Kainantu Resources Filing of Q1 2023 Results

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[{"type":"text","content":"\n \n \n \n Kainantu Resources Filing of Q1 2023 Results\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n May 30, 2023\n \n \n /CNW/ - Kainantu Resources Ltd. (TSXV: KRL) (FSE: 6J0) (\"KRL\" or the \"Company\"), the\n \n Asia-Pacific\n \n focused gold mining company, is pleased to report the filing of its  interim results for the 3 months ending\n \n March 31, 2023\n \n , a copy of which is available for review in the \"Investors\" section of the Company's\n \n \n website\n \n \n .\n \n \n \n \n \n \n \n \n \n Key aspects to report over the period include the following (with financial analysis stated in USD unless otherwise noted):\n \n \n \n Financial Update and Highlights\n \n \n \n \n ongoing prudent management of capital resources continued in Q1 2023, during the 3 months ended\n \n March 31\n \n ;\n \n \n \n \n capitalised expenditure on exploration and evaluation activities totalled\n \n $0.32 million\n \n , compared to\n \n $0.72 million\n \n for the period in 2022, with the generally less field activity for the period;\n \n \n \n \n subsequent to the reporting date on\n \n \n \n May 30, 2023\n \n \n \n , KRL announced of the placement of a Senior Convertible Debenture securing commitments of\n \n C$1.40 million\n \n , maintaining funding for the Company's projects and operations (to supplement cash and receivables reported at\n \n March 31\n \n of\n \n $0.35 million\n \n (or\n \n C$ 0.48 million\n \n ) with\n \n $0.17 million\n \n of non-trade receivables);\n \n \n \n \n cash used in operating activities was\n \n $0.32 million\n \n and\n \n $0.31 million\n \n for investing activities and net inflows from financing of\n \n $0.52 million\n \n ; and\n \n \n \n \n the operating loss for the period was\n \n $0.31 million\n \n largely in line with\n \n $0.26 million\n \n in 2022 with small increases in travel costs and professional fees relating to fundraising.\n \n \n \n \n Operational Update and Highlights\n \n \n \n The focus for Q1 2023 was on priority projects at Kili Teke and Onte...

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