Kainantu Resources Filing of Q3 2022 Results

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[{"type":"text","content":"\n \n \n \n Kainantu Resources Filing of Q3 2022 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 Nov. 29, 2022\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 nine months ending\n \n September 30, 2022\n \n , a copy of which is available for review in the \"Investors\" section of the Company's\n \n website\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\n \n \n \n \n Prudent management of capital resources continued in Q3 2022, during the 9 months ended\n \n September 30\n \n :\n \n \n \n capitalised expenditure on exploration and evaluation activities totalled\n \n $1.78 million\n \n , compared to\n \n $1.16 million\n \n for the period in 2021, primarily due to expanded exploration activities, including a significant airborne geophysical survey over our properties adjacent to K92 Mining;\n \n \n as at\n \n September 30\n \n cash and receivables totalled\n \n $0.32 million\n \n (or\n \n C$ 0.44 million\n \n ) with\n \n $0.18 million\n \n of non-trade receivables. Subsequent to the reporting date on\n \n \n November 3, 2022\n \n \n , the Company completed the first tranche of the placement, securing\n \n C$1.70 million\n \n in funding significantly increasing the cash balance.\n \n \n cash used in operating activities was\n \n $0.71 million\n \n and\n \n $1.65 million\n \n for investing activities and net inflows from financing of\n \n $1.90 million\n \n ; and\n \n \n the loss through for the period was\n \n $0.78 million\n \n a reduction of\n \n $0.33 million\n \n compared to 2021 which included non-recurring one-off listing expense and non-cash share-based payments.\n \n \n \n \n \n Business Update\n \n \n \n \n At the Ontenu prospect at KRL South, three high priority targets were iden...

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