Royal Mines & Minerals Corporation (RYMM) saw its loss narrow to $0.17 million in the quarter ended compared with $0.30 million, a year ago.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $0.14 million, compared with an operating loss of $0.28 million in the previous year period.
Operating cash flow remains negative
Royal Mines & Minerals Corporation has spent $0.40 million cash to meet operating activities during the nine month period as against cash outgo of $0.38 million in the last year period.
Cash flow from investing activities was almost stable for the quarter at $0.04 million, when compared with the previous year period.
Cash flow from financing activities was $0.37 million for the nine month period, down 3.68 percent or $0.01 million, when compared with the last year period.
Working capital remains negative
Working capital of Royal Mines & Minerals Corporation was negative $2.62 million on Jan. 31, 2017 compared with negative $1.95 million on Jan. 31, 2016.
At the same time, days payable outstanding went up to 532 days for the quarter from 294 for the same period last year.
Debt moves up marginally
Royal Mines & Minerals Corporation has witnessed an increase in total debt over the last one year. It stood at $0.31 million as on Jan. 31, 2017, up 3.36 percent or $0.01 million from $0.30 million on Jan. 31, 2016. Royal Mines & Minerals Corp has witnessed an increase in short-term debt over the last one year. It stood at $0.31 million as on Jan. 31, 2017, up 3.36 percent or $0.01 million from $0.30 million on Jan. 31, 2016. Total debt was 386.36 percent of total assets as on Jan. 31, 2017, compared with 100.89 percent on Jan. 31, 2016.
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