• Exploration and evaluation expenses of $3.75 million in the current quarter
• $8.12 million in proceeds from equity securities issued
• Cash and cash equivalents of $16.775 million at the end of the quarter

Golden Horse Minerals Limited has released its quarterly cashflow report for the period ending 30 September 2025. The report shows that the company had net cash used in operating activities of $796,000 during the current quarter, primarily due to payments for exploration and evaluation activities of $79,000, staff costs of $239,000, and administration and corporate costs of $582,000. The company also made payments of $3.75 million for exploration and evaluation activities, classified as investing activities. On the financing side, the company received $8.12 million in proceeds from the issue of equity securities. Overall, the company had cash and cash equivalents of $16.775 million at the end of the quarter, up from $14.955 million in the previous quarter.