Quarterly Activities and Cashflow Report - June 2024
Summary
**Quarter ended 30 June 2024 Activities Report Summary:**
**Financials:**
- Cash balance stood at $0.90 million as of June 30, 2024.
- Evolution Energy Minerals shareholding valued at $1.6 million.
- Net cash used in operating activities was $248,000 for the quarter.
- Staff costs included one-off redundancy costs for Mali employees.
**Business Development:**
- Marvel focused on identifying greenfield opportunities outside of Mali for long-term sustainable growth.
- Detailed due diligence conducted on potential projects with a focus on gold and other metal projects in Africa and elsewhere.
**Corporate:**
- Experienced mining executive, Mr. Steven Michael appointed as Non-Executive Director.
- Former Managing Director and CEO, Mr. Chris van Wijk, stepped down in April and May 2024, respectively.
**Asset Highlights:**
- Marvel holds interests in Tabakorole, Kolondieba, and Yanfolila Gold Projects in Southern Mali.
- Efforts continue to realize value for Mali exploration assets despite Cadastre delays.
**Reconciliation of Cash Flows:**
- Net cash from operating activities was ($248,000) with cash and cash equivalents at $0.90 million as of June 30, 2024.
**Future Outlook:**
- Marvel intends to dispose of its shareholding in Evolution Energy Minerals when circumstances permit.
- Strategic opportunities continue to be assessed for Mali exploration assets.
For further details, visit our website at www.marvelgold.com.au. Investors are welcome to inquire for more information.
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