May 3 (Reuters) - Magnetite Mines Ltd MGT.AX :
* MGT EXPECTS TO CONTINUE TO HAVE A NEGATIVE OPERATING CASH FLOWS FOR TIME BEING
* CO DOES NOT HAVE ANY MINING OPERATIONS AT THIS POINT IN TIME TO GENERATE POSITIVE CASH FLOW
* MGT EXPECTS TO BE ABLE TO CONTINUE ITS OPERATIONS AND MEET ITS BUSINESS OBJECTIVES