20 Jul 2017 09:03
For immediate release
20 July 2017
Nyota Minerals Limited
('Nyota' or 'the Company')
Quarterly Report
Nyota Minerals Limited (ASX/AIM: NYO) provides its Quarterly Report for the three months ended 30 June 2017.
Finance
At 30 June 2017 the Company had cash of approximately AUD$57K.
During the period, the Company raised proceeds of £56,328 (approximately AUD$97K) from the issue of shares via the placement that was announced on the ASX on 4 May 2017 and approximately AUD$19K from the sale of its residual tenements.
Corporate Activity
During the quarter, the Company reached an agreement with Peterhouse Corporate Finance Limited (Peterhouse) for further funding. However, at the general meeting of the Company held on 3 July 2017 the necessary shareholder votes to put the funding strategy in place were not forthcoming and Peterhouse subsequently resigned as the Company's broker effective 17 August 2017 as announced on the ASX on 19 July 2017.
The board remains in discussions with respect to raising further capital. The final terms remain subject to negotiation with the proposed investors. No guarantee can be provided that terms will be agreed and that a capital raising will eventuate. The Company will provide a further update to shareholders as soon as practical.
New Business Opportunities
The board remains committed to finding a viable new business for the Company and securing long term value for shareholders.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 956/2014.
For more information please visit www.nyotaminerals.com or contact:
Sergey Budkin | Director, Nyota Minerals Limited | sergey.budkin@finpoint.kiev.ua |
Michael CornishJames Biddle | Beaumont Cornish LimitedNominated Advisor | +44 (0) 207 628 3396 |
Forward-Looking Statements
This press release contains forward-looking statements in relation to the Company and its subsidiaries (the "Group"), including, but not limited to, the Group's proposed strategy, plans and objectives, future commercial production, sales and financial results, development, construction and production targets and timetables, mining costs and economic viability and profitability. Such statements are generally identifiable by the terminology used, such as "may", "will", "could", "should", "would", "anticipate'', "believe'', "intend", "expect", "plan", "estimate", "budget'', "outlook'' or other similar wording. By its very nature, such forward-looking information requires the Company to make assumptions that may not materialise or that may not be accurate. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Group that could cause the actual performance or achievements of the Group to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Furthermore, the forward-looking information contained in the press release is made as of the date of the press release and accordingly, you should not rely on any forward-looking statements and the Group accepts no obligation to disseminate any updates or revisions to such forward-looking statements. The forward-looking information contained in this press release is expressly qualified by this cautionary statement.
Neither the contents of the Company's website nor the contents of any websites accessible from hyperlinks in the Company's website (or any other website) is incorporated into or forms part of, this announcement.
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/13, 01/09/16
Name of entity | ||
Nyota Minerals Limited | ||
ABN |
| Quarter ended ("current quarter") |
98 060 938 552 |
| 30 June 2017 |
Consolidated statement of cash flows | Current quarter $A'000 | Year to date (12 months)$A'000 | ||
1. | Cash flows from operating activities |
|
| |
1.1 | Receipts from customers | |||
1.2 | Payments for | - | (19) | |
| (a) exploration & evaluation | |||
| (b) development |
|
| |
| (c) production |
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| |
| (d) staff costs |
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| |
| (e) administration and corporate costs | (129) | (511) | |
1.3 | Dividends received (see note 3) |
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| |
1.4 | Interest received |
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| |
1.5 | Interest and other costs of finance paid |
|
| |
1.6 | Income taxes paid |
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| |
1.7 | Research and development refunds |
|
| |
1.8 | Other (provide details if material) | 12 | 34 | |
1.9 | Net cash from / (used in) operating activities | (117) | (496) | |
| ||||
2. | Cash flows from investing activities |
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| |
2.1 | Payments to acquire: | |||
| (a) property, plant and equipment | |||
| (b) tenements (see item 10) |
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| |
| (c) investments |
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| (d) other non-current assets |
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2.2 | Proceeds from the disposal of: |
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| |
| (a) property, plant and equipment | |||
| (b) tenements (see item 10) | 19 | 19 | |
| (c) investments | - | 47 | |
| (d) other non-current assets |
|
| |
2.3 | Cash flows from loans to other entities |
|
| |
2.4 | Dividends received (see note 3) |
|
| |
2.5 | Other (provide details if material) |
|
| |
2.6 | Net cash from / (used in) investing activities | 19 | 66 | |
| ||||
3. | Cash flows from financing activities |
97 | 97 | |
3.1 | Proceeds from issues of shares | |||
3.2 | Proceeds from issue of convertible notes |
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| |
3.3 | Proceeds from exercise of share options |
|
| |
3.4 | Transaction costs related to issues of shares, convertible notes or options |
|
| |
3.5 | Proceeds from borrowings | - | 341 | |
3.6 | Repayment of borrowings |
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3.7 | Transaction costs related to loans and borrowings |
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| |
3.8 | Dividends paid |
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| |
3.9 | Other (provide details if material) |
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| |
3.10 | Net cash from / (used in) financing activities | 97 | 438 | |
| ||||
4. | Net increase / (decrease) in cash and cash equivalents for the period | 58 | 49 | |
4.1 | Cash and cash equivalents at beginning of period | |||
4.2 | Net cash from / (used in) operating activities (item 1.9 above) | (117) | (496) | |
4.3 | Net cash from / (used in) investing activities (item 2.6 above) | 19 | 66 | |
4.4 | Net cash from / (used in) financing activities (item 3.10 above) | 97 | 438 | |
4.5 | Effect of movement in exchange rates on cash held |
|
| |
4.6 | Cash and cash equivalents at end of period | 57 | 57 | |
5. | Reconciliation of cash and cash equivalentsat the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts | Current quarter$A'000 | Previous quarter$A'000 |
5.1 | Bank balances | 57 | 58 |
5.2 | Call deposits |
|
|
5.3 | Bank overdrafts |
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5.4 | Other (provide details) |
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|
5.5 | Cash and cash equivalents at end of quarter (should equal item 4.6 above) | 57 | 58 |
6. | Payments to directors of the entity and their associates | Current quarter$A'000 |
6.1 | Aggregate amount of payments to these parties included in item 1.2 | 17 |
6.2 | Aggregate amount of cash flow from loans to these parties included in item 2.3 |
|
6.3 | Include below any explanation necessary to understand the transactions included in items 6.1 and 6.2 | |
| ||
7. | Payments to related entities of the entity and their associates | Current quarter$A'000 |
7.1 | Aggregate amount of payments to these parties included in item 1.2 |
|
7.2 | Aggregate amount of cash flow from loans to these parties included in item 2.3 |
|
7.3 | Include below any explanation necessary to understand the transactions included in items 7.1 and 7.2 | |
| ||
8. | Financing facilities availableAdd notes as necessary for an understanding of the position | Total facility amount at quarter end$A'000 | Amount drawn at quarter end$A'000 |
8.1 | Loan facilities |
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8.2 | Credit standby arrangements |
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8.3 | Other (please specify) |
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8.4 | Include below a description of each facility above, including the lender, interest rate and whether it is secured or unsecured. If any additional facilities have been entered into or are proposed to be entered into after quarter end, include details of those facilities as well. | ||
The Company is in discussions with an incoming investor group. The Company will provide a further update to shareholders as soon as practical.
| |||
9. | Estimated cash outflows for next quarter | $A'000 |
9.1 | Exploration and evaluation |
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9.2 | Development |
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9.3 | Production |
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9.4 | Staff costs |
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9.5 | Administration and corporate costs | 150 |
9.6 | Other (provide details if material) |
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9.7 | Total estimated cash outflows | 150 |
10. | Changes in tenements(items 2.1(b) and 2.2(b) above) | Tenement reference and location | Nature of interest | Interest at beginning of quarter | Interest at end of quarter |
10.1 | Interests in mining tenements and petroleum tenements lapsed, relinquished or reduced |
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10.2 | Interests in mining tenements and petroleum tenements acquired or increased |
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Compliance statement
1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
2 This statement gives a true and fair view of the matters disclosed.
Sign here: ............................................................ Date: .............................................
(Director/Company secretary)
Print name: ANDREW D.L. WRIGHT
Notes
1. The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position. An entity that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.
2. If this quarterly report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.
3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.
ENDS