3 Aug 2015 07:00
SCOTGOLD RESOURCES LIMITED
QUARTERLY CASH FLOW REPORT FOR THE QUARTER
ENDED 30 JUNE 2015
Name of entity |
SCOTGOLD RESOURCES LIMITED |
ABN | Quarter ended ("current quarter") | |
42 127 042 773 |
| 30 JUNE 2015 |
Consolidated statement of cash flows
Cash flows related to operating activities
| Current quarter
$A | Year to date (12 months) $A | |
1.1 | Receipts from product sales and related debtors
|
- |
- |
1.2 | Payments for (a) exploration & evaluation (b) development (c) production (d) administration | (527,384) - - (263,545) | (1,182,507) - - (1,081,591) |
1.3 | Dividends received | - | - |
1.4 | Interest and other items of a similar nature received |
292 |
5,588 |
1.5 | Interest and other costs of finance paid | - | - |
1.6 | Income taxes paid | - | - |
1.7 | Other (provide details if material) | - | - |
Net Operating Cash Flows |
(790,637) |
(2,185,510) | |
Cash flows related to investing activities | |||
1.8 | Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets | - - (1,205) | - - (2,400) |
1.9 | Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets | - - - | - - - |
1.10 | Loans to other entities | - | - |
1.11 | Loans repaid by other entities | - | - |
1.12 | Other (provide details if material) | - | - |
Net investing cash flows |
(1,205) |
(2,400) | |
1.13 | Total operating and investing cash flows (carried forward) |
(791,842) |
(2,187,910) |
1.13 | Total operating and investing cash flows (brought forward) |
(791,842) |
(2,187,910) |
Cash flows related to financing activities | |||
1.14 | Proceeds from issues of shares, options, etc. | 900,000 | 4,259,739 |
1.15 | Proceeds from sale of forfeited shares | - | - |
1.16 | Proceeds from borrowings | - | 1,600,000 |
1.17 | Repayment of borrowings | - | (3,031,286) |
1.18 | Dividends paid | - | - |
1.19 | Other - Share Issue Costs | (69,461) | (522,631) |
Net financing cash flows |
830,539 |
2,305,821 | |
Net increase (decrease) in cash held
|
38,697 |
117,911 | |
1.20 | Cash at beginning of quarter/year to date | 733,079 | 640,857 |
1.21 | Exchange rate adjustments to item 1.20 | 30,873 | 43,881 |
1.22 | Cash at end of quarter |
802,649
|
802,649
|
Payments to directors of the entity, associates of the directors, related entities of the entity and associates of the related entities
| Current quarter $A | |
1.23 |
Aggregate amount of payments to the parties included in item 1.2 |
162,720
|
1.24 |
Aggregate amount of loans to the parties included in item 1.10 |
Nil |
1.25 |
Explanation necessary for an understanding of the transactions | |
| N/A
| |
Non-cash financing and investing activities
2.1 | Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows |
|
2.2 | Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest |
N/A
|
Financing facilities available
Add notes as necessary for an understanding of the position.
| Amount available $ | Amount used $ | |
3.1 | Loan facilities Principal - Convertible Notes |
1,600,000 |
1,600,000 |
3.2 | Credit standby arrangements
| Nil | N/A |
Estimated cash outflows for next quarter
$A | ||
4.1 | Exploration and evaluation
| 350,000 |
4.2 | Development
| |
4.3 | Production
| - |
4.4 | Administration
| 350,000 |
Total |
700,000 |
Reconciliation of cash
Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows. | Current quarter $A | Previous quarter $A | |
5.1 | Cash on hand and at bank | 227,149 | 83,079 |
5.2 | Deposits at call | 575,500 | 650,000 |
5.3 | Bank overdraft | ||
5.4 | Other (provide details) | ||
Total: cash at end of quarter (item 1.22) | 802,649 | 733,079 | |
Changes in interests in mining tenements and petroleum tenements
Tenement reference and location | Nature of interest (note (2)) | Interest at beginning of quarter | Interest at end of quarter | ||
6.1 | Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed
| Nil |
|
|
|
6.2 | Interests in mining tenements and petroleum tenements acquired or increased
| Nil |
|
|
|
Issued and quoted securities at end of current quarter
Description includes rate of interest and any redemption or conversion rights together with prices and dates.
Total number | Number quoted | Issue price per security (see note 3) (cents) | Amount paid up per security (see note 3) (cents) | |||
7.1 | Preference +securities (description) | |||||
7.2 | Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs, redemptions | |||||
7.3 | +Ordinary securities
| 1,135,392,472 | 1,135,392,472 | |||
7.4 | Changes during quarter (a) Increases through issues
(b) Decreases through returns of capital, buy-backs |
90,000,000
|
90,000,000 |
|
| |
7.5 | +Convertible debt securities (description) | |||||
7.6 | Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted | |||||
7.7 | Options (description and conversion factor) |
26,222,222 3,000,000 153,161 7,111,111 30,000,000 | Exercise price £0.0450 $0.0800 £0.0310 £0.0450 £0.0069 | Expiry date 24 July 2015 31 March 2022 7 December 2015 28 March 2016 22 September 2017 | ||
7.8 | Issued during quarter | |||||
7.9 | Exercised during quarter | |||||
7.10 | Expired during quarter | |||||
7.11 | Debentures (totals only) | |||||
7.12 | Unsecured notes (totals only)
| |||||
Compliance statement
1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 5).
2 This statement does give a true and fair view of the matters disclosed.
For further information:
Scotgold Resources Limited Westhouse Securities Limited
Richard Gray
Chief Executive Officer Martin Davison
Tel: +44 (0)7905 884 021 Tel: +44 (0)20 7601 6100
Capital Markets Consultants Vicarage Capital Limited
Simon Rothschild Rupert Williams
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 wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
2 The "Nature of interest" (items 6.1 and 6.2) includes options in respect of interests in mining tenements and petroleum tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement or petroleum tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.
3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities.
4 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.
5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.
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