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29 Jan 2016 07:00
29 January 2016
Tlou Energy Limited
("Tlou" or "the Company")
The Directors of Tlou Energy Limited (AIM: TLOU, ASX: TLU) today released the following announcement on the Australian Securities Exchange ("ASX") as required under the listing rules of the ASX.
Appendix 5B
Mining exploration entity quarterly report
Rule 5.3
Appendix 5B
Mining 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
Name of entity |
Tlou Energy Limited |
ABN | Quarter ended ("current quarter") | |
79 136 739 967 |
| 31 December 2015 |
Consolidated statement of cash flows
Cash flows related to operating activities
| Current quarter $A'000 | Year to date (6 months) $A'000 | |
1.1 | Receipts from product sales and related debtors
| ||
1.2 | Payments for (a) exploration & evaluation (b) development (c) production (d) administration | (1,041)
(431) | (4,854)
(1,194) |
1.3 | Dividends received | ||
1.4 | Interest and other items of a similar nature received | 6 | 20 |
1.5 | Interest and other costs of finance paid | ||
1.6 | Income taxes paid | ||
1.7 | Other (VAT/GST Refunds) | 367 | 411 |
Net Operating Cash Flows | (1,100) | (5,618) | |
Cash flows related to investing activities | |||
1.8 | Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets |
|
(25) |
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 | - | (25) | |
1.13 | Total operating and investing cash flows (carried forward) | (1,100) | (5,643) |
1.13 | Total operating and investing cash flows (brought forward) | (1,100) | (5,643) |
Cash flows related to financing activities | |||
1.14 | Proceeds from issues of shares, options, etc. | 1,546 | 1,349 |
1.15 | Proceeds from sale of forfeited shares | ||
1.16 | Proceeds from borrowings | ||
1.17 | Repayment of borrowings | ||
1.18 | Dividends paid | ||
1.19 | Other (provide details if material) | ||
Net financing cash flows | 1,546 | 1,349 | |
Net increase (decrease) in cash held
|
445 |
(4,293) | |
1.20 | Cash at beginning of quarter/year to date | 2,399 | 7,198 |
1.21 | Exchange rate adjustments to item 1.20 | 71 | 10 |
1.22 | Cash at end of quarter | 2,915 | 2,915 |
Payments to directors of the entity and associates of the directors
Payments to related entities of the entity and associates of the related entities
| Current quarter $A'000 | |
1.23 |
Aggregate amount of payments to the parties included in item 1.2 |
113 |
1.24 |
Aggregate amount of loans to the parties included in item 1.10 | |
1.25 |
Explanation necessary for an understanding of the transactions | |
|
Fees, Rent
| |
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 |
|
Financing facilities available
Add notes as necessary for an understanding of the position.
| Amount available $A'000 | Amount used $A'000 | |
3.1 | Loan facilities
| ||
3.2 | Credit standby arrangements
|
Estimated cash outflows for next quarter
$A'000 | ||
4.1 | Exploration and evaluation
| 604 |
4.2 | Development
| |
4.3 | Production
| |
4.4 | Administration
| 544 |
Total |
1,148 |
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'000 | Previous quarter $A'000 | |
5.1 | Cash on hand and at bank | 2,615 | 2,099 |
5.2 | Deposits at call | 300 | 300 |
5.3 | Bank overdraft | ||
5.4 | Other (provide details) | ||
Total: cash at end of quarter (item 1.22) | 2,915 | 2,399 | |
Changes in interests in mining tenements
Tenement reference | Nature of interest (note (2)) | Interest at beginning of quarter | Interest at end of quarter | ||
6.1 | Interests in mining tenements relinquished, reduced or lapsed
|
|
|
|
|
6.2 | Interests in mining tenements acquired or increased
|
|
|
|
|
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 | 205,619,292 | 205,619,292 | ||
7.4 | Changes during quarter (a) Increases through issues
(b) Decreases through returns of capital, buy-backs
(c) Release of securities from escrow |
18,462,973
|
18,462,973
|
$0.14
|
$0.14
|
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) |
10,575,000
| Exercise price $0.625
| Expiry date 30-April-2016
| |
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.
Sign here: ............................................................ Date: 29 January 2016....
(Director/Company secretary)
Print name: Solomon Rowland.......................
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 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, 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.
== == == == ==
Enquiries:
Tlou Energy Limited Gabaake Gabaake, Acting Managing Director Solomon Rowland, Company Secretary Colm Cloonan, Chief Financial Officer
www.tlouenergy.com
| +61 7 3012 9793 gabaake.gabaake@tlouenergy.com solomon.rowland@tlouenergy.com colm.cloonan@tlouenergy.com
|
Grant Thornton UK LLP (Nominated Adviser) Colin Aaronson, Jen Clarke, Harrison Clarke
| +44 (0)20 7383 5100
|
Brandon Hill Capital (Joint broker) Jonathan Evans, Alex Walker
| +44 (0)20 3463 5016 |
Optiva Securities Limited (Joint broker) Jeremy King, Christian Dennis
| 44 (0)20 3137 1904 |
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