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Appendix 5B

23 Apr 2015 07:00

RNS Number : 0445L
Coal of Africa Limited
23 April 2015
 

Rule 5.3

Appendix 5B

 

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10.

 

 

Name of entity

Coal of Africa Limited

 

ABN

Quarter ended ("current quarter")

98 008 905 388

31 March 2015

 

Consolidated statement of cash flows

 

Cash flows related to operating activities

 

 

Current quarter

US$'000

Year to date

(9 months)

US$'000

1.1

Receipts from product sales and related debtors

 

-

1,318

1.2

Payments for (a) exploration & evaluation

(b) development

(c) operations on care and maintenance

(d) logistics

(e) administration

(1,545)

(697)

(246)

-

(2,189)

(1,701)

(2,190)

(1,234)

-

(7,419)

1.3

Dividends received

-

-

1.4

Interest and other items of a similar nature received

214

429

1.5

Interest and other costs of finance paid

-

(1,215)

1.6

Income taxes paid

-

-

1.7

Other (provide details if material)

(1,437)

(12,776)

 

Net Operating Cash Flows

(5,900)

(24,788)

 

Cash flows related to investing activities

1.8

Payment for purchases of: (a) prospects

(b) equity investments

(c) other fixed assets

(1,000)

-

-

(7,300)

-

-

1.9

Proceeds from sale of: (a) prospects

(b) equity investments

(c) other fixed assets

128

150

-

128

323

-

1.10

Loans to other entities

-

-

1.11

Loans repaid by other entities

-

-

1.12

Other (provide details if material)

(406)

2,914

 

Net investing cash flows

(1,128)

(3,935)

1.13

Total operating and investing cash flows (carried forward)

(7,028)

(28,723)

 

1.13

Total operating and investing cash flows (brought forward)

(7,028)

(28,723)

 

Cash flows related to financing activities

1.14

Proceeds from issues of shares, options, etc.

-

45,987

1.15

Proceeds from pending issues of shares*

-

-

1.16

Proceeds from sale of forfeited shares

-

-

1.17

Proceeds from borrowings

-

-

1.18

Repayment of borrowings

-

(5,815)

1.19

Dividends paid

-

-

1.20

Other (provide details if material)

-

-

Net financing cash flows

-

40,172

 

Net increase (decrease) in cash held

 

(7,028)

11,449

1.21

Cash at beginning of quarter/year to date

20,572

2,099

1.22

Exchange rate adjustments

(41)

(45)

1.23

Cash at end of quarter

13,503

13,503

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

US$'000

 

1.23

 

Aggregate amount of payments to the parties included in item 1.2

232

 

1.24

 

Aggregate amount of loans to the parties included in item 1.10

-

 

1.25

 

Explanation necessary for an understanding of the transactions

 

 

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

US$'000

Amount used

US$'000

3.1

Loan facilities

 

-

-

3.2

Credit standby arrangements

 

-

-

 

 

Estimated cash outflows for next quarter

US$'000

4.1

Exploration and evaluation

405

4.2

Development

677

4.3

Production

762

4.4

Logistics

-

4.5

Administration

2,127

Total

3,971

 

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

US$'000

Previous quarter

US$'000

5.1

Cash on hand and at bank

4,124

6,310

5.2

Deposits at call

9,379

14,262

5.3

Bank overdraft

-

-

5.4

Other (provide details)

-

-

Total: cash at end of quarter (item 1.22)

13,503

20,572

 

 

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)

Nil

7.2

Changes during quarter

 

7.3

+Ordinary securities

 

1,599,568,613

1,599,568,613

7.4

Changes during quarter

(a) Increases through issues

(b) Decreases through returns of capital, buy-backs

 

200,000

Nil

 

200,000

Nil

7.5

+Convertible debt securities (description)

Nil

7.6

Changes during quarter

(a) Increases through issues

(b) Decreases through securities matured, converted

7.7

Options (description and conversion factor)

48,743,989

Nil

Exercise price

See Note 6

Expiry date

See Note 6

7.8

Issued during quarter

30,575,000*

Nil

See Note 6

See Note 6

7.9

Exercised during quarter

Nil

Nil

See Note 6

See Note 6

7.10

Cancelled during quarter

Nil

Nil

7.11

Debentures

(totals only)

Nil

7.12

Unsecured notes (totals only)

 

Nil

 

*20 million options to subscribe for ordinary shares at ZAR1.32 each expiring on 21 October 2018; and 10,575,000 options exercisable in tranches of 3,525,000 each at ZAR1.20, ZAR1.32 and ZAR1.45 on 1 February 2015, 1 February 2016 and 1 February 2017 respectively, expiring on 1 February 2019.

 

 

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 4).

 

2 This statement does give a true and fair view of the matters disclosed.

 

 

Sign here: ............................................................ Date: ...23 April 2015......................

(Company secretary)

 

 

TONY BEVAN

Print name: .........................................................

 

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 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.

 

5 Accounting Standards ASX will accept, for example, the use of International Accounting 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.

 

 

6 Issued and Quoted Options as at 31 March 2015:

 

Number Issued

Number Quoted

Exercise Price

Expiry Date

Lapsed Since End of quarter

2,500,000

1,441,061

2,670,000

3,500,000

3,932,928

4,125,000

20,000,000

3,525,000

3,525,000

3,525,000

-

-

-

-

-

-

-

-

-

-

A$1.20

A$1.40

ZAR7.60

GBP0.25

ZAR1.75

ZAR2.00

ZAR1.32

ZAR1.20

ZAR1.32

ZAR1.45

9 November 2015

30 September 2015

14 February 2017

30 November 2015

30 June 2017

30 June 2018

21 October 2018

1 February 2019

1 February 2019

1 February 2019

-

-

-

-

-

-

-

-

-

-

== == == == ==

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCEASLAADPSEFF

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