Coal of Africa Ltd (CZA) - Appendix 5B RNS Number : 0418Q Coal of Africa Limited 01 November 2012 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 30 September 2012 Consolidated statement of cash flows Year to date Cash flows related to operating activities Current quarter (3 months) US$'000 US$'000 1.1 Receipts from product sales and related debtors 45,023 45,023 1.2 Payments for (a) exploration & evaluation (4,926) (4,926) (b) (13,607) (13,607) development (41,382) (41,382) (c) production (14,840) (14,840) (d) logistics (10,106) (10,106) (e) administration 1.3 Dividends received - - 1.4 Interest and other items of a similar nature 192 192 received 1.5 Interest and other costs of finance paid (328) (328) 1.6 Income taxes paid - - 1.7 Other (provide details if material) - - Net Operating Cash Flows (39,974) (39,974) Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects - - (b) equity investments - - (c) other (4,355) (4,355) fixed assets 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) (296) (296) Net investing cash flows (4,651) (4,651) 1.13 Total operating and investing cash flows (44,625) (44,625) (carried forward) 1.13 Total operating and investing cash flows (brought (44,625) (44,625) forward) Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 51,673 51,673 1.15 Proceeds from sale of forfeited shares - - 1.16 Proceeds from borrowings 5,000 5,000 1.17 Repayment of borrowings (736) (736) 1.18 Dividends paid - - 1.19 Other (provide details if material) - - Net financing cash flows 55,937 55,937 Net increase (decrease) in cash held 11,312 11,312 1.20 Cash at beginning of quarter/year to date 19,523 19,523 1.21 Exchange rate adjustments to item 1.20 (516) (516) 1.22 Cash at end of quarter 30,319 30,319 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$'000 668 1.23 Aggregate amount of payments to the parties included in item 1.2 - 1.24 Aggregate amount of loans to the parties included in item 1.10 1.25 Explanation necessary for an understanding of the transactions Non-cash financing and investing activities 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest Financing facilities available Add notes as necessary for an understanding of the position. Amount available Amount used US$'000 US$'000 3.1 Loan facilities -* 37,500 3.2 Credit standby - ** - ** arrangements *At 30 June 2012 the Company breached certain Total Equity covenants relating to the Deutsche Bank facility resulting in the remaining US$12.5 million of the facility being unavailable. ** The Company has not been able to draw down against the US$40.0 million JP Morgan Limited facility and the facility will expire on 3 November 2012. The Company will not renew this facility. Estimated cash outflows for next quarter US$'000 4.1 Exploration and evaluation 6,800 4.2 Development 17,471 4.3 Production 29,131 4.4 Logistics 9,267 4.5 Administration 3,101 65,770 Total Reconciliation of cash Reconciliation of cash at the end of the quarter (as shown in Current Previous the consolidated statement of cash flows) to the related quarter quarter items in the accounts is as follows. US$'000 US$'000 5.1 Cash on hand and at bank 19,372 19,479 5.2 Deposits at call 10,947 44 5.3 Bank overdraft - - 5.4 Other (provide details) - - Total: cash at end of quarter (item 1.22) 30,319 19,523 Changes in interests in mining tenements Tenement Nature of Interest at Interest at reference interest beginning of end of quarter quarter (note (2)) 6.1 Interests in mining Refer note 7 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 Amount paid per security up per (see note 3) security (see (cents) note 3) (cents) 7.1 Preference Nil +securities (description) 7.2 Changes during quarter 7.3 +Ordinary 800,951,034 800,951,034 securities 7.4 Changes during quarter (a) Increases through issues 134,627,206 134,627,206 (b) Decreases through returns of capital, buy-backs 7.5 +Convertible debt Nil securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted 7.7 Options 20,429,562 Nil Exercise Expiry date (description and price conversion factor) See Note 6 See Note 6 7.8 Issued during Nil Nil See Note 6 See Note 6 quarter 7.9 Exercised during Nil Nil See Note 6 See Note 6 quarter 7.10 Expired during 1,650,000 Nil quarter 7.11 Debentures Nil (totals only) 7.12 Unsecured notes Nil (totals only) Compliance statement 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Actor other standards acceptable to ASX (see note 4). 2 This statement does give a true and fair view of the matters disclosed. 31 October 2012 Sign here: ............................................................ Date: ............................ (Company secretary) SHANNON COATES 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 30 September 2012: Number Issued Number Quoted Exercise Price Expiry Date Lapsed Since End of quarter 7,000,000 - A$1.25 30 September 2012 - 1,000,000 - A$1.90 30 September 2012 - 818,500 - A$1.90 30 June 2014 - 5,000,000 - A$2.74 30 November 2014 - 2,500,000 - A$1.20 9 November 2015 - 1* - GBP0.60 1 November 2014 - 1,441,061 - A$1.40 30 September 2015 - 2,670,000 - ZAR7.60 14 February 2017 - - - *1 Option to subscribe for 50 million ordinary shares for 60 pence each between 1 November 2010 and 1 November 2014 as approved by shareholders on 22 April 2010 7 Interests in mining tenements relinquished, reduced or lapsed Interest at the Interest at Nature of beginning of the the end of the Tenement Reference interest quarter quarter Kanowna West* M27/41 Refer note 7.1 23.68% 9.47% M27/47 below 23.68% 9.47% M27/59 23.68% 9.47% M27/72,27/73 23.68% 9.47% M27/114 23.68% 9.47% M27/196 23.68% 9.47% M27/414,27/415 23.68% 9.47% P27/1826-1829 23.68% 9.47% P27/1830-1842 23.68% 9.47% P27/1887 23.68% 9.47% Kalbara* M27/181 Refer note 7.1 21.31% 8.52% below Abbotshall ML63/409,410 Royalty Royalty Royalty Kookynie ML40/061 Royalty Royalty Royalty ML40/135,136 Royalty Royalty Note 7.1: Tenements are the subject of a joint venture (JV) arrangement with Barrick (PD) Australia Limited. On 28 August 2012, Barrick confirmed it had met certain criteria required to earn a 60% interest in the tenements, reducing CoAL's interest to a fully diluted position of 9.47% in respect to the Kanowna West JV and 8.52% in respect to the Kalbara JV. == == == == == This information is provided by RNS The company news service from the London Stock Exchange END MSCEADEFDFKAFAF -0- Nov/01/2012 07:00 GMT
Coal of Africa Ltd CZA Appendix 5B
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