Coal of Africa Ltd CZA Appendix 5B

  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
 
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