TIDMCZA
RNS Number : 2974C
Coal of Africa Limited
30 April 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 31 March 2012
-------------- ---------------------------------
Consolidated statement of cash flows
Year to
Cash flows related to operating Current date (9.months)
activities quarter US$'000
US$'000
---------- -----------------
Receipts from product
1.1 sales and related debtors 32,460 177,076
Payments for (a) exploration
1.2 & evaluation (1,567) (5,041)
(b) development (5,319) (8,239)
(c) production (13,164) (125,278)
(d) logistics (22,745) (56,512)
(e) administration (7,202) (21,513)
1.3 Dividends received - -
Interest and other items
1.4 of a similar nature received 373 900
Interest and other costs
1.5 of finance paid (826) (1,434)
1.6 Income taxes paid - (3,212)
1.7 Other (provide details - -
if material)
Net Operating Cash Flows (17,990) (43,253)
----- ------------------------------------------------- ---------- -----------------
Cash flows related to
investing activities
Payment for purchases
of: (a) prospects - -
(b) equity investments - -
1.8 (c) other fixed assets (3,909) (18,066)
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
Other (provide details
1.12 if material) (3,501) (3,959)
Net investing cash flows (7,410) (22,025)
---------- -----------------
Total operating and investing
1.13 cash flows (carried forward) (25,400) (65,278)
----- ------------------------------------------------- ---------- -----------------
Total operating and investing
1.13 cash flows (brought forward) (25,400) (65,278)
----- ---------------------------------- ---------
Cash flows related to
financing activities
---------
Proceeds from issues of
1.14 shares, options, etc. - 103,032
1.15 Proceeds from sale of - -
forfeited shares
1.16 Proceeds from borrowings (7,500) -
1.17 Repayment of borrowings (1,174) (2,694)
1.18 Dividends paid - -
Other (provide details
1.19 if material) (1,919) -
--------- ---------
Net financing cash flows (10,593) 100,338
----- ---------------------------------- ---------
Net increase (decrease)
in cash held (35,993) 35,060
---------
Cash at beginning of quarter/year
1.20 to date 89,206 22,761
Exchange rate adjustments
1.21 to item 1.20 2,553 (2,055)
--------- ---------
1.22 Cash at end of quarter 55,766 55,766
----- ---------------------------------- --------- ---------
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$'000
----------------
Aggregate amount of payments to
1.23 the parties included in item 1.2 445
----------------
-
1.24 Aggregate amount of loans to the
parties included in item 1.10
------ ---------------------------------- ----------------
1.25 Explanation necessary for an understanding
of the transactions
Non-cash financing and investing activities
2.1 Details of financing and investing transactions
which have had a material effect on consolidated
assets and liabilities but did not involve
cash flows
2.2 Details of outlays made by other entities
to establish or increase their share in projects
in which the reporting entity has an interest
Financing facilities available
Add notes as necessary for an understanding of the position.
Amount available Amount used
US$'000 US$'000
-----------------
3.1 Loan facilities 17,500 32,500
----------------- ------------
3.2 Credit standby arrangements 1,547 2,899
----------------- ------------
New Bank Facility (Refer
3.3 Note 7 below) 40,000 nil
---- ---------------------------- ----------------- ------------
Estimated cash outflows for next quarter
US$'000
---------
4.1 Exploration and evaluation 8,700
---------
4.2 Development 14,900
---------
4.3 Production 43,600
---------
4.4 Logistics 30,400
---------
4.5 Administration 13,300
---------
Total 110,900
---- --------------------------- ---------
Reconciliation of cash
Reconciliation of cash Current quarter Previous
at the end of the quarter US$'000 quarter
(as shown in the consolidated US$'000
statement of cash flows)
to the related items in
the accounts is as follows.
--------------------------------- ---------------- ---------
Cash on hand and at
5.1 bank 22,732 26,353
---------------- ---------
5.2 Deposits at call 33,034 62,853
---------------- ---------
5.3 Bank overdraft - -
---------------- ---------
5.4 Other (provide details) - -
---------------- ---------
Total: cash at end of
quarter (item 1.22) 55,766 89,206
----- -------------------------- ---------------- ---------
Changes in interests in mining tenements
Tenement reference Nature of interest Interest at beginning Interest at end of
(note (2)) of quarter 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 Issue price Amount paid
quoted per security up per security
(see note (see note
3) (cents) 3) (cents)
------------------------ ------------- ------------ -------------- -----------------
7.1 Preference Nil
+securities
(description)
------------- ------------ -------------- -----------------
7.2 Changes
during quarter
----- ----------------- ------------- ------------ -------------- -----------------
+Ordinary
7.3 securities 662,484,573 662,484,573
------------- ------------ -------------- -----------------
Changes
during quarter
(a) Increases
through
issues
(b) Decreases
through
returns
of capital,
7.4 buy-backs 200,000 200,000
7.5 +Convertible Nil
debt securities
(description)
------------- ------------ -------------- -----------------
7.6 Changes
during quarter
(a) Increases
through
issues
(b) Decreases
through
securities
matured,
converted
Options Exercise
(description price Expiry date
and conversion See Note See Note
7.7 factor) 22,929,562 Nil 6 6
------------- ------------ -------------- -----------------
Issued during See Note See Note
7.8 quarter 2,680,000 Nil 6 6
------------- ------------ -------------- -----------------
7.9 Exercised Nil Nil See Note See Note
during quarter 6 6
------------- ------------ -------------- -----------------
7.10 Expired Nil Nil
during quarter
------------- ------------
7.11 Debentures Nil
(totals
only)
------------- ------------
7.12 Unsecured Nil
notes (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.
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 31 March 2012:
Number Number Exercise Expiry Date Lapsed
Issued Quoted Price Since
End of
quarter
7,000,000 - A$1.25 30 September -
250,000 - A$2.05 2012 -
1,000,000 - A$1.90 1 May 2012 -
600,000 - A$1.25 30 September -
1,650,000 - A$3.25 2012 -
818,500 - A$1.90 1 May 2012 -
5,000,000 - A$2.74 31 July 2012 -
2,500,000 - A$1.20 30 June 2014 -
1* - GBP0.60 30 November -
1,441,061 - A$1.40 2014 -
2,670,000 - ZAR7.60 9 November -
2015
1 November
2014
30 September
2015
1 July 2014
*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 New Bank Facility (final condition precedent fulfilled post 31 March 2012)
The remaining condition precedent for the previously announced
US$40 million New Bank Facility was fulfilled post period end on 27
April 2012. The 364 day senior unsecured revolving credit facility
entered into with JP Morgan Australia Limited, bears interest at
the London Interbank Offer Rate (LIBOR) plus 300 basis points. No
amount has been drawn down against the New Bank Facility at the
date of this report.
== == == == ==
This information is provided by RNS
The company news service from the London Stock Exchange
END
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