TIDMCZA
RNS Number : 8929W
Coal of Africa Limited
01 February 2013
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 December 2012
-------------- ---------------------------------
Consolidated statement of cash flows
Cash flows related to operating activities Year to date
Current quarter (6 months)
US$'000 US$'000
------------------ -------------
Receipts from product sales and
1.1 related debtors 65,122 110,145
Payments for (a) exploration
1.2 & evaluation (1,967) (6,893)
(b) development (4,386) (17,993)
(c) production (48,786) (85,284)
(d) logistics (16,642) (27,921)
(e) administration (9,329) (19,435)
(f) changes in working capital (1,402) (9,847)
1.3 Dividends received - -
Interest and other items of a
1.4 similar nature received 146 338
Interest and other costs of finance
1.5 paid (347) (675)
1.6 Income taxes paid - -
1.7 Other (provide details if material) - -
Net Operating Cash Flows (17,591) (57,565)
----- ----------------------------------------------------- ------------------ -------------
Cash flows related to investing
activities
Payment for purchases of: (a)
prospects (9,802) (9,802)
(b) equity investments - -
1.8 (c) other fixed assets (2,323) (6,678)
Proceeds from sale of: (a) prospects - -
(b) equity investments 140 140
1.9 (c) other fixed assets - -
1.10 Loans to other entities - -
1.11 Loans repaid by other entities - -
1.12 Other (provide details if material) (1,817) (2,113)
Net investing cash flows (13,802) (18,453)
------------------ -------------
Total operating and investing
1.13 cash flows (carried forward) (31,393) (76,018)
----- ----------------------------------------------------- ------------------ -------------
Total operating and investing
1.13 cash flows (brought forward) (31,393) (76,018)
----- ------------------------------------
Cash flows related to financing
activities
Proceeds from issues of shares,
1.14 options, etc. - 51,673
Proceeds from pending issues
1.15 of shares* 19,565 19,565
1.16 Proceeds from sale of forfeited - -
shares
1.17 Proceeds from borrowings - 5,000
1.18 Repayment of borrowings (365) (1,101)
1.19 Dividends paid - -
1.20 Other (provide details if material) - -
--------- ---------
Net financing cash flows 19,200 75,137
----- ------------------------------------ ---------
Net increase (decrease) in cash
held (12,193) (881)
Cash at beginning of quarter/year
1.21 to date 30,319 19,523
Exchange rate adjustments to
1.22 item 1.20 421 (95)
--------- ---------
1.23 Cash at end of quarter 18,547 18,547
----- ------------------------------------ --------- ---------
* Net proceeds from the US$20.0 million initial placement to
Beijing Haohua Energy Resource Co. Limited's wholly-owned
subsidiary Haohua Energy International (Hong Kong) Company
Limited.
Payments to directors of the entity and associates of the
directors
Payments to related entities of the entity and associates of the
related entities
Current quarter
US$'000
----------------
Aggregate amount of payments to the parties
1.23 included in item 1.2 554
----------------
-
1.24 Aggregate amount of loans to the parties
included in item 1.10
-------- -------------------------------------------------- ----------------
1.25 Explanation necessary for an understanding of the transactions
The balance in 1.23 includes all salaries and fees paid
to directors.
-----------------------------------------------------------------------------
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 US$40.0 million JP Morgan Limited facility expired on 3
November 2012 and the Company did not renew this facility.
Estimated cash outflows for next quarter
US$'000
--------
4.1 Exploration and evaluation 7,653
--------
4.2 Development 10,451
--------
4.3 Production 36,921
--------
4.4 Logistics 20,409
--------
4.5 Administration 3,094
--------
Total *78,528
---- --------------------------- --------
*estimated cash outflows only and excludes all revenue cash
inflows
Reconciliation of cash
Reconciliation of cash at the end Current quarter Previous quarter
of the quarter (as shown in the US$'000 US$'000
consolidated statement of cash
flows) to the related items in
the accounts is as follows.
------------------------------------ ---------------- -----------------
5.1 Cash on hand and at bank 12,628 19,372
---------------- -----------------
5.2 Deposits at call 5,919 10,947
---------------- -----------------
5.3 Bank overdraft - -
---------------- -----------------
5.4 Other (provide details) - -
---------------- -----------------
Total: cash at end of quarter
(item 1.22) 18,547 30,319
---- ------------------------------ ---------------- -----------------
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 quoted Issue price Amount paid
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 800,951,034 800,951,034
------------- -------------- -------------- -----------------
7.4 Changes during
quarter
(a) Increases Nil Nil
through issues
(b) Decreases
through returns
of capital,
buy-backs
7.5 +Convertible Nil
debt securities
(description)
------------- -------------- -------------- -----------------
7.6 Changes during
quarter
(a) Increases
through issues
(b) Decreases
through securities
matured, converted
Exercise
Options (description price
and conversion See Note Expiry date
7.7 factor) 15,929,562 Nil 6 See Note 6
------------- -------------- -------------- -----------------
Issued during See Note
7.8 quarter 3,500,000 Nil 6 See Note 6
------------- -------------- -------------- -----------------
7.9 Exercised Nil Nil See Note See Note 6
during quarter 6
------------- -------------- -------------- -----------------
Expired during
7.10 quarter 8,000,000 Nil
------------- --------------
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: ...31 January 2013......................
(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 December 2012:
Number Issued Number Quoted Exercise Price Expiry Date Lapsed Since End of quarter
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 -
3,500,000 - GBP0.25 30 November 2015 -
*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
== == == == ==
This information is provided by RNS
The company news service from the London Stock Exchange
END
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