TIDMCZA
RNS Number : 5531D
Coal of Africa Limited
30 January 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 December 2014
Consolidated statement of cash flows
Year to date
Cash flows related to operating Current quarter (6 months)
activities US$'000 US$'000
Receipts from product sales
1.1 and related debtors 522 1,320
Payments for (a) exploration
1.2 & evaluation (72) (156)
(b) development (688) (1,493)
(c) operations on care and
maintenance (500) (988)
(d) logistics - -
(e) administration (2,593) (5,230)
1.3 Dividends received - -
Interest and other items of
1.4 a similar nature received 64 215
Interest and other costs of
1.5 finance paid (1,043) (1,215)
1.6 Income taxes paid - -
1.7 Other (provide details if material) (11,403) (11,403)
Net Operating Cash Flows (15,713) (18,950)
----- -----------------------------------------------
Cash flows related to investing
activities
Payment for purchases of: (a)
prospects (6,236) (6,236)
(b) equity investments - -
1.8 (c) other fixed assets - -
Proceeds from sale of: (a)
prospects - -
(b) equity investments - 171
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) 1,014 3,320
Net investing cash flows (5,222) (2,745)
Total operating and investing
1.13 cash flows (carried forward) (20,935) (21,695)
----- ----------------------------------------------- -------------
Total operating and investing
1.13 cash flows (brought forward) (20,935) (21,695)
----- ----------------------------------
Cash flows related to financing
activities
Proceeds from issues of
1.14 shares, options, etc. 45,987 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) (5,815)
1.19 Dividends paid - -
1.20 Other (provide details if - -
material)
---------
Net financing cash flows 40,172 40,172
----- ---------------------------------- ---------
Net increase (decrease)
in cash held 19,237 18,477
Cash at beginning of quarter/year
1.21 to date 1,354 2,099
1.22 Exchange rate adjustments (19) (4)
---------
1.23 Cash at end of quarter 20,572 20,572
----- ---------------------------------- ---------
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
1.23 parties included in item 1.2 201
-
1.24 Aggregate amount of loans to the parties
included in item 1.10
------- ----------------------------------------------------
1.25 Explanation necessary for an understanding of the
transactions
Item 1.7 comprises the agreed settlement payment of
$10 million to Grindrod Corridor Management Proprietary
Limited and Terminal de Carvão da Matola Limitada
and, $1.4 million to Envicoal for the payment of the
arbitration award.
Other cash flows related to investing activities (Item
1.12) represent the decrease in restricted cash due
to the restructuring of rehabilitation guarantees.
Non-cash financing and investing activities
2.1 Details of financing and investing transactions which
have had a material effect on consolidated assets
and liabilities but did not involve cash flows
2.2 Details of outlays made by other entities to establish
or increase their share in projects in which the reporting
entity has an interest
Financing facilities available
Add notes as necessary for an understanding of the position.
Amount available Amount used
US$'000 US$'000
3.1 Loan facilities - -
3.2 Credit standby arrangements - -
---- ----------------------------- -------------
Estimated cash outflows for next quarter
US$'000
4.1 Exploration and evaluation 424
4.2 Development 1,289
4.3 Production 557
4.4 Logistics -
4.5 Administration 2,230
Total 4,500
---- ---------------------------
Reconciliation of cash
Reconciliation of cash at the Current quarter Previous quarter
end of the quarter (as shown in US$'000 US$'000
the consolidated statement of
cash flows) to the related items
in the accounts is as follows.
------------------------------------
5.1 Cash on hand and at bank 6,310 1,076
-----------------
5.2 Deposits at call 14,262 278
-----------------
5.3 Bank overdraft - -
-----------------
5.4 Other (provide details) - -
-----------------
Total: cash at end of quarter
(item 1.22) 20,572 1,354
---- ------------------------------ -----------------
Changes in interests in mining tenements
Tenement reference Nature of Interest Interest
interest at beginning at end
(note (2)) of quarter 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 Issue Amount
quoted price paid up
per security per security
(see note (see note
3) (cents) 3) (cents)
---------------------------------
7.1 Preference +securities Nil
(description)
-------------- -------------- -------------- --------------
7.2 Changes during quarter
----- -------------------------- -------------- -------------- -------------- --------------
7.3 +Ordinary securities 1,599,368,613 1,599,368,613
-------------- -------------- -------------- --------------
7.4 Changes during quarter
(a) Increases through 550,730,000 550,730,000
issues Nil Nil
(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
Exercise Expiry
price date
Options (description See Note See Note
7.7 and conversion factor) 18,168,989 Nil 6 6
7.8 Issued during quarter Nil Nil See Note See Note
6 6
-------------- -------------- --------------
7.9 Exercised during quarter Nil Nil See Note See Note
6 6
-------------- -------------- --------------
7.10 Cancelled during quarter 3,000,001* Nil
--------------
7.11 Debentures Nil
(totals only)
--------------
7.12 Unsecured notes (totals Nil
only)
--------------
*1 Option to subscribe for 50 million ordinary shares for 60
pence each expired on 1 November 2014 and a further 3,000,000
options with an exercise price of A$2.74 expired on 30 November
2014.
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:
...30 January 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 andAASB 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 2014:
Number Issued Number Exercise Expiry Date Lapsed
Quoted Price Since
End of
quarter
2,500,000 - A$1.20 9 November 2015 -
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 -
3,932,928 - ZAR1.75 30 June 2017 -
4,125,000 - ZAR2.00 30 June 2018 -
== == == == ==
This information is provided by RNS
The company news service from the London Stock Exchange
END
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