Q4 Financial Report
July 31 2006 - 3:01AM
UK Regulatory
RNS Number:9374G
Gippsland Limited
31 July 2006
Appendix 5B
Mining exploration entity quarterly report
Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.
Name of entity
GIPPSLAND LIMTED
ABN Quarter ended ("current quarter")
------------------- ------------------
31 004 766 376 30 June 2006
------------------- ------------------
Consolidated statement of cash flows
------------ ------------
Cash flows related to operating activities Current Year to date
quarter $A'000 (12 months)
$A'000
------------ ------------
------------
1.1 Receipts from product sales and related - -
debtors
1.2 Payments for
(a) exploration and evaluation (732) (2,012)
(b) development - -
(c) production - -
1.3 Dividends received - -
1.4 Interest and other items of a similar 14 30
nature received
1.5 Interest and other costs of finance paid - -
1.6 Income taxes paid - -
1.7 Other (provide details if material) - -
------ ---------------------- ------------ ------------
Net Operating Cash Flows (993) (3,458)
------ ---------------------- ------------ ------------
Cash flows related to investing activities
1.8 Payment for purchases of:
(a)prospects - -
(b)equity investments - -
(c) other fixed assets - (8)
1.9 Proceeds from sale of:
(a)prospects - -
(b)equity investments - -
(c)other fixed assets - -
1.10 Loans to other entities - Egyptian Mining - -
Company for Mineral Resources
1.11 Loans repaid by other entities - -
1.12 Other (provide details if material) - -
------------ ------------
Net investing cash flows - (8)
------------ ------------
1.13 Total operating and investing cash flows (993) (3,466)
------ (carried forward) ------------ ------------
----------------------
1.13 Total operating and investing cash flows (993) (3,466)
------ (brought forward) ------------ ------------
----------------------
Cash flows related to financing activities
1.14 Proceeds from issues of shares 2,700 7,005
1.15 Proceeds from sale of forfeited shares - -
1.16 Proceeds from borrowings - -
1.17 Repayment of borrowings - -
1.18 Dividends paid - -
1.19 Payments relating to capital raisings (12) (236)
------------ ------------
Net financing cash flows 2,688 6,769
------ ---------------------- ------------ ------------
Net increase (decrease) in cash held 1,695 3,303
1.20 Cash at beginning of quarter/year to date 2,211 589
1.21 Exchange rate adjustments to item 1.20 28 42
------------ ------------
1.22 Cash at end of quarter 3,934 3,934
------ ---------------------- ------------ ------------
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
$A'000
------------
------------
1.23 Aggregate amount of payments to the parties included in 127
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
------------------------------------------
Payments to Directors and director related entities
------------------------------------------
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
------------------------------------------
None
------------------------------------------
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
------------------------------------------
None
------------------------------------------
Financing facilities available
Add notes as necessary for an understanding of the position.
------------ ------------
Amount available Amount used
$A'000 $A'000
------------ ------------
3.1 Loan facilities - -
------------ ------------
3.2 Credit standby arrangements - -
----- ----------------------- ------------ ------------
Estimated cash outflows for next quarter
$A'000
----------------
4.1 Exploration and evaluation 500
----------------
4.2 Development -
----- ----------------------------- ----------------
Total 500
----- ----------------------------- ----------------
Reconciliation of cash
------------------------- ------------ ------------
Reconciliation of cash at the end of the quarter (as Current Previous
shown in the consolidated statement of cash flows) quarter quarter
to the related items in the accounts is as follows. $A'000 $A'000
------------------------- ------------ ------------
------------
5.1 Cash on hand and at bank 3,934 2,211
------------ ------------
5.2 Deposits at call - -
------------ ------------
5.3 Bank overdraft - -
------------ ------------
5.4 Other (provide details) - -
----- ---------------------- ------------ ------------
Total: cash at end of quarter (item 1.22) 3,934 2,211
----- ---------------------- ------------ ------------
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 - - - -
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 per Amount paid
-------------- --------- ---------- security (see up per
note 3) (cents) security
---------- (see note 3)
(cents)
-----------
-----------
7.1 Preference - - - -
------ +securities --------- ---------- ---------- -----------
(description)
----------
7.2 Changes during
quarter
(a) Increases - - -
through issues
(b) Decreases - - -
through returns
of capital,
buy-backs,
redemptions
------ ---------- --------- ---------- ---------- -----------
7.3 +Ordinary 232,851,926 232,851,926 - -
securities --------- ---------- ---------- -----------
7.4 Changes during 25,000,000 25,000,000 10.8 cents 10.8 cents
quarter
(a) Increases - - - -
through issues
(b) Decreases
------ through returns --------- ---------- ---------- -----------
of capital,
buy-backs
----------
7.5 +Convertible - - - -
debt securities --------- ---------- ---------- -----------
(description)
7.6 Changes during - - - -
quarter
(a) Increases
through issues
(b) Decreases
------ through --------- ---------- ---------- -----------
securities
matured,
converted
----------
7.7 Options Exercise price Expiry date
GIPO 43,738,393 43,738,393 9 cents 31/12/07
10,000,000 - 4 UK pence 31/12/07
2,250,000 - 15cents 31/12/07
25,000,000 - 13.5 cents 26/05/12
--------- ---------- ---------- -----------
7.8 Issued during 25,000,000 - 13.5 cents 26/5/12
quarter --------- ---------- ---------- -----------
7.9 Exercised
during quarter --------- ---------- ---------- -----------
7.10 Expired/ - -
Cancelled
during quarter
------ ---------- --------- ---------- ---------- -----------
7.11 Debentures - -
(totals only)
------ ---------- --------- ----------
7.12 Unsecured notes - -
(totals only) --------- ----------
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.
RS Middlemas
Company Secretary
25 July 2006
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.
== == == == ==
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