3rd Quarter Financial Report
April 30 2007 - 5:36AM
UK Regulatory
RNS Number:7385V
Gippsland Limited
30 April 2007
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.
Name of entity
Gippsland Limited
ABN Quarter ended ("current quarter")
31 004 766 376 31 March 2007
Consolidated statement of cash flows
Current quarter Year to date
(9.months)
Cash flows related to operating $A'000 $A'000
activities
1.1 Receipts from product sales and
related debtors
1.2 Payments for (a) exploration and (672) (1,369)
evaluation
(b) development (79) (253)
(c) production
(d) administration (522) (1,357)
1.3 Dividends received
1.4 Interest and other items of a
similar nature received 55 113
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 (1,218) (2,866)
Cash flows related to investing activities
1.8 Payment for purchases of:
(a) prospects
(b)equity investments
(c)other fixed assets (39) (170)
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)
Net investing cash flows (39) (170)
1.13 Total operating and investing cash
flows (carried forward) (1,257) (3,036)
1.13 Total operating and investing cash
flows (brought forward) (1,257) (3,036)
Cash flows related to financing activities
1.14 Proceeds from issues of shares,
options, etc. 1 1
1.15 Proceeds from sale of forfeited shares
1.16 Proceeds from borrowings
1.17 Repayment of borrowings
1.18 Dividends paid
1.19 Other (provide details if material)
Net financing cash flows 1 1
Net increase (decrease) in cash held (1,256) (3,035)
1.20 Cash at beginning of quarter/year 2,195 3,934
to date
1.21 Exchange rate adjustments to item (40) -
1.20
1.22 Cash at end of quarter 899 899
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 174
included in item 1.2
1.24 Aggregate amount of loans to the parties included Nil
in item 1.10
1.25 Explanation necessary for an understanding of the transactions
Payments of consulting fees and directors fees 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 A$500,000
4.2 Development -
Total A$500,000
Reconciliation of cash
Reconciliation of cash at the end of Current quarter Previous quarter
the quarter (as shown in the
consolidated statement of cash flows) $A'000 $A'000
to the related items in the accounts is
as follows.
5.1 Cash on hand and at bank 899 2,189
5.2 Deposits at call
5.3 Bank overdraft
5.4 Other (provide details)
Total: cash at end of quarter 899 2,189
(item 1.22)
Changes in interests in mining tenements
Tenement Nature of interest Interest Interest
reference at at end of
(note (2)) beginning 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 quoted Issue price Amount paid up
per security per security
(see note 3) (see note 3)
(cents) (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 232,857,926 232,857,926
securities
7.4 Changes during
quarter
(a) Increases
through issues 6,000 6,000
(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 Expiry date
price
GIPO 43,732,393 43,732,393 9 cents 31/12/07
10,000,000 - 4 UK pence 31/12/07
4,500,000 - 15 cents 31/12/07
25,000,000 - 13.5 cents 26/05/12
7.8 Issued during
quarter
7.9 Exercised 6,000 6,000 9 cents 31/12/07
during quarter
7.10 Expired 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.
RJ Telford
Director
26 April 2007
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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