Quarterly Cashflow Report
July 26 2007 - 3:01AM
UK Regulatory
RNS Number:8182A
Gippsland Limited
26 July 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 30 June 2007
Consolidated statement of cash flows
Current quarter Year to date (12.months)
Cash flows related to operating activities $A'000 $A'000
1.1 Receipts from product sales and related debtors
1.2 Payments for (a) exploration and evaluation (382) (1,751)
(b) development (32) (285)
(c) production
(d) administration (558) (1,915)
1.3 Dividends received
1.4 Interest and other items of a similar nature
received 9 122
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 (963) (3,829)
Cash flows related to investing activities
1.8 Payment for purchases of: (a)prospects
(b)equity investments (46) (216)
(c)other fixed assets
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 (46) (216)
1.13 Total operating and investing cash flows
(carried forward) (1,009) (4,045)
1.13 Total operating and investing cash flows (brought
forward) (1,009) (4,045)
Cash flows related to financing activities
1.14 Proceeds from issues of shares, options, etc. 2,896 2,897
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) (145) (145)
Net financing cash flows 2,751 2,752
Net increase (decrease) in cash held 1,742 (1,293)
1.20 Cash at beginning of quarter/year to date 899 3,934
1.21 Exchange rate adjustments to item 1.20 (26) (26)
1.22 Cash at end of quarter 2,615 2,615
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 item 1.2 121
1.24 Aggregate amount of loans to the parties included in item 1.10 Nil
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 430
4.2 Development 72
Total 502
Reconciliation of cash
Reconciliation of cash at the end of the quarter Current quarter Previous quarter
(as shown in the consolidated statement of cash
flows) to the related items in the accounts is as $A'000 $A'000
follows.
5.1 Cash on hand and at bank 320 449
5.2 Deposits at call 2,295 450
5.3 Bank overdraft
5.4 Other (provide details)
Total: cash at end of quarter (item 1.22) 2,615 899
Changes in interests in mining tenements
Tenement Nature of interest Interest at Interest at
reference beginning of end of
(note (2)) 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 per Amount paid up per
security (see note security (see note 3)
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 259,524,592 259,524,592
securities
7.4 Changes during
quarter
(a) Increases
through issues 26,666,666 26,666,666
(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 43,732,393 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 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.
Sign here: ............................... Date: .26 July 2007............
Company Secretary
Print name: R Caren
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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The company news service from the London Stock Exchange
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