TIDMLRL
RNS Number : 0684Z
Leyshon Resources Limited
03 February 2014
Leyshon Resources Limited
31 January 2014
DECEMBER 2013 QUARTERLY REPORT
Leyshon Resources Limited (AIM/ASX:LRL) ("Leyshon" or the
"Company") is pleased to provide an update on its activities
undertaken during the fourth quarter of 2013.
Demerger
The Company advised that subsequent to quarter end that the
demerger of the Company's energy assets was implemented on 23
January 2014 via the in-specie distribution of 100% of the ordinary
shares of Leyshon Energy Limited to eligible shareholders of the
Company as at the record date of 20 January 2014. Shares in Leyshon
Energy Limited commenced trading on the AIM market of the London
Stock Exchange on 23 January 2014.
The distribution was a 1:1 exchange (for each share held in
Leyshon Resources Limited, the shareholder received one share in
Leyshon Energy Limited). The Company advises that the dispatch of
share certificates occurred on 24 January 2014.
The Company expects to provide an estimate of the split between
the book value of the respective shareholdings for taxation
purposes around March of this year. The advice will be indicative
and for guidance for the purpose of allowing shareholders to
allocate the cost base between LRL and LEN shareholdings.
Board Changes
During the quarter the Company advised that that Mr. John
Fletcher resigned from the Board of directors with effect from 25
November 2013.
Mr. Richard Seville, a non-executive director of the Company,
has agreed to assume the position of non-executive Chairman during
the Company's transition period following the departure of Mr.
Fletcher.
The Company is in active discussion with a potential new
Managing Director. Following the appointment of a new Managing
Director, Mr. Paul Atherley will remain as a Non-Executive Director
until a new board member is identified.
Acquisitions
The Company has been active in generating and reviewing
acquisition and joint venture opportunities during the quarter.
Cash and Liquidity
The Company has a cash position of approximately US$3 million
(unaudited), held mainly in US dollars.
For further information please contact:
Leyshon Resources Limited
Paul Atherley - Managing Director
Tel: +86 137 1800 1914
admin@leyshonresources.com
Cantor Fitzgerald Europe
David Porter/Rick Thompson (Nominated Adviser)
Richard Redmayne (Corporate broking)
Tel: +44 (0)207 894 7000
http://www.leyshonresources.com
Leyshon Resources Limited held the following interests in
exploration tenements at the end of the quarter:
PROJECT BENEFICIAL INTEREST TENEMENT NAME
AUSTRALIA
MOUNT LEYSHON
100% ML 1546 Golden Star
100% ML 10144 Mt Leyshon
100% ML 10148 Puddler Creek
Water Dam Gap
100% ML 10149 Creek
100% ML 10172 Eastern Star
100% ML 10173 Southern Star
CHINA
ZIJINSHAN PSC 100% in the exploration phase Zijinshan Psc
reducing to 60% in the development
and production phase
There were no tenements acquired or disposed of during the
quarter and no changes in the beneficial interests held by the
Company.
Appendix 5B
Mining exploration entity quarterly report
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
LEYSHON RESOURCES LIMITED
-------------------------
ABN Quarter ended ("current
quarter")
75 010 482 274 31 December 2013
--------------- -----------------------
Consolidated statement of cash flows
Cash flows related to operating Current quarter Year to date
activities
(12 months)
$US'000 $US'000
---------------- -------------
1.1 Receipts from product sales - -
and related debtors
Payments for (a) exploration
& evaluation (1,785) (6,004)
(b) development - -
(c) production - -
1.2 (d) administration (430) (1,621)
1.3 Dividends received - -
Interest and other items
1.4 of a similar nature received 3 1,268
1.5 Interest and other costs - -
of finance paid
1.6 Income taxes paid (21) (216)
Other Mt Leyshon holding
1.7 costs (169) (725)
Net Operating Cash Flows (2,402) (7,298)
----- ---------------------------------- ---------------- -------------
Cash flows related to investing
activities
Payment for purchases of:
(a) prospects - -
(b) equity investments - -
1.8 (c) other fixed assets (17) (126)
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 - -
Net investing cash flows (17) (126)
---------------- -------------
Total operating and investing
1.13 cash flows (carried forward) (2,419) (7,424)
----- ---------------------------------- ---------------- -------------
Total operating and investing
1.13 cash flows (brought forward) (2,419) (7,424)
----- ----------------------------------
Cash flows related to financing
activities
1.14 Proceeds from issues of shares, - -
options, etc.
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 - Share buy-back costs - -
Other - Transaction costs - -
---------- ----------
Net financing cash flows
- -
----- ---------------------------------- ----------
Net increase (decrease) in
cash held (2,419) (7,424)
Cash at beginning of quarter/year
1.20 to date 38,349 47,254
Exchange rate adjustments
1.21 to item 1.20 (271) (3,629)
---------- ----------
1.22 Cash at end of quarter 36,201 36,201
----- ---------------------------------- ---------- ----------
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 1.2 190
----------------
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 include managing director's remuneration and
non-executive directors' fees.
-----------------------------------------------------------------------------
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
Not Applicable.
-------------------------------------------------------
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
Not Applicable.
------------------------------------------------------------
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 200
--------
4.2 Development
-
--------
4.3 Production
-
--------
4.4 Administration 300
--------
Total 500
---- --------------------------- --------
Reconciliation of cash
Reconciliation of cash at the Current quarter Previous quarter
end of the quarter (as shown $US'000 $US'000
in the consolidated statement
of cash flows) to the related
items in the accounts is as follows.
---------------------------------------- ---------------- -----------------
5.1 Cash on hand and at bank 36,201 38,349
---------------- -----------------
5.2 Deposits at call
- -
---------------- -----------------
5.3 Bank overdraft
- -
---------------- -----------------
5.4 Other (provide details)
- -
---------------- -----------------
Total: cash at end of quarter
(item 1.22) 36,201 38,349
----- --------------------------------- ---------------- -----------------
Changes in interests in mining tenements
Tenement Nature of interest Interest Interest
reference (note (2)) at beginning at end
of quarter of quarter
----------- ------------------- -------------- ------------
6.1 Interests in mining None - - -
tenements relinquished,
reduced or lapsed
----------- ------------------- -------------- ------------
6.2 Interests in mining None - - -
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)
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
----- --------------------- ------------- -------------- --------------- -----------------
+Ordinary
7.3 securities 249,457,212 249,457,212 Not Applicable Not Applicable
------------- -------------- --------------- -----------------
7.4 Changes during
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 (description Exercise Expiry date
and conversion price
factor)
------------- -------------- --------------- -----------------
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 /does not* (delete one) give a true and
fair view of the matters disclosed.
Sign here:
............................................................ Date:
..31 January 2014 .
(Director/Company secretary)
Print name: MURRAY WYLIE
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.
== == == == ==
This information is provided by RNS
The company news service from the London Stock Exchange
END
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