REG - Metminco Limited - Appendix 5B - Exploratory Entity Quarterly Report

Wed Aug 1, 2012 2:02am EDT

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RNS Number : 9763I
Metminco Limited
01 August 2012
 



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

Metminco Limited

 

ABN


Quarter ended ("current quarter")

43 119 759 349


30 June 2012

 

Consolidated statement of cash flows

 

Cash flows related to operating activities

 

Current quarter

$A'000

Year  to date 6.months

$A'000

1.1

Receipts from product sales and related debtors



1.2

Payments for   (a) exploration and evaluation

(10,129)

(19,262)


                           (b) development

-

-


                        (c) production

-

-


                        (d) administration

(1,563)

(3,298)

1.3

Dividends received

-

-

1.4

Interest and other items of a similar nature received

100

 

149

 

1.5

Interest and other costs of finance paid

-

-

1.6

Income taxes paid

-

-

1.7

Other (bank charges)

(6)

(12)


Net Operating Cash Flows

(11,598)

(22,423)


 

Cash flows related to investing activities



1.8

Payment for purchases of:    (a)prospects

                                                  (b)equity investments

                                                  (c) other fixed assets

-

-

(33)

-

-

(246)

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

(33)

(246)





1.13

Total operating and investing cash flows (carried forward)

(11,631)

(22,669)



 

1.13

Total operating and investing cash flows (brought  forward)

(11,631)

(22,669)


 

Cash flows related to financing activities



1.14

Proceeds from issues of shares, options, etc.

-

10,511


Costs of issue

-

(1,255)

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 (proceeds from equity swap)

360

735


Net financing cash flows

360

9,991


 

Net increase (decrease) in cash held

 

 

(11,271)

 

 

(12,678)

 

1.20

Cash at beginning of quarter/year to date

42,322

44,032

1.21

Exchange rate adjustments to item 1.20

1,226

923

1.22

Cash at end of quarter

32,277

32,277

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

 

301

 

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 1.23 includes aggregate amounts paid to directors for the period 01 Apr 12 - 30 June 12 for:

Directors' fees: $231,250

Directors' services and consulting fees: 70,199

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

$A'000

Amount used

$A'000

3.1

Loan facilities

-

-

3.2

Credit standby arrangements

-

-

 

Estimated cash outflows for next quarter



$A'000

4.1

Exploration and evaluation

10,000

4.2

Development

-

4.3

Production

-

4.4

Administration

1,300


 

Total

 

11,300

 

Reconciliation of cash

Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.

Current quarter

$A'000

Previous quarter

$A'000

5.1

Cash on hand and at bank

32,277

42,322

5.2

Deposits at call

-

-

5.3

Bank overdraft

-

-

5.4

Other (provide details)

-

-


Total: cash at end of quarter (item 1.22)

32,277

42,322

 

Changes in interests in mining tenements

 



Tenement reference

Nature of interest

(note (2))

Interest at beginning of quarter

Interest at end 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 per

security

(see note 3) (cents)

Amount paid

up per

security

(see note 3)

(cents)

7.1

Preference

+securities

(description)





7.2

Changes

during quarter

(a)  Increases through issues

Is 

(b)  Decreases through

returns of capital, buy

backs, redemptions





7.3

+Ordinary securities

1,749,541,573

1,749,541,573



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

and conversion factor)

Listed:

27,217,517

 

Unlisted:

4,500,000

 

14,250,000

14,250,000

 

2,000,000

2,000,000

 

2,500,000

2,500,000

 

2,000,000

2,000,000

 

Listed:

27,217,517

 

Unlisted:

4,500,000

 

14,250,000

14,250,000

 

2,000,000

2,000,000

 

2,500,000

2,500,000

 

2,000,000

2,000,000

Exercise price

A$0.25

 

 

A$ 0.30

 

A$ 0.44

A$ 0.525

 

A$ 0.44

A$ 0.525

 

A$ 0.215

A$ 0.260

 

A$ 0.175

A$ 0.210

Expiry date:

04 Dec 2012

 

 

31 Jul 2012

 

06 Dec 2013

06 Dec 2013

 

06 Dec 2013

06 Dec 2013

 

05 Dec 2014

05 Dec 2014

 

15 Jun 2015

15 Jun 2015

7.8

Issued during quarter

2,000,000

2,000,000

 

2,000,000

2,000,000

 

A$ 0.175

A$ 0.210

15 Jun 2015

15 Jun 2015

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.

                                          

 

(Director/Company secretary)

Print name:            Philip Killen

 

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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