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TAW - Tawana - Quarterly activities and cash flow report
Tawana Resources NL
(Incorporated in Australia)
(Registration number ACN 085 166 721)
Share code on the JSE Limited: TAW
ISIN: AU000000TAW7
Share code on the Australian Stock Exchange Limited: TAW
ISIN: AU000000TAW7
("Tawana" or "the Company")
TAWANA RESOURCES N.L.
ABN: 69 085 166 721
Quarterly Activities and Cash Flow Report
1 July - 30 September 2009
SOUTH AFRICA
Kareevlei Wes Project, Kimberley Region, South Africa
(100% owned and operated by Tawana)
The Company is still pursuing Risk Free Investments 2 (Proprietary) Limited t/a
Agio Diamond Investments ("Agio") through the court system in South Africa to
recover damages.
During the past two (2) quarters the Company has been pursuing the possibility
of a joint venture partner to further evaluate this tenement by trial mining.
St. Augustines Kimberlite Project, Kimberley, South Africa
(Operated by Tawana; Tawana 30% equity in Vecto Trade 436 (Pty) Ltd)
No exploration work was carried out during the quarter.
BOTSWANA
Orapa Project
(Tawana 100%)
Discussions have continued with interested parties concerning a joint venture to
enable further evaluation of this highly prospective tenement.
AUSTRALIA
Corporate
Operating expenses have been reduced substantially and this will continue
whenever possible.
Effective immediately, Mr Winton Willesee and Mr Aaron Finlay have been
appointed Joint Company Secretaries.
The registered office of the company has changed to:
C/- Azalea Consulting
Level 1
2 Ross Place
South Melbourne VIC 3205.
FUNDING
The Company has completed a partial rights issue raising $87,802.07 by the issue
of 17,560,414 shares.
The Company successfully negotiated and settled (post the end of this quarter) a
loan to the Company of $350,000 which is secured by a debenture over the assets
of the Company. This will, subject to shareholders approval, be converted into
convertible notes to the value of $350,000, by issuing notes which, if converted
will mean 70,000,000 shares will be issued. These convertible notes cannot be
converted for six (6) months post the receipt of funds.
The injection of funds through the partial rights issue and the loan funds has
strengthened the financial position of the Company.
The Company has sent (post the end of this quarter) a Notice of Extraordinary
General Meeting to Shareholders seeking their approval of a further placement of
82,439,586 shares to raise $412,197.93 and approval for the convertible notes
issue.
Details of the rights issue will be circulated to shareholders during the last
quarter of this year.
Contact:
Euan Luff
Tel: +61 (0)3 9224 1000
Tawana Resources- a world class diamond and mineral exploration company listed
on the Australian and Johannesburg Stock Exchanges committed to the principles
of enhancing shareholder value through being ethically, socially and
environmentally conscious corporate citizens.
Rule 5.3
Appendix 5B - 3rd Quarter
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
Tawana Resources N.L.
ABN 69 085 166 721
Quarter ended ("current quarter")
30 September 2009
CONSOLIDATED STATEMENT OF CASH FLOWS
Current Year to date
Cash flows related to operating quarter (9 months)
activities $A`000 $A`000
1.1 Receipts from product sales - -
and related debtors
1.2 Payments for
(a) exploration (112) (222)
and evaluation
(b) development - -
(c) production - -
(d) administration (314) (470)
1.3 Dividends received - -
1.4 Interest received 6 6
1.5 Interest and other costs of - -
finance paid
1.6 Income taxes paid - -
1.7 Other (provide details if - 5
material)
(VAT Refund from SARS)
Net Operating Cash Flows (420) (681)
Cash flows related to
investing activities
1.8 Payment for purchases of:
(a)prospects - -
(b)equity investments - -
(c) other fixed assets - -
1.9 Proceeds from sale of:
(a)prospects - -
(b)equity investments - -
(c) other fixed assets 145 195
1.10 Loans to other entities - -
1.11 Loans repaid by other - -
entities
Net investing cash flows 145 195
1.13 Total operating and
investing cash flows (275) (486)
Cash flows related to
financing activities
1.14 Proceeds from issues of 88 88
shares, options, etc.
1.15 Proceeds from sale of - -
forfeited shares
1.16 Proceeds from borrowings 225 425
1.17 Repayment of borrowings - -
1.18 Dividends paid - -
1.19 Other (provide details if - -
material)
Net financing cash flows
313 513
Net increase (decrease) in 38 27
cash held
1.20 Cash at beginning of 2 13
quarter/year to date
1.21 Exchange rate adjustments - -
to item 1.20
1.22 Cash at end of quarter
40 40
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
1.24 Aggregate amount of loans to the parties -
included in item 1.10
1.25 Explanation necessary for an understanding of the
transactions
NA
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
Nil
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
Nil
Financing facilities available
Add notes as necessary for an understanding of the position.
Amount Amount used
available $A`000
$A`000
3.1 Loan facilities Nil Nil
3.2 Credit standby arrangements Nil Nil
Estimated cash outflows for next quarter
$A`000
4.1 Exploration and evaluation 0
4.2 Development 0
Total 0
Reconciliation of cash
Reconciliation of cash at the end Current Previous
of the quarter (as shown in the quarter quarter
consolidated statement of cash $A`000 $A`000
flows) to the related items in the
accounts is as follows.
5.1 Cash on hand and at bank 40 2
5.2 Deposits at call
- -
5.3 Bank overdraft
- -
5.4 Other (provide details)
- -
Total: cash at end of
quarter (item 1.22) 40 2
Changes in interests in mining tenements
Tenement Nature of Interest Interest
reference interest at at end of
(note (2)) beginning quarter
of
quarter
6.1 Interests
in mining
tenements
relinquish
ed,
reduced or
lapsed
6.2 Interests
in mining
tenements
acquired
or
increased
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.
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 Issue Amount
quoted price paid up
per per
security security
7.1 Preference
+securities Nil Nil
(description)
7.2 Changes
during
quarter
(a)
Increases
through
issues
(b)
Decreases
through
returns of
capital, buy-
backs,
redemptions
7.3 +Ordinary 134,699,268 134,699,268 Various Various
securities
7.4 Changes
during
quarter
(a) 17,560,414 17,560,414 $0.005 $0.005
Increases
through
issues
(b) Increase - -
through
exercise of
options
7.5 +Convertible 6,666,667 - $0.03 $0.03
debt
securities
(description)
7.6 Changes
during
quarter
(a) - -
Increases
through
issues
(b) - -
Decreases
through
securities
matured,
converted
7.7 Options Exercise Expiry
(description 37,130,053 13,240,053 price date
and various various
conversion
factor)
7.8 Issued during Nil Nil
quarter
7.9 Exercised Nil Nil
during
quarter
7.10 Expired (5,300,000) - $0.15 11/09/20
during 09
quarter
7.11 Debentures Nil Nil
(totals only)
7.12 Unsecured Nil Nil
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: 30th October, 2009
(Director)
Print name: Euan Luff
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.
Sponsor: PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 30/10/2009 09:43:00 Supplied by www.sharenet.co.za
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