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CZA - Coal of Africa Limited - Appendix 5B Mining exploration entity
quarterly report
Coal of Africa Limited
(previously, "GVM Metals Limited")
(Incorporated and registered in Australia)
(Registration number ABN 98 008 905 388)
JSE/ASX/AIM Share code: CZA
ISIN AU000000CZA6
(`CoAL` or `the Company`)
APPENDIX 5B MINING EXPLORATION ENTITY QUARTERLY REPORT
CoAL today, Friday, 29 July 2011, submitted to the Australian Securities
Exchange ("ASX") an Appendix 5B "Mining exploration entity quarterly
report":
QUOTE
NAME OF ENTITY
Coal of Africa Limited
ABN
98 008 905 388
QUARTER ENDED ("CURRENT QUARTER")
30 June 2011
CONSOLIDATED STATEMENT OF CASH FLOWS
Current Year to date
quarter (9 months)
Cash flows related to operating activities $A`000 $A`000
1.1 Receipts from product sales and related 111,286 306,357
debtors
1.2 Payments for - (1,628)
(a) exploration and evaluation - -
(b) development (64,338) (229,224)
(c) production (12,978) (32,617)
(d) administration (6,816) (42,231)
1.3 Dividends received - -
1.4 Interest and other items of a similar 448 1,767
nature received
1.5 Interest and other costs of finance paid (621) (1,517)
1.6 Income taxes paid - (8,155)
1.7 Other - -
Net operating cash flows 26,981 (7,248)
Cash flows related to investing activities
1.8 Payment for purchases of:
(a) prospects - (1,856)
(b) equity investments - (4,849)
(c) other fixed assets (15,131) (55,649)
1.9 Proceeds from sale of:
(a) prospects - -
(b) equity investments - -
(c) other fixed assets - 2,943
1.10 Loans to other entities - -
1.11 Loans repaid by other entities - -
1.12 Other (provide details if material - - -
Note 6)
Net investing cash flows (15,131) (59,411)
1.13 Total operating and investing cash 11,850 (66,659)
flows (carried forward)
Cash flows related to financing activities
1.14 Proceeds from issues of shares, 250 312
options, etc (net). see note 7.4 below
1.15 Proceeds from sale of forfeited shares - -
1.16 Proceeds from borrowings 10,953 31,876
1.17 Repayment of borrowings (8,018) (28,679)
1.18 Dividends paid - -
1.19 Other (Exchange rate related movements - -
in foreign borrowings and reserves)
Net financing cash flows 3,185 3,509
Net increase (decrease) in cash held 15,035 (63,150)
1.20 Cash at beginning of quarter/year to 25,113 101,063
date
1.21 Exchange rate adjustments to item 1.20 (5,268) (3,033)
1.22 Cash at end of quarter 34,880 34,880
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 1.2 337
1.24 Aggregate amount of loans to the parties included in
item 1.10 -
1.25 Explanation necessary for an understanding of the transactions
N/A
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
N/A
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
N/A
FINANCING FACILITIES AVAILABLE
Amount
Available Amount used
$A`000 $A`000
3.1 Loan facilities 16,434 30,753
3.2 Credit standby arrangements 9,976 -
ESTIMATED CASH OUTFLOWS FOR NEXT QUARTER
$A`000
4.1 Exploration and evaluation 617
4.2 Development 4,894
4.3 Production 45,215
4.4 Logistics 25,864
4.5 Administration 3,016
Total
79,606
RECONCILIATION OF CASH
Reconciliation of cash at the end of the Current Previous
quarter (as shown in the consolidated Quarter Quarter
statement of cash flows) to the related $A`000 $A`000
items in the accounts is as follows.
5.1 Cash on hand and at bank 19,257 23,475
5.2 Deposits at call 15,623 1,638
5.3 Bank overdraft - -
5.4 Other (provide details) - -
Total: cash at end of quarter (item 1.22) 34,880 25,113
CHANGES IN INTERESTS IN MINING TENEMENTS
Nature of Interest at Interest
Tenement interest beginning at end of
reference (note (2)) of 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
Total number Number quoted Issue price Amount paid
per up per
security security
(see note 3) (see note 3)
(cents) (cents)
7.1 Preference
securities Nil
7.2 Changes
during quarter
(a) Increases
through issues
(b) Decreases
through returns
of capital, buy-
backs,
redemptions
7.3 Ordinary 531,139,661 531,139,661
securities
7.4 Changes
during quarter
(a) Increases
through issues
(b) Decreases
through returns
of capital, buy-
backs
7.5 Convertible
debt securities Nil
7.6 Changes
during quarter
(a) Increases
through issues
(b) Decreases
through
securities
matured,
converted
7.7 Options 28,903,062 Nil Exercise Expiry date
(description price See Note 6
and conversion See Note 6
factor)
7.8 Issued Nil Nil See Note 6 See Note 6
during quarter
7.9 Exercised 500,000 Nil See Note 6 See Note 6
during quarter
7.10 Expired Nil Nil
during quarter
7.11 Debentures Nil
7.12 Unsecured Nil
notes
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.
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.
7 Issued and Quoted Options as at 30 September 2010:
Number Issued Number Quoted Exercise Expiry Date Lapsed Since
Price End of
quarter
8,450,000 - A$0.50 30 September 2011 -
7,000,000 - A$1.25 30 September 2012 -
250,000 - A$2.05 1 May 2012 -
1,000,000 - A$1.90 30 September 2012 -
600,000 - A$1.25 1 May 2012 -
1,650,000 - A$3.25 31 July 2012 -
912,500 - A$1.90 30 June 2014 -
5,000,000 - A$2.74 30 November 2014 -
2,500,000 - A$1.20 9 November 2015 -
1* - GBP0.60 1 November 2014 -
1,540,561 - A$1.40 30 September 2015 -
*1 Option to subscribe for 50 million ordinary shares for 60 pence each
between 1 November 2010 and 1 November 2014 as approved by shareholders on
22 April 2010
Signed: 29 July 2011
Company secretary: Shannon Coates
UNQUOTE
Johannesburg
29 July 2011
JSE Sponsor
Macquarie First South Advisers (Pty) Ltd
Date: 29/07/2011 07:27:01 Supplied by www.sharenet.co.za
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