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CZA - Coal of Africa Limited - Appendix 5B: Mining exploration entity
quarterly report
Coal of Africa Limited
(Incorporated and registered in Australia)
(Registration number ABN 008 905 388)
ISIN AU000000CZA6
JSE/ASX/AIM share code: CZA
("CoAL or the "Company" or the "Group")
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
Coal of Africa Limited
ABN Quarter ended ("current
quarter")
98 008 905 388 31 March 2012
Consolidated statement of cash flows
Year to date
Cash flows related to operating Current (9 months)
activities quarter US$`000
US$`000
1.1 Receipts from product sales 32,460 177,076
and related debtors
1.2 Payments for (a) (1,567) (5,041)
exploration & evaluation (5,319) (8,239)
(b) development (13,164) (125,278)
(c) production (22,745) (56,512)
(d) logistics (7,202) (21,513)
(e) administration
1.3 Dividends received - -
1.4 Interest and other items of a 373 900
similar nature received
1.5 Interest and other costs of (826) (1,434)
finance paid
1.6 Income taxes paid - (3,212)
1.7 Other (provide details if - -
material)
(17,990) (43,253)
Net Operating Cash Flows
Cash flows related to
investing activities
Appendix 5B Page 1
1.8 Payment for purchases of: - -
(a) prospects - -
(b) equity investments (3,909) (18,066)
(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 (3,501) (3,959)
material)
(7,410) (22,025)
Net investing cash flows
1.13 Total operating and investing (25,400) (65,278)
cash flows (carried forward)
1.13 Total operating and investing (25,400) (65,278)
cash flows (brought forward)
Cash flows related to
financing activities
1.14 Proceeds from issues of - 103,032
shares, options, etc.
1.15 Proceeds from sale of - -
forfeited shares
1.16 Proceeds from borrowings - 7,526
1.17 Repayment of borrowings (8,674) (10,220)
1.18 Dividends paid - -
1.19 Other (provide details if (1,919) -
material)
Net financing cash flows (10,593) 100,338
(35,993) 35,060
Net increase (decrease) in
cash held
1.20 Cash at beginning of 89,206 22,761
quarter/year to date
1.21 Exchange rate adjustments to 2,553 (2,055)
item 1.20
1.22 Cash at end of quarter 55,766 55,766
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$`000
445
1.23 Aggregate amount of payments to the
parties included in item 1.2
-
1.24 Aggregate amount of loans to the parties
included in item 1.10
1.25 Explanation necessary for an understanding of the
transactions
Non-cash financing and investing activities
2.1 Details of financing and investing transactions which
have had a material effect on consolidated assets and
liabilities but did not involve cash flows
2.2 Details of outlays made by other entities to establish or
increase their share in projects in which the reporting
entity has an interest
Financing facilities available
Add notes as necessary for an understanding of the position.
Amount Amount used
available US$`000
US$`000
3.1 Loan facilities 17,500 32,500
3.2 Credit standby arrangements 1,547 2,899
3.3 New Bank Facility (Refer 40,000 nil
Note 7 below)
Estimated cash outflows for next quarter
US$`000
4.1 Exploration and evaluation 8,700
4.2 Development 14,900
4.3 Production 43,600
4.4 Logistics 30,400
4.5 Administration 13,300
Total 110,900
Reconciliation of cash
Reconciliation of cash at the Current Previous
end of the quarter (as shown in quarter quarter
the consolidated statement of US$`000 US$`000
cash flows) to the related
items in the accounts is as
follows.
5.1 Cash on hand and at bank 22,732 26,353
5.2 Deposits at call 33,034 62,853
5.3 Bank overdraft - -
5.4 Other (provide details) - -
Total: cash at end of 55,766 89,206
quarter (item 1.22)
Changes in interests in mining tenements
Tenement Nature of Interest at Interest at
reference interest 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 Issue Amount paid
number quoted price per up per
security security
(see note (see note
3) (cents) 3) (cents)
7.1 Preferenc Nil
e
+securiti
es
(descript
ion)
7.2 Changes
during
quarter
7.3 +Ordinary 662,484,57 662,484,57
securitie 3 3
s
7.4 Changes
during
quarter 200,000 200,000
(a)
Increases
through
issues
(b)
Decreases
through
returns
of
capital,
buy-backs
7.5 +Converti Nil
ble debt
securitie
s
(descript
ion)
7.6 Changes
during
quarter
(a)
Increases
through
issues
(b)
Decreases
through
securitie
s
matured,
converted
7.7 Options 22,929,562 Nil Exercise Expiry date
(descript price See Note 6
ion and See Note 6
conversio
n factor)
7.8 Issued 2,680,000 Nil See Note 6 See Note 6
during
quarter
7.9 Exercised Nil Nil See Note 6 See Note 6
during
quarter
7.10 Expired Nil Nil
during
quarter
7.11 Debenture Nil
s
(totals
only)
7.12 Unsecured Nil
notes
(totals
only)
+ See Chapter 19 for defined terms
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.
Signed by: Shannon Coates
30 April 2012
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.
6 Issued and Quoted Options as at 31 March 2012:
Number Number Exercis Expiry Date Lapsed
Issued Quoted e Price Since End
of
quarter
7,000,00 - A$1.25 30 September -
0 - A$2.05 2012 -
250,000 - A$1.90 1 May 2012 -
1,000,00 - A$1.25 30 September -
0 - A$3.25 2012 -
600,000 - A$1.90 1 May 2012 -
1,650,00 - A$2.74 31 July 2012 -
0 - A$1.20 30 June 2014 -
818,500 - GBP0.60 30 November -
5,000,00 - A$1.40 2014 -
0 - ZAR7.60 9 November 2015 -
2,500,00 1 November 2014
0 30 September
1* 2015
1,441,06 1 July 2014
1
2,670,00
0
*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
7 New Bank Facility (final condition precedent fulfilled post 31 March
2012)
The remaining condition precedent for the previously announced US$40
million New Bank Facility was fulfilled post period end on 27 April 2012.
The 364 day senior unsecured revolving credit facility entered into with
JP Morgan Australia Limited, bears interest at the London Interbank Offer
Rate (LIBOR) plus 300 basis points. No amount has been drawn down against
the New Bank Facility at the date of this report.
Date: 30/04/2012 09:43:09 Supplied by www.sharenet.co.za
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