Wrap Text
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")
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
Coal of Africa Limited
ABN Quarter ended (“current quarter”)
98 008 905 388 30 September 2012
Consolidated statement of cash flows
Year to date
Cash flows related to operating activities Current quarter (3 months)
US$’000 US$’000
1.1 Receipts from product sales and related debtors
45,023 45,023
1.2 Payments for (a) exploration & evaluation (4,926) (4,926)
(b) development (13,607) (13,607)
(c) production (41,382) (41,382)
(d) logistics (14,840) (14,840)
(e) administration (10,106) (10,106)
1.3 Dividends received - -
1.4 Interest and other items of a similar nature
192 192
received
1.5 Interest and other costs of finance paid (328) (328)
1.6 Income taxes paid - -
1.7 Other (provide details if material) - -
Net Operating Cash Flows (39,974) (39,974)
Cash flows related to investing activities
1.8 Payment for purchases of: (a) prospects - -
(b) equity investments - -
(c) other fixed assets (4,355) (4,355)
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 material) (296) (296)
Net investing cash flows (4,651) (4,651)
1.13 Total operating and investing cash flows (carried
(44,625) (44,625)
forward)
+ See chapter 19 for defined terms.
30/9/2001 Appendix 5B Page 1
Appendix 5B
Mining exploration entity quarterly report
+ See chapter 19 for defined terms.
Appendix 5B Page 2 30/9/2001
1.13 Total operating and investing cash flows (brought
(44,625) (44,625)
forward)
Cash flows related to financing activities
1.14 Proceeds from issues of shares, options, etc. 51,673 51,673
1.15 Proceeds from sale of forfeited shares - -
1.16 Proceeds from borrowings 5,000 5,000
1.17 Repayment of borrowings (736) (736)
1.18 Dividends paid - -
1.19 Other (provide details if material) - -
Net financing cash flows 55,937 55,937
Net increase (decrease) in cash held 11,312 11,312
1.20 Cash at beginning of quarter/year to date 19,523 19,523
1.21 Exchange rate adjustments to item 1.20 (516) (516)
1.22 Cash at end of quarter 30,319 30,319
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$'000
1.23 Aggregate amount of payments to the parties included in item 1.2 668
1.24 Aggregate amount of loans to the parties included in item 1.10 -
1.25 Explanation necessary for an understanding of the transactions
Non-cash financing and investing activities
2.1 Details of financing and investing transactions which have had a material effect on consolidated
assets and liabilities but did not involve cash flows
2.2 Details of outlays made by other entities to establish or increase their share in projects in which
the reporting entity has an interest
+ See chapter 19 for defined terms.
30/9/2001 Appendix 5B Page 3
Appendix 5B
Mining exploration entity quarterly report
Financing facilities available
Add notes as necessary for an understanding of the position.
Amount available Amount used
US$’000 US$’000
3.1 Loan facilities - 37,500
3.2 Credit standby arrangements - ** - **
*At 30 June 2012 the Company breached certain Total Equity covenants relating to the Deutsche Bank
facility resulting in the remaining US$12.5 million of the facility being unavailable.
** The Company has not been able to draw down against the US$40.0 million JP Morgan Limited
facility and the facility will expire on 3 November 2012. The Company will not renew this facility.
Estimated cash outflows for next quarter
US$’000
4.1 Exploration and evaluation 6,800
4.2 Development 17,471
4.3 Production 29,131
4.4 Logistics 9,267
4.5 Administration 3,101
65,770
Total
Reconciliation of cash
Reconciliation of cash at the end of the quarter (as Current quarter Previous quarter
shown in the consolidated statement of cash flows) to US$’000 US$’000
the related items in the accounts is as follows.
5.1 Cash on hand and at bank 19,372 19,479
5.2 Deposits at call 10,947 44
5.3 Bank overdraft - -
5.4 Other (provide details) - -
Total: cash at end of quarter (item 1.22) 30,319 19,523
+ See chapter 19 for defined terms.
Appendix 5B Page 4 30/9/2001
Changes in interests in mining tenements
Tenement Nature of Interest at Interest at
reference interest beginning of end of quarter
(note (2)) quarter
6.1 Interests in mining tenements Refer note 7
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 Amount paid up
security (see per security (see
note 3) (cents) note 3) (cents)
7.1 Preference Nil
+securities
(description)
7.2 Changes during
quarter
7.3 +Ordinary 800,951,034 800,951,034
securities
7.4 Changes during
quarter
(a) Increases 134,627,206 134,627,206
through issues
(b) Decreases
through returns of
capital, buy-backs
7.5 +Convertible Nil
debt securities
(description)
7.6 Changes during
quarter
(a) Increases
through issues
(b) Decreases
through securities
matured,
converted
7.7 Options 20,429,562 Nil Exercise price Expiry date
(description and See Note 6 See Note 6
conversion factor)
7.8 Issued during Nil Nil See Note 6 See Note 6
quarter
7.9 Exercised during Nil Nil See Note 6 See Note 6
quarter
7.10 Expired during 1,650,000 Nil
quarter
+ See chapter 19 for defined terms.
30/9/2001 Appendix 5B Page 5
Appendix 5B
Mining exploration entity quarterly report
7.11 Debentures Nil
(totals only)
7.12 Unsecured notes Nil
(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.
31 October 2012
Sign here: ............................................................ Date: ............................
(Company secretary)
SHANNON COATES
Print name: .........................................................
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 30 September 2012:
+ See chapter 19 for defined terms.
Appendix 5B Page 6 30/9/2001
Number Issued Number Exercise Expiry Date Lapsed Since End
Quoted Price of quarter
7,000,000 - A$1.25 30 September 2012 -
1,000,000 - A$1.90 30 September 2012 -
818,500 - 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 -
1,441,061 - A$1.40 30 September 2015 -
2,670,000 - ZAR7.60 14 February 2017 -
- -
*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 Interests in mining tenements relinquished, reduced or lapsed
Interest at the Interest at the
Nature of beginning of the end of the
Tenement Reference interest quarter quarter
Kanowna West* M27/41 Refer note 7.1 23.68% 9.47%
M27/47 below 23.68% 9.47%
M27/59 23.68% 9.47%
M27/72,27/73 23.68% 9.47%
M27/114 23.68% 9.47%
M27/196 23.68% 9.47%
M27/414,27/415 23.68% 9.47%
P27/1826-1829 23.68% 9.47%
P27/1830-1842 23.68% 9.47%
P27/1887 23.68% 9.47%
Kalbara* M27/181 Refer note 7.1 21.31% 8.52%
below
Abbotshall Royalty ML63/409,410 Royalty Royalty
Kookynie Royalty ML40/061 Royalty Royalty
ML40/135,136 Royalty Royalty
Note 7.1: Tenements are the subject of a joint venture (JV) arrangement with Barrick (PD)
Australia Limited. On 28 August 2012, Barrick confirmed it had met certain criteria
required to earn a 60% interest in the tenements, reducing CoAL’s interest to a fully
diluted position of 9.47% in respect to the Kanowna West JV and 8.52% in respect to
the Kalbara JV.
== == == == ==
+ See chapter 19 for defined terms.
30/9/2001 Appendix 5B Page 7
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