Wrap Text
Quarterly results for the three month period ending 30 June 2013.
Ferrum Crescent Limited
(Previously Washington Resources Limited)
(Incorporated and registered in Australia and registered as
an external company in the Republic of South Africa)
(Registration number A.C.N. 097 532 137)
(External company registration number 2011/116305/10)
Share code on the ASX: FCR
Share code on AIM: FCR
Share code on the JSE: FCR ISIN: AU000000WRL8
("Ferrum Crescent" or "the company" or "the group")
QUARTERLY ACTIVITIES AND CASHFLOW REPORT
FOR THE PERIOD ENDED 30 JUNE 2013
Ferrum Crescent Limited, the ASX, AIM and JSE quoted iron
ore developer in northern South Africa, today announces its
quarterly results for the three month period ending 30 June
2013.
HIGHLIGHTS:
Moonlight Iron Ore Project
- Ferrum Crescent in discussions with possible strategic
partners to progress Bankable Feasibility Study at
Moonlight Iron Ore Project, South Africa
- It is planned to complete the Company’s bankable
feasibility study as soon as possible in respect of the
production of 6 million tonnes per annum of direct reduced
grade iron pellets for export
Corporate:
- Cash as at 30 June 2013 is approximately AUD$550,000
Ferrum Crescent today announces that during the quarter it
progressed discussions with various potential strategic
partners with a view to completing the Company’s Bankable
Feasibility Study (“BFS”) in relation to the Moonlight Iron
Ore Project (the “Project”) in the Limpopo Province of
northern South Africa.
Ferrum Crescent holds the Moonlight Mining Right through
its subsidiary’s interest in Ferrum Iron Ore (Pty) Limited.
Commenting today Ed Nealon, Chairman, said: “Our
negotiations with strategic partners have progressed over
the last quarter for moving the Moonlight Iron Ore Project
into construction. The Moonlight Project is already in a
BFS with major engineering partners secured, to develop a
near surface mining operation and beneficiation plant, near
infrastructure, capable of producing a very high grade
pellet product.”
For more information, please visit www.ferrumcrescent.com
or contact:
Australia and Company enquiries:
Ferrum Crescent Limited
Ed Nealon T: +61 8 9380 9653
Executive Chairman
Bob Hair T: +61 414 926 302
Managing Director
UK enquiries:
Ocean Equities Limited (Broker)
Guy Wilkes T: +44 (0) 20 7786 4370
RFC Ambrian Limited (Nominated Adviser)
Sarah Wharry/Jen Boorer T: +44 (0) 20 3440 6800
Ferrum Crescent Limited
Laurence Read (UK representative)
T: +44 7557672432
South Africa enquiries:
Sasfin Capital
Leonard Eiser T: +27 11 809 7500
Rule 5.3
Appendix 5B
Mining exploration entity quarterly report
Appendix 5B
Mining exploration entity quarterly report
Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97,
01/07/98, 30/09/01, 01/06/10, 17/12/10
Name of entity
Ferrum Crescent Limited
ABN Quarter ended
(“current quarter”)
58 097 532 137 30 June 2013
Consolidated statement of cash flows
Current Year to date
Cash flows related to operating quarter (12 months)
activities $A’000
$A’000
1.1 Receipts from product
sales and related debtors
1.2 Payments for (a) (167) (717)
exploration & evaluation
(b) development
(c) production (327) (1,685)
(d)
administration
1.3 Dividends received
1.4 Interest and other items
of a similar nature 13 78
received
1.5 Interest and other costs
of finance paid
1.6 R&D recoupment tax - 202
1.7 Other – income from
restricted cash - 42
investments
Net Operating Cash Flows (481) (2,080)
Cash flows related to
investing activities
1.8 Payment for purchases of:
(a) prospects
(b) equity - (2)
investments
(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 - (780)
1.11 Loans repaid by other - -
entities
1.12 Other (restricted cash (201) (586)
investments)
Net investing cash flows (201) (1,368)
1.13 Total operating and
investing cash flows (682) (3,448)
(carried forward)
1.13 Total operating and
investing cash flows (682) (3,448)
(brought forward)
Cash flows related to
financing activities
1.14 Proceeds from issues of - 780
shares, options, etc.
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 – share issue costs - (9)
- 771
Net financing cash flows
Net increase (decrease) in (682) (2,677)
cash held
1.20 Cash at beginning of 1,210 3,352
quarter/year to date
1.21 Exchange rate adjustments 20 (127)
to item 1.20
1.22 548 548
Cash at end of quarter
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
1.2 Aggregate amount of payments to the 124
3 parties included in item 1.2
1.2 Aggregate amount of loans to the parties
4 included in item 1.10
1.2 Explanation necessary for an understanding of the
5 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 $A’000
$A’000
3.1 Loan facilities
3.2 Credit standby arrangements
$A’000
4.1 Exploration and evaluation 100
4.2 Development
4.3 Production
4.4 Administration 300
Total 400
Estimated cash outflows for next quarter
Reconciliation of cash
Reconciliation of cash at the end of Current Previous
the quarter (as shown in the quarter quarter
consolidated statement of cash flows) $A’000 $A’000
to the related items in the accounts
is as follows.
5.1 Cash on hand and at bank 548 1,210
5.2 Deposits at call
5.3 Bank overdraft
5.4 Other (provide details)
548 1,210
Total: cash at end of
quarter (item 1.22)
Changes in interests in mining tenements
Tenement Nature of Intere Inter
reference interest st at est
(note (2)) beginn at
ing of end
quarte of
r quart
er
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 Issue price Amount paid
quoted per up per
security security
(see note (see note
3) (cents) 3) (cents)
7.1 Preferen
ce
+securit
ies
(descrip
tion)
7.2 Changes
during
quarter
(a)
Increase
s
through
issues
(b)
Decrease
s
through
returns
of
capital,
buy-
backs,
redempti
ons
7.3 +Ordinar 328,201,385 321,606,385 Various Fully Paid
y
securiti
es
7.4 Changes
during
quarter
(a)
Increase
s
through
issues
(b)
Decrease
s
through
returns
of
capital,
buy-
backs
7.5 +Convert
ible
debt
securiti
es
(descrip
tion)
7.6 Changes
during
quarter
(a)
Increase
s
through
issues
(b)
Decrease
s
through
securiti
es
matured,
converte
d
7.7 Options Exercise Expiry date
(descrip 2,350,000 - price 07 December
tion and 21,496,727 21,496,727 $0.198 2013
conversi 400,000 - $0.400 31 December
on $0.100 2013
factor) 14 December
2015
7.8 Issued
during
quarter
7.9 Exercise
d during
quarter
7.10 Expired
during
quarter
7.11 Debentur
es
(totals
only)
7.12 Unsecure
d 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 5).
2 This statement does give a true and fair view of the
matters disclosed.
Sign here: ..................
Date: ............................
(Company Secretary)
Print name: Andrew Nealon
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 6:
Exploration for and Evaluation of Mineral Resources
and AASB 107: Statement of Cash Flows apply to this
report.
5 Accounting Standards ASX will accept, for example,
the use of International Financial Reporting
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.
30 July 2013
Johannesburg
Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)
Date: 30/07/2013 04:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
