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FIRESTONE ENERGY LIMITED - Appendix 5B Mining Exploration Quarterly Report

Release Date: 31/10/2013 10:00
Code(s): FSE FSEO1     PDF:  
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Appendix 5B Mining Exploration Quarterly Report

                                                                                               

                                                                                                                           
  FIRESTONE ENERGY LIMITED
  (Incorporated in Australia)
  (Registration number ABN 058 436 794)
  Share code on the JSE Limited: FSE Share code on the ASX: FSE
  ISIN: AU000000FSE6
  (SA company registration number 2008/023973/10)
  ("FSE" or "the Company")




                                                  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

                                           Firestone Energy Limited

  ABN                                                                                   Quarter ended (“current quarter”)
                  71 058 436 794                                                                30 September 2013


  Consolidated statement of cash flows
                                                                                   Current quarter             Year to date
Cash flows related to operating activities
                                                                                       $A’000                    $A’000
1.1       Receipts from product sales and related debtors

1.2       Payments for (a) exploration & evaluation                                               (30)                          (30)
                         (b) development                                                         (356)                         (356)
                         (c) production                                                              -                             -
                         (d) administration                                                      (264)                         (264)
1.3       Dividends received                                                                         -                             -
1.4       Interest and other items of a similar nature
          received                                                                                   2                             2
1.5       Interest and other costs of finance paid                                                   -                             -
1.6       Income taxes paid                                                                          -                             -
1.7       Other (GST receipts)                                                                      66                            66

          Net Operating Cash Flows                                                               (582)                         (582)

          Cash flows related to investing activities
1.8       Payment for purchases of: (a) prospects                                                     -                                -
                                   (b) equity investments                                             -                                -
                                   (c) properties                                                     -                                -
1.9       Proceeds from sale of:    (a) prospects                                                     -                                -
                                   (b) equity investments                                             -                                -
                                   (c) other fixed assets                                             -                                -


  + See chapter 19 for defined terms.

  30/9/2001                                                                                                   Appendix 5B Page 1
  Appendix 5B
  Mining exploration entity quarterly report


1.10    Loans to other entities                                 -        -
1.11    Loans repaid by other entities                          -        -
1.12    Other (provide details if material)                     -        -
                                                                -        -
        Net investing cash flows
1.13    Total operating and investing cash flows (carried   (582)    (582)
        forward)




  + See chapter 19 for defined terms.

  Appendix 5B Page 2                                                30/9/2001
                                                                                  Appendix 5B
                                                     Mining exploration entity quarterly report



  1.13      Total operating and investing cash flows (brought                       (582)                     (582)
            forward)

            Cash flows related to financing activities
  1.14      Proceeds from issues of shares, options, Convertible                        -                        -
            Notes etc.
  1.15      Proceeds from sale of forfeited shares                                     -                         -
  1.16      Proceeds from borrowings                                                 356                       356
  1.17      Repayment of borrowings                                                    -                         -
  1.18      Capital raising costs                                                      -                         -
  1.19      Other – Interest paid                                                      -                         -
                                                                                     356                       356
            Net financing cash flows

            Net increase (decrease) in cash held                                    (226)                     (226)

  1.20      Cash at beginning of quarter/year to date                                 398                      398
  1.21      Exchange rate adjustments to item 1.20 Gain / (Loss)                        5                        5
                                                                                      177                      177
  1.22      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

1.23       Aggregate amount of payments to the parties included in item 1.2                              75


1.24       Aggregate amount of loans to the parties included in item 1.10                                 -


1.25       Explanation necessary for an understanding of the transactions

           Payments to wholly owned subsidiary, Lexshell Pty Limited, of which amounts are paid to third
           parties to make payments on behalf of Firestone Energy pursuant to its JV agreement with Sekoko
           Resources - $75,000




  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




  + 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
                                                                    $A’000                     $A’000
3.1     Loan facilities                                                      3,000^                        356
                                                                                                             -

3.2     Credit standby arrangements                                                    -                       -

  ^ The Company has in place a project financing loan facility with its major shareholder The Waterberg Coal
  Company Limited.



  Estimated cash outflows for next quarter
                                                                                           $A’000
4.1     Exploration and evaluation                                                                      50

4.2     Development                                                                                      -

4.3     Production                                                                                       -

4.4     Administration                                                                                150

                                                                                                      200
        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)                 $A’000                     $A’000
  to the related items in the accounts is as follows.
  5.1    Cash on hand and at bank                                             177                          146
                                                                                   -                       252
  5.2    Deposits at call
                                                                                   -                           -
  5.3    Bank overdraft
                                                                                   -                           -
  5.4    Other (provide details)
                                                                              177                          398
         Total: cash at end of quarter (item 1.22)




  Changes in interests in mining tenements

  + See chapter 19 for defined terms.

  Appendix 5B Page 4                                                                                  30/9/2001
                                                                                   Appendix 5B
                                                      Mining exploration entity quarterly report



                                      Tenement       Nature of interest                Interest at    Interest at
                                      reference      (note (2))                        beginning      end of
                                                                                       of quarter     quarter
6.1    Interests in mining                           Nil
       tenements relinquished,
       reduced or lapsed

6.2    Interests in mining                           Nil
       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
                                                                                       security (see            up per security
                                                                                       note 3) (cents)          (see note 3)
                                                                                                                (cents)

7.1    Preference                                       Nil                      Nil
       +securities

       (description)
7.2    Changes                                          Nil                      Nil
       during
       quarter
       (a) Increases
       through
       issues
       (b) Decreases
       through
       returns of
       capital, buy-
       backs,
       redemptions


7.3    +Ordinary

       securities                         3,549,698,723            3,549,698,723                                Fully paid
       FSE




+ See chapter 19 for defined terms.

30/9/2001                                                                                   Appendix 5B Page 5
Appendix 5B
Mining exploration entity quarterly report


7.4    Changes
       during
       quarter
       (a) Increases
       through
       issues
       (b) Decreases
       through
       returns of
       capital, buy-
       backs




7.5    +Convertible      Unlisted Convertible          Conversion           Repayment dates
       debt              Notes                         number into shares
       securities
       (description)

       Ariona
       Company SA        Con Note 2 – $5million             200,000,000      30 January 2017

       BBY
       Nominees Pty
       Ltd               Con Note 3 – $22.145million        885,800,000      30 January 2017




7.6    Changes
       during
       quarter
       (a) Increases
       through
       issues
       (b) Decreases
       through
       securities
       matured,
       converted

7.7    Options                                                               Exercise price      Expiry date


       FSEAI                              25,875,000                  Nil         6.0 Cents      30 Jun 2014
       FSEO                               48,395,000          48,395,000          4.0 Cents     31 May 2014
       FSEAA                              40,000,000                  Nil         2.5 Cents     19 Sept 2014
                                         300,000,000                  Nil         2.5 Cents      31 Jan 2015
7.8    Issued during
       quarter

7.9    Exercised
       during
       quarter



+ See chapter 19 for defined terms.

Appendix 5B Page 6                                                                         30/9/2001
                                                                           Appendix 5B
                                              Mining exploration entity quarterly report


7.10   Expired
       during
       quarter


7.11   Debentures
       (totals only)
7.12   Unsecured
       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: Stephen Miller                   Date: 31 October 2013……..
           (Executive Director)




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.




+ See chapter 19 for defined terms.

30/9/2001                                                                     Appendix 5B Page 7
Appendix 5B
Mining exploration entity quarterly 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.

Johannesburg
31 October 2013

Sponsor
River Group




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