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Mining exploration entity quarterly report for the period ended 31 December 2013
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
98 008 905 388
Quarter ended ("current quarter")
31 December 2013
Consolidated statement of cash flows
Year to date
Cash flows related to operating activities Current quarter (6 months)
US$'000 US$'000
1.1 Receipts from product sales and related debtors
1,973 22,715
1.2 Payments for (a) exploration & evaluation (1,753) (3,873)
(b) development (5,300) (10,281)
(c) production (3,883) (19,691)
(d) logistics (2,397) (3,821)
(e) administration (3,957) (8,740)
1.3 Dividends received - -
1.4 Interest and other items of a similar nature
506 909
received
1.5 Interest and other costs of finance paid (189) (274)
1.6 Income taxes paid - -
1.7 Other (provide details if material) 368 368
Net Operating Cash Flows (14,632) (22,688)
Cash flows related to investing activities
1.8 Payment for purchases of: (a) prospects - -
(b) equity investments - -
(c) other fixed assets - -
1.9 Proceeds from sale of: (a) prospects 476 476
(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) - 1,372
Net investing cash flows 476 1,848
1.13 Total operating and investing cash flows (carried
forward) (14,156) (20,840)
1.13 Total operating and investing cash flows (brought
forward) (14,156) (20,840)
Cash flows related to financing activities
1.14 Proceeds from issues of shares, options, etc. - -
1.15 Proceeds from pending issues of shares* - -
1.16 Proceeds from sale of forfeited shares - -
1.17 Proceeds from borrowings 10,000 10,000
1.18 Repayment of borrowings (1,109) (14,258)
1.19 Dividends paid - -
1.20 Other (provide details if material) - -
Net financing cash flows 8,891 (4,258)
Net increase (decrease) in cash held (5,265) (25,098)
1.21 Cash at beginning of quarter/year to date 9,560 28,922
1.22 Exchange rate adjustments (134) 337
1.23 Cash at end of quarter 4,161 4,161
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$'000
1.23 Aggregate amount of payments to the parties included in item 1.2 355
1.24 Aggregate amount of loans to the parties included in item 1.10 -
1.25 Explanation necessary for an understanding of the transactions
The balance in 1.23 includes all salaries and fees paid to directors.
Non-cash financing and investing activities
2.1 Details of financing and investing transactions which have had a material effect on consolidated
assets and liabilities but did not involve cash flows
2.2 Details of outlays made by other entities to establish or increase their share in projects in which
the reporting entity has an interest
Financing facilities available
Add notes as necessary for an understanding of the position.
Amount available Amount used
US$'000 US$'000
3.1 Loan facilities - -
3.2 Credit standby arrangements - -
Estimated cash outflows for next quarter (Note 7)
US$'000
4.1 Exploration and evaluation (987)
4.2 Development (1,096)
4.3 Production (434)
4.4 Logistics (731)
4.5 Administration (2,335)
Total (5,583)
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 3,624 6,213
5.2 Deposits at call 537 3,347
5.3 Bank overdraft - -
5.4 Other (provide details) - -
Total: cash at end of quarter (item 1.22) 4,161 9,560
Changes in interests in mining tenements
Tenement reference Nature of interest Interest at Interest
(note (2)) beginning at end of
of quarter quarter
6.1 Interests in Portions 1, 9, 14, 17, Ferret Mining & 100% 74%
mining 18, 19, 20 & Environmental Services
tenements Remaining Extent of (Pty) Ltd were reinstated
relinquished, Mooiplaats 290 IT as shareholders in
reduced or Portion 2, 3 and
Mooiplaats Mining
lapsed Remaining Extent of
Klipbank 295 IT
Limited as part of the
Portions 1, 2 and litigation settlement
Remaining Extent of
Adrianople296 IT
Portions 2 & 3 of
Willemsdal 330 IT
Portions 2, 3, 4 &
Remaining Extent)
of De Emigratie 327
IT
Remaining Extent
and Portions 2, 5,
8,10 & 13 of
Buhrmansvallei 297
IT
Klipfontein 442 IT
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 1,048,638,613 1,048,638,613
securities
7.4 Changes during
quarter
(a) Increases Nil Nil
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 21,987,490 Nil Exercise price Expiry date
(description and See Note 6 See Note 6
conversion factor)
7.8 Issued during 8,057,928 Nil See Note 6 See Note 6
quarter
7.9 Exercised during Nil Nil See Note 6 See Note 6
quarter
7.10 Cancelled during Nil Nil
quarter
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.
Sign here: ............................................................ Date: ...31 January 2014......................
(Company secretary)
TONY BEVAN
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 31 December 2013:
Number Issued Number Exercise Expiry Date Lapsed Since End
Quoted Price of quarter
818,500 - A$1.90 30 June 2014 -
3,000,000 - 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 -
3,500,000 - GBP0.25 30 November 2015 -
3,932,928 - ZAR1.75 30 June 2017 -
4,125,000 - ZAR2.00 30 June 2018 -
*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 Estimated Cash Outflows for the Quarter:
As discussed in the Quarterly Activities Statement the estimated March 2014
quarter cash outflows should be seen in the context that proceeds of $9.6 million
from the sale of non-core assets are expected in the near term.
Date: 31/01/2014 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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