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COAL OF AFRICA LIMITED - Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

Release Date: 28/04/2017 09:00
Code(s): CZA     PDF:  
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Appendix 5B Mining exploration entity and oil and gas 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 and oil and gas 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, 01/05/13, 01/09/16



Name of entity

Coal of Africa Limited

ABN                                                             Quarter ended (“current quarter”)

98 008 905 388                                                  31 March 2017



Consolidated statement of cash flows                               Current quarter              Year to date 9
                                                                     $USD’000                      months)
                                                                                                  $USD’000
1.      Cash flows from operating activities
1.1     Receipts from customers                                                       95                             286
1.2     Payments for
        (a) exploration & evaluation                                                    -                               -
        (b) development                                                                 -                               -
        (c) production                                                                  -                               -
        (d) staff costs                                                            (755)                      (2,500)
        (e) administration and corporate costs                                   (1,400)                      (6,311)
1.3     Dividends received (see note 3)                                                 -                               -
1.4     Interest received                                                             28                             107
1.5     Interest and other costs of finance paid                                        -                               -
1.6     Income taxes paid                                                               -                               -
1.7     Research and development refunds                                                -                               -
1.8     Other (provide details if material)                                             -                               -
1.9     Net cash from / (used in) operating                                      (2,032)                     (8, 418)
        activities




+ See chapter 19 for defined terms
1 September 2016                                                                                                     Page 1
Consolidated statement of cash flows                     Current quarter       Year to date 9
                                                           $USD’000               months)
                                                                                 $USD’000
2.      Cash flows from investing activities
2.1     Payments to acquire:
        (a) property, plant and equipment                                  -                    -
        (b) tenements (see item 10)                                        -                    -
        (c) investments                                              (343)                (1613)
        (d) other non-current assets                                       -                    -
2.2     Proceeds from the disposal of:
        (a) property, plant and equipment                                  -                    -
        (b) tenements (see item 10)                                        -                    -
        (c) investments                                                    -                    -
        (d) other non-current assets                                       -               1,101
2.3     Cash flows from loans to other entities                       118                    474
2.4     Dividends received (see note 3)                                    -                    -
2.5     Other (provide details if material)                                -                    -
2.6     Net cash from / (used in) investing                          (225)                  (38)
        activities



3.      Cash flows from financing activities
3.1     Proceeds from issues of shares                               2,060                 2,060
3.2     Proceeds from issue of convertible notes                           -                    -
3.3     Proceeds from exercise of share options                            -                    -
3.4     Transaction costs related to issues of                             -                    -
        shares, convertible notes or options
3.5     Proceeds from borrowings                                           -                    -
3.6     Repayment of borrowings                                    (2,372)               (8,904)
3.7     Transaction costs related to loans and                             -                    -
        borrowings
3.8     Dividends paid                                                     -                    -
3.9     Other (provide details if material)                                -                    -
3.10    Net cash from / (used in) financing                          (312)               (6,844)
        activities



4.      Net increase / (decrease) in cash and
        cash equivalents for the period
4.1     Cash and cash equivalents at beginning of
        period                                                       7,361               20,004
4.2     Net cash from / (used in) operating                        (2,032)               (8, 418)
        activities (item 1.9 above)
4.3     Net cash from / (used in) investing activities               (225)                  (38)
        (item 2.6 above)
+ See chapter 19 for defined terms
1 September 2016                                                                            Page 2
Consolidated statement of cash flows                     Current quarter         Year to date 9
                                                           $USD’000                 months)
                                                                                   $USD’000
4.4     Net cash from / (used in) financing activities               (312)                   (6,844)
        (item 3.10 above)
4.5     Effect of movement in exchange rates on                       311                       399
        cash held
4.6     Cash and cash equivalents at end of                          5,103                    5,103
        period



5.      Reconciliation of cash and cash                  Current quarter        Previous quarter
        equivalents                                        $USD’000                $USD’000
        at the end of the quarter (as shown in the
        consolidated statement of cash flows) to the
        related items in the accounts
5.1     Bank balances                                                5,051                    7,091
5.2     Call deposits                                                      52                   270
5.3     Bank overdrafts
5.4     Other (provide details)
5.5     Cash and cash equivalents at end of                          5,103                    7,361
        quarter (should equal item 4.6 above)



6.      Payments to directors of the entity and their associates                 Current quarter
                                                                                   $USD'000
6.1     Aggregate amount of payments to these parties included in item 1.2                      197
6.2     Aggregate amount of cash flow from loans to these parties included
        in item 2.3
6.3     Include below any explanation necessary to understand the transactions included in
        items 6.1 and 6.2
Salary payments for the quarter made to Non-Executive and Executive directors.




7.      Payments to related entities of the entity and their associates          Current quarter
                                                                                   $USD'000
7.1     Aggregate amount of payments to these parties included in item 1.2
7.2     Aggregate amount of cash flow from loans to these parties included
        in item 2.3
7.3     Include below any explanation necessary to understand the transactions included in
        items 7.1 and 7.2




+ See chapter 19 for defined terms
1 September 2016                                                                                Page 3
8.      Financing facilities available                    Total facility amount       Amount drawn at
        Add notes as necessary for an                        at quarter end             quarter end
        understanding of the position                           $USD’000                 $USD’000
8.1     Loan facilities                                                       208                      208
8.2     Credit standby arrangements
8.3     Other (please specify)
8.4     Include below a description of each facility above, including the lender, interest rate and
        whether it is secured or unsecured. If any additional facilities have been entered into or are
        proposed to be entered into after quarter end, include details of those facilities as well.
US9.8 million of the YBI loan has been converted to equity during the quarter.




9.      Estimated cash outflows for next quarter                                    $USD’000
9.1     Exploration and evaluation
9.2     Development                                                                                  (633)
9.3     Production
9.4     Staff costs                                                                                 (1,017)
9.5     Administration and corporate costs                                                           (902)
9.6     Other (Rio Tinto repayment included in this balance)                                        (8,530)
9.7     Total estimated cash outflows                                                            (11,082)



10.     Changes in                   Tenement     Nature of interest           Interest at     Interest
        tenements                    reference                                 beginning       at end of
        (items 2.1(b) and            and                                       of quarter      quarter
        2.2(b) above)                location
10.1    Interests in mining
        tenements and
        petroleum tenements
        lapsed, relinquished
        or reduced
10.2    Interests in mining          Holfontein   Mpumalanga –                 100%            0%
        tenements and                              Remaining extent,
        petroleum tenements                        Remaining Extent of
        acquired or increased                      portions 1, and 11 and
                                                   portions 4, 6, 9, 10, 12
                                                   and 13 of the farm
                                                   Holfontein 138 IS




+ See chapter 19 for defined terms
1 September 2016                                                                                       Page 4
Compliance statement

1         This statement has been prepared in accordance with accounting standards and policies which
          comply with Listing Rule 19.11A.
2         This statement gives a true and fair view of the matters disclosed.


Sign here:                ............................................................                  Date: .............................................
                               (Director/Company secretary)


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 that wishes to
          disclose additional information is encouraged to do so, in a note or notes included in or attached
          to this report.
2.        If this quarterly report has been prepared in accordance with Australian Accounting Standards,
          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. If this quarterly report
          has been prepared in accordance with other accounting standards agreed by ASX pursuant to
          Listing Rule 19.11A, the corresponding equivalent standards apply to this report.
3.        Dividends received may be classified either as cash flows from operating activities or cash flows
          from investing activities, depending on the accounting policy of the entity.




Sponsor: Investec Bank Limited
28 April 2017

AU: Coal of Africa Limited, Suite 8, 7 The Esplanade, Mount Pleasant, Perth WA 6153, Australia, Tel: +61 8 9316 9100, Fax: +61 8 9316 5475
ZA: South Block, Summercon Office Park, Cnr Rockery Lane and Sunset Avenue, Lonehill, 2191, Tel: +27 10 003 8000 Fax: +27 11 388 8333 Email:
adminza@coalofafrica.com




+ See chapter 19 for defined terms
1 September 2016                                                                                                                                      Page 5

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