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

Release Date: 27/10/2017 08:00
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


                                                                                                              +Rule 5.5

                                               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                                                  30 September 2017



Consolidated statement of cash flows                               Current quarter              Year to date 3
                                                                     $USD’000                      months)
                                                                                                  $USD’000
1.      Cash flows from operating activities
1.1     Receipts from customers                                                   8,729                         8,729
1.2     Payments for
        (a) exploration & evaluation
        (b) development                                                                 -                              -
        (c) production                                                           (5,937)                      (5,937)
        (d) staff costs                                                            (940)                        (940)
        (e) administration and corporate costs                                   (3,447)                      (3,447)
1.3     Dividends received (see note 3)                                                 -                              -
1.4     Interest received                                                            104                             104
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                                      (1,491)                      (1,491)
        activities
Consolidated statement of cash flows                    Current quarter       Year to date 3
                                                          $USD’000               months)
                                                                                $USD’000
2.     Cash flows from investing activities
2.1    Payments to acquire:                                               -                    -
       (a) property, plant and equipment                            (158)                 (158)
       (b) tenements (see item 10)                                        -                    -
       (c) investments                                              (223)                 (223)
       (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                                       -                    -
2.3    Cash flows from loans to other entities                       220                   220
2.4    Dividends received (see note 3)                                    -                    -
2.5    Other (provide details if material)
2.6    Net cash from / (used in) investing                          (161)                 (161)
       activities



3.     Cash flows from financing activities
3.1    Proceeds from issues of shares                                     -                    -
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                                            -                    -
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                                -                    -
       activities



4.     Net increase / (decrease) in cash and
       cash equivalents for the period
4.1    Cash and cash equivalents at beginning of                    9,669                 9,669
       period
4.2    Net cash from / (used in) operating                        (1,491)               (1,491)
       activities (item 1.9 above)
4.3    Net cash from / (used in) investing activities               (161)                 (161)
       (item 2.6 above)
Consolidated statement of cash flows                    Current quarter          Year to date 3
                                                          $USD’000                  months)
                                                                                   $USD’000
4.4    Net cash from / (used in) financing activities                     -                         -
       (item 3.10 above)
4.5    Effect of movement in exchange rates on                      (241)                    (241)
       cash held
4.6    Cash and cash equivalents at end of                          7,776                    7,776
       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                                                7,744                    9,637
5.2    Call deposits                                                      32                       32
5.3    Bank overdrafts
5.4    Other (provide details)
5.5    Cash and cash equivalents at end of                          7,776                    9,669
       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                     244
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
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                                                  8,880                   8,880
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.
$USD8.9 million facility of the $USD 18 million provided by the Industrial Development Corporation
of South Africa to the company’s subsidiary is still available for drawdown. The loan is payable on
the third anniversary of each advance plus a real after tax rate of return of 16% on the advanced
amount




9.      Estimated cash outflows for next quarter                                 $USD’000
9.1     Exploration and evaluation
9.2     Development                                                                               (106)
9.3     Production                                                                              (6,942)
9.4     Staff costs                                                                             (1,017)
9.5     Administration and corporate costs                                                        (938)
9.6     Other                                                                                     (425)
9.7     Total estimated cash outflows                                                           (9,428)



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
        tenements and
        petroleum tenements
        acquired or increased
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.




Investec Bank Limited is the nominated JSE Sponsor
27 October 2017

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