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Appendix 5B Mining and gas exploration entity quarterly report
Tawana Resources NL
(Incorporated in Australia)
(Registration number ACN 085 166 721)
Share code on the JSE Limited: TAW
JSE ISIN: AU0000TAWDA9
Share code on the Australian Securities Exchange Limited: TAW
ASX ISIN: AU000000TAW7
(“the Company” or “Tawana”)
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
Tawana Resources NL
ABN Quarter ended (“current quarter”)
69 085 166 721 30 September 2018
Consolidated statement of cash flows Current quarter Year to date
(9 months)
$A’000 $A’000
1. Cash flows from operating activities
1.1 Receipts from customers 9,336 9,336
1.2 Payments for
(a) exploration & evaluation (120) (334)
(b) development 1 (222) (26,284)
(c) production (13,294) (13,294)
(d) staff costs (984) (3,072)
(e) administration and corporate costs (511) (1,608)
1.3 Dividends received (see note 3) - -
1.4 Interest received 60 144
1.5 Interest and other costs of finance paid (124) (270)
1.6 Income taxes paid - -
Consolidated statement of cash flows Current quarter Year to date
(9 months)
$A’000 $A’000
1.7 Other – Merger and demerger costs (566) (998)
1.8 Net cash from / (used in) operating (6,425) (36,380)
activities
Note 1: Cash receipts from customers of $4,309,465 received during the first 6 months
of the year have been offset against associated development cash outflows during the
same period preceding commercial production.
2. Cash flows from investing activities
2.1 Payments to acquire:
(a) property, plant and equipment (37) (73)
(b) tenements (see item 10) - (97)
(c) investments - -
(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
2.4 Dividends received (see note 3) - -
2.5 Other – Contributions received from 1,594 1,991
Joint
Operation Partner not (750) (750)
expended
– Cash disposed as part of
Cowan Lithium demerger
2.6 Net cash from / (used in) investing 807 1,071
activities
Consolidated statement of cash flows Current quarter Year to date
(9 months)
$A’000 $A’000
3. Cash flows from financing activities
3.1 Proceeds from issues of shares 4,878 24,878
3.2 Proceeds from issue of convertible - -
notes
3.3 Proceeds from exercise of share 710 2,095
options
3.4 Transaction costs related to issues of (161) (1,384)
shares, convertible notes or options
3.5 Proceeds from borrowings - 5,000
3.6 Repayment of borrowings - -
3.7 Transaction costs related to loans - (200)
and borrowings
3.8 Dividends paid - -
3.9 Other - -
3.10 Net cash from / (used in) financing 5,427 30,389
activities
4. Net increase / (decrease) in cash and
cash equivalents for the period
4.1 Cash and cash equivalents at 11,614 16,375
beginning of period
4.2 Net cash from / (used in) operating (6,425) (36,380)
activities (item 1.9 above)
4.3 Net cash from / (used in) investing 807 1,071
activities (item 2.6 above)
4.4 Net cash from / (used in) financing 5,427 30,389
activities (item 3.10 above)
4.5 Effect of movement in exchange rates (19) (51)
on cash held
4.6 Cash and cash equivalents at end 11,404 11,404
of period
5. Reconciliation of cash and cash Current quarter Previous quarter
equivalents $A’000 $A’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 11,404 11,614
5.2 Call deposits - -
5.3 Bank overdrafts - -
5.4 Other (provide details) - -
5.5 Cash and cash equivalents at end of 11,404 11,614
quarter (should equal item 4.6
above)
6. Payments to directors of the entity and their associates Current quarter
$A'000
6.1 Aggregate amount of payments to these parties included 160
in item 1.2
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
Directors’ salaries, directors’ fees and superannuation
7. Payments to related entities of the entity and their Current quarter
associates $A'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
N/A
8. Financing facilities available Total facility Amount drawn
Add notes as necessary for an amount at at quarter end
understanding of the position quarter end $A’000
$A’000
8.1 Loan facilities 5,000 5,000
8.2 Credit standby arrangements - -
8.3 Other (please specify) 10,199 10,199
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.
8.1 In March 2018, the Company drew down in full on a $5m secured loan facility with
Red Coast Investment Limited, an investment company nominated by Weier Antriebe
und Energietechnik Gmbh. The loan agreement formed part of a $25m funding package
to support works at the Bald Hill Project. Interest is payable quarterly in arrears at a
rate of between 11% and 13% with a maturity and single repayment date of 30 June
2020.
8.3 In April 2017, the Company signed a prepayment agreement with a 100% owned
subsidiary of Burwill Holdings Ltd (Burwill), a company listed on the main Board of The
Stock Exchange of Hong Kong Limited (stock code 0024). No interest is payable in
respect of the prepayment and it is unsecured. Tawana shall repay the outstanding
prepayment through 15% of the value of each shipment of lithium concentrate until
such time as Burwill has been reimbursed in full for the aggregate amount of the
prepayment.
9. Estimated cash outflows for next quarter $A’000
9.1 Exploration and evaluation (75)
9.2 Development (2,876)
9.3 Production (24,680)
9.4 Staff costs (1,111)
9.5 Administration and corporate costs (550)
9.6 Other (Capital/debt raising costs, merger (2,000)
costs)
9.7 Total estimated cash outflows (31,292)
10. Changes in Tenement Nature of Interest Interest
tenements reference and interest at at end of
(items 2.1(b) and location beginnin quarter
2.2(b) above) g of
quarter
10.1 Interests in mining Western Beneficial 50% 0%
tenements and Australia, Interest
petroleum P15/5465
tenements lapsed, P15/5466
relinquished or
reduced P15/5467 Beneficial 100% 0%
Western Interest
Australia,
E28/2702
E15/1526
E15/1503
E15/1502
E15/1446
E15/1377
E15/1205
10.2 Interests in mining Nil
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: Company Secretary Date 31 October 2018
Print name: Joanna Kiernan
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.
31 October 2018
Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 31/10/2018 09:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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