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Mining Exploration Entity and Oil and Gas Exploration Entity Quarterly Report
RENERGEN LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2014/195093/06)
JSE Share code: REN
ISIN: ZAE000202610
Australian Business Number (ABN): 93 998 352 675
ASX Share code: RLT
(“Renergen” or “the Company”)
MINING EXPLORATION ENTITY AND OIL AND GAS
EXPLORATION ENTITY QUARTERLY REPORT
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
RENERGEN LIMITED
ABN Quarter ended (“current quarter”)
93998352675 31 August 2019
Consolidated statement of cash flows Current quarter Year to date (6
ZAR’000 months)
ZAR’000
1. Cash flows from operating activities
1.1 Receipts from customers 536 1 152
1.2 Payments for
(a) exploration & evaluation (81) (1 235)
(b) development - -
(c) production (911) (1 888)
(d) staff costs (7 146) (12 999)
(e) administration and corporate costs (1 013) (2 161)
1.3 Dividends received (see note 3) - -
1.4 Interest received 1 120 2 593
1.5 Interest and other costs of finance paid (21) (166)
1.6 Income taxes paid - -
Consolidated statement of cash flows Current quarter Year to date (6
ZAR’000 months)
ZAR’000
1.7 Research and development refunds - -
1.8 Other (provide details if material) (3 531) (21 247)
- Capital raising costs
1.9 Net cash from / (used in) operating (11 047) (35 951)
activities
2. Cash flows from investing activities
2.1 Payments to acquire:
(a) property, plant and equipment (8 553) (10 884)
(b) tenements (see item 10) - -
(c) investments - -
(d) other non-current assets (1 514) (4 701)
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 (provide details if material) (9 256) (9 256)
- Purchase of options R9.2
million
2.6 Net cash from / (used in) investing (19 323) (24 841)
activities
3. Cash flows from financing activities
3.1 Proceeds from issues of shares 102 984 102 984
3.2 Proceeds from issue of convertible - -
notes
3.3 Proceeds from exercise of share - -
options
3.4 Transaction costs related to issues of (6 490) (6 490)
shares, convertible notes or options
3.5 Proceeds from borrowings - -
3.6 Repayment of borrowings - -
Consolidated statement of cash flows Current quarter Year to date (6
ZAR’000 months)
ZAR’000
3.7 Transaction costs related to loans and - -
borrowings
3.8 Dividends paid - -
3.9 Other (provide details if material) (310) (618)
3.10 Net cash from / (used in) financing 96 184 95 876
activities
4. Net increase / (decrease) in cash and
cash equivalents for the period
4.1 Cash and cash equivalents at
beginning of period 71 216 97 956
4.2 Net cash from / (used in) operating (11 047) (35 951)
activities (item 1.9 above)
4.3 Net cash from / (used in) investing (19 323) (24 841)
activities (item 2.6 above)
4.4 Net cash from / (used in) financing 96 184 95 876
activities (item 3.10 above)
4.5 Effect of movement in exchange rates (3 571) (3 581)
on cash held
4.6 Cash and cash equivalents at end of 133 459 129 459
period
5. Reconciliation of cash and cash Current quarter Previous quarter
equivalents ZAR’000 ZAR’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 461 5 300
5.2 Call deposits 132 998 65 916
5.3 Bank overdrafts - -
5.4 Other (provide details) - -
5.5 Cash and cash equivalents at end of 133 459 71 216
quarter (should equal item 4.6
above)
6. Payments to directors of the entity and their associates Current quarter
ZAR'000
6.1 Aggregate amount of payments to these parties included in 2 615
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
Salary payments made to executive directors in the last three months. Non-executive
directors are paid bi- annually.
7. Payments to related entities of the entity and their Current quarter
associates ZAR'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 drawn at
Add notes as necessary for an amount at quarter quarter end
understanding of the position end ZAR’000
ZAR’000
8.1 Loan facilities - -
8.2 Credit standby arrangements 4 000 -
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.
R4 million bank guarantee with Lombard insurance for the environmental rehabilitation and
restoration provision. The bank guarantee is unsecured.
Signed a loan agreement for US$40 million (R600 million) with the Overseas Private
Investment Corporation (OPIC) after August 2019. First disbursement expected in the
beginning of October 2019.
9. Estimated cash outflows for next quarter ZAR’000
9.1 Exploration and evaluation (14 623)
9.2 Development -
9.3 Production (816)
9.4 Staff costs (6 072)
9.5 Administration and corporate costs (282)
9.6 Other (provide details if material) (17 385)
- Settlement of convertible note R5million
- Costs associated with the construction of
the new plant R12 million
9.7 Total estimated cash outflows (39 178)
10. Changes in Tenement reference Nature of Interest at Interest at end
tenements and location interest beginning of quarter
(items 2.1(b) of quarter
and 2.2(b)
above)
10.1 Interests in N/A N/A N/A N/A
mining
tenements and
petroleum
tenements
lapsed,
relinquished or
reduced
10.2 Interests in N/A N/A N/A N/A
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.
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.
Johannesburg
27 September 2019
Designated Adviser
PSG Capital
Date: 27/09/2019 04:03:00
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