KORE POTASH PLC - Appendix 5B - Cashflow Report for the Quarter Ended 31 December 2018

Release Date: 31/01/2019 11:01
Code(s): KP2
 
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Appendix 5B - Cashflow Report for the Quarter Ended 31 December 2018

Kore Potash plc
(Incorporated in England and Wales)
Registration number 10933682
ASX share code: KP2
AIM share code: KP2
JSE share code:KP2
ISIN: GB00BYP2QJ94
(“Kore Potash” or the “Company”)

              Appendix 5B - Cashflow Report for the Quarter Ended 31 December 2018

Kore Potash, the potash exploration and development company whose flagship asset is the Company's
97%-owned Sintoukola Potash Project ("Kola" or the "Project"), located within the Republic of Congo,
today released the following announcement on the Australian Securities Exchange ("ASX"), as required
under the listing rules of the ASX.



31 January 2019
JSE Sponsor: Rencap Securities (Pty) Limited
                                                    ENDS
             For further information, please visit www.korepotash.com or contact:


 Kore Potash                                                    Tel: +27 11 469 9140
 Brad Sampson – CEO

 Tavistock Communications                                       Tel: +44 (0) 20 7920 3150
 Jos Simson
 Edward Lee

 Canaccord Genuity – Nomad and Broker                           Tel: +44 (0) 20 7523 4600
 Martin Davison
 James Asensio

 Renaissance Capital – JSE Sponsor                              Tel: +27 (11) 750 1448
 Yvette Labuschagne
                                                                                          

                                                                                                               


                                                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

 KORE POTASH PLC

 ARBN                                                             Quarter ended (“current quarter”)

 621 843 614                                                      31 DECEMBER 2018



 Consolidated statement of cash flows                                Current quarter                Year to date
                                                                        $US’000                     (12 months)
                                                                                                      $US’000
 1.       Cash flows from operating activities
 1.1      Receipts from customers                                                        -                            -
 1.2      Payments for
          (a) exploration and evaluation                                           (3,431)                     (14,847)
          (b) development                                                                -                            -
          (c) production                                                                 -                            -
          (d) staff costs                                                            (655)                       (2,834)
          (e) administration and corporate costs                                   (1,286)                       (5,433)
 1.3      Dividends received (see note 3)                                                -                            -
 1.4      Interest received                                                             26                            69
 1.5      Interest and other costs of finance paid                                       -                             -
 1.6      Income taxes paid                                                            (42)                          (45)
 1.7      Research and development refunds                                                -                            -
 1.8      Other (provide details if material)                                             -                            -
 1.9      Net cash from / (used in) operating
                                                                                   (5,388)                     (23,090)
          activities



 2.        Cash flows from investing activities
 2.1       Payments to acquire:
           (a) property, plant and equipment                                            (3)                          (8)
           (b) tenements (see item 10)                                                   -                            -
           (c) investments                                                               -                            -

+ See chapter 19 for defined terms
1 September 2016                                                                                               Page 1
 Consolidated statement of cash flows                      Current quarter        Year to date
                                                              $US’000             (12 months)
                                                                                    $US’000
          (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 (provide details if material)                                -                      -
 2.6      Net cash from / (used in) investing
                                                                         (3)                        (8)
          activities



 3.       Cash flows from financing activities
 3.1      Proceeds from issues of shares                                     -                12,895
 3.2      Proceeds from issue of convertible notes                           -                   250
 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
                                                                             -                13,145
          activities



 4.       Net increase / (decrease) in cash and
          cash equivalents for the period
 4.1      Cash and cash equivalents at beginning of
          period                                                     11,667                   16,455
 4.2      Net cash from / (used in) operating
                                                                     (5,388)                 (23,090)
          activities (item 1.9 above)
 4.3      Net cash from / (used in) investing activities
                                                                         (3)                      (8)
          (item 2.6 above)
 4.4      Net cash from / (used in) financing activities
                                                                           -                   13,145
          (item 3.10 above)




+ See chapter 19 for defined terms.

Appendix 3B Page 2                                                                04/03/2013
                                                                                          Appendix 5B
                           Mining exploration entity and oil and gas exploration entity quarterly report


 Consolidated statement of cash flows                        Current quarter          Year to date
                                                                $US’000               (12 months)
                                                                                        $US’000
 4.5       Effect of movement in exchange rates on
                                                                           (89)                 (315)
           cash held
 4.6       Cash and cash equivalents at end of
                                                                         6,187                  6,187
           period



 5.        Reconciliation of cash and cash                   Current quarter         Previous quarter
           equivalents                                          $US’000                  $US’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                                                    6,187              11,667
 5.2       Call deposits                                                        -                   -
 5.3       Bank overdrafts                                                      -                   -
 5.4       Other (provide details)                                              -                   -
 5.5       Cash and cash equivalents at end of
                                                                            6,187              11,667
           quarter (should equal item 4.6 above)



 6.        Payments to directors of the entity and their associates                  Current quarter
                                                                                        $US'000
 6.1       Aggregate amount of payments to these parties included in item 1.2                        255
 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
 All transactions included in item 6.1 are for payment of directors fees.




 7.        Payments to related entities of the entity and their                      Current quarter
           associates                                                                   $US'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                          $US’000                $US’000
 8.1      Loan facilities                                                       -                            -
 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.




 9.       Estimated cash outflows for next quarter                                  $US’000
 9.1      Exploration and evaluation                                                                   1,981
 9.2      Development                                                                                        -
 9.3      Production                                                                                         -
 9.4      Staff costs                                                                                      764
 9.5      Administration and corporate costs                                                               940
 9.6      Other (provide details if material)                                                                -
 9.7      Total estimated cash outflows                                                                3,685



 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




+ See chapter 19 for defined terms.

Appendix 3B Page 4                                                                        04/03/2013
                                                                                          Appendix 5B
                           Mining exploration entity and oil and gas exploration entity quarterly report

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:              ........(signed electronically) ...........................   Date: 30 January 2019
                        Joint Company Secretary



Print name:             Henko Vos.




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




+ See chapter 19 for defined terms.

Appendix 3B Page 6                                                                      04/03/2013

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