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KORE POTASH PLC - Appendix 5B - Quarterly Cashflow Report

Release Date: 21/10/2019 11:15
Code(s): KP2     PDF:  
 
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Appendix 5B - Quarterly Cashflow Report

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”)
                                                                                                               +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

 KORE POTASH LIMITED

 ARBN                                                             Quarter ended (“current quarter”)

 621 843 614                                                      30 September 2019



 Consolidated statement of cash flows                    Current quarter                Year to date
                                                             $US’000                     (9 months)
                                                                                          $US’000
 1.      Cash flows from operating activities
 1.1     Receipts from customers                                           -                           -
 1.2     Payments for
         (a) exploration and evaluation                                 (623)                       (2,478)
         (b) development                                                   -                           -
         (c) production                                                    -                           -
         (d) staff costs                                              (1,431)                       (2,635)
         (e) administration and corporate costs                       (1,590)                       (2,935)
 1.3     Dividends received (see note 3)                                   -                           -
 1.4     Interest received                                                 8                           31
 1.5     Interest and other costs of finance paid                          -                           -
 1.6     Income taxes paid                                                 -                         (21)
 1.7     Research and development refunds                                  -                           -
 1.8     Other (provide details if material)                               -                           -
 1.9     Net cash from / (used in) operating
                                                                      (3,636)                       (8,038)
         activities
Consolidated statement of cash flows                    Current quarter        Year to date
                                                           $US’000             (9 months)
                                                                                $US’000
2.     Cash flows from investing activities
2.1    Payments to acquire:
       (a) property, plant and equipment                              (2)                     (19)
       (b) tenements (see item 10)                                        -                    -
       (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 (provide details if material)                                -                    -
2.6    Net cash from / (used in) investing
                                                                      (2)                     (19)
       activities



3.     Cash flows from financing activities
3.1    Proceeds from issues of shares                             12,759               12,761
3.2    Proceeds from issue of convertible notes                           -                    -
3.3    Proceeds from exercise of share options                            -                    -
3.4    Transaction costs related to issues of                        (13)                     (13)
       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
                                                                  12,746               12,748
       activities



4.     Net increase / (decrease) in cash and
       cash equivalents for the period
4.1    Cash and cash equivalents at beginning of
       period                                                      1,725                6,187
4.2    Net cash from / (used in) operating
                                                                  (3,636)               (8,038)
       activities (item 1.9 above)
4.3    Net cash from / (used in) investing activities
                                                                      (2)                     (19)
       (item 2.6 above)
Consolidated statement of cash flows                      Current quarter            Year to date
                                                             $US’000                 (9 months)
                                                                                      $US’000
4.4     Net cash from / (used in) financing activities
                                                                       12,746               12,748
        (item 3.10 above)
4.5     Effect of movement in exchange rates on
                                                                          (35)               (80)
        cash held
4.6     Cash and cash equivalents at end of
                                                                       10,798                  10,798
        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                                                  10,798                  1,725
5.2     Call deposits                                                          -                      -
5.3     Bank overdrafts                                                        -                      -
5.4     Other (provide details)                                                -                      -
5.5     Cash and cash equivalents at end of
                                                                           10,798               1,725
        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                          208
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
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                                                               2,213
9.2    Development                                                                                      -
9.3    Production                                                                                       -
9.4    Staff costs                                                                                  550
9.5    Administration and corporate costs                                                           572
9.6    Other (provide details if material)                                                              -
9.7    Total estimated cash outflows                                                            3,335



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:        ........(signed electronically) ...........................   Date: 21 October 2019
                       Joint Company Secretary


Print name:       Henko Vos


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.


21 October 2019
JSE Sponsor: Rencap Securities (Pty) Limited

Date: 21/10/2019 11:15:00
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