RNS Number : 1317H
Zambezi Resources Ltd
31 October 2008
31 October 2008
Zambezi Resources Limited
Quarterly Cash flow report
for the period endED 30 SEPTEMBER 2008
Zambezi Resources Limited (AIM:ZRL; ASX:ZRL) sets out below its quarterly cash flow report.
For more information contact:
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Julian Ford, Managing Director
Zambezi Resources (Australia)
+61 (08) 9216 9000
+61 (0) 418 949 580
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Fiona Owen
Grant Thornton UK LLP
+44 20 7383 5100
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Simon Edwards / Adam Lloyd
Evolution Securities Ltd
+ 44 20 7071 4300
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Appendix 5B
Mining exploration entity quarterly report
Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.
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Name of entity
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ZAMBEZI RESOURCES LIMITED
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ARBN
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Quarter ended ('current quarter')
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124 462 826
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30 SEPTEMBER 2008
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Consolidated statement of cash flows
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Cash flows related to operating activities
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Current quarter
GBP '000
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Year to date
(6 months)
GBP '000
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1.1
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Receipts from product sales and related debtors
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-
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1
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1.2
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Payments for (a) exploration and evaluation
(b) development
(c) production
(d) administration
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(2,315)
(471)
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(5,250)
(1,524)
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1.3
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Dividends received
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1.4
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Interest and other items of a similar nature received
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6
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50
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1.5
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Interest and other costs of finance paid
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1.6
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Income taxes paid
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(2)
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(18)
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1.7
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Other - Joint Venture Partner contributions
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866
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2,724
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Net Operating Cash Flows
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(1,916)
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(4,017)
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Cash flows related to investing activities
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1.8
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Payment for purchases of: (a)prospects
(b)equity investments
(c) other fixed assets
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(46)
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(112)
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1.9
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Proceeds from sale of: (a)prospects
(b)equity investments
(c)other fixed assets
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9
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9
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1.10
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Loans to other entities
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1.11
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Loans repaid by other entities
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1.12
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Other (provide details if material)
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Net investing cash flows
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(37)
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(103)
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1.13
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Total operating and investing cash flows (carried forward)
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(1,953)
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(4,120)
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1.13
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Total operating and investing cash flows (brought forward)
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(1,953)
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(4,120)
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Cash flows related to financing activities
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1.14
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Proceeds from issues of shares, options, etc.
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560
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560
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1.15
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Proceeds from sale of forfeited shares
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1.16
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Proceeds from borrowings
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1.17
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Repayment of borrowings
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(8)
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(9)
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1.18
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Dividends paid
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1.19
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Other - Costs of capital raising
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(7)
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(7)
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Net financing cash flows
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545
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544
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Net increase (decrease) in cash held
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(1,408)
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(3,576)
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1.20
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Cash at beginning of quarter/year to date
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2,249
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4,411
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1.21
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Exchange rate adjustments to item 1.20
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40
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46
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1.22
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Cash at end of quarter
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881
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881
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Payments to directors of the entity and associates of the directors
Payments to related entities of the entity and associates of the related entities
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Current quarter
GBP '000
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1.23
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Aggregate amount of payments to the parties included in item 1.2
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125
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1.24
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Aggregate amount of loans to the parties included in item 1.10
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1.25
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Explanation necessary for an understanding of the transactions
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Directors' fees & salaries for the quarter.
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Non-cash financing and investing activities
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2.1
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Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows
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2.2
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Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest
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Financing facilities available
Add notes as necessary for an understanding of the position.
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Amount available
GBP '000
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Amount used
GBP '000
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3.1
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Loan facilities
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3.2
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Credit standby arrangements
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Estimated cash outflows for next quarter
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GBP '000
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4.1
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Exploration and evaluation
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100
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4.2
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Development
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Total
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100
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Reconciliation of cash
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Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.
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Current quarter
GBP '000
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Previous quarter
GBP '000
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5.1
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Cash on hand and at bank
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881
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888
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5.2
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Deposits at call
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-
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1,361
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5.3
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Bank overdraft
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5.4
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Other (provide details)
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Total: cash at end of quarter (item 1.22)
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881
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2,249
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Changes in interests in mining tenements
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Tenement reference
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Nature of interest
(note (2))
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Interest at beginning of quarter
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Interest at end of quarter
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6.1
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Interests in mining tenements relinquished, reduced or lapsed
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6.2
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Interests in mining tenements acquired or increased
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Issued and quoted securities at end of current quarter
Description includes rate of interest and any redemption or conversion rights together with prices and dates.
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Total number
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Number quoted
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Issue price per security (see note 3) (GBP)
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Amount paid up per security (see note 3) (GBP)
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7.1
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Preference +securities (description)
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7.2
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Changes during quarter
(a) Increases through issues
(b) Decreases through returns of capital, buy-backs, redemptions
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7.3
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+Ordinary securities
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197,876,174
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197,876,174
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7.4
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Changes during quarter
(a) Increases through issues
(b) Decreases through returns of capital, buy-backs
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9,690,895
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9,690,895
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0.06 GBP
(0.124 AUD)
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7.5
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+Convertible debt securities (description)
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7.6
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Changes during quarter
(a) Increases through issues
(b) Decreases through securities matured, converted
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7.7
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Options (description and conversion factor)
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2,190,000
4,390,000
1,000,000
140,000
500,000
2,080,000
1,850,000
1,000,000
3,230,214
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3,230,214
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Exercise price (GBP)
0.12
0.14
0.16
0.175
0.20
0.20
0.13
0.20
0.19 AUD
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Expiry date
26 July 2009
9 June 2009
22 June 2010
10 June 2010
23 December 2009
31 August 2011
31 March 2011
31 August 2011
31 August 2009
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7.8
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Issued during quarter
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1,000,000
3,230,214
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3,230,214
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0.20
0.19 AUD
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31 August 2011
31 August 2009
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7.9
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Exercised during quarter
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7.10
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Expired during quarter
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100,000
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0.165
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22 August 2008
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7.11
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Debentures
(totals only)
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7.12
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Unsecured notes (totals only)
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Compliance statement
1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4).
2 This statement does /does not* (delete one) give a true and fair view of the matters disclosed.
Sign here: Chief Financial Officer Date: 31 October 2008
Print name: Lloyd Flint
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 wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
2 The 'Nature of interest' (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.
3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities.
4 The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.
5 Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.
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