Friday 30 October, 2009
Centamin Egypt Ltd
Appendix 5B
RNS Number : 6549B Centamin Egypt Limited 30 October 2009
Rule 5.3
Appendix 5B
Mining exploration entity quarterly report
Introduced 1/7/96. Origin : Appendix 8. Amended 1/7/98, 30/9/2001.
Name of Entity
ABN Quarter ended ("current quarter")
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86 007 700 352
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30 September 2009
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Consolidated statement of cash flows
Centamin Egypt Limited
Pharaoh Gold Mines NL (100%)
Viking Resources Ltd (100%)
North African Resources (100%)
Centamin Limited (100%)
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Cash flows related to operating activities
|
Current Quarter
$US'000
|
Year to date
(3 months)
$US'000
|
|
1.1 Receipts from product sales and related debtors
|
-
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-
|
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1.2 Payments for (a) exploration and evaluation
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(2,894)
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(2,894)
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(b) development
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(38,665)
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(38,665)
|
|
(c) production
|
-
|
-
|
|
(d) administration
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(1,094)
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(1,094)
|
|
1.3 Dividends received
|
-
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-
|
|
1.4 Interest and other items of a similar nature received
|
302
|
302
|
|
1.5 Interest and other costs of finance paid
|
-
|
-
|
|
1.6 Income taxes paid
|
-
|
-
|
|
1.7 Other (provide details if material)
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-
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-
|
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Net Operating Cash Flows
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(42,351)
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(42,351)
|
|
|
|
|
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Cash flows related to investing activities
|
|
|
|
|
|
|
|
1.8 Payment for purchases of (a) prospects
|
-
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-
|
|
(b) equity investments
|
-
|
-
|
|
(c) other fixed assets
|
-
|
-
|
|
1.9 Proceeds from sale of (a) prospects
|
-
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-
|
|
(b) equity investments
|
-
|
-
|
|
(c) other fixed assets
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-
|
-
|
|
1.10 Loans to other entities
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-
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-
|
|
1.11 Loans repaid by other entities
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-
|
-
|
|
1.12 Other (provide details if material)
|
-
|
-
|
|
Net investing cash flows
|
-
|
-
|
|
1.13 Total operating and investing cash flows (carried forward)
|
(42,351)
|
(42,351)
|
|
1.13 Total operating and investment cash flows (brought forward)
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(42,351)
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(42,351)
|
|
|
|
|
|
Cash flows related to financing activities
|
|
|
|
|
|
|
|
1.14 Proceeds from issues of shares, options, etc.
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30,897
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30,897
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|
1.15 Proceeds from sale of forfeited shares
|
|
|
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1.16 Proceeds from borrowings
|
|
|
|
1.17 Repayment of borrowings
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|
|
|
1.18 Dividends paid
|
|
|
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1.19 Other (bank and realised foreign exchange charges)
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(1,228)
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(1,228)
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Net financing cash flows
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29,669
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29,669
|
|
|
|
|
|
Net increase (decrease) in cash held
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(12,682)
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(12,682)
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|
|
|
|
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1.20 Cash at beginning of quarter/year to date
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68,609
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68,609
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1.21 Exchange rate adjustments to item 1.20
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3,114
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3,114
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1.22 Cash at end of quarter
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59,041
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59,041
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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
$US'000
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|
|
|
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1.23 Aggregate amount of payments to the parties included in item 1.2
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289
|
|
|
|
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1.24 Aggregate amount of loans to the parties included in item 1.10
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-
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1.25 Explanation necessary for an understanding of the transactions
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-
Salaries, superannuation contributions, consulting and Directors fees paid to Directors during the three months ended 30 September 2009 amounted to A$294,249 (30 September 2008: A$340,256).
-
Mr S El-Raghy and Mr J El-Raghy are Directors and shareholders of El-Raghy Kriewaldt Pty Ltd ("ELK"), which provides office premises to the Company in Australia. All dealings with ELK are in the ordinary course of business and on normal terms and conditions. Rent paid to ELK during the three months ended 30 September 2009 amounted to A$16,377 (30 September 2008: A$15,601).
-
Mr S El-Raghy provides office premises to the Company in Alexandria, Egypt. All dealings are in the ordinary course of business and on normal terms and conditions. Rent paid during the three months ended 30 September 2009 amounted to GBP 1,950 (30 September 2008: GBP 1,950).
- Mr C Cowden, a non-executive director, is also a director and shareholder of Cowden Limited, which
provides insurance broking services to the Company. All dealings with Cowden Limited are on normal
terms and conditions. Cowden Limited was paid A$11,640 during the three months ended 30 September 2009 (30 September 2008: A$8,706). In addition, amounts of A$76,462
(30 September 2008: A$61,103) were paid to Cowden Limited to be passed on to underwriters for premiums during the three months ended 30 September 2009.
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Non-cash financing and investing activities
2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows
2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest
Financing facilities available
Add notes as necessary fro an understanding of the position.
|
|
Amount available
$US'000
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Amount used
$US'000
|
|
|
|
|
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3.1 Loan facilities
|
-
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-
|
|
|
|
|
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3.2 Credit standby arrangements
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-
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-
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Estimated cash outflows for next quarter
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|
$US'000
|
|
|
|
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4.1 Exploration and evaluation
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2,500
|
|
|
|
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4.2 Development
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30,000
|
|
|
|
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4.3 Production
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10,000
|
|
|
|
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4.4 Administration
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1,500
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|
|
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Total
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44,000
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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
$US'000
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Previous quarter
$US'000
|
|
|
|
|
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5.1 Cash on hand and at bank
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815
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976
|
|
|
|
|
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5.2 Deposits at call
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-
|
-
|
|
|
|
|
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5.3 Bank overdraft
|
-
|
-
|
|
|
|
|
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5.4 Term deposits
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58,226
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67,633
|
|
|
|
|
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Total: cash at end of quarter (item 1.22)
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59,041
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68,609
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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 Interest in mining
tenements relinquished,
reduced or lapsed
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|
|
|
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6.2 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)
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Amount paid up per security
(see note 3)
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7.1 Preference +securities
(description)
|
|
|
|
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7.2 Changes during quarter
(a) increases through issues
(b) decreases through returns
of capital, buy-backs,
redemptions
|
|
|
|
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7.3 +Ordinary securities
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1,015,239,903
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1,015,239,903
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|
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7.4 Changes during quarter
(a) increases through issues/
Options exercise/
Broker warrants exercise
(b) decreases through returns
of capital, buy-backs
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19,000,000
1,970,000
2,329,280
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19,000,000
1,970,000
2,329,280
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(see 7.9 below)
(see 7.9 below)
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(see 7.9 below)
(see 7.9 below)
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7.5 +Convertible debt securities
(description)
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|
|
|
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7.6 Changes during quarter
(a) increases through issues
(b) decreases through
securities matured,
converted
|
|
|
|
|
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7.7 Options
(description and conversion
factor)
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Employee Option Plan 2006
90,000
890,000
250,000
3,500,000
250,000
750,000
1,000,000
Other Unquoted Options
850,000
1,630,150
Broker Warrants
2,441,440
4,636,990
788,437
161,563
|
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
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Exercise Price
A$0.7106
A$1.0500
A$1.4034
A$1.7022
A$1.1999
A$0.7033
A$1.0000
A$0.3500
A$1.2000
C$1.2000
C$0.6500
C$1.5600
C$1.5200
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Expiry Date
31 Jan 10
24 May 10
15 Oct 10
16 Apr 11
25 Aug 11
28 Oct 11
19 Dec 11
31 Oct 10
31 Dec 12
23 Nov 09
10 Feb 11
16 Jul 11
26 Aug 11
|
|
7.8 Issued during quarter
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Unquoted Options
350,000
Broker Warrants
788,437
161,563
|
Nil
Nil
Nil
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Exercise Price
A$18658
C$1.5600
C$1.5200
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Expiry Date
06 Aug 12
16 Jul 11
26 Aug 11
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7.9 Exercised during quarter
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Employee Option Plan 2006
600,000
1,170,000
200,000
Broker Warrants
2,329,280
|
600,000
1,170,000
200,000
2,329,280
|
Exercise Price
A$0.7106
A$1.0500
A$0.3500
C$1.20
|
Expiry Date
31 Jan 10
24 May 10
31 Oct 10
23 Nov 09
|
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7.10 Expired/lapsed during quarter
|
Employee Option Plan 2006
125,000
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Nil
|
A$0.6750
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28 Nov 11
|
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7.11 Debentures (totals only)
|
|
|
|
|
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7.12 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 give a true and fair view of the matters disclosed.
Sign here:
Print name: Heidi Brown, Company Secretary Date: 30 October 2009
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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