1st Nov 2010 07:48
Rule 5.3
Appendix 5B
Mining exploration entity quarterly report
Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.
Name of entity |
Metminco Limited (Consolidated Entity) |
ABN | Quarter ended ("current quarter") | |
43 199 759 349 | 30 September 2010 |
Consolidated statement of cash flows
Cash flows related to operating activities | Current quarter $A'000 | Year to date (.3 months) $A'000 | |
1.1 | Receipts from product sales and related debtors | ||
1.2 | Payments for: (a) exploration and evaluation (b) development (c) production (d) administration |
(1,288)
(2,198) |
(1,288)
(2,198) |
1.3 | Dividends received | ||
1.4 | Interest and other items of a similar nature received | 19 | 19 |
1.5 | Interest and other costs of finance paid | ||
1.6 | Income taxes paid | ||
1.7 | Other (provide details if material) | (180) | (180) |
Net Operating Cash Flows | (3,647) | (3,647) | |
Cash flows related to investing activities | |||
1.8 | Payment for purchases of: (a)prospects (b)equity investments (c) other fixed assets |
(1,661) (1) |
(1,661) (1) |
1.9 | Proceeds from sale of: (a)prospects (b)equity investments (c)other fixed assets | ||
1.10 | Loans to other entities | ||
1.11 | Loans repaid by other entities | ||
1.12 | Other (initial payment for purchase of Hampton Mining Limited shares from Takoradi Limited) | (175) | (175) |
Net investing cash flows | (1,837) | (1,837) | |
1.13 | Total operating and investing cash flows (carried forward) | (5,484) | (5,484) |
1.13 | Total operating and investing cash flows (brought forward) | (5,484) | (5,484) |
Cash flows related to financing activities | |||
1.14 | Proceeds from issues of shares, options, etc. Costs of issue | 5,309 (335) | 5,309 (335) |
1.15 | Proceeds from sale of forfeited shares | ||
1.16 | Proceeds from borrowings | ||
1.17 | Repayment of borrowings | ||
1.18 | Dividends paid | ||
1.19 | Other (Hampton minority ) | 29 | 29 |
Net financing cash flows | 5,003 | 5,003 | |
Net increase (decrease) in cash held
|
(481) |
(481) | |
1.20 | Cash at beginning of quarter/year to date | 2,159 | 2,159 |
1.21 | Exchange rate adjustments to item 1.20 | 139 | 139 |
1.22 | Cash at end of quarter | 1,817 | 1,817 |
Payments to directors of the entity and associates of the directors
Payments to related entities of the entity and associates of the related entities
Current quarter $A'000 | ||
1.23 |
Aggregate amount of payments to the parties included in item 1.2 |
616 |
1.24 |
Aggregate amount of loans to the parties included in item 1.10 | |
1.25 |
Explanation necessary for an understanding of the transactions | |
| Cash payments below are for the June 2010 and September 2010 quarters directors' fees and services: J Fillmore: $36,000 director fees + $12,445 legal fees = $48,445 WJ Howe: $175,000 W S Etheridge: $91,667 T. Read: $25,002 director fees + $47,356 services = $72,358 V. Vergara: $25,002 P J Wing: $53,750 director fees + $150,000 services = $203,750 (NB Directors agreed to defer directors' fees and services for the June 2010 quarter which were subsequently paid in the September 2010 quarter) | |
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 for an understanding of the position.
Amount available $A'000 | Amount used $A'000 | ||
3.1 | Loan facilities (Convertible Notes US$4.0 million) | 4,123 | 4,123 |
3.2 | Credit standby arrangements
| - | - |
Estimated cash outflows for next quarter
$A'000 | ||
4.1 | Exploration and evaluation | 1,000 |
4.2 | Development | |
4.3 | Production | |
4.4 | Administration | 900 |
Total | 1,900 |
Reconciliation of cash
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. | Current quarter $A'000 | Previous quarter $A'000 | |
5.1 | Cash on hand and at bank | 1,817 | 2,159 |
5.2 | Deposits at call | ||
5.3 | Bank overdraft | ||
5.4 | Other (provide details) | ||
Total: cash at end of quarter (item 1.22) | 1,817 | 2,159 | |
Changes in interests in mining tenements
Tenement reference | Nature of interest (note (2)) | Interest at beginning of quarter | Interest at end of quarter | ||
6.1 | Interests in mining tenements relinquished, reduced or lapsed | West Lake Eyre (EL3929) Sophie Downs (E 80/3742) Wilsons Reef (80/1673) | Relinquished on 06 July 2010
Relinquished on 23 July 2010 Surrendered on 23 July 2010 | ||
6.2 | Interests in mining tenements acquired or increased |
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.
Total number | Number quoted | Issue price per security (see note 3) (cents) | Amount paid up per security (see note 3) (cents) | ||
7.1 | Preference +securities (description) | ||||
7.2 | Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs, redemptions | ||||
7.3 | +Ordinary securities
| 835,258,549
| 835,258,549
| ||
7.4 | Changes during quarter (a) Increases through issues
(b) Decreases through returns of capital, buy-backs |
36,666,666 21,506,248
1,556,360 |
36,666,666 21,506,248
1,556,360 |
A$0.15 Consideration for purchase of 5,346,562 shares in Hampton Mining Limited Quarterly Interest on convertible notes |
A$0.15 Fully paid
Fully paid |
7.5 | +Convertible debt securities (description) | 36,649,413 (subject to USD/AUD exchange rate and the MNC Share price) | US$4 million with a coupon rate of 16% pa convertible at the lower of A$0.12 and 80% of VWAP over the three dealing days prior to conversion notice expiring 31 March 2012. | ||
7.6 | Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted | ||||
7.7 | Options (description and conversion factor) | Listed: 27,230,017 Unlisted: 4,500,000 | Listed: 27,230,017 Unlisted: 4,500,000 | Exercise price 25 cents
30 cents | Expiry date 04 Dec 2012
31 July 2012 |
7.8 | Issued during quarter | Unlisted: 4,500,000 |
30 cents |
31 July 2012 | |
7.9 | Exercised during quarter | ||||
7.10 | Expired during quarter | ||||
7.11 | Debentures (totals only) | ||||
7.12 | Unsecured notes (totals only) | ||||
Compliance statement
1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Actor 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:
Philip Killen Date: 31 October 2010.
(Director/Company secretary)
Print name: Philip Killen
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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Related Shares:
Metminco