26th Jul 2006 10:06
Centamin Egypt Limited26 July 2006 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 Centamin Egypt Limited ABN Quarter ended ("current quarter") 86 007 700 352 30 June 2006 Consolidated statement of cash flows Centamin Egypt Limited Pharaoh Gold Mines NL (100%) Viking Resources Ltd (100%) North African Resources (100%) ----------- -----------Cash flows related to operating activities Current Quarter Year to date $A'000 (12 months) $A'000 ----------- -----------1.1 Receipts from product sales and relateddebtors1.2 Payments for (a) exploration andevaluation (3,392) (10,817)(b) development (635) (1,278)(c) production - -(d) administration (268) (955)1.3 Dividends received - -1.4 Interest and other items of a similarnature received 566 1,1301.5 Interest and other costs of finance paid - -1.6 Income taxes paid - -1.7 Other (provide details if material) - - ----------- -----------Net Operating Cash Flows (3,729) (11,920)--------------------------------- ----------- ----------- Cash flows related to investing activities 1.8 Payment for purchases of (a) prospects - -(b) equity investments - -(c) other fixed assets (207) (803)1.9 Proceeds from sale of (a) prospects - -(b) equity investments - -(c) other fixed assets - (6)1.10 Loans to other entities *(Refer Note 1) (4,192) (12,568)1.11 Loans repaid by other entities - -1.12 Other (provide details if material) - - ----------- -----------Net investing cash flows (4,399) (13,377) ----------- -----------1.13 Total operating and investing cash flows(carried forward) (8,128) (25,297) ----------- ----------- 1.13 Total operating and investment cash flows(brought (8,128) (25,297)forward) ----------- -------------------------------------------- Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 46,437 46,6401.15 Proceeds from sale of forfeited shares - -1.16 Proceeds from borrowings *(Refer Note 1) 4,192 12,5681.17 Repayment of borrowings 236 5521.18 Dividends paid - -1.19 Other (provide details if material) - - ----------- -----------Net financing cash flows 50,865 59,760--------------------------------- ----------- ----------- Net increase (decrease) in cash held 42,737 34,463 1.20 Cash at beginning of quarter/year to date 9,749 17,9461.21 Exchange rate adjustments to item 1.20 1,969 2,046 ----------- -----------1.22 Cash at end of quarter 54,455 54,455--------------------------------- ----------- ----------- *Note 1 - From the March 2004 Quarter onwards, the funding of explorationexpenditure by the Holding Company to its subsidiaries is also disclosed as aninter-entity loan under sections 1.10 and 1.16 respectively. -----------Payments to directors of the entity and associates of the Current quarterdirectorsPayments to related entities of the entity and associates of $A'000the related entities ----------- 1.23 Aggregate amount of payments to the parties included initem 1.2 228,671 ----------- 1.24 Aggregate amount of loans to the parties included in item -1.10 ------------------------------------------------------ 1.25 Explanation necessary for an understanding of the transactions - Salaries, superannuation contributions, consulting and directors fees paidto Directors during the quarter amounted to $200,483. - Mr S El-Raghy and Mr J El-Raghy are Directors and shareholders of El-RaghyKriewaldt Pty Ltd ("ELK"), which provides office premises to the Company inAustralia. All dealings with ELK are in the ordinary course of business and onnormal terms and conditions. Rent paid to ELK during the quarter amounted to$13,395. - 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 andconditions. Rent paid during the quarter amounted to $4,907. - Mr C Cowden, a non-executive director, is also a director and shareholder ofCowden Limited, which provides insurance broking services to the Company. Alldealings with Cowden Limited are in the ordinary course of business and onnormal terms and conditions. Insurance premiums paid to Cowden Limited duringthe quarter amounted to $9,886. Non-cash financing and investing activities 2.1 Details of financing and investing transactions which have had a materialeffect on consolidated assets and liabilities but did not involve cash flows - 2.2 Details of outlays made by other entities to establish or increase theirshare 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 Amount used $A'000 $A'000 ----------- ----------- 3.1 Loan facilities - - ----------- ----------- 3.2 Credit standby arrangements - ---------------------------------- ----------- ----------- Estimated cash outflows for next quarter $A'000 ----------- 4.1 Exploration and evaluation 3,300 ----------- 4.2 Development 14,000------------------------------------------- ----------- Total 17,300 ------------------------------------------- ----------- Reconciliation of Cash --------------------------------- ----------- -----------Reconciliation of cash at the end of the Current quarter Previous quarterquarter (as shown in the consolidatedstatement of cash flows) to the related itemsin the accounts is as follows. $A'000 $A'000 --------------------------------- ----------- ----------- 5.1 Cash on hand and at bank 916 1,072 ----------- ----------- 5.2 Deposits at call 2,906 473 ----------- ----------- 5.3 Bank overdraft - - ----------- ----------- 5.4 Term deposits 50,633 8,204--------------------------------- ----------- ----------- Total: cash at end of quarter (item 1.22) 54,455 9,749--------------------------------- ----------- ----------- Changes in interests in mining tenements ---------- ---------- ---------- ---------- Tenement reference Nature of interest Interest at beginning of quarter Interest at end of quarter (note (2)) ---------- ---------- ---------- ----------6.1 Interestin miningtenementsrelinquished,reduced orlapsed ---------- ---------- ---------- ----------6.2 Interestsin miningtenementsacquired orincreased ---------- ---------- ---------- ---------- Issued and quoted securities at end of current quarter Description includes rate of interest and any redemption or conversion rightstogether with prices and dates. ------------------ ---------- ---------- ---------- ---------- Total number Number quoted Issue price per security Amount paid up per security (see note 3) (see note 3) ------------------ ---------- ---------- ---------- ----------7.1 Preference+securities(description)------------------ ---------- ---------- ---------- ----------7.2 Changes duringquarter(a) increasesthrough issues(b) decreasesthrough returnsof capital,buy-backs,redemptions------------------ ---------- ---------- ---------- ----------7.3 +Ordinarysecurities 578,295,369 578,295,369------------------ ---------- ---------- ---------- ----------7.4 Changesduring quarter 75,000,000 75,000,000 27.5 pence 27.5 pence(a) increasesthroughissues/ 445,000 445,000 (See 7.9 below) (See 7.9 below)options exercise(b) decreasesthrough returnsof capital,buy-backs ---------- ---------- ---------- ----------------------------7.5 +Convertibledebt securities(description)------------------ ---------- ---------- ---------- ----------7.6 Changes duringquarter(a) increasesthrough issues(b) decreasesthroughsecurities matured,converted------------------ ---------- ---------- ---------- ----------7.7 Options Employee Nil Exercise price Expiry date Option Plan 2002(descriptionand conversion 500,000 Nil 23.10 cents 12/11/2006factor) 500,000 Nil 35.49 cents 15/12/2006 775,000 Nil 28.04 cents 04/02/2008 365,000 Nil 28.04 cents 17/02/2008 4,200,000 Nil 35.00 cents 31/10/2010 1,500,000 43.55 cents 08/12/2008 ---------- ---------- ---------- ----------7.8 Issued duringquarter ---------- ---------- ---------- ----------7.9 Exercisedduring quarter 30,000 30,000 28.04 cents 17/02/2008 50,000 50,000 23.10 cents 17/11/2006 100,000 100,000 23.10 cents 12/11/2006 15,000 15,000 28.04 cents 17/02/2008 250,000 250,000 35.49 cents 15/12/2006 ---------- ---------- ---------- ----------7.10 Expired/lapsedduring quarter ---------- ---------- ---------- ----------------------------7.11 Debentures(totals only) ---------- ----------------------------7.12 Unsecurednotes(totals only) ---------- ---------------------------- Compliance statement 1. This statement has been prepared under accounting policies which comply withaccounting standards as defined in the Corporations Act or other standardsacceptable to ASX (see note 4). 2. This statement does give a true and fair view of the matters disclosed. Sign here: Company Secretary Date: 26 July 2006 Print name: Heidi Brown Notes 1. The quarterly report provides a basis for informing the market how theentity's activities have been financed for the past quarter and the effect onits cash position. An entity wanting to disclose additional information isencouraged 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 ofinterests in mining tenements acquired, exercised or lapsed during the reportingperiod. If the entity is involved in a joint venture agreement and there areconditions precedent which will change its percentage interest in a miningtenement, it should disclose the change of percentage interest and conditionsprecedent in the list required for items 6.1 and 6.2. 3. Issued and quoted securities The issue price and amount paid up is notrequired in items 7.1 and 7.3 for fully paid securities. 4. The definitions in, and provisions of, AASB 1022: Accounting for ExtractiveIndustries and AASB 1026: Statement of Cash Flows apply to this report. 5. Accounting Standards ASX will accept, for example, the use of InternationalAccounting Standards for foreign entities. If the standards used do not addressa topic, the Australian standard on that topic (if any) must be complied with. == == == == == This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Centamin PLC