Appendix 5B

RNS Number : 6555W
Centamin Egypt Limited
31 July 2009
 



For Immediate Release

31 July 2009


Rule 5.3


Centamin Egypt Limited ('Centamin' or 'the Company') 

(TSX:CEE, ASX:CNT, AIM:CEY)



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 2009



Consolidated statement of cash flows


Centamin Egypt Limited

Pharaoh Gold Mines NL (100%)

Viking Resources Ltd (100%)

North African Resources (100%)

Centamin Limited (100%)



Cash flows related to operating activities

Current Quarter


$US'000

Year to date

(12 months)

$US'000

1.1 Receipts from product sales and related debtors

-

-

1.2 Payments for (a) exploration and evaluation

(2,988)

(10,118)

  (b) development

(47,050)

(142,400)

  (c) production

-

-

  (d) administration

(794)

(2,845)

1.3 Dividends received

-

-

1.4 Interest and other items of a similar nature received

402

2,893

1.5 Interest and other costs of finance paid

-

-

1.6 Income taxes paid

-

-

1.7 Other (provide details if material)

-

-

  Net Operating Cash Flows

(50,430)

(152,470)




Cash flows related to investing activities






1.8 Payment for purchases of (a) prospects

-

-

  (b) equity investments

-

-

  (c) other fixed assets

-

-

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 (provide details if material)

-

-

   Net investing cash flows

-

-

1.13 Total operating and investing cash flows (carried forward)

(50,430)

(152,470)



1.13 Total operating and investment cash flows (brought forward)

(50,430)

(152,470)




Cash flows related to financing activities






1.14 Proceeds from issues of shares, options, etc.

2,894

58,186

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 (bank and realised foreign exchange charges)

(249)

(2,917)

   Net financing cash flows

2,645

55,269




Net increase (decrease) in cash held

(47,785)

(97,201)




1.20 Cash at beginning of quarter/year to date

109,647

182,329

1.21 Exchange rate adjustments to item 1.20

6,747

(16,519)

1.22 Cash at end of quarter

68,609

68,609



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

$US'000



1.23 Aggregate amount of payments to the parties included in item 1.2

325



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 paid to Directors during the three months ended 30 June 2009 amounted to A$359,250 (30 June 2008A$257,175).


  • 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 June 2009 amounted to A$16,378 (30 June 2008: A$15,601).


  • Mr S El-Raghy provides office premises to the Company in AlexandriaEgypt. All dealings are in the ordinary course of business and on normal terms and conditions. Rent paid during the three months ended 30 June 2009 amounted to GBP 1,950 (30 June 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$5,313 during the three months ended 30 June

      2009 (30 June 2008A$Nil). In addition, amounts of A$31,741  (30 June 2008: A$Nil) were paid to 

  Cowden Limited to be passed on to underwriters for premiums during the three months ended 30 

   June 2009   



  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

Amount used

$US'000




3.1 Loan facilities

-

-




3.2 Credit standby arrangements

-

-


Estimated cash outflows for next quarter


$US'000



4.1 Exploration and evaluation

2,500



4.2 Development

45,000



   Total

47,500


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

$US'000

Previous quarter

$US'000




5.1 Cash on hand and at bank

976

3,999




5.2 Deposits at call

-

-




5.3 Bank overdraft

-

-




5.4 Term deposits

67,633

105,648




   Total: cash at end of quarter (item 1.22)

68,609

109,647


  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 Interest in mining 

  tenements relinquished, 

  reduced or lapsed





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) 

Amount paid up per security

(see note 3)

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

991,940,623

988,059,663



7.4 Changes during quarter

  (a) increases through issues/  

   Options exercise

  Broker warrants exercise

  (b) decreases through returns

  of capital, buy-backs



740,000

3,140,960



740,000

3,140,960



 (see 7.9 below)

(see 7.9 below)



 (see 7.9 below)

(see 7.9 below)

7.5  +Convertible debt securities

   (description)





7.6 Changes during quarter

  (a) increases through issues

  (b) decreases through

  securities matured, 

  converted






7.7  Options

   (description and conversion 

  factor)

Employee Option Plan 2006

690,000

2,060,000

250,000

3,500,000

250,000

750,000

125,000

1,000,000

Other Unquoted Options

1,050,000

1,630,150

Broker Warrants

4,770,720

4,636,990




Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil



Nil

Nil


Nil

Nil

Exercise Price


A$0.7106

A$1.0500

A$1.4034

A$1.7022

A$1.1999

A$0.7033

A$0.6750

A$1.0000



A$0.3500

A$1.2000


C$1.2000

C$0.6500

Expiry Date


31 Jan 10

24 May 10

15 Oct 10

16 Apr 11

25 Aug 11

28 Oct 11

28 Nov 11

19 Dec 11



31 Oct 10

31 Dec 12


23 Nov 09

10 Feb 11

7.8 Issued during quarter

Unquoted Options

1,630,150


Nil

Exercise Price

A$1.20

Expiry Date

31 Dec 12

7.9 Exercised during quarter

Employee Option Plan 2006

510,000

125,000

105,000

Broker Warrants

1,027,378

613,582

829,280

670,720



510,000

125,000

105,000


1,027,378

613,582

829,280

670,720

Exercise Price


A$0.7106

A$0.6750

A$1.0500


C$0.86

C$0.86

C$1.20

C$0.65

Expiry Date


31 Jan 10

28 Nov 11

24 May 10


11 Apr 09

20 Apr 09

23 Nov 09

10 Feb 11

7.10 Expired/lapsed 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 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 BrownCompany Secretary        Date: 31 July 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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