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

Centamin Egypt Limited

   ABN                            Quarter ended ("current quarter")

86 007 700 352

30 September 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 (3 months) $US'000
1.1 Receipts from product sales and related debtors	-	-
1.2 Payments for (a) exploration and evaluation	(2,894)	(2,894)
(b) development	(38,665)	(38,665)
(c) production	-	-
(d) administration	(1,094)	(1,094)
1.3 Dividends received	-	-
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)	-	-
Net Operating Cash Flows	(42,351)	(42,351)
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)	(42,351)	(42,351)

1.13 Total operating and investment cash flows (brought forward)	(42,351)	(42,351)
Cash flows related to financing activities
1.14 Proceeds from issues of shares, options, etc.	30,897	30,897
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)	(1,228)	(1,228)
Net financing cash flows	29,669	29,669
Net increase (decrease) in cash held	(12,682)	(12,682)
1.20 Cash at beginning of quarter/year to date	68,609	68,609
1.21 Exchange rate adjustments to item 1.20	3,114	3,114
1.22 Cash at end of quarter	59,041	59,041

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	289
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 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.

  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	30,000
4.3 Production	10,000
4.4 Administration	1,500
Total	44,000

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	815	976
5.2 Deposits at call	-	-
5.3 Bank overdraft	-	-
5.4 Term deposits	58,226	67,633
Total: cash at end of quarter (item 1.22)	59,041	68,609

  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	1,015,239,903	1,015,239,903
7.4 Changes during quarter   (a) increases through issues/      Options exercise/   Broker warrants exercise   (b) decreases through returns   of capital, buy-backs	19,000,000 1,970,000 2,329,280	19,000,000 1,970,000 2,329,280	(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 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	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	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	Unquoted Options 350,000 Broker Warrants 788,437 161,563	Nil Nil Nil	Exercise Price A$18658 C$1.5600 C$1.5200	Expiry Date 06 Aug 12 16 Jul 11 26 Aug 11
7.9 Exercised during quarter	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
7.10 Expired/lapsed during quarter	Employee Option Plan 2006 125,000	Nil	A$0.6750	28 Nov 11
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 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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