Mining Exploration Entity Quarterly Report

RNS Number : 8642W
Scotgold Resources Ltd
01 February 2013
 



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

SCOTGOLD RESOURCES LIMITED

 

ABN


Quarter ended ("current quarter")

42 127 042 773


              31 DECEMBER 2012

 

Consolidated statement of cash flows

 

Cash flows related to operating activities

 

Current quarter

$A

Year to date

(3 months)

$A

1.1

Receipts from product sales and related debtors

 



1.2

Payments for               (a)  exploration and evaluation

                                      (b)  development

                                      (c)  production

                                      (d)  administration

(250,021)

-

-

(348,647)

(549,269)

-

-

(660,200)

1.3

Dividends received

-

-

1.4

Interest and other items of a similar nature received

2,097

4,148

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

 

(596,571)

 

(1,205,321)


 

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)

(596,571)

(1,205,321)



 

1.13

Total operating and investing cash flows (brought  forward)

(596,571)

(1,205,321)


 

Cash flows related to financing activities



1.14

Proceeds from issues of shares, options, etc.

727,515

727,515

1.15

Proceeds from sale of forfeited shares

-

-

1.16

Proceeds from borrowings

-

1,770,000

1.17

Repayment of borrowings

-

-

1.18

Dividends paid

-

-

1.19

Other - costs relating to borrowings

(40,106)

(261,634)


Net financing cash flows

685,409

2,235,881


Net increase (decrease) in cash held

90,838

1,030,560

1.20

Cash at beginning of quarter/year to date

1,031,445

72,615

1.21

Exchange rate adjustments to item 1.20

(3,433)

15,675

1.22

Cash at end of quarter

1,118,850

1,118,850

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

 

1.23

 

Aggregate amount of payments to the parties included in item 1.2

 

$113,100

 

1.24

 

Aggregate amount of loans to the parties included in item 1.10

 

Nil

 

1.25

 

Explanation necessary for an understanding of the transactions

 

 

N/A

 

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


N/A

 

 

 

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

 

1,850,000

1,770,000

3.2

Credit standby arrangements

 

Nil

N/A

 

 



Estimated cash outflows for next quarter



$A

4.1

Exploration and evaluation

 

500,000

4.2

Development

 

NIL

4.3

Production

 

NIL

4.4

Administration

 

200,000


 

Total

700,000

 

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

$A

Previous quarter

$A

5.1

Cash on hand and at bank

1,117,330

654,575

5.2

Deposits at call

1,520

376,870

5.3

Bank overdraft

-

-

5.4

Other (provide details)

-

-


Total: cash at end of quarter (item 1.22)

1,118,850

1,031,445

 

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

 

Nil




6.2

Interests in mining tenements acquired or increased

 

 

Nil






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

 

211,565,739

211,565,739



7.4

Changes during quarter

(a)  Increases through issues

(b)  Listing of existing shares

(c)  Decreases through returns of capital, buy-backs

 

 

15,316,110

 

 

 

 

15,316,110

 

 

 

 

4.75 cents

(£0.031 GBP)

 

 

 

4.75 cents

(£0.031 GBP)

 

7.5

+Convertible debt securities (description)





7.6

Changes during quarter

(a)  Increases through issues

(b)  Decreases through securities matured, converted





7.7

Options 



Exercise price

Expiry date


(description and conversion factor)

26,222,222

3,000,000

15,316,110

153,161

-

-

-

-

£0.045

A$0.08

£0.045

£0.031

24 July 2015

31 March 2022

7 June 2014

7 December 2015

7.8

Issued during quarter

3,000,000

15,316,110

153,161

-

-

-

A$0.08

£0.045

£0.031

31 March 2022

7 June 2014

7 December 2015

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 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:              ............................................................           Date: 31 January 2013

(Company secretary)

 

 

 

Print name:            Peter Newcomb

 

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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