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CZA
CZA
CZA - CoAL - Mining Exploration Entity Quarterly Report
Coal of Africa Limited
(previously, "GVM Metals Limited")
(Incorporated and registered in Australia)
(Registration number ABN 008 905 388)
Share code on the JSE Limited: CZA
ISIN: AU000000CZA6
Share code on the Australian Stock Exchange Limited: CZA
ISIN AU000000CZA6
(`CoAL` or `the Company`)
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
Coal of Africa Limited
ABN Quarter ended ("current quarter")
98 008 905 388 30 September 2008
Consolidated statement of cash flows
Cash flows related to operating Current Year to
activities quarter date
$A`000 (3 months)
$A`000
1.1 Receipts from product 1,920 1,920
sales and related
debtors
1.2 Payments for
(a) exploration (2,233) (2,233)
and evaluation
(b) development (4,160) (4,160)
(c) production (7,558) (7,558)
(d) administration (4,576) (4,576)
1.3 Dividends received
1.4 Interest and other items 2,101 2,101
of a similar nature
received
1.5 Interest and other costs (203) (203)
of finance paid
1.6 Income taxes paid - -
1.7 Other
Net Operating Cash (14,709) (14,709)
flows
Cash flows related
to investing activities
1.8 Payment for purchases of:
( a) prospects - -
(b) equity investments (6,191) (6,191)
(c) other fixed assets (2,605) (2,605)
1.9 Proceeds from sale of:
(a) prospects - -
(b) equity investments - -
(c) other fixed assets - -
1.10 Loans to other entities - -
1.11 Loans repaid by - -
other entities
1.12 Other (provide details if (23,296) (23,296)
material - Note 6)
Net investing cash (32,092) (32,092)
flows
1.13 Total Operating (46,801) (46,801)
and investing cash
flows (carried
forward)
1.13 Total operating and (46,801) (46,801)
Investing cash
flows (brought
forward)
Cash flows related to
financing activities
1.14 Proceeds from issues 33,451 33,451
of shares, options,
etc.(net) - see note
7.4 below
1.15 Proceeds from sale - -
of forfeited shares
1.16 Proceeds from borrowings - -
1.17 Repayment of borrowings - -
1.18 Dividends paid - -
1.19 Other (Exchange rate - -
related movements in
foreign borrowings
and reserves)
Net financing cash flows 33,451 33,451
Net increase (decrease) (13,350) (13,350)
in cash held
1.20 Cash at beginning of 252,005 252,005
quarter/year to date
1.21 Exchange rate adjustments (112) (112)
to item 1.20
1.22 Cash at end of quarter 238,543 238,543
Payments to directors of the entity and associates of the
directors
Payments to related entities of the entity and associates of
the related entities
Current
quarter$A`000
1.23 Aggregate amount of 157
payments to the parties
included in item 1.2
1.24 Aggregate amount of -
loans to the parties
included in item 1.10
1.25 Explanation necessary
or an understanding of
the transactions
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 Amount
available used
$A`000 $A`000
3.1 Loan facilities - -
3.2 Credit stand by 4,570 2,283
arrangements
Estimated cash outflows for
next quarter
$A`000
4.1 Exploration and (1,500)
evaluation
4.2 Development (5,000)
Total (6,500)
Reconciliation of cash
Reconciliation of cash Current Previous
at the end of the quarter quarter
quarter (as shown in the $A`000 $A`000
consolidated statement
of cash flows) to the
related items in the
accounts is as follows.
5.1 Cash on hand and at bank 3,902 396
5.2 Deposits at call 236,924 251,960
5.3 Bank overdraft (2,283) (351)
5.4 Other (provide details) - -
Total: cash at end 238,543 252,005
of quarter (item 1.22)
Changes in interests in mining tenements
Tenement Nature Interest Interest
reference Of at beginning of at end
interest quarter of quarter
(note (2)
6.1 Interests
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 Issue Amount
quoted Price Paid
Per up per
security security
(see (see
note Note
3) (cents) 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 411,375,378 411,375,378
securities
7.4 Changes
during
quarter 12,000,000 12,000,000 GBP1.30 GBP1.30
(a) Increases 55,000 55,000 A$3.12 A$3.12
through 375,000 375,000 A$0.40 A$0.40
issues
(b) Decreases
through
returns of
capital, buy-
backs
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) 19,230,802 Nil Exercise Expiry date
price
See Note 7 See Note 7
7.8 Issued
during
quarter Exercise Expiry
price date
See Note 7 See Note 7
7.9 Exercised
during
quarter 690,866 690,866 GBP0.65 30 November 2009
7.10 Expired
during quarter Nil Nil
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: ..(Director) Date: 31 October 2008
Print name: Simon Farrell
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.
6 The $A26,123,000 recorded in 1.12 of the cash flow relates to cash
paid relate to logistics development for CoAL`s Makhado and Vele
projects. These payments are deposits for port allocation for the
export of coal from the Maputo terminal in Mozambique.
7 Issued and Quoted Options as at 30 September 2008:
Number Number Exercise Expiry Date Lapsed
Issued Quoted Price Since End
of quarter
9,250,000 - A$0.50 30 September 2011 -
196,688 - GBP0.34 17 May 2009 -
7,000,000 - A$1.25 30 September 2012 -
934,114 - GBP0.65 30 November 2009 -
250,000 - A$2.05 1 May 2012 -
1,000,000 - A$1.90 30 September 2012 -
600,000 - A$1.25 1 May 2012 -
Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 31/10/2008 14:17:21 Produced by the JSE SENS Department.
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