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FSE
FSE
FSE - Firestone Energy - Mining Exploration Entity Quarterly Report
FIRESTONE ENERGY LIMITED
(formerly: Centralian Minerals Limited)
(Incorporated in Australia)
(Registration number ABN 058 436 794)
Share code on the JSE Limited: FSE Share code on the ASX: FSE
ISIN: AU000000FSE6
(SA company registration number 2008/023973/10)
("FSE" or "the Company")
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 Firestone Energy Limited
ABN 71 058 436 794 Quarter ended ("current quarter") 31 December 2008
Consolidated statement of cash flows
Cash flows related to operating activities Current quarter Year to date
$A`000 6 months)
$A`000
1.1 Receipts from product sales
and related debtors - -
1.2 Payments for
(a) exploration and evaluation 385 -
(b) development
(c) production
(d) administration (67) (257)
1.3 Dividends received
1.4 Interest and other items of a similar
nature received 18 51
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 336 (206)
Cash flows related to investing activities
1.8 Payment for purchases of: (a)prospects (2,725) (3,213)
(b)equity investments
(c) other fixed assets (20) (21)
1.9 Proceeds from sale of: (a)prospects
(b)equity investments
(c)other fixed assets 58 58
1.10 Loans to other entities
1.11 Loans repaid by other entities 20 106
1.12 Other (Bonds - net movement)
Net investing cash flows (2,667) (3,070)
1.13 Total operating and investing
cash flows (carried forward) (2,331) (3,276)
Cash flows related to financing activities
1.14 Proceeds from issues of
shares, options, etc. 747 1,662
1.15 Proceeds from sale of forfeited shares
1.16 Proceeds from borrowings - 100
1.17 Repayment of borrowings (100) (100)
1.18 Other- share issue expenses
1.19 Other
Net financing cash flows 647 1,662
Net increase (decrease) in cash held (1,684) (1,614)
1.20 Cash at beginning of quarter/year to
date 2,240 2,170
1.21 Exchange rate adjustments to item 1.20
1.22 Cash at end of quarter 556 556
Note - The exploration at 1.2(a) was moved to 1.8(a)
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
Aggregate amount of payments to the parties included
in item 1.2 (YTD) 92
1.2 Aggregate amount of loans to the parties
included in item 1.10 -
Explanation necessary for an understanding of the transactions
Consulting fees, salaries and super.
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
Not Applicable
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
Not Applicable
Financing facilities available
Add notes as necessary for 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 -
4.2 Development / Project Generation 410
Total 410
Reconciliation of cash
Reconciliation of cash at the end of the
quarter (as shown Current quarter Previous
quarter
in the consolidated statement of cash flows)
to the related $A`000 $A`000
items in the accounts is as follows.
5.1 Cash on hand and at bank 56 1,730
5.2 Deposits at call 500 510
5.3 Bank overdraft
5.4 Other
Total: cash at end of quarter (item 1.22) 556 2,240
Changes in interests in mining tenements
Tenement Nature of interest Interest at Interest at
Reference (note(2)) beginning end of
of quarter of quarter
6.1 Interests in mining Nil
tenements
relinquished,
reduced or lapsed
6.2 Interests in mining Nil
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 Amount paid up per
security (see note security (see note
3) (cents) 3) (cents)
7.1 Preference
+securities Nil Nil
(description)
7.2 Changes during
Quarter Nil Nil
(a) Increases
through issues
(b) Decreases
through returns of
capital, buybacks,
redemptions
7.3 +Ordinary
securities
CME 1,278,019,477 1,278,019,477 Fully Paid
7.4 Changes during
quarter
(a) Increases
through issues
(b) Decreases
through returns
of capital,
buy-backs 427,560,598 427,560,598 N/a Fully Paid
Options Converted
49,750,000 Nil N/a N/a
7.5 +Convertible
debt securities
BURAS
7.6 Changes during
quarter
(a) Increases
through issues
(b) Decreases
Through securities
matured,
converted
7.7 Options Exercise Price Expiry
2,500,000 Nil 1 cent 30 Jun 09
30,000,000 Nil 5 cents 30 Nov 12
110,000,000 Nil 6 cents 31 May 13
90,000,000 Nil 6 cents 30 Jun 13
7.8 Issued during
quarter
7.9 Exercised
During 49 750 000 Nil 1 cent 30 Jun 09
quarter
7.10 Expired during
quarter
7.11 Debentures
(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.
Notes
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.
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 hange of percentage interest and conditions
precedent in the list required for items 6.1 and 6.2.
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.
The definitions in, and provisions of, AASB 1022: Accounting for Extractive
Industries and AASB 1026: Statement of Cash Flows apply to this report.
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.
Pretoria
25 February 2009
Sponosor
River Group
Date: 25/02/2009 10:37:01 Produced by the JSE SENS Department.
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