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CZA
CZA
CZA - Coal of Africa Limited - Appendix 5B Mining Exploration Entity Quarterly
Report
Coal of Africa Limited
(previously, "GVM Metals Limited")
(Incorporated and registered in Australia)
(Registration number ABN 98008 905 388)
JSE/ASX/AIM Share code: CZA
ISIN AU000000CZA6
(`CoAL` or `the Company`)
APPENDIX 5B MINING EXPLORATION ENTITY QUARTERLY REPORT
CoAL today, Friday, 29 January 2010, submitted to the Australian Securities
Exchange ("ASX") an Appendix 5B "Mining exploration entity quarterly report":
QUOTE
NAME OF ENTITY
Coal of Africa Limited
ABN
98 008 905 388
QUARTER ENDED ("CURRENT QUARTER")
31 December 2010
CONSOLIDATED STATEMENT OF CASH FLOWS
Current Year to date
quarter (6 months)
Cash flows related to operating activities $A`000 $A`000
1.1 Receipts from product sales and related
debtors 9,188 17,881
1.2 Payments for
(a) exploration and evaluation 1,858) (3,985)
(b) development (41,359) (63,188)
(c) production (1,562) (5,191)
(d) administration (5,057) (11,632)
1.3 Dividends received - -
1.4 Interest and other items of a similar
nature received 593 1,151
1.5 Interest and other costs of finance paid (12) (40)
1.6 Income taxes paid - (18)
1.7 Other - -
Net operating cash flows (40,067) (65,022)
Cash flows related to investing activities
1.8 Payment for purchases of:
(a) prospects - -
(b) equity investments (1,998) (10,170)
(c) other fixed assets (8,655) (15,542)
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 (10,653) (25,712)
1.13 Total operating and investing cash
flows (carried forward) (50,720) (90,734)
Cash flows related to financing activities
1.14 Proceeds from issues of shares,
options, etc (net). 98,058 98,058
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 98,058 98,058
Net increase (decrease) in cash held 47,338 7,324
1.20 Cash at beginning of quarter/year to 47,030 87,033
date
1.21 Exchange rate adjustments to item 1.20 19 30
1.22 Cash at end of quarter 94,387
94,387
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 payments to the parties included
in item 1.2 581
1.24 Aggregate amount of loans to the parties included in
item 1.10 -
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
N/A
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
Amount
Available Amount used
$A`000 $A`000
3.1 Loan facilities - -
3.2 Credit standby arrangements 4,529 -
ESTIMATED CASH OUTFLOWS FOR NEXT QUARTER
$A`000
4.1 Exploration and evaluation (2,500)
4.2 Development (10,000)
Total (12,500)
RECONCILIATION OF CASH
Reconciliation of cash at the end of the Current Previous
quarter (as shown in the consolidated Quarter Quarter
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 1,423 7,135
5.2 Deposits at call 92,964 40,101
5.3 Bank overdraft - (206)
5.4 Other (provide details) - -
Total: cash at end of quarter (item 1.22) 94,387 47,030
CHANGES IN INTERESTS IN MINING TENEMENTS
Nature of Interest at Interest
Tenement interest beginning at end of
reference (note (2)) of quarter quarter
6.1 Interests in
mining tenements
relinquished,
reduced or lapsed
- - - -
6.2 Interests in
mining tenements Stayt 183 MT Coal New 74% 80%
acquired or Riet 182 MT Order
increased Portions Prospecting
3,4,5,6,13,14 & Rights
Remaining
Extent of
Overvlakte 125
MS
Bergen Op Zoom
124 MS
Semple 155 MS
Voorspoed 836
MS
Windhoek 649 MT
Tanga 648 MT Coal bed - 74%
Fripp 645 MT methane
Lukin 643 MT exploration
Salaita 188 MT rights
The Duel 186 MT
Telema 190 MT
Gray 189 MT
Martha 185 MT
Joffre 584 MS
Fanie 578 MS
Phantom 640 MS
Wildgoose 577
MS
Van Deventer
641 MS
Chase 576 MS
Stayt 183 MT
Nakab 184 MT
Riet 182 MT
Schuitdrift 179
MT
Mount Stuart
153 MT
Terblanche 155
MT
Meteor 141 MT
Naus 178 MT
Alicedale 138
MT
Septimus 156 MT
Martin 157 MT
Rynie 157 MT
That part/
portion of the
Unsurveyed
State Land
which is
bounded by the
co-ordinates
detailed in the
sketch plan
submitted in
respect of
which no
rights,
permissions and
permits have
been granted in
terms of the
MPRDA.
ISSUED AND QUOTED SECURITIES AT END OF CURRENT QUARTER
Total number Number quoted Issue price Amount paid
per up per
security security
(see note 3) (see note 3)
(cents) (cents)
7.1 Preference
securities
7.2 Changes
during quarter
(a) Increases
through issues
(b) Decreases
through returns
of capital, buy-
backs,
redemptions
7.3 Ordinary
securities 474,413,911 474,413,911
7.4 Changes
during quarter
(a) Increases
through issues
(b) Decreases
through returns
of capital, buy-
backs
7.5 Convertible
debt securities
7.6 Changes
during quarter
(a) Increases
through issues
(b) Decreases
through
securities
matured,
converted
7.7 Options
(description and
conversion Exercise
factor) price Expiry date
24,700,000 Nil See note 7 See note 7
7.8 Issued Exercise Exercise
during quarter price price
5,000,000 Nil See note 7 See note 7
7.9 Exercised
during quarter
636,544 Nil
7.10 Expired
during quarter
Nil Nil
7.11 Debentures
7.12 Unsecured
notes
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.
Signed
Date: 29 January 2010
Print name: Simon Farrell
(Managing Director)
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.
7 Issued and Quoted Options as at 31 December 2010:
Number Issued Number Quoted Exercise Expiry Date Lapsed Since
Price End of
quarter
9,200,000 - A$0.50 30 September 2011 -
7,000,000 - A$1.25 30 September 2012 -
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 -
1,650,000 - A$3.25 31 July 2010 -
5,000,000 - A$2.74 30 November 2014 -
Signed: 29 January 2010
Company secretary: Shannon Coates
UNQUOTE
Johannesburg
29 January 2010
Sponsor
Macquarie First South Advisers (Pty) Ltd
Date: 29/01/2010 12:49:01 Produced by the JSE SENS Department.
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