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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 98 008 905 388)
JSE/ASX/AIM Share code: CZA
ISIN AU000000CZA6
(`CoAL` or `the Company`)
APPENDIX 5B MINING EXPLORATION ENTITY QUARTERLY REPORT
CoAL today, Thursday, 28 October 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")
30 September 2010
CONSOLIDATED STATEMENT OF CASH FLOWS
Current Year to date
quarter (9 months)
Cash flows related to operating activities $A`000 $A`000
1.1 Receipts from product sales and related 15,551 15,551
debtors
1.2 Payments for
(a) exploration and evaluation (537) (537)
(b) development - -
(c) production (31,621) (31,621)
(d) administration (9,457) (9,457)
1.3 Dividends received - -
1.4 Interest and other items of a similar 909 909
nature received
1.5 Interest and other costs of finance paid (43) (43)
1.6 Income taxes paid - -
1.7 Other - -
Net operating cash flows (25,198) (25,198)
Cash flows related to investing activities
1.8 Payment for purchases of:
(a) prospects (1,900) (1,900)
(b) equity investments - -
(c) other fixed assets (31,194) (31,194)
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 - - -
Note 6)
Net investing cash flows (33,094) (33,094)
1.13 Total operating and investing cash (58,292) (58,292)
flows (carried forward)
Cash flows related to financing activities
1.14 Proceeds from issues 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 - -
Net increase (decrease) in cash held (58,292) (58,292)
1.20 Cash at beginning of quarter/year to 101,063 101,063
date
1.21 Exchange rate adjustments to item 1.20 (109) (109)
1.22 Cash at end of quarter 42,662 42,662
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 1.2 710
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 26,163 20,672
3.2 Credit standby arrangements 10,726 -
ESTIMATED CASH OUTFLOWS FOR NEXT QUARTER
$A`000
4.1 Exploration and evaluation 350
4.2 Development 2,427
4.3 Production 48,582
4.4 Administration 6,827
Total 58,186
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 12,103 84,115
5.2 Deposits at call 30,559 16,948
5.3 Bank overdraft - -
5.4 Other (provide details) - -
Total: cash at end of quarter (item 1.22) 42,662 101,063
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 Bekaf 650 MS, New Order 100% -
mining tenements CastleKoppies 652 Prospecting
relinquished, MS, Chase 576 MS, Rights
reduced or lapsed Fanie 578 MS,
Joffre 584 MS,
Kleinenberg 636
MS, Wildgoose 577
MS, Albert 686
MS, Enfield 474
MS, Rissik 637
MS, Vleifontein
691 MS
Schalk 542 MS, New Order
Qualipan 655MS, Prospecting
M`Tamba-Vlei 654 Rights
MS, Middelfontein
683 MS,
Sandilands 708 MS
6.2 Interests in Portion 2 and the New Order - 100%
mining tenements Remaining Extent Prospecting
acquired or of Mount Stuart Rights
increased 153 MT, Portion
1, Remaining
Extent of
Terblanche 155
MT, Septimus 156
MT, Nakab 184 MT,
Lukin 643 MS,
Remaining Extent
and Portion 1 of
Overwinning 713
MS, Remaining
Extent, portion 1
and portion 2 of
the farm Windhoek
649 MS,
Schuitdrift 179
MT, Gray 189 MT
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 Nil
7.2 Changes
during quarter
(a) Increases
through issues
(b) Decreases
through returns
of capital, buy-
backs,
redemptions
7.3 Ordinary 530,514,663 530,514,663
securities
7.4 Changes
during quarter
(a) Increases
through issues
(b) Decreases
through returns
of capital, buy-
backs
7.5 Convertible
debt securities Nil
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
25,487,498 Nil
7.8 Issued Exercise Exercise
during quarter price price
Nil Nil See note 6 See note 6
7.9 Exercised
during quarter
Nil Nil
7.10 Expired
during quarter
Nil Nil
7.11 Debentures Nil
7.12 Unsecured Nil
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.
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 30 September 2010:
Number Issued Number Quoted Exercise Expiry Date Lapsed Since
Price End of
quarter
9,074,998 - 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 -
912,500 - A$1.90 30 June 2014
5,000,000 - A$2.74 30 November 2014 -
Signed: 30 September 2010
Company secretary: Shannon Coates
UNQUOTE
Johannesburg
28 October 2010
JSE Sponsor
Macquarie First South Advisers (Pty) Ltd
Date: 28/10/2010 09:37:01 Produced by the JSE SENS Department.
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