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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, Wednesday, 1 November 2011, 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 June 2011
CONSOLIDATED STATEMENT OF CASH FLOWS
Year to date
Cash flows related to operating Current (3 months)
activities quarter $`000
$`000
1.1 Receipts from product sales 59,129 59,129
and related debtors
1.2 Payments for (a) (481) (481)
exploration & evaluation 779 779
(b) development (40,765) (40,765)
(c) production (15,810) (15,810)
(d) logistics (6,827) (6,827)
(e) administration
1.3 Dividends received - -
1.4 Interest and other items of a 211 211
similar nature received
1.5 Interest and other costs of (453) (453)
finance paid
1.6 Income taxes paid (3,422) (3,422)
1.7 Other (provide details if - -
material)
(7,639) (7,639)
Net Operating Cash Flows
Cash flows related to
investing activities
1.8 Payment for purchases of: - -
(a) prospects - -
(b) equity investments (9,287) (9,287)
(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 (2,013) (2,013)
material)
(11,300) (11,300)
Net investing cash flows
1.13 Total operating and investing (18,939) (18,939)
cash flows (carried forward)
Cash flows related to
financing activities
1.14 Proceeds from issues of 263 263
shares, options, etc.
1.15 Proceeds from sale of - -
forfeited shares
1.16 Proceeds from borrowings - -
1.17 Repayment of borrowings (432) (432)
1.18 Dividends paid - -
1.19 Other (provide details if 6,717 6,717
material)
Net financing cash flows 6,548 6,548
(12,391) (12,391)
Net increase (decrease) in
cash held
1.20 Cash at beginning of 22,761 22,761
quarter/year to date
1.21 Exchange rate adjustments to (1,549) (1,549)
item 1.20
1.22 Cash at end of quarter 8,821 8,821
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 1,035
in item 1.2
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 Amount used
available $`000
$`000
3. Loan facilities 17,500 32,500
1
3. Credit standby arrangements 2,631 2,619
2
Estimated cash outflows for next quarter
$`000
4.1 Exploration and evaluation 4,558
4.2 Development 16,114
4.3 Production 38,221
4.4 Logistics 25,963
4.5 Administration 3,395
Total 88,251
Reconciliation of cash at the end of Current Previous
the quarter (as shown in the quarter quarter
consolidated statement of cash flows) $`000 $`000
to the related items in the accounts
is as follows.
5.1 Cash on hand and at bank 8,821 22,761
5.2 Deposits at call - -
5.3 Bank overdraft - -
5.4 Other (provide details) - -
Total: cash at end of quarter 8,821 22,761
(item 1.22)
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
acquired or
increased
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 532,139,661 532,139,661
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 20,453,062 Nil Exercise Expiry date
(description price See Note 6
and conversion See Note 6
factor)
7.8 Issued Nil Nil See Note 6 See Note 6
during quarter
7.9 Exercised 1,000,000 Nil See Note 6 See Note 6
during quarter
7.10 Expired 7,450,000 Nil
during quarter
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 Number Exercise Expiry Date Lapsed Since
Issued Quoted Price End of
quarter
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 2012 -
912,500 - A$1.90 30 June 2014 -
5,000,000 - A$2.74 30 November 2014 -
2,500,000 - A$1.20 9 November 2015 -
1* - GBP0.60 1 November 2014 -
1,540,561 - A$1.40 30 September 2015 -
*1 Option to subscribe for 50 million ordinary shares for 60 pence each between
1 November 2010 and 1 November 2014 as approved by shareholders on 22 April 2010
Signed: 31 October 2011
Company secretary: Shannon Coates
UNQUOTE
Johannesburg
1 November 2011
JSE Sponsor
Macquarie First South Capital (Pty) Ltd
Date: 01/11/2011 07:06:39 Produced by the JSE SENS Department.
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