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CZA
CZA
CZA - Coal of Africa Limited - Appendix 5B - Mining Exploration Entity Quarterly
Report
Coal of Africa Limited
(Incorporated and registered in Australia)
(Registration number ABN 008 905 388)
ISIN AU000000CZA6
JSE/ASX/AIM share code: CZA
("CoAL or the "Company" or the "Group")
APPENDIX 5B - MINING EXPLORATION ENTITY QUARTERLY REPORT
CoAL today, Tuesday, 31 January 2012, 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 2011
Consolidated statement of cash flows
Cash flows related to operating Year to
activities Current date
quarter (6.months)
US$`000 US$`000
1.1 Receipts from product sales 85,487 144,616
and related debtors
1.2 Payments for (a) (2,993) (3,474)
exploration & evaluation (3,699) (2,920)
(b)development (84,755) (125,520)
(c)production (4,578) (20,388)
(d)logistics (7,484) (14,311)
(e)administration
1.3 Dividends received - -
1.4 Interest and other items of a 316 527
similar nature received
1.5 Interest and other costs of (155) (608)
finance paid
1.6 Income taxes paid 210 (3,212)
1.7 Other (provide details if - -
material)
(17,651) (25,290)
Net Operating Cash Flows
Cash flows related to
investing activities
1.8 Payment for purchases of: - -
(a) prospects - -
(b) equity investments (4,870) (14,157)
(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 1,555 (458)
material)
(3,315) (14,615)
Net investing cash flows
1.13 Total operating and investing (20,966) (39,905)
cash flows (carried forward)
1.13 Total operating and investing (20,966) (39,905)
cash flows (brought forward)
Cash flows related to financing
activities
1.14 Proceeds from issues of shares, 102,769 103,032
options, etc.
1.15 Proceeds from sale of forfeited - -
shares
1.16 Proceeds from borrowings 7,526 7,526
1.17 Repayment of borrowings (1,088) (1,520)
1.18 Dividends paid - -
1.19 Other (provide details if material) (4,798) 1,919
Net financing cash flows 104,409 110,957
83,443 71,052
Net increase (decrease) in cash held
1.20 Cash at beginning of quarter/year to 8,821 22,761
date
1.21 Exchange rate adjustments to item (3,058) (4,607)
1.20
1.22 Cash at end of quarter 89,206 89,206
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
US$`000
1.23 Aggregate amount of payments to the parties 466
included 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 N/a
the transactions
NON-CASH FINANCING AND INVESTING ACTIVITIES2.1 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
The loan facilities below relate to the Deutsche Bank facility and excludes the
new US$40 million working capital facility with J.P. Morgan Chase Bank N.A.
Amount Amount
available used
US$`000 US$`000
3.1 Loan facilities 10,000 40,000
3.2 Credit standby arrangements 2,009 474
Estimated cash outflows for next quarter
4.1 Exploration and evaluation 48,323*
4.2 Development 7,556
4.3 Production 52,231
4.4 Logistics 28,852
4.5 Administration 6,289
Total 143,251
*includes US$43 million payable on acquisition
of the Chapudi Project.
Reconciliation of cash
Reconciliation of cash at the end of the Current Previous
quarter (as shown in the consolidated quarter quarter
statement of cash flows) to the related US$`000 US$`000
items in the accounts is as follows.
5.1 Cash on hand and at bank 26,353 8,821
5.2 Deposits at call 62,853 -
5.3 Bank overdraft - -
5.4 Other (provide details) - -
Total: cash at end of quarter 89,206 8,821
(item 1.22)
Changes in interests in mining tenements
Tenement Nature of Interest Interest
reference interest at at end of
(note beginning quarter
(2)) of
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
Description includes rate of interest and any redemption or conversion rights
together with prices and dates.
Total number Number Issue Amount paid
quoted price per up per
security security
(see note (see note
3) (cents) 3) (cents)
7.1 Preference +securities Nil
(description)
7.2 Changes during quarter
7.3 +Ordinary securities 662,284,573 662,284,573
7.4 Changes during quarter
(a) Increases through
issues 130,144,912 130,144,912
(b) Decreases through
returns of capital, buy-
backs
7.5 +Convertible debt Nil
securities
(description)
7.6 Changes during quarter
(a) Increases through
issues
(b) Decreases through
securities matured,
converted
7.7 Options (description 20,259,562 Nil Exercise Expiry date
and conversion factor) price See Note 6
See Note 6
7.8 Issued during quarter Nil Nil See Note 6 See Note 6
7.9 Exercised during 193,500 Nil See Note 6 See Note 6
quarter
7.10 Expired during quarter Nil Nil
7.11 Debentures Nil
(totals only)
7.12 Unsecured notes (totals Nil
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.
Signed 31 January 2012
Shannon Coates
Company Secretary
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 Issued and Quoted Options as at 31 December 2011:
Number Numb Exercis Expiry Date Lapsed
Issued er e Price Since End
Quot of
ed quarter
7,000,000 - A$1.25 30 September -
250,000 - A$2.05 2012 -
1,000,000 - A$1.90 1 May 2012 -
600,000 - A$1.25 30 September -
1,650,000 - A$3.25 2012 -
818,500 - A$1.90 1 May 2012 -
5,000,000 - A$2.74 31 July 2012 -
2,500,000 - A$1.20 30 June 2014 -
1* - GBP0.60 30 November -
1,441,061 - A$1.40 2014 -
9 November 2015
1 November 2014
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
UNQUOTE
31 January 2011
Sponsor
J.P. Morgan Equities
Date: 31/01/2012 08:44:07 Produced by the JSE SENS Department.
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