FINDERS RESOURCES LIMITED Appendix 5B
+Rule 5.5
Mining exploration entity and oil and gas exploration entity quarterly report
Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/13, 01/09/16
Name of entity
Finders Resources Limited
ABN
82 108 547 413
Quarter ended ("current quarter")
31 December 2017
Consolidated statement of cash flows
Current quarter
$A'000
Year to date (12 months)
$A'000
1. | Cash flows from operating activities | ||
1.1 | Receipts from customers | 52,859 | 206,880 |
1.2 | Payments for | ||
(a) exploration & evaluation | - | - | |
(b) development | (1,654) | (9,011) | |
(c) production | (18,081) | (102,226) | |
(d) staff costs | (3,215) | (15,714) | |
(e) administration and corporate costs | (869) | (2,842) | |
1.3 | Dividends received (see note 3) | - | - |
1.4 | Interest received | - | - |
1.5 | Interest and other costs of finance paid | (1,684) | (7,496) |
1.6 | Income taxes paid | - | - |
1.7 | Research and development refunds | - | - |
1.8 | Other (provide details if material) | - | - |
1.9 | Net cash from / (used in) operating | 27,356 | 69,591 |
activities | |||
2. | Cash flows from investing activities | ||
2.1 | Payments to acquire: | ||
(a) property, plant and equipment | (792) | (3,042) | |
(b) tenements (see item 10) | - | - | |
(c) investments | - | - | |
(d) other non-current assets | - | - | |
Page 1 |
Consolidated statement of cash flows
Current quarter
$A'000
Year to date (12 months)
$A'000
2.2 | Proceeds from the disposal of: | ||
(a) property, plant and equipment | - | - | |
(b) tenements (see item 10) | - | - | |
(c) investments | - | - | |
(d) other non-current assets | - | - | |
2.3 | Cash flows from loans to other entities | - | - |
2.4 | Dividends received (see note 3) | - | - |
2.5 | Other (provide details if material) | - | - |
2.6 | Net cash from / (used in) investing | (792) | (3,042) |
activities | |||
3. | Cash flows from financing activities | ||
3.1 | Proceeds from issues of shares | - | - |
3.2 | Proceeds from issue of convertible notes | - | - |
3.3 | Proceeds from exercise of share options | - | - |
3.4 | Transaction costs related to issues of | - | - |
shares, convertible notes or options | |||
3.5 | Proceeds from borrowings | - | - |
3.6 | Repayment of borrowings | (9,583) | (38,915) |
3.7 | Transaction costs related to loans and | - | (1,031) |
borrowings | |||
3.8 | Dividends paid | - | - |
3.9 | Other (Net Hedge Payments) | (6,766) | (17,033) |
3.10 | Net cash from / (used in) financing | (16,349) | (56,979) |
activities | |||
4. | Net increase / (decrease) in cash and | ||
cash equivalents for the period | |||
4.1 | Cash and cash equivalents at beginning of | ||
period | 3,578 | 4,879 | |
4.2 | Net cash from / (used in) operating | 27,356 | 69,591 |
activities (item 1.9 above) | |||
4.3 | Net cash from / (used in) investing activities | (792) | (3,042) |
(item 2.6 above) | |||
4.4 | Net cash from / (used in) financing activities | (16,349) | (56,979) |
(item 3.10 above) | |||
4.5 | Effect of movement in exchange rates on | (27) | (683) |
cash held | |||
4.6 | Cash and cash equivalents at end of | 13,766 | 13,766 |
period | |||
Page 2 |
5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts
5.1 Bank balances
5.2 Call deposits
5.3 Bank overdrafts
Current quarter
$A'000
Previous quarter
$A'000
5.4 Other (Debt Service Reserve Account)
5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above)
2,234 - - 11,532 13,766
3,578 - - - 3,578
6. Payments to directors of the entity and their associates
6.1 Aggregate amount of payments to these parties included in item 1.2
6.2 Aggregate amount of cash flow from loans to these parties included in item 2.3
188 -
6.3 Include below any explanation necessary to understand the transactions included in items 6.1 and 6.2
7. Payments to related entities of the entity and their associates
7.1 Aggregate amount of payments to these parties included in item 1.2
7.2 Aggregate amount of cash flow from loans to these parties included in item 2.3
- -
7.3 Include below any explanation necessary to understand the transactions included in items 7.1 and 7.2
8.
Financing facilities available | Total facility amount | Amount drawn at |
Add notes as necessary for an | at quarter end | quarter end |
understanding of the position | $A'000 | $A'000 |
8.1 | Loan facilities | 107,566 | 77,457 |
8.2 | Credit standby arrangements | - | - |
8.3 | Other (please specify) | - | - |
8.4 |
Include below a description of each facility above, including the lender, interest rate and whether it is secured or unsecured. If any additional facilities have been entered into or are proposed to be entered into after quarter end, include details of those facilities as well.
The Group has a Senior Secured Project Finance Facility Agreement with a syndicate of banks consisting of a term loan facility (US$78.0M) and a cost overrun facility (US$6.0M). Interest rates are LIBOR plus a margin, 5.50% for the term loan facility and 6.25% for the cost overrun facility.
9. | Estimated cash outflows for next quarter | $A'000 |
9.1 | Exploration and evaluation | - |
9.2 | Development | (2,000) |
9.3 | Production | (20,132) |
9.4 | Staff costs | (3,650) |
9.5 | Administration and corporate costs | (780) |
9.6 | Other (provide details if material) | |
Interest and other costs of finance paid | (1,333) | |
Repayment of borrowings | (10,853) | |
Net hedge payments | (5,898) | |
9.7 | Total estimated cash outflows | (44,646) |
10. | Interest at | Interest |
beginning | at end of | |
of quarter | quarter | |
10.1 | ||
10.2 | ||
Page 4 |
Changes in tenements (items 2.1(b) and 2.2(b) above)Tenement reference and locationNature of interest
Interests in mining tenements and petroleum tenements lapsed, relinquished or reduced
Interests in mining tenements and petroleum tenements acquired or increased
Compliance statement
1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
2 This statement gives a true and fair view of the matters disclosed.
Sign here:
Date: 31 January 2018
(Director/Company secretary)
Print name: Barry Cahill
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 that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.
2. If this quarterly report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.
3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.
+ See chapter 19 for defined terms
1 September 2016
Finders Resources Limited published this content on 31 January 2018 and is solely responsible for the information contained herein.
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