REVIEW OF OPERATIONS FOR QUARTER ENDED 31 DECEMBER 2012
ANNOUNCEMENT 31 January 2013
Ram Resources Limited ("Ram" or the "Company") is pleased to provide its review of operations for the quarter ending 31 December 2012.
OPERATIONS
During the quarter, Ram was focused on seeking out and securing projects and opportunities that are complementary to Ram's existing project portfolio.
FRASER RANGE
On 29 October 2012 Ram announced that it had entered into a binding agreement to acquire three granted West Australian exploration licenses (the "Fraser Range Project") located 20 kilometres west of the Nova nickel copper massive sulphide discovery by Sirius Resources NL.
Please see announcement dated 29 October 2012 for further details.
MOTZFELDT
During the quarter, the Company commenced review and formulation of its 2013 work program for the Motzfedlt Project in Southern Greenland. In addition, the Company has been in preliminary discussions regarding a potential farm-in arrangement with respect to this project.
CORPORATE Convertible Note
During the quarter, the Company converted a total of $237,000 of its Convertible Note ($600,000 face value) and a total of 135,633,173 shares were issued. Post the end of the quarter, a further $55,000 of the Convertible Note was converted into 32,010,593 shares.
For further information please contact:
James Lumley
Executive Director
+44 7825 222 623 james.lumley
@ramresources.com.au
David Tasker / James Harris
Professional Public Relations
+618 9388 0944 david.tasker@ppr.com.au
james.harris@ppr.com.au
Appendix 5B Mining exploration entity quarterly report Appendix 5B Mining exploration entity quarterly reportIntroduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10.
Name of entity
RAM RESOURCES LIMITED
Rule 5.3
ABN Quarter ended ("current quarter")
23 108 456 444 31 DECEMBER 2012
Consolidated statement of cash flowsCash flows related to operating activities
1.1 Receipts from product sales and related debtors
1.2 Payments for (a) exploration & evaluation
(b) development
(c) production
(d) administration
1.3 Dividends received
1.4 Interest and other items of a similar nature received
1.5 Interest and other costs of finance paid
1.6 Income taxes paid
1.7 Other - Motzfeldt acquisition costs
Net Operating Cash Flows
+ See chapter 19 for defined terms.
30/9/2001 Appendix 5B Page 1
Appendix 5B Mining exploration entity quarterly report1.13 Total operating and investing cash flows (brought forward) | (130) | (298) |
Cash flows related to financing activities 1.14 Cost of share issue on conversion of notes 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings (convertible note) 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other - share issue expenses Net financing cash flows | (8) - 149 - - - | (11) - 279 - - - |
Cash flows related to financing activities 1.14 Cost of share issue on conversion of notes 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings (convertible note) 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other - share issue expenses Net financing cash flows | 141 | 268 |
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end of quarter | 11 16 (9) | (30) 57 (9) |
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end of quarter | 18 | 18 |
Current quarter
$A'000
1.23 Aggregate amount of payments to the parties included in item 1.2 18
1.24 Aggregate amount of loans to the parties included in item 1.10 -
1.25 Explanation necessary for an understanding of the transactions
Consultancy fees and directors remuneration
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
Nil
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
Nil
+ See chapter 19 for defined terms.
Appendix 5B Page 2 30/9/2001
Financing facilities availableAdd notes as necessary for an understanding of the position.
Appendix 5B Mining exploration entity quarterly report
3.1 Loan facilities
3.2 Credit standby arrangements
4.1 Exploration and evaluation
4.2 Development
4.3 Production
4.4 Administration
Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.
Changes in interests in mining tenements
6.1 Interests in mining tenements relinquished, reduced or lapsed
6.2 Interests in mining tenements acquired or increased
+ See chapter 19 for defined terms.
30/9/2001 Appendix 5B Page 3
Appendix 5B Mining exploration entity quarterly report Issued and quoted securities at end of current quarterDescription includes rate of interest and any redemption or conversion rights together with prices and dates.
7.5 +Convertible debt securities (description)
7.6 Changes during quarter
(a) Increases through issues (b) Decreases
through securities matured, converted
+ See chapter 19 for defined terms.
Appendix 5B Page 4 30/9/2001
+ See chapter 19 for defined terms.
Appendix 5B Mining exploration entity quarterly report30/9/2001 Appendix 5B Page 5
Appendix 5B Mining exploration entity quarterly report
7.8 Issued during quarter
7.9 Exercised during quarter
7.10 Expired during quarter
7.12 Unsecured notes
(totals only)
+ See chapter 19 for defined terms.
Appendix 5B Page 6 30/9/2001
Compliance statement Appendix 5B Mining exploration entity quarterly report1 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.
31 January 2013
Sign here: ............................................................ Date: ............................
(Director)
Print name: Neville Bassett
Director
Notes1 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.
== == == == ==
+ See chapter 19 for defined terms.
30/9/2001 Appendix 5B Page 7
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