Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
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, 01/05/2013
Name of entity
THE WATERBERG COAL COMPANY LIMITED
ABN Quarter ended ("current quarter")
64 065 480 453 31 December 2014
Consolidated statement of cash flows
Cash 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 (provide details if material)
Net Operating Cash Flows
+ See chapter 19 for defined terms.
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1.13 Total operating and investing cash flows (brought forward) | (5869) | (7573) |
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 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 (provide details if material) Fundraising costs Net financing cash flows | - - - - - - | - - - - - (187) |
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 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 (provide details if material) Fundraising costs Net financing cash flows | (0) | (187) |
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 | (5869) 6836 68 | (7760) 8606 189 |
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 | 1035 | 1035 |
Payments to directors of the entity, associates of the directors, related entities of the entity and associates of the related entities
1.23 Aggregate amount of payments to the parties included in item 1.2
1.24 Aggregate amount of loans to the parties included in item 1.10
Current quarter
$A'000
33
70
1.25 Explanation necessary for an understanding of the transactions
Payments for Directors fees and consultants, administration, accounting and secretarial staff
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
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
+ See chapter 19 for defined terms.
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Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
Financing facilities available
Add notes as necessary for an understanding of the position.
3.1 Loan facilities
3.2 Credit standby arrangements
Estimated cash outflows for next quarter
4.1 Exploration and evaluation
4.2 Development
4.3 Production
4.4 Administration
Reconciliation of cash
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.
*Security deposit on $35 million convertible note facility released and applied to accrued interest and other costs of finance.
The company also holds listed securities to the value of approximately AU$ 589,000 as at the date of this report.
+ See chapter 19 for defined terms.
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Changes in interests in mining tenements and petroleum tenements
6.1 Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed
6.2 Interests in mining tenements and petroleum 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.
7.5 +Convertible debt securities (description)
+ See chapter 19 for defined terms.
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7.6 Changes during quarter
(a) Increases through issues (b) Decreases through securities matured, converted
7.12 Unsecured notes (totals 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 5).
2 This statement does /does not* (delete one) give a true and fair view of the matters disclosed.
Sign here: ............................................................ Date: 30 January 2015 (Director/Company secretary)
E L Boyd.........................................................
+ See chapter 19 for defined terms.
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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 and petroleum 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 or petroleum 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 6: Exploration for and Evaluation of
Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.
5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting 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.
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Appendix 1 - Interests in mining tenements held
Tenement table
WCC has an interest in the following Exploration and Mining Licences. Licences are located in South Australia:
Property Name | Tenement | Interest at Beginning and End of Quarter | Status |
Lyons | EL 5221 | 100% | Exploration Licence |
Glenloth | EL 5397 | 100% | Exploration Licence. |
Claypan Dam Note:As announced to the market on 24 November 2014 the Company has entered into an agreement with Apollo Minerals Limited for the sale of 100% of this tenement. The transfer documentation was lodged with DMITRE in January 2015. | EL 4445 | 100% | Exploration Licence |
The Company's interest in the Waterberg Coal Project, located in South Africa:
Properties | Right under which the properties are held | Relevant Joint Venture | Holder | Interest at Beginning and End of Quarter | Issue Date | Expiry Date |
Vetleegte | Vetleegte Prospecting Right | First Joint Venture | Uzalile Joint Venture (Sekoko Resources and Uzalile) | 37.39% | Granted New Order Prospectin g Right No. 651/2006, on 19/10/06 | Renewal lodged 19 September 2011 and prior to the expiry date. Section 18(5) of the MPRDA provides that prospecting right in respect of which an application for renewal has been lodged will remain in force until such time as the renewal application has been granted or refused. |
Olieboomsfont ein | Duikerfontein Prospecting Right | First Joint Venture | Sekoko Coal | 37.39% | Granted New Order Prospectin g Right No. 681/2007, on 13/10/05. Renewal on 3 July | 3 July 2016 |
+ See chapter 19 for defined terms.
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2013 | ||||||
Duikerfontein | Duikerfontein Prospecting Right | First Joint Venture | Sekoko Coal | 37.39% | Granted New Order Prospectin g Right No. 681/2007, on 13/10/05. Renewal on 3 July 2013 | 3 July 2016 |
Swanepoelpan | Duikerfontein Prospecting Right | First Joint Venture | Sekoko Coal | 37.39% | Granted New Order Prospectin g Right No. 681/2007, on 13/10/05 | 3 July 2016 |
Smitspan | Mining Right | Second Joint Venture | Sekoko Coal | 37.39% | Granted New Order Mining Right No. 22/2011, on 17/09/11 | 16/09/2041 |
Massenberg | Mining Right | Second Joint Venture | Sekoko Coal | 37.39% | Granted New Order Mining Right No. 22/2011, on 17/09/11 | 16/09/2041 |
Minnasvlakte | Mining Right | Second Joint Venture | Sekoko Coal | 37.39% | Granted New Order Mining Right No. 22/2011, on 17/09/11 | 16/09/2041 |
Hooikraal | Mining Right | Second Joint Venture | Sekoko Coal | 37.39% | Granted New Order Mining Right No. 22/2011, on 17/09/11 | 16/09/2041 |
+ See chapter 19 for defined terms.
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