KIMBER RESOURCES, INC. 
By
Vancouver, British Columbia - Kimber Resources Inc. (TSX:KBR) has announced its financial results for the three months ended September 30, 2013. Kimber's condensed consolidated interim financial statements and management's discussion & analysis for the three months ended September 30, 2013 are now available on SEDAR at www.sedar.com .
As at September 30, 2013, Kimber had a working capital deficiency of $5.08 million (June 30, 2013 - deficiency $3.69 million), which includes $121,651 (June 30, 2013 - $897,112) in cash and cash equivalents and a short term loan of $4.83 million from Sprott Resource Lending Partnership ("SRLP"). The face value of the short term loan is $5.0 million offset by deferred financing costs of $0.17 million. Kimber's net loss for the three months ended September 30, 2013 was $1.38 million or $0.02 per common share compared with a net loss of $0.80 million or $0.01 loss per share for the three months ended September 30, 2012.
Kimber's equity was $13.44 million at September 30, 2013, a decrease of $1.4 million from $14.84 million at June 30, 2013. The decrease is due to the net loss during the quarter.
"On September 25, 2013 Kimber entered into a support agreement with the Invecture Group, S.A. de C.V. in respect of a take-over offer to acquire all of the outstanding common shares of Kimber for C$0.15 in cash per share," said Gordon Cummings, President and CEO of Kimber Resources. "The Invecture take-over offer provided $2 million of cash from an initial placement closed on October 2, 2013 and provides liquidity to shareholders through a cash offer at a significant premium to the spot price prior to the deal announcement. The Invecture offer has the unanimous support of our Board of Directors and we recommend that shareholders tender their shares."
Selected information
The following information is for the three months ended September 30, 2013 and 2012:
For the threemonths ended | ||||
September 30, 2013 | September 30, 2012 | |||
Results of operations | ||||
Net loss | $ | (1,380,022) | $ | (798,120) |
Net loss per share - basic and diluted | $ | (0.02) | $ | (0.01) |
Net cash used in operations | $ | (625,563) | $ | (434,991) |
Net cash used in investing activities | $ | 1 | $ | (656,587) |
Net cash (used)/providedbyfinancing activities | $ | (151,233) | $ | 2,788,334 |
The following information is as at September 30, 2013with comparable information at June 30, 2013.
September 30, | June30, | |||
2013 | 2013 | |||
Financial position | ||||
Cashand cash equivalents | $ | 121,651 | $ | 897,112 |
Current assets | 409,633 | 1,315,116 | ||
Mineralinterests | 18,000,000 | 18,000,000 | ||
Total assets | 18,920,950 | 19,847,694 | ||
Current liabilities | 5,485,938 | 5,007,360 | ||
Total liabilities | 5,485,938 | 5,007,360 | ||
Shareholders' equity | 13,435,012 | 14,840,334 | ||
Working capital | $ | (5,076,305) | $ | (3,692,244) |
The net losses for Kimber forthe three monthsended September 30,2013and 2012include non-cash (recoveries) or charges for share-basedcompensation of $(47,300)in 2013and$126,262in 2012.
About Kimber
Kimber owns mineral concessions covering in excess of 39,000 hectares in the prospective Sierra Madre gold-silver belt, including the Monterde property, where three gold-silver mineral resources have already been defined. The most advanced of these, the Carmen deposit, has been extensively drilled and has undergone detailed geologic modeling. The completion of the Updated Preliminary Economic Assessment for Monterde in 2011 represented a significant step forward for Kimber and supported further evaluation and more advanced economic studies at the Monterde deposits, with the recently updated mineral resource estimate for the Carmen deposit representing a component of those activities.
FOR FURTHER INFORMATION PLEASE CONTACT:
Renee Brickner, BSc (Hons) Geol.
Vice President, Investor Relations
or
Gordon Cummings, CA
President and CEO
Forward Looking Statements
Statements in this release may be viewed as forward-looking statements, including statements regarding the anticipated completion of the Offering, andthe further development, expected results and future economic assessments of the Monterde project. When used in this press release, the words "expect", "intend", "hopes", "should", "believe", "may", "will", "if", "anticipates", "potential for", "potentially", "suggests" and similar expressions are intended to identify forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, among others, uncertainty of mineral reserve and resource estimates, risks relating to fluctuations in the price of gold, the inherently hazardous nature of mining-related activities, potential effects on Kimber's operations of environmental regulations in the countries in which it operates, risks due to legal proceedings, risks relating to political and economic instability in certain countries in which it operates, risks related to the use of inferred mineral resources in the preliminary assessment, and uncertainty of being able to raise capital on favourable terms or at all, as well as those risk factors discussed under the headings "Cautionary Note Regarding Forward-Looking Statements" and "Risk Factors" in Kimber's latest Annual Information Form as filed on SEDAR. There are no assurances the Company can fulfill such forward-looking statements and the Company undertakes no obligation to update such statements, except as required by law. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company's control.
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