For personal use only
Rule 5.5
Appendix 5B
Mining exploration entity or oil and gas exploration entity
quarterly cash flow report
Name of entity
Gascoyne Resources Limited | |
ABN | Quarter ended ("current quarter") |
57 139 522 900 | 31 December 2021 |
Consolidated statement of cash flows | Current quarter | Year to date (6 | ||
$A'000 | months) | |||
$A'000 | ||||
1. | Cash flows from operating activities | |||
1.1 | Receipts from customers | 41,234 | 88,275 | |
1.2 | Payments for | |||
(a) | exploration & evaluation | - | - | |
(b) | development | - | - | |
(c) | production | (41,950) | (73,528) | |
(d) | staff costs | (1,381) | (2,409) | |
(e) administration and corporate costs | (904) | (1,126) | ||
1.3 | Dividends received (see note 3) | - | - | |
1.4 | Interest received | 1 | 1 | |
1.5 | Interest and other costs of finance paid | (353) | (759) | |
1.6 | Income taxes paid | - | - | |
1.7 | Government grants and tax incentives | - | - |
1.8 Other (royalties paid, net of scrap metal
sales) | (841) | (1,759) | |
1.9 | Net cash from / (used in) operating | ||
activities | (4,194) | 8,695 |
Receipts from customers for the Year to Date include an amount of $3.323 million from the sale of gold made on 29 June 2021. This amount was scheduled to be received by the Company on 30 June 2021, however, due to delays by the remitting bank, the proceeds were received on 1 July 2021.
Administration and corporate costs for the Year to Date include an initial settlement amount of costs from the Habrok proceedings. Terms of the settlement are confidential between the parties.
Operating activities include post-acquisition cash flows of the Firefly Resources Limited group from 10 November 2021 which was acquired on this date.
ASX Listing Rules Appendix 5B (17/07/20) | Page 1 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report
personal use only
Consolidated statement of cash flows
2. Cash flows from investing activities
2.1 | Payments to acquire: | |
(a) | entities | |
(b) | tenements | |
(c) | property, plant and equipment | |
(d) | exploration & evaluation | |
(e) | investments | |
(f) | other non-current assets | |
2.2 | Proceeds from the disposal of: | |
(a) | entities | |
(b) | tenements | |
(c) | property, plant and equipment | |
(d) | investments | |
(e) | 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) |
- Payment for acquisition of subsidiary (net of cash acquired)
- Transfer (to) / from security deposits
2.6 Net cash from / (used in) investing activities
Current quarter | Year to date (6 |
$A'000 | months) |
$A'000 |
(2,849) | (7,285) |
(956) | (2,121) |
(382) | (382) |
- | - |
(4,187) | (9,788) |
For
Investing activities include post-acquisition cash flows of the Firefly Resources Limited group from 10 November 2021 which was acquired on this date.
ASX Listing Rules Appendix 5B (17/07/20) | Page 2 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report
only
Consolidated statement of cash flows
3. Cash flows from financing activities
- Proceeds from issues of equity securities (excluding convertible debt securities)
- Proceeds from issue of convertible debt securities
Current quarter | Year to date (6 |
$A'000 | months) |
$A'000 |
- | - |
20,000 | 20,000 |
For personal use
3.3 | Proceeds from exercise of options | - | - |
3.4 Transaction costs related to issues of
equity securities or convertible debt | (455) | (455) | |
securities | |||
3.5 | Proceeds from borrowings | - | - |
3.6 | Repayment of borrowings | (11,335) | (15,613) |
3.7 Transaction costs related to loans and
borrowings | - | - | |
3.8 | Dividends paid | - | - |
3.9 | Other (provide details if material) | - | - |
3.10 | Net cash from / (used in) financing | 8,210 | 3,932 |
activities |
4. Net increase / (decrease) in cash and cash equivalents for the period
4.1 | Cash and cash equivalents at beginning | 26,458 | 23,448 |
of period |
4.2 Net cash from / (used in) operating
activities (item 1.9 above) | (4,194) | 8,695 | |
4.3 | Net cash from / (used in) investing | ||
activities (item 2.6 above) | (4,187) | (9,788) | |
4.4 | Net cash from / (used in) financing | ||
activities (item 3.10 above) | 8,210 | 3,932 | |
4.5 | Effect of movement in exchange rates on | ||
cash held | - | - | |
4.6 | Cash and cash equivalents at end of | ||
period | 26,287 | 26,287 |
ASX Listing Rules Appendix 5B (17/07/20) | Page 3 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
For personal use only
Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report
5. | Reconciliation of cash and cash | Current quarter | Previous quarter |
equivalents | $A'000 | $A'000 | |
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 | 26,287 | 26,458 |
5.2 | Call deposits | - | - |
5.3 | Bank overdrafts | - | - |
5.4 | Other (provide details) | - | - |
5.5 | Cash and cash equivalents at end of | ||
quarter (should equal item 4.6 above) | 26,287 | 26,458 |
6. | Payments to related parties of the entity and their | Current quarter |
associates | $A'000 | |
6.1 | Aggregate amount of payments to related parties and their | 668 |
associates included in item 1* | ||
6.2 | Aggregate amount of payments to related parties and their | - |
associates included in item 2 |
Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments
* Payments made to Directors for salary and director fees
ASX Listing Rules Appendix 5B (17/07/20) | Page 4 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report
only
7. Financing facilities
Note: the term "facility' includes all forms of financing arrangements available to the entity.
Add notes as necessary for an understanding of the sources of finance available to the entity.
7.1 Loan facilities
7.2 Credit standby arrangements
7.3 Other (please specify)
7.4 Total financing facilities
Total facility | Amount drawn at |
amount at quarter | quarter end |
end | $A'000 |
$A'000 | |
- | - |
- | - |
20,000 | 20,000 |
20,000 | 20,000 |
For personal use
7.5 | Unused financing facilities available at quarter end | - |
7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well.
7.1 On 20 December 2021, the Company signed a $20.0 million convertible note facility (CNF) with certain funds controlled and managed by major shareholder Deutsche Balaton AG (Balaton Group). The CNF takes the form of a debt facility until such point in time that shareholders have approved the conversion rights. The CNF is unsecured, has a 2-year term with a fixed interest rate of 18.0% p.a. payable 6-monthly in arrears. The CNF consists of two tranches of $10.0 million each, with first tranche convertible into fully paid ordinary shares of Gascoyne at the election of the Balaton Group at $0.30 per share at any time and the second convertible by the Company or the Balaton Group depending on various scenarios as disclosed in the ASX release on 20 December 2021.
Following the receipt of funds under the CNF on 22 December 2021, the Company repaid in full the remaining balance of $10.3 million owing under its three-year secured Syndicated Facility Agreement with Investec Bank plc.
8. | Estimated cash available for future operating activities | $A'000 |
8.1 | Net cash from / (used in) operating activities (item 1.9) | (5,003) |
8.2 | (Payments for exploration & evaluation classified as investing | (956) |
activities) (item 2.1(d)) | ||
8.3 | Total relevant outgoings (Item 8.1 + Item 8.2) | (5,959) |
8.4 | Cash and cash equivalents at quarter end (Item 4.6) | 26,287 |
8.5 | Unused finance facilities available at quarter end (Item 7.5) | - |
8.6 | Total available funding (Item 8.4 + Item 8.5) | 26,287 |
8.7 | Estimated quarters of funding available (Item 8.6 divided by | 4.41 |
Item 8.3) | ||
Note: if the entity has reported positive relevant outgoings (i.e. a net cash inflow) in | ||
item 8.3, answer item 8.7 as "N/A". Otherwise, a figure for the estimated quarters of | ||
funding available must be included in item 8.7. |
8.8 If Item 8.7 is less than 2 quarters, please provide answers to the following questions:
8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?
N/A
ASX Listing Rules Appendix 5B (17/07/20) | Page 5 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
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Gascoyne Resources Ltd. published this content on 28 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 January 2022 01:05:02 UTC.