Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

+Rule 5.5

Appendix 5B

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

AVENIRA LIMITED

ABN

Quarter ended ("current quarter")

48 116 296 541

30 June 2019

Consolidated statement of cash flows

Current quarter

Year to date (12

$A'000

months)

$A'000

1.

Cash flows from operating activities

1.1

Receipts from customers

-

-

1.2

Payments for

(a)

exploration & evaluation

(163)

(676)

(b)

development (i)

(661)

(3,083)

(c)

production

-

-

(d)

staff costs

(295)

(1,501)

(e) administration and corporate costs

(433)

(2,088)

1.3

Dividends received (see note 3)

-

-

1.4

Interest received

-

44

1.5

Interest and other costs of finance paid

-

-

1.6

Income taxes paid

-

-

1.7

Research and development refunds

-

-

1.8

Other (provide details if material) - Net VAT

-

-

refund

1.9

Net cash from / (used in) operating

(1,552)

(7,304)

activities

  1. Includes receipts from sale of shipments

2.

Cash flows from investing activities

2.1

Payments to acquire:

(a) property, plant and equipment

-

(17)

(b)

tenements (see item 10)

-

-

(c)

investments

-

-

(d)

other non-current assets

-

-

+ See chapter 19 for defined terms

Page 1

1 September 2016

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

Consolidated statement of cash flows

Current quarter

Year to date (12

$A'000

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

-

(137)

2.4

Dividends received (see note 3)

-

-

2.5

Other (provide details if material)

-

15

2.6

Net cash from / (used in) investing

-

(139)

activities

3.

Cash flows from financing activities

3.1

Proceeds from issues of shares

-

2,800

3.2

Proceeds from issue of convertible notes

-

-

3.3

Proceeds from exercise of share options

-

-

3.4

Transaction costs related to issues of

-

(61)

shares, convertible notes or options

3.5

Proceeds from borrowings

1,151

2,420

3.6

Repayment of borrowings

(510)

(835)

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

641

4,324

activities

4. Net increase / (decrease) in cash and cash equivalents for the period

4.1

Cash and cash equivalents at beginning of

1,310

3,679

period

4.2

Net cash from / (used in) operating

(1,552)

(7,304)

activities (item 1.9 above)

4.3

Net cash from / (used in) investing activities

(116)

(255)

(item 2.6 above)

4.4

Net cash from / (used in) financing activities

641

4,324

(item 3.10 above)

4.5

Effect of movement in exchange rates on

18

(143)

cash held

4.6

Cash and cash equivalents at end of

301

301

period

+ See chapter 19 for defined terms

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1 September 2016

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

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

Current quarter

Previous quarter

$A'000

$A'000

5.1

Bank balances

301

1,310

5.2

Call deposits

-

-

5.3

Bank overdrafts

-

-

5.4

Other (provide details)

-

-

5.5

Cash and cash equivalents at end of

301

1,310

quarter (should equal item 4.6 above)

6.

Payments to directors of the entity and their associates

Current quarter

$A'000

6.1

Aggregate amount of payments to these parties included in item 1.2

143

6.2

Aggregate amount of cash flow from loans to these parties included

Nil

in item 2.3

6.3 Include below any explanation necessary to understand the transactions included in items 6.1 and 6.2

Item 6.1 includes aggregate amounts paid to directors including salary, Director fees, consulting fees and superannuation.

7.

Payments to related entities of the entity and their

Current quarter

associates

$A'000

7.1

Aggregate amount of payments to these parties included in item 1.2

Nil

7.2

Aggregate amount of cash flow from loans to these parties included

Nil

in item 2.3

7.3 Include below any explanation necessary to understand the transactions included in items 7.1 and 7.2

N/A

+ See chapter 19 for defined terms

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1 September 2016

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

8. Financing facilities available

Add notes as necessary for an understanding of the position

  1. Loan facilities (i)
  2. Credit standby arrangements (ii)
  3. Other (please specify) (iii) (iv)

Total facility amount

Amount drawn at

at quarter end

quarter end

$A'000

$A'000

4,648

4,648

Nil

Nil

5,024

2,467

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.

  1. 5-yearterm loan provided by CBAO Groupe Attijariwafa Bank on 31 December 2016 of XOF 2 billion at 6.75% interest rate. No principal or interest repayments for first twelve months. Subsequently a further twelve-month deferral on principal repayments until 31 December 2018 has been agreed with CBAO. The loan is secured over all of the assets of Gadde Bissik Phosphate Operations SUARL, the 80% owned subsidiary of Avenira Limited.
  2. Trade finance facility provided by CBAO Groupe Attijariwafa Bank on 31 December 2016 of XOF 2 billion at 7.00% interest rate. The facility is unsecured.
  3. Twleve month convertible bridge loans provided by Agrifos Partners LLC for US$250,000, Agrifields DMCC for US$250,000 and Tablo Corporation for US$400,000 on 15 March 2019 at 10% interest rate. Subject to shareholder approval, each bridge loan may be converted into fully-paid ordinary Avenira shares ('Shares') at any time by a Lender at the 15 trading days volume weighted average ASX Share price ('15-day VWAP') subject to a $0.008 floor and a $0.024 ceiling, or by Avenira, at the 15-day VWAP subject to a $0.001 floor and a $0.024 ceiling, at any time with the Lender's prior consent or during the month prior to maturity (subject to certain conditions). The loans are unsecured.
  4. Unsecured bridge loans provided by Agrifos Partners LLC, Agrifields DMCC and Tablo Corporation for US$2,600,000 to 80% subsidiary Baobab Mining and Chemicals Corporations SA on 16 May 2019 at 10% interest rate. The loans are unsecured and have a maturity date of 30 September 2019.

9.

Estimated cash outflows for next quarter

$A'000

9.1

Exploration and evaluation

40

9.2

Development

1,970

9.3

Production

-

9.4

Staff costs

415

9.5

Administration and corporate costs

625

9.6

Other (provide details if material) - Principal and

275

interest repayments of CBAO loan

9.7

Total estimated cash outflows

3,325

* Estimated cash outflows will be paid from draw downs on the Major Shareholder loans.

+ See chapter 19 for defined terms

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1 September 2016

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

10.

Changes in

Tenement reference

Nature of

Interest at

Interest

tenements

and location

interest

beginning

at end of

(items 2.1(b) and

of quarter

quarter

2.2(b) above)

10.1

Interests in mining

Nil

-

-

-

tenements and

petroleum tenements

lapsed, relinquished

or reduced

10.2

Interests in mining

Nil

-

-

-

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 July 2019

(Director/Company secretary)

Print name:

Rod Wheatley

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

Page 5

1 September 2016

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Avenira Limited published this content on 16 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 August 2019 02:06:04 UTC