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 |
- 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 | |||
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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 | Page 2 | ||
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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 | Page 3 |
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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
- Loan facilities (i)
- Credit standby arrangements (ii)
- 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.
- 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.
- 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.
- 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.
- 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 | Page 4 |
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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
- This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
- 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
- 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.
- 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.
- 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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