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, 01/05/13, 01/09/16
Name of entity
ZAMIA METALS LTD
ABN Quarter ended ("current quarter")
73 120 348 683
December 2016
Consolidated statement of cash flows | Current quarter $A'000 | Year to date (6 months) $A'000 | |
1. | Cash flows from operating activities | 5 | 24 |
1.1 | Receipts from customers | ||
1.2 | Payments for | ||
(a) exploration & evaluation | (14) | (37) | |
(b) development | - | - | |
(c) production | - | - | |
(d) staff costs | (7) | (9) | |
(e) administration and corporate costs | (225) | (269) | |
1.3 | Dividends received (see note 3) | - | - |
1.4 | Interest received | - | - |
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) | - | - |
1.9 | Net cash from / (used in) operating | (241) | (291) |
activities |
Cash flows from investing activities
Payments to acquire:
property, plant and equipment - -
tenements (see item 10) - -
investments - -
other non-current assets - -
Cash flows from financing activities
Proceeds from issues of shares
Proceeds from issue of convertible notes
Proceeds from exercise of share options
Transaction costs related to issues of shares, convertible notes or options
Proceeds from borrowings
Repayment of borrowings
Transaction costs related to loans and borrowings
Dividends paid
Other Share - application funds received
Net increase / (decrease) in cash and cash equivalents for the period
Cash and cash equivalents at beginning of period
Net cash from / (used in) operating activities (item 1.9 above)
Net cash from / (used in) investing activities (item 2.6 above)
Net cash from / (used in) financing activities (item 3.10 above)
Effect of movement in exchange rates on cash held
Payments to directors of the entity and their associates
Aggregate amount of payments to these parties included in item 1.2
Aggregate amount of cash flow from loans to these parties included in item 2.3
Include below any explanation necessary to understand the transactions included in items 6.1 and 6.2
Current quarter
$A'000
-
-
Payments to related entities of the entity and their associates
Aggregate amount of payments to these parties included in item 1.2
Aggregate amount of cash flow from loans to these parties included in item 2.3
Include below any explanation necessary to understand the transactions included in items 7.1 and 7.2
Total facility amount at quarter end
$A'000
Amount drawn at quarter end
$A'000
750
750
-
-
250
250
Financing facilities available Add notes as necessary for an understanding of the position
Loan facilities
Credit standby arrangements
Other - Convertible loan
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.
On 22 September 2014 a loan of $400,000 was provided by Brownstone international Pty Ltd, an entity associated with Director Qiang Chen which, was drawn down on 10 October 2014 with an expiry date of 31March 2015 and has been subsequently extended to 31 December 2016;
On 22 September 2014 a loan of $200,000 was provided by Qinghai Genlid Mining Investment and Management Co, an entity associated with Dr Jiniu Deng, which was drawn down on 10 October 2014 with an expiry date of 31 March 2015 and has been subsequently extended to 31 December 2016;
On 22 July 2015 a loan of $100,000 was provided by Brownstone international Pty Ltd, an entity associated with Director Qiang Chen, which was drawn down on 27 July 2015 with an expiry date of 31 January 2016 and has been subsequently extended to 31 December 2016;
On 10 September 2015 a loan of $20,000 was provided by SSR Trading Pty Ltd, an entity associated with Director Andrew Skinner, for a term of three months and which was drawn down on 22 September 2015; and with an expiry date of 30 June 2016 and has been subsequently extended to 31 December 2016;
On 10 September 2015 a loan of$30,000 was provided by Brownstone international Pty Ltd, an entity associated with Director Qiang Chen and which was drawn down on 23 September 2015 with an expiry date of 31 March 2016 and has been subsequently extended to 31 December 2016.
Consolidated statement of cash flows | Current quarter $A'000 | Year to date (6 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 | - | - |
2.4 | Dividends received (see note 3) | - | - |
2.5 | Other (provide details if material) | - | - |
2.6 | Net cash from / (used in) investing | - | - |
activities |
3.10 Net cash from / (used in) financing activities | - 250 - - - - - - 216 | - 250 - 216 |
466 | 466 |
4.6 Cash and cash equivalents at end of period | 2 (241) - 466 - | 52 (291) - 466 - |
227 | 227 |
As announced on 11 October 2016 Zamia has raised $250,000 in a debt facility which will be converted into ordinary shares (subject to various conditions) that will provide working capital to be used primarily to meet costs related to the transaction with Kirkham. Further details are included in the Quarterly Activities 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 $A'000 | Previous quarter $A'000 |
5.1 | Bank balances | 227 | . 2 |
5.2 | Call deposits | - | - |
5.3 | Bank overdrafts | - | - |
5.4 | Other (provide details) | - | - |
5.5 | Cash and cash equivalents at end of | 227 | 2 |
quarter (should equal item 4.6 above) |
Current quarter $A'000 |
- |
- |
The following unsecured loans have been provided to the Company by Director related entities:-
These loans are payable in cash or in shares at the sole discretion of the Company. Interest accrued and not paid on these loans at 31 September 2016 is $108,377.
As announced on 11 October 2016 Zamia The Company has agreed to issue Convertible Bonds (which are only convertible subject to shareholder approval) for $250,000 that will provide working capital to be used primarily to meet costs related to the transaction with Kirkham. Gleneagles Securities (Aust) Pty Limited, its clients and parties introduced by Kirkham have participated in the Convertible Bonds.
The Convertible Bonds have a term of 12 months, attract interest at 12% per annum and are to be converted into ordinary shares together with capitalised interest thereon as a pre-condition of the Kirkham transaction proceeding. Such conversion will be subject to approval by shareholders and in accordance with the ASX Listing Rules and Corporations Act and conducted at a price of $0.01 per share (post-consolidation). After conversion such shares issued will be assessed for escrow conditions by the ASX. The Company may, with notice, redeem the convertible bonds and the holder of the bonds
Further details are included in the Quarterly Activities Report.
9. | Estimated cash outflows for next quarter | $A'000 |
9.1 | Exploration and evaluation | 18 |
9.2 | Development | - |
9.3 | Production | - |
9.4 | Staff costs | - |
9.5 | Administration and corporate costs | 96 |
9.6 | Other (provide details if material) | |
9.7 | Total estimated cash outflows | 114 |
Zamia Metals Limited published this content on 30 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 29 January 2017 21:55:05 UTC.
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