Rule 5.5
Appendix 5B
For personal use only
(a) entities | - | - |
(b) tenements | - | - |
(c) property, plant and equipment | - | (5) |
(d) exploration & evaluation | (234) | (616) |
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
Name of entity
AUSTRALIAN MINES LIMITED - AUZ
ABN
Quarter ended ("current quarter")
68 073 914 191
31 March 2022
Consolidated statement of cash flows | Current quarter $A'000 | Year to date (9 months) $A'000 |
| - (60) (1,557)1 - (289) (967) - - - - - 409 | - (362) (2,939) - (865) (2,286) - 1 - - - 409 |
(2,464) | (6,042) |
2.
Cash flows from investing activities
2.1
Payments to acquire or for:
1
Includes the up-front compensation payment & reimbursement of expenses to the landowners of "Lucky Downs" station in relation to the Sconi Project - Greenvale Mining Lease Compensation Agreement, which will be subject to the Greenvale mining lease (see Australian Mines' ASX announcement of 9 February 2022 for more details).
ASX Listing Rules Appendix 5B (17/07/20)
Page 1
+ See chapter 19 of the ASX Listing Rules for defined terms.
For personal use only
Consolidated statement of cash flows | Current quarter $A'000 | Year to date (9 months) $A'000 |
| - - - - - - - - - - | - (5) - - - - - - - - |
(234) | (626) |
| - - - - - - - - - | 6,500 - - (422) - - - - - |
- | 6,078 |
4. Net increase / (decrease) in cash and cash equivalents for the period | ||
| 5,749 (2,464) (234) | 3,641 (6,042) (626) |
ASX Listing Rules Appendix 5B (17/07/20)
Page 2
+ See chapter 19 of the ASX Listing Rules for defined terms.
For personal use only
Consolidated statement of cash flows | Current quarter $A'000 | Year to date (9 months) $A'000 |
| - - | 6,078 - |
3,051 | 3,051 |
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 |
| 3,051 - - - | 5,749 - - - |
3,051 | 5,749 |
6. Payments to related parties of the entity and their associates | Current quarter $A'000 |
(14) 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. Executive and non-executive directors' wages and superannuation (6.1). Executive director's salary partially allocated to exploration & evaluation for working on exploration activities (6.2). |
ASX Listing Rules Appendix 5B (17/07/20)
Page 3
+ See chapter 19 of the ASX Listing Rules for defined terms.
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.
For personal use only
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
- - - -
- - - -
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.
8.
Estimated cash available for future operating activities
$A'000
8.1 8.2
Net cash from / (used in) operating activities (item 1.9)
(2,464)
(Payments for exploration & evaluation classified as investing
(234)
activities) (item 2.1(d))
8.3 8.4 8.5 8.6
Total relevant outgoings (item 8.1 + item 8.2)
(2,698)
Cash and cash equivalents at quarter end (item 4.6)
3,051
Unused finance facilities available at quarter end (item 7.5)
-
Total available funding (item 8.4 + item 8.5)
3,051
8.7
Estimated quarters of funding available (item 8.6 divided by item 8.3)
1 Quarter
Note: if the entity has reported positive relevant outgoings (ie 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?
Answer: Yes
ASX Listing Rules Appendix 5B (17/07/20)
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+ See chapter 19 of the ASX Listing Rules for defined terms.
8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?
For personal use only
Answer: Yes, the Company taken steps to raise further cash to fund its operations, which includes mandating a leading Australian investment and financial advisory firm (unrelated to the Company or its directors / employees) to manage a capital raising on behalf of the Company.
Given:
• this investment and financial advisory firm's long track record in successfully raising funds for its clients,
• the world-class asset that is Australian Mines' Sconi Nickel-Cobalt-Scandium Project in North Queensland, Australia,
• the favourable current market conditions for nickel and cobalt focussed resource companies,
• the strong tailwind Australian Mines' is experiencing from the global shift towards clean energy and electric vehicles and the role Australian Mines can play in this shift, and
• Australian Mines' proven track record for successfully raising funds over the past 10 or more years,
the Company believes that there is a high probability that any capital raising will be successful.
8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?
Answer: Yes, Australian Mines expects to be able to continue its operations and to meet its business objectives. This is on the basis that the upcoming capital raising is anticipated to fund the Company through to Final Investment Decision (FID) for the Sconi Project.
Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered.
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. |
Date: | 29 April 2022 |
Authorised by the Board of Australian Mines Limited
(see note 4)
Notes
1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity's activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.
2. If this quarterly cash flow 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 cash flow 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.
4. If this report has been authorised for release to the market by your board of directors, you can insert here: "By the board". If it has been authorised for release to the market by a committee of your board of directors, you can insert here: "By the [name of board committee - eg Audit and Risk Committee]". If it has been authorised for release to the market by a disclosure committee, you can insert here: "By the Disclosure Committee".
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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Australian Mines Limited published this content on 28 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2022 01:41:10 UTC.