CONSOLIDATED ZINC Rule 5.5
Appendix 5B
Mining exploration entity or oil and gas exploration entity
quarterly cash flow report
Name of entity
CONSOLIDATED ZINC LIMITED
ABN | Quarter ended ("current quarter") |
27 118 554 359 | 30 SEPTEMBER 2020 |
Consolidated statement of cash flows | Current quarter | Year to date (9 | ||
$US'000 | months) | |||
$US'000 | ||||
1. | Cash flows from operating activities | |||
1.1 | Receipts from customers | 1,714 | 3,856 | |
1.2 | Payments for | |||
(a) | exploration & evaluation | (27) | (194) | |
(b) | development | - | - | |
(c) | production | (1,726) | (4,018) | |
(d) | staff costs | (111) | (462) | |
(e) | administration and corporate costs | (49) | (364) | |
1.3 | Dividends received (see note 3) | - | - | |
1.4 | Interest received | - | - | |
1.5 | Interest and other costs of finance paid | (23) | (50) | |
1.6 | Income taxes paid | - | - | |
1.7 | Government grants and tax incentives | - | - | |
1.8 | Other (VAT refunds) | 94 | 94 | |
1.9 | Net cash from / (used in) operating | (128) | (1,138) | |
activities | ||||
2. | Cash flows from investing activities | |||
2.1 | Payments to acquire or for: | |||
(a) | entities | - | - | |
(b) | tenements | - | - | |
(c) | property, plant and equipment | (113) | (134) | |
(d) | exploration & evaluation | - | - | |
(e) | investments | - | - | |
(f) | other non-current assets | - | - |
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
Consolidated statement of cash flows | Current quarter | Year to date (9 | ||
$US'000 | months) | |||
$US'000 | ||||
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) | - | - | |
2.6 | Net cash from / (used in) investing | (113) | (134) | |
activities |
3. Cash flows from financing activities
3.1 Proceeds from issues of equity securities
(excluding convertible debt securities) | - | 1,281 | |
3.2 | Proceeds from issue of convertible debt | - | - |
securities | |||
3.3 | Proceeds from exercise of options | - | - |
3.4 | Transaction costs related to issues of equity | (19) | (178) |
securities or convertible debt securities | |||
3.5 | Proceeds from borrowings | - | 261 |
3.6 | Repayment of borrowings | (113) | (250) |
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 | (132) | 1,114 |
activities |
4. Net increase / (decrease) in cash and cash equivalents for the period
4.1 | Cash and cash equivalents at beginning of | 745 | 530 |
period | |||
4.2 | Net cash from / (used in) operating | (128) | (1,138) |
activities (item 1.9 above) | |||
4.3 | Net cash from / (used in) investing activities | (113) | (134) |
(item 2.6 above) | |||
4.4 | Net cash from / (used in) financing activities | (132) | 1,114 |
(item 3.10 above) |
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
Consolidated statement of cash flows | Current quarter | Year to date (9 | |
$US'000 | months) | ||
$US'000 | |||
4.5 | Effect of movement in exchange rates on | - | - |
cash held | |||
4.6 | Cash and cash equivalents at end of | 372 | 372 |
period | |||
5. | Reconciliation of cash and cash | Current quarter | Previous quarter |
equivalents | $US'000 | $US'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 | 372 | 745 |
5.2 | Call deposits | - | - |
5.3 | Bank overdrafts | - | - |
5.4 | Other (provide details) | - | - |
5.5 | Cash and cash equivalents at end of | 372 | 745 |
quarter (should equal item 4.6 above) | |||
6. | Payments to related parties of the entity and their | Current quarter | |
associates | $US'000 | ||
6.1 | Aggregate amount of payments to related parties and their | 75 | |
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.
ASX Listing Rules Appendix 5B (17/07/20) | Page 3 |
+ 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
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 (Convertible Notes)
7.4 Total financing facilities
Total facility | Amount drawn at |
amount at quarter | quarter end |
end | $A'000 |
$A'000 | |
100 | 100 |
- | - |
1,127 | 1,127 |
1,127 | 1,127 |
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.
Convertible Notes
Convertible notes on issue as at 30 September 2020 have a principal value of A$1,127,826 and are all held by the Copulos Group.
On 2 July 2020, the Company announced it had entered into an agreement with the Copulos Group to consolidate outstanding debt under its existing notes (30 June 2020 maturity date notes) and unsecured loan facilities ("Existing Loans") into 4 new convertible notes ("New Convertible Notes") with the following key terms:
- Maturity date of 30 June 2022.
- Conversion price $0.003 per share.
- Interest rate of 10.0% per annum; and
- Principal value of A$1,127,826 (in aggregate).
The New Convertible Notes were subject to shareholder approval, which was obtained at the AGM held on 31 July 2020.
Repaid Redeemed convertible notes
A convertible note with a principal value of A$152,630 plus accrued interest that matured on 27 August 2020 was repaid in cash during the quarter.
Loan Facilities:
The company has an unsecured loan facility of A$100,000 provided by Mr Andrew Richards (non-executive Chairman) repayable by 30 June 2021 at an interest rate is 10.0% per annum. Accrued capitalised interest is A$19,456.
The unsecured A$0.700 million facility at the end of the prior quarter, provided from entitles related to Mr Stephen Copulos (former non-executive Chairman and "Existing Loans") were refinanced into the new convertible notes following shareholder approval at the AGM held on 31 July 2020 (referred to above as Existing Loans).
ASX Listing Rules Appendix 5B (17/07/20) | Page 4 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
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Consolidated Zinc Limited published this content on 30 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 October 2020 22:59:03 UTC
