Appendix 5B

RNS Number : 3785N
Scotgold Resources Ltd
28 January 2016
 

 

SCOTGOLD RESOURCES LIMITED

 

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, 01/05/2013

 

 

Name of entity

SCOTGOLD RESOURCES LIMITED

 

ABN


Quarter ended ("current quarter")

42 127 042 773


31 DECEMBER 2015

 

Consolidated statement of cash flows

 

 

Cash flows related to operating activities

 

Current quarter

 

$A

Year to date

(6 months)

$A

1.1

Receipts from product sales and related debtors

 

 

-

 

-

1.2

Payments for    (a)  exploration & evaluation

                             (b)  development

                             (c)  production

                             (d)  administration

(410,584)

-

-

(420,448)

(772,612)

-

-

(676,094)

1.3

Dividends received

-

-

1.4

Interest and other items of a similar nature received

 

9

 

316

1.5

Interest and other costs of finance paid

-

(1,500)

1.6

Income taxes paid

-

-

1.7

Other (provide details if material)

-

-


 

Net Operating Cash Flows

 

(831,023)

 

(1,499,890)


 

Cash flows related to investing activities



1.8

Payment for purchases of:  (a)  prospects

                                                  (b)  equity investments

                                                  (c)  other fixed assets

-

-

-

-

-

 

1.9

Proceeds from sale of:          (a)  prospects

                                                  (b)  equity investments

                                                  (c)  other fixed assets

-

-

-

-

-

-

1.10

Loans to other entities

-

-

1.11

Loans repaid by other entities

-

-

1.12

Other (provide details if material)

-

-


 

Net investing cash flows

 

-

 

-

1.13

Total operating and investing cash flows (carried forward)

 

(831,023)

 

(1,449,890)





 

1.13

Total operating and investing cash flows (brought  forward)

 

(831,023)

 

(1,449,890)


 

Cash flows related to financing activities



1.14

Proceeds from issues of shares, options, etc.

1,613,246

1,613,246

1.15

Proceeds from sale of forfeited shares

-

-

1.16

Proceeds from borrowings

-

-

1.17

Repayment of borrowings

-

-

1.18

Dividends paid

-

-

1.19

Other - Share Issue Costs

(25,821)

(56,177)


Net financing cash flows

 

1,587,425

 

1,557,069


 

Net increase (decrease) in cash held

 

 

756,402

 

107,179

1.20

Cash at beginning of quarter/year to date

159,333

802,649

1.21

Exchange rate adjustments to item 1.20

(41,433)

(35,526)

1.22

Cash at end of quarter

 

874,302

 

 

874,302

 

 

Payments to directors of the entity, associates of the directors, related entities of the entity and associates of the related entities

 


Current quarter

$A

 

1.23

 

Aggregate amount of payments to the parties included in item 1.2

 

175,633

 

 

1.24

 

Aggregate amount of loans to the parties included in item 1.10

 

Nil

 

1.25

 

Explanation necessary for an understanding of the transactions

 

 

N/A

 

 

 

 

 

Non-cash financing and investing activities

 

2.1

Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows


 

 

 

 

 

2.2

Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest


N/A

 

 

 

 

 

Financing facilities available

Add notes as necessary for an understanding of the position.

 



Amount available

$

Amount used

$

3.1

Loan facilities

Principal - Convertible Notes

 

1,600,000

 

1,600,000

3.2

Credit standby arrangements

 

Nil

N/A

 

Estimated cash outflows for next quarter

 



$A

4.1

Exploration and evaluation

 

100,000

4.2

Development

 

-

4.3

Production

 

-

4.4

Administration

 

350,000


 

Total

 

450,000

 

Reconciliation of cash

 

Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.

Current quarter

$A

Previous quarter

$A

5.1

Cash on hand and at bank

297,932

98,793

5.2

Deposits at call

576,370

60,540

5.3

Bank overdraft



5.4

Other (provide details)




Total: cash at end of quarter (item 1.22)

874,302

159,333

 

Changes in interests in mining tenements and petroleum tenements

 



Tenement reference and location

Nature of interest

(note (2))

Interest at beginning of quarter

Interest at end of quarter

6.1

Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed

 

 

Nil




6.2

Interests in mining tenements and petroleum tenements acquired or increased

 

 

Nil




 

Issued and quoted securities at end of current quarter

Description includes rate of interest and any redemption or conversion rights together with prices and dates.

 


Total number

Number quoted

Issue price per security (see note 3) (cents)

Amount paid up per security (see note 3) (cents)

7.1

Preference +securities  (description)





7.2

Changes during quarter

(a)  Increases through issues

(b)  Decreases through returns of capital, buy-backs, redemptions





7.3

+Ordinary securities

 

1,259,488,361

1,259,488,361



7.4

Changes during quarter

(a)  Increases through issues

 

(b)  Decreases through returns of capital, buy-backs

 

 

 

124,095,889

 

 

 

124,095,889

 

 

 

1.30

 

 

 

1.30

7.5

+Convertible debt securities (description)





7.6

Changes during quarter

(a)  Increases through issues

(b)  Decreases through securities matured, converted





7.7

Options  (description and conversion factor)

 

3,000,000

7,111,111

30,000,000

124,095,889


Exercise price

$0.0800

£0.0450

£0.0069

£0.0100

Expiry date

31 March 2022

28 March 2016

22 September 2017

30 September 2017

7.8

Issued during quarter

124,095,889


£0.0100

30 September 2017

7.9

Exercised during quarter





7.10

Expired during quarter

153,161

 


£0.0310

 

7 December 2015

 

7.11

Debentures

(totals only)





7.12

Unsecured notes (totals only)

 





 

 

Compliance statement

 

1             This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 5).

 

2             This statement does give a true and fair view of the matters disclosed.

 

 

 

 

 

Sign here:                                                                Date: 28 January 2016.

Company secretary

 

 

 

Print name:     Gabriel Chiappini

 

 

For further information please contact:

 

Scotgold Resources

Limited

Stockdale Securities

Limited

Capital Markets

Consultants

Vicarage Capital

Limited

Richard Gray - CEO

Robert Finlay/

Alastair Stratton

Simon Rothschild

Rupert Williams

Tel: +44 (0)1838 400 306

Tel: +44 (0)20 7601 6100

Tel +44 (0)7703 167 065

Tel: +44 (0)20 3651 2911

 

 

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 wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.

 

2             The "Nature of interest" (items 6.1 and 6.2) includes options in respect of interests in mining tenements and petroleum tenements acquired, exercised or lapsed during the reporting period.  If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement or petroleum tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.

 

3             Issued and quoted securities  The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities.

 

4            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.

 

5             Accounting Standards ASX will accept, for example, the use of International Financial Reporting Standards for foreign entities.  If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

 


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