QUARTERLY CASH FLOW REPORT FOR THE QUARTER

RNS Number : 8129U

Scotgold Resources Ltd

02 August 2015

 

SCOTGOLD RESOURCES LIMITED

QUARTERLY CASH FLOW REPORT FOR THE QUARTER

ENDED 30 JUNE 2015 

Name of entity

SCOTGOLD RESOURCES LIMITED

ABN		Quarter ended ("current quarter")
42 127 042 773		30 JUNE 2015

Consolidated statement of cash flows

Cash flows related to operating activities		Current quarter $A	Year to date (12 months) $A
1.1	Receipts from product sales and related debtors	-	-
1.2	Payments for    (a)  exploration & evaluation                              (b)  development                              (c)  production                              (d)  administration	(527,384) - - (263,545)	(1,182,507) - - (1,081,591)
1.3	Dividends received	-	-
1.4	Interest and other items of a similar nature received	292	5,588
1.5	Interest and other costs of finance paid	-	-
1.6	Income taxes paid	-	-
1.7	Other (provide details if material)	-	-
	Net Operating Cash Flows	(790,637)	(2,185,510)
	Cash flows related to investing activities
1.8	Payment for purchases of:  (a)  prospects                                                   (b)  equity investments                                                   (c)  other fixed assets	- - (1,205)	- - (2,400)
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	(1,205)	(2,400)
1.13	Total operating and investing cash flows (carried forward)	(791,842)	(2,187,910)

1.13	Total operating and investing cash flows (brought  forward)	(791,842)	(2,187,910)
	Cash flows related to financing activities
1.14	Proceeds from issues of shares, options, etc.	900,000	4,259,739
1.15	Proceeds from sale of forfeited shares	-	-
1.16	Proceeds from borrowings	-	1,600,000
1.17	Repayment of borrowings	-	(3,031,286)
1.18	Dividends paid	-	-
1.19	Other - Share Issue Costs	(69,461)	(522,631)
	Net financing cash flows	830,539	2,305,821
	Net increase (decrease) in cash held	38,697	117,911
1.20	Cash at beginning of quarter/year to date	733,079	640,857
1.21	Exchange rate adjustments to item 1.20	30,873	43,881
1.22	Cash at end of quarter	802,649	802,649

 

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	162,720
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	350,000
4.2	Development
4.3	Production	-
4.4	Administration	350,000
	Total	700,000

 

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	227,149	83,079
5.2	Deposits at call	575,500	650,000
5.3	Bank overdraft
5.4	Other (provide details)
	Total: cash at end of quarter (item 1.22)	802,649	733,079

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	1,135,392,472	1,135,392,472
7.4	Changes during quarter (a)  Increases through issues (b)  Decreases through returns of capital, buy-backs	90,000,000	90,000,000
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)	26,222,222 3,000,000 153,161 7,111,111 30,000,000		Exercise price £0.0450 $0.0800 £0.0310 £0.0450 £0.0069	Expiry date 24 July 2015 31 March 2022 7 December 2015 28 March 2016 22 September 2017
7.8	Issued during quarter
7.9	Exercised during quarter
7.10	Expired during quarter
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.

For further information:

Scotgold Resources Limited             Westhouse Securities Limited

Richard Gray

Chief Executive Officer                      Martin Davison

Tel: [phone]                 Tel: [phone]

Capital Markets Consultants             Vicarage Capital Limited

Simon Rothschild                               Rupert Williams

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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