4th Qtr Rslts Appdx - Part II
Centamin Egypt Limited
31 July 2003
Rule 5.3
Appendix 5B
Mining exploration entity quarterly report
Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.
Name of entity
Centamin Egypt Limited
ABN Quarter ended ('current quarter')
------------------- ------------------
86 007 700 352 30 June 2003
------------------- ------------------
Consolidated statement of cash flows
------------ ------------
Current Year to
quarter date
Cash flows related to operating activities $A'000 (12 months)
$A'000
------------ ------------
------------
1.1 Receipts from product sales and related
debtors ------------
----------------------
1.2 Payments for (a) exploration and ( 1,380) ( 4,604)
evaluation
(b) development ( 190) ( 190)
(c) production
(d) administration ( 177) ( 1,350)
1.3 Dividends received
1.4 Interest and other items of a similar nature 275 492
received
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 ( 1,472) ( 5,652)
Cash flows related to investing activities
1.8 Payment for purchases of: (a) prospects
(b) equity
investments
(c) other fixed ( 4) ( 72)
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 ( 4) ( 72)
------------ ------------
1.13 Total operating and investing cash flows ( 1,476) ( 5,724)
------ (carried forward) ------------ ------------
----------------------
------ ----------------------
1.13 Total operating and investing cash flows ( 1,476) ( 5,724)
(brought forward) ------------ ------------
Cash flows related to financing activities
1.14 Proceeds from issues of shares, options, 29,199
etc.
1.15 Proceeds from sale of forfeited shares
1.16 Proceeds from borrowings
1.17 Repayment of borrowings ( 1,137) ( 1,462)
1.18 Dividends paid
1.19 Cost of Fund Raising ( 892)
------------ ------------
Net financing cash flows ( 1,137) 26,845
------------ ------------
Net increase (decrease) in cash held ( 2,613) 21,121
1.20 Cash at beginning of quarter/year to date 27,573 3,954
1.21 Exchange rate adjustments to item 1.20 ( 333) ( 448)
------------ ------------
1.22 Cash at end of quarter 24,627 24,627
------ ---------------------- ------------ ------------
Payments to directors of the entity and associates of the directors
Payments to related entities of the entity and associates of the related
entities
-------------
Current
quarter
$A'000
-------------
-------------
1.23 Aggregate amount of payments to the parties included in 168
------ item 1.2 -------------
--------------------------------
1.24 Aggregate amount of loans to the parties included in
item 1.10
1.25 Explanation necessary for an understanding of the transactions
-------------------------------------------
(a) Mr Sami El-Raghy, a director and employee of the Company
received salary and superannuation for the quarter amounting to $52,821
($211,200) for the year to date).
(b) Mr Josef El-Raghy, a director and employee of the Company
received salary and superannuation for the quarter amounting to $55,000
($205,897 for the year to date).
(c) Mr Sami El-Raghy is also a Director and Shareholder of
El-Raghy Kriewaldt Pty Ltd ('El-Raghy Kriewaldt'). El-Raghy Kriewaldt
provide office premises to the Company. All dealings with El-Raghy
Kriewaldt are in the ordinary course of business and on normal terms and
conditions. Rent paid to El-Raghy Kriewaldt during the current quarter
amounted to $12,636 ($48,636 for the year to date).
(d) Directors Fees and superannuation paid during the quarter
amounted to $46,562 ($102,208 for the year to date).
(e) Insurance - Mr Colin Cowden, a director of the Company, is
also a director and controlling shareholder of Cowden Limited, Insurance
Brokers. All dealings with Cowden Limited are in the ordinary course of
business and on normal terms and conditions. A total of $762 was paid
during the quarter to Cowden Limited for Travel Insurance.
-------------------------------------------
-------------------------------------------
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
------------------------------------------
------------------------------------------
Financing facilities available
Add notes as necessary for an understanding of the position.
------------- ----------
Amount available Amount used
$A'000 $A'000
------------- ----------
3.1 Loan facilities
----- ----------------------- ------------- ----------
3.2 Credit standby arrangements
----- ----------------------- ------------- ----------
Estimated cash outflows for next quarter
$A'000
---------------
4.1 Exploration and evaluation 2,784
---------------
4.2 Development 660
----- ----------------------------- ---------------
3,444
Total
----- ----------------------------- ---------------
Reconciliation of cash
------------------------- ------------ -----------
Reconciliation of cash at the end of the quarter (as Current Previous
shown in the consolidated statement of cash flows) to quarter quarter
the related items in the accounts is as follows.
$A'000 $A'000
------------------------- ------------ -----------
-----------
5.1 Cash on hand and at bank 291 599
------------ -----------
5.2 Deposits at call 19,312 21,459
------------ -----------
5.3 Bank overdraft
------------ -----------
5.4 Term Deposit 5,024 5,515
----- ---------------------- ------------ -----------
Total: cash at end of quarter (item 1.22) 24,627 27,573
----- ---------------------- ------------ -----------
Changes in interests in mining tenements
-------- --------------- -------- -------
Tenement Nature of interest Interest Interest
reference at at end of
beginning quarter
of
quarter
(note (2))
-------- --------------- -------- -------
6.1 Interests in mining E80/1708 Joint Venture 10% 0%
tenements earning 80% of 50%
relinquished, interest (Tenement
reduced or lapsed Surrendered)
-------- --------------- -------- -------
6.2 Interests in mining
tenements acquired
or increased
-------- --------------- -------- -------
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 Issue price per Amount paid up
-------------- number quoted security (see per security
---------- ---------- note 3) (cents) (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
501,910,369 501,910,369
---------- ---------- ---------- ------------
7.4 Changes
during
quarter
(a) Increases
through
issues
(b) Decreases
------ through ---------- ---------- ---------- ------------
returns of
capital,
buy-backs
----------
7.5 *Convertible
debt ---------- ---------- ---------- ------------
securities
(description)
7.6 Changes
during
quarter
(a) Increases
through
issues
(b) Decreases
------ through ---------- ---------- ---------- ------------
securities
matured,
converted
----------
7.7 Options Exercise price Expiry date
(description
and
conversion
factor)
49,999,744 NIL 20 cents 09/11/2003
---------- ---------- ---------- ------------
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 4).
2 This statement does give a true and fair view of the matters
disclosed.
Sign here:
............................................................ Date:
............................
(Director/Company secretary)
Print name:
.........................................................
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 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, 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 1022: Accounting for
Extractive Industries and AASB 1026: Statement of Cash Flows apply to this
report.
5 Accounting Standards ASX will accept, for example, the use of
International Accounting 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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