4th quarter App5B Pt 2
Centamin Egypt Limited
30 July 2004
Rule 5.3
Appendix 5B
Mining exploration entity quarterly report
Introduced 1/7/96. Origin : Appendix 8. Amended 1/7/98, 30/9/2001.
Name of Entity
Centamin Egypt Limited
ABN Quarter ended ('current quarter')
86 007 700 352 30 June 2004
Consolidated statement of cash flows
Centamin Egypt Limited
Pharaoh Gold Mines NL (100%)
Viking Resources Ltd (100%)
North African Resources (100%)
Egyptian Pharaoh Investments (50%)
----------- -----------
Cash flows related to operating activities Current Quarter Year to date
$A'000 (12 months)
$A'000
----------- -----------
1.1 Receipts from product sales and related - -
debtors
1.2 Payments for (a) exploration and
evaluation (748) (2,886)
(b) development (6) (131)
(c) production - -
(d) administration (157) (806)
1.3 Dividends received - -
1.4 Interest and other items of a similar
nature received 254 1,006
1.5 Interest and other costs of finance paid - -
1.6 Income taxes paid - -
1.7 Other (provide details if material) - (200)
----------- -----------
Net Operating Cash Flows (657) (3,017)
--------------------------------- ----------- -----------
Cash flows related to investing activities
1.8 Payment for purchases of (a) prospects - -
(b) equity investments - (31)
(c) other fixed assets (704) (742)
1.9 Proceeds from sale of (a) prospects - -
(b) equity investments - -
(c) other fixed assets 9 15
1.10 Loans to other entities *(Refer Note 1) (1,457) (1,821)
1.11 Loans repaid by other entities - -
1.12 Other (provide details if material) - -
----------- -----------
Net investing cash flows (2,152) (2,579)
----------- -----------
1.13 Total operating and investing cash flows
(carried forward) (2,809) (5,596)
----------- -----------
1.13 Total operating and investment cash flows (brought
forward) (2,809) (5,596)
--------------------------------- ----------- -----------
Cash flows related to financing activities
1.14 Proceeds from issues of shares, options, etc. - -
1.15 Proceeds from sale of forfeited shares - -
1.16 Proceeds from borrowings *(Refer Note 1) 1,457 1,829
1.17 Repayment of borrowings (9) (9)
1.18 Dividends paid - -
1.19 Other (provide details if material) - -
----------- -----------
Net financing cash flows 1,448 1,820
--------------------------------- ----------- -----------
Net increase (decrease) in cash held (1,361) (3,776)
1.20 Cash at beginning of quarter/year to date 22,061 24,627
1.21 Exchange rate adjustments to item 1.20 406 257
----------- -----------
1.22 Cash at end of quarter 21,108 21,108
--------------------------------- ----------- -----------
*Note 1 - From the March 2004 Quarter onwards, the funding of exploration
expenditure by the Holding Company to its subsidiaries will be disclosed as an
inter-entity loan under sections 1.10 and 1.16 respectively.
-----------
Payments to directors of the entity and associates of the Current quarter
directors
Payments to related entities of the entity and associates of $A'000
the related entities -----------
1.23 Aggregate amount of payments to the parties included in
item 1.2 (202)
-----------
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 S El-Raghy, a director, and an employee of Pharaoh Gold Mines NL received
salary for the quarter amounting to $98,812.
(b) Mr J El-Raghy, a director and employee of the Company received salary and
superannuation for the quarter amounting to $56,650.
(c) Sami El-Raghy is also a Director and Shareholder of El-Raghy Kriewaldt Pty
Ltd ('El-Raghy Kriewaldt'). El-Raghy Kriewaldt provides 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 $12,706.
(d) Directors fees and superannuation paid during the quarter amounted to
$19,875.
(e) Services
Dr T Elder, a non-executive director provides additional consulting services
to the Company. All dealings with Dr T Elder are in the ordinary course of
business and on normal terms and conditions. Consulting fees paid to Dr T
Elder during the current quarter amounted to $6,538.
(f) Insurance
Mr C Cowden, a non-executive director, is also a director and shareholder of
Cowden Limited. Cowden Limited provides insurance broking services to the
Company. All dealings with Cowden Limited are in the ordinary course of
business and on normal terms and conditions. Insurance premiums paid to
Cowden Limited during the current quarter amounted to $7,754.
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 fro 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 1,000
-----------
4.2 Development 30
------------------------------------------- -----------
Total 1,030
------------------------------------------- -----------
Reconciliation of Cash
--------------------------------- ----------- -----------
Reconciliation of cash at the end of the Current quarter Previous quarter
quarter (as shown in the consolidated
statement of cash flows) to the related
items in the accounts is as follows.
$A'000 $A'000
--------------------------------- ----------- -----------
5.1 Cash on hand and at bank 256 441
----------- -----------
5.2 Deposits at call 351 6,679
----------- -----------
5.3 Bank overdraft -
----------- -----------
5.4 Term deposits 20,501 14,941
--------------------------------- ----------- -----------
Total: cash at end of quarter (item 1.22) 21,108 22,061
--------------------------------- ----------- -----------
Changes in interests in mining tenements
---------- --------------- --------- ---------
Tenement reference Nature of interest Interest at beginning of quarter Interest at end of quarter
(note (2))
---------- --------------- ---------
---------
6.1 Interest in
mining
tenements
relinquished,
reduced or
lapsed ---------- --------------- ---------
---------
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 Number quoted Issue price per security Amount paid up per security
(see 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 Employee Option Exercise price Expiry date
(description and Plan 2002
conversion
factor) 250,000 Nil 29.00 cents 11/11/2005
1,160,000 Nil 23.10 cents 12/11/2006
130,000 Nil 23.10 cents 17/11/2006
750,000 Nil 35.49 cents 15/12/2006
Employee Service
Agreement
3,000,000 Nil 23.62 cents 10/03/2009
---------- ---------- ---------- ----------
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: Joint Company Secretary Date:
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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