Qrtly Report June 06 App 5B
Centamin Egypt Limited
26 July 2006
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 2006
Consolidated statement of cash flows
Centamin Egypt Limited
Pharaoh Gold Mines NL (100%)
Viking Resources Ltd (100%)
North African Resources (100%)
----------- -----------
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 (3,392) (10,817)
(b) development (635) (1,278)
(c) production - -
(d) administration (268) (955)
1.3 Dividends received - -
1.4 Interest and other items of a similar
nature received 566 1,130
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 (3,729) (11,920)
--------------------------------- ----------- -----------
Cash flows related to investing activities
1.8 Payment for purchases of (a) prospects - -
(b) equity investments - -
(c) other fixed assets (207) (803)
1.9 Proceeds from sale of (a) prospects - -
(b) equity investments - -
(c) other fixed assets - (6)
1.10 Loans to other entities *(Refer Note 1) (4,192) (12,568)
1.11 Loans repaid by other entities - -
1.12 Other (provide details if material) - -
----------- -----------
Net investing cash flows (4,399) (13,377)
----------- -----------
1.13 Total operating and investing cash flows
(carried forward) (8,128) (25,297)
----------- -----------
1.13 Total operating and investment cash flows
(brought (8,128) (25,297)
forward) ----------- -----------
---------------------------------
Cash flows related to financing activities
1.14 Proceeds from issues of shares, options, etc. 46,437 46,640
1.15 Proceeds from sale of forfeited shares - -
1.16 Proceeds from borrowings *(Refer Note 1) 4,192 12,568
1.17 Repayment of borrowings 236 552
1.18 Dividends paid - -
1.19 Other (provide details if material) - -
----------- -----------
Net financing cash flows 50,865 59,760
--------------------------------- ----------- -----------
Net increase (decrease) in cash held 42,737 34,463
1.20 Cash at beginning of quarter/year to date 9,749 17,946
1.21 Exchange rate adjustments to item 1.20 1,969 2,046
----------- -----------
1.22 Cash at end of quarter 54,455 54,455
--------------------------------- ----------- -----------
*Note 1 - From the March 2004 Quarter onwards, the funding of exploration
expenditure by the Holding Company to its subsidiaries is also 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 1.2 228,671
-----------
1.24 Aggregate amount of loans to the parties included in item -
1.10 -----------
-------------------------------------------
1.25 Explanation necessary for an understanding of the transactions
- Salaries, superannuation contributions, consulting and directors fees paid
to Directors during the quarter amounted to $200,483.
- Mr S El-Raghy and Mr J El-Raghy are Directors and shareholders of El-Raghy
Kriewaldt Pty Ltd ('ELK'), which provides office premises to the Company in
Australia. All dealings with ELK are in the ordinary course of business and on
normal terms and conditions. Rent paid to ELK during the quarter amounted to
$13,395.
- Mr S El-Raghy provides office premises to the Company in Alexandria, Egypt.
All dealings are in the ordinary course of business and on normal terms and
conditions. Rent paid during the quarter amounted to $4,907.
- Mr C Cowden, a non-executive director, is also a director and shareholder of
Cowden Limited, which 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 quarter amounted to $9,886.
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 3,300
-----------
4.2 Development 14,000
------------------------------------------- -----------
Total 17,300
------------------------------------------- -----------
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 916 1,072
----------- -----------
5.2 Deposits at call 2,906 473
----------- -----------
5.3 Bank overdraft - -
----------- -----------
5.4 Term deposits 50,633 8,204
--------------------------------- ----------- -----------
Total: cash at end of quarter (item 1.22) 54,455 9,749
--------------------------------- ----------- -----------
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) (see note 3)
------------------ ---------- ---------- ---------- ----------
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 578,295,369 578,295,369
------------------ ---------- ---------- ---------- ----------
7.4 Changes
during quarter 75,000,000 75,000,000 27.5 pence 27.5 pence
(a) increases
through
issues/ 445,000 445,000 (See 7.9 below) (See 7.9 below)
options exercise
(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 Nil Exercise price Expiry date
Option Plan
2002
(description
and conversion 500,000 Nil 23.10 cents 12/11/2006
factor) 500,000 Nil 35.49 cents 15/12/2006
775,000 Nil 28.04 cents 04/02/2008
365,000 Nil 28.04 cents 17/02/2008
4,200,000 Nil 35.00 cents 31/10/2010
1,500,000 43.55 cents 08/12/2008
---------- ---------- ---------- ----------
7.8 Issued during
quarter ---------- ---------- ---------- ----------
7.9 Exercised
during quarter 30,000 30,000 28.04 cents 17/02/2008
50,000 50,000 23.10 cents 17/11/2006
100,000 100,000 23.10 cents 12/11/2006
15,000 15,000 28.04 cents 17/02/2008
250,000 250,000 35.49 cents 15/12/2006
---------- ---------- ---------- ----------
7.10 Expired/lapsed
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: Company Secretary Date: 26 July 2006
Print name: Heidi Brown
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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