Qtly report App B
Centamin Egypt Limited
31 January 2007
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 | | 31 December 2006 |
+--------------------------------+-----------------+--------------------------------+
Consolidated statement of cash flows
Centamin Egypt Limited
Pharaoh Gold Mines NL (100%)
Viking Resources Ltd (100%)
North African Resources (100%)
+----------------------------------------------------+---------------+--------------+
| |Current Quarter| Year to date |
|Cash flows related to operating activities | | (6 months) |
| | | |
| | $A'000 | $A'000 |
+----------------------------------------------------+---------------+--------------+
|1.1 Receipts from product sales and related debtors | | |
+----------------------------------------------------+---------------+--------------+
|1.2 Payments for (a) exploration and evaluation | (3,750) | (7,159) |
+----------------------------------------------------+---------------+--------------+
| (b) development | (704) | (1,521) |
+----------------------------------------------------+---------------+--------------+
| (c) production | - | - |
+----------------------------------------------------+---------------+--------------+
| (d) administration | (276) | (573) |
+----------------------------------------------------+---------------+--------------+
|1.3 Dividends received | - | - |
+----------------------------------------------------+---------------+--------------+
|1.4 Interest and other items of a similar nature | 619 | 1,296 |
| 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 | (4,111) | (7,957) |
+----------------------------------------------------+---------------+--------------+
| | | |
+----------------------------------------------------+---------------+--------------+
|Cash flows related to investing activities | | |
+----------------------------------------------------+---------------+--------------+
| | | |
+----------------------------------------------------+---------------+--------------+
|1.8 Payment for purchases of (a) prospects | - | - |
+----------------------------------------------------+---------------+--------------+
| (b) equity investments | - | - |
+----------------------------------------------------+---------------+--------------+
| (c) other fixed assets | (7,177) | (7,304) |
+----------------------------------------------------+---------------+--------------+
|1.9 Proceeds from sale of (a) prospects | - | - |
+----------------------------------------------------+---------------+--------------+
| (b) equity investments | - | - |
+----------------------------------------------------+---------------+--------------+
| (c) other fixed assets | 276 | 492 |
+----------------------------------------------------+---------------+--------------+
|1.10 Loans to other entities *(Refer Note 1) | (11,349) | (15,489) |
+----------------------------------------------------+---------------+--------------+
|1.11 Loans repaid by other entities | - | - |
+----------------------------------------------------+---------------+--------------+
|1.12 Other (provide details if material) | - | - |
+----------------------------------------------------+---------------+--------------+
| Net investing cash flows | (18,250) | (22,301) |
+----------------------------------------------------+---------------+--------------+
|1.13 Total operating and investing cash flows | (22,361) | (30,258) |
| | | |
+----------------------------------------------------+---------------+--------------+
|Cash flows related to financing activities | | |
+----------------------------------------------------+---------------+--------------+
| | | |
+----------------------------------------------------+---------------+--------------+
|1.14 Proceeds from issues of shares, options, etc. | 219 | 432 |
+----------------------------------------------------+---------------+--------------+
|1.15 Proceeds from sale of forfeited shares | - | - |
+----------------------------------------------------+---------------+--------------+
|1.16 Proceeds from borrowings *(Refer Note 1) | 11,349 | 15,489 |
+----------------------------------------------------+---------------+--------------+
|1.17 Repayment of borrowings | - | - |
+----------------------------------------------------+---------------+--------------+
|1.18 Dividends paid | - | - |
+----------------------------------------------------+---------------+--------------+
|1.19 Other (provide details if material) | - | - |
+----------------------------------------------------+---------------+--------------+
| Net financing cash flows | 11,568 | 15,921 |
+----------------------------------------------------+---------------+--------------+
| | | |
+----------------------------------------------------+---------------+--------------+
| Net increase (decrease) in cash held | (10,793) | (14,337) |
+----------------------------------------------------+---------------+--------------+
| | | |
+----------------------------------------------------+---------------+--------------+
|1.20 Cash at beginning of quarter/year to date | 51,157 | 54,455 |
+----------------------------------------------------+---------------+--------------+
|1.21 Exchange rate adjustments to item 1.20 | (387) | (141) |
+----------------------------------------------------+---------------+--------------+
|1.22 Cash at end of quarter | 39,977 | 39,977 |
+----------------------------------------------------+---------------+--------------+
*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 directors| Current |
| | quarter |
|Payments to related entities of the entity and associates of the | |
|related entities | $A'000 |
+-------------------------------------------------------------------+--------------+
| | |
+-------------------------------------------------------------------+--------------+
|1.23 Aggregate amount of payments to the parties included in item | 410 |
| 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
+-----------------------------------------------------------------------------+
| |
| |
|- Salaries, superannuation contributions, consulting and directors fees paid |
| to Directors during the quarter amounted to $303,788. |
| |
|- 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 $13,747. |
| |
|- 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 $4,788. |
| |
|- 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 $87,337. |
| |
+-----------------------------------------------------------------------------+
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 | Amount used |
| | available | |
| | | $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 | 2,000 |
+-------------------------------------------------------------------+--------------+
| | |
+-------------------------------------------------------------------+--------------+
|4.2 Development | 12,000 |
+-------------------------------------------------------------------+--------------+
| | |
+-------------------------------------------------------------------+--------------+
|Total | 14,000 |
+-------------------------------------------------------------------+--------------+
Reconciliation of Cash
+----------------------------------------------------+---------------+--------------+
|Reconciliation of cash at the end of the quarter (as|Current quarter| Previous |
|shown in the consolidated statement of cash flows) | | quarter |
|to the related items in the accounts is as follows. | $A'000 | |
| | | $A'000 |
+----------------------------------------------------+---------------+--------------+
| | | |
+----------------------------------------------------+---------------+--------------+
|5.1 Cash on hand and at bank | 1,528 | 1,012 |
+----------------------------------------------------+---------------+--------------+
| | | |
+----------------------------------------------------+---------------+--------------+
|5.2 Deposits at call | 1,329 | 4,053 |
+----------------------------------------------------+---------------+--------------+
| | | |
+----------------------------------------------------+---------------+--------------+
|5.3 Bank overdraft | - | - |
+----------------------------------------------------+---------------+--------------+
| | | |
+----------------------------------------------------+---------------+--------------+
|5.4 Term deposits | 37,120 | 46,092 |
+----------------------------------------------------+---------------+--------------+
| | | |
+----------------------------------------------------+---------------+--------------+
|Total: cash at end of quarter (item 1.22) | 39,977 | 51,157 |
+----------------------------------------------------+---------------+--------------+
Changes in interests in mining tenements
+---------------------------+--------------+-------------+-------------+-------------+
| | Tenement | Nature of | Interest at | Interest at |
| | reference | interest |beginning of | end of |
| | | | quarter | 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 | Amount paid |
| | | |per security | 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 | 579,430,369 | 579,430,369 | | |
+---------------------------+--------------+-------------+-------------+-------------+
|7.4 Changes during quarter | | | | |
| | | | | |
| (a) increases through | 685,000 | 685,000 | (See 7.9 | (See 7.9 |
| issues/options | | | below) | below) |
| 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 | | Exercise | Expiry date |
| (description and | Option Plan | | price | |
| conversion factor) | 2002 | | | |
| | | | | |
| | 675,000 | Nil | 28.04 cents | 04/02/2008 |
| | | | | |
| | 330,000 | Nil | 28.04 cents | 17/02/2008 |
| | | | | |
| | 4,200,000 | Nil | 35.00 cents | 31/10/2010 |
| | | | | |
| | 1,500,000 | Nil | 43.55 cents | 08/12/2008 |
| | | | | |
| | 250,000 | Nil | 65.66 cents | 30/08/2009 |
| | | | | |
+---------------------------+--------------+-------------+-------------+-------------+
|7.8 Issued during quarter | | | | |
+---------------------------+--------------+-------------+-------------+-------------+
|7.9 Exercised during | 10,000 | 10,000 | 28.04 cents | 17/02/08 |
| quarter | | | | |
| | 100,000 | 100,000 | 23.10 cents | 12/11/06 |
| | | | | |
| | 250,000 | 250,000 | 35.49 cents | 15/12/06 |
| | | | | |
| | 50,000 | 50,000 | 23.10 cents | 12/11/06 |
| | | | | |
| | 10,000 | 10,000 | 28.04 cents | 17/02/08 |
| | | | | |
| | 135,000 | 135,000 | 35.49 cents | 15/12/06 |
| | | | | |
| | 115,000 | 115,000 | 35.49 cents | 15/12/06 |
| | | | | |
| | 15,000 | 15,000 | 28.04 cents | 17/02/08 |
+---------------------------+--------------+-------------+-------------+-------------+
|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: 31 January 2007
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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