NEWS & MEDIA

European Metals Holdings Ltd – Quarterly Cash Flow Report

1 February 2018

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Introduced 01/07/96  Origin Appendix 8  Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/13, 01/09/16

 

Name of entity

 
EUROPEAN METALS HOLDINGS LIMITED (ASX: EMH)

 

ABN Quarter ended (Current quarter)
55 154 618 989 31 December 2017

 

Consolidated statement of cash flows Current

quarter

$A’000

 Year to date

(6 Months)

$A’000
1.       Cash flows from operating activities

 
1.1     Receipts from customers

 

 –

 

 –

 
1.2     Payments for:

 

 –

 

 –

 
(a) exploration and evaluation

 

 (670)

 

 (1,172)

 
(b) development

 

 –

 

 –

 
(c)  production

 

 –

 

 –

 
(d) staff costs and board remuneration

 

 (147)

 

 (258)

 
(e)  administration and corporate costs

 

 (246)

 

 (444)

 
1.3     Dividends received (see note 3)

 

 – –
1.4     Interest received

 

 –

 

 1

 
1.5     Interest and other costs of finance paid

 

 –

 

 –

 
1.6     Income taxes paid

 

 – –
1.7     Research and development refunds

 

 –

 

 175

 
1.8     Other (provide details if material)

 

 –

 

 –

 
1.9     Net cash from / (used in) operating activities

 

 (1,063)

 

 (1,698)

 
2.       Cash flows from investing activities

 
2.1     Payments to acquire:

 

 –

 

 –

 
(a) property, plant and equipment

 

 –

 

 –

 
(b) tenements (see item 10)

 

 – –
(c)  investments

 

 –

 

 –

 
(d) other non-current asset

 

 –

 

 –

 
2.2     Proceeds from disposal of:

 

 –

 

 –

 
(a) property, plant and equipment

 

 –

 
(b) tenements (see item 10)

 

 –

 

 –

 
(c)  investments

 

 –

 

 –

 
(d) other non-current assets

 

 –

 

 –

 
2.3     Cash flows from loans to other entities

 

 –

 

 –

 
2.4     Dividends received (see note 3)

 

 –

 

 –

 
2.5     Other (provide details if material)

 

 –

 

 –

 
2.6     Net cash from / (used in) investing activities

 

 –

 

 –

 

 

(1)        Excludes amounts incurred and accrued in respect to exploration activities as at 31 December 2017, paid in January 2018, refer also 9.1.  

 

 

Consolidated statement of cash flows Current

quarter

$A’000

 Year to date

(6 Months)

$A’000
3.       Cash flows from financing activities

 
3.1     Proceeds from issues of shares 4,119 4,869
3.2     Proceeds from issue of convertible notes – –
3.3     Proceeds from exercise of share options – –
3.4     Transaction costs related to issues of shares, convertible notes or options (2) (2)
3.5     Proceeds from borrowings 200 200
3.6     Repayment of borrowings (200) (200)
3.7     Transaction costs related to loans and borrowings – –
3.8     Dividends paid – –
3.9     Other (provide details if material)

 

 –

 

 –

 
3.10  Net cash from / (used in) financing activities

 

 4,117

 

 4,867

 
4.       Net increase / (decrease) in cash and cash equivalents for the period

 
4.1     Cash and cash equivalents at beginning of quarter/year to date 561 446
4.2     Net cash from / (used in) operating activities (item 1.9 above) (1,063) (1,698)
4.3     Net cash from / (used in) investing activities (item 2.6 above) – –
4.4     Net cash from / (used in) financing activities (item 3.10 above) 4,117 4,867
4.5     Effect of movement in exchange rates on cash held

 

 (32)

 

 (32)

 
4.6     Cash and cash equivalents at end of quarter 3,583 3,583

 

5.         Reconciliation of cash and cash equivalents
at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts		 Current

quarter

$A’000

 Previous

quarter

$A’000
5.1     Bank balances 3,583 561
5.2     Call deposits – –
5.3     Bank overdrafts – –
5.4     Other (provide details) – –
5.5       Cash and cash equivalents at end of quarter (should equal item 4.6 above) 3,583 561

 

6.         Payments to directors of the entity and their associates Current

quarter

$A’000
6.1     Aggregate amount of payments to these parties included in item 1.2 144
6.2     Aggregate amount of cash flow from loans to these parties included in item 2.3 –
6.3     Include below any explanation necessary to understand the transactions included in items 6.1 and 6.2
Amounts paid to directors and their associates as director remuneration.

 

7.         Payments to related entities of the entity and their associates Current

quarter

$A’000
7.1     Aggregate amount of payments to these parties included in item 1.2 18
7.2     Aggregate amount of cash flow from loans to these parties included in item 2.3 –
7.3     Include below any explanation necessary to understand the transactions included in items 7.1 and 7.2
Amounts paid to Wilgus Investments Pty Ltd a related entity of David Reeves for Rent and Consulting Fees.

 

8.         Financing facilities available


Add notes as necessary for an understanding of the position

 Total facility amount at quarter end
$A’000		 Amount drawn at quarter end
$A’000
8.1     Loan facilities – –
8.2     Credit standby arrangements – –
8.3     Other (please specify) – –
8.4       Include below a description of each facility above, including the lender, interest rate and whether it is secured or unsecured. If any additional facilities have been entered into or are proposed to be entered into after quarter end, include details of those facilities as well.

 

9.         Estimated cash outflows for next quarter

 

 $A’000

 
9.1     Exploration and evaluation(2) 1,043
9.2     Development –
9.3     Production –
9.4     Staff costs and director remuneration 153
9.5     Administration and corporate costs 282
9.6     Other (provide details if material) –
9.7       Total estimated cash outflows

 

 1,478

 

(2)        This includes amounts incurred and accrued in respect to exploration activities as at 31 December 2017, paid in January 2018.

 

10.       Changes in tenements
(items 2.1(b) and 2.2(b) above)		 Tenement reference and location Nature of interest Interest at beginning of quarter

%

 Interest at end of quarter

%
10.1     Interests in mining tenements and petroleum tenements lapsed, relinquished or reduced Nil
10.2     Interests in mining tenements and petroleum tenements acquired or increased Nil

 

Compliance statement

  1. This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
  2. This statement gives a true and fair view of the matters disclosed.

 

 

 

Signed:                                                  Dated:    Wednesday, 31 January 2018

Company Secretary

 

Print name:           Julia Beckett

 

 

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 that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.
  2. If this quarterly report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 107: Statement of Cash Flows apply to this report. If this quarterly report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standard applies to this report.
  3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.

 

This information is provided by RNS

The company news service from the London Stock Exchange

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