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Quarterly Cashflow Report

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, 01/06/10.

 

 

Name of entity

FOCUS   MINERALS LIMITED

 

ABN   Quarter ended (“current quarter”)

56   005 470 799

30 JUNE 2013

 

Consolidated statement of cash flows

 

Cash flows related to operating activities

 

Current quarter

$A’000

Year to date

$A’000

1.1

Receipts from product   sales and related debtors

26,788

214,768

1.2 Payments for    (a)    exploration & evaluation

(3,746)

(15,343)

 

(b)  development

(4,332)

(14,419)

 

(c)  production

(52,958)

(235,379)

 

(d)  administration

(e) royalties paid

(5,364)

(15,721)

(18,927)

(23,431)

1.3

Dividends received

-

-

1.4

Interest and other items   of a similar nature received

1,906

3,581

1.5

Interest and other costs   of finance paid

-

-

1.6

Income taxes paid

-

-

1.7

Other (provide details   if material)

962

2,264

 

Net Operating Cash Flows

(52,465)

(86,886)

 

 

Cash flows related to investing activities

 

 

 

 

1.8

Payment   for purchases of:  (a)  prospects

(b)  equity investments

(c)  other fixed assets

-

-

(1,738)

-

-

(7,475)

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)

       – Bonds

       – Takeover costs

(170)

-

(12,165)

-

 

Net investing cash flows

-

-

1.13

Total operating and   investing cash flows (carried forward)

(1,908)

(19,640)


1.13

Total operating and   investing cash flows (brought  forward)

(54,373)

(106,526)


 
 
 

 

Cash flows related to financing activities

1.14

Proceeds from issues of   shares, options, etc.

Share issue costs

-

218,091

1.15

Proceeds from sale of   forfeited shares

-

-

1.16

Proceeds from borrowings

-

-

1.17

Repayment of borrowings

-

-

1.18

Dividends paid

-

-

1.19

Other (provide details   if material)

-

-

 

Net financing cash flows

-

218,091

 

 

Net increase (decrease) in cash held

 

(54,373)

111,565

1.20

Cash at beginning of   quarter/year to date

168,541

2,603

1.21

Exchange rate   adjustments to item 1.20

-

-

1.22

Cash at end of quarter

114,168

114,168

 

Gold on hand – At 30 June 2013 the Company held 1,314 ounces of gold in its metal account with the Perth Mint.

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 item 1.2

149

 

1.24

Aggregate amount of loans to the parties   included in item 1.10

-

 

1.25

Explanation necessary   for an understanding of the transactions

 

 

 

Director   fees & superannuation expense.

 

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

 

Nil

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

   

Nil

 

 

 

 

 

Financing facilities available

Add notes as necessary for an understanding of the position.

   

Amount available

$A’000

Amount used

$A’000

3.1

Loan facilities

10,000

8,000

3.2

Contingent Instrument   Facility

18,000

7,037

Estimated cash outflows for next quarter

   

$A’000

4.1

Exploration and   evaluation

1,305

4.2

Development

0

4.3

Production

12,372

4.4

Administration

2,817

 

Total

16,494

 

Reconciliation of cash

Reconciliation of cash   at the end of the quarter (as shown in the consolidated statement of cash   flows) to the related items in the accounts is as follows.

Current quarter

$A’000

Previous quarter

$A’000

5.1

Cash on hand and at bank

114,159

168,542

5.2

Deposits at call

-

-

5.3

Bank overdraft

-

-

 

Available cash         (item   1.22)

114,159

168,542

5.4

Other (provide details)   – Bonds

25,431

25,200

 

Total: cash at end of   quarter

139,590

193,742

 

Changes in interests in mining tenements

 

Tenement reference

Nature of interest

(note (2))

Interest at beginning of   quarter

Interest at end of   quarter

6.1

Interests in mining   & prospecting tenements relinquished, reduced or lapsed

P38/3766

P38/3702

P38/3708

P38/3709

P39/4648

P39/4782

E38/1930

E39/1296

M38/372

M38/694

P38/3496

P38/3497

P38/3499

P38/3717

P38/3718

P38/3719

 

Lapsed

Lapsed

Lapsed

Lapsed

Transferred

Transferred

Transferred

Transferred

Transferred

Transferred

Transferred

Transferred

Transferred

Transferred

Transferred

Transferred

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

 6.2

Interests in mining *   prospecting tenements acquired or increased

P38/3974

P38/3975

P38/3976

P15/5716

P15/5730

P15/5749

P15/5750

P15/5756

 

Acquired

Acquired

Acquired

Acquired

Acquired

Acquired

Acquired

Acquired

0%

0%

0%

0%

0%

0%

0%

0%

100%

100%

100%

100%

100%

100%

100%

100%

 

 

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   (see note 3) (cents)

Amount paid up per   security (see note 3) (cents)

7.1 Preference +securities  (description)

N/a

     
7.2

Changes during quarter

(a)  Increases

(b)  Decreases

N/a

     
7.3 +Ordinary   securities

9,137,375,877

9,137,375,877

7.4

Changes during quarter

(a)       Increases   through issues

(b)  Decreases through returns   of capital, buy-backs

300,694,977

13,909,548

300,694,977

13,909,548

1.7 cents

1.6 cents

 
7.5

+Convertible debt securities (description)

N/a

 

 

 

 

 

 

7.6

Changes during quarter

(a)  Increases (b)  Decreases

N/a

 

 
7.7

Options  (description and conversion factor)

13,500,000

15,000,000

-

-

Exercise price

12.3 cents

5.0 cents

Expiry date

30 June 2014

28 February 2016

7.8

Issued during quarter

15,000,000

-

5.0 cents

28 February 2016

7.9

Exercised during quarter

-

-

-

-

7.10

Expired/cancelled  during   quarter

10,000,000

-

12.3 cents

30 June 2014

7.11

Debentures

(totals only)

N/a

     
7.12

Unsecured notes (totals   only)

N/a

     

 

 

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:         Paul Fromson                        Date 17 July 2013

Company Secretary

 

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.

 

 

== == == == ==Quarterly Cashflow Report

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