European Metals Holdings Limited Quarterly Cashflow Report (0656V)
October 31 2017 - 2:33AM
UK Regulatory
TIDMEMH
RNS Number : 0656V
European Metals Holdings Limited
31 October 2017
Appendix 5B
Mining exploration entity and oil and gas exploration entity
quarterly report
-+Rule 5.5
Appendix 5B
Mining exploration entity and oil and gas exploration entity
quarterly report
ntroduced 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 30 September 2017
-------------- ----------------------
Consolidated statement of cash Year to
flows Current date
quarter (3 Months)
$A'000 $A'000
--------- ------------
1. Cash flows from operating activities
1.1 Receipts from customers - -
1.2 Payments for: - -
(a) exploration and evaluation (501) (501)
(b) development - -
(c) production - -
(d) staff costs and board remuneration (111) (111)
(e) administration and corporate
costs (199) (199)
(f) UK Listing - -
1.3 Dividends received (see note - -
3)
1.4 Interest received 1 1
1.5 Interest and other costs of - -
finance paid
1.6 Income taxes paid - -
1.7 Research and development refunds 175 175
1.8 Other (provide details if material) - -
1.9 Net cash from / (used in) operating
activities (635) (635)
------------------------------------------------ --------- ------------
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 assets - -
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 30 September 2017, paid in October
2017, refer also 9.1.
+ See chapter 19 for defined terms
(2) 1 September 2016
Consolidated statement of cash Year to
flows Current date
quarter (3 Months)
$A'000 $A'000
----------------------------------------- --------- ------------
3. Cash flows from financing activities
3.1 Proceeds from issues of shares 750 750
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
3.5 Proceeds from borrowings - -
3.6 Repayment of borrowings - -
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 750 750
----------------------------------------- --------- ------------
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 446 446
4.2 Net cash from / (used in) operating
activities (item 1.9 above) (635) (635)
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) 750 750
4.5 Effect of movement in exchange - -
rates on cash held
--------- ------------
4.6 Cash and cash equivalents at
end of quarter 561 561
----------------------------------------- --------- ------------
5. Reconciliation of cash and cash
equivalents
at the end of the quarter (as shown
in the consolidated statement of Current Previous
cash flows) to the related items quarter quarter
in the accounts $A'000 $A'000
--------- ---------
5.1 Bank balances 561 446
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) 561 446
--------------------------------------------- --------- ---------
6. Payments to directors of the entity Current
and their associates quarter
$A'000
---------
6.1 Aggregate amount of payments to these
parties included in item 1.2 106
---------
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 Current
entity and their associates quarter
$A'000
---------
7.1 Aggregate amount of payments to these
parties included in item 1.2 23
---------
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 Total Amount
Add notes as necessary for an understanding facility drawn
of the position amount at quarter
at quarter end
end $A'000
$A'000
------------ ------------
8.1 Loan facilities 1,000 -
------------ ------------
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.
--------------------------------------------------------------------------------
The interim funding facility at 8.1 is between
European Metals Holdings Limited and 6466 Investments
Pty Ltd. The facility limit is for an amount
of $2 million for a period of 12 months from
the date of execution.
The fees associated with the Facility are as
follows:
(a) Establishment Fee: 2% of the facility limit
payable at the subscription date from the proceeds
of the first advance; and
(b) Standby Fee: 3% of each advance payable at
the subscription date from the proceeds of that
advance
The company has received four advances of $250,000
as at 30 September 2017. During the quarter the
company issued shares in the company to 6466
Investments Pty Ltd to the value of the $750,000
(three advances) plus any fees. The remaining
facility balance as at 30 September 2017 is $1.00
million.
--------------------------------------------------------------------------------
9. Estimated cash outflows for next quarter $A'000
-------
9.1 Exploration and evaluation(2) 1,217
9.2 Development -
9.3 Production -
9.4 Staff costs and director remuneration 136
9.5 Administration and corporate costs 140
9.6 Other (provide details if material) -
9.7 Total estimated cash outflows 1,493
---------------------------------------------------- -------
(3) This includes amounts incurred and accrued in respect to
exploration activities as at 30 September 2017, paid in October
2017.
10. Changes in Tenement Nature of Interest Interest
tenements reference interest at beginning at end
(items 2.1(b) and location of quarter of quarter
and 2.2(b) above) % %
-------------- ---------- -------------- ------------
10.1 Interests Nil
in mining tenements
and petroleum
tenements lapsed,
relinquished or
reduced
-------------- ---------- -------------- ------------
10.2 Interests Nil
in mining tenements
and petroleum
tenements acquired
or increased
-------------- ---------- -------------- ------------
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.
Julia Beckett
Signed: Dated: Tuesday, 31 October 2017
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
END
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