Quarterly Financial Report
July 25 2008 - 1:01AM
UK Regulatory
RNS Number : 7853Z
Gippsland Limited
25 July 2008
Rule 5.3
Appendix 5B
Mining exploration entity quarterly report
Gippsland Limited
ABN 31 004 766 376
Quarter ended (*current quarter*) 30 June 2008
Consolidated statement of cash flows
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) (5)(545) (716) (1,697)(1,236)
exploration and (2,496)
evaluation
(b) development
(c) production
(d)
administration
1.3 Dividends received
1.4 Interest and other items 15 79
of a similar nature
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 (1,251) (5,350)
Cash flows related to
investing activities
1.8 Payment for purchases of: (4) (29)
(a)prospects
(b)equity
investments
(c)other fixed
assets
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 - 93
material)Reimbursement of
office fit-out
Net investing cash flows (4) 64
1.13 Total operating and (1,255) (5,286)
investing cash flows
Cash flows related to
financing activities
1.14 Proceeds from issues of 1,173 4,203
shares, options, etc.
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 - 115
material)Term Deposit
Net financing cash 1,173 4,318
flows(carried forward)
Net financing cash flows(brought forward) 1,173 4,318
Net increase (decrease) in cash held (82) (968)
1.20 Cash at beginning of quarter/year to date 1,767 2,611
1.21 Exchange rate adjustments to item 1.20 (49) (7)
1.22 Cash at end of quarter 1,636 1,636
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 260
in item 1.2
1.24 Aggregate amount of loans to the parties included in Nil
item 1.10
1.25 Explanation necessary for an understanding of the transactions
Payments of consulting fees and directors fees to directors and director related entities
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
None
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
None
Financing facilities available
Amount available Amount used
$A*000 $A*000
3.1 Loan facilities - -
3.2 Credit standbyarrangements - -
Estimated cash outflows for next quarter
$A*000
4.1 Exploration and evaluation 30
4.2 Development 270
Total 300
Reconciliation of cash
Reconciliation of cash at the end of the quarter (as shown in the consolidated Current quarter Previous quarter
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 1,458 1,523
5.2 Deposits at call 178 244
5.3 Bank overdraft
5.4 Other (provide details)
Total: cash at end of quarter(item 1.22) 1,636 1,767
Changes in interests in mining tenements
Tenement reference Nature of interest Interest at Interest at end of
(note (2)) beginning of quarter quarter
6.1 Interests in mining Nil
tenements
relinquished,
reduced or lapsed
6.2 Interests in mining Nil
tenements acquired
or increased
Issued and quoted securities at end of current quarter
Total number Number quoted Issue price per Amount paid up per
security (see note security (see note
3) (cents) 3) (cents)
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 306,354,325 306,354,325
7.4 Changes during 12,655,553 12,655,553
quarter
(a) Increases
through issues
(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 25,000,0004,000,000 -- Exercise price13.5 Expiry
cents7 UK pence date26/05/201215/12/
2011
7.8 Issued during
quarter
7.9 Exercised during
quarter
7.10 Expired 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.
RJ Telford, Director Date: 25 July 2008
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: SX 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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