TIDMWLFE
RNS Number : 1800L
Wolf Minerals Limited
24 April 2015
Rule 5.5
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, 01/05/2013
Name of entity
WOLF MINERALS LIMITED
---------------------
ABN Quarter ended ("current
quarter")
11 121 831 472 31 MARCH 2015
-------------- -----------------------
Consolidated statement of cash flows
Cash flows related to Current quarter Year to date
operating activities
$A'000 (9 months)
$A'000
---------------- -------------
1.1 Receipts from product
sales and related debtors
Payments for (a) exploration
& evaluation - -
(b) development (24,449) (136,485)
(c) production - -
1.2 (d) administration (1,794) (5,694)
1.3 Dividends received
Interest and other
items of a similar
1.4 nature received 135 438
Interest and other
1.5 costs of finance paid (1,412) (3,905)
1.6 Income taxes paid
Other (provide details
if material)
1.7 * R&D Rebate - 583
Net Operating Cash
Flows (27,520) (145,063)
----- ----------------------------- ---------------- -------------
Cash flows related
to investing activities
Payment for purchases
of: (a) prospects
(b) equity investments
1.8 (c) other fixed assets - (2)
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)
Net investing cash
flows (2)
---------------- -------------
Total operating and
investing cash flows
1.13 (carried forward) (27,520) (145,065)
----- ----------------------------- ---------------- -------------
Total operating and
investing cash flows
1.13 (brought forward) (27,520) (145,065)
----- -----------------------------
Cash flows related
to financing activities
Proceeds from issues
of shares, options,
1.14 etc. 198 198
1.15 Proceeds from sale
of forfeited shares
1.16 Proceeds from borrowings 28,932 80,884
1.17 Repayment of borrowings
1.18 Dividends paid
1.19 Other (Cost of raising
capital)
---------------- -------------
Net financing cash
flows 29,130 81,082
----- ----------------------------- -------------
Net increase (decrease)
in cash held 1,610 (63,983)
Cash at beginning of
1.20 quarter/year to date 40,697 102,819
Exchange rate adjustments
1.21 to item 1.20 325 3,796
---------------- -------------
1.22 Cash at end of quarter 42,632 42,632
----- ----------------------------- ---------------- -------------
Payments to directors of the entity, associates of the
directors, related entities of the entity and associates of the
related entities
Current quarter
$A'000
----------------
Aggregate amount of payments
to the parties included in item
1.23 1.2 192
----------------
1.24 Aggregate amount of loans to
the parties included in item
1.10
------- ---------------------------------- ----------------
1.25 Explanation necessary for an understanding
of the transactions
1. Payment of directors remuneration.
----------------------------------------------------
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 for an understanding of the position.
Amount available Amount used
$A $A
3.1 Loan facilities $135,016,000 $81,974,000
(GBP70,000,000) (GBP42,500,000)
Project bond facility $9,644,000 $9,644,000
* (GBP5,000,000) (GBP5,000,000)
----------------- -----------------
3.2 Credit standby arrangements
----------------- -----------------
* The senior debt facilities include a GBP5,000,000
bond facility which has been utilised for the
Hemerdon project restoration bond.
------------------------------------------------------------------------
Estimated cash outflows for next quarter
$A'000
---------
4.1 Exploration and evaluation -
---------
4.2 Development 37,735
---------
4.3 Production -
---------
4.4 Administration 2,899
---------
Total 40,634
---- --------------------------- ---------
Reconciliation of cash
Reconciliation of cash Current quarter Previous quarter
at the end of the quarter $A'000 $A'000
(as shown in the consolidated
statement of cash flows)
to the related items in
the accounts is as follows.
--------------------------------- ---------------- -----------------
Cash on hand and at
5.1 bank 22,235 20,546
---------------- -----------------
5.2 Deposits at call 145 145
---------------- -----------------
5.3 Bank overdraft - -
---------------- -----------------
Other (provide details)
5.4 ** 20,252 20,006
---------------- -----------------
Total: cash at end of
quarter (item 1.22) 42,632 40,697
----- -------------------------- ---------------- -----------------
** Other includes a cost over-run account of GBP10,500,000 able
to be utilised on project costs if required.
Changes in interests in mining tenements and petroleum
tenements
Tenement Nature of interest Interest Interest
reference (note (2)) at beginning at end
and of quarter of quarter
location
----------- ------------------- -------------- ------------
6.1 Interests
in mining N/A N/A
tenements
and petroleum
tenements
relinquished,
reduced or
lapsed
----------- ------------------- -------------- ------------
6.2 Interests N/A N/A
in mining
tenements
and petroleum
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 Issue price Amount paid
quoted per security up per security
(see note (see note
3) 3)
------------------------ ------------- ------------- ---------------- -----------------
7.1 Preference
+securities
(description)
------------- ------------- ---------------- -----------------
7.2 Changes
during
quarter
(a) Increases
through
issues
(b) Decreases
through
returns
of capital,
buy-backs,
redemptions
----- ----------------- ------------- ------------- ---------------- -----------------
+Ordinary
7.3 securities 808,560,412 808,560,412
------------- ------------- ---------------- -----------------
7.4 Changes (a) (a) (a) (a)
during Options Options Options Options
quarter exercise exercise exercise exercise
(a) Increases 478,012 478,012 $0.333 $0.333
through 100,418 100,418 $0.3898 $0.3898
issues
(b) Decreases Director Director Director Director
through share issue share issue share issue share issue
returns 136,366 136,366 Nil
of capital, Nil
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 Options
& Rights 524,086 - Exercise Expiry 19
(description Price $0.333 July 2015
and conversion 223,882 - Exercise
factor) Price $0.3898 Expiry 19
529,845 - Exercise July 2015
Price $0.333
226,342 - Exercise Expiry 16
Price $0.3898 October
850,000 - Exercise 2015
Price $0.34 Expiry 16
529,845 - Exercise October
Price $0.333 2015
226,342 - Exercise Expiry 30
Price $0.3898 November
172,776 - Exercise 2015
Price $0.333 Expiry 1
73,807 - Exercise January
Price $0.3898 2016
3,200,000 - Exercise Expiry 1
Price $0.264 January
Rights 2016
Expiry 30
366,945 - Exercise January
Price 2016
1,461,429 - Nil Expiry 30
Exercise January
1,491,989 - Price 2016
Nil Expiry 22
Exercise May 2016
Price
Nil
Expiry 22
December
2020
Vesting
Date 30
June 2016
Vesting
Date 30
June 2017
------------- ------------- ---------------- -----------------
7.8 Issued - - - -
during
quarter
------------- ------------- ---------------- -----------------
7.9 Exercised Options
during 478,012 - Exercise Expiry 1
quarter Price $0.333 April 2015
100,418 - Exercise
Price $0.3898 Expiry 1
April 2015
------------- ------------- ---------------- -----------------
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 Actor other standards acceptable to ASX (see note
5).
2 This statement does give a true and fair view of the matters disclosed.
Sign here: Richard Lucas Date: 24 April 2015
(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 and petroleum 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 or petroleum 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 6: Exploration for
and Evaluation of Mineral Resources and AASB 107: Statement of Cash
Flows apply to this report.
5 Accounting Standards ASX will accept, for example, the use of
International Financial Reporting 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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