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Appendix 5B - Mining exploration entity quarterly report
Appendix 5B
Mining exploration entity quarterly report
Rule 5.3
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Name of entity
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AUSTRALIAN MINES LIMITED - AUZ
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ABN
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Quarter ended ("current quarter")
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68 073 914 191
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30 June 2016
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Consolidated statement of cash flows
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Cash flows related to operating activities
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Current Quarter
$A
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Year to Date (12 Months)
$A
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1.1
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Receipts from product sales and related debtors
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(373,813)
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(1,209,916)
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1.2
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Payments for: (a) exploration & evaluation
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(b) development
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-
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-
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(c) production
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-
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-
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(d) administration
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(191,681)
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(578,052)
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1.3
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Dividends received
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-
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-
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1.4
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Interest and other items of a similar nature received
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6,599
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13,866
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1.5
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Interest and other costs of finance paid
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-
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-
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1.6
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Income taxes paid
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-
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-
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1.7
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Other
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-
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230
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Net Operating Cash Flows
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(558,895)
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(1,773,872)
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Cash flows related to investing activities
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-
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-
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1.8
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Payment for purchases of: (a)prospects
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(b)equity investments
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-
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-
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(c) other fixed assets
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-
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-
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1.9
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Proceeds from sale of: (a) prospects
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-
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-
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(b) equity investments
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-
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-
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(c) other fixed assets
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-
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-
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1.10
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Loans to other entities
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-
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-
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1.11
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Loans repaid by other entities
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-
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-
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1.12
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Other
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-
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-
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Net Investing Cash Flows
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-
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-
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1.13
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Total operating and investing cash flows (carried forward)
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(558,895)
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(1,773,872)
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1.13
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Total operating and investing cash flows (brought forward)
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(558,895)
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(1,773,872)
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Cash flows related to financing activities
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1,470,683
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2,893,677
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1.14
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Proceeds from issues of shares, options, etc. net of costs
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1.15
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Proceeds from sale of forfeited shares
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-
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-
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1.16
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Proceeds from borrowings
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-
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-
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1.17
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Repayment of borrowings
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-
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-
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1.18
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Dividends paid
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-
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-
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1.19
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Other (provide details if material)
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-
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-
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Net financing cash flows
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1,470,683
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2,893,677
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Net increase (decrease) in cash held
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911,788
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1,119,805
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1.20
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Cash at beginning of quarter/year to date
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605,127
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397,110
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1.21
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Exchange rate adjustments to item 1.20
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-
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-
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1.22
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Cash at end of quarter
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1,516,915
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1,516,915
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Payments to directors of the entity and associates of the directors
Payments to related entities of the entity and associates of the related entities
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Current Quarter
$A
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1.23
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Aggregate amount of payments to the parties included in item 1.2
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99,750
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1.24
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Aggregate amount of loans to the parties included in item 1.10
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-
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1.25 Explanation necessary for an understanding of the transactions
Executive and Non-Executive Directors Fees and Superannuation.
Non-cash financing and investing activities
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2.1
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Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows
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2.2
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Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest
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Financing facilities available
Add notes as necessary for an understanding of the position.
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Amount Available
$A
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Amount Used
$A
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3.1
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Loan facilities -
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-
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-
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3.2
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Credit standby arrangements
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-
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-
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Estimated cash outflows for next quarter
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$A
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4.1
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Exploration and evaluation
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310,000
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4.2
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Development
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-
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4.3
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Production
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-
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4.4
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Administration
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105,000
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Total
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415,000
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Reconciliation of cash
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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.
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Current Quarter
$A
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Previous Quarter
$A
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5.1
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Cash on hand and at bank
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1,505,115
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593,327
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5.2
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Deposits at call
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-
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-
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5.3
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Bank overdraft
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-
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-
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5.4
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Other (provide details) - Security bonds, restricted
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11,800
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11,800
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Total: cash at end of quarter (item 1.22)
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1,516,915
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605,127
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Changes in interests in mining tenements
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Tenement reference
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Nature of interest (note (2))
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Interest at beginning of quarter
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Interest at end of quarter
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-
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-
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-
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-
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Western AustraliaE80/4820 E80/4896 E80/4897
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Arunta West Joint Venture (see below)
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0%
0%
0%
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0%
0%
0%
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-
Interests in mining tenements relinquished, reduced or lapsed
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Interests in mining tenements acquired or increased
Arunta West Joint Venture
During the quarter, Australian Mines entered into a joint venture with Jervois Mining Limited (ASX: JRV) covering the Arunta West Project. Under this joint venture agreement, Australian Mines has the right to farm into Jervois Mining's three exploration licenses of E80/4820 (granted), E80/4896 (under application) and E80/4897 (under application), which cover a total area of approximately 345 square kilometres.
The key terms of this agreement include:
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Australian Mines must spend a minumum of $350,000 on exploration within 24 months of the signing of this agreement to acquire a 51% interest in the Arunta West Project.
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Following the acquistion of the intial 51%, Australian Mines may elect to acquire an additional 29% (taking the total to 80%) in the Arunta West Project by spending a further $3.15 million on exploration within a further 24 month period.
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Once Australian Mines has satisified its earn-in obligations, with a resulting joint venture interest of either 51% or 80%, Jervois Mining may elect to contribute on a pro-rata basis or dilute their interest according to the standard industry formula.
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Australian Mines will be the operator and manager of the Project.
Further details are available in Australian Mines' announcement dated 23 May 2016 and titled Australian Mines expands its gold and copper exploration through Central Australian joint venture
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.
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Total number
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Number quoted
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Issue price per security (see note 3) (cents)
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Amount paid up per security (see note 3) (cents)
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7.1
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Preference +securities
(description)
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-
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-
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7.2
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Changes during quarter
-
Increases through issues
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Decreases through returns of capital, buy-backs, redemptions
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-
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-
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7.3
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+Ordinary securities
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1,101,986,521
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1,101,986,521
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7.4
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Changes during quarter
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Increases through issues
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Decreases through returns of capital, buy-backs
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75,000,000
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75,000,000
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$0.02
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$0.02
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7.5
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+Convertible debt securities (description)
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-
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-
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