MHM Metals Limited T: +613 9692 7222
Level 4, 100 Albert Road F: +613 9077 9233 South Melbourne E: [email protected]
VIC 3205 AUSTRALIA www.mhmmetals.com
ASX Announcement
Thursday 28 July 2016
MHM QUARTERLY ACTIVITIES REPORT
MHM Metals (ASX: MHM) is pleased to provide the following Quarterly Activities Report for the period ended 30 June 2016.
|
Ordinary shares on issue: Market Cap (at 3.5c):
Cash and investments (as at 30 June 2016):
|
136,228,616
$4,768,001
$8,140,000
|
Corporate
During the Quarter, the company acquired a total of 4,890,540 shares under the Small Share Parcel Buy-Back facility which were immediately cancelled, reducing the company share count to 136,228,616 at a cost of
$161,388.
The Company also finalised the sale of its US property resulting in net proceeds of approximately USD$507,000.
As at 30 June 2016, the Company held cash and deposits totalling
$7,484,000 and investments valued at c$656,000, for a total cash and investments position of c$8,140,000.
Subsequent to the Quarters end, the Conditional agreement for the sale of the Company's Moolap property was terminated, due to non-satisfaction of the conditions precedent.
Business Development
On 12 July 2016 the Company announced to the market that it had become a significant shareholder in KIN Mining NL (ASX: KIN). In this capacity it sought to discuss an indicative, non-binding merger proposal with KIN. On 14 July 2016 KIN advised the market that it was unwillingly to discuss the proposal with the Company and MHM ceased to be a substantial shareholder on 19 July 2016.
With its significant cash reserves, the Company continues to advance a number of potential opportunities it has identified in the resource sector where its balance sheet and management experience can be applied to add value to the benefit of MHM shareholders.
Trading in MHM shares will remain suspended on ASX until such time as the Company has identified a suitable new opportunity and has met the necessary requirements under ASX Listing Rule 11.1 that may apply in relation to that opportunity (including re-complying with Chapters 1 and 2 of the ASX Listing Rules, to the extent required).
END
For more information:
Company Snapshot Capital Structure
Directors
Paul Kopejtka (Non- Executive Chairman) Joseph van den Elsen (Managing Director) Chris Goodman (Non-Executive Director)
Company Secretary
Justin Mouchacca
MHM Metals Limited
Joseph van den Elsen, Managing Director: +61 (3) 9692 7222
MHM Metals Limited ABN 41 124 212 175
Registered Office: Level 1, 100 Albert Road, South Melbourne, VIC 3205 | Tel: 03 9692 7222| Fax: 03 9077 9233 | E: [email protected] | www.mhmmetals.com
Appendix 5B Mining exploration entity quarterly report
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
|
|
MHM METALS LIMITED
|
|
ABN
|
Quarter ended ("current quarter")
|
|
41 124 212 175
|
30 June 2016
|
Consolidated statement of cash flows
|
Cash flows related to operating activities
|
Current quarter
$A'000
|
Year to date
(12 months) $A'000
|
|
1.1
|
Receipts from product sales and related debtors
|
-
|
222
|
|
1.2
|
Payments for:
-
Exploration & evaluation
-
US Development
-
Production
-
Administration
|
-
-
- (466)
|
(25)
- (172)
(1,519)
|
|
1.3
|
Dividends received
|
-
|
-
|
|
1.4
|
Interest received
|
27
|
80
|
|
1.5
|
Interest and other costs of finance paid
|
-
|
-
|
|
1.6
|
Income tax refund - R & D Refund
Interest received - R & D refund
|
-
-
|
7,663
8
|
|
1.7
|
Other (provide details if material)
GST Refund
Moolap Remediation Redundancy costs Brightstar Project Costs
|
26
-
-
-
|
35
(100)
(158)
(171)
|
|
Net Operating Cash Flows
|
(413)
|
5,863
|
|
Cash flows related to investing activities
|
- (334)
-
-
|
- (334)
-
-
|
|
1.8
|
Payment for purchases of:
-
prospects
-
equity investments
-
other fixed assets
-
Aluminium processing activities
|
|
1.9
|
Proceeds from sale of:
-
prospects
-
equity investments
-
other fixed assets
|
-
- 674
|
-
- 702
|
|
1.10
|
Loans to other entities
|
-
|
-
|
|
1.11
|
Loans repaid by other entities
|
-
|
-
|
|
1.12
|
Other (deposits received)
- Reclassification of Term Deposit
|
-
|
85
|
|
Net investing cash flows
|
340
|
453
|
|
1.13
|
Total operating and investing cash flows (carried forward)
|
(73)
|
6,316
|
+ See chapter 19 for defined terms.
01/05/2010 Appendix 5B Page 1
Appendix 5B
Mining exploration entity quarterly report
|
1.13
|
Total operating and investing cash flows (brought forward)
|
(73)
|
6,316
|
|
Cash flows related to financing activities
|
-
|
200
|
|
1.14
|
Proceeds from issues of shares, options, etc.
|
|
1.15
|
Proceeds from sale of forfeited shares
|
-
|
-
|
|
1.16
|
Proceeds from borrowings
|
-
|
-
|
|
1.17
|
Repayment of borrowings
|
-
|
(250)
|
|
1.18
|
Dividends paid
|
-
|
-
|
|
1.19
|
Other (provide details if material)
|
(161)
|
(161)
|
|
Net financing cash flows
|
(161)
|
(211)
|
|
Net increase (decrease) in cash held
|
(234)
|
6,105
|
|
1.20
|
Cash at beginning of quarter/year to date
|
7,705
|
1,358
|
|
1.21
|
Exchange rate adjustments to item 1.20
|
13
|
21
|
|
1.22
|
Cash at end of quarter
|
7,484
|
7,484
|
Payments to directors of the entity, associates of the directors, related entities of the entity and associates of the related entities
|
Curent quarter
$A'000
|
|
1.23
|
Aggregate amount of payments to the parties included in item 1.2
|
204
|
|
1.24
|
Aggregate amount of loans to the parties included in item 1.10
|
-
|
1.25 Explanation necessary for an understanding of the transactions
Directors' fees and Executive salaries paid during the June 2016 quarter.
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
|
|
-
|
+ See chapter 19 for defined terms.
Appendix 5B Page 2
Appendix 5B Mining exploration entity quarterly report
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
|
-
|
-
|
|
3.2
|
Credit standby arrangements
|
-
|
-
|
Estimated cash outflows for next quarter
|
$A'000
|
|
4.1
|
Exploration and evaluation
|
(125)
|
|
4.2
|
Development
|
-
|
|
4.3
|
Production
|
-
|
|
4.4
|
Administration
|
(225)
|
|
4.5
|
Other - Moolap remediation
|
|
Total
|
(350)
|
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.
|
Curent quarter
$A'000
|
Previous quarter
$A'000
|
|
5.1
|
Cash on hand and at bank
|
2,077
|
1,304
|
|
5.2
|
Deposits at call
|
5,034
|
6,033
|
|
5.3
|
Bank overdraft
|
-
|
-
|
|
5.4
|
Other - MHM has provided a guarantee to Alcoa in connection with an operating lease.
|
373
|
368
|
|
Total: cash at end of quarter (item 1.22)
|
7,484
|
7,705
|
Changes in interests in mining tenements and petroleum tenements
|
Tenement reference and location
|
Nature of interest (note (2))
|
Interest at beginning of quarter
|
Interest at end of quarter
|
|
-
|
-
|
-
|
-
|
|
-
|
-
|
-
|
-
|
-
Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed
-
Interests in mining tenements and petroleum tenements acquired or increased
+ See chapter 19 for defined terms.
01/05/2010 Appendix 5B Page 3