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Alkane Resources — Interim / Quarterly Report 2016
Jan 29, 2017
48579_rns_2017-01-29_969d2138-4d9e-4052-ae6e-41c45b7f905b.pdf
Interim / Quarterly Report
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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
Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/13, 01/09/16
Name of entity
ALKANE RESOURCES LTD
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ABN
Quarter ended (“current quarter”)
| 35 000 689 216 | 35 000 689 216 | 31 December 2016 | |
|---|---|---|---|
| Consolidated statement of cash flows | Current quarter | Year to date | |
| $A’000 | (6 months) | ||
| $A’000 | |||
| 1. | Cash flows from operating activities | ||
| 1.1 | Receipts from customers | 20,859 | 37,132 |
| 1.2 | Payments for | ||
| (a) exploration & evaluation | (2,864) | (4,810) | |
| (b) development | (9,562) | (18,542) | |
| (c) production | (6,448) | (18,643) | |
| (d) staff costs(administration and corporate) | (680) | (1,408) | |
| (e) administration and corporate costs | (951) | (1,957) | |
| 1.3 | Dividends received (see note 3) | - | - |
| 1.4 | Interest received | 119 | 216 |
| 1.5 | Interest and other costs of finance paid | (164) | (267) |
| 1.6 | Income taxes paid | - | - |
| 1.7 | Research and development refunds | - | - |
| 1.8 | Other(includes minerals royalties) | (525) | (1,373) |
| 1.9 | Net cash from / (used in) operating activities |
(216) | (9,652) |
| 2. | Cash flows from investing activities | ||
| 2.1 | Payments to acquire: | ||
| (a) property, plant and equipment | (414) | (998) | |
| (b) tenements (see item 10) | - | (75) | |
| (c) investments | - | - | |
| (d) other non-current assets | - | - |
- See chapter 19 for defined terms 1 September 2016
Page 1
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
| Consolidated statement of cash flows | Consolidated statement of cash flows | Current quarter | Year to date |
|---|---|---|---|
| $A’000 | (6 months) | ||
| $A’000 | |||
| 2.2 | Proceeds from the disposal of: | ||
| (a) property, plant and equipment | 4 | 17 | |
| (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) | (10) | (10) |
| 2.6 | Net cash from / (used in) investing activities |
(420) | (1,066) |
| 3. | Cash flows from financing activities | ||
| 3.1 | Proceeds from issues of shares | - | 4,141 |
| 3.2 | Proceeds from issue of convertible notes | - | - |
| 3.3 | Proceeds from exercise of share options | - | - |
| 3.4 | Transaction costs related to issues of | (2) | (670) |
| shares, convertible notes or options | |||
| 3.5 | Proceeds from borrowings | 912 | 7,912 |
| 3.6 | Repayment of borrowings | (2,381) | (4,403) |
| 3.7 | Transaction costs related to loans and | - | (280) |
| borrowings | |||
| 3.8 | Dividends paid | - | - |
| 3.9 | Other (provide details if material) | - | - |
| 3.10 | Net cash from / (used in) financing activities |
(1,471) | 6,700 |
| 4. | Net increase / (decrease) in cash and | ||
| cash equivalents for the period | |||
| 4.1 | Cash and cash equivalents at beginning of | ||
| period | 22,544 | 24,455 | |
| 4.2 | Net cash from / (used in) operating | (216) | (9,652) |
| activities (item 1.9 above) | |||
| 4.3 | Net cash from / (used in) investing activities | (420) | (1,066) |
| (item 2.6 above) | |||
| 4.4 | Net cash from / (used in) financing activities | (1,471) | 6,700 |
| (item 3.10 above) | |||
| 4.5 | Effect of movement in exchange rates on | - | - |
| cash held | |||
| 4.6 | Cash and cash equivalents at end of period |
20,437 | 20,437 |
- See chapter 19 for defined terms 1 September 2016
Page 2
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
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5. Reconciliation of cash and cash Current quarter Previous quarter
equivalents $A’000 $A’000
at the end of the quarter (as shown in the
consolidated statement of cash flows) to the
related items in the accounts
5.1 Bank balances 5,817 6,495
5.2 Call deposits 5,000 5,000
5.3 Bank overdrafts - -
5.4 Other (31 day notice deposit) 9,620 11,049
5.5 Cash and cash equivalents at end of
20,437 22,544
quarter (should equal item 4.6 above)
6. Payments to directors of the entity and their associates Current quarter
$A'000
6.1 Aggregate amount of payments to these parties included in item 1.2 $177
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
Payments to directors and/or companies associated with directors for: $A’000
- Directors fees/corporate consulting fees $ 78
- Executive director salary and superannuation $ 99
7. Payments to related entities of the entity and their Current quarter
associates $A'000
7.1 Aggregate amount of payments to these parties included in item 1.2 $62
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
Payments to related entities of the entity and their associates $A’000
- Administration/accounting and company secretarial fees $ 53
- IT consulting fees and services $ 9
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- See chapter 19 for defined terms 1 September 2016
Page 3
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
| 8. | Financing facilities available | Total facility amount | Amount drawn at |
|---|---|---|---|
| Add notes as necessary for an | at quarter end | quarter end | |
| understanding of the position | $A’000 | $A’000 | |
| 8.1 | Loan facilities | 8,053 | 3,000 |
| 8.2 | Credit standby arrangements | ||
| 8.3 | Other (please specify) | 547 | 547 |
- 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.
Loan facility details
-
Lender – Macquarie Bank Limited
-
Project Loan Facility of $3.0M fully drawn at balance date, interest rate 6.22%.
-
Performance bond facility of $5.1M was not drawn at balance date. Drawdown of the full facility was made in January.
-
Both facilities are secured over all of the assets of subsidiary Tomingley Gold Operations Pty Ltd and supported by a guarantee provided by Alkane Resources Ltd.
Other
- Consists of the unamortised balance of a Group insurance premium funding facility
| 9. | Estimated cash outflows for next quarter | $A’000 | |
|---|---|---|---|
| 9.1 | Exploration and evaluation | 3,500 | |
| 9.2 | Development | 7,300 | |
| 9.3 | Production | 19,000 | |
| 9.4 | Staff costs(administration and corporate) | 700 | |
| 9.5 | Administration and corporate costs | 900 | |
| 9.6 | Other(mineral royalties, property plant and equipment, repayment of borrowings) |
1,500 | |
| 9.7 | Total estimated cash outflows | 32,900 |
| 10. | Changes in | Tenement | Nature of interest | Interest at | Interest |
|---|---|---|---|---|---|
| tenements | reference | beginning | at end of | ||
| (items 2.1(b) and | and | of quarter | quarter | ||
| 2.2(b) above) | location | ||||
| 10.1 | Interests in mining | ||||
| tenements and | |||||
| petroleum tenements | |||||
| lapsed, relinquished | |||||
| or reduced | |||||
| 10.2 | Interests in mining | Elsienora, | |||
| tenements and | NSW | ||||
| petroleum tenements acquired or increased |
ELA 5364 Rockley |
Application | 0% | 100% | |
| NSW | |||||
| ELA 5403 | Application | 0% | 100% |
- See chapter 19 for defined terms 1 September 2016
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Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
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.
Sign here: ........[ signed] ............................. Date: 30/01/2017 ( ~~Director/~~ Company secretary)
Print name: Karen E V Brown
Notes
-
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.
-
If this quarterly report has been prepared in accordance with Australian Accounting Standards, 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. 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 standards apply to this report.
-
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.
-
See chapter 19 for defined terms 1 September 2016
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Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
ITEM 6.1 & 6.2 Schedule of mining tenements –as at 31 December 2016
| Project/Location | Tenement | Interest | Nature of interest |
|---|---|---|---|
| Peak Hill, NSW | GL 5884 (Act 1904) | 100% | Equity |
| ML 6036 | 100% | Equity | |
| ML 6042 | 100% | Equity | |
| ML 6277 | 100% | Equity | |
| ML 6310 | 100% | Equity | |
| ML 6389 | 100% | Equity | |
| ML 6406 | 100% | Equity | |
| ML 1351 | 100% | Equity | |
| ML 1364 | 100% | Equity | |
| ML 1479 | 100% | Equity | |
| EL 6319 | 100% | Equity | |
| Dubbo, NSW | EL 5548 | 100% | Equity through subsidiary |
| EL 7631 | 100% | Equity through subsidiary | |
| ML 1724 | 100% | Equitythrough subsidiary | |
| Wellington, NSW | EL 6320 | 100% | Equity |
| Tomingley, NSW | EL 5675 | 100% | Equity |
| EL 5830 | 100% | Equity | |
| EL 5942 | 100% | Equity | |
| EL 6085 | 100% | Equity | |
| ML 1684 | 100% | Equitythrough subsidiary | |
| Cudal, NSW | EL 7020 | 100% | Equity |
| EL 8340 | 100% | Equity | |
| Bodangora, NSW | EL 4022 | 100% | Equity |
| EL 6209 | 100% | Equity (subject to royaltyof 2% net smelter return) | |
| Finns Crossing, NSW | EL 8261 | 100% | Equity |
| Rockley, NSW | EL 8170 | 100% | Equity |
| EL 8194 | 100% | Equity | |
| ELA 5403 | 100% | Application | |
| Elsienora, NSW | EL 6082 | 100% | Equity |
| EL 6767 | 100% | Equity | |
| ELA 5364 | 100% | Application | |
| Orange East, NSW | EL 8442 | 0% | Right to earn 60% to 80% |
| Nullagine, WA | EL 46/522-I | 0% | 60% retained interest in diamond potential |
| EL 46/523-I | 0% | 60% retained interest in diamond potential | |
| EL 46/524 | 0% | 60% retained interest in diamondpotential | |
| Miranda Well, WA | M 36/303 | 19.4% | Equity- ANI holds 80.6% |
| McDonough Lookout, WA | M 36/329 & 330 | 19.4% | Equity- ANI holds 80.6% |
| ANI Australian Nickel |
Investments Pty Limited |
- See chapter 19 for defined terms 1 September 2016
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