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EMETALS LIMITED — Interim / Quarterly Report 2017
Jul 30, 2017
64850_rns_2017-07-30_ee474c32-3ec4-4676-892d-c42715604563.pdf
Interim / Quarterly Report
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CORIZON LIMITED
ASX: CIZ
31 July 2017
The Manager
Market Announcements Office
Level 40, Central Park, 152-158 St George's Terrace
PERTH WA 6000
CORIZON QUARTERLY REPORT TO 30 JUNE 2017
The Directors of Corizon Limited (ASX: CIZ) ("Corizon" or the "Company") are please submit the Quarterly Activities Report for the quarter ending 30 June 2017.
Operations
The Company continues to appraise new acquisition opportunities in order to generate shareholder value and satisfy ASX Listing Rule requirements to remove its suspension from official quotation. The Company has decided to focus on the mining sector in this regard as it deems such opportunities more consistent with the objective of shareholder value generation at this time.
Should the Company enter into any agreement regarding a new acquisition that triggers the nature or scale provisions of Chapter 11 of the ASX listing Rules, the Company will call a meeting of shareholders, in accordance with all regulatory requirements, as soon as practically possible.
Corporate
As at 30 June 2017, the Corizon Limited share capital position was as follows:
| CATEGORY | ASX CODE | NUMBER |
|---|---|---|
| Issued Ordinary Shares | CIZ | 315,000,000 |
| Listed Options – Expiring 31 December 2017 | CIZOA | 109,343,200 |
Cash Position
The Company held $1,652,489 in cash as at 30th June 2017, compared to $1,722,400 at 31st March 2017. The Company has cash resources and liquidity for the near term. Net operating cash flow for the quarter was ($69,911).
For further information contact:
Mathew Walker
Director
Corizon Limited
[email protected]
Suite 9, 330 Churchill Avenue, Subiaco WA 6008 | PO Box 866, Subiaco WA 6904
P + 61 8 6489 1600 | F + 61 8 6489 1601 | ABN 71 142 411 390
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
Corizon Limited
ABN
71 142 411 390
Quarter ended ("current quarter")
30 June 2017
| Consolidated statement of cash flows | Current quarter $A'000 | Year to date (12 months) $A'000 | |
|---|---|---|---|
| 1. | Cash flows from operating activities | ||
| 1.1 | Receipts from customers | - | - |
| 1.2 | Payments for | ||
| (a) exploration & evaluation | - | - | |
| (b) development | - | - | |
| (c) production | - | - | |
| (d) staff costs | (35) | (141) | |
| (e) administration and corporate costs | (40) | (190) | |
| 1.3 | Dividends received (see note 3) | - | - |
| 1.4 | Interest received | 2 | 11 |
| 1.5 | Interest and other costs of finance paid | - | - |
| 1.6 | Income taxes paid | - | - |
| 1.7 | Research and development refunds | - | - |
| 1.8 | Other (GST Refund) | 3 | 10 |
| 1.9 | Net cash from / (used in) operating activities | (70) | (310) |
| 2. | Cash flows from investing activities | ||
| --- | --- | --- | --- |
| 2.1 | Payments to acquire: | ||
| (a) property, plant and equipment | - | - | |
| (b) tenements (see item 10) | - | - | |
| (c) investments | - | - | |
| (d) other non-current assets | - | - |
- See chapter 19 for defined terms
1 September 2016
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
| Consolidated statement of cash flows | Current quarter $A'000 | Year to date (12 months) $A'000 |
|---|---|---|
| 2.2 Proceeds from the disposal of: | ||
| (a) property, plant and equipment | ||
| (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) | - | - |
| 2.6 Net cash from / (used in) investing activities | - | - |
| 3. Cash flows from financing activities | ||
| --- | --- | --- |
| 3.1 Proceeds from issues of shares | - | - |
| 3.2 Proceeds from issue of convertible notes | - | - |
| 3.3 Proceeds from exercise of share options | - | - |
| 3.4 Transaction costs related to issues of shares, convertible notes or options | - | - |
| 3.5 Proceeds from borrowings | - | - |
| 3.6 Repayment of borrowings | - | - |
| 3.7 Transaction costs related to loans and borrowings | - | - |
| 3.8 Dividends paid | - | - |
| 3.9 Other (provide details if material) | - | - |
| 3.10 Net cash from / (used in) financing activities | - | - |
| 4. Net increase / (decrease) in cash and cash equivalents for the period | ||
| --- | --- | --- |
| 4.1 Cash and cash equivalents at beginning of period | 1722 | 1,962 |
| 4.2 Net cash from / (used in) operating activities (item 1.9 above) | (70) | (310) |
| 4.3 Net cash from / (used in) investing activities (item 2.6 above) | - | - |
| 4.4 Net cash from / (used in) financing activities (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 | 1,652 | 1,652 |
- See chapter 19 for defined terms
1 September 2016
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
| 5. | Reconciliation of cash and cash equivalents
at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts | Current quarter $A'000 | Previous quarter $A'000 |
| --- | --- | --- | --- |
| 5.1 | Bank balances | 48 | 121 |
| 5.2 | Call deposits | 1,604 | 1,601 |
| 5.3 | Bank overdrafts | - | - |
| 5.4 | Other (provide details) | - | - |
| 5.5 | Cash and cash equivalents at end of quarter (should equal item 4.6 above) | 1,652 | 1,722 |
6. Payments to directors of the entity and their associates
| 6.1 | Aggregate amount of payments to these parties included in item 1.2 | 35 |
|---|---|---|
| 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 of Director remuneration/fees, superannuation and provision of administration/consulting services.
7. Payments to related entities of the entity and their associates
| 7.1 | Aggregate amount of payments to these parties included in item 1.2 | 12 |
|---|---|---|
| 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 |
The Company engages Cicero Corporate Services Pty Ltd for administrative and company secretarial services. Mr Mathew Walker is a Director of Cicero Corporate Services Pty Ltd.
- See chapter 19 for defined terms
1 September 2016
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
8. Financing facilities available
Add notes as necessary for an understanding of the position
8.1 Loan facilities
8.2 Credit standby arrangements
8.3 Other (please specify)
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.
NA
| 9. | Estimated cash outflows for next quarter | $A'000 |
|---|---|---|
| 9.1 | Exploration and evaluation | |
| 9.2 | Development | 50 |
| 9.3 | Production | - |
| 9.4 | Staff costs | 35 |
| 9.5 | Administration and corporate costs | 65 |
| 9.6 | Other (provide details if material) | - |
| 9.7 | Total estimated cash outflows | 150 |
| 10. | Changes in tenements (items 2.1(b) and 2.2(b) above) | Tenement reference and location |
| --- | --- | --- |
| 10.1 | Interests in mining tenements and petroleum tenements lapsed, relinquished or reduced | - |
| 10.2 | Interests in mining tenements and petroleum tenements acquired or increased | - |
- See chapter 19 for defined terms
1 September 2016
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
Compliance statement
- This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
- This statement gives a true and fair view of the matters disclosed.
Sign here: ...
(Company secretary)
Date: ...31/7/17...
Print name: ...
Sonu Cheema...
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