MC MINING LIMITED — Interim / Quarterly Report 2009

Oct 29, 2009

Appendix 5B Mining exploration entity quarterly report

Rule 5.3

Appendix 5B

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.

Name of entity

	Coal of Africa Limited
	ABN 98 008 905 388 Consolidated statement of cash flows
			30 September 2009
Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration and evaluation (b) development (c) production (d) administration 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other NetOperating Cash Flows		Current quarter $A’000		Year to date (3 months) $A’000
		8,693 (2,127) (21,829) (3,629) (6,576) 558 (28) (18) -		8,693 (2,127) (21,829) (3,629) (6,576) 558 (28) (18) -
		(24,956)		(24,956)
Cash flows related to investing activities 1.8 Payment for purchases of: (a)prospects (b)equity investments (c) other fixed assets 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 – Note 6) Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)		- (8,173) (6,886) - - - - - -		- (8,173) (6,886) - - - - - -
		(15,059)		(15,059)
		(40,015)		(40,015)

• See chapter 19 for defined terms.

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1.13 Total operating and investing cash flows (brought forward)	(40,015)	(40,015)
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc.(net) see note 7.4 below 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other (Exchange rate related movements in foreign borrowings and reserves) Net financing cash flows	- - - - - -	- - - - - -
	-	-
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end of quarter	(40,015) 87,033 12	(40,015) 87,033 12
	47,030	47,030

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

1.23 Aggregate amount of payments to the parties included in item 1.2 1.24 Aggregate amount of loans to the parties included in item 1.10	Current quarter $A'000
	218
	-

• 1.25 Explanation necessary for an understanding of the transactions

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.

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Appendix 5B Mining exploration entity quarterly report

Financing facilities available

Add notes as necessary for an understanding of the position.

3.1 Loan facilities 3.2 Credit standby arrangements	Amount available $A’000	Amount used $A’000
	-	-
	4,476	206

Estimated cash outflows for next quarter

Estimated cash outflows for next quarter
4.1 Exploration and evaluation 4.2 Development	$A’000
	(2,200)
	(30,000)
Total	(32,200)

Reconciliation of cash

Reconciliation of cash at the end of the quarter (as	Reconciliation of cash at the end of the quarter (as	Current quarter		Previous quarter
shown in the consolidated statement of cash flows) to		$A’000		$A’000
the related items in the accounts is as follows.
5.1	Cash on hand and at bank		7,135		1,576
5.2	Deposits at call		40,101		86,618
5.3	Bank overdraft		(206)		(1,162)
5.4	Other (provide details)
			-		-
	Total: cash at end of quarter(item 1.22)		47,030		87,032

Changes in interests in mining tenements

6.1 Interests in mining tenements relinquished, reduced or lapsed	Tenement reference	Nature of interest (note(2))	Interest at beginning ofquarter	Interest at end of quarter

• See chapter 19 for defined terms.

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6.2 Interests in mining tenements acquired or increased	Tenement reference	Nature of interest (note(2))	Interest at beginning ofquarter	Interest at end of quarter
	Alyth 837 MS	-	-	100%

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 quoted	Issue price per security (see note 3) (cents)	Amount paid up per security (see note 3) (cents)
7.1 Preference +securities (description) 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs, redemptions
7.3 +Ordinary securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs	411,375,378	411,375,378
7.5 +Convertible debt securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted
7.7 Options (description and conversion factor) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	20,684,114	Nil	Exercise price See Note 7	Expiry date See Note 7
	Nil	Nil	Exercise price See Note 7	Expiry date See Note 7
	Nil	Nil
	Nil	Nil
7.11 Debentures (totals only)

• See chapter 19 for defined terms.

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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 Act or other standards acceptable to ASX (see note 4).

• 2 This statement does give a true and fair view of the matters disclosed.

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Sign here: ............................................... Managing Director Print name: Simon Farrell

Date: 30 October 2009

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 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, 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 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.

• 5 Accounting Standards ASX will accept, for example, the use of International Accounting 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.

• 7 Issued and Quoted Options as at 30 September 2009:

Number Issued	Number		Exercise	Expiry Date	Lapsed Since
	Quoted		Price		End of quarter
9,200,000		-	A$0.50	30 September 2011	-
7,000,000		-	A$1.25	30 September 2012	-
636,544		-	GBP0.65	30 November 2009	-

• See chapter 19 for defined terms.

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250,000	-	A$2.05	1 May 2012	-
1,000,000	-	A$1.90	30 September 2012	-
600,000	-	A$1.25	1 May 2012	-
1,650,000	-	A$3.25	31 July 2010	-

• See chapter 19 for defined terms.

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