Chalice Gold Mines Limited : Appendix 5B -Quarter Ended 31 March 2012
04/26/2012 | 06:49am
Appendix 5B Mining exploration entity quarterly report Appendix 5B Mining
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
Name of entity
CHALICE GOLD MINES LIMITED
Rule 5.3
ABN Quarter ended ("current quarter")
47 116 648 956 31 March 2012
Consolidated statement of cash flows
Cash flows related to operating activities
Current quarter
$A'000
Year to date
(9 months)
$A'000
1.1
Receipts from product sales and related debtors
42
146
1.2
Payments for (a) exploration & evaluation
(b) development
(c) production
(d) administration
(1,037) (597)
- (863)
(6,632) (1,464)
- (2,382)
1.3
Dividends received
-
-
1.4
Interest and other items of a similar nature received
51
251
1.5
Interest and other costs of finance paid
-
-
1.6
Income taxes paid
-
-
1.7
Other - GST
11
73
Net Operating Cash Flows
(2,393)
(10,008)
Cash flows related to investing activities
1.8
Payment for purchases of: (a) prospects
(b) equity investments
(c) other fixed assets
-
- (110)
-
- (356)
1.9
Proceeds from sale of: (a) prospects
(b) equity investments
(c) other fixed assets
2,895
-
-
2,895
-
-
1.10
Loans to other entities
-
-
1.11
Loans repaid by other entities
1,051
2,133
1.12
Other (provide details if material)
(167)
(167)
Net investing cash flows
3,669
4,505
1.13
Total operating and investing cash flows (carried forward)
1,276
(5,503)
+ See chapter 19 for defined terms.
17/12/2010 Appendix 5B Page 1
Appendix 5B Mining exploration entity quarterly report
Cash flows related to financing activities
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
1.18 Dividends paid
1.19 Other
Net financing cash flows
Payments to directors of the entity and associates of the directors Payments
to related entities of the entity and associates of the related entities
Current quarter
$A'000
1.2 Aggregate amount of payments to the parties included in item 1.2 173
-
1.2 Aggregate amount of loans to the parties included in item 1.10
1.2 Explanation necessary for an understanding of the transactions
Item 1.9(a) - Represents an interim payment of US$3 million from ENAMCO for
ENAMCO's acquisition of a 30 per cent interest in the Zara Gold Project in
Eritrea. The balance of ~US$31 million (including reimbursement of certain
costs) is payable on completion of the sale to China SFECO Group.
Item 1.11 - Relates to the contribution received from the Eritrean National
Mining Corporation ("ENAMCO") for funds owed to Zara Mining Share Company
for exploration and development of the Zara Project in Eritrea (see 2.1
below).
Item 1.2 - Amounts paid to related parties include remuneration, directors'
fees, consulting fees
and reimbursements of out of pocket expenses to directors.
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
Under the terms of the Shareholders Agreement between Chalice and ENAMCO, as
at 31 December
2011, ENAMCO are required to contribute ~US$4.0 million towards exploration
and development costs at the Zara Project to bring them in line with their
contribution obligations given that Chalice has been funding the project
since 1 April 2011. After period end and until the date of this report,
ENAMCO have contributed ~US$2.2 million and will continue to be the sole
contributor until such time as they have met their share of pro-rata costs
since 1 April 2011. After ENAMCO have contributed ~US$4.0 million, both
Chalice and ENAMCO will revert to funding the Zara Project on a
two-thirds/one-third basis (or until completion of the proposed sale of the
Zara Project to China SFECO Group).
+ See chapter 19 for defined terms.
Appendix 5B Page 2 17/12/2010
Appendix 5B Mining exploration entity quarterly report
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
Nil
Financing facilities available
Add notes as necessary for an understanding of the position.
3.1 Loan facilities
3.2 Credit standby arrangements
Estimated cash outflows for next quarter
$A'000
4.1
Exploration and evaluation
1,147
4.2
Development
253
4.3
Production
-
4.4
Administration
878
Total
2,278
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.
Current quarter
$A'000
Previous quarter
$A'000
5.1
Cash on hand and at bank
3,702
1,975
5.2
Deposits at call
1,048
1,533
5.3
Bank overdraft
-
-
5.4
Other (provide details)
-
-
Total: cash at end of quarter (item 1.22)
4,750
3,508
+ See chapter 19 for defined terms.
17/12/2010 Appendix 5B Page 3
Appendix 5B Mining exploration entity quarterly report Changes in interests
in mining tenements
6.1 Interests in mining tenements relinquished, reduced or lapsed
6.2 Interests in mining tenements acquired or increased
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.
7.5 +Convertible debt securities (description)
7.6 Changes during quarter
(a) Increases through issues
(b) Decreases through securities matured, converted
+ See chapter 19 for defined terms.
Appendix 5B Page 4 17/12/2010
Appendix 5B Mining exploration entity quarterly report
7.7
Options (description and conversion
factor)
500,000
500,000
1,250,000
1,250,000
750,000
187,500
187,500
375,000
750,000
2,500,000
100,000
Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil
Exercise price
$0.25
$0.20
$0.35
$0.45
$0.50
$0.55
$0.65
$0.75
$0.45
$0.50
$0.45
Expiry date
1 December 2012
31 July 2013
31 March 2014
31 March 2014
1 September 2012
30 April 2014
30 April 2014
30 April 2014
14 September 2014
30 November 2014
30 November 2014
Performance Rights
500,000
400,000
Nil
Nil
Nil
Nil
30 June 2015
1 October 2014
7.8
Issued during quarter:
Options
Nil
Nil
N/A
N/A
Performance Rights
Nil
Nil
N/A
7.9
Exercised during
quarter
Nil
Nil
N/A
N/A
7.10
Expired during
quarter
Options
1,000,000
500,000
Nil
Nil
$0.36
$0.40
31 March 2012
31 March 2014
Performance Rights
750,000
Nil
N/A
30 June 2015
7.11
Debentures
(totals only)
Nil
Nil
7.12
Unsecured notes
(totals only)
Nil
Nil
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 5).
2 This statement does give a true and fair view of the matters disclosed.
Sign here: Date: 26 April 2012
Joint Company Secretary
Print name: Leanne Forgione
+ See chapter 19 for defined terms.
17/12/2010 Appendix 5B Page 5
Appendix 5B Mining exploration entity quarterly report 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 6: Exploration for and
Evaluation of
Mineral Resources and AASB 107: Statement of Cash Flows apply to this
report.
5 Accounting Standards ASX will accept, for example, the use of
International Financial Reporting 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.
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Received on Thu Apr 26 2012 - 10:50:43 EDT
