REG - Thor Mining PLC - APPENDIX 5B OCTOBER TO DECEMBER 2018

Thor EnergyAnnouncement

31/01/2019 07:05

RNS Number : 6477O
Thor Mining PLC
31 January 2019
 


Thursday, 31 January 2019
 
THOR MINING PLC
 ("Thor" or the "Company")
 
Appendix 5B
 
The Directors of Thor Mining PLC (AIM, ASX: THR) today released the following announcement on the Australian Securities Exchange ("ASX"), as required under the listing rules of the ASX.
 
 
+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




THOR MINING PLC




ABN


 


Quarter ended ("current quarter")




121 117 673


 


31 DECEMBER 2018



 




Consolidated statement of cash flows


Current quarter $A'000


Year to date            (6 months)

$A'000





1.


Cash flows from operating activities


 
2


4




1.1


Receipts




1.2


Payments for


(333)


(795)




 


(a)   exploration & evaluation




 


(b)   development


-


-




 


(c)   production


-


-




 


(d)   staff costs


(54)


(72)




 


(e)   administration and corporate costs


(322)


(603)




1.3


Dividends received (see note 3)


-


-




1.4


Interest received


14


16




1.5


Interest and other costs of finance paid


-


-




1.6


Income taxes paid


-


-




1.7


Research and development refunds


-


-




1.8


Other


-


-




1.9


Net cash from / (used in) operating activities


(693)


(1,450)




 




2.


Cash flows from investing activities


-


-




2.1


Payments to acquire:




 


(a)   property, plant and equipment




 


(b)   tenements (see item 10)


-


-




 


(c)   investments


-


(100)




 


(d)   other non-current assets


-


-




2.2


Proceeds from the disposal of:


-


-




 


(a)   property, plant and equipment




 


(b)   tenements (see item 10)
commission paid on proceeds


-
-


-
-




 


(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 (security bonds)


-


-




2.6


Net cash from / (used in) investing activities


-


(100)




 




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


969


1,000




3.4


Transaction costs related to issues of shares, convertible notes or options


(7)


(7)




3.5


Proceeds from borrowings


-


-




3.6


Repayment of borrowings (finance lease)


(5)


(9)




3.7


Transaction costs related to loans and borrowings












3.8


Dividends paid












3.9


Other


-


-




3.10


Net cash from / (used in) financing activities


957


984




 




4.


Net increase / (decrease) in cash and cash equivalents for the period


1,625


2,439




4.1


Cash and cash equivalents at beginning of period




4.2


Net cash from / (used in) operating activities (item 1.9 above)


(693)


(1,450)




4.3


Net cash from / (used in) investing activities (item 2.6 above)


-


(100)




4.4


Net cash from / (used in) financing activities (item 3.10 above)


957


984




4.5


Effect of movement in exchange rates on cash held


(5)


11




4.6


Cash and cash equivalents at end of period


1,884


1,884










 



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


869


122




5.2


Call deposits












5.3


Bank overdrafts












5.4


Other (term deposit)


1,015


1,503




5.5


Cash and cash equivalents at end of quarter (should equal item 4.6 above)


1,884


1,625



 



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


144




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




The amount at Item 6.1 above represents payments to Directors for Directors fees, other consulting services provided (Messrs Billing and Thomas only) and the salary paid to the Executive Director (Richard Bradey).
 



 



7.


Payments to related entities of the entity and their associates


Current quarter

$A'000




7.1


Aggregate amount of payments to these parties included in item 1.2


-




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




 



 



8.


Financing facilities available
Add notes as necessary for an understanding of the position


Total facility amount at quarter end

$A'000


Amount drawn at quarter end

$A'000




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.




 
 




9.


Estimated cash outflows for next quarter


$A'000




9.1


Exploration and evaluation


(352)




9.2


Development


-




9.3


Production


-




9.4


Staff costs


(12)




9.5


Administration and corporate costs


(223)




9.6


Other (earn-in contributions to Environmental Copper Recovery)


(150)




9.7


Total estimated cash outflows


(737)










 



10.


Changes in tenements
(items 2.1(b) and 2.2(b) above)


Tenement reference and location


Nature of interest


Interest at beginning of quarter


Interest at end of quarter




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


 


 
 


 
 


 
      
 



 




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:         ....... . ....................................................                      Date: .......31 January 2019............
(Company secretary)
Print name:       ..Ray Ridge.........................................
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 that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.
2.       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.
3.       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.
 




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