REG - MC Mining Limited - Appendix 5B
30/04/2024 09:45
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RNS Number : 5803M MC Mining Limited 30 April 2024
Appendix 5B
Mining exploration entity or oil and gas exploration entity
quarterly cash flow report
Name of entity
MC Mining Limited
ABN Quarter ended ("current quarter")
98 008 905 388 31 March 2024
Consolidated statement of cash flows Current quarter Year to date (nine months)
$USD'000
$USD'000
1. Cash flows from operating activities 8,589 27,263
1.1 Receipts from customers
1.2 Payments for - -
(a) exploration & evaluation
(b) development
(c) production (6,105) (18,990)
(d) staff costs (1,452) (3,802)
(e) administration and corporate costs (1,431) (5,466)
1.3 Dividends received (see note 3)
1.4 Interest received (4) (6)
1.5 Interest and other costs of finance paid - -
1.6 Income taxes paid - -
1.7 Government grants and tax incentives
1.8 Other (provide details if material) - -
1.9 Net cash from / (used in) operating activities (403) (1,001)
2. Cash flows from investing activities
2.1 Payments to acquire or for:
(a) entities
(b) tenements
(c) property, plant and equipment (432) (4,808)
(d) exploration & evaluation - -
(e) investments (84) (256)
(f) other non-current assets
2.2 Proceeds from the disposal of:
(a) entities
(b) tenements
(c) property, plant and equipment - -
(d) investments - -
(e) 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 (516) (5,064)
3. Cash flows from financing activities
3.1 Proceeds from issues of equity securities (excluding convertible debt
securities)
3.2 Proceeds from issue of convertible debt securities
3.3 Proceeds from exercise of options
3.4 Transaction costs related to issues of equity securities or convertible debt
securities
3.5 Proceeds from borrowings - 1,361
3.6 Repayment of borrowings (89) (89)
3.7 Transaction costs related to loans and borrowings
3.8 Dividends paid - -
3.9 Other (provide details if material) (118) (459)
3.10 Net cash from / (used in) financing activities (207) 813
4. Net increase / (decrease) in cash and cash equivalents for the period
4.1 Cash and cash equivalents at beginning of period 3,366 7,499
4.2 Net cash from / (used in) operating activities (item 1.9 above) (403) (1,001)
4.3 Net cash from / (used in) investing activities (item 2.6 above) (516) (5,064)
4.4 Net cash from / (used in) financing activities (item 3.10 above) (207) 813
4.5 Effect of movement in exchange rates on cash held (70) (77)
4.6 Cash and cash equivalents at end of period 2,170 2,170
5. Reconciliation of cash and cash equivalents Current quarter Previous quarter
at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts
$USD'000
$USD'000
5.1 Bank balances 3,419 4,705
5.2 Call deposits 23 23
5.3 Bank overdrafts (1,272) (1,362)
5.4 Other (provide details)
5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 2,170 3,366
6. Payments to related parties of the entity and their associates Current quarter
$USD'000
6.1 Aggregate amount of payments to related parties and their associates included 356
in item 1
6.2 Aggregate amount of payments to related parties and their associates included
in item 2
Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity
report must include a description of, and an explanation for, such payments.
7. Financing facilities Total facility amount at quarter end Amount drawn at quarter end
Note: the term "facility' includes all forms of financing arrangements available to the entity.
$USD'000
$USD'000
Add notes as necessary for an understanding of the sources of finance available to the entity.
7.1 Loan facilities 8,478 8,478
7.2 Credit standby arrangements
7.3 Other (please specify) 1,324 1,272
7.4 Total financing facilities 9,802 9,750
7.5 Unused financing facilities available at quarter end 52
7.6 Include in the box below a description of each facility above, including the
lender, interest rate, maturity date and whether it is secured or unsecured.
If any additional financing facilities have been entered into or are proposed
to be entered into after quarter end, include a note providing details of
those facilities as well.
All
faci
liti
es
are
ZAR
deno
mina
ted
and
are
repa
yabl
e in
Sout
h
Afri
can
Rand
(ZAR
)
7.1a
Loan
Faci
liti
es
$USD
8.5
mill
ion:
Len
der:
Indu
stri
al
Deve
lopm
ent
Corp
orat
ion
of
Sout
h
Afri
ca
(IDC
).
Matu
rity
date
: 30
Sept
embe
r
2024
In
the
case
of
an
un
-rem
edie
d
defa
ult,
the
debt
is
conv
erti
ble
into
shar
es.
Inte
rest
rate
:
accr
ues
at a
real
afte
r
-tax
rate
of
retu
rn
of
16%
on
the
amou
nt
adva
nced
.
Secu
rity
:
Unse
cure
d
7.3
Othe
r
$USD
1.32
mill
ion:
Lend
er:
ABSA
Grou
p
Limi
ted
a)
$USD
1.32
mill
ion
over
draf
t
faci
lity
Matu
rity
Date
a)
Revi
ewed
annu
ally
Inte
rest
Rate
:
a)
Floa
ting
rate
:
Sout
h
Afri
can
Prim
e
plus
3%
Secu
rity
a)
Rece
ivab
les,
bond
over
Uitk
omst
asse
ts
8. Estimated cash available for future operating activities $USD'000
8.1 Net cash from / (used in) operating activities (item 1.9) (403)
8.2 (Payments for exploration & evaluation classified as investing activities) -
(item 2.1(d))
8.3 Total relevant outgoings (item 8.1 + item 8.2) (403)
8.4 Cash and cash equivalents at quarter end (item 4.6) 2,170
8.5 Unused finance facilities available at quarter end (item 7.5) -
8.6 Total available funding (item 8.4 + item 8.5) 2,170
8.7 Estimated quarters of funding available (item 8.6 divided by item 8.3) 5.4
No
te
:
if
th
e
en
ti
ty
ha
s
re
po
rt
ed
po
si
ti
ve
re
le
va
nt
ou
tg
oi
ng
s
(i
e
a
ne
t
ca
sh
in
fl
ow
)
in
it
em
8
.3
,
an
sw
er
it
em
8
.7
as
"N
/A
".
Ot
he
rw
is
e,
a
fi
gu
re
fo
r
th
e
es
ti
ma
te
d
qu
ar
te
rs
of
fu
nd
in
g
av
ai
la
bl
e
mu
st
be
in
cl
ud
ed
in
it
em
8.
7.
8.8 If item 8.7 is less than 2 quarters, please provide answers to the following
questions:
8.8.1 Does the entity expect that it will continue to have the current
level of net operating cash flows for the time being and, if not, why not?
Answer:
8.8.2 Has the entity taken any steps, or does it propose to take any
steps, to raise further cash to fund its operations and, if so, what are those
steps and how likely does it believe that they will be successful?
Answer:
8.8.3 Does the entity expect to be able to continue its operations and
to meet its business objectives and, if so, on what basis?
Answer:
Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2
and 8.8.3 above must be answered.
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.
Date: ......30 April
2024.............................................................................
Authorised by: .......... Disclosure
Committee.........................................................................
(Name of body or officer authorising release - see note 4)
Notes
1. This quarterly cash flow report and the accompanying
activity report provide a basis for informing the market about the entity's
activities for the past quarter, how they have been financed and the effect
this has had on its cash position. An entity that wishes to disclose
additional information over and above the minimum required under the Listing
Rules is encouraged to do so.
2. If this quarterly cash flow 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 cash
flow 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.
4. If this report has been authorised for release to the
market by your board of directors, you can insert here: "By the board". If it
has been authorised for release to the market by a committee of your board of
directors, you can insert here: "By the [name of board committee - eg Audit
and Risk Committee]". If it has been authorised for release to the market by a
disclosure committee, you can insert here: "By the Disclosure Committee".
5. If this report has been authorised for release to the
market by your board of directors and you wish to hold yourself out as
complying with recommendation 4.2 of the ASX Corporate Governance Council's
Corporate Governance Principles and Recommendations, the board should have
received a declaration from its CEO and CFO that, in their opinion, the
financial records of the entity have been properly maintained, that this
report complies with the appropriate accounting standards and gives a true and
fair view of the cash flows of the entity and that their opinion has been
formed on the basis of a sound system of risk management and internal control
which is operating effectively.
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