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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Eurogold | LSE:EUG | London | Ordinary Share | AU000000EUG0 | ORD SHS NPV |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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RNS Number:6908F
Eurogold Limited
15 October 2007
EUROGOLD
L I M I T E D
(ACN 009 070 384)
15 October 2007 ASX & AIM Symbol "EUG"
RESULTS FOR QUARTER ENDED
30 SEPTEMBER 2007
As advised last quarter Eurogold Limited ("the Company") disposed of its
Ukrainian gold mining assets to Resource Invest LLC ("RIL") pursuant to the
Asset Sale Agreement dated 19 May 2007 and Shareholder approval received at the
Company's General Meeting held on 10 July 2007.
The Company has received an initial payment of US$2,000,000 from RIL and is
entitled to receive a further US$3,000,000 upon RIL meeting a key regulatory
milestone relating to the advancement of the Saulyak Gold Project.
The Directors are actively pursuing new opportunities for its shareholders and
will keep the market fully informed of any progress.
In order to reduce costs the Company has moved to smaller offices at Level 1,
173 Mounts Bay Road, Perth, sub-contracted its Company Secretarial activities
and Directors have reduced salaries and directors fees in lieu of Options.
Eurogold's Federal Court proceedings against Oxus Gold Plc and Oxus Holdings (
Malta) Limited is progressing through the pre-trial steps.
At the end of September the cash position was $2.3 million.
PETER GUNZBURG
Executive Chairman
For further information, please contact:
Peter Gunzburg - Managing Director - Ph: +61 8 9481 0572,
Email: peter@eurogold.com.au.
RFC Corporate Finance Ltd acts as Eurogold's Nominated Adviser
Contact: Stuart Laing - Ph: +61 8 9480 2506, Email: stuartl@rfc.com.au
Rule 5.3
Appendix 5B
Mining Exploration Entity Monthly Report
Origin: Appendix 8
Name of Entity
EUROGOLD LIMITED ("EUG")
ABN 3 Months Ended
------------------------ ------------------------
009 070 384 -002 30 September 2007
------------------------ ------------------------
Consolidated Statement of Cash Flows
------------ ------------
Cash Flows Related to Operating Activities Current Year to Date
(Month) (3 Months)
$A'000 $A'000
------------ ------------
1.1 Receipts from product sales and related 0 0
debtors
1.2 Payments for (a) exploration and evaluation (0) (0)
(b) development (0) (0)
(c) production 0 0
(d) administration (203) (431)
1.3 Dividends received 0 0
1.4 Interest and other items of a similar nature 13 22
received
1.5 Interest and other costs of finance paid 0 0
1.6 Income taxes paid 0 0
1.7 Other - (Tax/VAT) 4 22
------------ ------------
Net Operating Cash Flows (186) (387)
----- ----------------------------- ------------ ------------
Cash Flows Related to Investing Activities
1.8 Payment for purchases of: (a) prospects 0 0
(b) equity investments 0 0
(c) other fixed assets 0 (0)
1.9 Proceeds from sale of: (a) prospects 0 2,255
(b) equity investments 0 0
(c) other fixed assets 0 9
1.10 Loans to other entities 0 0
1.11 Loans repaid by other entities 0 0
1.12 Other- 0 0
------------ ------------
Net Investing Cash Flows (186) 2,264
------------ ------------
1.13 Total operating and investing cash flows (186) 1,877
----- (carried forward) ------------ ------------
-----------------------------
1.13 Total operating and investing cash flows (186) 1,877
----- (brought forward) ------------ ------------
-----------------------------
Cash Flows Related to Financing Activities
1.14 Proceeds from issues of shares, options, 0 0
etc.
1.15 Proceeds from sale of forfeited shares 0 0
1.16 Proceeds from borrowings 0 0
1.17 Repayment of borrowings 0 0
1.18 Dividends paid 0 0
1.19 Other (Capital Raising Costs) 0 0
------------ ------------
Net Financing Cash Flows 0 0
----- ----------------------------- ------------ ------------
Net Increase (Decrease) in Cash Held (186) 1,877
1.20 Cash at beginning of Month/year to date 2,576 513
1.21 Exchange rate adjustments to 1.20 0 0
------------ ------------
1.22 Cash at End of Month 2,390 2,390
----- ----------------------------- ------------ ------------
Payments to directors of the entity and associates of the directors
Payments to related entities of the entity and associates of the related
entities
------------
2 Months
$A'000
------------
1.23 Aggregate amount of payments to the parties included in 45
item 1.2 ------------
1.24 Aggregate amount of loans to the parties included in item 0
----- 1.10 ------------
---------------------------------------
1.25 Explanation necessary for an understanding of the transactions
------------------------------------------------
Salaries, superannuation contributions, consulting and directors fees
paid 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
-------------------------------------------------
None
-------------------------------------------------
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
-------------------------------------------------
None
-------------------------------------------------
Financing Facilities Available
Add notes as necessary for an understanding of the position.
--------------- ----------------
Amount Available Amount Used
$A'000 $A'000
--------------- ----------------
3.1 Loan facilities 0 0
--------------- ----------------
3.2 Credit standby arrangements 0 0
----- ---------------------- --------------- ----------------
Estimated Cash Outflows for Next Month
$A'000
---------------------
4.1 Exploration and evaluation 0
---------------------
4.2 Development 0
----- ------------------------------ ---------------------
Total 0
----- ------------------------------ ---------------------
Reconciliation of Cash
----------------------------- ------------- --------------
Reconciliation of cash at the end of the Month Current Previous Month
(as shown in the consolidated statement of cash
flows) to the related items in the accounts is as
follows.
$A'000 $A'000
----------------------------- ------------- --------------
--------------
5.1 Cash on hand and at bank 2,390 2,390
------------- --------------
5.2 Deposits at call 0 0
------------- --------------
5.3 Bank overdraft 0 0
------------- --------------
5.4 Other 0 0
----- --------------------------- ------------- --------------
Total: Cash at End of Month (item 1.22) 2,390 2,390
----- --------------------------- ------------- --------------
Changes in Interests in Mining Tenements
-------- ------------- ---------- -----------
Tenement Reference Nature of Interest Interest at Beginning Interest at End of
(note (2)) of Quarter Quarter
-------- ------------- ---------- -----------
6.1 Interests in Interest in Saulyak 97.2% NIL
mining gold project sold ---------- -----------
tenements during the Quarter
relinquished, -------------
reduced or
lapsed
6.2 Interests in N/A N/A N/A
mining -------- ------------- ---------- -----------
tenements
acquired or
increased
Issued and Quoted Securities at End of Current Month
Description includes rate of interest and any redemption or conversion rights
together with prices and dates.
Number Issued Number Quoted Issue Price Per Security (cents) Amount Paid Up Per
Security (cents)
----------- ----------- ----------- ------------
----- ------------
7.1 Preference Nil Nil N/Applicable N/Applicable
+securities ----------- ----------- ----------- ------------
(description)
7.2 Issued during - Nil N/Applicable N/Applicable
----- Quarter ----------- ----------- ----------- ------------
-----------
7.3 +Ordinary 319,679,494 319,679,494 N/Applicable N/Applicable
Securities ----------- ----------- ----------- ------------
7.4 Issued during nil nil N/Applicable N/Applicable
----- Quarter ----------- ----------- ----------- ------------
-----------
7.5 +Convertible Nil Nil N/Applicable N/Applicable
Debt ----------- ----------- ----------- ------------
Securities
(description)
7.6 Issued during Nil Nil N/Applicable N/Applicable
----- Month ----------- ----------- ----------- ------------
-----------
7.7 Options 4,000,000 Nil Exercise Price Expiring
(description)
(unquoted Director Options $0.03 10 August 2010
----------- ----------- ----------- ------------
7.8 Issued during 4,000,000 Nil Exercise Price Expiring
Quarter
(unquoted Director Options $0.03 10 August 2010
----------- ----------- ----------- ------------
7.9 Exercised Nil Nil Nil Nil
during
Quarter
----------- ----------- ----------- -----------
7.10 Expired Nil Nil N/Applicable N/Applicable
----- during ----------- ----------- ----------- ------------
Quarter
-----------
7.11 Debentures Nil Nil
(totals only)
----------- ----------- -----------
7.12 Unsecured Nil Nil
Notes (totals ----------- -----------
only)
Compliance Statement
1 This statement has been prepared under accounting policies which comply with
accounting standards as defined in the Corporations Law or other standards
acceptable to ASX (see note 4).
2 This statement does /does not* (delete one) give a true and fair view of the
matters disclosed.
P Gunzburg Date: 15 October 2007
Executive Chairman
Notes
1 The Monthly report provides a basis for informing the market how the entity's
activities have been financed for the past Month 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.
= = = = =
This information is provided by RNS
The company news service from the London Stock Exchange
END
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