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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Gippsland | LSE:GIP | London | Ordinary Share | AU000000GIP1 | 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% | 2.125 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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TIDMGIP
RNS Number : 5256M
Gippsland Limited
30 January 2009
Appendix 5B
Mining exploration entity quarterly report
+------------------------------------------------+----------+-----------------------------------------------------+
| Gippsland Limited |
+-----------------------------------------------------------------------------------------------------------------+
| ABN | | Quarter ended ("current |
| | | quarter") |
+------------------------------------------------+----------+-----------------------------------------------------+
| 31 | | 31 |
| 004 | | December |
| 766 | | 2008 |
| 376 | | |
+------------------------------------------------+----------+-----------------------------------------------------+
Consolidated statement of cash flows
+------+--------------------------------------------------------------------------------------------------------------------------+-------------------+------------------------------------------------+
| Cash flows related to operating | Current quarter | Year to date |
| activities | $A'000 | (6.months) |
| | | $A'000 |
+---------------------------------------------------------------------------------------------------------------------------------+-------------------+------------------------------------------------+
| 1.1 | Receipts from product sales and | | |
| | related debtors | | |
+------+--------------------------------------------------------------------------------------------------------------------------+-------------------+------------------------------------------------+
| 1.2 | Payments for (a) exploration | (251) | (251) |
| | and evaluation | (366) | (669) |
| | (b) development | (680) | (1,563) |
| | (c) production | | |
| | (d) administration | | |
+------+--------------------------------------------------------------------------------------------------------------------------+-------------------+------------------------------------------------+
| 1.3 | Dividends received | | |
+------+--------------------------------------------------------------------------------------------------------------------------+-------------------+------------------------------------------------+
| 1.4 | Interest and other items of a | 5 | 12 |
| | similar nature received | | |
+------+--------------------------------------------------------------------------------------------------------------------------+-------------------+------------------------------------------------+
| 1.5 | Interest and other costs of | | |
| | finance paid | | |
+------+--------------------------------------------------------------------------------------------------------------------------+-------------------+------------------------------------------------+
| 1.6 | Income taxes paid | | |
+------+--------------------------------------------------------------------------------------------------------------------------+-------------------+------------------------------------------------+
| 1.7 | Other (provide details if | | |
| | material) | | |
+------+--------------------------------------------------------------------------------------------------------------------------+-------------------+------------------------------------------------+
| | Net Operating Cash Flows | (1,292) | (2,471) |
+------+--------------------------------------------------------------------------------------------------------------------------+-------------------+------------------------------------------------+
| | Cash flows related to investing | | |
| | activities | | |
+------+--------------------------------------------------------------------------------------------------------------------------+-------------------+------------------------------------------------+
| 1.8 | Payment | | (1) |
| | 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) | | |
+------+--------------------------------------------------------------------------------------------------------------------------+-------------------+------------------------------------------------+
| | Net investing cash flows | - | (1) |
+------+--------------------------------------------------------------------------------------------------------------------------+-------------------+------------------------------------------------+
| 1.13 | Total operating and investing cash | (1,292) | (2,472) |
| | flows | | |
+------+--------------------------------------------------------------------------------------------------------------------------+-------------------+------------------------------------------------+
| | Cash flows related to financing | | |
| | activities | | |
+------+--------------------------------------------------------------------------------------------------------------------------+-------------------+------------------------------------------------+
| 1.14 | Proceeds from issues of shares, | 968 | 968 |
| | options, etc. | | |
+------+--------------------------------------------------------------------------------------------------------------------------+-------------------+------------------------------------------------+
| 1.15 | Proceeds from sale of forfeited | | |
| | shares | | |
+------+--------------------------------------------------------------------------------------------------------------------------+-------------------+------------------------------------------------+
| 1.16 | Proceeds from borrowings * | 300 | 300 |
+------+--------------------------------------------------------------------------------------------------------------------------+-------------------+------------------------------------------------+
| 1.17 | Repayment of borrowings | | |
+------+--------------------------------------------------------------------------------------------------------------------------+-------------------+------------------------------------------------+
| 1.18 | Dividends paid | | |
+------+--------------------------------------------------------------------------------------------------------------------------+-------------------+------------------------------------------------+
| 1.19 | Other (provide details if | (23) | - |
| | material) | | |
| | Costs of Issue | | |
+------+--------------------------------------------------------------------------------------------------------------------------+-------------------+------------------------------------------------+
| | Net financing cash flows (carried | 1,245 | 1,268 |
| | forward) | | |
+------+--------------------------------------------------------------------------------------------------------------------------+-------------------+------------------------------------------------+
+------+------------------------------------+-------------------+-------------------+
| | Net financing cash flows (brought | 1,245 | 1,268 |
| | forward) | | |
+------+------------------------------------+-------------------+-------------------+
| | Net increase (decrease) in cash | (47) | (1,204) |
| | held | | |
+------+------------------------------------+-------------------+-------------------+
| 1.20 | Cash at beginning of quarter/year | 443 | 1,593 |
| | to date | | |
+------+------------------------------------+-------------------+-------------------+
| 1.21 | Exchange rate adjustments to item | 13 | 20 |
| | 1.20 | | |
+------+------------------------------------+-------------------+-------------------+
| 1.22 | Cash at end of quarter | 409 | 409 |
+------+------------------------------------+-------------------+-------------------+
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 |
+--------------------------------------------------------------------------------------------------------+-----------------------------------------------------+
| 1.23 | Aggregate | 140 |
| | amount of | |
| | payments | |
| | to the | |
| | parties | |
| | included | |
| | in item | |
| | 1.2 | |
+-------------------------------------------------+------------------------------------------------------+-----------------------------------------------------+
| 1.24 | Aggregate | Nil |
| | amount of | |
| | loans to | |
| | the | |
| | parties | |
| | included | |
| | in item | |
| | 1.10 | |
+-------------------------------------------------+------------------------------------------------------+-----------------------------------------------------+
| 1.25 | Explanation necessary for an |
| | understanding of the |
| | transactions |
+-------------------------------------------------+------------------------------------------------------------------------------------------------------------+
| | Payments of consulting fees |
| | and directors fees to |
| | directors and director |
| | related entities |
+-------------------------------------------------+------------------------------------------------------+-----------------------------------------------------+
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
+-----+------------------------------------+-------------------+-------------------+
| | | Amount available | Amount used |
| | | $A'000 | $A'000 |
+-----+------------------------------------+-------------------+-------------------+
| 3.1 | Loan facilities * | 300 | 300 |
+-----+------------------------------------+-------------------+-------------------+
| 3.2 | Credit standby arrangements | - | - |
+-----+------------------------------------+-------------------+-------------------+
Estimated cash outflows for next quarter
+-----+------------------------------------------------------+-------------------+
| | | $A'000 |
+-----+------------------------------------------------------+-------------------+
| 4.1 | Exploration and evaluation | 0 |
+-----+------------------------------------------------------+-------------------+
| 4.2 | Development | 340 |
+-----+------------------------------------------------------+-------------------+
| | Total | 340 |
+-----+------------------------------------------------------+-------------------+
Reconciliation of cash
+-----+------------------------------------+------------------+--------------------+
| Reconciliation of cash at the end of the | Current quarter | Previous quarter |
| quarter (as shown in the consolidated | $A'000 | $A'000 |
| statement of cash flows) to the related | | |
| items in the accounts is as follows. | | |
+------------------------------------------+------------------+--------------------+
| 5.1 | Cash on hand and at bank | 409 | 388 |
+-----+------------------------------------+------------------+--------------------+
| 5.2 | Deposits at call | - | 55 |
+-----+------------------------------------+------------------+--------------------+
| 5.3 | Bank overdraft | | |
+-----+------------------------------------+------------------+--------------------+
| 5.4 | Other (provide details) | | |
+-----+------------------------------------+------------------+--------------------+
| | Total: cash at end of quarter | 409 | 443 |
| | (item 1.22) | | |
+-----+------------------------------------+------------------+--------------------+
Changes in interests in mining tenements
+-----+------------------+--------------+------------------------------------------------+-------------+--------------+
| | | Tenement | Nature of | Interest at | Interest at |
| | | reference | interest (note | beginning | end of |
| | | | (2)) | of quarter | quarter |
+-----+------------------+--------------+------------------------------------------------+-------------+--------------+
| 6.1 | Interests in | | Nil | | |
| | mining tenements | | | | |
| | relinquished, | | | | |
| | reduced or | | | | |
| | lapsed | | | | |
+-----+------------------+--------------+------------------------------------------------+-------------+--------------+
| 6.2 | Interests in | | | | |
| | mining tenements | | Nil | | |
| | acquired or | | | | |
| | increased | | | | |
+-----+------------------+--------------+------------------------------------------------+-------------+--------------+
Issued and quoted securities at end of current quarter
+------+---------------------------+---------------+-------------+-------------+--------------+
| | Total number | Number | Issue price | Amount paid |
| | | quoted | per | up per |
| | | | security | security |
| | | | (see note | (see note 3) |
| | | | 3) (cents) | (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 | 323,434,325 | 323,434,325 | | |
| | securities | | | | |
+------+---------------------------+---------------+-------------+-------------+--------------+
| 7.4 | Changes during | (a) | (a) | | |
| | quarter | 17,080,000 | 17,080,000 | | |
| | (a) Increases | | | | |
| | through issues | | | | |
| | (b) Decreases | | | | |
| | through returns | | | | |
| | of capital, | | | | |
| | buy-backs | | | | |
+------+---------------------------+---------------+-------------+-------------+--------------+
| 7.5 | +Convertible | | | | |
| | debt securities | | | | |
| | (description) | | | | |
+------+---------------------------+---------------+-------------+-------------+--------------+
| 7.6 | Changes during | | | | |
| | quarter| | | | | |
| | (a) Increases | | | | |
| | through issues | | | | |
| | (b) Decreases | | | | |
| | through | | | | |
| | securities | | | | |
| | matured, | | | | |
| | converted | | | | |
+------+---------------------------+---------------+-------------+-------------+--------------+
| 7.7 | Options | 25,000,000 | - | Exercise | Expiry date |
| | | 4,000,000 | - | price | 26/05/2012 |
| | | 17,000,000 | - | 13.5 cents | 15/12/2011 |
| | | | | 7 UK pence | 31/05/2012 |
| | | | | 15 cents | |
+------+---------------------------+---------------+-------------+-------------+--------------+
| 7.8 | Issued during | 17,000,000 | - | 15 cents | 31/05/2012 |
| | quarter | | | | |
+------+---------------------------+---------------+-------------+-------------+--------------+
| 7.9 | Exercised during | | | | |
| | quarter | | | | |
+------+---------------------------+---------------+-------------+-------------+--------------+
| 7.10 | Expired during | | | | |
| | quarter | | | | |
+------+---------------------------+---------------+-------------+-------------+--------------+
| 7.11 | Debentures (totals | | | | |
| | only) | | | | |
+------+---------------------------+---------------+-------------+-------------+--------------+
| 7.12 | Unsecured notes | | | | |
| | (totals only) | | | | |
+------+---------------------------+---------------+-------------+-------------+--------------+
*Directors of the Company have provided loans to the sum of $300,000 during the
quarter. These loans are unsecured and interest free, are in full compliance
with the Corporations Act 2001 and ASX Limited Listing Rules and are repayable
by the company upon the future raising of sufficient capital.
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.
Director, RJ Telford
Date: 30 January 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.
5Accounting 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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