Carpathian Resources Limited (AIM: CPNR, ASX: CPN): Quarterly Cash Flow Report for the Period Ended 30 June 2008

  
    
  
  
    
      Carpathian Resources Limited (AIM: CPNR, ASX: CPN) sets out below its 
      quarterly cash flow report.
    
    
      Appendix 5B
    
    
      Mining exploration entity quarterly report
    
    
      Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.
    
    
      
        
          Name of entity
        
      
      
        
          Carpathian Resources Limited
        
      
    
    
      
        
          ABN
        
        
           
        
        
          Quarter ended (“current quarter”)
        
      
      
        
          30 080 273 703
        
        
        
        
          30 June 2008
        
      
    
    
    
    
      
        
          
            Consolidated statement of cash flows
          
        
      
      
        
        
        
           
        
        
        
        
           
        
        
        
      
      
        
          
            Cash flows related to operating activities
          
        
        
        
        
          Current quarter

          
            $A’000
          
        
        
        
        
          Year to date (12.months)

          
            $A’000
          
        
      
      
        
          1.1
        
        
           
        
        
          Receipts from gas sales
        
        
        
        
          399
        
        
        
        
          1,446
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          1.2
        
        
        
        
          Payments for (a) exploration and evaluation

          
            (b) development
          
          
            (c) production
          
          
            (d) administration
          
        
        
        
        
          (101)

          
            -
          
          
            -
          
          
            (575)
          
        
        
        
        
          (561)

          
            -
          
          
            -
          
          
            (1,626)
          
        
      
      
        
          1.3
        
        
        
        
          Dividends received
        
        
        
        
          -
        
        
        
        
          -
        
      
      
        
          1.4
        
        
        
        
          Interest and other items of a similar nature received
        
        
        
        
          144
        
        
        
        
          510
        
      
      
        
          1.5
        
        
        
        
          Interest and other costs of finance paid
        
        
        
        
          (25)
        
        
        
        
          (100)
        
      
      
        
          1.6
        
        
        
        
          Income taxes paid
        
        
        
        
          (85)
        
        
        
        
          (242)
        
      
      
        
          1.7
        
        
        
        
          Other Income

          
            Abandonment costs for Krasna
          
          
            Foreign office expenses
          
        
        
        
        
          -

          
            -
          
          
            (85)
          
        
        
        
        
          -

          
            (466)
          
          
            (220)
          
        
      
      
        
           
        
        
        
        
          
            Net Operating Cash Flows
          
        
        
        
        
          
            (328)
          
        
        
        
        
          
            (1,259)
          
        
      
      
        
        
        
        
        
          
            Cash flows related to investing activities
          
        
        
        
        
        
        
        
        
        
      
      
        
          1.8
        
        
        
        
          Payment for purchases of:

          
            (a) prospects
          
          
            (b) equity investments
          
          
            (c) other fixed assets
          
        
        
        
        
          
            -
          
          
            -
          
          
            -
          
        
        
        
        
          
            -
          
          
            -
          
          
            (82)
          
        
      
      
        
          1.9
        
        
        
        
          Proceeds from sale of:

          
            (a) prospects
          
          
            (b) equity investments
          
          
            (c) other fixed assets
          
        
        
        
        
          
            -
          
          
            -
          
          
            -
          
        
        
        
        
          
            -
          
          
            -
          
          
            51
          
        
      
      
        
          1.10
        
        
        
        
          Loans to other entities
        
        
        
        
          (200)
        
        
        
        
          (200)
        
      
      
        
          1.11
        
        
        
        
          Loans repaid by other entities
        
        
        
        
          -
        
        
        
        
          -
        
      
      
        
          1.12
        
        
        
        
          Other
        
        
        
        
          -
        
        
        
        
          -
        
      
      
        
        
        
        
        
          
            Net investing cash flows
          
        
        
        
        
          
            (200)
          
        
        
        
        
          
            (231)
          
        
      
      
        
          1.13
        
        
        
        
          Total operating and investing cash flows (carried forward)
        
        
        
        
          
            (528)
          
        
        
        
        
          
            (1,490)
          
        
      
    
    
      
        
          1.13
        
        
           
        
        
          Total operating and investing cash flows (brought forward)
        
        
           
        
        
          
            (528)
          
        
        
           
        
        
          
            (1,490)
          
        
      
      
        
          
          
        
        
        
        
          
            Cash flows related to financing activities
          
        
        
        
        
        
        
        
        
        
      
      
        
          1.14
        
        
        
        
          Proceeds from issues of shares, options, etc. (net)
        
        
        
        
          -
        
        
        
        
          8,900
        
      
      
        
          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
        
        
        
        
          -
        
        
        
        
          (60)
        
      
      
        
           
        
        
        
        
          Net financing cash flows
        
        
        
        
          -
        
        
        
        
          8,840
        
      
      
        
        
        
        
        
          
            Net increase (decrease) in cash held
          
        
        
        
        
          
            (528)
          
        
        
        
        
          
            7,350
          
        
      
      
        
          1.20
        
        
        
        
          Cash at beginning of quarter/year to date
        
        
        
        
          10,146
        
        
        
        
          2,715
        
      
      
        
          1.21
        
        
        
        
          Exchange rate adjustments to item 1.20
        
        
        
        
          7
        
        
        
        
          (440)
        
      
      
        
          1.22
        
        
        
        
          Cash at end of quarter
        
        
        
        
          9,625
        
        
        
        
          9,625
        
      
    
    
    
    
      
        
          
            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 amount of payments to the parties included in item 1.2
          
        
        
        
        
          
            188
          
        
      
      
        
          
            1.24
          
        
        
        
        
          
            Aggregate amount of loans to the parties included in item 1.10
          
        
        
        
        
          -
        
      
      
        
          
            1.25
          
        
        
        
        
          
            Explanation necessary for an understanding of the transactions
          
        
      
      
        
          
             
          
        
        
        
        
          
            All transactions involving Directors and Associates were on normal 
            commercial terms.
          
        
      
    
    
    
    
      
        
          
            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
        
      
      
        
        
        
        
        
          
            N/A
          
        
      
    
    
      
        
          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
        
      
      
        
        
        
        
        
          
            N/A
          
        
      
    
    
    
    
      
        
          
            Financing facilities available
          
          
            Add notes as necessary for an understanding of the position.
          
        
      
      
        
        
        
           
        
        
        
        
           
        
        
        
        
           
        
        
        
      
      
        
        
        
        
        
        
        
        
        
          Amount available

          
            $A’000
          
        
        
        
        
          Amount used

          
            $A’000
          
        
      
      
        
          3.1
        
        
        
        
          Loan facilities
        
        
        
        
          Nil
        
        
        
        
          Nil
        
      
      
        
          3.2
        
        
        
        
          Credit standby arrangements
        
        
        
        
          Nil
        
        
        
        
          Nil
        
      
    
    
    
    
      
        
          
            Estimated cash outflows for next quarter
          
        
      
      
        
        
        
           
        
        
        
        
           
        
        
        
      
      
        
        
        
        
        
        
        
        
        
          $A’000
        
      
      
        
          4.1
        
        
        
        
          Exploration and evaluation
        
        
        
        
          100
        
      
      
        
          4.2
        
        
        
        
          Development
        
        
        
        
          0
        
      
      
        
           
        
        
        
        
          
            Total
          
        
        
        
        
          
            100
          
        
      
    
    
    
    
      
        
          
            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
        
        
        
        
          2,396
        
        
        
        
          10,146
        
      
      
        
          5.2
        
        
          Deposits at call
        
        
        
        
          -
        
        
        
        
          -
        
      
      
        
          5.3
        
        
          Bank overdraft
        
        
        
        
          -
        
        
        
        
          -
        
      
      
        
          5.4
        
        
          Other (provide details)- Term Deposits- Promissory Notes
        
        
        
        
          
          6,445784
        
        
        
        
          
          -
        
      
      
        
           
        
        
          Total: cash at end of quarter (item 1.22)
        
        
        
        
          9,625
        
        
        
        
          10,146
        
      
    
    
    
    
      
        
          
            Changes in interests in mining tenements
          
        
      
      
        
        
        
           
        
        
        
        
           
        
        
        
        
           
        
        
        
        
           
        
        
        
        
           
        
        
        
      
      
        
        
        
        
        
        
        
        
        
          Tenement reference
        
        
        
        
          
            Nature of interest
          
          
            (note (2))
          
        
        
        
        
          Interest at beginning of quarter
        
        
        
        
          Interest at end of quarter
        
      
      
        
          6.1
        
        
        
        
          Interests in mining tenements relinquished, reduced or lapsed
        
        
        
        
           
        
        
        
        
          N/A
        
        
        
        
           
        
        
        
        
           
        
      
      
        
          6.2
        
        
        
        
          Interests in mining tenements acquired or increased
        
        
        
        
          
             
          
        
        
        
        
          N/A
        
        
        
        
          
             
          
        
        
        
        
          
             
          
        
      
    
    
    
    
      
        
          
            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.
          
        
      
      
        
        
        
           
        
        
        
        
           
        
        
        
        
           
        
        
        
        
           
        
        
        
      
      
        
           
        
        
        
        
          Total number
        
        
        
        
          Number quoted
        
        
        
        
          
            Issue price per security (see note 3) (cents)
          
        
        
        
        
          Amount paid up per security (see note 3) (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 securities
          
        
        
        
        
          265,533,501
        
        
        
        
          265,533,501
        
        
        
        
          -
        
        
        
        
          -
        
      
      
        
          7.4
        
        
        
        
          Changes during quarter

          
            (a) Increases through issues
          
          
            (b) Decreases through returns of capital, buy-backs
          
        
        
        
        
          
             
          
          
            -
          
          
             
          
          
            -
          
        
        
        
        
          
             
          
          
            -
          
          
             
          
          
            -
          
        
        
        
        
          
             
          
          
            -
          
          
             
          
          
            -
          
        
        
        
        
          
             
          
          
            -
          
          
             
          
          
            -
          
        
      
      
        
          7.5
        
        
        
        
          +Convertible debt securities (description)
        
        
        
        
          10 notes (10% coupon rate)

          
            June 16, 2008
          
        
        
        
        
          -
        
        
        
        
          $100,000 face value
        
        
        
        
          $100,000 face value
        
      
      
        
          7.6
        
        
        
        
          Changes during quarter

          
            (a) Increases through issues
          
          
            (b) Decreases through securities matured, converted
          
        
        
        
        
          
             
          
          
            -
          
          
             
          
          
            -
          
        
        
        
        
          
             
          
          
            -
          
          
             
          
          
            -
          
        
        
        
        
          
             
          
          
            -
          
          
             
          
          
            -
          
        
        
        
        
          
             
          
          
            -
          
          
             
          
          
            -
          
        
      
      
        
          7.7
        
        
        
        
          Options (description and conversion factor)
        
        
        
        
          
             
          
          
            15,000,000
          
          
            2,725,335
          
        
        
        
        
          
             
          
          
            -
          
        
        
        
        
          Exercise price

          
             
          
          
            $0.10
          
          
            $0.29
          
        
        
        
        
          
            Expiry date30 June 20123 September 2012
          
          
             
          
        
      
      
        
          7.8
        
        
        
        
          Issued during quarter
        
        
        
        
          -
        
        
        
        
          -
        
        
        
        
          -
        
        
        
        
          -
        
      
      
        
          7.9
        
        
        
        
          Exercised during quarter
        
        
        
        
          -
        
        
        
        
          -
        
        
        
        
          -
        
        
        
        
          -
        
      
      
        
          7.10
        
        
        
        
          Expired during quarter
        
        
        
        
          -
        
        
        
        
          -
        
        
        
        
          -
        
        
        
        
          -
        
      
      
        
          7.11
        
        
        
        
          Debentures

          
            (totals only)
          
        
        
        
        
           
        
        
        
        
           
        
        
        
        
        
        
        
        
        
      
      
        
          7.12
        
        
        
        
          Unsecured notes (totals only)
        
        
        
        
           
        
        
        
        
           
        
        
        
        
        
        
        
        
        
      
    
    
      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.
    
    
      Sign here: ............................................................ 
      Date: 31 July 2008
    
    
      (Director/Company Secretary)
    
    
      Print name: J P Arbuckle
    
    
      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.
    
    
      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.
    
    
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