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Share Name Share Symbol Market Type Share ISIN Share Description
Danakali Limited LSE:DNK London Ordinary Share AU000000DNK9 ORDS NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.50 1.69% 30.00 29.00 31.00 30.00 29.50 29.50 0.00 09:47:16
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.1 -5.4 -2.1 - 96

Danakali Limited Appendix 5B

30/10/2020 7:05am

UK Regulatory (RNS & others)


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RNS Number : 6370D

Danakali Limited

30 October 2020

Appendix 5B

Mining exploration entity or oil and gas exploration entity

quarterly cash flow report

 
 Name of entity 
------------------------------------------------------------------ 
              Danakali Limited 
 ABN                             Quarter ended ("current quarter") 
----------------------------    ---------------------------------- 
              57 097 904 302                  30 September 2020 
                                ---------------------------------- 
 
 
 Consolidated statement of cash                          Current quarter   Year to date 
  flows                                                                     (9 months) 
                                                              $A'000           $A'000 
               1.   Cash flows from operating 
                     activities 
 1.1                Receipts from customers                            -              - 
 1.2                Payments for 
                    (a) exploration & evaluation                       -              - 
                    (b) development                                    -              - 
                    (c) production                                     -              - 
                    (d) staff costs                                (304)          (800) 
                    (e) administration and corporate 
                     costs                                         (496)        (1,793) 
 1.3                Dividends received (see note                       -              - 
                     3) 
 1.4                Interest received                                  8             70 
 1.5                Interest and other costs of                        -              - 
                     finance paid 
 1.6                Income taxes paid                                  -              - 
                    Government grants and tax 
 1.7                 incentives                                       55            105 
 1.8                Other (provide details if                          -              - 
                     material) 
                                                        ----------------  ------------- 
                    Net cash from / (used in) 
 1.9                 operating activities                          (737)        (2,418) 
-----------------  -----------------------------------  ----------------  ------------- 
 
 2.                      Cash flows from investing 
                          activities 
 2.1                     Payments to acquire or for: 
                    (a) entities                                       -              - 
                    (b) tenements                                      -              - 
                    (c) property, plant and equipment                  -              - 
                    (d) exploration & evaluation                       -              - 
                    (e) investments                                    -              - 
                    (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 (funding of joint venture)            (2,097)*       (16,055) 
                                                        ----------------  ------------- 
                    Net cash from / (used in) 
 2.6                 investing activities                        (2,097)       (16,055) 
-----------------  -----------------------------------  ----------------  ------------- 
 
 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 
                    Transaction costs related 
                     to issues of equity securities 
 3.4                 or convertible debt securities                    -        (3,326) 
 3.5                Proceeds from borrowings                           -              - 
 3.6                Repayment of borrowings                            -              - 
 3.7                Transaction costs related                          -              - 
                     to loans and borrowings 
 3.8                Dividends paid                                     -              - 
 3.9                Other (provide details if                          -              - 
                     material) 
                                                        ----------------  ------------- 
                    Net cash from / (used in) 
 3.10                financing activities                              -        (3,326) 
-----------------  -----------------------------------  ----------------  ------------- 
 
 4.                 Net increase / (decrease) 
                     in cash and cash equivalents 
                     for the period 
                    Cash and cash equivalents 
 4.1                 at beginning of period                       15,771         33,800 
                    Net cash from / (used in) 
                     operating activities (item 
 4.2                 1.9 above)                                    (737)        (2,418) 
                    Net cash from / (used in) 
                     investing activities (item 
 4.3                 2.6 above)                                  (2,097)       (16,055) 
                    Net cash from / (used in) 
                     financing activities (item 
 4.4                 3.10 above)                                       -        (3,326) 
                    Effect of movement in exchange 
 4.5                 rates on cash held                            (558)            378 
                                                        ----------------  ------------- 
                    Cash and cash equivalents 
 4.6                 at end of period                             12,379         12,379 
-----------------  -----------------------------------  ----------------  ------------- 
 
 
               5.   Reconciliation of cash and           Current quarter   Previous quarter 
                     cash equivalents                         $A'000            $A'000 
                     at the end of the quarter 
                     (as shown in the consolidated 
                     statement of cash flows) to 
                     the related items in the accounts 
 5.1                Bank balances                                 12,379              8,501 
 5.2                Call deposits                                      -                  - 
 5.3                Bank overdrafts                                    -                  - 
 5.4                Other (term deposit)                               -              7,270 
                                                        ----------------  ----------------- 
                    Cash and cash equivalents 
                     at end of quarter (should 
 5.5                 equal item 4.6 above)                        12,379             15,771 
-----------------  -----------------------------------  ----------------  ----------------- 
 
 
               6.    Payments to related parties of the entity    Current quarter 
                      and their associates                             $A'000 
                     Aggregate amount of payments to related 
                      parties and their associates included in 
 6.1                  item 1                                                  104 
                                                                 ---------------- 
 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. 
 

Payments included in item 6.1 relates to payment of director fees ($104k)

 
               7.   Financing facilities                    Total facility      Amount drawn 
                     Note: the term "facility'             amount at quarter    at quarter end 
                     includes all forms of financing              end               $A'000 
                     arrangements available to                  $A'000 
                     the entity. Add notes as necessary 
                     for an understanding of the 
                     sources of finance available 
                     to the entity. 
 7.1                Loan facilities                                        -                 - 
                                                         -------------------  ---------------- 
 7.2                Credit standby arrangements                            -                 - 
                                                         -------------------  ---------------- 
 7.3                Other (please specify)                                 -                 - 
                                                         -------------------  ---------------- 
 7.4                Total financing facilities                             -                 - 
                                                         -------------------  ---------------- 
 
 7.5                Unused financing facilities available at                                 - 
                     quarter end 
                                                                              ---------------- 
 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. 
-----------------  --------------------------------------------------------------------------- 
 
 
 
               8.   Estimated cash available for future operating             $A'000 
                     activities 
                    Net cash from / (used in) operating activities 
 8.1                 (item 1.9)                                                  (737) 
 8.2                Payments for exploration & evaluation classified                 - 
                     as investing activities (item 2.1(d)) 
  8.2a               Other (funding of joint venture) (item 2.5)              (2,097)* 
 8.3                Total relevant outgoings (item 8.1 + item                  (2,834) 
                     8.2 + item 8.2a) 
 8.4                Cash and cash equivalents at quarter end                    12,379 
                     (item 4.6) 
 8.5                Unused finance facilities available at quarter                   - 
                     end (item 7.5) 
                                                                           ----------- 
 8.6                Total available funding (item 8.4 + item                    12,379 
                     8.5) 
                                                                           ----------- 
 
                    Estimated quarters of funding available 
 8.7                 (item 8.6 divided by item 8.3)                                4.4 
                                                                           ----------- 
                    Note: if the entity has reported positive relevant outgoings 
                     (ie a net cash inflow) in item 8.3, answer item 8.7 as 
                     "N/A". Otherwise, a figure for the estimated quarters 
                     of funding available must be included in item 8.7. 
                     * The Company considers it appropriate to include cash 
                     outflows related to the funding of joint venture (investing 
                     activities) in this table given its ongoing obligation 
                     to fund these activities. 
 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 October 2020............................................................... 

Authorised by: By the Audit and Risk 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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