Mining exploration entity quarterly report

 
TIDMMML 
 
Rule 5.3 
                        MEDUSA MINING LIMITED 
                             (AIM: MML) 
 
                             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 
  MEDUSA MINING LIMITED 
 
 
 
  ACN or ARBN     Quarter ended ("current quarter") 
  099 377 849     31 March 2009 
 
Consolidated statement of cash flows 
 
                                                 Current Year to date 
                                                 quarter  (6 months) 
                                                 $A'000     $A'000 
     CASH FLOWS RELATING TO OPERATING ACTIVITIES 
1.1  Receipts from product sales and related      12,344       32,834 
     debtors 
1.2  Payments for  (a)  exploration and          (3,149)      (8,678) 
     evaluation 
     (b)  operation                              (2,968)      (7,713) 
     (c)  administration                           (867)      (2,443) 
1.3  Interest and other items of a similar            28           51 
     nature received 
1.4  Other                                             -            - 
     Net operating cash flows                      5,387       14,052 
     CASH FLOWS RELATING TO INVESTING ACTIVITIES 
1.5  Payments for (a) prospects                        -            - 
     (b) equity investment                             -            - 
     (c) fixed assets                            (2,591)      (4,921) 
     (d) development                             (4,147)     (11,475) 
1.6  Proceeds from sale of: (a) prospects              -            - 
     (b) equity investments                            -            - 
     (c) fixed assets                                  -            - 
1.7  Loans to other entities                           -            - 
1.8  Other (provide details if material)               -            - 
     Net investing cash flows                    (6,738)     (16,396) 
1.9  Total operating and investing cash flows    (1,350)      (2,344) 
     (carried forward) 
     CASH FLOWS RELATING TO FINANCING ACTIVITIES 
1.10 Proceeds from issues of shares, options,     24,563       25,643 
     etc. 
1.11 Proceeds from borrowings                          -            - 
1.12 Repayment of borrowings                           -            - 
1.13 Other (issue expenses)                      (1,300)      (1,300) 
     Net financing cash flows                     23,263       24,343 
     Net increase (decrease) in cash held         21,913       21,999 
     (carried forward) 
     Net increase (decrease) in cash held 
     (brought forward)                            21,913       21,999 
1.14 Cash at beginning of quarter/year to 
     date                                          5,737        4,834 
1.15 Exchange rate adjustments to item 1.14         (69)          748 
1.16 Cash at end of quarter                       27,581       27,581 
 
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 
1.17 Aggregate amount of payments to the parties                  380 
     included in item 1.2 
1.18 Aggregate amount of loans to the parties                       - 
     included in item 1.7 
1.19 Explanation necessary for an understanding of the transactions 
     Salaries and consulting fees paid to Directors of the Company 
 
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 
 
 
 
 
 
 
 
 
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 
 
 
 
 
 
 
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                            -           - 
3.2 Credit standby arrangements                -           - 
 
Estimated cash outflows for next quarter 
 
                               $A'000 
4.1 Exploration and evaluation  3,000 
4.2 Development                 4,000 
    Total                       7,000 
 
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                                  Current quarter Previous quarter 
accounts is as follows.                       $A'000           $A'000 
5.1   Cash on hand and at bank                 9,932            3,782 
5.2   Deposits at call                        17,649            1,955 
5.3   Bank overdraft                               -                - 
5.4   Other (provide details)                      -                - 
      Total: cash at end of quarter           27,581            5,737 
      (item 1.16) 
 
Changes in interests in mining tenements 
 
                            Tenement  Nature of Interest at Interest 
                            reference interest   beginning  at end of 
                                      (note 2)  of quarter   quarter 
 
6.1 Interests in mining 
    tenements relinquished,         -         -           -         - 
    reduced or lapsed 
6.2 Interests in mining 
    tenements acquired or           -         -           -         - 
    increased 
 
 
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 quoted   Issue   Amt paid 
                          number                    price    up per 
                                                     per    security 
                                                  security  (see note 
                                                  (see note    3) 
                                                     3) 
7.1  +Preference 
     securities 
     (description) 
7.2  Changes during 
     quarter 
     (a)  Increases 
     through issues      20,300,000    20,300,000     $1.21     $1.21 
     (b)  Decreases 
     through returns 
     of  capital, 
     buy-backs, 
     redemptions 
7.3  +Ordinary          166,607,548   166,607,548 
     securities 
7.4  Changes during 
     quarter 
     (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              5,030,000             - Exercise   Expiry 
     (description and                               price     date 
     conversion                                   (see note (see note 
     factor)                                         6)        6) 
7.8  Issued during        1,000,000             - 
     quarter 
7.9  Exercised during             -             - 
     quarter 
7.10 Expired during     (7,000,000)             - 
     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:   15 April 2009 
            Company Secretary 
Print name: Roy Daniel 
 
 
 
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. 
 
 
6.                Unlisted options: 
 
Number issued Exercise price Expiry date 
    2,000,000        $1.2500 01 Jun 2009 
      800,000        $0.7128 19 Dec 2009 
      600,000        $0.4334 23 Dec 2009 
      630,000        $1.2500 31 Mar 2011 
    1,000,000        $1.2500 22 Jan 2012 
 
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