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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Mod Resources Limited | LSE:MOD | London | Ordinary Share | AU000000MOD3 | ORD NPV (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 22.50 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMMOD
RNS Number : 2124X
MOD Resources Limited
26 April 2019
+Rule 5.5
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/13, 01/09/16
Hot Features
Premium
Name of entity
-----------------------------------------------------
MOD RESOURCES LIMITED
ABN Quarter ended ("current quarter")
--------------- ----------------------------------
78 003 103 544 31 March 2019
----------------------------------
Consolidated statement of cash Current quarter Year to date
flows $A'000
(3 months)
$A'000
1. Cash flows from operating
activities
1.1 Receipts from customers
1.2 Payments for
(a) exploration & evaluation(1) (1,659) (1,659)
(b) feasibility studies (1,660) (1,660)
(c) development - -
(d) production - -
(e) staff costs(2) (922) (922)
(f) administration and corporate
costs (835) (835)
1.3 Dividends received - -
1.4 Interest received 14 14
1.5 Interest and other costs of - -
finance paid
1.6 Income taxes paid - -
1.7 Research and development refunds - -
Other - MTR transaction, London
Stock Exchange listing and
1.8 Advisory fees(3) (210) (210)
---------------- ----------------
Net cash used in operating
1.9 activities (5,272) (5,272)
----- ------------------------------------- ---------------- ----------------
Notes
(1) Based on 100% of Exploration and Evaluation payments and
therefore includes Metal Tiger (MTR) 30% contribution on JV
licences (refer section 3.9).
(2) Payments include short term incentive awards for the 2018
year.
(3) Payments in relation to the completion of the MTR Transaction,
the dual listing on the London Stock Exchange and other advisory
fees.
--------------------------------------------------------------------------------
2. Cash flows from investing
activities
2.1 Payments to acquire:
(a) property, plant and equipment (155) (155)
(b) tenements (see item 10) - -
(c) investments - -
(d) other non-current assets - -
------- ----------------------------------- ---------------- ----------------
2.2 Proceeds from the disposal
of:
(a) property, plant and equipment
(b) tenements (see item 10) - -
(c) investments - -
(d) other non-current assets - -
2.3 Cash flows from loans to - -
other entities
2.4 Dividends received (see note - -
3)
2.5 Other (provide details if - -
material)
---------------- ----------------
Net cash used in investing
2.6 activities (155) (155)
------- ----------------------------------- ---------------- ----------------
3. Cash flows from financing
activities
3.1 Proceeds from issues of shares 15,125 15,125
3.2 Proceeds from issue of convertible - -
notes
3.3 Proceeds from exercise of - -
share options
Transaction costs related
to issues of shares, convertible
notes, options or performance
3.4 rights (1,078) (1,078)
3.5 Proceeds from borrowings - -
3.6 Repayment of borrowings - -
3.7 Transaction costs related
to loans and borrowings - -
3.8 Dividends paid - -
MTR contributions to Joint
3.9 Venture 233 233
---------------- ----------------
3.10 Net cash from financing activities 14,280 14,280
------- ----------------------------------- ---------------- ----------------
4. Net increase/(decrease) in
cash and cash equivalents
for the period
Cash and cash equivalents
4.1 at beginning of period 5,038 5,038
Net cash used in operating
4.2 activities (item 1.9 above) (5,272) (5,272)
Net cash used in investing
4.3 activities (item 2.6 above) (155) (155)
Net cash from financing activities
4.4 (item 3.10 above) 14,280 14,280
------- ----------------------------------- ---------------- ----------------
Effect of movement in exchange
4.5 rates on cash held (71) (71)
---------------- ----------------
Cash and cash equivalents
4.6 at end of period 13,820 13,820
------- ----------------------------------- ---------------- ----------------
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 2,820 3,038
5.2 Call deposits 11,000 2,000
5.3 Bank overdrafts - -
5.4 Other (provide details) - -
---------------- -----------------
Cash and cash equivalents
at end of quarter (should
5.5 equal item 4.6 above) 13,820 5,038
---- ----------------------------------- ---------------- -----------------
6. Payments to directors of the entity and Current quarter
their associates $A'000
Aggregate amount of payments to these parties
6.1 included in item 1.2 540
----------------
6.2 Aggregate amount of cash flow from loans -
to these parties included in item 2.3
----------------
6.3 Include below any explanation necessary to understand
the transactions included in items 6.1 and 6.2
----- ---------------------------------------------------------------------------
Included in 6.1 are payments for director fees, company secretarial
fees and short term incentive payments paid to a director or
director associated companies.
7. Payments to related entities of the entity Current quarter
and their associates $A'000
----------------
7.1 Aggregate amount of payments to these parties 245
included in item 1.2
----------------
7.2 Aggregate amount of cash flow from loans -
to these parties included in item 2.3
----------------
7.3 Include below any explanation necessary to understand
the transactions included in items 7.1 and 7.2
----- ---------------------------------------------------------------------------
Included in 7.1 are consultancy services for metallurgical
test work and feasibility study work provided by Independent
Metallurgical Operations Pty Ltd and Metallurgy Pty Ltd, companies
associated with Steve McGhee and consultancy services provided
by Integra Management Solutions a company associated with Bronwyn
Barnes.
8. Financing facilities available Total facility Amount drawn
Add notes as necessary for amount at quarter at quarter end
an understanding of the position end $A'000
$A'000
-------------------- ----------------
8.1 Loan facilities - -
-------------------- ----------------
8.2 Credit standby arrangements - -
-------------------- ----------------
8.3 Other (please specify) - -
-------------------- ----------------
8.4 Include below a description of each facility above, including
the lender, interest rate and whether it is secured or
unsecured. If any additional facilities have been entered
into or are proposed to be entered into after quarter
end, include details of those facilities as well.
----- ---------------------------------------------------------------------------
9. Estimated cash outflows for next $A'000
quarter
9.1 Exploration and evaluation(1) 2,000
9.2 Studies(2) 500
T3 Project capital cost and other
9.3 capital cost(3) 2,200
9.4 Staff costs 500
9.5 Administration and corporate costs 600
Other (provide details if material)
9.6 (4) 800
Other (provide details if material)
(5) (250)
-----------------------------------
9.7 Total estimated cash outflow 6,350
----- -------------------------------------------------------- -----------------------------------
Notes:
1. Predominantly consisting infill drilling on the T3 Copper
Project, T3 Underground Project, T4-T23 area and A4 Dome.
2. Costs associated with the T3 Feasibility Study and further
study work on the T3 Underground Project.
3. Predominantly consisting the payment to complete the purchase
the farm on which the T3 Copper Project is located, subject
to MOD taking a decision to develop the T3 Copper Project.
4(.) Success fees in relation to the MTR Transaction and fees
for advisors and independent technical experts on the strategic
investor and debt process for the T3 Copper Project.
5 Reflects the MTR JV contributions.
10. Changes in tenements Tenement Nature of interest Interest Interest
(items 2.1(b) reference at beginning at end
and 2.2(b) above) and location of quarter of quarter
------- --------------------- -------------- --------------------- -------------- -----------------
10.1 Interests in -
mining tenements
and petroleum
tenements lapsed,
relinquished
or reduced
------- --------------------- -------------- --------------------- -------------- -----------------
10.2 Interests in -
mining tenements
and petroleum
tenements acquired
or increased
------- --------------------- -------------- --------------------- -------------- -----------------
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.
Mark Clements
Company Secretary
26 April 2019
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 that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.
2. If this quarterly 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 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.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
MSCCKADBPBKKPQB
(END) Dow Jones Newswires
April 26, 2019 04:02 ET (08:02 GMT)
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