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MCM Mc Mining Limited

7.60
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Mc Mining Limited LSE:MCM London Ordinary Share AU000000MCM9 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 7.60 7.20 8.00 7.60 7.60 7.60 0.00 07:36:30
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Bitmns Coal Undergrnd Mining 46.06M -4.32M -0.0106 -7.17 31M

MC Mining Limited Appendix 5B (3924D)

31/01/2018 7:01am

UK Regulatory


Mc Mining (LSE:MCM)
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From Mar 2019 to Mar 2024

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TIDMMCM

RNS Number : 3924D

MC Mining Limited

31 January 2018

+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

 
 Name of entity 
------------------------------------------- 
 MC Mining Limited 
------------------------------------------- 
 ABN                Quarter ended ("current 
                     quarter") 
---------------    ------------------------ 
 98 008 905 388     31 December 2017 
---------------    ------------------------ 
 
 
 Consolidated statement                   Current quarter           Year to date 
  of cash flows                               US$'000                (6 months) 
                                                                       US$'000 
---------------------------------------  ----------------  ----------------------------- 
 1.     Cash flows from operating 
         activities 
 1.1    Receipts from customers                     7,438                         16,167 
 1.2    Payments for 
        (a) exploration & evaluation 
        (b) development                                 -                              - 
        (c) production                            (7,107)                       (13,045) 
        (d) staff costs                             (842)                        (1,782) 
        (e) administration 
         and corporate costs                      (2,340)                        (5,787) 
 1.3    Dividends received                              -                              - 
         (see note 3) 
 1.4    Interest received                               1                            105 
 1.5    Interest and other                              -                              - 
         costs of finance paid 
 1.6    Income taxes paid                           (868)                          (868) 
 1.7    Research and development                        -                              - 
         refunds 
 1.8    Other (provide details                          -                              - 
         if material) 
                                         ----------------  ----------------------------- 
        Net cash (used in) 
 1.9     / from operating activities              (3,718)                        (5,210) 
-----  --------------------------------  ----------------  ----------------------------- 
 
 2.       Cash flows from investing 
           activities 
 2.1      Payments to acquire:                          -                              - 
          (a) property, plant 
           and equipment                            (323)                          (481) 
          (b) tenements (see                            -                              - 
           item 10) 
          (c) investments                           (255)                          (478) 
          (d) other non-current                         -                              - 
           assets 
 2.2      Proceeds from the disposal 
           of: 
          (a) property, plant 
           and equipment                                -                              - 
          (b) tenements (see                            -                              - 
           item 10) 
          (c) investments                           5,730                          5,730 
          (d) other non-current                         -                              - 
           assets 
          Cash flows from loans 
 2.3       to other entities                          371                            591 
 2.4      Dividends received                            -                              - 
           (see note 3) 
 2.5      Other (provide details 
           if material) 
                                         ----------------  ----------------------------- 
          Net cash from / (used 
 2.6       in) investing activities                 5,523                          5,362 
-------  ------------------------------  ----------------  ----------------------------- 
 
 3.       Cash flows from financing 
           activities 
 3.1      Proceeds from issues                          -                              - 
           of shares 
 3.2      Proceeds from issue                           -                              - 
           of convertible notes 
 3.3      Proceeds from exercise                        -                              - 
           of share options 
 3.4      Transaction costs related                     -                              - 
           to issues of shares, 
           convertible notes or 
           options 
 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) 
                                         ----------------  ----------------------------- 
 3.10     Net cash from / (used                         -                              - 
           in) financing activities 
-------  ------------------------------  ----------------  ----------------------------- 
 
 4.       Net increase / (decrease) 
           in cash and cash equivalents 
           for the period 
          Cash and cash equivalents 
 4.1       at beginning of period                   7,776                          9,669 
          Net cash (used in) 
           / from operating activities 
 4.2       (item 1.9 above)                       (3,718)                        (5,210) 
          Net cash from / (used 
           in) investing activities 
 4.3       (item 2.6 above)                         5,523                          5,362 
 4.4      Net cash from / (used                         -                              - 
           in) financing activities 
           (item 3.10 above) 
          Effect of movement 
           in exchange rates on 
 4.5       cash held                                   95                          (145) 
                                         ----------------  ----------------------------- 
          Cash and cash equivalents 
 4.6       at end of period                         9,676                          9,676 
-------  ------------------------------  ----------------  ----------------------------- 
 
 
 
 5.    Reconciliation of cash           Current quarter   Previous 
        and cash equivalents                US$'000        quarter 
        at the end of the quarter                          US$'000 
        (as shown in the consolidated 
        statement of cash flows) 
        to the related items 
        in the accounts 
----  -------------------------------  ----------------  --------- 
 5.1   Bank balances                              9,641      7,744 
 5.2   Call deposits                                 35         32 
 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)                     9,676      7,776 
----  -------------------------------  ----------------  --------- 
 
 
 6.    Payments to directors of the entity     Current quarter 
        and their associates                       US$'000 
                                              ---------------- 
       Aggregate amount of payments to 
        these parties included in item 
 6.1    1.2                                                419 
                                              ---------------- 
 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 
----  -------------------------------------------------------- 
 Salary payments for the quarter made to Non-Executive 
  and Executive directors. 
-------------------------------------------------------------- 
 
 
 7.    Payments to related entities of         Current quarter 
        the entity and their associates            US$'000 
                                              ---------------- 
 7.1   Aggregate amount of payments to 
        these parties 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 
----  -------------------------------------------------------- 
 
 
 
 8.    Financing facilities          Total facility   Amount drawn 
        available                       amount at      at quarter 
        Add notes as necessary         quarter end         end 
        for an understanding             US$'000         US$'000 
        of the position 
                                    ---------------  ------------- 
 8.1   Loan facilities                        9,702          9,702 
                                    ---------------  ------------- 
 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. 
----  ------------------------------------------------------------ 
 US$9.7 million facility of the US$ 19.4 million 
  provided by the Industrial Development Corporation 
  of South Africa to the company's subsidiary 
  is still available for drawdown. The loan is 
  payable on the third anniversary of each advance 
  plus a real after tax rate of return of 16% 
  on the advanced amount. 
------------------------------------------------------------------ 
 
 
 9.    Estimated cash outflows         US$'000 
        for next quarter 
----  ------------------------------  --------- 
 9.1   Exploration and evaluation       (2,236) 
 9.2   Development 
 9.3   Production                       (5,724) 
 9.4   Staff costs                        (629) 
       Administration and corporate 
 9.5    costs                           (1,812) 
 9.6   Other                            (1,313) 
                                      --------- 
 9.7   Total estimated cash outflows   (11,714) 
----  ------------------------------  --------- 
 
 
 10.    Changes in              Tenement                     Nature of interest        Interest        Interest 
         tenements               reference                                              at beginning    at end 
         (items 2.1(b)           and location                                           of quarter      of quarter 
         and 2.2(b) 
         above) 
-----  ----------------------  ---------------------------  ------------------------  --------------  ------------ 
                                                             Portions1, 
                                                              9, 14, 17, 
                                                              18, 19, 20 
                                                              & Remaining 
                                                              Extent of Mooiplaats 
                                                              290 IT 
                                                              Portion 2, 
                                                              3 and Remaining 
                                                              Extent of Klipbank 
                                                              295 IT 
                                                              Portions 1, 
                                                              2 and Remaining 
                                                              Extent and 
                                                              Adrianople 
                                                              296 IT 
                                                              Portions 2 
                                                              & 3 of Willemsdal 
                                                              330 IT 
                                                              Portions 2, 
                                                              3, 4 & Remaining 
                                                              Extent of De 
                                                              Emigratie 327 
                                                              IT 
        Interests                                             Remaining Extent 
         in mining                                            and Portions 
         tenements                                            2, 5, 8, 10 
         and petroleum                                        & 13 of Buhrmansvallei 
         tenements              Mooiplaats                    297 IT 
         lapsed, relinquished    Colliery                     Klipfontein 
 10.1    or reduced              and prospects(Mpumalanga)    442 IT                   74%             0% 
-----  ----------------------  ---------------------------  ------------------------  --------------  ------------ 
 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. 

Sign here: ............................................................ Date: .............................................

(Director/Company secretary)

   Print name:       ......................................................... 

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 company news service from the London Stock Exchange

END

MSCWGUUUGUPRGMU

(END) Dow Jones Newswires

January 31, 2018 02:01 ET (07:01 GMT)

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