FINDERS RESOURCES LIMITED Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
Appendix 5B
+Rule 5.5
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
Finders Resources Limited
ABN
82 108 547 413
Quarter ended ("current quarter")
31 December 2018
Consolidated statement of cash flows | Current quarter $A'000 | Year to date (12 months) $A'000 |
| 31,062 - - (20,646) (5,090) (88) - 76 (1,382) - - - | 153,903 - - (88,995) (18,253) (2,297) - 287 (6,212) - - - |
3,932 | 38,433 |
2. | Cash flows from investing activities | |
2.1 | Payments to acquire: | |
(a) property, plant and equipment | (10,242) | (12,081) |
(b) tenements (see item 10) | - | - |
(c) investments | - | - |
(d) other non-current assets | - | - |
+ See chapter 19 for defined terms 1 September 2016
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Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
Consolidated statement of cash flows | Current quarter $A'000 | Year to date (12 months) $A'000 |
| - - - - - - - | - - - - - - - |
(10,242) | (12,081) |
| - - - - 14,801 (12,354) - - (3,429) | 2,260 - - - 42,124 (56,257) - - (15,410) |
(982) | (27,283) |
| 21,532 3,932 (10,242) (982) 59 | 13,766 38,433 (12,081) (27,283) 1,464 |
14,299 | 14,299 |
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Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts | Current quarter $A'000 | Previous quarter $A'000 |
| 1,422 - - 12,877 | 9,024 - - 12,508 |
14,299 | 21,532 |
6. Payments to directors of the entity and their associates
6.1 Aggregate amount of payments to these parties included in item 1.2
6.2 Aggregate amount of cash flow from loans to these parties included in item 2.3
Current quarter
$A'000
6.3 Include below any explanation necessary to understand the transactions included in items 6.1 and 6.2
459 -
7. Payments to related entities of the entity and their associates
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
Current quarter
$A'000
7.3 Include below any explanation necessary to understand the transactions included in items 7.1 and 7.2
- -
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Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
8. Financing facilities available
Add notes as necessary for an understanding of the position
8.1 Loan facilities
8.2 Credit standby arrangements
8.3 Other (please specify)
Total facility amount at quarter end
$A'000
Amount drawn at quarter end
$A'000
29,771
29,771
-
-
41,112
41,112
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.
The Group has a Senior Secured Project Finance Facility Agreement with a syndicate of banks consisting of a term loan (US$21.0M outstanding) and a cost overrun facility (nil outstanding). The interest rate is are 3-month LIBOR plus a margin, 5.50% for the term loan facility.
The Group has a US$44.0 million of shareholder loan facilities provided by PT Merdeka Gold Tbk and Posco Deawoo Corporation. These shareholder loan facilities were drawn to US$29.0 million as at 31 December 2018. Interest rates are 10% for the first US$19.0 million and 3M LIBOR plus a margin, 5.50% thereafter.
9. Estimated cash outflows for next quarter | $A'000 |
| 1,400 12,500 23,000 3,750 750 - 625 29,200 2,900 |
9.7 Total estimated cash outflows | 74,125 |
Production for Q4 2018 was below the 2018 trend and is expected to reverse in Q1 2019. Substantial capex required for the Lerokis Haul Road and Neutralisation Plant implementation. The final project finance bullet payment of US$21m is due on 31 March 2019. These will be paid from facilities announced on 22 January 2019.
10. Changes in tenements (items 2.1(b) and 2.2(b) above) | Tenement reference and location | Nature of interest | Interest at beginning of quarter | Interest at end 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 |
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Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
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: 31 January 2019
(Director)
Print name: David Fowler
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.
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Finders Resources Limited published this content on 01 February 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 01 February 2019 14:33:05 UTC
