Quarterly Financial Report
31 January 2008 - 6:03PM
UK Regulatory
RNS Number:8751M
Gippsland Limited
31 January 2008
Gippsland Limited
Quarterly Financial Report
Period: 1 October - 31 December 2007
Consolidated statement of cash flows
Cash flows related to operating activities Current Year to date
quarter (6.months)
$A'000 $A'000
------------- -------------
1.1 Receipts from product sales and related
debtors
1.2 Payments for (a) exploration and (705) (1,428)
evaluation
(b) development (147) (329)
(c) production (544) (979)
(d) administration
1.3 Dividends received
1.4 Interest and other items of a similar 30 40
nature received
1.5 Interest and other costs of finance
paid
1.6 Income taxes paid
1.7 Other (provide details if material)
------------- -------------
Net Operating Cash Flows (1,366) (2,696)
----- ----------------------- ------------- -------------
Cash flows related to investing
activities
1.8 Payment for purchases of: (a)prospects - (25)
(b)equity investments
(c)other fixed assets
1.9 Proceeds from sale of: (a)prospects
(b)equity investments
(c)other fixed assets
1.10 Loans to other entities
1.11 Loans repaid by other entities
1.12 Other (provide details if material) 93 93
Reimbursement of office fit-out
------------- -------------
Net investing cash flows 93 68
------------- -------------
1.13 Total operating and investing cash (1,273) (2,628)
----- flows ------------- -------------
-----------------------
Cash flows related to financing
activities
1.14 Proceeds from issues of shares, options, 3,030 3,030
etc.
1.15 Proceeds from sale of forfeited shares
1.16 Proceeds from borrowings
1.17 Repayment of borrowings
1.18 Dividends paid
------------- -------------
1.19 Other (provide details if material) 115 115
Term Deposit
------------- -------------
Net financing cash flows (carried 3,145 3,145
----- forward) ------------- -------------
-----------------------
Net financing cash flows (brought forward) 3,145 3,145
------------- -------------
Net increase (decrease) in cash held 1,872 517
1.20 Cash at beginning of quarter/year to date 1,248 2,611
1.21 Exchange rate adjustments to item 1.20 (3) (11)
------------- -------------
1.22 Cash at end of quarter 3,117 3,117
----- ----------------------- ------------- -------------
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
-------------
-------------
1.23 Aggregate amount of payments to the parties included in 168
item 1.2 -------------
1.24 Aggregate amount of loans to the parties included in item Nil
----- 1.10 -------------
-----------------------------------
1.25 Explanation necessary for an understanding of the transactions
----------------------------------------------
Payments of consulting fees and directors fees to directors and director
related entities
----------------------------------------------
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
----------------------------------------------
None
----------------------------------------------
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
----------------------------------------------
None
----------------------------------------------
Financing facilities available
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 300
-------------
4.2 Development 100
----- ----------------------------------- -------------
Total 400
----- ----------------------------------- -------------
Reconciliation of cash
Reconciliation of cash at the end of the quarter Current Previous
(as shown in the consolidated statement of cash quarter quarter
flows) to the related items in the accounts is as $A'000 $A'000
follows. ------------- --------------
--------------------------
5.1 Cash on hand and at bank 2,889 612
------------- --------------
5.2 Deposits at call 228 636
------------- --------------
5.3 Bank overdraft
------------- --------------
5.4 Other (provide details)
----- ----------------------- ------------- --------------
Total: cash at end of quarter (item 1.22) 3,117 1,248
----- ----------------------- ------------- --------------
Changes in interests in mining tenements
Tenement Nature of Interest at Interest at
reference interest beginning of end of
---------- (note (2)) quarter quarter
----------- ---------- -----------
6.1 Interests in mining Nil
tenements relinquished, ---------- ----------- ---------- -----------
reduced or lapsed
6.2 Interests in mining Nil
tenements acquired or ---------- ----------- ---------- -----------
increased
Issued and quoted securities at end of current quarter
Total Number Issue price Amount paid
--------------- number quoted per security up per
----------- ----------- (see note 3) security (see
(cents) note 3)
---------- (cents)
-----------
-----------
7.1 Preference
----- +securities ----------- ----------- ---------- -----------
(description)
-------------
7.2 Changes during
quarter
(a) Increases
through issues
(b) Decreases
----- through returns ----------- ----------- ---------- -----------
of capital,
buy-backs,
redemptions
-------------
7.3 +Ordinary 293,198,772 293,198,772
securities ----------- ----------- ---------- -----------
7.4 Changes during 33,674,180 33,674,180
----- 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 25,000,000 - Exercise Expiry date
price
13.5 cents 26/05/12
----------- ----------- ---------- -----------
7.8 Issued during
quarter ----------- ----------- ---------- -----------
7.9 Exercised during 33,674,180 33,674,180 9 cents 31/12/07
quarter
GIPO
----------- ----------- ---------- -----------
7.10 Expired during 10,058,213 10,058,213 9 cents 31/12/07
quarter
GIPO 10,000,000 - 4 UK pence 31/12/07
4,500,000 - 15 cents 31/12/07
----- ------------- ----------- ----------- ---------- -----------
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.
Date: 31 January 2008
RJ Telford
Director
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: SX 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.
Enquiries:
RJ (Jack) Telford
Gippsland Limited
+61 (0)8 9340 6000
David Newton
Seymour Pierce Limited
+44 (0)207 107 8000
This information is provided by RNS
The company news service from the London Stock Exchange
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