TIDMNYO
RNS Number : 6111L
Nyota Minerals Limited
20 July 2017
For immediate release
20 July 2017
Nyota Minerals Limited
('Nyota' or 'the Company')
Quarterly Report
Nyota Minerals Limited (ASX/AIM: NYO) provides its Quarterly
Report for the three months ended 30 June 2017.
Finance
At 30 June 2017 the Company had cash of approximately
AUD$57K.
During the period, the Company raised proceeds of GBP56,328
(approximately AUD$97K) from the issue of shares via the placement
that was announced on the ASX on 4 May 2017 and approximately
AUD$19K from the sale of its residual tenements.
Corporate Activity
During the quarter, the Company reached an agreement with
Peterhouse Corporate Finance Limited (Peterhouse) for further
funding. However, at the general meeting of the Company held on 3
July 2017 the necessary shareholder votes to put the funding
strategy in place were not forthcoming and Peterhouse subsequently
resigned as the Company's broker effective 17 August 2017 as
announced on the ASX on 19 July 2017.
The board remains in discussions with respect to raising further
capital. The final terms remain subject to negotiation with the
proposed investors. No guarantee can be provided that terms will be
agreed and that a capital raising will eventuate. The Company will
provide a further update to shareholders as soon as practical.
New Business Opportunities
The board remains committed to finding a viable new business for
the Company and securing long term value for shareholders.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 956/2014.
For more information please visit www.nyotaminerals.com or
contact:
Sergey Budkin Director, Nyota Minerals sergey.budkin@finpoint.kiev.ua
Limited
Michael Cornish Beaumont Cornish Limited +44 (0) 207
James Biddle Nominated Advisor 628 3396
Forward-Looking Statements
This press release contains forward-looking statements in
relation to the Company and its subsidiaries (the "Group"),
including, but not limited to, the Group's proposed strategy, plans
and objectives, future commercial production, sales and financial
results, development, construction and production targets and
timetables, mining costs and economic viability and profitability.
Such statements are generally identifiable by the terminology used,
such as "may", "will", "could", "should", "would", "anticipate",
"believe", "intend", "expect", "plan", "estimate", "budget",
"outlook" or other similar wording. By its very nature, such
forward-looking information requires the Company to make
assumptions that may not materialise or that may not be accurate.
Such forward-looking statements involve known and unknown risks,
uncertainties and other important factors beyond the control of the
Group that could cause the actual performance or achievements of
the Group to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. Furthermore, the forward-looking
information contained in the press release is made as of the date
of the press release and accordingly, you should not rely on any
forward-looking statements and the Group accepts no obligation to
disseminate any updates or revisions to such forward-looking
statements. The forward-looking information contained in this press
release is expressly qualified by this cautionary statement.
Neither the contents of the Company's website nor the contents
of any websites accessible from hyperlinks in the Company's website
(or any other website) is incorporated into or forms part of, this
announcement.
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
-------------------------------------------
Nyota Minerals Limited
-------------------------------------------
ABN Quarter ended ("current
quarter")
--------------- ------------------------
98 060 938 552 30 June 2017
--------------- ------------------------
Consolidated statement Current quarter Year to date
of cash flows $A'000 (12 months)
$A'000
--------------------------------------- ---------------- -------------
1. Cash flows from operating
activities
1.1 Receipts from customers
1.2 Payments for
(a) exploration & evaluation - (19)
(b) development
(c) production
(d) staff costs
(e) administration
and corporate costs (129) (511)
1.3 Dividends received
(see note 3)
1.4 Interest received
1.5 Interest and other
costs of finance paid
1.6 Income taxes paid
1.7 Research and development
refunds
Other (provide details
1.8 if material) 12 34
---------------- -------------
Net cash from / (used
1.9 in) operating activities (117) (496)
----- -------------------------------- ---------------- -------------
2. Cash flows from investing
activities
2.1 Payments to acquire:
(a) property, plant
and equipment
(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) 19 19
(c) investments - 47
(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 from / (used
2.6 in) investing activities 19 66
------- ------------------------------ ---------------- -------------
3. Cash flows from financing
activities
Proceeds from issues
3.1 of shares 97 97
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 - 341
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)
---------------- -------------
Net cash from / (used
3.10 in) financing activities 97 438
------- ------------------------------ ---------------- -------------
4. Net increase / (decrease)
in cash and cash equivalents
for the period
Cash and cash equivalents
4.1 at beginning of period 58 49
Net cash from / (used
in) operating activities
4.2 (item 1.9 above) (117) (496)
Net cash from / (used
in) investing activities
4.3 (item 2.6 above) 19 66
Net cash from / (used
in) financing activities
4.4 (item 3.10 above) 97 438
4.5 Effect of movement
in exchange rates on
cash held
---------------- -------------
Cash and cash equivalents
4.6 at end of period 57 57
------- ------------------------------ ---------------- -------------
5. Reconciliation of cash Current quarter Previous
and cash equivalents $A'000 quarter
at the end of the $A'000
quarter (as shown in
the consolidated statement
of cash flows) to the
related items in the
accounts
---- ---------------------------- ---------------- --------------------------------
5.1 Bank balances 57 58
5.2 Call deposits
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) 57 58
---- ---------------------------- ---------------- --------------------------------
6. Payments to directors of the entity Current quarter
and their associates $A'000
----------------
Aggregate amount of payments to
these parties included in item
6.1 1.2 17
----------------
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
---- --------------------------------------------------------
7. Payments to related entities of Current quarter
the entity and their associates $A'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 $A'000 $A'000
of the position
--------------- -------------
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.
---- ------------------------------------------------------------
The Company is in discussions with an incoming
investor group. The Company will provide a further
update to shareholders as soon as practical.
------------------------------------------------------------------
9. Estimated cash outflows $A'000
for next quarter
---- ------------------------------ -------
9.1 Exploration and evaluation
9.2 Development
9.3 Production
9.4 Staff costs
Administration and corporate
9.5 costs 150
9.6 Other (provide details if
material)
-------
9.7 Total estimated cash outflows 150
---- ------------------------------ -------
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)
----- ---------------------- -------------- ------------------- -------------- ------------
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.
Sign here:
............................................................ Date:
.............................................
(Director/Company secretary)
Print name: ANDREW D.L. WRIGHT
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.
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
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