Microsoft Word - 20140930 BYR Appendix 5B Sept 2014.doc
Appendix 5B Mining exploration entity quarterly report
Appendix 5B
Mining exploration entity quarterly report
Name of entity
BUREY GOLD LIMITED
ABN Quarter ended ("current quarter")
14 113 517 203 30 September 2014
Consolidated statement of cash flows
Cash flows related to operating activities
1.1 Receipts from product sales and related debtors
1.2 Payments for (a) exploration and evaluation
(b) development
(c) production
(d) administration
1.3 Dividends received
1.4 Interest and other items of a similar nature received
1.5 Interest and other costs of finance paid
1.6 Income taxes paid
1.7 Other
Net Operating Cash Flows
+ See chapter 19 for defined terms.
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Appendix 5B Mining exploration entity quarterly report
1.13 Total operating and investing cash flows (brought
forward)
|
(831)
|
(831)
|
Cash flows related to financing activities
1.14 Proceeds from issues of shares 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 - share issue expenses
Net financing cash flows
|
-
-
-
-
- (9)
|
-
-
-
-
- (9)
|
Cash flows related to financing activities
1.14 Proceeds from issues of shares 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 - share issue expenses
Net financing cash flows
|
(9)
|
(9)
|
Net increase (decrease) in cash held
1.20 Cash at beginning of quarter/year to date
1.21 Exchange rate adjustments to item 1.20
1.22 Cash at end of quarter
|
(840)
1,870
10
|
(840)
1,870
10
|
Net increase (decrease) in cash held
1.20 Cash at beginning of quarter/year to date
1.21 Exchange rate adjustments to item 1.20
1.22 Cash at end of quarter
|
1,040
|
1,040
|
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
$
1.23 Aggregate amount of payments to the parties included in item 1.2 82,898
1.24 Aggregate amount of loans to the parties included in item 1.10 -
1.25 Explanation necessary for an understanding of the transactions
Directors fees, consultancy charges and remuneration $62,427
Rent & outgoings $8,438
Other technical consulting fees $12,033
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
Settlement and completion of the transaction to acquire an 85% interest in the share capital of Amani Consulting sarl ("Amani"), the holder of a 65% interest in the share capital of Giro Goldfields Exploration sarl ("Giro sarl") was completed in September 2014. The total consideration paid by the Company comprises of a cash component of US$300,000 (being AUD$321,000 equivalent as noted at 1.8(b) above) and the following non-cash components:
• issue of 118,073,001 fully paid ordinary shares (at an issue price of $0.023 per share).
• 47,500,000 options exercisable at $0.05 each on or before 31 December 2016.
• the assignment of loans receivable from Amani of approximately US$1.15 million (representing past exploration expenditure funded by vendors of the interest acquired by Burey).
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
N/A
+ See chapter 19 for defined terms.
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Financing facilities available
Add notes as necessary for an understanding of the position.
Appendix 5B Mining exploration entity quarterly report
3.1 Loan facilities
3.2 Credit standby arrangements
Estimated cash outflows for next quarter
4.1 Exploration and evaluation
4.2 Development
4.3 Production
4.4 Administration
Reconciliation of cash
Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.
Changes in interests in mining tenements
6.1 Interests in mining tenements relinquished, reduced or lapsed
6.2 Interests in mining tenements acquired or increased
1 The Giro exploitation permits are held by Giro Goldfields Exploration sarl, whose shareholders are Amani Consulting sarl (65%) and Societe Miniere De Kilo Moto (35%). Burey has acquired 85% of the share capital in Amani Consulting sarl.
+ See chapter 19 for defined terms.
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Appendix 5B Mining exploration entity quarterly report
Issued and quoted securities at end of current quarter
Description includes rate of interest and any redemption or conversion rights together with prices and dates.
7.12 Unsecured notes
(totals only)
+ See chapter 19 for defined terms.
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Appendix 5B Mining exploration entity quarterly report
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.
2 This statement gives a true and fair view of the matters disclosed.
Sign here:
Print name: Susmit Shah
Director
Date: 31 October 2014
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 6: Exploration for and Evaluation of
Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.
== == == == ==
+ See chapter 19 for defined terms.
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