Results

Sheffield Resources Limited

07/12/2018 | Press release | Distributed by Public on 07/11/2018 16:39

Quarterly Cashflow 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

Sheffield Resources LimitedABN 29 125 811 083

Quarter ended ("current quarter")

30 June 2018

Consolidated statement of cash flows

Current quarter

$A'000

Year to date (12 months)

$A'000

  • 1. Cash flows from operating activities

  • 1.1 Receipts from customers

  • 1.2 Payments for:

    • (a) exploration & evaluation

    • (b) development (refer note below)

    • (c) production

    • (d) staff costs

    • (e) administration and corporate costs

  • 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

  • 1.8 Other:

    Note: development during the period

    includes a transfer of costs to exploration &

    evaluation

  • 1.9 Net cash from / (used in) operating activities

-

(1,355) 167

- (836) (299)

- 25 - - -

-

(2,088) (7,806)

- (2,360) (3,090)

- 328 - - -

(2,298)

(15,016)

2.

Cash flows from investing activities

2.1

Payments to acquire:

(a) property, plant and equipment

(31)

(95)

(b) tenements (see item 10)

-

-

Consolidated statement of cash flows

Current quarter

$A'000

Year to date (12 months)

$A'000

  • (c) investments

  • (d) other non-current assets

  • 2.2 Proceeds from the disposal of:

    • (a) property, plant and equipment

    • (b) tenements (see item 10)

    • (c) investments

    • (d) other financial assets

  • 2.3 Cash flows from loans to other entities

  • 2.4 Dividends received (see note 3)

  • 2.5 Other (R&D rebate for 2016 year)

  • 2.6 Net cash from / (used in) investing activities

- - - - - - - - -

- - 30 - - - - - -

(31)

(65)

  • 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

1 - -

(18)

- - - - -

32,002 - -

(2,174)

- - - - -

(17)

29,828

  • 4. Net increase / (decrease) in cash and cash equivalents for the period

  • 4.1 Cash and cash equivalents at beginning ofperiod

  • 4.2 Net cash from / (used in) operating activities (item 1.9 above)

  • 4.3 Net cash from / (used in) investing activities (item 2.6 above)

  • 4.4 Net cash from / (used in) financing activities (item 3.10 above)

25,426

8,333

(2,298)

(15,016)

(31)

(65)

(17)

29,828

Consolidated statement of cash flows

Current quarter

$A'000

Year to date (12 months)

$A'000

  • 4.5 Effect of movement in exchange rates on cash held

  • 4.6 Cash and cash equivalents at end of period

-

-

23,080

23,080

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

  • 5.1 Bank balances

  • 5.2 Term deposits

  • 5.3 Bank overdrafts

  • 5.4 Other (provide details)

  • 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above)

80 23,000 - -

8,136 23,500 - -

23,080

31,636

  • 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

    130

    -

  • 6.3 Include below any explanation necessary to understand the transactions included in items 6.1 and 6.2

Director fees and superannuation

  • 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

N/A

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)

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.

N/A

Total facility amount at quarter end

$A'000

Amount drawn at quarter end

$A'000

-

-

-

-

-

-

9.

Estimated cash outflows for next quarter

$A'000

  • 9.1 Exploration and evaluation

  • 9.2 Development

  • 9.3 Production

  • 9.4 Staff costs

  • 9.5 Administration and corporate costs

  • 9.6 Other (provide details if material)

  • 9.7 Total estimated cash outflows

1,000

2,500 -

850

500 -

4,850

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

E04/2478 - Canning Basin

L04/82 - Canning Basin

L04/83 - Canning Basin

E04/2494 - Canning Basin

Granted

Granted

Granted

Granted

Nil

Nil

Nil

Nil

100% 100% 100% 100%

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:

    ............................................................

    (Company secretary)

    Print name:

    Mark Di Silvio

    Notes

    Date: 12 July 2018

  • 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.

+ See chapter 19 for defined terms

1 September 2016