Cash at end of quarter $20,098mil
Appendix 5B
Mining exploration entity quarterly report
+ See chapter 19 for defined terms.
30/9/2001 Appendix 5B Page 1
Rule 5.3
Appendix 5B
Mining exploration entity quarterly report
Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.
Name of entity
WESTERN METALS LIMITED
ABN
Quarter ended (“current quarter”)
69 009 150 618
31 DECEMBER2008
Consolidated statement of cash flows
Cash flows related to operating activities
Current quarter
$A’000
Year to date (6.months)
$A’000
1.1
Receipts from product sales and related debtors
-
24
1.2
Payments for (a) exploration and evaluation
(b) development
(c) production
(d) administration
(1,247)
-
-
(1,284)
(2,680)
-
-
(3,444)
1.3
Dividends received
-
-
1.4
Interest and other items of a similar nature received
299
678
1.5
Interest and other costs of finance paid
1.6
Income taxes paid
1.7
Other – R&D Rebate Received
155
155
Net Operating Cash Flows
(2,077)
(5,267)
Cash flows related to investing activities
1.8
Payment for purchases of: (a) prospects
(b) equity investments
(c) other fixed assets
-
-
(9)
-
-
(267)
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)
-
-
Net investing cash flows
(9)
(267)
1.13
Total operating and investing cash flows (carried forward)
(2,086)
(5,534)
Appendix 5B
Mining exploration entity quarterly report
+ See chapter 19 for defined terms.
Appendix 5B Page 2 30/9/2001
1.13
Total operating and investing cash flows (brought forward)
(2,086)
(5,534)
Cash flows related to financing activities
1.14
Proceeds from issues of shares, options, 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
-
-
Net financing cash flows
-
-
Net increase (decrease) in cash held
(2,086)
(5,534)
1.20
Cash at beginning of quarter/year to date
21,300
24,255
1.21
Exchange rate adjustments to item 1.20
884
1,377
1.22
Cash at end of quarter
20,098
20,098
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 item 1.2
289
1.24
Aggregate amount of loans to the parties included in item 1.10
-
1.25
Explanation necessary for an understanding of the transactions
Salary plus superannuation paid to Directors = $289k
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
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
Appendix 5B
Mining exploration entity quarterly report
+ See chapter 19 for defined terms.
30/9/2001 Appendix 5B Page 3
Financing facilities available
Add notes as necessary for an understanding of the position.
Amount available
$A’000
Amount used
$A’000
3.1
Loan facilities
3.2
Credit standby arrangements
Estimated cash outflows for next quarter
$A’000
4.1
Exploration and evaluation
338
4.2
Development
-
Total
338
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.
Current quarter
$A’000
Previous quarter
$A’000
5.1
Cash on hand and at bank
5,839
1,027
5.2
Deposits at call
14,259
20,273
5.3
Bank overdraft
-
-
5.4
Other (provide details)
-
-
Total: cash at end of quarter (item 1.22)
20,098
21,300
Changes in interests in mining tenements
Tenement reference
Nature of interest
(note (2))
Interest at beginning of quarter
Interest at end of quarter
6.1
Interests in mining tenements relinquished, reduced or lapsed
PLR4347/2006
42.5%
0%
6.2
Interests in mining tenements acquired or increased
Appendix 5B
Mining exploration entity quarterly report
+ See chapter 19 for defined terms.
Appendix 5B Page 4 30/9/2001
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.
Total number
Number quoted
Issue price per security (see note 3) (cents)
Amount paid up per security (see 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 securities
621,550,796
621,550,796
7.4
Changes during 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
Appendix 5B
Mining exploration entity quarterly report
+ See chapter 19 for defined terms.
7.7
Options (description and conversion factor)
500,000
19,250,000
70,833,333
15,000,000
3,000,000
3,000,000
6,000,000
6,000,000
2,000,000
2,000,000
12,000,000
6,000,000
500,000
500,000
4,775,000
500,000
500,000
19,250,000
70,833,333
15,000,000
3,000,000
3,000,000
6,000,000
6,000,000
2,000,000
2,000,000
12,000,000
6,000,000
500,000
500,000
4,775,000
500,000
Exercise price
$0.025
$0.05
$0.35
$0.35
$0.15
$0.25
$0.30
$0.45
$0.45
$0.65
$0.35
$0.20
$0.26
$0.25
$0.20
$0.25
Expiry date
30/04/2011
30/04/2011
30/04/2010
30/04/2010
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2010
30/06/2012
30/06/2012
30/06/2012
30/06/2012
7.8
Issued during quarter
-
-
-
-
7.9
Exercised during quarter
-
-
-
-
7.10
Expired during quarter
1,750,000
3,750,000
3,406,848
6,000,000
1,750,000
3,750,000
3,406,848
6,000,000
$0.025
$0.05
$0.15
$0.26
30/04/2011
30/04/2011
07/12/2008
30/06/2011
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.
Sign here: ............................................................ Date: 30 January 2009
Company secretary
Print name: Morgan Ball
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.
30/9/2001 Appendix 5B Page 5
Appendix 5B
Mining exploration entity quarterly report
+ See chapter 19 for defined terms.
Appendix 5B Page 6 30/9/2001
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 ASX 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.
== == == == ==
WMT
western metals limited
