import ann just out to asx Adjustment to Cashflow - 2004 Annual...

import ann just out to asx Adjustment to Cashflow - 2004 Annual Report

ASX Announcement
Date 1ST
December2004
ANDEAN RESOURCES LIMITED
A.C.N. 064 494 319
1/1 Nairn Street
Fremantle WA. 6160
T: 61 8 9430 9966
F: 61 2 9430 9965
Contact:
Warren Gilmour
Director
Tel: 0402 116 261
E-mail [email protected]
Morrice Cordiner
Director
Tel: 0412 270 761
E-mail [email protected]
Andean Resources Limited is listed
on the ASX with the symbol “AND”.
ADJUSTMENT TO CASHFLOW
2004 ANNUAL REPORT
The Company advises that its auditors have brought to its attention
that the consolidated statement of cash flows contained in its 2004
Annual Report has typographical errors in respect of 2004
consolidated exploration expenditure and consolidated net cash
inflow from investing activities.
Attached please find an amended consolidated statement of cash
flows rectifying these typographical errors.
For further information please contact:
Warren Gilmour
Chairman
Tel: 08 – 9430 9966
Mobile: 0402 116 261
FINANCIAL REPORT
ANDEAN RESOURCES LIMITED AND CONTROLLED ENTITES
STATEMENTS OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2004
CONSOLIDATED PARENT ENTITY
2004
$
2003
$
2004
$
2003
$
NOTES
INFLOWS
(OUTFLOWS)
INFLOWS
(OUTFLOWS)
INFLOWS
(OUTFLOWS)
INFLOWS
(OUTFLOWS)
Cash flows from operating activities
Receipts from customers 440,763 780,360 - -
Payments to suppliers and employees (696,167) (1,297,573) (571,501) (133,625)
Interest received 10,975 - 9,819 -
Other income 14,377 294,751 - 256,769
Interest expense (23,519) - - -
Net cash inflow/(outflow) from operating activities 5 (253,571) (222,462) (561,682) 123,144
Cash flows from investing activities
Proceeds from sale of investments 12,350 - 12,350 41,634
Proceeds from sale of plant and equipment 10,000 41,634 10,000 -
Payment for property, plant and equipment (19,583) (19,583)
Payment for intangibles - (29,978) - -
Proceeds from relinquished tenements - 44,160 - 44,160
Exploration expenditure (1,444,640) - (3,684) (29,978)
Net cash inflow from investing activities (1,441,873) 55,816 (917) 55,816
Cash flows from financing activities
Proceeds from share issues 2,104,425 - 2,104,425 -
Loan proceeds from related party - 229,096 - -
Proceeds from exercise of options 214 - 214 -
Loans provided to controlled entities - - (1,010,853) (206,000)
Net cash inflow from financing activities 2,104,639 229,096 1,093,786 (206,000)
Net increase (decrease) in cash held 409,195 62,450 531,187 (27,040)
Cash at the beginning of the financial year 136,702 74,252 5,028 32,068
Cash at the end of the financial year 6 545,897 136,702 536,215 5,028
The above statements of cash flows should be read in conjunction with the accompanying notes