For personal use only

Rule 5.5

Appendix 5B

Mining exploration entity or oil and gas exploration entity

quarterly cash flow report

Name of entity

SensOre Ltd.

ABN

Quarter ended ("current quarter")

16 637 198 531

30 June 2022

Consolidated statement of cash flows

Current quarter

Year to date

$A'000

(12 months)

$A'000

1.

Cash flows from operating activities

1.1

Receipts from customers

61

288

1.2

Payments for

(a)

exploration & evaluation

(1,076)

(3,599)

(b)

development

-

-

(c)

production

-

-

(d)

staff costs

(182)

(781)

(e)

administration and corporate costs

(61)

(663)

1.3

Dividends received (see note 3)

-

-

1.4

Interest received

-

-

1.5

Interest and other costs of finance paid

(1)

(7)

1.6

Income taxes paid

-

-

1.7

Government grants and tax incentives

165

1,250

1.8

Other (provide details if material)

(a)

Payment for technology development

(907)

(2,410)

1.9

Net cash from / (used in) operating activities

(2,001)

(5,922)

2.

Cash flows from investing activities

2.1

Payments to acquire or for:

(a)

entities

-

-

(b)

tenements

-

-

(c)

property, plant and equipment

(15)

(28)

(d)

exploration & evaluation

(787)

(1,427)

(e)

investments

-

-

(f)

other non-current assets

-

-

ASX Listing Rules Appendix 5B (17/07/20)

Page 1

+ See chapter 19 of the ASX Listing Rules for defined terms.

For personal use only

Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Consolidated statement of cash flows

Current quarter

Year to date

$A'000

(12 months)

$A'000

2.2

Proceeds from the disposal of:

(a)

entities

-

-

(b)

tenements

-

-

(c)

property, plant and equipment

-

-

(d)

investments

-

-

(e)

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)

-

-

2.6

Net cash from / (used in) investing activities

(802)

(1,455)

3. Cash flows from financing activities

3.1 Proceeds from issues of equity securities

(excluding convertible debt securities)

-

9,839

3.2

Proceeds from issue of convertible debt

-

-

securities

3.3

Proceeds from exercise of options

-

-

3.4

Transaction costs related to issues of equity

-

(1,075)

securities or convertible debt securities

3.5

Proceeds from borrowings

-

-

3.6

Repayment of borrowings

(43)

(90)

3.7

Transaction costs related to loans and

-

-

borrowings

3.8

Dividends paid

-

-

3.9

Other (provide details if material)

-

-

(a) Proceeds from investment in Yilgarn

171

1,227

Exploration Ventures Pty Ltd by DGO Gold

Limited

3.10

Net cash from / (used in) financing activities

128

9,901

ASX Listing Rules Appendix 5B (17/07/20)

Page 2

+ See chapter 19 of the ASX Listing Rules for defined terms.

Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report

use only

Consolidated statement of cash flows

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

  1. Cash and cash equivalents at beginning of period
  2. Net cash from / (used in) operating activities (item 1.9 above)
  3. Net cash from / (used in) investing activities (item 2.6 above)
  4. Net cash from / (used in) financing activities (item 3.10 above)
  5. Effect of movement in exchange rates on cash held

Current quarter

Year to date

$A'000

(12 months)

$A'000

6,8031,604

(2,001)(5,922)

(802)(1,455)

1289,901

--

For personal

4.6 Cash and cash equivalents at end of period 4,128 4,128

5.

Reconciliation of cash and cash

Current quarter

Previous quarter

equivalents

$A'000

$A'000

at the end of the quarter (as shown in the

consolidated statement of cash flows) to the

related items in the accounts

5.1

Bank balances

4,075

6,750

5.2

Call deposits

53

53

5.3

Bank overdrafts

-

-

5.4

Other (provide details)

-

-

5.5

Cash and cash equivalents at end of quarter

4,128

6,803

(should equal item 4.6 above)

6.

Payments to related parties of the entity and their associates

Current quarter

$A'000

6.1

Aggregate amount of payments to related parties and their associates

195

included in item 1

6.2

Aggregate amount of payments to related parties and their associates

-

included in item 2

Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments.

Payments to related parties and their associates are wages, salaries and associated superannuation for executive directors of the Company. No other payments were made to related parties.

ASX Listing Rules Appendix 5B (17/07/20)

Page 3

+ See chapter 19 of the ASX Listing Rules for defined terms.

For personal use only

Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report

7.

Financing facilities

Total facility amount

Amount drawn at

Note: the term "facility' includes all forms of financing

at quarter end

quarter end

arrangements available to the entity.

$A'000

$A'000

Add notes as necessary for an understanding of the sources

of finance available to the entity.

7.1

Loan facilities

-

-

7.2

Credit standby arrangements

-

-

7.3

Other (please specify)

-

-

7.4

Total financing facilities

-

-

7.5 Unused financing facilities available at quarter end

7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well.

Repayment of borrowings stated in item 3.6 above relates to repayment of insurance premium funding and payment of the Company's operating lease obligations on its corporate offices. Neither of these borrowings represent a 'financing facility available' to SensOre and are therefore not included in items 7.1, 7.2 or 7.3 above.

ASX Listing Rules Appendix 5B (17/07/20)

Page 4

+ See chapter 19 of the ASX Listing Rules for defined terms.

Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report

8.

Estimated cash available for future operating activities

$A'000

For personal use only

8.1

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

(2,001)

8.2

Payments for exploration & evaluation classified as investing activities

(787)

(item 2.1(d))

8.3

Total relevant outgoings (item 8.1 + item 8.2)

(2,788)

8.4

Cash and cash equivalents at quarter end (item 4.6)

4,128

8.5

Unused finance facilities available at quarter end (item 7.5)

-

8.6

Total available funding (item 8.4 + item 8.5)

4,128

8.7

Estimated quarters of funding available (item 8.6 divided by item 8.3)

1.48

Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as "N/A". Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7.

8.8 If item 8.7 is less than 2 quarters, please provide answers to the following questions:

8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?

Answer:

No. Expenditure for both exploration and technology development was ramped up following the IPO in order to complete drilling programs, test SensOre Group AI-targets and meet the Company's various joint venture and regulatory tenement commitments along with expedite the development of the Company's technology to meet its business objectives. These expenditure levels are not expected to be maintained in the short term.

Further, the Company is expecting a significant research and development tax incentive refund following lodgement of the Company's tax return in August 2022.

8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?

Answer:

No. The Company has not taken, nor does it propose to take, any steps to raise further cash to fund its operations in the short term.

8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?

Answer:

Yes. The current expenditure levels are significantly higher than normal as a result of the expedition of drilling programs, exploration fieldwork and technology development. These expenditure levels are not expected to be maintained and are not a true reflection of the normal expenditure levels of the Company. Following completion of the technology development, and with the acquisition of Intrepid Geophysics, the Company believes it can meet its business objectives and fund its operations without the need for additional funding in the short term.

Further, as stated above, the Company is expecting a significant research and development tax incentive refund following lodgement of the Company's tax return in August 2022.

Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered.

ASX Listing Rules Appendix 5B (17/07/20)

Page 5

+ See chapter 19 of the ASX Listing Rules for defined terms.

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

SensOre Ltd. published this content on 27 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2022 22:27:02 UTC.