April 30, 2007
The Appendix 5B Report for this quarter is an integral part of this summary and is attached.
Quarter Ending March 31, 2007 - Summary of Activities and Expenditures
MUSONGATI PROJECT (BURUNDI) – Nickel, Copper, Cobalt, Platinum Group Metals
The Company has responded to two price queries during the quarter and has made a market release on the fact that the political situation has improved in Burundi and that there have been some major investors indicate their interest in the Company and the project.
LAC PANACHE PROJECT (CANADA) – Nickel, Copper, Cobalt, Platinum Group Metals, Canada
A consulting group in Canada is currently compiling an exploration program and is currently analysing the data produced from the IP geophysical survey finalized late in 2006.
FISH CREEK PROJECT (CANADA) – Nickel, Copper, Cobalt, Platinum Group Metals, Canada
No exploration was completed during quarter, however the same consulting group from Canada is reviewing the current data and planning a future program.
INVESTIGATION OF NEW OPPORTUNITIES
Argosy has continued to assess new opportunities in Africa and Canada.
The information in this report that relates to Exploration Results is based on information compiled by a Member of the Australasian Institute of Mining and Metallurgy and a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”.
+ See chapter 19 for defined terms.
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Appendix 5B Page 1
Appendix 5B
Mining exploration entity quarterly report
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 |
Argosy Minerals Inc |
| | |
ABN | | Quarter ended (“current quarter”) |
ARBN 073 391 189 | | 31 March 2007 |
Consolidated statement of cash flows
| | | |
Cash flows related to operating activities | Current quarter Canadian $,000 | Year to date (3 months) $,000 |
1.1 | Receipts from product sales and related debtors | - | - |
1.2 | Payments for (a) exploration and evaluation (b) development (c) production (d) administration | (38)
(179) | (38)
(179) |
1.3 | Dividends received | | |
1.4 | Interest and other items of a similar nature received |
19 |
19 |
1.5 | Interest and other costs of finance paid | | |
1.6 | Income taxes paid | | |
1.7 | Other (provide details if material) | | |
|
Net Operating Cash Flows |
(198) |
(198) |
|
Cash flows related to investing activities | | |
1.8 | Payment for purchases of: (a)prospects (b)equity investments (c) other fixed assets | | |
1.9 | Proceeds from sale of: (a)prospects (b)equity investments (c)other fixed assets |
1 |
1 |
1.10 | Loans to other entities | | |
1.11 | Loans repaid by other entities | | |
1.12 | Other (provide details if material) | | |
|
Net investing cash flows |
- |
- |
1.13 | Total operating and investing cash flows (carried forward) |
(197) |
(197) |
+ See chapter 19 for defined terms.
Appendix 5B Page 2
30/6/2006
| | | |
1.13 | Total operating and investing cash flows (brought forward) |
(197)
|
(197) |
|
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 | Other- share issue expenses | | |
1.19 | Other | | |
| Net financing cash flows | - | - |
|
Net increase (decrease) in cash held |
(197) |
(197) |
1.20 | Cash at beginning of quarter/year to date | 2,356 | 2,356 |
1.21 | Exchange rate adjustments to item 1.20 | 1 | 1 |
1.22 | Cash at end of quarter | 2,160 | 2,160 |
The Year to date in this report is for 3 months and shown in Canadian dollars. The cash at the end of the quarter is equivalent to Australian dollars $2,342
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 |
86 |
1.24 |
Aggregate amount of loans to the parties included in item 1.10 |
- |
1.25 |
Explanation necessary for an understanding of the transactions |
|
Consulting fees, salaries and super. |
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 |
|
Not Applicable |
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 |
|
Not Applicable
|
+ See chapter 19 for defined terms.
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Appendix 5B
Mining exploration entity quarterly report
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 | $320 |
4.2 | Development | - |
|
Total |
$320 |
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 | 149 | 317 |
5.2 | Deposits at call | 2.011 | 2,039 |
5.3 | Bank overdraft | | - |
5.4 | Other | | - |
| Total: cash at end of quarter(item 1.22) | 2,160 | 2,356 |
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 | | Nil | | |
6.2 | Interests in mining tenements acquired or increased
| | Nil | | |
+ See chapter 19 for defined terms.
Appendix 5B Page 4
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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) |
Nil |
Nil | | |
7.2 | Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs, redemptions |
Nil |
Nil | | |
7.3 | +Ordinary securities |
95,969,105 |
95,969,105 | | |
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 | | | | |
7.7 | Options
Unlisted Staff Director’s |
350,000 5,750,000 |
Nil Nil |
Exercise price (Note(1) Aus 10 cent Aus 10 cent |
Expiry
25 May 11 25 May 11 |
7.8 | Issued during quarter | | | | |
7.9 | Exercised during quarter | | | | |
7.10 | Expired during quarter – Staff | 1,000,000 | Nil | 10 cents | 23 May 11 |
7.11 | Debentures (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).
+ See chapter 19 for defined terms.
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Appendix 5B
Mining exploration entity quarterly report
2
This statement does give a true and fair view of the matters disclosed.
![[appendix001.jpg]](https://capedge.com/proxy/6-K/0001137171-07-000725/smartt.jpg)
Sign here:
Date:
27 April 2007
__________________________________
(Company Secretary / Director)
Print name:
Malcolm Smartt
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 1022: Accounting for Extractive Industriesand 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.
== == == == ==
+ See chapter 19 for defined terms.
Appendix 5B Page 6
30/6/2006
