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Bathurst Resources Reports Negative Cash Flow of $4.07m for the 31 December 2012 Quarter

31 Jan 2013  |  14:14:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: December Quarterly Activities and Cash Flow Report

Bathurst Resources reported negative cash flow of $4.07m for the quarter ended 31 December 2012. Operating cash flow for the period was $(3.63m). Payments for exploration and evaluation were $(988,000). Investing cash flow was $(245,000). Financing cash flow was $(187,000). Cash in hand at the end of the quarter was $35.53m. Total coal sales of 78,031t were recorded in the quarter - 19,774t from the Cascade mine and 58,257t from the Takitimu thermal operation in Nightcaps. Also during the quarter, the Environment Court hearing on the substantive appeal against the Escarpment Mine Consents was held in Christchurch. The hearing concluded on 18 December 2012 and a decision is pending. At the same time, the appeal on the basis of Climate Change was escalated to the Supreme Court and a hearing date set down for 12 and 13 March 2013.

Consolidated Statement of Cash Flow for the Quarter ended 31 December 2012

Current Quarter $A'000- 31 December 2012 Year to Date $A'000
Net Operating Cash Flows (3,634) (13,544)
Net Investing Cash Flows (245) (8,196)
Total Operating and Investing Cash Flows (3,879) (21,740)
Net Financing Cash Flows (187) 3,256
Net Increase (Decrease) in Cash Held (4,066) (18,484)
Cash at Beginning of Quarter/Year to Date 39,700 53,823
Cash at End of Quarter 35,534 35,534
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