Quarterly Cashflow Report

30.07.2010  |  Globenewswire Europe

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, 01/06/10.

Name of entity
+---------------------+
| EUROPEAN NICKEL PLC |
+---------------------+

Company Registration Number   Quarter ended ("current quarter")
+-----------------------------+ +-----------------------------------+
| 4013168 |   | 30 June 2010 |
+-----------------------------+ +-----------------------------------+

Consolidated statement of cash flows

+---------------+------------+
|Current quarter|Year to date|
Cash flows related to operating activities | |(9 .months) |
| $USD'000 | $USD'000 |
+---------------+------------+
1.1 Receipts from product sales and related | -| -|
debtors | | |
| | |
1.2 Payments for    (a)  exploration & evaluation| -| -|
    (b)  development | -| -|
    (c)  production | -| -|
    (d)  administration | (2,350)| (5,272)|
| | |
1.3 Dividends received | -| -|
| | |
1.4 Interest and other items of a similar nature | 1| 5|
received | | |
| | |
1.5 Interest and other costs of finance paid | (244)| (467)|
| | |
1.6 Income taxes paid | -| -|
| | |
1.7 Other (provide details if material) | -| -|
+---------------+------------+
  | | |
Net Operating Cash Flows | (2,593)| (5,734)|
--------------------------------------------------+---------------+------------+
  |  |  |
Cash flows related to investing activities | | |
| | |
1.8 Payment for purchases of: | | |
    (a)  prospects | -| -|
    (b)  equity investments | -| (1,542)|
    (c)  other fixed assets | (81)| (290)|
| | |
1.9 Proceeds from sale of: | | |
    (a)  prospects | -| -|
    (b)  equity investments | -| 958|
    (c)  other fixed assets | -| -|
| | |
1.10 Loans to other entities | -| -|
| | |
1.11 Loans repaid by other entities | -| -|
| | |
1.12 Other (cash acquired on merger of Rusina | 1,264| 1,264|
Mining NL) | | |
+---------------+------------+
  | | |
Net investing cash flows | 1,183| 390|
+---------------+------------+
1.13 Total operating and investing cash flows | | |
(carried forward) | (1,410)| (5,344)|
--------------------------------------------------+---------------+------------+

---------------------------------------------------------------+-------+-------+
1.13 Total operating and investing cash flows (brought | | |
 forward) |(1,410)|(5,344)|
---------------------------------------------------------------+-------+-------+
  |  |  |
Cash flows related to financing activities | | |
| | |
1.14 Proceeds from issues of shares, options, etc. | 9,420| 17,332|
| | |
1.15 Proceeds from sale of forfeited shares | -| -|
| | |
1.16 Proceeds from borrowings | -| -|
| | |
1.17 Repayment of borrowings | -|(4,000)|
| | |
1.18 Dividends paid | -| -|
| | |
1.19 Other (share issue costs) | (66)| (66)|
+-------+-------+
  Net financing cash flows | 9,354| 13,266|
---------------------------------------------------------------+-------+-------+
  | | |
Net increase (decrease) in cash held | 7,944| 7,922|
| | |
1.20 Cash at beginning of quarter/year to date | 1,209| 1,530|
| | |
1.21 Exchange rate adjustments to item 1.20 | (43)| (342)|
+-------+-------+
1.22 Cash at end of quarter | | |
| 9,110| 9,110|
---------------------------------------------------------------+-------+-------+
+------------------------------------+
  | Current quarter |
| $USD'000 |
+------------------------------------+
| |
1.23 Aggregate amount of payments to the | 1,098 |
parties included in item 1.2 | |
+------------------------------------+
| |
1.24 Aggregate amount of loans to the | - |
parties included in item 1.10 | |
------------------------------------------+------------------------------------+

1.25 Explanation necessary for an understanding of the transactions
+--------------------------------------------------------------------------+
  | |
|1.23 Salaries, fees, superannuation, redundancy and retirement payments |
|made to directors during the quarter. |
+--------------------------------------------------------------------------+

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
+---------------------------------------------------------------------------+
  |N/A |
+---------------------------------------------------------------------------+

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
+---------------------------------------------------------------------------+
  |N/A |
+---------------------------------------------------------------------------+
+------------------+-------------+
    | Amount available | Amount used |
| $USD'000 | $USD'000 |
+------------------+-------------+
3.1 Loan facilities | - | - |
+------------------+-------------+
3.2 Credit standby arrangements | - | - |
-----------------------------------+------------------+-------------+

Estimated cash outflows for next quarter

+----------+
    | $USD'000 |
+----------+
4.1 Exploration and evaluation | - |
+----------+
4.2 Development | 1,800 |
+----------+
4.3 Production | - |
+----------+
4.4 Administration | 4,000 |
(includes merger costs) | |
----------------------------------+----------+
  | |
Total | 5,800 |
----------------------------------+----------+

Reconciliation of cash

+---------------+----------------+
Reconciliation of cash at the end of the |Current quarter|Previous quarter|
quarter (as shown in the consolidated | $USD'000 | $USD'000 |
statement of cash flows) to the related items | | |
in the accounts is as follows. | | |
----------------------------------------------+---------------+----------------+
5.1 Cash on hand and at bank | 8,715 | 1,209 |
+---------------+----------------+
5.2 Deposits at call | 395 | - |
+---------------+----------------+
5.3 Bank overdraft | | |
| - | - |
+---------------+----------------+
5.4 Other (provide details) | - | - |
----------------------------------------------+---------------+----------------+
  Total: cash at end of quarter (item 1.22) | 9,110 | 1,209 |
----------------------------------------------+---------------+----------------+

+--------------+-------------+--------------+------------+
    |Tenement |Nature of |Interest at |Interest at |
|reference |interest |beginning of |end of |
| |(note (2)) |quarter |quarter |
+--------------+-------------+--------------+------------+
6.1 Interests in |  |  |  |  |
mining tenements | | | | |
relinquished, | | | | |
reduced or lapsed | | | | |
+--------------+-------------+--------------+------------+
6.2 Interests in |  |  |  |  |
mining tenements | | | | |
acquired or | | | | |
increased | | | | |
+--------------+-------------+--------------+------------+
+----------------+----------------+-----------+-----------+
  |Total number |Number quoted |Issue price|Amount paid|
| | |per |up per |
| | |security |security |
| | |(see note |(see note |
| | |3) (cents) |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 | AIM 180,154,802| AIM 180,154,802| | |
securities | ASX 41,434,201| ASX 41,434,201| -| -|
| 221,589,003| 221,589,003| | |
+----------------+----------------+-----------+-----------+
7.4 Changes during | | | | |
quarter | 96,057,000| 96,057,000| 7 pence| 7 pence|
(a)  Increases | 60,481,480| 60,481,480| | |
through issues | to RML| to RML| | |
| shareholders| shareholders| | |
(b)  Decreases | on merger| on merger| -| -|
through returns | | | | |
of capital, buy-| | | | |
backs | (483,322,905)| (483,322,905)| | |
| 1 for 4 | 1 for 4 | | |
| consolidation| consolidation| | |
---------------------+----------------+----------------+-----------+-----------+
7.5 +Convertible | | | | |
debt securities | | | | |
(description) | -| -| -| -|
+----------------+----------------+-----------+-----------+
7.6 Changes during | | | | |
quarter | | | | |
(a)  Increases | | | -| -|
through issues | -| -| | |
(b)  Decreases | | | | |
through | | | | |
securities | | | -| -|
matured, | | | | |
converted | -| -| | |
---------------------+----------------+----------------+-----------+-----------+
7.7 Options | | | Exercise|Expiry date|
(description and| | | price| |
conversion | 325,000| -| £1.28| 31/03/14|
factor) | 75,000| -| £1.28| 30/06/14|
| 63,838| -| £0.80| 05/08/14|
| 20,440| -| £0.92| 24/12/14|
| 287,562| -| £1.20| 29/06/15|
| 122,924| -| £1.62| 20/10/15|
| 109,443| -| £1.30| 26/06/16|
| 224,000| -| £2.35| 04/06/17|
| 25,500| -| £2.35| 04/06/17|
| 229,878| -| £2.35| 18/06/17|
| 65,418| -| £1.91| 04/07/17|
| 12,727| -| £1.65| 25/09/17|
| 40,871| -| £1.80| 17/10/17|
| 27,500| -| £2.13| 23/10/17|
| 385,937| -| £1.60| 27/02/18|
| 452,268| -| £1.60| 12/03/18|
| 24,375| -| £1.60| 12/03/18|
| 68,739| -| £1.59| 05/06/18|
| 84,664| -| £1.59| 16/06/18|
| 81,142| -| £0.74| 25/07/18|
| 125,000| -| £0.10| 16/12/18|
| 125,000| -| £0.50| 16/12/18|
| 125,000| -| £0.50| 16/12/08|
| 2,451,051| -| £0.40| 15/04/19|
| | | | |
Warrants | 200,000| -| £0.256| 08/07/12|
| 800,000| -| £0.2768| 21/07/12|
| 625,000| -| £0.36| 08/12/12|
| 1,500,000| -| £0.36| 08/12/12|
| 1,000,000| -| £0.32| 08/12/12|
| 763,000| -| £0.28| 29/03/13|
+----------------+----------------+-----------+-----------+
7.8 Issued during | | | | |
quarter | -| -| -| -|
+----------------+----------------+-----------+-----------+
7.9 Exercised during| | | | |
quarter | -| -| -| -|
+----------------+----------------+-----------+-----------+
7.10 Expired during | | | | |
quarter | -| -| -| -|
---------------------+----------------+----------------+-----------+-----------+
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 July 2010
                               (Finance Director)

Print name:    Mark Hanlon

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
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.


== == == == ==


[HUG#1435063]





ENK Quarterly Cashflow Report: http://hugin.info/138911/R/1435063/380536.pdf



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Source: European Nickel PLC via Thomson Reuters ONE



Unternehmen: European Nickel PLC - ISIN: GB00B3XPFJ68