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ACCENT RESOURCES NL Interim / Quarterly Report 2026
64294_rns_2026-04-29_1d338c2a-795f-44f1-b335-c75de09d847f.pdf
Interim / Quarterly Report
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ACCENT RESOURCES N.L. ACN: 113 025 808
ASX : ACS
REGISTERED OFFICE
Level 9, 250 Queen Street
Melbourne, VIC 3000
EXPLORATION OFFICE
Level 2, 72 Kings Park Road
West Perth, WA 6005
Telephone: +61 8 9481 3006
www.accentresources.com.au
Quarterly Activities Report For The Period Ending 31 March 2026
ACCENT RESOURCES N.L. ACN: 113 025 808
ASX : ACS
REGISTERED OFFICE
Level 9, 250 Queen Street
Melbourne, VIC 3000
EXPLORATION OFFICE
Level 2, 72 Kings Park Road
West Perth, WA 6005
Telephone: +61 8 9481 3006
www.accentresources.com.au
Corporate
| Position | Holder Name | Holding | % IC |
|---|---|---|---|
| 1 | RICH MARK DEVELOPMENT GROUP PTY LTD | 313,245,416 | 63.99% |
| 2 | XINGANG RESOURCES (HK) LIMITED | 98,026,518 | 20.02% |
| 3 | GRANDMASTER FORTUNE LIMITED | 21,563,603 | 4.40% |
| 4 | BRILLIANT SERVICES PTY LTD | 10,800,000 | 2.21% |
| 5 | MR BIN CUI | 10,448,980 | 2.13% |
| 6 | SINO ORIENTAL INTERNATIONAL LIMITED | 10,000,000 | 2.04% |
| 7 | JUN SHENG LIANG | 6,580,000 | 1.34% |
| 8 | DIANZHOU HE | 3,000,000 | 0.61% |
| 9 | MRS LI LI ZHAO | 2,102,500 | 0.43% |
| 10 | JIE YOU | 1,200,000 | 0.25% |
| 11 | WILLIMS SUPERANNUATION PTY LTD | 852,500 | 0.17% |
| 12 | TOLSUTRA PTY LTD | 750,000 | 0.15% |
| 13 | MR DONG LIANG | 624,502 | 0.13% |
| 14 | BROWNWARD PTY LTD | 500,000 | 0.10% |
| 15 | MR TONY JAMES PEARS & | 463,500 | 0.09% |
| MRS LYNDA PAMELA PEARS | |||
| 16 | MR DAVID ARITI | 431,090 | 0.09% |
| 17 | TRACEY LEE GEORGE MORTON | 430,000 | 0.09% |
| 17 | STUART DYMOCK | 430,000 | 0.09% |
| 18 | DESKGLEN PTY LTD | 400,000 | 0.08% |
| 18 | MR ROBERT CHARLES ALLEN & | 400,000 | 0.08% |
| MRS JENNIFER ALICE ALLEN | |||
| 19 | CITICORP NOMINEES PTY LIMITED | 336,976 | 0.07% |
| 20 | MISS XIA LI | 320,156 | 0.07% |
| Total | 482,905,741 | 98.65% | |
| Total issued capital – ordinary shares | 489,537,283 | 100.00% | |
| Capital Structure | |||
| --- | --- | ||
| Ordinary Fully Paid Shares at 31 March 2026 | 489,537,283 | ||
| 12-month high-low | $0.006 - $0.075 | ||
| Directors & Management | |||
| Yuzi (Albert) Zhou | Executive Director | ||
| Dian Zhou He | Deputy Chairman | ||
| Jun Sheng Liang | Non-Executive Director | ||
| Jie You | Non-Executive Director | ||
| Dr David Xiaoxuan Sun | Executive Director |
ACCENT RESOURCES N.L. ACN:113 025 808
ASX : ACS
REGISTERED OFFICE
Level 9, 250 Queen Street
Melbourne, VIC 3000
EXPLORATION OFFICE
Level 2, 72 Kings Park Road
West Perth, WA 6005
Telephone: +61 8 9481 3006
www.accentresources.com.au
In conjunction with majority shareholder Rich Mark Development Group and Xingang Resources (HK) Limited the Company continues to assess investment opportunities and projects for acquisition or development.
Quarter Activities
Highlights for the quarter ending 31 March 2026
- Pre-Feasibility Study ongoing for the Magnetite Range Project. (refer to ASX release 21 May 2025).
- Completed a 63 hole/5117.5 meters regional hydrogeological drilling program.
- Advanced an exploration target review and ranking exercise over the Magnetite Range project.
Accent Resources NL (ASX: ACS) has two projects in Western Australia, the Magnetite Range Project (Iron Ore) located in the Midwest region and the Norseman Gold project located in the Eastern Goldfields (Figure 1).
Accent is pleased to provide the following report on its activities for the quarter ending $31^{\mathrm{st}}$ March 2026.
Figure 1: Accent Resources Project Location Plan
A C C E N T
RESOURCES N.L.
ACN:113025808
ASX:ACS
REGISTERED OFFICE
Level 9, 250 Queen Street
Melbourne, VIC 3000
EXPLORATION OFFICE
Level 2, 72 Kings Park Road
West Perth, WA 6005
Telephone: +61 8 9481 3006
www.accentresources.com.au
Magnetite Range Iron Ore Project (ACS 100%)
The Company's wholly owned Magnetite Range Project is located 350 km north of Perth and 250 km east of Geraldton in the Mid-West region of Western Australia. The tenements comprising the project straddle the boundary between Perenjori and Yalgoo shires (Figure 2 and Table 1).
The project contains a magnetite Mineral Resource of 523.3Mt grading 31.3% Fe (JORC2012) (Table 2).
Figure 2: Accent Resources Magnetite Range Tenement Location Plan.
The Company's previously announced Pre Feasibility Study (PFS) (Refer ASX Announcement Magnetite Range Project "Commencement of Pre-Feasibility Study" – 21 May 2025) for the Magnetite Range Project is ongoing. The PFS has progressed with a regional search for water drill program being completed during the quarter. The program consisted of 63 Air Core drill holes being drilled for a total of 5117.5 metres across several regional pastoral station areas. The drill program was completed with no Health, Safety and Environment (HSE) incidents or near misses reported. Whilst many holes intersected ground water, the available flows and quality of the water remain the subject of technical analysis and will be reported when data is available.
Two engineering site visits were conducted during the quarter with technical professionals from mining, engineering, metallurgy and approvals in attendance to review the site for locations of major infrastructure. Preliminary locations have been shortlisted for the process plant, tailings storage facility, mine waste, access roads and accommodation village. These locations are being reviewed to ensure alignment with future exploration upside and any potential restrictions due to flora, fauna and heritage.
A C C E N T
RESOURCES N.L.
ACN: 113 025 808
ASX: ACS
REGISTERED OFFICE
Level 9, 250 Queen Street
Melbourne, VIC 3000
EXPLORATION OFFICE
Level 2, 72 Kings Park Road
West Perth, WA 6005
Telephone: +61 8 9481 3006
www.accentresources.com.au
[email protected]
Other ongoing PFS activities include mine design and scheduling works with the mine production schedule being advanced to the PFS base case, engineering process design is also progressing to the PFS base case process flowsheet.
A review of exploration targets identified from an interpretation of airborne magnetic survey imagery was commenced during the reporting period. The review incorporated historical geological mapping data, surface geochemical sampling results and historical exploration drillhole data. Once finalized, the exploration targets will be ranked and follow up exploration programs designed.
ACCENT RESOURCES N.L. ACN:113 025 808
ASX:ACS
REGISTERED OFFICE
Level 9, 250 Queen Street
Melbourne, VIC 3000
EXPLORATION OFFICE
Level 2, 72 Kings Park Road
West Perth, WA 6005
Telephone: +61 8 9481 3006
www.accentresources.com.au
Norseman Gold Project (ACS 100%)
The Norseman Gold Project occurs within a strongly mineralized portion of the southern Norseman-Wiluna greenstone belt and is located 5km south of the Norseman town site.
Prospecting licence P63/2270 was acquired by Accent during the reporting period (Table 1).
A mining lease application has been submitted to consolidate one mining lease (M63/657) and 4 prospecting licenses (P63/1997; P63/2200; P63/2154 and P63/2052) together into one mining lease application. The mining lease application 'M63/682' was submitted on 1 July 2024 and is currently pending grant.
A Norseman project tenement location plan is included as Figure 3.
A JORC 2004 Code Mineral Resource for Iron Duke and Surprise deposits of 1,039,400 tonnes @ 1.8 g/t Au for 59,500 ounces (99 percentile upper cut, 1.0 g/t Au lower cut off) was announced to the ASX on 26 November 2012 (Table 3). Over 70-80% of the resource is shallow, within 50m of surface.
The Company continues to concentrate on the identification of investment opportunities in the resources sector and are successfully targeting tenure and projects which are aligned with corporate strategy.
Figure 3: Accent Resources Norseman Tenement Location Plan
ACCENT RESOURCES N.L. ACN:113 025 808
ASX:ACS
REGISTERED OFFICE
Level 9, 250 Queen Street
Melbourne, VIC 3000
EXPLORATION OFFICE
Level 2, 72 Kings Park Road
West Perth, WA 6005
Telephone: +61 8 9481 3006
www.accentresources.com.au
Table 1: Accent Resources Tenement Summary for Quarter ending 31st March 2026
| Tenement ID | Project Location | Interests at beginning of Quarter | Date acquired | Interests at end of Quarter |
|---|---|---|---|---|
| M 59/166-I | Mt Gibson | 100% | 5/10/89 | 100% |
| E 59/875-I | Mt Gibson | 100% | 22/03/06 | 100% |
| L 59/106 | Mt Gibson | 100% | 1/08/12 | 100% |
| E 59/2043 | Mt Gibson | 100% | 18/06/15 | 100% |
| E 59/2303 | Mt Gibson | 100% | 31/08/18 | 100% |
| M 59/764 | Mt Gibson | 100% | 11/08/21 | 100% |
| L 59/196 | Mt Gibson | 100% | 15/11/21 | 100% |
| E 59/2666 | Mt Gibson | 100% | 1/07/22 | 100% |
| E 59/2686 | Mt Gibson | 100% | 2/09/22 | 100% |
| E 59/2423 | Mt Gibson | 100% | 13/09/22 | 100% |
| L 59/197 | Mt Gibson | 100% | 30/09/22 | 100% |
| L 59/210 | Mt Gibson | 100% | 4/10/22 | 100% |
| E 59/2719 | Mt Gibson | 100% | 24/10/22 | 100% |
| E 59/2878 | Mt Gibson | 100% | 14/03/24 | 100% |
| E 59/2879 | Mt Gibson | 100% | 20/03/24 | 100% |
| P 59/2401 | Mt Gibson | 100% | 11/06/24 | 100% |
| E 59/2944 | Mt Gibson | 100% | 17/01/25 | 100% |
| E 59/2945 | Mt Gibson | 100% | 23/01/25 | 100% |
| E 59/2946 | Mt Gibson | 100% | 23/01/25 | 100% |
| L 59/220 | Mt Gibson | 100% | 11/02/25 | 100% |
| E 59/2954 | Mt Gibson | 100% | 5/03/25 | 100% |
| E 59/2962 | Mt Gibson | 100% | 20/03/25 | 100% |
| L 59/221 | Mt Gibson | 100% | 6/05/25 | 100% |
| L 59/222 | Mt Gibson | 100% | 6/05/25 | 100% |
| E 59/2963 | Mt Gibson | 100% | 24/05/25 | 100% |
| E 59/2947 | Mt Gibson | 100% | Application | Application |
| M 63/229 | Norseman | 100% | 19/11/1990 | 100% |
| P 63/1997 | Norseman | 100% | 4/7/2016 | 100% |
| P 63/2052 | Norseman | 100% | 26/10/2017 | 100% |
| P 63/2154 | Norseman | 100% | 2/9/2019 | 100% |
| P 63/2200 | Norseman | 100% | 29/10/2020 | 100% |
| P 63/2270 | Norseman | 100% | 3/6/2025 | 100% |
| M 63/657 | Norseman | 100% | 15/12/2020 | 100% |
| M 63/682 | Norseman | 100% | Application | Application |
| P 63/2191 | Norseman | 100% | Application | Application |
| P 63/2281 | Norseman | 100% | Application | Application |
ACCENT RESOURCES N.L. ACN:113 025 808
ASX:ACS
REGISTERED OFFICE
Level 9, 250 Queen Street
Melbourne, VIC 3000
EXPLORATION OFFICE
Level 2, 72 Kings Park Road
West Perth, WA 6005
Telephone: +61 8 9481 3006
www.accentresources.com.au
Mineral Resources for the Quarter ending 31st March 2026
All of the company's Mineral Resources and Ore Reserves are located within Western Australia.
IRON (MAGNETITE) RESOURCES
There was no change to the company's iron (magnetite) resources during the March Quarter 2026.
Table 2: Magnetite Range Mineral Resource Summary.
| Category | Tonnes (Mt) | DTR Recovery % | Head Assays | DTR (concentrate grade) | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fe% | SiO₂% | Al₂O₃% | S% | Fe_C% | SiO₂_C% | Al₂O₃_C% | S_C% | P_C% | FeO_C% | LOI_C% | |||
| Measured | 21.9 | 35.0 | 32.5 | 46.5 | 1.0 | 0.2 | 70.6 | 1.7 | 0.1 | 0.2 | 0.00 | 31.5 | -3.2 |
| Indicated | 84.4 | 32.5 | 31.6 | 47.0 | 1.7 | 0.4 | 70.4 | 1.7 | 0.1 | 0.6 | 0.01 | 31.1 | -2.9 |
| Measured + Indicated | 106.3 | 33.0 | 31.8 | 46.9 | 1.5 | 0.4 | 70.4 | 1.7 | 0.1 | 0.5 | 0.00 | 31.2 | -3.0 |
| Inferred | 417.0 | 31.8 | 31.2 | 46.9 | 2.0 | 0.4 | 67.7 | 5.0 | 0.2 | 0.6 | 0.01 | 26.8 | -2.6 |
| Total | 523.3 | 32.0 | 31.3 | 46.9 | 1.9 | 0.4 | 68.2 | 4.3 | 0.2 | 0.6 | 0.01 | 27.7 | -2.7 |
Notes:
- Mineral Resources are reported in accordance with the JORC Code (2012 edition).
- Mineral Resources are reported within an optimised open pit shell and above a 15% DTR mass recovery cut-off.
- Mineral Resources exclude oxide domain material.
- Approximately 97% of the Mineral Resources are reported below the water table.
- Tonnage information has been rounded and as a result the figures may not add up to the totals quoted.
ACCENT RESOURCES N.L. ACN:113 025 808
ASX:ACS
REGISTERED OFFICE
Level 9, 250 Queen Street
Melbourne, VIC 3000
EXPLORATION OFFICE
Level 2, 72 Kings Park Road
West Perth, WA 6005
Telephone: +61 8 9481 3006
www.accentresources.com.au
GOLD RESOURCES
There was no change to the company's gold resources during the March Quarter 2026.
Table 3: Norseman Mineral Resource Summary
| Deposit | Cut-Off(g/t Au) | Measured | Indicated | Inferred | Total | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tonnes | Grade (g/t) | Ounces Au | Tonnes | Grade (g/t) | Ounces Au | Tonnes | Grade (g/t) | Ounces Au | Tonnes | Grade (g/t) | Total (Oz) | ||
| Iron Duke | 0.5 | 450,900 | 1.8 | 25,300 | 272,500 | 1.6 | 14,400 | 126,500 | 1.6 | 6,400 | 850,000 | 1.7 | 45,700 |
| Surprise | 299,200 | 1.4 | 13,300 | 137,600 | 1.3 | 5,900 | 94,300 | 1.2 | 3,600 | 531,100 | 1.3 | 22,800 | |
| Total | 750,100 | 1.6 | 38,600 | 410,100 | 1.5 | 19,900 | 220,800 | 1.4 | 10,000 | 1,381,000 | 1.5 | 68,500 | |
| Iron Duke | 1.0 | 328,300 | 2.1 | 22,200 | 213,700 | 1.8 | 12,500 | 111,100 | 1.7 | 6,000 | 653,200 | 1.9 | 40,700 |
| Surprise | 210,800 | 1.6 | 10,900 | 111,900 | 1.4 | 5,200 | 63,500 | 1.4 | 2,800 | 386,200 | 1.5 | 18,800 | |
| Total | 539,100 | 1.9 | 33,100 | 325,600 | 1.7 | 17,700 | 174,600 | 1.6 | 8,800 | 1,039,400 | 1.8 | 59,500 |
Notes:
- Mineral Resources are reported in accordance with the JORC Code (2004 edition).
- No mining dilution or metallurgical factors applied.
- Resource classification has been considered with respect to various reporting modifying factors as outlined in JORC 2004.
- Tonnage information has been rounded and as a result the figures may not add up to the totals quoted.
ACCENT RESOURCES N.L.
ACN: 113 025 808
ASX: ACS
REGISTERED OFFICE
Level 9, 250 Queen Street
Melbourne, VIC 3000
EXPLORATION OFFICE
Level 2, 72 Kings Park Road
West Perth, WA 6005
Telephone: +61 8 9481 3006
www.accentresources.com.au
[email protected]
FINANCIAL
As at 31 March 2026, the Company held cash and cash equivalents of $9,495k.
Exploration expenditure cash outflow for the quarter was $1,071k.
Payments to related parties of the Company and their associates totaled $123k.
COMPETENT PERSONS STATEMENTS
For the Quarter year Ending 31 March 2026
Competent Persons Statement – Exploration Results
The information in this report that relates to Exploration Results is based on information reviewed by Mr Chris Williams who is a Member of Australasian Institute of Mining and Metallurgy. Mr Williams is a consultant to Accent Resources and a full-time employee of ERM Australia Consultants Pty Ltd.
Mr Williams has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration, and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Williams consents to the inclusion in the announcement of the matters based on this information and in the form and context in which it appears.
Competent Persons Statement – Magnetite Range Project Mineral Resources
The information in this report that relates to Mineral Resources at the Magnetite Range Project is based on, and fairly reflects, information compiled by Mr Matt Clark, a Competent Person, who is a former employee of CSA Global (ERM Australia Consultants Pty Ltd) and a Member of the Australasian Institute of Mining and Metallurgy. Mr. Clark has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as Competent Person as defined in the 2012 edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources, and Ore Reserves (JORC Code). Mr. Clark consents to the disclosure of information in this report in the form and context in which it appears.
Competent Persons Statement – Norseman Project Mineral Resources
The information in this report that relates to Mineral Resources at the Norseman Gold Project is based on a resource estimate that was prepared by Mr Stephen Hyland, who is a former employee of Ravensgate Mining Industry Consultants. Mr Hyland is a Fellow of the Australian Institute of Mining and Metallurgy. Mr Hyland has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Hyland consents to the inclusion in this report of the matters based on his information (and the public reporting of these statements) in the form and context that the information appears.
ACCENT RESOURCES N.L. ACN:113 025 808
ASX : ACS
REGISTERED OFFICE
Level 9, 250 Queen Street
Melbourne, VIC 3000
EXPLORATION OFFICE
Level 2, 72 Kings Park Road
West Perth, WA 6005
Telephone: +61 8 9481 3006
www.accentresources.com.au
COMPETENT PERSONS STATEMENTS
For the Quarter year Ending 31 December 2025
Competent Persons Statement – Magnetite Range Project
The information in this report that relates to Mineral Resources at the Magnetite Range Project is based on, and fairly reflects, information compiled by Mr Matt Clark, a Competent Person, who is a former employee of CSA Global (ERM Australia Consultants Pty Ltd) and a Member of the Australasian Institute of Mining and Metallurgy. Mr. Clark has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as Competent Person as defined in the 2012 edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources, and Ore Reserves (JORC Code). Mr. Clark consents to the disclosure of information in this report in the form and context in which it appears.
Competent Persons Statement – Norseman Project
The information that relates to Mineral Resources at the Norseman Gold Project is based on a resource estimate that was prepared by Mr Stephen Hyland, who is a former employee of Ravensgate Mining Industry Consultants. Mr Hyland is a Fellow of the Australian Institute of Mining and Metallurgy. Mr Hyland has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Hyland consents to the inclusion in this report of the matters based on his information (and the public reporting of these statements) in the form and context that the information appears.
Competent Persons Statement – Annual Mineral Reserves and Resources Statement
The Mineral Resources and Ore Reserves statement in this Quarterly Report is based on, and fairly represents, information and supporting documentation prepared by a competent person or persons. The Mineral Resources and Ore Reserves statement as a whole has been approved by Ms G Morton, who is a full-time employee of the Company and a Member of the Australian Institute of Geoscientists. Ms Morton consents to the inclusion of the Mineral Resources and Ore Reserves statement in the form and context in which it appears in this Quarterly Report.
Authorised for release by the Board of Directors
For further details contact:
Yuzi (Albert) Zhou - Executive Director
Rule 5.5
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
Name of entity
Accent Resources NL
ABN
67 113 025 808
Quarter ended ("current quarter")
31 March 2026
| Consolidated statement of cash flows | Current quarter $A'000 | Year to date (9 months) $A'000 | |
|---|---|---|---|
| 1. | Cash flows from operating activities | ||
| 1.1 | Receipts from customers | - | - |
| 1.2 | Payments for | ||
| (a) exploration & evaluation | - | - | |
| (b) development | - | - | |
| (c) production | - | - | |
| (d) staff costs | (212) | (570) | |
| (e) administration and corporate costs | (62) | (321) | |
| 1.3 | Dividends received (see note 3) | - | - |
| 1.4 | Interest received | 97 | 316 |
| 1.5 | Interest and other costs of finance paid | - | - |
| 1.6 | Income taxes paid | - | - |
| 1.7 | Government grants and tax incentives | - | - |
| 1.8 | Other (GST Received) | 52 | 211 |
| 1.9 | Net cash from / (used in) operating activities | (125) | (364) |
| 2. Cash flows from investing activities | |||
| --- | --- | ||
| 2.1 Payments to acquire or for: | |||
| (a) entities | - | ||
| (b) tenements | - | ||
| (c) property, plant and equipment | (28) | ||
| (d) exploration & evaluation | (1,071) | ||
| (e) investments | - | ||
| (f) other non-current assets | - |
ASX Listing Rules Appendix 5B (17/07/20)
- 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
| Consolidated statement of cash flows | Current quarter $A'000 | Year to date (9 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 | (1,099) | (2,935) |
| 3. | Cash flows from financing activities | ||
| 3.1 | Proceeds from issues of equity securities (excluding convertible debt securities) | - | - |
| 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 securities or convertible debt securities | - | - |
| 3.5 | Proceeds from borrowings | 1,500 | 1,500 |
| 3.6 | Repayment of borrowings | - | - |
| 3.7 | Transaction costs related to loans and borrowings | - | - |
| 3.8 | Dividends paid | - | - |
| 3.9 | Other (interest on loans) | (527) | (1,745) |
| 3.10 | Net cash from / (used in) financing activities | 973 | (245) |
| 4. | Net increase / (decrease) in cash and cash equivalents for the period | (251) | (3,544) |
| 4.1 | Cash and cash equivalents at beginning of period | 9,746 | 13,039 |
| 4.2 | Net cash from / (used in) operating activities (item 1.9 above) | (125) | (364) |
| 4.3 | Net cash from / (used in) investing activities (item 2.6 above) | (1,099) | (2,935) |
| 4.4 | Net cash from / (used in) financing activities (item 3.10 above) | 973 | (245) |
ASX Listing Rules Appendix 5B (17/07/20)
+ 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
| Consolidated statement of cash flows | Current quarter $A'000 | Year to date (9 months) $A'000 | |
|---|---|---|---|
| 4.5 | Effect of movement in exchange rates on cash held | - | - |
| 4.6 | Cash and cash equivalents at end of period | 9,495 | 9,495 |
| 5. | Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts | Current quarter $A'000 | Previous quarter $A'000 |
| --- | --- | --- | --- |
| 5.1 | Bank balances | 483 | 769 |
| 5.2 | Call deposits | - | - |
| 5.3 | Bank overdrafts | - | - |
| 5.4 | Other (term deposits) | 9,012 | 8,977 |
| 5.5 | Cash and cash equivalents at end of quarter (should equal item 4.6 above) | 9,495 | 9,746 |
| 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 included in item 1 | 123 | |
| 6.2 | Aggregate amount of payments to related parties and their associates included in item 2 | - | |
| $70,958.82 was paid to Yuzi (Albert) Zhou as remuneration for the months January to March 2026. A total of $42,410.31 was paid to non-executive directors as fees for the months January to March 2026. A total of $10,020.39 of superannuation was paid to related parties for the quarter ending March 2026. |
ASX Listing Rules Appendix 5B (17/07/20)
+ 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
| 7. | Financing facilities Note: the term “facility” includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. | Total facility amount at quarter end $A'000 | Amount drawn at quarter end $A'000 |
|---|---|---|---|
| 7.1 | Loan facilities | - | |
| 7.2 | Credit standby arrangements | - | |
| 7.3 | Other (please specify) Shareholder loan | - | - |
| 7.4 | Total financing facilities | 31,125 | 31,125 |
| 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. | ||
| On 26 September 2024, the Company signed an agreement with Rich Mark Development (Group) Pty Ltd for a $11,224,995.80 loan available for drawdown in 4 tranches. The loan is unsecured and subject to interest at 3.5% pa which accrues six monthly and is payable along with the principal at maturity. The loan matures on 31 December 2029. On 26 September 2025, the Company signed an agreement with Xingang Resources (HK) Limited for a $4,853,233.80 loan. The loan is unsecured and subject to interest at 3.5% pa which accrues six monthly and is payable along with the principal at maturity. The loan matures on 31 December 2029. | |||
| 8. | Estimated cash available for future operating activities | $A'000 | |
| --- | --- | --- | |
| 8.1 | Net cash from / (used in) operating activities (item 1.9) | (125) | |
| 8.2 | (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) | (1,071) | |
| 8.3 | Total relevant outgoings (item 8.1 + item 8.2) | (1,196) | |
| 8.4 | Cash and cash equivalents at quarter end (item 4.6) | 9,495 | |
| 8.5 | Unused finance facilities available at quarter end (item 7.5) | ||
| 8.6 | Total available funding (item 8.4 + item 8.5) | 9,495 | |
| 8.7 | Estimated quarters of funding available (item 8.6 divided by item 8.3) | 7.94 | |
| 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: N/A |
ASX Listing Rules Appendix 5B (17/07/20)
- 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
| 8.8.2 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: N/A |
| 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: N/A |
| 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. |
Compliance statement
- This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
- This statement gives a true and fair view of the matters disclosed.
Date: 30 April 2026
Authorised by: Board
(Name of body or officer authorising release – see note 4)
Notes
- This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity's activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.
- If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.
- Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.
- If this report has been authorised for release to the market by your board of directors, you can insert here: "By the board". If it has been authorised for release to the market by a committee of your board of directors, you can insert here: "By the [name of board committee – eg Audit and Risk Committee]". If it has been authorised for release to the market by a disclosure committee, you can insert here: "By the Disclosure Committee".
- If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council's Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.
ASX Listing Rules Appendix 5B (17/07/20)
+ See chapter 19 of the ASX Listing Rules for defined terms.