AI assistant
ALTECH BATTERIES LTD — Interim / Quarterly Report 2015
Oct 29, 2015
64444_rns_2015-10-29_3cf3945e-1dbd-4961-a416-cd2c91802df2.pdf
Interim / Quarterly Report
Open in viewerOpens in your device viewer
Altech Chemicals Limited
QUARTERLY REPORT September 2015
Quarterly Report September 2015
$1.13 million share placement (cont.)
The share placement was made in two tranches, an initial tranche of 8,974,576 shares ($0.530 million) was issued in accordance with the Company's placement capacity under ASX Listing Rules 7.1 and 7.1A; 8,474,576 shares to Melewar and 500,000 shares to the professional investor. A second tranche of 10,169,492 shares ($0.600 million) was issued post quarter end, following shareholder approval at the Company's Annual General Meeting on 15 October 2015.
Commenting on the share placement at the time, executive chairman of Melewar IIC Limited, Royal Highness Prince Ya'acob Bin Tunku Tan Sri Abdullah, said that Altech's HPA project is a very exciting, and that he looked forward to assisting the Company with its development plans: “The potential for Altech to be one of the worlds leading producers of high purity alumina at a low cost, with its plant in Malaysia is what attracted our attention and has culminated in this investment. The rapid growth in demand for sapphire based products from LED lighting manufacturers, and the electronics and smart phone sectors is compelling. Altech management team, led by Mr Iggy Tan with his proven track record of developing these type of projects, was another key consideration.”
Altech managing director, Iggy Tan welcomed Melewar as an Altech shareholder. Mr Tan said that Melewar was a high calibre Malaysian company: “Royal Highness Prince Ya'acob Bin Tunku Tan Sri Abdullah is executive chairman and part owner of the Melewar Industrial Group, a diversified Malaysian industrial firm operating successful iron and steel, energy and engineering businesses in Malaysia. The Prince is a very successful businessman in his own right and is the grandson of the first King of Malaysia. We are pleased to have such a great partner to help develop our project in Malaysia.”
Company's Board expanded to include Prince Ya'acob bin Tunku Tan Sri Abdullah as a nonexecutive director
==> picture [84 x 114] intentionally omitted <==
On 23 October 2015, it was announced that His Royal Highness Price Ya'acob bin Tunku Tan Sri Abdullah had been appointed to the Company's Board as a non-executive director and that the Prince had nominated Mr Uwe Ahrens as his alternate director.
Tunku Dato' Ya'acob bin Tunku Tan Sri Abdullah is the Executive Chairman of the Melewar Khyra Group of Companies (Melewar), a Malaysian base diversified financial and industrial services group. He is the major owner and shareholder of Melewar. Tunku Dato' Ya'acob sits on the Boards of Khyra Legacy Berhad, Mycron Steel Berhad, MAA Group Berhad, Melewar Industrial Group Berhad, Ithmaar Bank B.S.C.(listed on Bahrain Stock Exchange) and several other private companies.
Tunku Dato' Ya'acob graduated with a Bachelor of Science (Hons) Degree in Economics and Accounting from City University, London. An accountant by training, he is a Fellow of the Institute of Chartered Accountants in England and Wales and a member of the Malaysian Institute of Accountants. He started his career as an Auditor with Price Waterhouse, London from 1982 to 1985 and subsequently joined Price Waterhouse Kuala Lumpur from 1986 to 1987. He joined Malaysian Assurance Alliance Berhad in 1987 and retired as its Chief Executive Officer in 1999.
Mr Uwe Ahrens – Alternate Director
==> picture [83 x 115] intentionally omitted <==
Mr Uwe Ahrens is executive director of Melewar Industrial Group Berhad and managing director of Melewar Integrated Engineering Sdn Bhd. He also sits on the Board of several other private limited companies. Mr Ahrens holds Masters in both Mechanical Engineering and Business Administration from the Technical University Darmstadt, Germany. Upon graduation, Mr Ahrens joined the
international engineering and industrial plant supplier, KOCH Transporttechnik GmbH in Germany, now belonging to FLSmidth Group, where he held a senior management position for 12 years, working mainly in Germany, USA and South Africa.
In 1997, he was based in Kuala Lumpur as General Manager of KOCH in South East Asia and became its Managing Director in 1999. He joined Melewar Group in 2002 and is also currently chief technical officer of the Melewar group of companies.
Altech Chairman, Mr Luke Atkins welcomed the appointment of Tunku Dato' Ya'acob and his alternate Mr Uwe Ahrens to the Altech Chemicals Limited Board. “These gentlemen are successful businessman in their own right and their experience and knowledge in building businesses in Malaysia is a very important to the Company's plans to construct and operate its HPA plant in Johor, Malaysia. We look forward to their involvement and guidance through Altech's exciting growth phase”.
==> picture [596 x 71] intentionally omitted <==
----- Start of picture text -----
Page 2
----- End of picture text -----
Quarterly Report September 2015
Agreement signed with Mitsubishi Australia Ltd for High Purity Alumina sales into the Japanese market
On 24 September 2015, Altech announced that it had executed a sales and distribution agreement (Agreement) with Mitsubishi Corporation's Australian subsidiary, Mitsubishi Australia Ltd (Mitsubishi) for its proposed high purity alumina (HPA) product.
The Agreement appointed Mitsubishi as the exclusive seller and distributor of Altech's final HPA product to the Japanese market. Mitsubishi is Japan's largest general trading company with more than 200 bases of operations in approximately 90 countries worldwide. Mitsubishi employs a multinational workforce of approximately 70,000 people across some 600 companies. Mitsubishi has been engaged in long-term business with customers from around the world in virtually every industry, including energy, metals, machinery, chemicals, food and general merchandise.
In 2014, consumption of HPA in Japan was an estimated to represent 21% of estimated total global HPA demand for the year. The Japanese market will be important for Altech and the agreement reached with Mitsubishi provides the Company with the required marketing and distribution experience for its HPA in this market.
==> picture [94 x 177] intentionally omitted <==
Altech's managing director, Mr Iggy Tan said at the time that, “the Agreement with Mitsubishi marks another important milestone for the Company's HPA project”. Mr Tan went on to say, “Altech are delighted to partner with one of Japan's largest companies and a very reputable name worldwide”. “Altech's 4,000tpa HPA plant will position the Company not only as one of the world's largest producers of HPA, but also as one of the world's lowest cost producers of HPA”, Mr Tan concluded.
==> picture [256 x 228] intentionally omitted <==
Altech's reserved site for its HPA plant, Tanjung Langsat, Malaysia
==> picture [596 x 71] intentionally omitted <==
----- Start of picture text -----
Page 3
----- End of picture text -----
Quarterly Report September 2015
Land for the Company's proposed High Purity Alumina plant secured in the Tanjung Langsat Industrial Complex, Johor, Malaysia
During the quarter, the Company announced that it has now secured land in the Tanjung Langsat Industrial Complex, Johor, Malaysia for its proposed high purity alumina (HPA) plant.
The Company has reserved a ~4 hectare site in a section of the industrial complex that is set aside for chemical facilities. The site is initially reserved until 30 December 2015 and upon execution of an option to lease, will be leased for a period of thirty years, with an option to renew. The land reservation and option to lease has been secured with a non-refundable deposit of MYR300,000, that is credited against the 30-year lease payment on exercise of the option.
As previously announced, the Company selected Tanjung Langsat as the location for its proposed HPA plant based on significant economic and developmental benefits, including the ready availability of required consumables such as hydrochloric acid, limestone, quicklime, power and natural gas – all at highly competitive prices. The availability of skilled labour, proximity to an international container sea-port and international airports (Johor Bahru and Singapore) and the various investment incentives on offer were additional benefits.
Feedstock for the HPA plant will be sourced from the Company's 100% owned aluminous clay (kaolin) deposit at Meckering, Western Australian. Approximately 18,565tpa of beneficiated kaolin will be containerised (using 2 tonne “bulka bags”) and transported via road to the port of Fremantle, Western Australia (a distance of ~153kms). The containers will be shipped from Fremantle to the port of Tanjung Pelepas (a container port located in south-western Johor, Malaysia ~90kms by road from Tanjung Langsat) and then transported via road from Tanjung Pelepas to Tanjung Langsat.
Operating costs in Malaysia for the HPA plant are estimated to be in the region of 40% lower compared to an equivalent plant operated in Western Australia. In addition, the shipping of the Company's final HPA product from the Tanjung Langsat international sea container port to nearby Asian markets will provide both cost and delivery time advantages. Overall, Altech expects its proposed HPA plant to be in the bottom quartile of the operating cost curve for the world's HPA producers. Altech's HPA project has the potential to enhance the Malaysian region's HPA value-add chain, as sapphire glass producers such as Rubicon Technology currently operate a facility in Malaysia.
Tanjung Langsat Industrial Complex, Johor, Malaysia
==> picture [538 x 253] intentionally omitted <==
----- Start of picture text -----
Lot PLO 127
----- End of picture text -----
==> picture [596 x 71] intentionally omitted <==
----- Start of picture text -----
Page 4
----- End of picture text -----
Quarterly Report September 2015
The ML grant is currently before the mining warden, with both the Company and the freehold landowner having lodged their respective submissions in relation to the application. At the same time, the Company is discussing an access compensation arrangement with the freehold landowner for the project pursuant to the Compensation Agreement announced to the Australian Securities Exchange on 14 February 2011.
Permitting for Meckering kaolin mining operations commenced
A project application for the Company's proposed aluminous clay (kaolin) mining operations was lodged with the Western Australian Department of Environment Regulation (DER) during the quarter, as part of the permitting requirements for the project.
The Company anticipates that both the DER and DMP approval processes will be relatively straightforward. There are no other permitting requirements for the Project.
The DER has confirmed its acceptance of Altech's project application and confirmed that the next and final permitting requirement for the Meckering beneficiation plant as a Works Approval application, which will also be assessed by the DER. Once the Works Approval is granted, construction of the beneficiation plant can commence. Also, under DER regulations, based on the beneficiation plants processing rate of less than 50,000 tonnes per annum (tpa), the plant may only require registration post construction rather than an application for an Operating Licence.
Summary of the Permitting Processes
==> picture [272 x 87] intentionally omitted <==
Mining approvals are regulated by the Western Australian Department of Mines and Petroleum (DMP) and the Company has already submitted a mining lease application, the first step in the DMP approvals process. Following grant of the mining lease, the Company will submit a Mining Proposal (MP) and a Mine Closure Plan (MCP) and upon approval of these items (and subject to funding), mining operations at Meckering will commence with overburden removal for the establishment of an open pit mine.
Proposed Meckering plant, North Elevation
==> picture [572 x 164] intentionally omitted <==
----- Start of picture text -----
open pit mine.
----- End of picture text -----
==> picture [568 x 117] intentionally omitted <==
==> picture [596 x 71] intentionally omitted <==
----- Start of picture text -----
Page 5
----- End of picture text -----
Quarterly Report September 2015
Experience chemicals industry operations executive Dr Jingyuan Liu appointed as General Manager Operations
On 14 September 2015, Altech was pleased to announce the appointment of Dr Jingyuan Liu as General Manager Operations for its high purity alumina (HPA) project. This key executive appointment marked an important step for the Company as it progresses its HPA project to the next phase – detailed plant design and subject to funding, preparations for construction.
Initially based in Perth, Western Australia it is envisaged that Dr Liu will spend significant time at the Company's Malaysian HPA plant site during construction, commissioning and the transition to steady state operations.
Dr. Liu has over 20 years experience in project management, process and equipment design for minerals processing and in the chemicals, non-ferrous metals, iron & steel and energy industries, both in Australian and internationally. He was awarded a PhD in chemical engineering from the University of Newcastle, Australia. He has worked in senior chemical engineering roles with leading companies such as Hatch Engineering and Metso Minerals in Australia and Malaysia. Dr Liu was previously General Manager – Development and Technologies with Galaxy Resources Limited, a high purity lithium carbonate producer. Dr Liu's extensive chemicals and processing experience, including plant construction, commissioning and the manufacture of high purity chemicals will be invaluable for Altech's next phase of development.
Altech managing director, Mr Iggy Tan said “Dr Liu is a noteworthy addition to the Company's executive team that will be responsible for implementing the next stage of Altech's development and commercialising of its Meckering kaolin deposit via the construction and operation of a HPA plant in Malaysia. Altech continues to build a strong and experienced management team in preparation for its emergence as a significant producer of high purity alumina” he said.
==> picture [256 x 171] intentionally omitted <==
==> picture [256 x 172] intentionally omitted <==
Annual General Meeting completed with all resolutions carried
The Company held its 2015 Annual General Meeting of shareholders in its Perth office on Thursday 15 October 2015. The meeting was well attended and all 9 resolutions put to shareholders were carried on a show of hands, with proxy votes received also overwhelming in favour of each of the resolutions.
Exploration
EL70/4718 (application) (Kerrigan): A review of historical exploration data (kaolin mineralisation) during quarter was undertaken following the re-pegging of this tenement in May 2015. The Company anticipates the grant of the exploration lease in November 2015 and is assessing appropriate near term reconnaissance and test work to undertake, following grant.
==> picture [596 x 71] intentionally omitted <==
----- Start of picture text -----
Page 6
----- End of picture text -----
Quarterly Report September 2015
==> picture [256 x 326] intentionally omitted <==
==> picture [94 x 177] intentionally omitted <==
Corporate
On 30 September 2015 the Company had approximately $0.351 million cash on hand. Post quarter end, $0.500 million was received by the Company in mid October 2015 from tranche 2 of the Melewar share placement, in addition $0.849 million is receivable as at 30 October 2015 pertaining to the 2014/15 research and development taxation rebate, which the Company anticipates receiving in early November 2015 and $0.100 million for a share placement to Company director Mr Dan Teneradi, as approved by shareholders on 15 October 2015. The Company's cash balance following receipt of the research and development rebate will be approximately $1.6 million.
As at the date of this report the Company had 148,462,285 fully paid ordinary shares on issue. During the quarter, 28,750 ASX quoted options (Ex. $0.10, Exp. 15-12-2015) were exercised and at the date of this report 3,998,985 ASX quoted options remain on issue, 6,100,000 unlisted options are on issue and 20,950,000 Performance Rights remain outstanding.
Schedule of Tenements
As per ASX Listing Rule 5.3.3, Altech Chemicals Limited held the following tenements (exploration and mining leases) as at 30 September 2015:
| Tenement ID |
Resgistered Holder | Location | Project | Grant Date | Interest start ofquarter |
Interest end ofquarter |
|---|---|---|---|---|---|---|
| E70/3923 | Altech Meckering Pty Ltd | WA Australia | Meckering | 30/11/10 | 100% | 100% |
| EMP183575 | Altech Chemicals Ltd | Qld Australia | Constance Range | 27/04/12 | 100% | 100% |
| E70/4341 | Australian Mineral Sands | WA Australia | Beenup | 16/01/13 | 100% | 100% |
| E70/4643 | Australian Mineral Sands | WA Australia | SW Titanium | 25/03/15 | 100% | 100% |
| E70/4713 | Altech Chemicals Ltd | WA Australia | Southdown | 9/06/15 | 100% | 100% |
| E70/4706 | Yilgarn Iron Pty Ltd | WA Australia | Green Range | Application | 100% | 100% |
| E70/4707 | Canning Coal Pty Ltd | WA Australia | Green Range | Application | 100% | 100% |
| E70/4708 E70/4716 E70/4717 |
Canning Coal Pty Ltd Altech Meckering Pty Ltd Altech Meckering Pty Ltd |
WA Australia WA Australia WA Australia |
Meckering Meckering Meckering |
Application Application Application |
100% 100% 100% |
100% 100% 100% |
| M70/1334 | Altech Meckering Pty Ltd | WA Australia | Meckering | Application | 100% | 100% |
| E70/4737 | Yilgarn Iron Pty Ltd | WA Australia | Kerrigan | Application | 100% | 100% |
| E70/4718 | CanningCoal PtyLtd | WA Australia | Kerrigan | Application | 100% | 100% |
==> picture [596 x 71] intentionally omitted <==
----- Start of picture text -----
Page 7
----- End of picture text -----
==> picture [97 x 98] intentionally omitted <==
Altech Chemicals
Limited
Company Snapshot
Altech Chemicals Limited (ASX:ATC) ABN 45 125 301 206
| FINANCIAL INFORMATION | |
|---|---|
| (as at 30 September 2015) | |
| Share Price: | $0.12 |
| Shares: | 133m |
| Listed Options: | 4.0m |
| Unlisted Options: | 6.1m |
| Performance Rights*: | 21m |
| Market Cap: | $16m |
| Cash: | $0.4m |
DIRECTORS: LUKE ATKINS LLB Chairman IGGY TAN B.Sc MBA GAICD Managing Director PETER BAILEY B.Sc(Hons) Elect.Eng MIEE C.Eng Non-executive Director DAN TENARDI Non-executive Director PRINCE YA'ACOB BIN TUNKU TAN SRI ABDULLAH Non-executive Director UWE AHRENS Alternate Director SHANE VOLK BBus (ACC) GradDip (ACG) CSA Company Secretary & CFO
ADDRESS:
Suite 8, 295 Rokeby Road, Subiaco, Western Australia, 6008 T: +61 8 6168 1555 F: +61 8 6168 1551
MEDIA CONTACT Tony Dawe Professional Public Relations [email protected] T: +61 8 9388 0944
Appendix
5B Mining
exploration
entity
and
oil
and
gas
exploration
entity
quarterly
report
Rule
5.5
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
Introduced
01/07/96
Origin
Appendix
8
Amended
01/07/97,
01/07/98,
30/09/01,
01/06/10,
17/12/10,
01/05/2013
Name
of
entity
ALTECH
CHEMICALS
LIMITED
| ALTECH CHEMICALS LIMITED | ALTECH CHEMICALS LIMITED |
|---|---|
ABN 45 125 301 206 |
Quarter ended (“current quarter”) |
| 45 125 301 206 | 30 September 2015 |
**Consolidated
statement
of
cash
flows**
Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) administration 1.3 Dividends received 1.4 Interest and other items of a similar nature received 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 |
Current quarter $A’000 |
Year to date (3 months) $A’000 |
|---|---|---|
| - (21) (458) - (274) - 3 - - - |
- (21) (458) - (274) - 3 - - - |
|
| (750) | (750) | |
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 1.10 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) |
- - (3) - - - - - - |
- - (3) - - - - - - |
| (3) | (3) | |
| (753) | (753) |
- See
chapter
19
for
defined
terms.
01/05/2013
Appendix
5B
Page
1
Appendix
5B Mining
exploration
entity
and
oil
and
gas
exploration
entity
quarterly
report
| 1.13 Total operating and investing cash flows (brought forward) |
(753) | (753) |
|---|---|---|
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 Dividends paid 1.19 Other (provide details if material) Net financing cash flows |
530 - - - - - |
530 - - - - - |
| 530 | 530 | |
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end ofquarter |
(223) 575 |
(223) 575 |
| 352 | 352 |
Payments
to
directors
of
the
entity,
associates
of
the
directors, related
entities
of
the
entity
and
associates
of
the
related
entities
Current
quarter $A'000 116 1.23 Aggregate
amount
of
payments
to
the
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
Director remuneration
**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 -
See
chapter
19
for
defined
terms. Appendix
5B
Page
2
01/05/2013
Appendix
5B
Mining
exploration
entity
and
oil
and
gas
exploration
entity
quarterly
report
- 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
**Financing
facilities
available**
Add
notes
as
necessary
for
an
understanding
of
the
position.
3.1 Loan
facilities 3.2 Credit
standby arrangements
| Amount available | Amount used | |
|---|---|---|
| $A’000 | $A’000 | |
**Estimated
cash
outflows
for
next
quarter**
4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration |
$A’000 |
|---|---|
| 20 | |
| 230 | |
| - | |
| 350 | |
Total |
600 |
**Reconciliation
of
cash**
| Total Reconciliation of cash |
600 | |
|---|---|---|
| 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 5.2 Deposits at call 5.3 Bank overdraft 5.4 Other (provide details) |
352 | 575 |
| - | - | |
| - | - | |
| - | - | |
Total: cash at end of quarter(item 1.22) |
352 | 575 |
- See
chapter
19
for
defined
terms.
01/05/2013
Appendix
5B
Page
3
Appendix
5B Mining
exploration
entity
and
oil
and
gas
exploration
entity
quarterly
report
**Changes
in
interests
in
mining
tenements
and
petroleum
tenements**
Tenement reference and location Nature of interest (note (2)) Interest at beginning of quarter Interest at end of quarter 6.1 Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed n/a 6.2 Interests in mining tenements and petroleum tenements acquired or increased n/a 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. |
Tenement reference and location Nature of interest (note (2)) Interest at beginning of quarter Interest at end of quarter 6.1 Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed n/a 6.2 Interests in mining tenements and petroleum tenements acquired or increased n/a 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. |
Tenement reference and location Nature of interest (note (2)) Interest at beginning of quarter Interest at end of quarter 6.1 Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed n/a 6.2 Interests in mining tenements and petroleum tenements acquired or increased n/a 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. |
Tenement reference and location Nature of interest (note (2)) Interest at beginning of quarter Interest at end of quarter 6.1 Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed n/a 6.2 Interests in mining tenements and petroleum tenements acquired or increased n/a 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. |
Tenement reference and location Nature of interest (note (2)) Interest at beginning of quarter Interest at end of quarter 6.1 Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed n/a 6.2 Interests in mining tenements and petroleum tenements acquired or increased n/a 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 note3) (cents) |
Amount paid up per security (see note3) (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 securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs |
132,869,456 | 132,869,456 | ||
| 20,856,339 | 20,856,339 | 15,754,239 at $0.059 per share 5,102,100 at nil per share (vesting of director & employee performance rights) |
Fully paid Fully paid |
|
| 7.5 +Convertible debt securities (description) |
- See
chapter
19
for
defined
terms.
Appendix
5B
Page
4
01/05/2013
Appendix
5B
Mining
exploration
entity
and
oil
and
gas
exploration
entity
quarterly
report
| 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted |
||||||
|---|---|---|---|---|---|---|
| 7.7 Options (description and conversion factor) Performance Rights (employees & directors) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter |
4,027,735 2,500,000 1,000,000 1,000,000 1,000,000 600,000 21,005,600 |
4,027,735 - - - - - - |
Exerciseprice $0.10 $0.10 $0.20 $0.25 $0.30 $0.20 nil |
Expirydate 15-Dec-2015 30-June-2016 18-Dec-2017 18-Dec-2017 18-Dec-2017 31-Jan-2017 |
||
| 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
5). -
2 This
statement
does
/does
not* (delete
one) give
a
true
and
fair
view
of
the matters
disclosed.
30
October
2015 Sign
here: ............................................................
Date:
............................ ~~(Director/~~ Company
secretary) Shane
Volk Print
name: .........................................................
- See
chapter
19
for
defined
terms.
01/05/2013
Appendix
5B
Page
5
Appendix
5B Mining
exploration
entity
and
oil
and
gas
exploration
entity
quarterly
report
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
and
petroleum
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
or
petroleum
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
6:
Exploration
for
and
Evaluation
of Mineral
Resources and AASB
107:
Statement
of
Cash
Flows apply
to
this
report. -
5 Accounting
Standards ASX
will
accept,
for
example,
the
use
of
International Financial
Reporting
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
01/05/2013