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ASTRON LIMITED — Interim / Quarterly Report 2015
Apr 29, 2015
64449_rns_2015-04-29_d4bae3f9-42a1-436b-b833-9e3e9157e264.pdf
Interim / Quarterly Report
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ASTRON CORPORATION LIMITED ABN 154 924 553
Incorproated in Hong Kong, company number 1687414
Notice to the Australian Stock Exchange Production and Exploration Report Quarter Ended 31 March 2015
Donald Mineral Sands Pty Ltd (100% controlled by Astron Limited) (DMS)
DMS owns EL4432, EL4433, EL5255, EL5263, EL5353, EL5472, MIN5532, RL2002 and RL2003 which together comprise the Donald Mineral Sands Project (Donald Project).
Donald Project
PRODUCTION
During the quarter the Donald Project did not conduct any production activities.
DEVELOPMENT
During the quarter, the development of the Donald continued with the following being undertaken:
Feasibility study
The company continues to consider funding, mining and processing optimisation on the basis of the feasibility study announced in July 2013.
Exploration
During the quarter, drilling was carried out on site at RL2002 and RL2003 area. In total 157 holes at RL2002 and 82 holes at RL2003 were drilled. The batch transportation of drill samples to sample preparation is underway and will continue depending on sample drying. Further details will be announced once the updated information is available from the analysis of the drilling program.
Work Plan
No further update.
Funding
Astron is continuing the process of exploring funding alternatives for the Donald Mineral Sands project. Up to the date of this report, no binding agreements have been reached. As announced in April 2014 Donald Mineral Sands Pty Ltd has entered into a framework agreement with the China Machinery Engineering Corporation, which sets out the parties’ intentions and the process for agreeing on an EPC contract for supply and installation of equipment for the MUP/WCP for the Donald Mineral Sands project and assistance with funding the Project.
Registered Office: Level 17, 383 Kent Street, Sydney NSW 2000, Australia www.astronlimited.com
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EXPENDITURE SUMMARY
Total expenses incurred were:
| Production Activities | MarQtr 2015 | YTD 2015FY |
|---|---|---|
| Nil | Nil | |
| DevelopmentActivities | MarQtr 2015 | YTD 2015FY |
| $1,009,706 | $2,977,787 |
Niafarang Project
PRODUCTION
During the quarter the Niafarang Project did not conduct any production activities.
DEVELOPMENT
Mining licence application
Work continued towards obtaining the mining licence.
EXPENDITURE SUMMARY
Total expenses incurred were:
| Production Activities | MarQtr 2015 | YTD 2015FY |
|---|---|---|
| Nil | Nil | |
| DevelopmentActivities | MarQtr 2015 | YTD 2015FY |
| $165,171 | $536,943 |
For further information, please contact:
Kang Rong, Executive Director +61 3 5385 7088
Joshua Theunissen, Company Secretary +61 3 5385 7088 [email protected]
Minyip 30 April 2015
Registered Office: Level 17, 383 Kent Street, Sydney NSW 2000, Australia www.astronlimited.com