AI assistant
ASTRON LIMITED — Interim / Quarterly Report 2016
Jan 31, 2016
64449_rns_2016-01-31_4a4dbb93-b32e-45dd-8d76-3164b5d422ce.pdf
Interim / Quarterly Report
Open in viewerOpens in your device viewer
==> picture [189 x 64] intentionally omitted <==
ASTRON CORPORATION LIMITED ARBN 154 924 553
Incorporated in Hong Kong, company number 1687414
Notice to the Australian Stock Exchange Production and Exploration Report Quarter Ended 31 December 2015
Donald Mineral Sands Pty Ltd (DMS) and Sovereign Gold NL (SG) (both 100%
controlled by Astron Corporation Limited)
DMS owns EL5255, EL5472, MIN5532, RL2002 (formerly EL4433) and RL2003 (formerly EL4432) and has applied for RLA2006 (formerly EL5353), SG owns EL5186 and EL5354, which together comprise the Donald Mineral Sands Project (Donald Project). EL5263 (owned by DMS) and EL5261 and EL5262 (owned by SG) expired in May 2015.
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 mining and processing optimisation on the basis of the feasibility study announced in July 2013.
Exploration
During the quarter, sample handling and preparation continued for drill samples collected through the February – March drilling program at RL2002 and RL2003. The laboratory assaying of the drill samples is currently underway.
Work Plan
No further update.
Funding
The parties continue to work towards satisfaction of conditions precedent and improving the projects.
Registered Office: Level 17, 383 Kent Street, Sydney NSW 2000, Australia www.astronlimited.com
==> picture [189 x 64] intentionally omitted <==
EXPENDITURE SUMMARY
Total expenses incurred were:
| Production Activities | Dec Qtr 2015 | YTD 2016FY |
|---|---|---|
| Nil | Nil | |
| DevelopmentActivities | Dec Qtr 2015 | YTD 2016FY |
| $1,270,155 | $2,191,483 |
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 | Dec Qtr 2015 | YTD 2016FY |
|---|---|---|
| Nil | Nil | |
| DevelopmentActivities | Dec Qtr 2015 | YTD 2016FY |
| $215,017 | $419,480 |
For further information, please contact:
Kang Rong, Executive Director +61 3 5385 7088 Joshua Theunissen, Company Secretary +61 3 5385 7088 [email protected]
Minyip 29 January 2016
Registered Office: Level 17, 383 Kent Street, Sydney NSW 2000, Australia www.astronlimited.com