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BRIGHTSTAR RESOURCES LIMITED — Interim / Quarterly Report 2020
Apr 16, 2020
64581_rns_2020-04-16_b30435e5-8916-47c4-a018-1dbe69472f14.pdf
Interim / Quarterly Report
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**STONE
RESOURCES
AUSTRALIA
LIMITED**
17
April
2020
**MARCH
QUARTER
ACTIVITY
REPORT**
1. Overview
A
summary
on
the
main
items
of
activities
for
Stone
Resources
Australia
Limited (“the
Company”)
is
outlined
below:
- The
Company
has
entered
into
a
Debt
and
Equity
Compromise
Agreement
with its
major
debt
provider
and
major
shareholder
to
extinguish
approximately $53M
of
debt
and
to
buy
back
approximately
433M
shares
(approximately
58%) of
the
Company’s
current
issued
capital
for
a
total
of
$11.4M
cash
and
the granting
of
a
2.5%
NSR
over
all
of
the
Company’s
tenements.
To
finance
the
acquisition
costs
and
to
provide
capital
to
the
Company
forward, the
Company
proposes
to
sell
its
North
Project,
including
the
Ben
Hur
and
Delta deposits.
The
Company
has
engaged
PCF
Capital
Group
to
manage
the
sale process.
Please
see
ASX
announcement
dated
25
March
2020
for
details.
- The
Company
and
Ms.
Priscilla
Bouckaert
have
entered
into
a
Settlement
Deed on
6
March
2020
that
contains
a
confidentiality
clause.
The
Company
is
able
to
inform
the
market
that
the
terms
of
the
settlement
do not
have
any
negative
impact
on
the
financial
position
of
the
Company
but
will enable
the
Company
to
clear
any
liabilities,
including
contingent,
relating
to
the action
from
the
financials
of
the
Company..
3/25 Belgravia Street Belmont W A 6104 Telephone (618) 9277 6008: F ax (618) 9277 6002: ASX Code SHK Email [email protected] website: www. stoneral.com.au ABN 44 100 727 491: ASX Code SHK : Member of AMEC
**STONE
RESOURCES
AUSTRALIA
LIMITED**
- The
Company
continues
to
investigate
suitable
opportunities
for
the
development
of the
Ben
Hur,
Alpha,
Corktree
Well
and
Beta
projects.
2. Corporate
The
Company
received
continuous
funding
from
the
parent
entity,
Stone
Resources
Limited, for
exploration
and
working
capital
requirements.
During
the
quarter
the
Company
received approximately
$371,000
from
the
parent
entity.
**3. Tenement
Schedule**
The
mining
tenements
held
by
the
Company
at
the
end
of
the
quarter
and
their
location
can refer
to
the
addendum
to
this
report.
For
further
information,
please
see
other
ASX
announcements
or
email
the
Joint
Company Secretary
at
[email protected].
Yours
sincerely
==> picture [90 x 73] intentionally omitted <==
Sheng
Lu
Deputy
Chief
Executive
Officer
3/25 Belgravia Street Belmont W A 6104 Telephone (618) 9277 6008: F ax (618) 9277 6002: ASX Code SHK Email [email protected] website: www. stoneral.com.au ABN 44 100 727 491: ASX Code SHK : Member of AMEC
**STONE
RESOURCES
AUSTRALIA
LIMITED**
TENEMENT
SCHEDULE
AS
AT
31
MARCH
2020 GRANTED
TENEMENTS
BRIGHTSTAR
(SOUTH
LAVERTON)
| LEASE | PROJECT | STATUS | **LEASEMANAGER ** | TOTALSHARES |
|---|---|---|---|---|
| M38/968 * | Alpha | Granted | Desert Exploration Pty Ltd | 100 |
| M38/1056 * | Alpha | Granted | Stone Resources Australia Limited | 100 |
| M38/1057 * | Alpha | Granted | Stone Resources Australia Limited | 100 |
| M38/1058 * | Alpha | Granted | Stone Resources Australia Limited | 100 |
| M38/9 * | Beta | Granted | Stone Resources Australia Limited | 100 |
| E38/2316 * | Gamma | Granted | Stone Resources Australia Limited | 100 |
| E38/2364 * | Gamma | Granted | Stone Resources Australia Limited | 100 |
| E38/2365 * | Gamma | Granted | Stone Resources Australia Limited | 100 |
| E38/2411 * | Gamma | Granted | Stone Resources Australia Limited | 100 |
| E38/3034 * | Gamma | Granted | Stone Resources Australia Limited | 100 |
| E38/3108 * | Gamma | Granted | Stone Resources Australia Limited | 100 |
| E38/3293 * | Gamma | Granted | Stone Resources Australia Limited | 100 |
| E38/3331 * | Gamma | Granted | Stone Resources Australia Limited | 100 |
| M38/241 * | Gamma | Granted | Stone Resources Australia Limited | 100 |
| M38/549 * | Gamma | Granted | Stone Resources Australia Limited | 100 |
| M38/984 * | Gamma | Granted | Stone Resources Australia Limited | 100 |
| P38/4377 * | Gamma | Granted | Stone Resources Australia Limited | 100 |
| P38/4385 * | Gamma | Granted | Stone Resources Australia Limited | 100 |
| P38/4431 | Gamma | Granted | Stone Resources Australia Limited | 100 |
| P38/4432 | Gamma | Granted | Stone Resources Australia Limited | 100 |
| P38/4433 * | Gamma | Granted | Stone Resources Australia Limited | 100 |
| P38/4444 * | Gamma | Granted | Stone Resources Australia Limited | 100 |
| P38/4445 * | Gamma | Granted | Stone Resources Australia Limited | 100 |
| P38/4446 * | Gamma | Granted | Stone Resources Australia Limited | 100 |
| P38/4447 * | Gamma | Granted | Stone Resources Australia Limited | 100 |
| P38/4448 * | Gamma | Granted | Stone Resources Australia Limited | 100 |
| P38/4449 * | Gamma | Granted | Stone Resources Australia Limited | 100 |
| P38/4450 * |
Gamma | Granted | Stone Resources Australia Limited | 100 |
3/25 Belgravia Street Belmont W A 6104 Telephone (618) 9277 6008: F ax (618) 9277 6002: ASX Code SHK Email [email protected] website: www. stoneral.com.au ABN 44 100 727 491: ASX Code SHK : Member of AMEC
**STONE
RESOURCES
AUSTRALIA
LIMITED**
**GRANTED
TENEMENTS
BRIGHTSTAR
NORTH
(NORTH
LAVERTON)**
| LEASE | PROJECT | STATUS | **LEASEMANAGER ** | TOTALSHARES |
|---|---|---|---|---|
| E38/2452 * | Delta | Granted | Stone Resources Australia Limited | 100 |
| E38/2894 * | Delta | Granted | Stone Resources Australia Limited | 100 |
| M38/346 * | Delta | Granted | Stone Resources Australia Limited | 100 |
| M38/917 * | Delta | Granted | Stone Resources Australia Limited | 100 |
| M38/918 * | Delta | Granted | Stone Resources Australia Limited | 100 |
| P38/4108 * | Delta | Granted | Stone Resources Australia Limited | 100 |
| E38/1936 * | Epsilon | Granted | Stone Resources Australia Limited | 100 |
| E38/1937 * | Epsilon | Granted | Stone Resources Australia Limited | 100 |
| P38/4114 * | Epsilon | Granted | Stone Resources Australia Limited | 100 |
| P38/4115 * | Epsilon | Granted | Stone Resources Australia Limited | 100 |
| M38/160 * | Epsilon | Granted | Stone Resources Australia Limited | 100 |
| M38/339 * | Epsilon | Granted | Stone Resources Australia Limited | 100 |
| E38/2332 * | Eta | Granted | Stone Resources Australia Limited | 100 |
| E38/2361 * | Eta | Granted | Stone Resources Australia Limited | 100 |
| M38/1241 * | Eta | Granted | Stone Resources Australia Limited | 100 |
| P38/4364 * | Eta | Granted | Stone Resources Australia Limited | 100 |
| P38/4416 * | Eta | Granted | Stone Resources Australia Limited | 100 |
| P38/4417 * | Eta | Granted | Stone Resources Australia Limited | 100 |
| E38/3198 * | Eta | Granted | Stone Resources Australia Limited | 100 |
| E38/3199 * | Eta | Granted | Stone Resources Australia Limited | 100 |
| E38/3233 * | Eta | Granted | Stone Resources Australia Limited | 100 |
| E38/3234 * |
Eta | Granted | Stone Resources Australia Limited | 100 |
**GRANTED
TENEMENTS
BRIGHTSTAR
(LAVERTON)**
| LEASE | PROJECT | STATUS | LEASEMANAGER TOTALSHARES |
|---|---|---|---|
| E38/2233 * |
Stand-alone | Granted | Stone Resources Australia Limited 100 |
3/25 Belgravia Street Belmont W A 6104 Telephone (618) 9277 6008: F ax (618) 9277 6002: ASX Code SHK Email [email protected] website: www. stoneral.com.au ABN 44 100 727 491: ASX Code SHK : Member of AMEC
**STONE
RESOURCES
AUSTRALIA
LIMITED**
**GRANTED
TENEMENTS
BRIGHTSTAR
NORTH
(NORTH
LAVERTON)**
| LEASE | PROJECT | STATUS | **LEASEMANAGER ** | TOTALSHARES |
|---|---|---|---|---|
| M38/94 * | Hawkes Nest | Granted | Stone Resources Australia Limited | 100 |
| M38/95 * | Hawkes Nest | Granted | Stone Resources Australia Limited | 100 |
| M38/314 * | Hawkes Nest | Granted | Stone Resources Australia Limited | 100 |
| M38/381 * |
Hawkes Nest | Granted | Stone Resources Australia Limited | 100 |
GRANTED MISCELLANEOUS LICENCES |
||||
| LEASE | STATUS | **LEASEMANAGER ** | TOTALSHARES | |
| L38/100 | Granted | Stone Resources Australia Limited | 100 | |
| L38/123 | Granted | Stone Resources Australia Limited | 100 | |
| L38/168 | Granted | Stone Resources Australia Limited | 100 | |
| L38/169 | Granted | Stone Resources Australia Limited | 100 | |
| L38/171 | Granted | Stone Resources Australia Limited | 100 | |
| L38/185 | Granted | Stone Resources Australia Limited | 100 | |
| L38/188 | Granted | Stone Resources Australia Limited | 100 | |
| L38/154 | Granted | Stone Resources Australia Limited | 100 | |
| L38/205 | Granted | Stone Resources Australia Limited | 100 | |
| L38/206 | Granted | Stone Resources Australia Limited | 100 |
Note:
The
above
marked
tenements
are
subject
to
various
applications
for
forfeiture
and
objections
to applications
for
exemption.
3/25 Belgravia Street Belmont W A 6104 Telephone (618) 9277 6008: F ax (618) 9277 6002: ASX Code SHK Email [email protected] website: www. stoneral.com.au ABN 44 100 727 491: ASX Code SHK : Member of AMEC