CATALYST METALS LIMITED — Interim / Quarterly Report 2021

Oct 26, 2021

Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Name of entity

Catalyst Metals Limited

ABN Quarter ended (“current quarter”) 54 118 912 495

30 September 2021

Consolidated statement of cash flows	Current quarter $A’000	Year to date (3 months) $A’000
1. Cash flows from operating activities 1.1 Receipts from customers 1.2 Payments for (a) exploration and evaluation (if expensed and including staff costs allocated to exploration) (b) development (c) production (d) staff costs (excluding costs allocated to exploration) (e) administration and corporate costs 1.3 Dividends received (see note 3) 1.4 Interest received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Government grants and tax incentives 1.8 Other 1.9 Net cash from/(used in) operating activities	15,350 (180) (1,980) (9,511) (1,370) (1,334) - 13 (10) - 657 -	15,350 (180) (1,980) (9,511) (1,370) (1,334) - 13 (10) - 657 -
	1,634	1,634
2. Cash flows from investing activities 2.1 Payments to acquire: (a) entities (Henty gold mine) (b) tenements (c) property, plant and equipment (d) exploration and evaluation (if capitalised) (e) investments (f) other non-current assets	(3,000) - (1,070) (2,986) - -	(3,000) - (1,070) (2,986) - -

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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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 (3 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: Exploration tenement bonds 2.6 Net cash from/(used in) investing activities	- - - - - - - (20)	- - - - - - - (20)
	(7,076)	(7,076)
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 3.6 Repayment of borrowings 3.7 Transaction costs related to loans and borrowings 3.8 Dividends paid 3.9 Other: Net contributions from Joint Venture partners for exploration activities 3.10 Net cash from/(used in) financing activities	- - - - 1,069 (1,058) - - (108)	- - - - 1,069 (1,058) - - (108)
	(97)	(97)
4. Net increase/(decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 4.2 Net cash from/(used in) operating activities (item 1.9 above) 4.3 Net cash from/(used in) investing activities (item 2.6 above) 4.4 Net cash from/(used in) financing activities (item 3.10 above) 4.5 Effect of movement in exchange rates on cash held 4.6 Cash and cash equivalents at end of period1	33,518 1,634 (7,076) (97) -	33,518 1,634 (7,076) (97) -
	27,979	27,979

1 Includes $441,000 held on trust on behalf of Joint Ventures of which the Company is the manager, to meet future exploration commitments at the Four Eagles, Tandarra, Drummartin, Macorna and Boort Joint Ventures

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

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	Current quarter $A’000	Previous quarter $A’000
5.1 Bank balances 5.2 Call deposits 5.3 Bank overdrafts 5.4 Other – Joint Venture exploration funds held on trust 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above)	6,540 20,998 - 441		7,999 25,009 - 510
	27,979		33,518
6. Payments to related parties of the entity and their associates 6.1 Aggregate amount of payments to related parties and their associates included in item 1 6.2 Aggregate amount of payments to related parties and their associates included in item 2		Current quarter $A'000
		158
		26
Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments Includes payments to directors for directors’ fees for the September 2021 quarter and consulting fees paid to Messrs Kay, Boston and Schwab for the provision of additional technical and management services to the Company. Also includes payments to Raisemetrex Pty, a company of which Mr Boston is a director, for the provision of an online platform for the administration of capital raisings and electronic communications with shareholders. The amount in 6.2 represents the capitalised portion of Mr Kay’s consulting fees for technical and management services provided to the Four Eagles and Tandarra Joint Ventures for the quarter.

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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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 7.1 Loan facilities 7.2 Credit standby arrangements 7.3 Other (please specify) 7.4 Total financing facilities	Total facility amount at quarter end $A’000	Amount drawn at quarter end $A’000
	786	786
	-	-
	-	-
	786 786
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.

During the September 2021 quarter the Company obtained insurance premium funding for $711,000 from Ledge Finance Limited to finance the insurance program for the Henty mine. The interest rate is 3% and the financing is unsecured and repayable in 10 equal instalments by February 2022.

Henty Gold Pty Ltd, which was acquired on 20 January 2021 had a number of existing finance leases for various mine equipment and light vehicles. There was one new finance lease with NAB for a value of $330,000 with interest rate of 2.84% maturing September 2023. All are secured against the leased assets.

During the September 2021 quarter the Company obtained insurance premium funding for $711,000 from Ledge Finance Limited to finance the insurance program for the Henty mine. The interest rate is 3% and the financing is unsecured and repayable in 10 equal instalments by February 2022. Henty Gold Pty Ltd, which was acquired on 20 January 2021 had a number of existing finance leases for various mine equipment and light vehicles. There was one new finance lease with NAB for a value of $330,000 with interest rate of 2.84% maturing September 2023. All are secured against the leased assets.	During the September 2021 quarter the Company obtained insurance premium funding for $711,000 from Ledge Finance Limited to finance the insurance program for the Henty mine. The interest rate is 3% and the financing is unsecured and repayable in 10 equal instalments by February 2022. Henty Gold Pty Ltd, which was acquired on 20 January 2021 had a number of existing finance leases for various mine equipment and light vehicles. There was one new finance lease with NAB for a value of $330,000 with interest rate of 2.84% maturing September 2023. All are secured against the leased assets.	During the September 2021 quarter the Company obtained insurance premium funding for $711,000 from Ledge Finance Limited to finance the insurance program for the Henty mine. The interest rate is 3% and the financing is unsecured and repayable in 10 equal instalments by February 2022. Henty Gold Pty Ltd, which was acquired on 20 January 2021 had a number of existing finance leases for various mine equipment and light vehicles. There was one new finance lease with NAB for a value of $330,000 with interest rate of 2.84% maturing September 2023. All are secured against the leased assets.
8.	Estimated cash available for future operating activities	$A’000
8.1 8.2 8.3 8.4 8.5 8.6 8.7 8.8	Net cash from / (used in) operating activities (item 1.9) 1,634 Payments for exploration & evaluation classified as investing activities (item 2.1(d)) (2,986) Total relevant outgoings (item 8.1 + item 8.2) (1,352) Cash and cash equivalents at quarter end (item 4.6) 27,979 Unused finance facilities available at quarter end (item 7.5) - Total available funding (item 8.4 + item 8.5) 27,979 Estimated quarters of funding available (item 8.6 divided by item 8.3) N/A 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. 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?	1,634 (2,986) (1,352) 27,979 -
		27,979
	Answer: N/A
	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

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

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

• 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.

• 2 This statement gives a true and fair view of the matters disclosed.

Date: 27 October 2021

Authorised by: Board of Directors

(Name of body or officer authorising release – see note 4)

Notes

1. 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.

2. 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.

3. 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.

4. 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”.

5. 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.

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