Celsius Resources Limited — Interim / Quarterly Report 2014

Jan 30, 2014

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

Rule 5.3

Appendix 5B

Mining 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

Celsius Coal Limited

ABN 95 009 162 949	Quarter ended (“current quarter”)
95 009 162 949	31 December 2013

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 Net Operating Cash Flows	Current quarter $A’000	Year to date (6 months) $A’000
	(1,429) (873) 2	(2,815) (1,716) 4
	(2,299)	(4,526)
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 (Net receipts from investments accounted for using the equity method) Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)	(2) 4	(3) 4
	2	1
	(2,297)	(4,525)

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

1.13 Total operating and investing cash flows (brought forward)	(2,297)	(4,525)
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 1.15 Funds held in trust for Tranche 2 share issue 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other (Costs for share issue) Net financing cash flows	50 500 (4)	150 2,500 (7)
	546	2,643
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	(1,751) 2,193 3	(1,882) 2,340 (13)
	445	445

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

1.23 1.24	Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10	Current quarter $A'000
		187
1.25	Explanation necessaryfor an understandingof the transactions
	Directors Fees

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

• 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

• See chapter 19 for defined terms.

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Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Financing facilities available

Add notes as necessary for an understanding of the position.

	3.1 Loan facilities/convertible notes available 3.2 Credit standby arrangements	Amount available $A’000	Amount used $A’000
		5,000	2,500

Estimated cash outflows for next quarter

4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration	$A’000
	750
	-
	-
	700
Total	**1,450 **

Reconciliation of cash

Reconciliation of cash
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	445	2,193
	-
	-	-
	-	-
Total: cash at end of quarter(item 1.22)	445	2,193

Changes in interests in mining tenements

6.1 Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements and petroleum tenements acquired or increased	Tenement reference	Nature of interest (note (2))	Interest at beginning ofquarter	Interest at end of quarter
	None	See end of App 5B for full list of tenements as at end of this quarter
	None

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

Issued and quoted securities at end of current quarter

Description includes rate of	Description includes rate of	interest and any redemption or conversion rights together withprices and dates.	interest and any redemption or conversion rights together withprices and dates.	interest and any redemption or conversion rights together withprices and dates.	interest and any redemption or conversion rights together withprices and dates.
		Total number	Number quoted	Issue price per security (see note 3) (cents)	Amount paid up per security (see note 3) (cents)
7.1 7.2	Preference +securities (description) Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs, redemptions
7.3 7.4	+Ordinary Securities Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs	2,010,976,397	2,010,976,397		Fully Paid
		(a) 5,000,000 options conversion (b) 16,000,000 conversion of Performance Rights to Ordinary Shares upon vesting conditions being met	(a) 5,000,000 options conversion (b) 16,000,000 conversion of Performance Rights to Ordinary Shares upon vesting conditions beingmet	(a) Conversion of options expiring at 31 March 2014 at $0.01 (b) nil	(a) Fully Paid (b) Fully Paid
7.5 7.6	Performance securities (description) Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted	205,400,000 Performance A Shares 205,400,000 Performance B Shares 205,400,000 Performance C Shares 155,400,000 Performance D Shares 155,400,000 Performance E Shares 25,000,000 Performance B Rights		Nil	N/A
		16,000,000 Performance A Rights converted to Ordinary Shares (see above) 9,000,000 Performance A Rights cancelled 25,000,000 Performance B Rights issued

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

7.7 Options (description and conversion factor) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	155,000,000 unlisted 5,000,000 Class A 20,000,000 Class C 2,000,000 Employee 25,000,000 unlisted 15,000,000 unlisted 15,000,000 unlisted 15,000,000 unlisted 5,000,000 Employee 12,500,000 unlisted		Exercise price $0.01 $0.02 $0.02 $0.02 $0.025 $0.02 $0.035 $0.05 $0.02 $0.02	Expiry date 31/03/2014 31/10/2014 21/02/2015 21/02/2016 10/04/2016 20/05/2016 20/05/2016 20/05/2016 24/10/2016 12/12/2016
	5,000,000 Employee 12,500,000 unlisted		$0.02 $0.02	24/10/2016 12/12/2016
	5,000,000 unlisted		$0.01	31/03/2014
	25,000,000 Class A - Cancelled		$0.02	31/10/2014
7.11 Debentures (totals only)
7.12 Unsecured notes(totals only)	25

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 give a true and fair view of the matters disclosed.

Sign here: (Company secretary)

Date: 31 January 2014

Print name: Ranko Matic

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 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

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

mining 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.

== == == == ==

Details of tenements held at the end of each quarter and their location:

			% Beneficial
			ownership held /
Tenement	Location	Tenement #	earning
MURRIN MURRIN STH	Eastern Goldfields, WA	E39/1641	100%
NICKEL	Eastern Goldfields, WA	E39/1684	100%
CARNILYA	Carnilya Hill, WA	L26/0241	30%
CARNILYA	Carnilya Hill, WA	M26/0047	30%
CARNILYA	Carnilya Hill, WA	M26/0048	30%
CARNILYA	Carnilya Hill, WA	M26/0049	30%
CARNILYA	Carnilya Hill, WA	M26/0453	30%
KYRGYZ REPUBLIC	Alai Range	SARY MOGOL	100%
KYRGYZ REPUBLIC	Uzgen Basin	TUYUK-KARGASHA	80%
KYRGYZ REPUBLIC	Uzgen Basin	KOKKIA	80%
KYRGYZ REPUBLIC	Uzgen Basin	MIN-TEKE	80%

• See chapter 19 for defined terms.

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