CENTAURUS METALS LIMITED — Interim / Quarterly Report 2019

Jan 29, 2020

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

+Rule 5.5

Appendix 5B

Mining exploration entity and oil and gas 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, 01/05/13, 01/09/16

Name of entity

CENTAURUS METALS LIMITED ABN Quarter ended (“current quarter”) 40 009 468 099 31 December 2019

Consolidated statement of cash flows	Consolidated statement of cash flows	Current quarter	Year to date
		$A’000	(12 months)
			$A’000
1.	Cash flows from operating activities
1.1	Receipts from customers	-	-
1.2	Payments for
	(a) exploration & evaluation	(1,156)	(2,752)
	(b) development	-	-
	(c) production	-	-
	(d) staff costs*	-
	(e) administration and corporate costs	(359)	(1,315)
1.3	Dividends received (see note 3)	-	-
1.4	Interest received	109	137
1.5	Interest and other costs of finance paid	-	-
1.6	Income taxes paid	-	-
1.7	Other – Funds from Joint Venture Partner &	31	253
	Other
1.8	Net cash from / (used in) operating	(1,375)	(3,677)
	activities
*The	Company’s accounting policy allocates staff costs to activities	and as such they are included in items 1.2(a) and 1.2(e).
2.	Cash flows from investing activities
2.1	Payments to acquire:
	(a) property, plant and equipment	(145)	(179)
	(b) tenements (see item 10)	-	-

• See chapter 19 for defined terms 1 September 2016

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

Consolidated statement of cash flows	Consolidated statement of cash flows	Current quarter	Year to date
		$A’000	(12 months)
			$A’000
	(d) other non-current assets	-	-
2.2	Proceeds from the disposal of:
	(a) property, plant and equipment	-	-
	(b) tenements (see item 10)	-	-
	(d) other non-current assets	-	-
2.3	Cash flows from loans to other entities	-	-
2.4	Other – Buyback of Project Royalty	-	(41)
2.5	Net cash from / (used in) investing	(145)	(220)
	activities
3.	Cash flows from financing activities
3.1	Proceeds from issues of shares	4,076	12,222
3.2	Proceeds from issue of convertible notes	-	-
3.3	Proceeds from exercise of share options	-	805
3.4	Transaction costs related to issues of	(282)	(818)
	shares, convertible notes or options
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 (provide details if material)	-	-
3.10	Net cash from / (used in) financing	3,794	12,209
	activities
4.	Net increase / (decrease) in cash and
	cash equivalents for the period
4.1	Cash and cash equivalents at beginning of
	period	7,425	1,400
4.2	Net cash from / (used in) operating	(1,375)	(3,667)
	activities (item 1.8 above)
4.3	Net cash from / (used in) investing activities	(145)	(220)
	(item 2.5 above)
4.4	Net cash from / (used in) financing activities	3,794	12,209
	(item 3.10 above)
4.5	Effect of movement in exchange rates on	(24)	(37)
	cash held
4.6	Cash and cash equivalents at end of	9,675	9,675
	period

• See chapter 19 for defined terms 1 September 2016

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

5.	Reconciliation of cash and cash	Current quarter	Previous quarter
	equivalents	$A’000	$A’000
	at the end of the quarter (as shown in the
	consolidated statement of cash flows) to the
	related items in the accounts
5.1	Bank balances	5	68
5.2	Call deposits	9,670	7,357
5.3	Bank overdrafts
5.4	Other (provide details)
5.5	Cash and cash equivalents at end of	9,675	7,425
	quarter (should equal item 4.6 above)
6.	Payments to directors of the entity and	their associates	Current quarter
			$A'000
6.1	Aggregate amount of payments to these parties included in item 1.2		186
6.2	Aggregate amount of cash flow from loans to these parties included		-
	in item 2.3
6.3	Include below any explanation necessary to understand the transactions		included in
	items 6.1 and 6.2
Non-Executive Director Remuneration			42
Executive Director Remuneration			144

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7. Payments to related entities of the entity and their Current quarter
associates $A'000
7.1 Aggregate amount of payments to these parties included in item 1.2 14
7.2 Aggregate amount of cash flow from loans to these parties included -
in item 2.3
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• 7.3 Include below any explanation necessary to understand the transactions included in items 7.1 and 7.2

• Legal fees paid to MPH Lawyers a director related entity.

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8. Financing facilities available Total facility amount Amount drawn at
Add notes as necessary for an at quarter end quarter end
understanding of the position $A’000 $A’000
8.1 Loan facilities - -
8.2 Credit standby arrangements - -
8.3 Other (please specify) - -
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• 8.4 Include below a description of each facility above, including the lender, interest rate and whether it is secured or unsecured. If any additional facilities have been entered into or are proposed to be entered into after quarter end, include details of those facilities as well.

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• See chapter 19 for defined terms 1 September 2016

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

9.	Estimated cash outflows for next quarter	$A’000
9.1	Exploration and evaluation	2,075
9.2	Development	-
9.3	Production	-
9.4	Staff costs	-
9.5	Administration and corporate costs	400
9.6	Other (provide details if material)	-
9.7	Total estimated cash outflows	2,475

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10. Changes in Tenement reference and Nature of Interest at Interest
tenements location interest beginning at end of
(items 2.1(b) and of quarter quarter
2.2(b) above)
10.1 Interests in mining 851.548/2011 Serra Misteriosa Relinquished 100% 0%
tenements and 850.258/2013 Serra Misteriosa Relinquished 100% 0%
petroleum
tenements
lapsed,
relinquished or
reduced
10.2 Interests in mining
tenements and
petroleum
tenements
acquired or
increased
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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.

Sign here: Date: 30 January 2020 ~~(Director~~ /Company secretary)

Print name: John Westdorp

• See chapter 19 for defined terms 1 September 2016

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

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 that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.

2. If this quarterly 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 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. See chapter 19 for defined terms 1 September 2016

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Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Additional Information Required by LR5.3.3

Tenement Listing

Brazilian Tenements

Tenement	Project Name	Location	Interest
831.638/2004	Canavial	Minas Gerais	100%
831.639/2004	Canavial	Minas Gerais	100%
831.649/2004	Jambreiro(MiningLease)	Minas Gerais	100%
833.409/2007	Jambreiro(MiningLease)	Minas Gerais	100%
834.106/2010	Jambreiro(MiningLease)	Minas Gerais	100%
831.645/2006	Passabém	Minas Gerais	100%
830.588/2008	Passabém	Minas Gerais	100%
833.410/2007	Regional Guanhães	Minas Gerais	100%
850.430/2013	Salobo West I	Pará	100%(1)
850.486/2017	Salobo West I	Pará	100%(1)
850.429/2016	Salobo West II	Pará	100%(1)
850.130/2013	Pebas	Pará	100%
850.475/2016	Itapitanga	Pará	100%(2)

(1) The Company has agreed to divest the Salobo West Project tenure to Vale SA as part of the acquisition of the Jaguar Nickel Sulphide Project. Refer ASX Announcement 6 August 2019. At Quarter end the Jaguar acquisition has not yet settled and hence title to the Salobo West tenements presently remains with Centaurus.

(2) Itapitanga Project joint ventured to Simulus Group whereby they can earn 80% by free carrying Centaurus to a decision to mine.

Australian Tenements	Australian Tenements	Australian Tenements	Australian Tenements
Tenement	Project Name	Location	Interest
EPM14233	Mt Isa	Queensland	10%(3)

(3) Subject to a Farm‐Out and Joint Venture Exploration Agreement with Summit Resources (Aust) Pty Ltd. Summit has earned a 90% interest in the Project. Aeon Metals Limited has acquired 80% of Summit’s Interest giving them a total interest of 72% of the tenement.

• See chapter 19 for defined terms 1 September 2016

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