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CHALICE MINING LIMITED — Interim / Quarterly Report 2006
Apr 27, 2006
64649_rns_2006-04-27_49c712e2-d2ad-4d5c-9b39-66f10a429dc9.pdf
Interim / Quarterly Report
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Appendix 5B
$Rule 5.3$
Mining exploration entity quarterly report
Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.
Name of entity
CHALICE GOLD MINES LIMITED
ABN
47 116 648 956
| Ouarter ended ("current quarter") | |
|---|---|
| 31 MARCH 2006 |
Consolidated statement of cash flows
| Cash flows related to operating activities | Current quarter \$A |
Year to date $(9$ months) \$A |
|
|---|---|---|---|
| 1.1 | Receipts from product sales and related debtors | ||
| 1.2 | (a) exploration and evaluation Payments for (b) development |
(7,708) | (7,708) |
| (c) production (d) administration |
(25, 830) | (25, 830) | |
| 1.3 | Dividends received | ||
| 1.4 | Interest and other items of a similar nature received | 15,873 | 15,873 |
| 1.5 | Interest and other costs of finance paid | ||
| 1.6 | Income taxes paid | ||
| 1.7 | Other | ||
| Net Operating Cash Flows | (17, 665) | (17, 665) | |
| Cash flows related to investing activities | |||
| 1.8 | Payment for purchases of: (a)prospects | ||
| (b)equity investments | |||
| (c)other fixed assets | (1,090) | (1,090) | |
| 1.9 | Proceeds from sale of: (a)prospects |
||
| (b) equity investments | |||
| 1.10 | (c)other fixed assets Loans to other entities |
||
| 1.11 | Loans repaid by other entities | ||
| 1.12 | Other (provide details if material) | ||
| Net investing cash flows | (1,090) | (1,090) | |
| 1.13 | Total operating and investing cash flows (carried | ||
| forward) | (18, 755) | (18, 755) |
$+$ See chapter 19 for defined terms.
| Cash flows related to financing activities | |||
|---|---|---|---|
| 1.14 | Proceeds from issues of shares, options, etc. (net) | 7,434,454 | 7,434,454 |
| 1.15 | Proceeds from sale of forfeited shares | ||
| 1.16 | Proceeds from borrowings | 100,200 | 100,200 |
| 1.17 | Repayment of borrowings | ||
| 1.18 | Dividends paid | ||
| 1.19 | Other | ||
| Net financing cash flows | 7,534,654 | 7,534,654 | |
| Net increase (decrease) in cash held | 7,515,899 | 7,515,899 | |
| 1.20 | Cash at beginning of quarter/year to date | ||
| 1.21 | Exchange rate adjustments to item 1.20 | ||
| 1.22 | Cash at end of muarter | 7,515,899 | 7,515,899 |
Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities
| Current quarter SΑ |
||
|---|---|---|
| 1.23 | Aggregate amount of payments to the parties included in item 1.2 | 6,034 |
| 1.24 | Aggregate amount of loans to the parties included in item 1.10 |
1.25 Explanation necessary for an understanding of the transactions
Item 1.23 - Consists of salaries and 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
Until the date of ASX listing (being 24 March 2006) Bullion Minerals Limited, the Company's parent entity until completion of the Initial Public Offering, funded the Company's pre listing activities. Settlement of the loan between Bullion Minerals Limited and Chalice Gold Mines Limited along with a significant proportion of other capital raising costs occurred subsequent to quarter end.
Details of outlays made by other entities to establish or increase their share in projects in which the $2.2$ reporting entity has an interest
$N/A$
+ See chapter 19 for defined terms.
Financing facilities available
Add notes as necessary for an understanding of the position.
| Amount available | Amount used | ||
|---|---|---|---|
| SΑ | SА | ||
| 3.1 | Loan facilities | Nil | Nil |
| -3.2 | Credit standby arrangements | Nil | Nil |
Estimated cash outflows for next quarter
| 4.1 | Exploration and evaluation | SА \$1,000,000 |
|---|---|---|
| 4.2 | Development | |
| Total | \$1,000,000 |
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 SΑ |
Previous quarter \$A |
|
|---|---|---|---|
| 5.1 | Cash on hand and at bank | 7.515,899 | 7,515,899 |
| 5.2 | Deposits at call | ||
| 53 | Bank overdraft | ||
| 5.4 | Other (Bank Guarantee) | ||
| Total: cash at end of quarter (item 1.22) | 7,515,899 | 7.515,899 |
Changes in interests in mining tenements
| 6.1 | Interests in mining tenements relinquished, reduced or lapsed |
Tenement reference |
Nature of interest (note(2)) |
Interest at beginning of quarter |
Interest at end of quarter |
|---|---|---|---|---|---|
| NIL |
+ See chapter 19 for defined terms.
| 6.2 | Interests in mining |
Tenement reference |
Nature of interest (note (2)) |
Interest at beginning of |
Interest at end of |
|---|---|---|---|---|---|
| tenements acquired or increased |
quarter | quarter | |||
| Yandeear ra Project |
|||||
| E47/590 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| E47/591 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| E47/755 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| E47/1041 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| E47/1161 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| E47/1162 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| E47/1163 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| E47/1164 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| E47/1165 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| E47/1166 | Tenement Purchase Agreement with Bullion $(1)$ |
$0\%$ | 100% | ||
| E47/1207 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| M47/560 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| M47/561 | Tenement Purchase Agreement with Bullion $(1)$ |
$0\%$ | 100% | ||
| E47/1318 | Tenement Purchase Agreement with Bullion $(1)$ |
$0\%$ | 100% | ||
| P47/1060 | Option to purchase 100% subject to royalty $(1)$ |
$0\%$ | $0\%$ | ||
| P47/1082 | Option to purchase 100% subject to royalty $(1)$ |
$0\%$ | $0\%$ | ||
| M47/354 | Option to purchase 100% subject to royalty $(1)$ |
$0\%$ | $0\%$ | ||
| M47/373 | Option to purchase 100% subject to royalty $(1)$ |
$0\%$ | $0\%$ | ||
| M47/374 | Option to purchase 100% subject to royalty (1) |
$0\%$ | $0\%$ | ||
| M47/380 | Option to purchase 100% subject to royalty $(1)$ |
$0\%$ | $0\%$ | ||
| M47/498 | Option to purchase 100% subject to royalty $(1)$ |
$0\%$ | $0\%$ | ||
| M47/638 | Option to purchase 100% subject to royalty $(1)$ |
$0\%$ | $0\%$ | ||
| M47/783 | Tenement Purchase Agreement with Bullion $(1)$ |
$0\%$ | 100% | ||
| M47/784 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| M47/785 | Tenement Purchase Agreement with Bullion $(1)$ |
$0\%$ | 100% |
+ See chapter 19 for defined terms.
| 6.2 Interests in mining tenements acquired or increased |
Tenement reference |
Nature of interest (note(2)) |
Interest at beginning of quarter |
Interest at end of quarter |
|
|---|---|---|---|---|---|
| P47/1223 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P47/1224 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P47/1225 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P47/1226 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P47/1227 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P47/1245 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P47/1246 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| E47/1459 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| Gnaweeda Project |
|||||
| E51/926 | Right to earn 100% subject to royalty (1) | $0\%$ | $0\%$ | ||
| E51/927 | Right to earn 100% subject to royalty (1) | $0\%$ | $0\%$ | ||
| E51/1074 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P51/2514 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P51/2515 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| E51/1027 | Right to earn 100% subject to royalty (1) | $0\%$ | $0\%$ | ||
| Wilga Project |
|||||
| E39/1003 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| Chalice Project |
|||||
| E15/821 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| E15/822 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| E63/873 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4594 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4595 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4596 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4597 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4598 | Tenement Purchase Agreement with Bullion $(1)$ |
$0\%$ | 100% | ||
| P15/4599 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% |
+ See chapter 19 for defined terms.
| 6.2 | Interests in mining tenements acquired or increased |
Nature of interest Tenement reference (note(2)) quarter |
Interest at beginning of |
Interest at end of quarter |
|
|---|---|---|---|---|---|
| P15/4600 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4601 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4602 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4603 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4605 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4606 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4607 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4608 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4609 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4610 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4611 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4612 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4613 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4614 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4619 | Option to purchase 100% subject to royalty $(1)$ |
$0\%$ | 100% | ||
| P15/4634 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4635 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4636 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4671 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P63/1248 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P63/1249 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P63/1250 | Tenement Purchase Agreement with Bullion $(1)$ |
$0\%$ | 100% | ||
| P63/1251 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P63/1252 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P63/1253 | Tenement Purchase Agreement with Bullion $(1)$ |
$0\%$ | 100% | ||
| P63/1257 | Tenement Purchase Agreement with Bullion $(1)$ |
$0\%$ | 100% |
+ See chapter 19 for defined terms.
| 6.2 Interests in mining tenements acquired or increased |
Tenement reference |
Nature of interest (note(2)) |
Interest at beginning of quarter |
Interest at end of quarter |
|
|---|---|---|---|---|---|
| P63/1258 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P63/1259 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P63/1260 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P63/1261 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P63/1262 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P63/1263 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P63/1264 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P63/1265 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P63/1266 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P63/1267 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P63/1268 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P63/1269 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P63/1270 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| M15/786 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| Higginsvil le Project |
|||||
| E15/828 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| E15/829 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| E15/838 | Tenement Purchase Agreement with Bullion $(1)$ |
$0\%$ | 100% | ||
| P15/4615 | Tenement Purchase Agreement with Bullion $(1)$ |
$0\%$ | 100% | ||
| P15/4616 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4617 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4618 | Tenement Purchase Agreement with Bullion $(1)$ |
$0\%$ | 100% | ||
| P15/4620 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4621 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4622 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4624 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% |
+ See chapter 19 for defined terms.
| 6.2 | Interests in | Tenement | Nature of interest | Interest at | Interest |
|---|---|---|---|---|---|
| mining tenements |
reference | (note(2)) | beginning of quarter |
at end of quarter |
|
| acquired or increased |
|||||
| P15/4625 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4626 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4627 | Tenement Purchase Agreement with Bullion $(1)$ |
$0\%$ | 100% | ||
| P15/4628 | Tenement Purchase Agreement with Bullion $(1)$ |
$0\%$ | 100% | ||
| P15/4629 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4630 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4631 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4632 | Tenement Purchase Agreement with Bullion $(1)$ |
$0\%$ | 100% | ||
| P15/4633 | Tenement Purchase Agreement with Bullion $(1)$ |
$0\%$ | 100% | ||
| P63/1271 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P63/1272 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P63/1273 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P63/1274 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P63/1275 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P63/1276 | Tenement Purchase Agreement with Bullion $(1)$ |
$0\%$ | 100% | ||
| P15/4644 | Tenement Purchase Agreement with Bullion $(1)$ |
0% | 100% | ||
| P15/4645 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4646 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4655 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| E15/740 | Tenement Purchase Agreement with Bullion $(1)$ |
$0\%$ | 100% | ||
| E15/860 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4647 | Tenement Purchase Agreement with Bullion (1) |
$0\%$ | 100% | ||
| P15/4648 | Tenement Purchase Agreement with Bullion $(1)$ |
$0\%$ | 100% |
(1) On 18 January 2006, the Company and Bullion Minerals Limited entered into an agreement pursuant to which Bullion agreed to transfer to the Company all of Bullion's legal and equitable interest in the abovementioned tenements, subject to successful completion of the Company's initial public offering.
$+$ See chapter 19 for defined terms.
(2) Issued and quoted securities at end of current quarter
Description includes rate of interest and any redemption or conversion rights together with prices 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 | Preference +securities (description) |
Nil | Nil | Nil | Nil |
| 7.2 | Changes during quarter |
N/A | N/A | N/A | N/A |
| (a) Increases through issues (b) Decreases through returns of capital, buy- backs. |
|||||
| 7.3 | +Ordinary securities |
72,800,000 | 72,800,000 | N/A | N/A |
| 7.4 | Changes during quarter |
||||
| (a) Increases | 72,799,998 | 72,799,998 | N/A | N/A | |
| through issues (b) Decreases through returns of capital. |
Nil | Nil | N/A | N/A | |
| 7.5 | +Convertible | Nil | Nil | N/A | N/A |
| debt securities (description) |
|||||
| 7.6 | Changes during quarter (a) Increases through issues (b) Decreases through securities matured. |
Nil | Nil | N/A | N/A |
| 7.7 | Options | Exercise price | Expiry date | ||
| (description and conversion factor) |
6,075,000 | Nil | \$0.25 | 21 March 2011 | |
| 7.8 | Issued during quarter |
6,075,000 | Nil | \$0.25 | 21 March 2011 |
| 7.9 | Exercised during quarter |
Nil | Nil | N/A | ${\bf N/A}$ |
| 7.10 | Expired during quarter |
Nil | $\overline{Nil}$ | N/A | N/A |
| 7.11 | Debentures (totals only) |
Nil | Nil | ||
| 7.12 | Unsecured notes (totals only) |
Nil | Nil |
$+$ See chapter 19 for defined terms.
Compliance statement
- $\mathbf{1}$ 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 4).
- $\overline{2}$ This statement does give a true and fair view of the matters disclosed.
Sign here:
Date: 28 April 2006
Executive Chairman
Print name:
Andrew Bantock
$+$ See chapter 19 for defined terms.
Notes
- The quarterly report provides a basis for informing the market how the entity's $\mathbf{1}$ 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.
- $\overline{2}$ 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 mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.
- Issued and quoted securities The issue price and amount paid up is not 3 required in items 7.1 and 7.3 for fully paid securities.
- $\overline{4}$ The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.
- $\varsigma$ Accounting Standards ASX will accept, for example, the use of International Accounting 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.
$=$ $=$ $=$ $=$ $=$ $=$
+ See chapter 19 for defined terms.
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