CLASSIC MINERALS LTD — Interim / Quarterly Report 2016

Oct 29, 2015

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, 01/05/2013

Name of entity

Classic Minerals Limited

ABN

77 119 484 016

Quarter ended ("current quarter") 30 September 2015

Consolidated statement of cash flows

		Current quarter	Year to date
Cash flows related to operating activities		\$A'ooo	(3 months)
			\$A'ooo
1.1	Receipts from debtors
1.2	Payments for (a) exploration & evaluation	(280)	(280)
	(b) development
	(c) production
	(d) administration	(120)	(120)
1.3	Dividends received
1.4	Interest and other items of a similar nature
	received
1.5	Interest and other costs of finance paid	(154)	(154)
1.6	Income taxes paid
1.7	Other (provide details if material)
	Net Operating Cash Flows	(554)
			(554)
	Cash flows related to investing activities
1.8	Payment for purchases of: (a) prospects
	(b) equity investments
	(c) other fixed assets	(3)	(3)
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 (provide details if material)	(11)	$\rm (11)$
		(14)	(14)
	Net investing cash flows
1.13	Total operating and investing cash flows	(568)	(568)
	(carried forward)

⁺ See chapter 19 for defined terms.

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

1.13	Total operating and investing cash flows (brought forward)	(568)	(568)
1.14 1.15 1.15.1 1.16 1.17 1.18 1.19	Cash flows related to financing activities Proceeds from the issue of options, etc. Proceeds from the issue of shares Proceeds from the issue of Convertible Note Proceeds from borrowings Repayment of borrowings Dividends paid Other (Expenses relating to Capital Raisings)	20 1,000 108 (366)	20 1,000 108 (366)
	Net financing cash flows	762	762
	Net increase (decrease) in cash held	194	194
1.20 1.21 1.22	Cash at beginning of quarter/year to date Exchange rate adjustments to item 1.20 Cash at end of quarter	40 $\qquad \qquad$ 234	40 234

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

		Current quarter A'000
1.23	Aggregate amount of payments to the parties included in item 1.2	102
1.24	Aggregate amount of loans to the parties included in item 1.10	$\overline{\phantom{a}}$

Explanation necessary for an understanding of the transactions $1.25$

1.23 includes fees and salaries for executive and non-executive directors (\$102,966)*. *: this amount includes salaries of \$65,676 (net) which had been deferred in the 2014/15 financial year.

Non-cash financing and investing activities

Details of financing and investing transactions which have had a material effect on $2.1$ consolidated assets and liabilities but did not involve cash flows

Details of outlays made by other entities to establish or increase their share in projects in $2.2$ which the reporting entity has an interest

None

⁺ See chapter 19 for defined terms.

Financing facilities available

Add notes as necessary for an understanding of the position.

		Amount available $A'$ 000	Amount used $A'$ 000
3.1	Loan facilities	Ni	Nil
3.2	Credit standby arrangements	Ni	Nil

Estimated cash outflows for next quarter

		$A'$ 000
4.1	Exploration and evaluation	70
4.2	Development
4.3	Production
4.4	Administration	50
	Total	120

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	234	40
5.2	Deposits at call
5.3	Bank overdraft
5.4	Other (provide details)
	Total: cash at end of quarter (item 1.22)	234	40

⁺ See chapter 19 for defined terms.

Changes in interests in mining tenements and petroleum tenements

		Tenement reference and location	Nature of interest (note(2))	Interest at beginning of quarter	Interest at end of quarter
6.1	Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed	Nil		Nil	Nil
6.2	Interests in mining tenements and petroleum tenements acquired or increased	Nil		Nil	Nil

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)
7.2	Changes during quarter (a) Increases through issues (b) Decreases through returns
	of capital, buy- backs, redemptions
7.3	+Ordinary securities	307,270,465	307,270,465	\$0.20
7.4	Changes during quarter (a) Increases through issues	5,000,000	5,000,000	\$0.004
	(b) Decreases through returns of capital, buy- backs (c) Escrow release

⁺ See chapter 19 for defined terms.

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

				\$0.03
7.5	+Convertible	\$1,000,000
	debt
	securities
	(description)
7.6	Changes during
	quarter
	(a) Increases	\$1,000,000		\$0.03
	through issues
	(b) Decreases
	through
	securities
	matured,
	converted
7.7	Options		$\overline{\phantom{0}}$
	(description and
	conversion
	factor)
7.8	Issued during	-	$\overline{\phantom{a}}$
	quarter
7.9	Exercised	-	$\overline{\phantom{a}}$
	during quarter
7.10	Expired during
	quarter
7.11	Debentures
	(totals only)
7.12	Unsecured
	notes (totals
	only)

Compliance statement

• This statement has been prepared under accounting policies which comply with $\mathbf 1$ accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 5).
• This statement does /does not* (delete one) give a true and fair view of the matters disclosed.

...................................... Sign here: (Director)

Print name:

$\overline{2}$

....................................... Kent Hunter

⁺ 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.
• The "Nature of interest" (items 6.1 and 6.2) includes options in respect of $\overline{2}$ interests in mining tenements and petroleum 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 or petroleum 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 $\overline{\mathbf{3}}$ required in items 7.1 and 7.3 for fully paid securities.
• The definitions in, and provisions of, AASB 6: Exploration for and Evaluation of $\overline{4}$ Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.
• Accounting Standards ASX will accept, for example, the use of International 5 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.

$\cdots \cdots \cdots \cdots \cdots \cdots \cdots$

⁺ See chapter 19 for defined terms.