COMET RIDGE LIMITED — Interim / Quarterly Report 2018

Apr 26, 2018

Rule 5.5

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Name of entity

Comet Ridge Limited

ABN		Quarter ended (“current quarter”)	Quarter ended (“current quarter”)
	47 106 092 577	31 March 2018
Consolidated statement of cash flows		Current quarter	Year to date (9 months)
		$A’000	$A’000
1.	Cash flows from operating activities
1.1	Receipts from customers
1.2	Payments for
	(a) exploration & evaluation	(1,443)	(5,119)
	(b) development	-		-
	(c) production	-		-
	(d) staff costs	(93)	(467)
	(e) administration and corporate costs	(187)	(905)
	(includes GST paid on transaction
	costs for financing activities)
1.3	Dividends received (see note 3)	-		-
1.4	Interest received	7		25
1.5	Interest and other costs of finance paid	-		-
1.6	Income taxes paid	-		-
1.7	Research and development refunds	-		-
1.8	Other - JV recoveries	1 470	1	470
1.9	Net cash from / (used in) operating	(246)	(4,996)
	activities
2.	Cash flows from investing activities
2.1	Payments to acquire:
	(a) property, plant and equipment	-		-
	(b) tenements (see item 10)	-		-
	(c) investments	-		-

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 (9 months)
		$A’000	$A’000
	(d) other non-current assets	-		-
2.2	Proceeds from the disposal of:
	(a) property, plant and equipment	-		(2)
	(b) tenements (see item 10)	-		-
	(c) investments	-		-
	(d) other non-current assets	-		-
2.3	Cash flows from loans to other entities	-		-
2.4	Dividends received (see note 3)	-		-
2.5	Other (restricted cash term deposits)	-		(62)
2.6	Net cash from / (used in) investing	-		(64)
	activities
3.	Cash flows from financing activities
3.1	Proceeds from issues of shares *correction
	from previous quarter	(50)	13	109
3.2	Proceeds from issue of convertible notes	-		-
3.3	Proceeds from exercise of share options	-		-
3.4	Transaction costs related to issues of	(87)	(636)
	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	(137)	12	473
	activities
4.	Net increase / (decrease) in cash and
	cash equivalents for the period
4.1	Cash and cash equivalents at beginning of	13 835	6	039
	period
4.2	Net cash from / (used in) operating	(246)	(4,996)
	activities (item 1.9 above)

• See chapter 19 for defined terms. Appendix 5B Page 2

31/03/2018

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 (9 months)
		$A’000	$A’000
4.3	Net cash from / (used in) investing			(64)
	activities (item 2.6 above)
4.4	Net cash from / (used in) financing	(137)	12	473
	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	13 452	13	452
	period
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	13 452	13 835
5.2	Call deposits	-		-
5.3	Bank overdrafts	-		-
5.4	Other (provide details)	-		-
5.5	Cash and cash equivalents at end of	13 452	13 835
	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			221
	item 1.2
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
Directors Fees

• See chapter 19 for defined terms. 31/03/2018

Appendix 5B Page 3

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

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
7.2	Aggregate amount of cash flow from loans to these parties
	included in item 2.3
7.3	Include below any explanation necessary to understand the transactions included in
	items 7.1 and 7.2
8.	Financing facilities available Total facility amount	Amount drawn at
	Add notes as necessary for an understanding of the at quarter end	quarter end
	position $A’000	$A’000
8.1	Loan facilities
8.2	Credit standby arrangements
8.3	Other (please specify)
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.

9.	Estimated cash outflows for next quarter	$A’000
9.1	Exploration and evaluation		1,197
9.2	Development		-
9.3	Production		-
9.4	Staff costs		146
9.5	Administration and corporate costs - includes one off		935
	success fee for transaction
9.6	Other (provide details if material)		-
9.7	Total estimated cash outflows		2,278

• See chapter 19 for defined terms. Appendix 5B Page 4

31/03/2018

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

10.	Changes in	Tenement	Nature of interest	Interest	Interest
	tenements	reference		at	at end of
	(items 2.1(b) and	and		beginning	quarter
	2.2(b) above)	location		of quarter
10.1	Interests in mining
	tenements and
	petroleum tenements
	lapsed, relinquished
	or reduced
10.2	Interests in mining
	tenements and
	petroleum tenements
	acquired or increased

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.

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Sign here: ............................................................ ( ~~Director/~~ Company secretary)

Date: 27 April 2018..............

Print name: Stephen Rodgers.

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. 31/03/2018

Appendix 5B Page 5