COMET RIDGE LIMITED — Interim / Quarterly Report 2020

Oct 28, 2019

Rule 5.5

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Name of entity

COMET RIDGE LIMITED

ABN47 106 092 577	Quarter ended (“current quarter”)
47 106 092 577	30 September 2019

Consolidated statement of cash flows	Current quarter$A’000	Year to date(3months)$A’000
1.Cash flows related to operating activities
1.11.2(a)exploration & evaluation(b)development(c)production(d)staff costs(e)1.31.41.51.61.71.81.9Net cash from / (used in) operating activitiesReceipts from customersPayments for:Dividends received (see note 3)administration and corporate costs (includes GST paid ontransaction costs for financing activities and funds to bereimbursed by JV partners)Interest receivedInterest and other costs of finance paidIncome taxes paidResearch and development refundsOther - JV recoveries	-(2,146)--(427)(593)-43---(460)	-(2,146)--(427)(593)-43---(460)
	(3,584)	(3,584)
1.2 (e) Administration and corporate costs for the September quarter was higher due to the cost of preparing bids on the QueenslandGovernment Tender for Authorities to Prospect, of which the second round closed in August 2019.
2.Cash flows related to investing activities
2.1(a)Property, plant and equipment(b)tenements (see item 10)(c)investments(d)other non-current assets2.2(a)Property, plant and equipment(b)tenements (see item 10)(c)investments(d)other non-current assets2.32.4Dividends received (see note 3)2.52.6Cash flows from loans to other entitiesOther (Restricted cash term deposits)Net cash from/ (used in) investing activitiesPayments to acquire:Proceeds from the disposal of:	(1)-----------	(1)----------
	(1)	(1)
3.Cash flows related to financing activities
3.13.23.33.43.53.63.7Proceeds from exercise of share optionsTransaction costs related to issues of shares, convertible notes or optionsProceeds from borrowingsRepayment of borrowingsTransaction costs related to loans and borrowingsProceeds from issues of sharesProceeds from sale of convertible notes	-------	-------

Consolidated statement of cash flows	Consolidated statement of cash flows	Current quarter	Year to date	Year to date
			(3months)
		$A’000	$A’000
3.8	Dividends paid	-		-
3.9	Other (provide details if material)	-		-
3.10	Net cash from/ (used in) financing activities	-		-
4.	Net increase/ (decrease) in cash and cash equivalents for the period
4.1	Cash and cash equivalents at beginning of quarter	12 998	12	998
4.2	Net cash from / (used in) operating activities (item 1.9 above)	(3,584)	(3,584)
4.3	Net cash from / (used in) investing activities (item 2.6 above)	(1)		(1)
4.4	Net cash from / (used in) financing activities (item 3.10 above)	-		-
4.5	Effect of movement in exchange rates on cash held	-		-
4.6	Cash and cash equivalents at end ofperiod	9 413	9	413
5.	Reconciliation of cash and cash equivalents	Current quarter	Previous quarter
		$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	9 413	12	998
5.2	Call Deposits	-		-
5.3	Bank overdrafts	-		-
5.4	Other (provide details)	-		-
5.5	Cash and cash equivalents at end of quarter (should equal item 4.6
	above)	9 413	12	998
		Current	quarter
6.	Payments to directors of the entity and their associates	$A’000
6.1	Aggregate amount of payments to the parties included in item 1.2			193
6.2	Aggregate amount of cash flow from loans to these parties included in item 2.3			-
6.3	Explanation necessary for an understanding of the transactions in items 6.1 and 6.2
	Directors' fees

• Current quarter

• 7. Payments to related entities of the entity and their associates $A’000 7.1 Aggregate amount of payments to the 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 Explanation necessary for an understanding of the transactions in items 7.1 and 7.2

8. Financing facilities available Add notes as necessary for an understanding of the position.

• 8.1 Loan facilities

• 8.2 Credit standby arrangements

• 8.3 Other (please specify)

	Total facility amount	Amount drawn at
	at quarter end	quarter end
	$A’000	$A’000

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 nextquarter	9.Estimated cash outflows for nextquarter	9.Estimated cash outflows for nextquarter	$A’000	$A’000
9.19.29.39.49.59.69.7Other (provide details if material)Total estimated cash outflowsProductionStaff CostsAdministration and corporate costsExploration and evaluationDevelopment			(3,500)
			(430)
			(400)
			-
			(4,330)
10.Changes in tenements (items 2.1(b) and 2.2(b)above)	Tenementreference andlocation	Nature ofinterest	Interest at beginningof quarter	Interest at end ofquarter
10.1Interests in mining tenements and petroleumtenements lapsed, relinquished or reduced
10.2Interests in mining tenements and petroleumtenements 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.

Sign here : _________________________________ Date: 29/10/2019 (Director/ Company secretary)

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.