COMET RIDGE LIMITED — Interim / Quarterly Report 2019

Jan 29, 2019

Rule 5.5

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Name of entity COMET RIDGE LIMITED AB Quarter ended (“current quarter”) 47 106 092 577 31 December 2018

Consolidated statement of cash flows	Current quarter $A’000	Year to date (6 months) $A’000
1. Cash flows related to operating
1.1 1.2 (a) exploration & evaluation (b) development (c) production (d) staff costs (e) 1.3 1.4 1.5 1.6 1.7 1.8 1.9 Net cash from / (used in) operating activities Interest and other costs of finance paid Income taxes paid Research and development refunds Other - JV recoveries Receipts from customers Payments for: administration and corporate costs (includes GST paid on transaction costs for financing activities and funds to be reimbursed by JV partners) Dividends received (see note 3) Interest received	- (328) - - (399) (390) - 59 - - - (489)	- (3,238) - - (777) (494) - 82 - - - (474)
	(1,547)	(4,901)
Timing of receipt of invoices from key suppliers resulted in a large amount of exploration and evaulation payments not being incurred during the December 2018 quarter as estimated. As a result the estimate cash expenditure for the March 2019 quarter has been revised to include these payments, see 9.1 below.
2. Cash flows related to investing
2.1 (a) Property, plant and equipment (b) tenements (see item 10) (c) investments (d) other non-current assets 2.2 (a) Property, plant and equipment (b) tenements (see item 10) (c) investments (d) other non-current assets 2.3 2.4 Dividends received (see note 3) 2.5 2.6 Payments to acquire: Proceeds from the disposal of: Cash flows from loans to other entities Other (Restricted cash term deposits) Net cash from/ (used in) investing activities	(39) - - - - - - - - - - -	(39) - - - - - - - - - -
	(39)	(39)
3. Cash flows related to financing
3.1 3.2 3.3 3.4 3.5 3.6 3.7 Transaction costs related to loans and borrowings Proceeds from issues of shares Proceeds from sale of convertible notes Proceeds from exercise of share options Transaction costs related to issues of shares, convertible notes or options Proceeds from borrowings Repayment of borrowings	- - - - - - -	17 417 - - (748) - - -

Consolidated statement of cash flows	Consolidated statement of cash flows	Current quarter $A’000	Year to date (6 months) $A’000
3.8 3.9 3.10	Dividends paid Other (provide details if material) Net cash from/ (used in) financing activities	- -	- -
		-	16 669
4.	Net increase/ (decrease) in cash and cash equivalents for the period
4.1 4.2 4.3 4.4 4.5 4.6	Cash and cash equivalents at beginning of quarter Net cash from / (used in) operating activities (item 1.9 above) Net cash from / (used in) investing activities (item 2.6 above) Net cash from / (used in) financing activities (item 3.10 above) Effect of movement in exchange rates on cash held Cash and cash equivalents at end ofperiod	24 862 (1,547) (39) - -	11 547 (4,901) (39) 16 669 -
		23 276	23 276
5.	Reconciliation of cash and cash equivalents	Current quarter $A’000	Previous quarter $A’000
5.1 5.2 5.3 5.4 at the accou	end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the nts. Bank balances Call Deposits Bank overdrafts Other (provide details)
		23 276	24 862
		-	-
		-	-
		-	-
5.5	Cash and cash equivalents at end of quarter (should equal item 4.6 above)	23 276	24 862
6. 6.1 6.2 6.3 7. 7.1 7.2	Explanation necessary for an understanding of the transactions in items 6.1 and 6.2 Payments to directors of the entity and their associates Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of cash flow from loans to these parties included in item 2.3
		Current quarter $A’000
		135
		-
	Directors' fees
	Aggregate amount of cash flow from loans to these parties included in item 2.3 Payments to related entities of the entity and their associates Aggregate amount of payments to the parties included in item 1.2
		Current quarter $A’000
		-

• 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 at quarter end $A’000	Amount drawn at quarter end $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
9.1 9.2 9.3 9.4 9.5 9.6 9.7 Total estimated cash outflows Staff Costs Administration and corporate costs Other (provide details if material) Exploration and evaluation Development Production			6 000
			-
			-
			400
			350
			-
			6 750
10. Changes in tenements (items 2.1(b) and 2.2(b) above)	Tenement reference and location	Nature of interest	Interest at beginning of quarter	Interest at end of quarter
10.1 Interests in mining tenements and petroleum tenements lapsed, relinquished or reduced	ATP743, ATP 744 & ATP 1015	A 15% interest in the Deeps Area (Deeps) within each of the tenements transferred to Vintage Energy Limited by way of Farmin, The Deeps being defined as including all strata commencing underneath the Permian coals (Betts Creek Beds or Aramac coals).	100% (Deeps)	85% (Deeps)
10.2 Interests in mining tenements and petroleum tenements acquired or
~~i~~ ~~d~~

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 : ____ Date: 30-01-19 ~~(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.