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CORE LITHIUM LTD — Interim / Quarterly Report 2016
Oct 29, 2015
64737_rns_2015-10-29_03f24d45-4ae5-46f8-b84d-1e6d7b2c7ac4.pdf
Interim / Quarterly Report
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30th October 2015
Centralised Company Announcements Platform Australian Securities Exchange 10[th] floor, 20 Bond Street Sydney NSW 2000
QUARTERLY ACTIVITIES AND CASHFLOW REPORT 30 SEPTEMBER 2015
Please find attached the Quarterly Activities and Appendix 5B Quarterly Cash Flow Reports for the Quarter ended 30 September 2015.
Yours faithfully
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Stephen Biggins Managing Director
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A 26 Gray Court, Adelaide SA 5000 | T (08) 7324 2987 | E [email protected] www.coreexploration.com.au
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ASX Release
30 October 2015
CORE EXPLORATION LTD
26 Gray Court Adelaide SA 5000 (08) 7324 2987
CONTACT:
Stephen Biggins Managing Director
Jarek Kopias Company Secretary
E‐MAIL: [email protected]
WEBSITE: www.coreexploration.com.au
Directors:
Greg English Non‐Executive Chairman
Stephen Biggins Managing Director
Heath Hellewell
Non‐executive Director
Issued Capital: 174,664,295 Ordinary Shares 31,400,000 Unlisted Options 3,925,000 Unlisted Performance Rights
ASX Code: CXO
QUARTERLY ACTIVITIES REPORT FOR THREE MONTHS ENDED 30 SEPTEMBER 2015
Highlights
During the period, Core commenced drilling at the Yerelina Zinc Project in SA.
Core also executed a MOU to establish a $2 million joint venture on the Blueys project in the NT with and overseas partner.
Overview
The Board of Core Exploration Ltd (“Core”) is pleased to present its Quarterly activities report for the Period ended 30 September 2015 .
During the reporting period, Core commenced drilling on the Yerelina Zinc Project in South Australia and finalised preparations for drilling at Jervois Domain the Northern Territory.
Diamond drilling at Yerelina has intersected a mineralised breccia zone over a 9.8m section at the Great Gladstone Prospect and a broader 30metre wide intermittent breccia zone at Big Hill Prospect. The mineralised zones intersected are located down dip of outcropping mineralised gossans. Surface channel sampling of these gossans also returned significant zinc, lead and silver assays during the period. The gossans are interpreted as the mineralised surface expression of a fault zone thought to be up to 1.5‐3km km long.
Drilling on Core’s Jervois Domain Project in NT commenced after the end of the quarter and comprised traverses of shallow RAB/RC drill holes testing a 15km strike length within the prospective Big‐J zone and specific high priority geophysical targets.
A 26 Gray Court, Adelaide SA 5000 | T (08) 7324 2987 | E [email protected]
www.coreexploration.com.au
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Project Activity
South Australia : Yerelina Project, EL 5015 (CXO 100%)
Diamond drilling during the reporting period has successfully intersected multiple mineralised breccia zones within Core Exploration Ltd’s Yerelina Zinc Project, which covers a total area of approximately 1,000km[2] in northern South Australia.
Core’s diamond drilling program at Yerelina comprised a total of five angled diamond core holes totalling approximately 1,037m at Great Gladstone, Great Northern and Big Hill prospects.
The drill core from these recently completed drillholes is currently being cut, sampled and submitted for laboratory assay. Assay results are expected in late November.
Great Gladstone Prospect
The 9.8m section of mineralised breccias and veining was intersected by diamond drill hole YRDH003 from a depth of 144m downhole.
Base metal sulphide mineralisation was observed within an intense breccia zone. The breccia consists of rotated slate clasts in a predominantly siderite‐carbonate‐quartz matrix with a polyphase banded breccia/vein overprinting of sphalerite and silica along with ribbons of galena mineralisation (Figures 1 and 2).
The mineralised zone intersected in YRDH003 is located down dip of outcropping mineralised gossans. Surface channel sampling of these gossans at Great Gladstone returned significant zinc, lead and silver assays. The gossans are interpreted as the mineralised surface expression of a fault zone thought to be up to 1.5km long (Figure 3 & 8).
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Figure 1. YRDH003 150.2m ‐ Mineralised Breccia (slate, siderite‐calcite‐quartz‐sphalerite‐galena)
A 26 Gray Court, Adelaide SA 5000 | T (08) 7324 2987 | E [email protected]
www.coreexploration.com.au
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Figure 2. YRDH003 153.4m – Mineralised polyphase vein with sphalerite and siderite
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Figure 3. Drill hole trace and interpreted geological cross section, YRDH003 Great Gladstone Prospect, Yerelina Project South Australia.
A 26 Gray Court, Adelaide SA 5000 | T (08) 7324 2987 | E [email protected]
www.coreexploration.com.au
Big Hill Prospect
Diamond drilling has intersected a broad 30m wide zone of intermittent breccia and veining at the Big Hill Prospect.
The mineralised zone intersected in YRDH005 is located down dip of a 10m wide outcropping mineralised gossans. Surface channel sampling of these gossans have returned significant zinc, lead and silver assays.
Zinc and lead mineralisation is interpreted be hosted in carbonate‐quartz‐goethite veining and breccias as indicated by leached sulphides (goethitic boxworks and voids) at various intervals within a 30m intersection (approx. true width) from 30m to 60m depth downhole (Figures 4‐6).
The Big Hill Gossans are interpreted as the mineralised surface expression of a fault zone thought to be up to 3,000m long at Big Hill and are also considerably thicker than that at Great Gladstone prospect located ~5km further west (refer ASX announcement 12th September 2015) (Figure 7).
The host rocks at Big Hill have more sandy, carbonate‐rich interbeds showing stronger MVT‐ type zinc lead mineralisation style affinities with shallow, platform carbonate rich facies. Also the degree of oxidation, veining and structural complexity is significantly higher than at Great Gladstone.
Numerous fault zones and veining, with alteration selvedging and discrete zones of intense brecciation were identified, but strong weathering has leached much of the sulphide minerals leaving goethite stained vuggy voids in breccias and fault zones and haematite (marcasite) in veins interpreted after sulphides.
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Figure 4 YRDH005 Fault and mineralised breccia at 45.7‐46.7m
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Figure 5. YRDH005 60.5‐61m Brecciated slate with calcite/quartz matrix and black puggy material (after sulphide).
A 26 Gray Court, Adelaide SA 5000 | T (08) 7324 2987 | E [email protected] www.coreexploration.com.au
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Figure 6. YRDDD005 44.2‐48.1 Veining, faulting and brecciation within carbonate rich slate.
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Figure 7. Drill hole trace and interpreted geological cross section, YRDH005 Big Hill Prospect, Yerelina Project South Australia.
A 26 Gray Court, Adelaide SA 5000 | T (08) 7324 2987 | E [email protected] www.coreexploration.com.au
Yerelina Zinc Project Background
The Adelaide Geosyncline has long been considered prospective for sediment hosted base metal mineralisation styles (e.g. MVT). CXO believes that the mineralisation at Yerelina may represent a surface exposure of a discordant part of one of these large regional mineralisation styles (Figure 8).
High‐grade silver‐lead‐zinc mineralisation within Tapley Hill Formation was historically mined 100 years ago at Yerelina in the northern Flinders Ranges. Whilst there remains clear evidence of numerous historical workings and outcropping mineralisation that can be mapped in repetitious, kilometre long vein sets over a very broad area, no systematic modern exploration has been undertaken, and prior to Core’s recent drilling, the area has never been drill tested.
Core’s analysis of modern satellite imagery and the Company’s detailed heli‐borne magnetic and radiometric survey data have identified that these workings are hosted by a large‐scale system of repeated north/south regional structures. The Company identified that potential gossanous outcrop and host structures could be seen in the landscape to both the north and the south of the historical workings and multiple potential repeats of the known mineralised faults have been identified as magnetic lows. The Company has located and sampled 23 historical mining areas along six separate mineralised faults to date.
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Figure 8. Magnetic image, surface mineralised structures and drill targets in plan view with block model of conceptual geological targets (depth not to scale).
A 26 Gray Court, Adelaide SA 5000 | T (08) 7324 2987 | E [email protected]
www.coreexploration.com.au
South Australia : Fitton Uranium Project EL 4569, EL 5192, EL 5375, ELA 2015/44, ELA 2015/125
(CXO 100%)
Core’s Fitton Uranium Project is located in a world‐class, low‐risk uranium mining jurisdiction in South Australia.
Core noted with interest $75 million offer by Quasar for Alliance Resources Ltd’s (ASX:AGS) 25% interest in the Four Mile uranium project in South Australia.
Core has previously made an outstanding discovery of high grade uranium on the 100% owned Fitton Project adjacent to the Four Mile Uranium Mine. Core’s exploration work and drilling to date at Fitton has confirmed that uranium mineralisation:
-
outcrops (up to 0.30% U3O8 at surface)
-
high grade at depth (up to 4m @ 0.31% U3O8)
-
substantial intersections (60m @ 0.05% U3O8)
-
open below 150m depth in drilling
-
close to major unconformity
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Figure 9. Fitton Project location of tenure and major uranium deposits
A 26 Gray Court, Adelaide SA 5000 | T (08) 7324 2987 | E [email protected] www.coreexploration.com.au
Northern Territory
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Figure 10. Core’s Albarta and Jervois Domain Project, prospects and tenements overlain on regional geology, NT
Jervois Project, EL’s 29579, 29580, 29581 & 29669 NT
(CXO 100%)
Core’s maiden‐drilling program on the Jervois Domain Project commenced in early October testing key targets within a 15km strike length of the Big‐J target zone.
Core’s maiden drilling program consisted of traverses of shallow RAB and RC vertical holes over prospective target zones and specific high priority geophysical targets. Specific targets A1 to G1 have been modelled on a series of sections (A‐G) along the strike length of the prospective Big‐J curve target zone (Figure –11 ‐ 12).
Much of the target geology is buried under a shallow cover of sand and soil and the shallow drill traverses will enable the Company to test the large scale prospectivity of the 15km strike length of the Big‐J feature.
Core is applying similar geophysical tools to those used to characterise and define the nearby Jervois copper and base‐metal mineralisation by KGL Resources and Rox Resources in the same host Bonya Metamorphics geology (Figure 11).
Core and project research partner CSIRO’s analysis of the Company’s geophysical surveys has confirmed multiple magnetic, conductive and chargeable features at large prospect scale within the Big‐J target zone. The geophysical signatures and model fits well with Sedex/VHMS model proposed for the mineralisation at Jervois by recent NTGS research.
A 26 Gray Court, Adelaide SA 5000 | T (08) 7324 2987 | E [email protected] www.coreexploration.com.au
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Figure 11. J‐curve (KGL) and Big‐J (CXO) target zone and interpreted geology, Jervois Area, NT.
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Figure 12. Big‐J interpreted geology and geophysical targets, on Core’s EL 29258, Jervois Domain.
A 26 Gray Court, Adelaide SA 5000 | T (08) 7324 2987 | E [email protected] www.coreexploration.com.au
Inkheart ‐ Blueys Project, EL 28136 NT
(CXO 100% ‐ MOU for JV)
During the Quarter Core entered into a non‐binding Memorandum of Understanding (MOU) with an offshore organisation. Under the MOU the parties agree to negotiate the final terms of a Joint Venture to advance Core’s Inkheart and Blueys Project in the Northern Territory.
Subject to due diligence and other conditions, the MOU outlines the key terms to negotiate a future Joint Venture between the two parties. The MOU summarises key terms by which the incoming party can earn up to an 80% interest in Core’s EL 28136 by sole funding exploration expenditure within 2 years.
If the conditions contemplated by the MOU are met then it is expected that the Joint Venture would be in place toward the end of 2015.
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Figure 13. Phase 1 drilling results and silver in soils, Blueys and Inkheart Prospects, NT
A 26 Gray Court, Adelaide SA 5000 | T (08) 7324 2987 | E [email protected] www.coreexploration.com.au
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Figure 14. Phase 1 and 2 drillhole locations and significant assays overlain on geology, Inkheart Prospect, NT.
A 26 Gray Court, Adelaide SA 5000 | T (08) 7324 2987 | E [email protected] www.coreexploration.com.au
Corporate
CASH POSITION
Core had $0.65 million cash on hand at the end of the September Quarter.
Exploration and evaluation expenditure by the Company during the September 2015 Quarter was $310,000.
CHANGE OF TENEMENT INTEREST
Northern Territory
The company acquired a new tenement during the Quarter, EL 30669 “Ross River” 55 blocks. During the Quarter four (4) tenements were surrendered; EL29687 “Laughlan”, EL29688 “Ambalindum”, EL29280 “Woolgathering” and EL28546 “Star Creek”.
SHARE CAPITAL CHANGES
During the Quarter, the Company completed a share purchase plan at 2.5 cents per share (SPP) raising $600,000, including underwriting, and issued 24,000,008 shares. In addition to the shares, underwriters of the SPP were issued 12,000,000 unlisted options with an exercise price of 5.00 cents and expiry of 31 August 2017. A further 178,000 shares were issued in settlement of an invoice.
On 27 October 2015 the Company announced a 1 for 4 non‐renounceable Option issue whereby eligible shareholders can subscribe for options with an exercise price of $0.05 and an expiry date of 31 August 2017. The rights issue is scheduled to close on 18 Nov 2015.
Since the end of the quarter, 800,000 employee performance rights, with various KPI based vesting criteria, lapsed and 800,000 new performance rights with an expiry of 16 October 2016 were issued with KPI based vesting criteria. A further 1,000,000 unlisted options were issued to a director following shareholder approval at the 2015 AGM. The options are subject to a share price KPI and are exercisable at 10 cents by 31 January 2017.
A summary of movements and balances of equity securities between 1 July 2015 and this report are listed below (all equity movements, except the lapse and issue of performance rights, occurred during the Quarter):
| Ordinary Shares |
Unlisted options |
Unlisted Performance rights |
|
|---|---|---|---|
| On issue at start ofQuarter | 150,486,287 | 18,400,000 | 3,925,000 |
| Issue of unlisted options (SPP underwriting) |
‐ | 12,000,000 | ‐ |
| Share purchase plan (including underwriting) |
24,000,008 | ‐ | ‐ |
| Settlement of invoice | 178,000 | ‐ | ‐ |
| Lapse ofperformance rights | ‐ | ‐ | (800,000) |
| Issue ofperformance rights | ‐ | ‐ | 800,000 |
| Issue of unlisted options | ‐ | 1,000,000 | ‐ |
| Total securities on issue at the date of this report |
174,664,295 | 31,400,000 | 3,925,000 |
A 26 Gray Court, Adelaide SA 5000 | T (08) 7324 2987 | E [email protected]
www.coreexploration.com.au
Proposed Activities Next Quarter
South Australia
Yerelina Zinc
The diamond‐drilling program at Yerelina was completed in early October. The drill core has been transported to Adelaide for core‐cutting and sampling with assay results anticipated in early November.
During the December Quarter the geological model and the potential for MVT‐style base metal mineralisation will be refined.
Fitton Uranium
Geological mapping and systematic surface sampling at Fitton will recommence with the aims of assessing the potential for Fitton to be related to an unconformity‐style uranium system and to assist targeting for a future diamond drilling program.
Northern Territory
Jervois
The RAB/RC drilling program over the prospective Big‐J zone at Jervois was completed in early October. Assay results and a refined geological model are anticipated in mid to late November.
Blueys and Inkheart Silver Project
Core will progress the potential JV with an offshore organisation to co‐fund exploration including the proposed diamond drilling program at Inkheart/Blueys. Full drilling approvals are anticipated during this Quarter.
A 26 Gray Court, Adelaide SA 5000 | T (08) 7324 2987 | E [email protected]
www.coreexploration.com.au
Tenement Table
| Tenement number | Tenement name | Beneficial Interest at the end of the Quarter |
Changes during Quarter |
|---|---|---|---|
| South Australia | |||
| EL 4569 | Fitton | 100% | None |
| EL 4816 | Horse Well | 100% | None |
| EL 4906 | Roxby Downs | 100% | None |
| EL 5015 | Yerelina | 100% | None |
| EL 5192 | Calcutta | 100% | None |
| EL 5320 | Yorke Peninsula | 100% | None |
| EL 5375 | Billy Springs | 100% | None |
| Northern Territory | |||
| EL27369 | Mt Russell | 100% | None |
| EL27709 | Pattersons | 100% | None |
| EL28029 | White Range East | 100% | None |
| EL28136 | Blueys | 100% | None |
| EL28546 | Star Creek | 0% | Surrendered 13/9/15 |
| EL28852 | Gough Dam | 100% | None |
| EL28853 | No 1 Tank | 100% | None |
| EL28854 | Mt Johnstone | 100% | None |
| EL28940 | Mordor | 100% | None |
| EL29280 | Woolgathering | 0% | Surrendered 10/8/15 |
| EL29304 | Brumby Dam | 100% | None |
| EL29347 | Yambla | 100% | None |
| EL29389 | Mt George | 100% | None |
| EL29512 | Daicos | 100% | None |
| EL29514 | Mt Emma | 100% | None |
| EL29579 | Jervois | 100% | None |
| EL29580 | Jervois | 100% | None |
| EL29581 | Jervois | 100% | None |
| EL29667 | Riddoch | 100% | None |
| EL29668 | Riddoch | 100% | None |
| EL29669 | Jervois | 100% | None |
| EL29687 | Laughlen | 0% | Surrendered 28/7/15 |
| EL29688 | Riddoch | 0% | Surrendered 28/7/15 |
| EL29689 | Riddoch | 100% | None |
| EL30669 | Ross River | 100% | Granted 10/8/15 |
A 26 Gray Court, Adelaide SA 5000 | T (08) 7324 2987 | E [email protected] www.coreexploration.com.au
The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Stephen Biggins (BSc(Hons)Geol, MBA) as Managing Director of Core Exploration Ltd who is a member of the Australasian Institute of Mining and Metallurgy and is bound by and follows the Institute’s codes and recommended practices. He has sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration and to the activities being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr. Biggins consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. This report also references information previously released by KGL Resources Ltd on 21/07/2014 “Further Jervois results inc. 11.55% copper and 55.7g/t silver” and Rox Resources Ltd on 20/10/2014 “Exceptional Copper Assays From Bonya Mine Drilling”.
This report also includes exploration information that was prepared and first disclosed by Core under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported. The information in all previous announcements has been compiled by Mr Stephen Biggins as the Competent Person and who provided his consent for all previous announcements. The information that was reported in announcements previously released under JORC Code 2004 are announcements dated 13/05/2012 titled Thick and High Grade Uranium Intersections, Fitton Project, SA. and 19/03/2013 titled “High Grade Lead‐Zinc‐Silver Assays from S.A. Project”
The report includes results that have previously been released under JORC 2012 by Core. The Company is not aware of any new information that materially affects the information included in this announcement: 07/09/2015 Core’s diamond drilling underway on Yerelina Zinc Project 24/08/2015 Co‐funded diamond drilling to start next week on Yerelina Zinc Project 19/08/2015 MOU signed to establish JV at Inkheart and Blueys, NT 10/08/2015 Core’s Jervois Domain drilling ready to start 16/07/2015 Core funded to drill Jervois and Yerelina Projects 07/07/2015 Large lead and zinc anomaly targeted at Yerelina 03/07/2015 Significant uranium transaction bordering CXO Fitton Project
A 26 Gray Court, Adelaide SA 5000 | T (08) 7324 2987 | E [email protected] www.coreexploration.com.au
Appendix 5B
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 | Name of entity | |||
|---|---|---|---|---|
| Core Exploration Ltd | ||||
| ABN Quarter ended (“current Quarter”) 80 146 287 809 30 September 2015 Consolidated statement of cash flows |
Quarter ended (“current Quarter”) | |||
| 30 September 2015 | ||||
| Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for: (a) exploration and evaluation (b) development (c) production (d) administration 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes received – R&D refund 1.7 Other (provide details if material) Net Operating Cash Flows |
Current Quarter (3 Months) $A’000 |
Year to date (3 Months) $A’000 |
||
| - (310) - - (136) - 2 - - - |
- (310) - - (136) - 2 - - - |
|||
| (444) | (444) | |||
| Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets 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) Net investing cash flows 1.13 Total operating and investing cash flows (carriedforward) |
- - - - - - - - - - |
- - - - - - - - - - |
||
| - | - | |||
| (444) | (444) |
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| 1.13 Total operating and investing cash flows (brought forward) |
(444) | (444) |
|---|---|---|
| Cash flows related to financing activities 1.14 Proceeds from issues of shares 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other (provide details if material) - Capital raising costs Net financing cash flows |
600 - - - - (43) |
600 - - - - (43) |
| 557 | 557 | |
| Net increase (decrease) in cash held 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 Quarter |
113 534 - |
113 534 - |
| 647 | 647 |
Payments to directors of the entity and associates of the directors
Payments to related entities of the entity and associates of the related entities
| 1.23 Aggregate amount of payments to the parties included in item 1.2 1.24 Aggregate amount of loans to the parties included in item 1.10 |
Current Quarter $A'000 |
|---|---|
| 96 | |
| - |
1.25 Explanation necessary for an understanding of the transactions
The amount above includes all payments to Directors and also includes payments to entities associated with Greg English, Stephen Biggins and Heath Hellewell. The payments relate to executive services and directors fees on commercial terms.
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.
n/a
2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest.
n/a
Financing facilities available
| 3.1 Loan facilities 3.2 Credit standby arrangements |
Amount available $A’000 |
Amount used $A’000 |
|---|---|---|
| Nil | Nil | |
| Nil | Nil |
Estimated cash outflows for next Quarter
| Estimated cash outflows for next Quarter | |
|---|---|
| 4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration |
$A’000 |
| 400 | |
| - | |
| - | |
| 150 | |
| Total | 550 |
Reconciliation of cash
| 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 5.2 Deposits at call 5.3 Bank overdraft 5.4 Other (provide details) |
447 | 494 |
| 200 | 40 | |
| - | - | |
| - | - | |
| Total: Cash at end of Quarter(item 1.22) | 647 | 534 |
Changes in interests in mining tenements
| 6.1 Interests in mining tenements relinquished, reduced or lapsed 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 |
|---|---|---|---|---|
| EL29687 EL29688 EL29280 EL28546 |
Beneficially held Beneficially held Beneficially held Beneficially held |
100% 100% 100% 100% |
0% 0% 0% 0% |
|
| EL30669 | Beneficially held | 0% | 100% |
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 (cents) |
Amount paid up per security (cents) |
|
|---|---|---|---|---|
| 7.1 Preference+securities (description) 7.2 Changes during Quarter |
||||
| 7.3 +Ordinary securities (CXO) 7.4 Changes during Quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs |
174,664,295 | 174,664,295 | ||
| 24,178,008 | 24,178,008 | 2.5 cents | 2.5 cents | |
| 7.5 +Convertible debt securities (description) 7.6 Changes during Quarter |
||||
| 7.7 Options (description and conversion factor) Unlisted options Unlisted Options (CXOAQ) Unlisted Options (CXOAQ) Unlisted Options (CXOAR) Unlisted Options (CXOAS) Unlisted Options (CXOAT) Unlisted Options (CXOAT) Unlisted Options (CXOAU) Total unlisted options Total unlisted performance rights (CXOAK) 7.8 Issued during Quarter – unlisted options Unlisted Options (CXOAU) 7.9 Exercised during Quarter 7.10 Expired during Quarter |
200,000 1,000,000 200,000 15,000,000 1,000,000 1,000,000 12,000,000 30,400,000 3,925,000 |
- - - - - - - - - |
Exercise price 7.50 10.00 8.50 10.00 5.00 7.50 5.00 |
Expiry date 31 Oct 2015 31 Oct 2015 16 Oct 2016 31 Jan 2016 30 Sep 2016 30 Sep 2016 31 Aug 2017 Various |
| 12,000,000 | - | 5.00 | 31 Aug 2017 | |
| 7.11Debentures(totals only) | ||||
| 7.12Unsecured notes(totals only) |
Compliance statement
-
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).
-
2 This statement does give a true and fair view of the matters disclosed.
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Jaroslaw (Jarek) Kopias
Date: 30 October 2015
Company Secretary
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 wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
-
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.
3 Issued and quoted securities
The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities .
-
4 The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.
-
5 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.
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