FireFly Metals Ltd. — Interim / Quarterly Report 2019

Jul 28, 2019

ASX Announcement 29 July 2019

AUTECO MINERALS LIMITED 30 JUNE 2019 QUARTERLY REPORT

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Auteco Minerals Ltd ( Auteco or the Company ) (ASX: AUT) is pleased to release its activities and cash flow report for the three months ended 30 June 2019.

EXPLORATION

During the quarter Programme of Work (POW) approval was received to commence activities at Limestone Well where previous soil sampling identified peak in soil values of 470ppm vanadium and 1.4% titanium, coincident with a magnetic high interpreted to be a continuation of the gabbro host to the Barrambie vanadium/titanium deposit.

The maiden drill testing is anticipated to be completed in the next quarter.

Auteco continues to review further mineral exploration properties for inclusion in the Company portfolio.

CORPORATE

Auteco appointed Canaccord Genuity (Australia) Ltd on 7 May 2019 as its corporate advisor to assist with the Company’s ongoing capital markets strategy, and other advisory services.

CORPORATE DIRECTORY

Executive Director Sam Brooks

Non-Executive Director Ian Gordon

On 1 May 2019, Auteco appointed Mr Nicholas Katris as Company Secretary, replacing Ms Kaitlin Smith.

As at 30 June 2019, Auteco has a cash balance of $0.73m (March 2019 $0.34m). For a breakdown of expenditures, refer to accompanying 5B.

For further information, please contact:

Non-Executive Director Michael Naylor

Mr Sam Brooks

Executive Director Auteco Minerals Ltd

Company Secretary Nicholas Katris

CONTACT DETAILS

Ph: 08 9220 9030 E: info@autecominerals.com.au

Principal & Registered Office

Suite 3, Level 3, 24 Outram Street, West Perth WA 6005

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TENEMENT HOLDINGS

Monax Mining Limited

TENEMENT	NO.	STATUS	INTEREST	DETAILS	TENURE HOLDER
Melton	EL 5122	Granted	25% of all minerals	JV with Marmota Energy	Marmosa P/L*
North Melton	EL 5209	Granted	25% of all minerals	JV with Marmota Energy	Marmota Energy
Croydon#2	EPM 26203	Granted	100%	Disposal Pending	Monax Mining Ltd
Bald Hill	E59/2304	Granted	100%	-	Monax Mining Ltd
Limestone Well	E20/846	Granted	0%	Earning up to 80%	Mithril Resources Ltd
Limestone Well	E57/1069	Granted	0%	Earning up to 80%	Mithril Resources Ltd

* Marmosa Pty Ltd (a wholly-owned subsidiary of Marmota Energy).

Monax Alliance Pty Ltd

TENEMENT	NO.	STATUS	INTEREST	DETAILS	TENURE HOLDER
Kulitjara	ELA 2013/168	Application	100%	-	Monax Alliance P/L
Anmuryinna	ELA 2013/169	Application	100%	-	Monax Alliance P/L
Poole Hill	ELA 2013/170	Application	100%	-	Monax Alliance P/L

Mining Tenements disposed: Nil

Mining Tenements acquired: Nil Beneficial percentage interests held in farm in or farm-out agreements: Nil Beneficial percentage interests in farm-in or farm-out agreements acquired or disposed: Nil

Compliance Statements

Exploration Results, Mineral Resources and Ore Reserves

The information in the Quarterly Report that relates to Exploration Results, Mineral Resources, Ore Reserves or targets is based on information compiled by Mr Sam Brooks, who is a Member of the Australasian Institute of Geoscientists. Mr Brooks is a director the Company and has sufficient experience in the style of mineralisation and type of deposit under consideration and qualifies 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 Brooks consents to the inclusion of the information in this report in the form and context in which it appears.

Forward Looking Information

Certain statements in this announcement constitute statements relating to intentions, future acts and events. Such statements are generally classified as “forward-looking statements” and involve known and unknown risks, uncertainties and other important factors that could cause those future acts, events and circumstances to differ materially from what is presented or implicitly portrayed herein. The Company gives no assurances that the anticipated results, performance or achievements expressed or implied in these forward-looking statements will be achieved.

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

+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, 01/05/13, 01/09/16

Name of entity

Auteco Minerals Limited

Auteco Minerals Limited
ABN 96 110 336 733	Quarter ended (“current quarter”)
96 110 336 733	30 June 2019

Consolidated statement of cash flows	Current quarter $A’000	Year to date (12 months) $A’000
1. Cash flows from operating activities 1.1 Receipts from customers 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) staff costs (e) administration and corporate costs 1.3 Dividends received (see note 3) 1.4 Interest received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Research and development refunds 1.8 Other (provide details if material) 1.9 Net cash from / (used in) operating activities	- (21) - - - (52) - 3 - - - -	- (84) - - - (419) - 7 - - - -
	(70)	(496)
2. Cash flows from investing activities 2.1 Payments to acquire: (a) property, plant and equipment (b) tenements (see item 10) (c) investments (d) other non-current assets	- - - -	(1) - - -

• See chapter 19 for defined terms 1 September 2016

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

Consolidated statement of cash flows	Current quarter $A’000	Year to date (12 months) $A’000
2.2 Proceeds from the disposal of: (a) property, plant and equipment (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 (provide details if material) 2.6 Net cash from / (used in) investing activities*	- - - - - - -	- - - - - - -
	-	(1)
3. Cash flows from financing activities 3.1 Proceeds from issues of shares and options 3.2 Proceeds from issue of convertible notes 3.3 Proceeds from exercise of share options 3.4 Transaction costs related to issues of 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 activities	468 - - (5) - - - - -	861 - - (12) - - - - -
	463	849
4. Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 4.2 Net cash from / (used in) operating activities (item 1.9 above) 4.3 Net cash from / (used in) investing activities (item 2.6 above) 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 of period	335 (70) - 463 -	376 (496) (1) 849 -
	728	728

• See chapter 19 for defined terms 1 September 2016

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

5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts	Current quarter $A’000	Current quarter $A’000	Previous quarter $A’000
5.1 Bank balances 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)	728 - - -		335 - - -
	728		335
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 item 1.2 33 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
		Current quarter $A'000
		33
		-
Director fees, superannuation and consulting fees.
7. Payments to related entities of the entity and their associates Current quarter $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
		Current quarter $A'000
		-
		-

	8. Financing facilities available Add notes as necessary for an understanding of the position Total facility amount at quarter end $A’000 Amount drawn at quarter end $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.	Total facility amount at quarter end $A’000	Amount drawn at quarter end $A’000
		-	-
		-	-
		-	-

• See chapter 19 for defined terms 1 September 2016

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

9. Estimated cash outflows for next quarter	$A’000
9.1 Exploration and evaluation 9.2 Development 9.3 Production 9.4 Staff costs 9.5 Administration and corporate costs 9.6 Other 9.7 Total estimated cash outflows	140 - - 23 29 -
	192

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	-	-	-	-
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: _____ Date: 29 July 2019
Company secretary
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Print name: Nicholas Katris

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 1 September 2016

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