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GREENWING RESOURCES LTD Interim / Quarterly Report 2013

Jul 23, 2013

65029_rns_2013-07-23_7c76b4b7-166e-4785-a128-b84c60920695.pdf

Interim / Quarterly Report

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ABN 31 109 933 995
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24 July 2013

The Manager Companies Company Announcements Australian Securities Exchange 20 Bridge Street Sydney NSW 2000

Dear Sir

JUNE 2013 QUARTERLY REPORT OF ACTIVITIES & CASHFLOW

Please find following the June, 2013 Quarterly Activities and Cash Flow Report for Bass Metals Ltd (ASX).

The Company’s activities during the June quarter focused on:

  • Optimising existing activities at site and corporately to reduce costs, including further salary cuts;

  • Aggressive pursuit of new business opportunities to diversify shareholder’s exposure to a new project and or commodity base;

  • The LionGold legal action, in particular exploring early settlement options which have been ignored but also defending it’s position resulting in a win to Bass on the issue of the validity of the writ service by Bass in the WA Supreme Court; and

  • Commencement of an important external Technical Review of the Company’s Tasmanian exploration assets and methods.

In short, the quarter was about; completing the “housekeeping” following settlement of the Hellyer Gold Project sale and quickly implementing the plan to extract value from Bass’ existing exploration assets and looking to become involved in new project opportunities. The Directors of Bass have a clear and detailed strategy reported previously, to build value back into the Company, which is being actively pursued. It has the explicit support of several of Bass’ key shareholder groups and several of the opportunities being presented to Bass are on the basis of Bass’ current exploration and operational experience as well as Bass’ demonstrated capacity to “do deals”.

The equity market is currently very difficult for investors in the junior resources sector and hence also for companies looking to raise equity. The Board of Bass is very mindful of this both in its pursuit of new projects but also in continuing to cut costs to conserve cash. Unfortunately there are specific and complex legacy environmental issues that the Company is committed to manage and fund. But significant progress has been made during the June quarter to ameliorate those issues to varying degrees with some important future savings emerging which are currently not budgeted.

More broadly and in line with the Technical Review, the company is reviewing its overall Tasmanian exploration focus and this may result in modified exploration programs to those implemented previously or include a divestment / farm-out strategy.

Suite 7, 186 Hay Street, Subiaco WA 6008 PO Box 8107 Subiaco East WA 6008 Telephone (08) 6315 1300 Facsimile (08) 9481 2846

www.bassmetals.com.au

Page | 1

I look forward to providing further updates as the Company continues to progress the initiatives outlined above and within this report.

Yours faithfully

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Mike Rosenstreich Managing Director

Competent Persons Statement

The information in this report that relates to Mineral Resource estimates is based on information compiled by Mr Michael Rosenstreich who is a fulltime employee of Bass Metals and a Member of the Australasian Institute of Mining and Metallurgy. Mr Rosenstreich has sufficient experience which is relevant to the style of mineralisation and type of deposit and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code)”. Mr Rosenstreich consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.

Disclaimer

This announcement contains certain forward looking statements. Forward looking statements can generally be identified by the use of forward looking words such as, “expect”, "intend", “should”, “could”, “may”, “will”, “believe”, "propose", “forecast”, “targets”, “outlook” and other similar expressions. The forward looking statements contained in this announcement are not guarantees or predictions of future performance and involve known and unknown risks and uncertainties and other factors, many of which are beyond the control of Bass Metals, and may involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct. Bass Metals cautions shareholders and prospective shareholders not to place undue reliance on these forward looking statements. The forward looking statements are based on information available to Bass Metals as at the date of this announcement. Except as required by law or regulation (including the ASX Listing Rules), Bass Metals undertakes no obligation to provide any additional or updated information whether as a result of new information, future events or results or otherwise.

Suite 7, 186 Hay Street, Subiaco WA 6008 PO Box 8107 Subiaco East WA 6008 Telephone (08) 6315 1300 Facsimile (08) 9481 2846

www.bassmetals.com.au

Page | 2

A. CORPORATE ACTIVITIES

1. Financial Position & Management

Cash on hand at the end of the quarter was $2.4 million ($3.96 in March 2013 quarter). Which does not include approximately $0.1 million owed to Bass by Ivy Resources for shared expenses at Hellyer.

Expenditure of $1.39 million comprised:

  • Exploration: $0.27 million ( $0.03 million March quarter), refer section 3.0 Exploration;

  • Development & production: $0.73 million ($3.95 million in March quarter). This relates to a State Royalty obligation on concentrate revenues which was paid during the period.

  • Environmental: $0.18 million ($0.04 million March quarter) relates to Hellyer and Que River Mine Lease environmental expenditure.

  • Site Care & Maintenance: $0.11 million ($0.25 million March quarter)

  • Corporate administration: $0.20 million ($0.46 million March quarter).

Receipts comprised $0.11 million mainly from interest and minor surplus equipment sales.

Debt: the Company is debt free having paid approximately $0.7 million in Tasmanian State Royalties and having settled an equipment lease for $0.2 million, early.

Forecast Expenditure – is estimated to be approximately $0.7 million for the next quarter, which includes $0.2 million of discretionary exploration expenditure which is currently under review; further details are in Section 4 of the Appendix 5B.

The Company currently has 5 fulltime employees; 3 based in Tasmania and 2 in Perth. The salaries for the Tasmanian based Environmental Co-ordinator and Senior Field Technician are shared with Ivy Resources.

2. Business Development

As outlined previously Bass has initiated a business development strategy to diversify the Company’s interest into a new project through joint venture, acquisition or corporate transaction.

Bass currently has a varied and interesting “work-in-progress” list of new project/corporate opportunities under review, having evaluated and declined several already.. The current difficult equity market conditions have given rise to many of those opportunities but this also makes it critical for Bass to select the correct option, i.e. one that existing and new shareholders would support or that can be advanced without an immediate requirement to raise capital.

Bass is currently undertaking detailed due diligence on two possible transactions which it considers it can substantially fund from existing capital and provide positive returns from current share price levels, as and when equity markets pick-up for junior exploration stocks. However, there is still considerable uncertainty in terms of both technical appraisal and commercial negotiations and hence there is no certainty of completion and further details will be reported if any of these opportunities advance to a more definitive stage. The Board is encouraged by the number and quality of the opportunities being presented and assessed and is fully supportive of this initiative.

Suite 7, 186 Hay Street, Subiaco WA 6008 PO Box 8107 Subiaco East WA 6008 Telephone (08) 6315 1300 Facsimile (08) 9481 2846 www.bassmetals.com.au

Page | 3

3. LionGold Litigation

On 16 October, 2012 Bass issued a writ and statement of claim in the Supreme Court of Western Australia against LionGold Corp Ltd of Singapore in respect of its allegations that LionGold breached and repudiated a Share sale Agreement dated 5 July, 2012 for the sale of Hellyer Mill Operations Pty Ltd, which held Bass’ Hellyer Gold Project.

LionGold applied for the writ to be set aside on the basis that the service process for the writ was invalid on the 21 November, 2012. This application was heard by the WA Supreme Court on 26 March, 2013.

On 7 May, 2013 Bass received written advice from the Court which included the following key points (quote):

“The application was made pursuant to O 12 r 6(2) of the Rules of the Supreme Court 1971 (WA) (the Rules). The application represents perhaps the most pointless interlocutory dispute imaginable.”

And

“There is no suggestion the defendant (LionGold) is not aware of the writ nor can there be any suggestion this is in someway a concocted dispute. But instead of resolving the issues between the parties the defendant has chosen to take a point which at best could only delay the plaintiff's (Bass) action. Be that as it may the application has been made and must be resolved.”

Culminating in;

“The defendant's application is dismissed.”

Which is quoted herein to make the point to Bass shareholders that their Company has a strong position which it is pursuing vigorously (and clearly with some sympathy from the court), but being delayed by a tactic which avoids the parties getting to the core legal dispute, which is the breach of contract issue.

Following on from that, LionGold has lodged an Appeal against that dismissal finding of the WA Supreme Court and a hearing date has been set for 25 October, 2013. It is important to note that the majority of the legal activities to date have revolved around the issue of the Service of the Writ, because LionGold is a Bermudan registered company, listed on the Singapore Stock exchange with assets and company officers in Australia, raising the issue of where to serve the writ.

Whilst Bass will contest the Appeal it has also received the leave of the WA Supreme Court for Service of the Writ on LionGold in Bermuda. Service on LionGold in Bermuda will finalise the matter. If Service is completed before the Appeal is heard by the WA Supreme Court, then the outcome of the Appeal (if it still proceeds) will not cause further delays. If this dispute goes to trial, the expected hearing date is around April-June 2014.

It is worth noting that LionGold (refer LionGold Annual Financial Report to March 31 2013) estimated that its liability in this action could be A$3.6 million which compares to Bass’ estimated claim of up to $5 to $6 million. Both are significant figures and clearly Bass should pursue this action on behalf of its shareholders.

Suite 7, 186 Hay Street, Subiaco WA 6008 PO Box 8107 Subiaco East WA 6008 Telephone (08) 6315 1300 Facsimile (08) 9481 2846

www.bassmetals.com.au

Page | 4

Bass has attempted to explore settlement options, all of which have been ignored. In anticipation of there being no response to settlement, Bass has maintained its dialogue with several litigation funding groups to assist it in funding this action.

4. Capital Structure

No new securities were issued, expired or were cancelled during the period.

As at 30 June, 2013, the Company had 309,450,145 fully paid ordinary shares, 90,137,678 listed options and 32,055,000 unlisted options on issue.

The latest Top Twenty List of Shareholders has been posted on the Company’s website.

B. TASMANIAN SITE ACTIVITIES

1. Exploration

During the quarter exploration has occurred at the Hellyer and Lake Margaret projects. At Hellyer, a major down hole electro-magnetic (DHEM) survey was completed, a project wide technical review was begun and an orientation hangingwall pathfinder element, soil and drill core sampling program was completed. At Lake Margaret a partial digest soil survey was completed.

1.1 Hellyer Project

At Hellyer, eighteen diamond drill holes, completed by Bass over the last three years, were surveyed using DHEM, to search for conductive, off-hole massive basemetal sulphide bodies, such as the Hellyer and Que deposits. The drill holes surveyed included the McKay, D Zone, Switchback, Hellyer North, Easy Street and Que River prospects. The location of drill holes that were surveyed is shown below in Figure 1.

No DHEM anomalies potentially attributable to off-hole massive basemetal sulphide accumulations were detected. A small in-hole response was detected in HLD1030 (McKay Prospect Figure 1) from the intersected base metal sulphide (7.0m at 0.7%Cu, 9.9%Pb, 22.3%Zn, 181g/t Ag, 3.4g/t Au), confirming the small size of this lens. At Que River Mine, QRD1314 (Figure 1), drilled in 2010 to test the deep DHEM anomaly previously defined from historic and Bass drilling, was blocked at 438 metres. Due to the blockage, not enough of the expected anomalous response could be surveyed to add to the knowledge of this conductor.

A technical review of the current geological model and exploration strategy for the Que Hellyer Volcanics (QHV) is underway. The review will assess the robustness of the current geological model and aim to identify alteration signatures that may be indicative of undiscovered mineralisation. The methodology that has been applied by Bass Metals and previous companies to explore the QHV will also be reviewed, with the aim to identify new exploration techniques which may improve the likelihood of discovery.

Consultants from Jigsaw Geoscience in Perth are involved in the review and were on site during the quarter. To date there is broad agreement with the current geological framework but some new interpretations are emerging, such as an alternative stratigraphic interpretation of the area to the east of the Que River mine. The new interpretation would require a faulted connection between Que River mine units and mapped host sequence to the east, resulting in potential host sequence stratigraphy that is untested at depth (area A on Figure 1).

Suite 7, 186 Hay Street, Subiaco WA 6008 PO Box 8107 Subiaco East WA 6008 Telephone (08) 6315 1300 Facsimile (08) 9481 2846

www.bassmetals.com.au

Page | 5

The technical review is also examining extending the trace element geochemical and spectral study undertaken by Bass in 2009-10, from the footwall to hangingwall rocks to the host horizon. This would provide a new tool to explore deep prospective stratigraphy. To test this concept, drill core samples were taken from the hangingwall basalt above the Hellyer ore body and orientation soil samples were taken over the top of the Hellyer and Fossey ore bodies. Both soil samples over the ore bodies and hangingwall rocks for up to 250 metres away from the ore bodies were found to be anomalous in pathfinder elements, validating this technique as a new and cost effective method to search for new alteration halos associated with deeper sited mineralisation.

The technical review is continuing.

Figure 1: Location of drill holes (in blue) surveyed with down hole EM and area (in red) of potential unrecognised host sequence, to the east of Que River mine

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Suite 7, 186 Hay Street, Subiaco WA 6008 PO Box 8107 Subiaco East WA 6008 Telephone (08) 6315 1300 Facsimile (08) 9481 2846

www.bassmetals.com.au

Page | 6

1.2 Regional Exploration

Bass Metals exploration licence tenure in northwest Tasmania is shown in Figure 2. During the June quarter the Mt Block Exploration Licence (EL48/2003) was reduced from 50km[2] to 27km[2] , retaining all the prospective QHV in the north of the licence area. During the reporting period the main regional exploration activity conducted by Bass was on the Lake Margaret licence.

Lake Margaret (EL 28/2009) Bass Metals 70% Clancy Exploration 30%

At Lake Margaret a partial digest soil geochemical survey was completed in April, 2013. The survey is an extension of the 2011 survey, which aimed to search for geochemical anomalies through glacial cover, over prospective volcanics, adjacent to the Great Lyell Fault. The original survey indicated anomalous Cu, Ag, Pb and Zn values at the southern limit of the survey - the Newton Copper Target described in the March 2012 Quarterly Report. The April soil survey aimed to define the extent of the anomaly toward the south. The location of the original survey, soil anomaly and April soil survey extension is shown on Figure 3.

Assay results were received in June, 2013 but following a QA/QC assessment by Bass, the assay laboratory has agreed to re-assay the entire batch. The re-assayed results are expected early in the September quarter.

Upon completion of the geophysical DHEM program at Hellyer an attempt was made to conduct a DHEM survey of drill hole LMD2, drilled by Bass in 2011. Weather conditions at the time and difficult access to this drill site forced postponement of this survey until after winter.

2. SITE & ENVIRONMENTAL MANAGEMENT

OH&S

There was one lost time injury (LTI), on a Bass managed tenement during the period; a geophysical contractor slipped and hurt his ankle, breaking an almost 3 year LTI free period.

The Company has handed the routine care and maintenance role of the Hellyer Mine lease and assets to the new owner, Ivy Resources. Note Ivy, which now owns 100% of Hellyer Mill Operations Pty Ltd now also has the statutory Responsible Officer role for the Hellyer Mine lease.

Environmental Management

The June quarter environmental focus was directed at progressive rehabilitation works on the Que River Mining Lease. Extensive restoration works were conducted to accelerate the site towards closure which will see a reduction in future care and maintenance expenditure.

Environmental management costs during the quarter have declined due to both the new cost sharing regime with Ivy Resources at the Hellyer Mine lease and from the capital works undertaken at Que River reducing inputs costs, such as lime to treat acid mine water run-off at Que River.

Bass continued to adhere to all EPA guidelines in regard to site environmental monitoring on all of its managed tenements, with daily field sampling conducted and weekly laboratory samples collected, analysed and reported as per EPA requirements.

There were no environmental incidents on any of Bass’ managed tenements during the June quarter.

Suite 7, 186 Hay Street, Subiaco WA 6008 PO Box 8107 Subiaco East WA 6008 Telephone (08) 6315 1300 Facsimile (08) 9481 2846

www.bassmetals.com.au

Page | 7

Figure 2: Bass Metals Exploration Licence locations

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Suite 7, 186 Hay Street, Subiaco WA 6008 PO Box 8107 Subiaco East WA 6008 Telephone (08) 6315 1300 Facsimile (08) 9481 2846

www.bassmetals.com.au

Page | 8

Figure 3: Location of Extension to the Lake Margaret Soil Geochemistry Program

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Suite 7, 186 Hay Street, Subiaco WA 6008 PO Box 8107 Subiaco East WA 6008 Telephone (08) 6315 1300 Facsimile (08) 9481 2846

www.bassmetals.com.au

Page | 9

Appendix 5B Mining exploration entity quarterly report

Rule 5.3

Appendix 5B

Mining 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

Name of entity
BASS METALS LTD
ABN
Quarter ended (“current quarter”)
31 109 933 995
30 JUNE 2013
Consolidated statement of cash flows
Name of entity
BASS METALS LTD
ABN
Quarter ended (“current quarter”)
31 109 933 995
30 JUNE 2013
Consolidated statement of cash flows
Name of entity
BASS METALS LTD
ABN
Quarter ended (“current quarter”)
31 109 933 995
30 JUNE 2013
Consolidated statement of cash flows
Name of entity
BASS METALS LTD
ABN
Quarter ended (“current quarter”)
31 109 933 995
30 JUNE 2013
Consolidated statement of cash flows
BASS METALS LTD
ABN
31 109 933 995
Consolidated statement of cash flows
30 JUNE 2013
Cash flows related to operating activities
1.1
Receipts from product sales and related debtors
1.2
Payments for
(a) exploration & evaluation
(b) development & production
costs
(c) OHS & environmental
(d) Site care & maintenance
(e) site administration
(f) mine closure
(g) corporate 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 paid
1.7
Other
NetOperating Cash Flows
Current quarter
$A’000
Year to date
(12.months)
$A’000
-

(271)
(728)
(179)
(31)
(77)
-
(201)
-
95
-
-
-
4,513
(363)
(6,991)
(642)
(911)
(639)
(647)
(1,887)
-
162
(387)
30
200
(1,392) (7,562)
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
(d) Subsidiary
1.10
Loans to other entities
1.11
Loans repaid by other entities
1.12
Other – Hedging Settlements
Net investing cash flows
1.13
Total operating and investing cash flows
(carried forward)
-
-
-
19
-
-
-
-
-
-
-
70
11,000
-
-
603
19 11,673
(1,373) 4,111
  • See chapter 19 for defined terms.

17/12/2010 Appendix 5B Page 1

Appendix 5B Mining exploration entity quarterly report

1.13
Total operating and investing cash flows
(brought forward)
1.13
Total operating and investing cash flows
(brought forward)
1.13
Total operating and investing cash flows
(brought forward)
(1,373) 4,111
Cash flows related to financing activities
1.14
Proceeds from issues of shares, options, etc.
1.15
Proceeds from convertible notes
1.16
Proceeds from borrowings
1.17
Repayment of borrowings
1.18
Dividends paid
1.19
Other (fundraising transaction costs)
Net financing cash flows
-
-
-
(191)
-
-
-
-
-
(5,383)
-
-
(191) (5,383)
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 ofquarter
(1,564)
3,963
(1,272)
3,671
2,399 2,399
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
1.24
Aggregate amount of payments to the parties included in item 1.2
Aggregate amount of loans to the parties included in item 1.10
Current quarter
$A'000
27
1.25
Explanation necessaryfor an understandingof the transactions
1.2 (b) Expenditure for the quarter relates to the settlement of outstanding Tasmanian State
royalties.
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
2.2
Details of outlays made by other entities to establish or increase their share in projects in which the
reportingentityhas an interest
Explanation necessaryfor an understandingof the transactions
1.2 (b) Expenditure for the quarter relates to the settlement of outstanding Tasmanian State
royalties.
Details of outlays made by other entities to establish or increase their share in projects in which the
reportingentityhas an interest
  • See chapter 19 for defined terms.

Appendix 5B Page 2

17/12/2010

Appendix 5B Mining exploration entity quarterly report

Financing facilities available

Add notes as necessary for an understanding of the position.

3.1 Loan facilities
3.2 Credit standby arrangements
Amount available Amount used
$A’000 $A’000
- -

Estimated cash outflows for next quarter

4.1
Exploration and evaluation
4.2
Development
4.3
Production
4.4
4.5
4.6
Site Care & Maintenance
Site Environmental Management
Corporate
$A’000
200
-
-
-
195
304
Total 699

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)
2,399 3,955
- 8
Total: cash at end of quarter(item 1.22) 2,399 3,963

Changes in interests in mining tenements

6.1
Interests in mining
tenements relinquished,
reduced or lapsed
Tenement
reference
Nature of interest
(note (2))
Interest at
beginning
ofquarter
Interest at
end of
quarter
  • See chapter 19 for defined terms.

17/12/2010 Appendix 5B Page 3

Appendix 5B Mining exploration entity quarterly report

6.2 Interests in mining tenements acquired or increased

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 (see note
3) (cents)
Amount paid up per
security (see note 3)
(cents)
7.1
Preference
+securities
(description)
7.2
Changes during
quarter
(a) Increases
through issues
(b) Decreases
through returns
of capital, buy-
backs,
redemptions
7.3
+Ordinary
securities
7.4
Changes during
quarter
(a) Increases
through issues
(b) Decreases
through returns
of capital, buy-
backs
309,450,145 309,450,145
- -
7.5
+Convertible
debt securities
(description)
7.6
Changes during
quarter
(a) Increases
through issues
(b) Decreases
through
securities
matured,
converted
  • See chapter 19 for defined terms.

Appendix 5B Page 4

17/12/2010

Appendix 5B Mining exploration entity quarterly report

7.7
Options
(description and
conversion
factor)
7.8
Issued during
quarter
7.9
Exercised during
quarter
7.10
Expired during
quarter
90,137,678
200,000
200,000
200,000
730,000
75,000
75,000
75,000
100,000
100,000
100,000
15,000,000
15,200,000
90,137,678
-
-
-
-
-
-
-
-
-
-
-
-
Exercise price
20.0 cents
25.0 cents
35.0 cents
50.0 cents
22.0 cents
43.5 cents
61.0 cents
88.0 cents
26.0 cents
36.5 cents
52.5 cents
1.30 cents
0.6 cents
Expiry date
30.09.14
01.09.13
01.09.13
01.09.13
05.07.13
31.01.15
31.01.15
31.01.15
27.08.15
27.08.15
27/08.15
31.05.15
18.12.15
- - - -
- - - -
- - - -
7.11
Debentures
(totals only)
7.12
Unsecured
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 5).

  • 2

  • 2 This statement does / ~~does not*~~ (delete one) give a true and fair view of the matters disclosed.

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

Date: 24 July 2013

Print name: .........................................................

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.
  • See chapter 19 for defined terms.

17/12/2010 Appendix 5B Page 5

Appendix 5B Mining exploration entity quarterly report

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 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.

  • 5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting 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.

== == == == ==

  • See chapter 19 for defined terms.

Appendix 5B Page 6

17/12/2010