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HELIX RESOURCES LIMITED — Interim / Quarterly Report 2014
Jul 23, 2014
65059_rns_2014-07-23_1bdfbe19-8635-4ee2-95b6-eb394e77a2a2.pdf
Interim / Quarterly Report
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JUNE 2014 QUARTERLY REPORT
Highlights
CHILE
BLANCO Y NEGRO
Drill program to test extension of Blanco Y Negro high-grade copper-gold mineralisation (with previous drill intersections including 19.5m @ 2% Cu and 1.1 g/t Au); Up to 1,000m drilling planned in 6-7 holes commencing first week August.
JOSHUA COPPER PROJECT
Codelco report confirms porphyry potential of Joshua Project; several industry participants complete field visits to the Joshua Project during the quarter.
NSW
BROWN’S PROSPECT (MURIEL TANK)
Brown’s Prospect gold-in-soil anomaly confirmed with strike of at least 1km and peak soil assays to 294ppb Au. Rockchips of up to 15.5g/t Au collected from within the soil anomaly area confirming potential for high-grade gold; maiden drilling program has received approval.
COLLERINA PROJECT
Mapping and Rockchips returning up to 3% Copper and 9.3g/t Gold from the Collerina Prospect. Work has confirmed Collerina Prospect strike of at least 500m - identified from sub-cropping gossan within a regional 15km long prospective corridor. Land access agreements are being finalised and preparations are underway for a detailed soil auger sampling program and geophysics in 3Q14.
CORPORATE
Non-Executive Director Mr Gordon Dunbar retired from the Board during the quarter.
A Placement of 30 Million FPO shares at $0.025 to raise $0.75M to Sophisticated Investors was completed. Funds raised are to be used to advance Chile and Australian exploration assets and for working capital.
| Helix Resources Limited Suite 7 / 29 Ord Street, West Perth WA 6005 Telephone: +61 8 9321 2644 Fax: +61 9321 3909 www.helix.net.au |
For Further Information please contact: Mick Wilson – Managing Director Email: [email protected] Pasquale Rombola- Chairman Email: [email protected] |
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PROJECT ACTIVITIES
CHILE - COPPER AND GOLD PROJECTS
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Figure 1: Location of Helix’s Projects near the town of Ovalle – Region IV Chile
Blanco Y Negro Project[100%]
A 100% owned Mining lease and surrounding 100km² of exploration concessions (Huallillinga Project) in Region IV Chile. The project sits within a major regional mineralised shear system with multiple mineral occurrences evident throughout broader project and surrounding district.
Helix has mapped the main mineralised shear over a strike of 1.3km (offset by cross cutting faults) within the mining lease. The company has drilled 10 holes into the main shear position with the best result being 19.5m @ 2% Cu and 1.1 g/t Au from the central 240m of strike.
A drilling program of up to 1,000m is planned to commence in early August. Up to 4 holes will test a further 250m of strike of the main shear (Figure 2). Three shallow holes are also planned within the known mineralised envelope to improve geological knowledge and confirm grade continuity closer to the surface.
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Figure 2: 3D Schematic of Blanco y Negro with panel being targeted by drilling program (proposed holes in blue).
| Helix Resources Limited Suite 7 / 29 Ord Street, West Perth WA 6005 Telephone: +61 8 9321 2644 Fax: +61 9321 3909 www.helix.net.au |
For Further Information please contact: Mick Wilson – Managing Director Email: [email protected] Pasquale Rombola- Chairman Email: [email protected] |
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Joshua Copper Porphyry Project [100%]
The Joshua Project is located in Region IV Chile, 40km East of Ovalle [Population 100,000], at low altitude (less than 1700m), with excellent nearby infrastructure. Four porphyry targets have been identified to date in a regionally significant NW structural corridor within the total project area of 100km². The main porphyry system (Target 1, Carmelita & Target 4) is defined by an IP anomaly covering 10km² and coincident soil geochemistry over the target zone (Figure 3). To date Helix has drill tested only 10% of the target– (2,000m RC& DDH) with the best result: DDH2 400m @ 0.3%Cu + 0.1g/t Au from surface to EOH.
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Figure 3: Joshua main porphyry target with pXRF copper results draped on topography
During the quarter, CODELCO, the World’s largest copper producer presented Helix with a report following their review of the Joshua Project. The evaluation was conducted over a 6 week period and assessed the geological model for the Joshua Project and evaluated potential economic scenarios based around that model.
The work consisted of a review of Helix’s activities to date, 1:5000 scale field mapping completed by CODELCO Geologists and compilation of the information into a series of potential economic scenarios. Scenario analysis for the Project was centred on the Target 1 area and the recommendation from the CODELCO report was to conduct drilling to confirm the copper porphyry geological model.
Industry interest in the Joshua Project remains high and Helix is currently engaged with a number of production focussed companies under Confidentiality Agreements. The Company continues to work toward securing a Joint Venture arrangement that will adequately test the geological model and advance the Joshua asset.
Embrujado Project[100%]
The Embrujado covers a 100km² zone of prospective geology and structural settings within the regionally significant Los Mantos Fault system. Mapping and identification of zones of interest continued during the quarter with several targets identified for follow-up work during 2H14.
| Helix Resources Limited Suite 7 / 29 Ord Street, West Perth WA 6005 Telephone: +61 8 9321 2644 Fax: +61 9321 3909 www.helix.net.au |
For Further Information please contact: Mick Wilson – Managing Director Email: [email protected] Pasquale Rombola- Chairman Email: [email protected] |
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COPPER & GOLD PROJECTS - NSW
Helix holds approximately 100km strike of prospective VMS Copper terrain and +50km strike of epithermal Gold terrain in the Cobar-Girilambone District. Helix is carrying out targeted geochemistry and geophysics to isolate drill targets for testing in this highly prospective region.
BROWNS PROSPECT - MURIEL TANK PROJECT [ Helix Resources 70% : Glencore 30% ]
Muriel Tank (EL6739) forms part of Helix’s Isokind JV with Glencore. The project is located 20km east of the Canbelego township on the Barrier Highway in NSW. Gold lode mineralisation was historically mined in the 192030’s from the goldfield, most commonly associated with chlorite shears. Gold is also associated with mixed sedimentary (turbidite) sequences in fold hinge zones and in localised kink zones, where previous Helix rock chips have returned results of >30g/t Au.
A program of hydraulic auger soil sampling at 50m spacing by 10m along line sampling has confirmed a strong continuous zone of gold anomalism (up to 294ppb Au) over 1 km of strike at the Browns Prospect (Figure 5).
The target zone at Browns Prospect corresponds with a subtle magnetic high feature of which the only observed sub-crops comprise of a chlorite altered shale breccia with quartz/carbonate/ex-sulphide matrix to the south end and strongly deformed chloritic shale with traces of blue quartz veining to the north.
The company recently received government approvals for a maiden RC drilling program to test the anomaly.
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Figure 4: Muriel Tank Project: known historic prospect locations and interpreted fold feature at Browns Prospect area on aeromagnetics .
Helix Resources Limited For Further Information please contact: Suite 7 / 29 Ord Street, West Perth WA 6005 Mick Wilson – Managing Director Telephone: +61 8 9321 2644 Fax: +61 9321 3909 Email: [email protected] www.helix.net.au Pasquale Rombola- Chairman Email: [email protected]
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Figure 5: Brown’s Prospect soil sampling on detailed magnetics.
Helix Resources Limited For Further Information please contact: Suite 7 / 29 Ord Street, West Perth WA 6005 Mick Wilson – Managing Director Telephone: +61 8 9321 2644 Fax: +61 9321 3909 Email: [email protected] www.helix.net.au Pasquale Rombola- Chairman Email: [email protected]
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COLLERINA [ Helix Resources 100% of precious & base metal discoveries]
Work during the quarter has highlighted copper and gold mineralised sup-cropping gossanous material over a strike of at least 500m. Rockchips with up to 3% Copper and 9.3g/t Gold were returned from sampling along the strike of the prospect area.
The high grades of gold (7 samples >1g/t Au and associated silver up to 13g/t Ag) and copper (3 samples > 1% Cu) may be associated with separate mineralisation phases, which provides scope for multiple target styles within this prospective system (refer to Table 1 and Figure 6 & 7).
Table 1: Significant copper and gold rockchips from the Collerina Prospect Area
| PROJECT | SITE_ID | EASTING | NORTHING | Auppb | CUppm | Znppm | Ag ppm | Asppm | Pbppm |
|---|---|---|---|---|---|---|---|---|---|
| EL6336 | 266631 | 505074 | 6455043 | 9320 | 1740 | 64 | 12.5 | 195 | 125 |
| EL6336 | 266632 | 505069 | 6455041 | 109 | 13300 | 358 | 10 | 1240 | 125 |
| EL6336 | 266633 | 505065 | 6455037 | 2540 | 650 | 26 | 15 | 130 | 72 |
| EL6336 | COL001 | 505234 | 6454971 | 6 | 13300 | 116 | BDL | 49 | 2 |
| EL6336 | COL002 | 505234 | 6454971 | 2370 | 7340 | 70 | 13 | 359 | 114 |
| EL6336 | COL003 | 505234 | 6454971 | 47 | 30100 | 306 | BDL | 27 | 4 |
| EL6336 | COL006 | 505220 | 6454950 | 1570 | 2650 | 374 | 4 | 303 | 642 |
| EL6336 | COL009 | 505300 | 6454950 | 1270 | 2490 | 74 | 2 | 340 | 248 |
| EL6336 | COL011 | 505320 | 6454930 | 1800 | 1600 | 258 | 4 | 346 | 4350 |
| EL6336 | Z76530 | 505364 | 6454909 | 1840 | 438 | 78 | 3.5 | 52 | 94 |
Refer to ASX announcement 11 June 2014 for full details
Samples collected during the mapping program were from sub-cropping gossan, bedrock host lithology, gossanous float and spoil from historical workings.
Helix plans to follow-up these encouraging results with a detailed soil auger program.
The Collerina Prospect
The Collerina Prospect is prospective for copper and gold mineralisation. It is located on a 15km long corridor of prospective volcanic/sedimentary sequence within the tenement (refer Figure 8). The project is located within a +200km VMS belt and is close to infrastructure including the operating Tritton Mine and associated deposits to the north, and the Tottenham Cu/Au deposits to the south.
The Collerina Prospect has an historic copper working (early 1900’s) and was subject to a broad-spaced 3 hole drilling program by CRA in the 1980’s, where copper mineralisation was intersected in all three holes (4m @ 2.4% Cu from 54m, 48m @ 0.6% Cu from 30m and 4.6m @ 1.1% Cu from 65m). There has been limited exploration activity on the Prospect since.
| Helix Resources Limited Suite 7 / 29 Ord Street, West Perth WA 6005 Telephone: +61 8 9321 2644 Fax: +61 9321 3909 www.helix.net.au |
For Further Information please contact: Mick Wilson – Managing Director Email: [email protected] Pasquale Rombola- Chairman Email: [email protected] |
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Figure 6: The Collerina Prospect: Copper rockchip result locations and historic drill collars draped on magnetics and air photo image.
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Figure 7: The Collerina Prospect: Gold rockchip result locations draped on magnetics and air photo image with position of proposed auger soil grid.
| Helix Resources Limited Suite 7 / 29 Ord Street, West Perth WA 6005 Telephone: +61 8 9321 2644 Fax: +61 9321 3909 www.helix.net.au |
For Further Information please contact: Mick Wilson – Managing Director Email: [email protected] Pasquale Rombola- Chairman Email: [email protected] |
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Figure 8: Location of EL6336 on regional magnetics
Helix Resources Limited For Further Information please contact: Suite 7 / 29 Ord Street, West Perth WA 6005 Mick Wilson – Managing Director Telephone: +61 8 9321 2644 Fax: +61 9321 3909 Email: [email protected] www.helix.net.au Pasquale Rombola- Chairman Email: [email protected]
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NON- CORE ASSETS
OLARY IRON PROJECT – SA
Helix remains in discussions with Lodestone Equities Limited (Lodestone) after granting an extension to the deferred payment of the $1.75m due on 31 March 2014 for the sale of the Olary Magnetite asset in South Australia.
Helix holds a 1% FOB Royalty over Fe production from this project and is to receive deferred cash payments of$2.575M (+ interest) from Lodestone to complete the sale of this asset.
TUNKILLIA GOLD PROJECT JV - SA
Helix Resources has a 30% interest in the Tunkillia Gold Project in the Gawler Craton in South Australia. The project was discovered by Helix in the 1990’s and has a total resource of 878,000 ozs of gold and 2.5m ozs of silver ( refer to resources table ).
In May 2014, WPG Resources became a 70% holder and manager of the Tunkillia Project purchasing Mungana’s share of the project. Helix welcomes WPG as a well-funded partner with a proven track record to advance the asset to the benefit of the Joint Venture, particularly in relation to the following points:
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An exploration focus targeting new high-grade pods suitable for early development
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Pursuing the grant of the Mining Lease covering the Tunkillia deposit
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Review to optimise the Tunkillia Resource to focus on improving gold grades
-
Re-assessing treatment options to optimise economic returns from the asset
Helix looks forward to WPG executing its strategy at Tunkillia and welcomes the potential value this could add to the Project.
YALLEEN IRON ORE PROJECT – WA
Yalleen Project has a resource 84Mt @ 57% Iron ore in Indicated and Inferred Resources (refer to resources table below) on 575km² of tenements in the West Pilbara owned by Helix Resources – API JV: iron ore rights only
Helix is currently diluting to Royalty over iron ore production from the tenements. Recent corporate activity resulting in Aquila Resources being acquired by Baosteel and Aurizon is being monitored.
| Helix Resources Limited Suite 7 / 29 Ord Street, West Perth WA 6005 Telephone: +61 8 9321 2644 Fax: +61 9321 3909 www.helix.net.au |
For Further Information please contact: Mick Wilson – Managing Director Email: [email protected] Pasquale Rombola- Chairman Email: [email protected] |
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Project Location Map
Capital Structure
| ASX Ticker Code | HLX | |
|---|---|---|
| Share Price | AU$0.037 | |
| Market Cap | $8.7M | |
| Fully Paid Shares | 235M | |
| September 2014 Options [ex $0.015] 35M |
||
| Directors and Management | ||
| Pasquale Rombola | Non-Executive Chairman | |
| Michael Wilson | Managing Director | |
| Jason Macdonald | Non-Executive Director | |
| Assets | ||
| Cash | $1.7 Million | |
| NSW- Restdown Gold JV (70%) | 2.6Mt @ 1.2g/t Au (100%) – (JORC 2004) | |
| NSW - Canbelego JV (70% ) | 1.5Mt @ 1.2% Cu (100%) – (JORC 2004) | |
| NSW – Cobar Region | Au/Cu projects with advancing targets | |
| NSW – Collerina Project | Earn 100% of precious and base metal discoveries on EL6336 | |
| Chile – Joshua Project | Significant Cu porphyry | |
| Chile – Huallillinga Project | Blanco Y Negro Deposit: 1.4Mt @ 1.4% Cu + 0.5g/t Au (JORC 2012) | |
| Chile – Hado Project | Large Cu/Au porphyry targets | |
| Chile – Embrujado | High-grade Cu/Au and porphyry targets |
Helix Resources Limited For Further Information please contact: Suite 7 / 29 Ord Street, West Perth WA 6005 Mick Wilson – Managing Director Telephone: +61 8 9321 2644 Fax: +61 9321 3909 Email: [email protected] www.helix.net.au Pasquale Rombola- Chairman Email: [email protected]
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Resource Inventory
| Commodity | Category | Category | Project | Interest | Resource |
|---|---|---|---|---|---|
| Iron Ore | Indicated Inferred |
Yalleen JV, WA |
30% (Diluting) |
47.9Mt @ 57.3% Fe (Channel Iron) 36.4Mt@ 57.1% Fe(Channel Iron) ** |
|
| Joint ventured with API Management Pty Ltd (50% Aquila Resources, 50% AMCI) and forms part of their West Pilbara Iron Ore Project[WPIOP]which comprises multiple JV’s. |
|||||
| Copper (+Gold) |
Inferred | Blanco Y Negro, Chile |
100% Helix | 1.4Mt @ 1.4% Cu for 20,000t Contained Cu + 0.5g/t for 23,000oz Au(at 0.4% Cu Cut-off)– 2012 JORC** |
|
| Copper | Inferred | Canbelego JV, NSW |
70%(Straits Contributing30%) |
1.5Mt @ 1.2% Cu for 18,000t* Contained Cu (at 0.3% Cu Cut-off) |
|
| Gold | Inferred | Restdown JV |
70% (Glencore Contributing30%) |
2.6Mt @ 1.2g/t Au for 100,000oz (0.3 g/t Au cut off) |
|
| Gold | Measured Indicated Inferred TOTAL Measured Indicated Inferred TOTAL** |
Tunkillia JV, SA |
28% (Diluting) |
4.9Mt @ 1.32 g/t – 209,000 oz Au 16.5Mt @ 1 g/t – 512,000 oz Au 5.6Mt @ 1 g/t – 173,000 oz Au 27.0Mt @ 1 g/t – 894,000 oz Au 4.9Mt @ 3.7 g/t – 563,000 oz Ag 16.5Mt @ 2.7 g/t – 1,412,000 oz Ag 5.6Mt @ 3.0 g/t – 545,000 oz Ag 27.0Mt @ 2.9 g/t – 2,543,000 oz Ag |
|
| Mungana Goldmines Ltd JV Manager and 72% JV participant. Mungana has submitted a Mining Lease application. Helix has elected to dilute, with our equity positionpresently28%-(subject to adjustment relatingto an R&D rebate to the Manager). |
Details of the assumptions underlying the above estimations are contained in previous ASX releases or at www.helix.net.au_ * _Refer to ASX announcement 20 November 2013 for Table 1 details and CP Statements
Competent Persons Statement
The information in this announcement that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr M Wilson who is a full time employee of Helix Resources Limited and a Member of The Australasian Institute of Mining and Metallurgy. Mr M Wilson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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 M Wilson consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
The information in this announcement that relating to previous reported Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr M Wilson who is a full time employee of Helix Resources Limited and a Member of The Australasian Institute of Mining and Metallurgy. Mr M Wilson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration 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’. Mr M Wilson consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Details of the assumptions underlying any Resource estimations are contained in previous ASX releases or at www.helix.net.au
Helix Resources Limited For Further Information please contact: Suite 7 / 29 Ord Street, West Perth WA 6005 Mick Wilson – Managing Director Telephone: +61 8 9321 2644 Fax: +61 9321 3909 Email: [email protected] www.helix.net.au Pasquale Rombola- Chairman Email: [email protected]
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, 01/05/2013
Name of entity
HELIX RESOURCES LIMITED
| ABN 27 009 138 738 |
Quarter ended (“current quarter”) |
|---|---|
| 27 009 138 738 | 30 June 2014 |
Consolidated statement of cash flows
| Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration & 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 paid 1.7 Environmental bond refund Environmental bond payment Research and development rebate Other (provide details if material) Net Operating Cash Flows |
Current quarter $A’000 |
Year to date (12 months) $A’000 |
|---|---|---|
| - (230) - - (173) - 8 - - 96 (80) - - |
- (1,984) - - (716) - 46 - - 96 (80) 506 63 |
|
| (379) | (2,069) | |
| Cash flows related to investing activities 1.08 Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets 1.09 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 Lodestone Equities Ltd instalment payment for Olary Magnetite Project Net investing cash flows 1.13 Total operating and investing cash flows (carried forward) |
- - - - - - - - - |
- - - - - - - - 175 |
| - | 175 | |
| (379) | (1,894) | |
| 1.13 Total operating and investing cash flows (brought forward) |
(379) | (1,894) |
| Cash flows related to financing activities |
- See chapter 19 for defined terms.
01/05/2013 Appendix 5B Page 1
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
| 1.14 Proceeds from issues of shares, options, etc. 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 Net financing cash flows |
765 - - - - - |
775 - - - - - |
|---|---|---|
| 765 | 775 | |
| 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 |
386 1,335 (10) |
(1,119) 2,840 (10) |
| 1,711 | 1,711 |
Payments to directors of the entity, associates of the directors, related entities of the entity and associates of the related entities
| 1.26 1.27 |
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 |
|---|---|---|
| 62 | ||
| - | ||
| 1.28 | Explanation necessaryfor an understandingof the transactions | |
| Directors’ fees and salaries - $62,000 |
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 | |
Financing facilities available
Add notes as necessary for an understanding of the position.
| 3.1 Loan facilities 3.2 Credit standby arrangements |
Amount available $A’000 |
Amount used $A’000 |
|---|---|---|
| - | - | |
| - | - |
- See chapter 19 for defined terms.
Appendix 5B Page 2
01/05/2013
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
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 |
| 320 | |
| - | |
| - | |
| 230 | |
| 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) |
1,711 | 1,335 |
| - | - | |
| - | - | |
| - | - | |
| Total: cash at end of quarter(item 1.22) | 1,711 | 1,335 |
Changes in interests in mining tenements and petroleum tenements
| Tenement reference and location |
Nature of interest (note (2)) |
Interest at beginning ofquarter |
Interest at end of quarter |
|
|---|---|---|---|---|
| 6.1 Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed |
EL7619, EL7961, EL8021, EL8108, EL8109, EL7566, Central NSW |
100% | 100% | 0% |
| 6.2 Interests in mining tenements and petroleum 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.
- See chapter 19 for defined terms.
01/05/2013 Appendix 5B Page 3
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
| 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 |
236,474,341 | 236,474,341 | ||
| 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs |
1,000,000 30,000,000 |
1,000,000 30,000,000 |
||
| 7.5 +Convertible debt securities (description) |
||||
| 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted |
||||
| 7.7 Options (description and conversion factor) |
34,929,853 | 34,929,853 | Exercise price $0.015 |
Expiry date 30 Sept 2014 |
| 7.8 Issued during quarter |
||||
| 7.9 Exercised during quarter |
1,000,000 | 1,000,000 | $0.015 | 30 Sept 2014 |
| 7.10 Expired during quarter |
||||
| 7.11 Debentures (totals only) |
||||
| 7.12 Unsecured notes(totals only) |
Compliance statement
- See chapter 19 for defined terms. Appendix 5B Page 4
01/05/2013
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
-
1 This statement h a s been pre p ared under a ccounting p o licies whic h comply wi t h acc o unting stan d ards as defi n ed in the C o rporations A ct or other s tandards ac c eptable to ASX (see not e 5).
-
2 This statement d o es give a tr u e and fair v iew of the m atters discl o sed.
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S i gn here: ............................................................ Date 24/07/2014 Comp a ny Secretar y
P r int name: Micha e l Naylor
Notes
-
1 The quarterly re p ort provide s a basis for i nforming t h e market ho w the entity’s acti v ities have b e en finance d for the past quarter and the effect o n its cash po s ition. An e ntity wanti n g to disclos e additional i nformation i s encouraged to do so, i n a note or n o tes attache d to this repo r t.
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2 The “Nature of i n terest” (ite m s 6.1 and 6.2) includes options in r e spect of int e rests in min i ng tenemen t s and petrol e um teneme n ts acquired, exercised o r lapsed dur i ng the reporting period. If the entit y is involve d in a joint v e nture agree m ent and th e re are con d itions prece d ent which w ill change i t s percentag e interest in a mining te n ement or petr o leum tene m ent, it shoul d disclose the change of p ercentage i n terest and con d itions prece d ent in the l i st required f or items 6.1 and 6.2.
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3 Issued and quoted securities The issue p rice and a m ount paid u p is not requ i red in items 7.1 and 7. 3 for fully p a id securities .
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4 The definitions i n , and provi s ions of, AA S B 6: Explo r ation for an d Evaluatio n of Min e ral Resour c es and AAS B 107: State m ent of Cas h Flows appl y to this rep o rt.
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5 Accounting Standards AS X will accept, for exampl e , the use of Internation a l Financial Repor t ing Standar d s for foreig n entities. If the standar d s used do n o t add r ess a topic, t he Australi a n standard on that topic ( if any) mus t be complie d with. == == == = = ==
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S ee chapter 19 for defined ter m s.
01/05/2013 Appendix 5B Page 5