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KGL RESOURCES LIMITED — Interim / Quarterly Report 2011
Oct 30, 2011
65179_rns_2011-10-30_cb1d8173-7c8f-43a8-9892-b35f63981459.pdf
Interim / Quarterly Report
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31 October 2011
Kentor Gol d (ASX: KG L ) is an Australian-b a sed, emer g ing midtier gold co m pany with a dvanced projects in Australia and the Kyrgyz Rep u blic. Formed in 1 998 and list e d on the ASX in 2 005, the Company expects to c ommence h i gh grade gold produ c tion at Burnakura in Western A u stralia in m id-2012, with potential additional goldcopper p r oduction fr o m the neighbourin g Gabanintha deposit. At Jervois in the Northern Territory, th e Company i s studying the feasibilit y of developing a large, high grade copper-silver resource with potenti a l for the pro d uction of gold and other base meta l s. In the Kyr g yz Republi c , Kentor Gold is rea d y to procee d with the development of the C o mpany’s 80% owned high grade, very low cost Andash Gold-Copp e r Project once site access h a s been obtained. A ndash is ta r geted to produce 70, 0 00 oz gold a nd 7,400 tonnes cop p er pa for an initial six years, wit h high pot e ntial for expansion.
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Issued capital:
1,062.1 milli o n ordinary s h ares 63.6 million u nlisted optio n s
Market Capitalisation
28 October 2 011: $103 m i llion
Quarterly Activities Report Period Ending 30 September 2011
Australia
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Burnaku r a: Progress towards firs t gold produ c tion S u ccessful tri a l start-up of processing p lant Preparing initi a l mining sc h edule F e asibility stu d y underway
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Jervois: Outstanding drill re s ults reinfo r ce major copper-silver mine p o tential, with gold and ot h er metals
Kyrgyz Republic
- Moving towards lo c al approv a l for site access to develop the low cos t , high grad e Andash G o ld-Copper Project
Quarterly Overview
During the quarter, Kentor G o ld Limited ( “Kentor Gold” or “the Compa n y”) advanc e d towards i t s goal of br i nging three mines into product i on over t h e next thr e e years, c ommencin g with the Burnak u ra Gold Mi n e.
The Au s tralian proj e cts were s e cured with t he acquisiti o n of Jinka Mineral s Limited in May 2011 and were t h e subject o f intensive plannin g and explor a tion. At Bur n akura, a f e asibility stu d y included mine plan n ing and a succes s ful trial rest a rt of the existing plant. The power s tation has been r e started and all of the e xisting equ i pment at t h e site has been st a rted includi n g the ball m ill.
At Jerv o is, drilling has produce d a continuin g stream of high grade copper- s ilver result s , and confir m ed the pre s ence of lea d , zinc and gold. A major multi - metal proje c t is now em e rging from t he drilling. High gr a de minerali s ation is bei n g extende d to depths hundreds of metres below the current Reso u rces, and s ignificant in t ersections are bei n g encount e red along t h e 12km st r ike length o utside the four currently iden t ified deposits on whi c h the Res o urces are calculat e d.
At And a sh in the Kyrgyz Republic, progr e ss was m a de in the securin g of local approval for the Company to access t h e site and begin d evelopment of this extremely low c ost, high grade goldcopper p roject.
Kent o r Gold Limited
w w w.kentorgol d .com.au
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Burnakura Gold Project, WA (Kentor Gold 100%)
Initial Inferred Reso u rce of 10.6 million tonn e s @ 1.5 g/ t gold for a t o tal of 516, 0 00 gold at a 0.5 g/t cut off. Inc l udes a high grade component of 3.2 million tonnes @ 2.9 g/t for 298,00 0 oz gold at a 1.5 g/t cut off.
During t he quarter, Kentor Gol d proceeded with a program to re-start producti o n at Burna k ura where open cut gold minin g ceased in 1998 when t he price of g old was U S $440 an ou n ce. The d e velopment progra m comprises t he recomm i ssioning of e xisting pro c essing plan t , the install a tion of additional plant, a feasibility study in c luding mine planning, a n d an explor a tion drilling program.
A contr a ct was awarded for the refurbishm e nt and rec o mmissionin g of the pla n t at Burnak u ra and for the dis m antling of p lant and e q uipment fr o m the Inde e gold mine and transp o rting it ap p roximately 400km to Burnakur a .
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Fig. 1 Gold Room being removed from the Indee Plant
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Fig. 2 Carbon columns from Indee arriving at Burnakura
The CI P plant at Burnakura is being reco m missioned and expan d ed, with a t hroughput o f 250,000 tonnes a year bein g targeted a s stage one of the exp a nded opera t ion. Curre n t planning a nd design work at Burnakura i s taking into a ccount a fu t ure stage t w o target of 5 00,000 ton n es a year.
As part o f the reco m missioning, the power s t ation and the existing plant at Burn a kura were s u ccessfully re-activ a ted without any signific a nt problem s . The carbon tanks hav e been dis m antled and r emoved to make w a y for the fu t ure constru c tion of thre e new larger leach tanks.
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The pla n t and equi p ment from I n dee, acqui r ed for $1.3 million, arriv e d at Burna k ura during t he quarter and wa s placed in t he laydown yard. The u pgraded Burnakura pla n t will now have a carb o n stripping plant a n d gold roo m relocated f rom Indee e nabling gol d production on site. R e placement of existing adsorption tanks with larger capacity leach t a nks and c o nversion to a full CIL cir c uit will ens u re optimal plant performance.
A 60-hole air core drilling progr a m was und e rtaken late in the quart e r to test str u ctural targe t s adjacent to the m agnetic an o maly appro x imately 2 k m north of t h e existing N OA open p its. Assay r e sults from this ex p loration drilling will be a vailable ea r ly in the D e cember quarter. An 8 ,000-metre RC drilling progra m will commence in November to infill and increa s e the confid e nce in the a reas where production is plann e d to comm e nce.
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Fig. 3 Air Core Drilling at Burnakura
Gabanintha Gold-Copper Project, WA (Kentor Gold 100%)
Initial In f erred Reso u rce of 4.5 m illion tonne s @ 1.4 g/t gold for a tot a l of 203,00 0 gold at a 0. 5 g/t cufoff. Include s a high gra d e compone n t of 1.3 mill i on tonnes @ 2.9 g/t for 121,000 oz g old at a 1. 5 g/t cut off. Resour c e also inclu d ed 450,000 tonnes @ 0 .5% copper.
At Gab a nintha, 25k m to the north-east of B u rnakura, th e focus was o n explorati o n to increase the goldcopper R esource. A HeliTEM a irborne ge o physical su r vey was undertaken lat e in the qu a rter with a view to f inalising a drilling progr a m.
Open pi t gold minin g ceased at G abanintha i n 1991 bec a use copper was encou n tered, not b e cause ore ran out. All six of the pits at Ga b anintha, ov e r a strike l e ngth of 2.4km, were mi n ed for gold t o the base of oxida t ion and ha v e gold and c opper at th e base. Mo s t of the curr e nt Inferred Resource is within 100 metres o f the surfac e , and the m ineralisatio n remains op e n at depth.
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Fig. 4 HeliTEM Survey - Gabanintha
Jervois Multi-Metals Project, NT (Kentor Gold 100%)
Initial Inferred Reso u rce of 8.8 m illion tonn e s @ 1.3% c opper and 2 6.7 g/t silver for a total of 113,000 tonnes c opper and 7.6 million o z silver. R e source incl u des 1 milli o n tonnes @ 2.6% lead, 2.2% zinc and 73 g /t silver co n tained withi n the copper mineralisati o n at Green Parrot and B ellbird Nort h deposits. Intensiv e drilling du r ing the qua r ter has con f irmed the p otential for J ervois to b e a major c o pper-silver mine, w i th the signif i cant presen c e of gold a n d other metals. The Co m pany aims to apply th e results of t h e drilling in upgrading a nd increasi n g the maid e n Inferred Resour c e, announc e d for Jervoi s last July, w hich extend s over four deposits ove r 12km strik e .
The firs t three dia m ond drill h o les intersec t ed signific a nt copper and silver m i neralisation below the existing Resource a t the Rewa r d Deposit, w ith the be s t result 8.1 m @ 2.56 % copper an d 14.55 g/t silver.
A furth e r hole ide n tified new c opper-silve r -gold mine r alisation b e tween the previously e stablished Resour c es at the B e llbird and B ellbird Nort h Deposits, r eturning 6 m @ 3.18% c opper, 23. 5 5 g/t silver and 0.4 5 g/t gold from 59m.
Further d iamond drilling continu e d to indicat e high grade mineralisati o n below th e Reward D e posit. The best re s ult was 72 m @ 3.27% copper, 51. 3 3 g/t silver and 1.16 g/t gold from 414m dow n hole, the estimat e d horizonta l true width b eing 16m. Assays up to 8.8% co p per, 276 g/ t silver and 19 g/t gold were re c orded from individual s a mples.
31 October 2011
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Fig. 5 Drill core from hole RJ169
The fin a l results of t h e diamond drilling prog r am, announced in Octo b er, continu e d to confirm significant minerali s ation belo w the Rew a rd and Gr e en Parrot Deposits a n d north of the Bellbird Deposit. Individu a l copper a s says of mo r e than 8% a t Green Parrot and 6% at Bellbird w ere record e d, while a lead as s ay of over 20% was rec o rded at Gr e en Parrot.
A progr a m of Reve r se Circulati o n (RC) drilling was also undertaken to gain a n understan d ing of the potential for mineralisation on structural feat u res interpr e ted from a g round base d geophysical program underta k en in 2010 . Encouraging anomalous results i n dicate the m ineralised p otential of t he Jervois project a rea.
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During t he quarter, the Compa n y continued with a sco p ing study into the deve l opment of a n open pit mine and flotation plant to produce a copper concentrate.
Kyrgyz Republic
Andash Gold-Copp e r Project (K e ntor Gold 8 0 %)
Andash has an est i mated JOR C Ore Res e rve of 539, 7 30 oz gold and 63,486 tonnes copper, and a Resour c e of 19.2 m i llion tonnes @ 1.1 g/t g o ld and 0.4 % copper for 6 79,023 oz g old and 77, 3 00 tonnes copper.
Negotia t ions at community level continued during the quarter, aimed at achievin g local appr o val for site access s o that cons t ruction of the project ca n commenc e .
As soo n as this oc c urs, geotec h nical inves t igations will be comple t ed and the 12-month c o nstruction progra m will procee d .
Andash is planned a s a simple a nd conven t ional open p it and flotation operatio n averaging production of a sin g le concentr a te containi n g 70,000 o z gold and 7 , 400 tonnes copper a ye a r for an initial six-year mine lif e , with stron g potential for expansion and extensi o n.
Expect e d to be one of the world ’ s lowest co s t gold mine s , Andash is forecast to h ave an esti m ated total cost of US$29 an ounce, afte r copper cr e dits and r o yalty paym e nts, based on a copp e r price of US$2.7 5 a pound.
Court P r oceedings
During t he quarter, the Chui R e gional Cou r t confirmed in writing its decision i n favour of t he Kyrgyz General Prosecutor in a case b e tween the G eneral Pro s ecutor and the former m inority partners in the Andash project. T h e decision r equired Ke n tor Gold to re-register t he Andash Mining Co m pany as a company 100% ow n ed by Kent o r Gold’s wh o lly owned subsidiary Kaldora, and t h en requires Kaldora to make a n offer to sel l the 20% interest to the K yrgyz Gov e rnment.
This co u rt action ha s no effect o n the 80% o f Andash Mi n ing Compa n y held by K e ntor Gold.
Bashkol Exploration Licence (K e ntor Gold 8 0 %)
Kentor G old Limited has now c o mpleted th e 2011 expl o ration progr a m at Bekb u laktor, on t h e Bashkol Explora t ion Licence . Results will be release d to the mar k et early in t h e next quar t er as soon a s all of the fire ass a y results have been rec e ived. The p rogram of b edrock cha n nel samplin g , geophysi c s, and soil samplin g was undertaken to gai n a deeper u nderstanding of the pot e ntial of a la r ge zone of m ineralised granite t hat was stu d ied in the 2 0 09 and 2010 field seas o ns.
The pro g ram established the pr e sence of wi d espread gold and copp e r mineralis a tion over an area 2 km long an d 1 km wide. Much of t h e area is c o vered by s c ree and alluvial sedime n ts. The mi n eralisation is open in three dire c tions.
The mi n eralisation is containe d within gr a nites and g ranodiorite s of the Pr o terozoic a g e Saryjaz intrusiv e . Structur a lly, the intr u sive lies within the Mi d dle Tien Shan tectoni c unit, adja c ent to the Nikolae v Line whic h separates Northern a nd Middle T ien Shan tectonic unit s . The mi n eralisation appear s to be asso c iated with steeply dippin g fractured z ones within the granite a nd granodi o rite.
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Fig. 6 Channel Sampling Outcrop at Bekbulaktor, Northern Zone
Bekbul a ktor prospe c t, in the north-west of t he Kyrgyz R epublic, is situated at a n altitude o f 3,400 to 3,800 m etres on bo t h sides of t h e Bekbulak t or Stream i n the Tersk e y Ala-Too R ange of the Tien Shan Mountains. The pr o spect is 6 k m from a m ajor road u sed for acc e ss to the S aryjaz Vall e y and the Inylche k tin deposit s . The area has no per m anent settl e ments. Th e Bekbulakt o r Stream is not part of the sen s itive Issykk u l catchment.
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Figure 7. Location of the Bekbulator Gold Prospect
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Kent o r Gold Limited
w w w.kentorgol d .com.au
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Geothe r mal Energy
Kentor G old was pr e viously inv o lved in inve s tigating ge o thermal energy resourc e s in Central Asia. This work w a s not pursu e d due to th e low power prices prev a iling in the region. Two years ago, a review of conventional, volca n ic related p rojects in t h e South P a cific was c o nducted. T h e review f o cussed on regions which were not connec t ed to coal f ired, grid p o wer but so u rced their e nergy from expensive diesel g e nerators.
The re v iew found that Savo I s land in the Solomon I s lands was t he best pr o ject availa b le and an applicat i on was lod g ed for a Ge o thermal En e rgy Licens e . It now ap p ears that th i s license is likely to be granted .
Kentor G old made t he applicati o n using a 1 00% owne d subsidiary Kentor Ene r gy. When appropriate, Kentor G old plans t o divest Ke n tor Energy i n to a separately self-funded entity to add valu e to Kentor Gold sh a reholders.
Corporate
Kentor G old maintained a stron g financial p o sition with a cash reser v e of $40.7 m illion at 30 S eptember 2011 a n d an undra w n $50m M a cquarie Ba n k debt facility to apply to the deve l opment of t h e Andash project.
Outlook
During t he current q uarter, the C ompany pl a ns to com p lete the fea s ibility stud y and mine p lan for the Burnak u ra gold proj e ct.
Revers e Circulation drilling will b e undertak e n at Burna k ura and Ga b anintha wit h the aim of increasing the curr e nt resources. The Co m pany is w o rking towar d s an upgra d ed Resour c e estimate for Jervois a s the outst a nding drill results o f 2011 are t a ken into ac c ount.
In the K y rgyz Repu b lic, progres s will be mai n tained tow a rds local ap p rovals to e n able site access at the Andash Gold-Copp e r Project so that the 12- m onth const r uction prog r am can co m mence.
For further information contact:
Mr Sim o n Milroy Managi n g Director Phone: ( 07) 3121 3 2 06 Email: info@kento r gold.com.a u
Mr. David Waterhouse Investo r Relations Phone ( 0 3) 9670 50 0 8 Email: [email protected]
31 October 2011
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Kent o r Gold Limited
w w w.kentorgol d .com.au
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Appendix 1 KGL Group Resources
| Tonnes (mt) | Grade Au g/t |
Grade Cu% |
Grade Ag g/t |
Gold (oz) | Copper (t) | Silver (Oz) | |
|---|---|---|---|---|---|---|---|
| Andash Jervois Burnaku Gabanin Sulphide ra tha |
0.38 8.8 10.6 4.5 |
0.93 1.5 1.4 |
0.25 1.3 |
26.7 | 11,350 516,000 203,000 |
950 113,000 |
7,600,00 0 |
| Total Inf erred Resources |
2 4.28 |
730,350 | 113,950 | 7,600,00 0 |
|||
| Andash Andash Oxide Sulphide |
1 0.81 4.31 |
0.85 1.11 |
0.43 0.38 |
22,136 510,507 |
3,510 54,260 |
||
| Total Ind icated Resource s |
1 5.12 |
532,643 | 57,770 | ||||
| Andash Andash Oxide Sulphide |
0 .923 3.16 |
0.88 1.21 |
0.5 0.47 |
26,114 122,932 |
4,638 14,900 |
||
| Total M easured Resourc es |
4.08 | 149,046 | 19,538 | ||||
| Total Re sources |
4 3.48 |
1,412,039 | 191,258 | 7,600,00 0 |
Gabanint h a and Burnakurra Resources a s quoted at a c ut-off grade of 0.5g/t Au. Jervois R e source is based on cut-off grades 0.2% to 0. 5 % Cu Kentor G o ld own 80% of t he Andash project
31 October 2011
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Kent o r Gold Limited
w w w.kentorgol d .com.au
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Competent Persons Statements
The infor m ation in this r eport that rel a tes to mineral resource esti m ation for Gabanintha and Burnakura is b a sed on work complete d by Mr Jonath o n Abbott who is a full-time e m ployee of Hell m an & Schofiel d Pty Ltd and a member of th e Australasian Institute o f Mining and M e tallurgy. Mr A bbott has suffi c ient experienc e which is relevant to the style of mineralisati o n and type of deposit u n der considerat i on and to the a ctivity which h e is undertakin g to qualify as a Competent P e rson as defined in the 2004 Edition of the ‘Australasi a n Code for Re p orting of Exploration Results, Mineral Resources and Ore R e serves’. Mr Abbott consents to the incl u sion in the rep o rt of the matters based on hi s information in t he form and context in which i t appears.
The data in this report th a t relates to Mi n eral Resource Estimates for J e rvois is based on information evaluated by M r Simon Tear who is a M ember of The A ustralasian In s titute of Minin g and Metallurg y (MAusIMM) a n d who has suf f icient experience relevant to the style o f mineralisation and type of d eposit under c onsideration a nd to the activity which he is undertaking t o qualify as a Compete n t Person as d efined in the 2 004 Edition o f the Australa s ian Code for Reporting of E xploration Re s ults, Mineral Resource s and Ore Re s erves (the “J O RC Code”). M r Tear is a full-time employ e e of Hellman & Schofield Pt y Ltd and he consents t o the inclusion in the report of the Mineral Re s ource in the form and context in which they a ppear.
The Resource estimates for Andash in this report ar e based on inf o rmation compiled by Dr. Phil Newall, who i s a Chartered Engineer a nd Fellow of t h e Institute of M aterials Minerals and Mining and a full time e m ployee of Wa r dell Armstrong International. Dr. Newall has sufficient e xperience whi c h is relevant t o the style of th e mineralisation and the type o f deposit under consideration and to th e activity to whi c h he is undertaking, to qualify as a Compete n t Person as defined in the 20 0 4 Edition of th e Australasian Code for R eporting of E x ploration Results, Mineral Re s ources and O r e Reserves. Dr. Newall has c onsented to the inclusion of this infor m ation in the for m and context i n which it appe a rs in this report.
The Jervois drilling results in this report are based on i n formation com p iled by Rudy L ennartz, who i s a member of t he Australian Institute o f Mining and M e tallurgy and a full time emplo y ee of Jinka Minerals Ltd. Mr. Lennartz has s ufficient experi e nce which is relevant t o the style of the mineralisation and the t y pe of deposit under consid e ration and to the activity to which he is undertaki n g, to qualify a s a Compete n t Person as d efined in the 2004 Edition o f the Australa s ian Code for Reporting of Exploration Results, Min e ral Resources and Ore Rese rv es. Mr. Lennartz has consen t ed to the inclu s ion of this info r mation in the form and c ontext in whic h it appears in t h is report.
31 October 2011
Pag e 10 of 10
Appendix 5B Mining exploration entity quarterly report
Rule 5.3
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 | ||||
|---|---|---|---|---|
| Kentor Gold Limited | ||||
| ABN 52 082 658 080 Consolidated statement of cash flows |
||||
| 30 Sept 2011 | ||||
| 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 paid 1.7 Other (provide details if material) Foreign Exchange differences NetOperating Cash Flows |
Current Quarter $A’000 |
Year to date (9 months) $A’000 |
||
| (1,249) (2,620) (1,107) - 58 - - - - |
(1,545) (13,779) (2,451) - 1,033 - - - - |
|||
| (4,918) | (16,742) | |||
| Cash flows related to investing activities 1.8 Payment for purchases of: (a)prospects (b)equity investments (c) purchase options (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 (carried forward) |
(1,003)* - (56) - 465 - - - |
(13,410) - (1,443) - 465 - - - |
||
| (594) | (14,388) | |||
| (5,512) | (31,130) |
-
Acquisition costs on Jinka post 30[th] June 2011
-
See chapter 19 for defined terms.
Appendix 5B Page 1
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Appendix 5B Mining exploration entity quarterly
| 1.13 Total operating and investing cash flows (brought forward) |
(5,512) | (31,130) |
|---|---|---|
| Cash flows related to financing activities 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 (Capital raising costs) Net financing cash flows |
- - - - - - |
- - - - - (300) |
| - | (300) | |
| 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 |
(5,512) 43,715 2,537 |
(31,430) 71,364 806 |
| 40,740 | 40,740 |
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 |
|---|---|---|
| 137 | ||
| - | ||
| 1.25 | Explanation necessaryfor an understandingof the transactions | |
| Remuneration and expenses paid to executive and non-executive directors for the quarter. |
Non-cash financing and investing activities
| 2.1 2.2 |
Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows |
|---|---|
| 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
31/10/2011
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 $A’000 |
Amount used $A’000 |
|---|---|---|
| - | - | |
| - | - |
Estimated cash outflows for next quarter
| 4.1 Exploration and evaluation 4.2 Development 4.3 Admin |
$A’000 |
|---|---|
| 1,509 | |
| 2,910 | |
| 971 | |
| Total | 5,390 |
Reconciliation of cash
| Total Reconciliation of cash |
5,390 | |
|---|---|---|
| Reconciliation of cash at the end of the quarter (as | Current Quarter | Previous Quarter |
| shown in the consolidated statement of cash flows) to | $A’000 | $A’000 |
| the related items in the accounts is as follows. | ||
| 5.1 Cash on hand and at bank |
33,116 | 33,891 |
| 5.2 Deposits at call |
7,624 | 9,824 |
| 5.3 Bank overdraft |
||
| 5.4 Other (provide details) |
||
| Total: cash at end of quarter(item 1.22) | 40,740 | 43,715 |
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.
Appendix 5B Page 3
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Appendix 5B Mining exploration entity quarterly
| 6.2 Interests in mining tenements acquired or increased 6.2 Interests in mining tenements acquired or increased |
PL(A)51/2656 PL(A)51/2690 PL(A)51/2693 PL(A)51/2694 PL(A)51/2695 EL(A)51/1444 PL 20/2156 PS 20/2157 |
Gabanintha Gabanintha Gabanintha Gabanintha Gabanintha Gabanintha Burnakura Burnakura |
Granted Granted Granted Granted Granted Granted Granted Granted |
|
|---|---|---|---|---|
- See chapter 19 for defined terms.
Appendix 5B Page 4
31/10/2011
Appendix 5B Mining exploration entity quarterly report
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 |
1,062,092,950 | |||
| 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) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter |
63,611,358 | Unlisted Options |
Exercise price | Expiry date |
| 500,000 500,000 500,000 500,000 250,000 250,000 |
Unlisted Options |
12.56c 15.07c 14.55c 17.46c 11.37 13.65 |
Expiry 01/07/2016 Expiry 01/07/2016 Expiry 30/05/2016 Expiry 30/05/2016 Expiry 25/07/2016 Expiry25/07/2016 |
|
- See chapter 19 for defined terms.
Appendix 5B Page 5
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Appendix 5B Mining exploration entity quarterly
| 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 4).
-
2 This statement does / ~~does not*~~ (delete one) give a true and fair view of the matters disclosed.
Sign here: ............................................................ Date: 31/10/2011.............. ( ~~Director/~~ Company secretary) Print name: ...Kylie Anderson......................................................
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.
== == == == ==
- See chapter 19 for defined terms.
Appendix 5B Page 6
31/10/2011