LEFROY EXPLORATION LIMITED — Interim / Quarterly Report 2017

Jan 26, 2017

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

Name of entity
LEFROY EXPLORATION LIMITED
ABN 71 052 123 930	Quarter ended (“current quarter”)
	31 DECEMBER 2016
Consolidated statement of cash flows	Current quarter $A’000	Year to date (Six 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	(219) (85) (205) 7 13	(283) (124) (233) 7 60
	(489)	(573)
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 2.2 Proceeds from the disposal of: (a) property, plant and equipment	(8) (15)	(8) (15)

• 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 (Six months) $A’000
(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	331	331
	308	308
3. Cash flows from financing activities 3.1 Proceeds from issues of shares 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	4,000 (584)	4,000 (687) 150
	3,416	3,463
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	14 (489) 308 3,416	52 (573) 308 3,463
	3,249	3,249

• See chapter 19 for defined terms 1 September 2016

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					Appendix	5B	5B
	Mining exploration entity and oil andgas exploration entity quarterly report
5.	Reconciliation of cash and cash Current quarter				Previous quarter
	equivalents $A’000				$A’000
	at the end of the quarter (as shown in the
	consolidated statement of cash flows) to the
	related items in the accounts
5.1	Bank balances	3,249			14
5.2	Call deposits		-			-
5.3	Bank overdrafts		-			-
5.4	Other (provide details)		-			-
5.5	Cash and cash equivalents at end of	3,249			14
	quarter (should equal item 4.6 above)
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				61
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
Note	6.1 Managing Directors remuneration for period 1 October 2016	to 31	December 2016
7.	Payments to related entities of the entity and their				Current quarter
	associates				$A'000
7.1	Aggregate amount of payments to these parties included in item 1.2				25
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
Note	7.1 Rental and Office Management Fees payable to Taurus SM	Holdings Pty Ltd (“Taurus”).

• See chapter 19 for defined terms 1 September 2016

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			Appendix	5B	5B
	Mining exploration entity and	oil andgas exploration entity quarterly report
8.	Financing facilities available	Total facility amount	Amount drawn at
	Add notes as necessary for an	at quarter end	quarter end
	understanding of the position	$A’000	$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.

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 (provide details if material) 9.7 Total estimated cash outflows	564 - - 158 140 113
	975

• See chapter 19 for defined terms 1 September 2016

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Appendix 5B Mining exploration entity and oil andgas exploration entity quarterly report	Appendix 5B Mining exploration entity and oil andgas exploration entity quarterly report	Appendix 5B Mining exploration entity and oil andgas exploration entity quarterly report	Appendix 5B Mining exploration entity and oil andgas exploration entity quarterly report	Appendix 5B Mining exploration entity and oil andgas exploration entity quarterly report	Appendix 5B Mining exploration entity and oil andgas exploration entity quarterly report
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 ( refer tenement schedule attached to Quarterly Activities Report)	E26/0183 E26/0184 E 26/0131 E 26/0134 E 26/0150 P 26/3689 P 26/3690 P 26/3691 P 26/3764 P 26/3765 P26/3889 P26/3890 P26/3891 P 25/2059 E 25/0517 E15/1447 P25/2316 P25/2317 E25/518 E63/1777 P25/2421	Granted tenements at the Lefroy Project (WA) acquired with the acquisition of Hogans Resources Pty Ltd by LEX. Granted Exploration Licence at the Lefroy Project (WA) purchased from Montezuma Mining Company Ltd Granted tenements at the Lefroy Project Purchased from Kevin Laccos. Granted Tenement at Lake Johnston (WA) where LEX has acquired the gold and Nickel rights from LIT. Tenement Application , Lefroy Project (WA)	0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0	100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100

• 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

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.

Sign here: Date: .....27 January 2017.

(Managing Director)

Print name: .WADE JOHNSON........................................................

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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