MACRO METALS LIMITED — Interim / Quarterly Report 2016

Jan 24, 2016

Appendix 5B Kogi Iron Limited – September 2015 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.

==> picture [57 x 9] intentionally omitted <==

----- Start of picture text -----

Name of entity
----- End of picture text -----

==> picture [449 x 505] intentionally omitted <==

----- Start of picture text -----

Kogi Iron Limited
ABN Quarter ended (“current quarter”)
28 001 894 033 30 September 2015
Consolidated statement of cash flows
Current Year to date
Cash flows related to operating activities Quarter (3 Months)
$A’000 $A’000
1.1 Receipts from product sales and related debtors - -
1.2 Payments for (a) exploration and evaluation (126) (284)
(b) development - -
(c) production - -
(d) administration (62) (175)
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) - -
Net operating cash flows (188) (459)
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 - -
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) (188) (459)
----- End of picture text -----

• See chapter 19 for defined terms.

Appendix 5B Page 1

30/9/2001

Appendix 5B Kogi Iron Limited – September 2015 quarterly report

1.13 Total operating and investing cash flows (brought forward)	(188)	(459)
Cash flows related to financing activities 1.14 Proceeds from issues of shares/options (net of issue costs) 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 – Share issue costs Net financing cash flows	31 - - - - (3)	99 - - - - (20)
	28	79
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	(160) 321 -	(380) 541 -
	161	161

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
		80
		-
1.25	Explanation necessaryfor an understandingof the transactions
	Payments of director’s remuneration.

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

• N/A

• 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest

N/A

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

30/9/2001

Appendix 5B Kogi Iron Limited – September 2015 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
	116
	-
	-
	39
Total	155

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)	161	284
		37
	-	-
	-	-
Total: cash at end of quarter(item 1.22)	161	321

Changes in interests in mining tenements

	Tenement reference	Nature of interest (note (2))	Interest at beginning of quarter	Interest at end of quarter
6.1 Interests in mining tenements relinquished, reduced or lapsed	N/A	N/A	N/A	N/A
6.2 Interests in mining tenements acquired or increased	N/A	N/A	N/A	N/A

• See chapter 19 for defined terms.

Appendix 5B Page 3

30/9/2001

Appendix 5B Kogi Iron Limited – September 2015 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 (cents)	Amount paid up per security (cents)
7.1 Preference+securities (description) 7.2 Changes during quarter
7.3 +Ordinary securities 7.4 Changes during quarter (a) Increases through issues: (b) Decreases through returns of capital, buy- backs	377,669,836	376,669,836	-	-
7.5 +Convertible debt securities(description) 7.6 Changes during quarter
7.7 Options (description and conversion factor) Listed Options 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired/Lapsed during quarter	102,704,606	102,704,606	Exercise price 8 cents	Expiry date 31/05/2017
7.11 Debentures(totals only)
7.12 Unsecured notes(totals only)

• See chapter 19 for defined terms.

Appendix 5B Page 4

30/9/2001

Appendix 5B Kogi Iron Limited – September 2015 quarterly report

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 give a true and fair view of the matters disclosed.

Piers Lewis Company Secretary

Date: 25 January 2016

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 5

30/9/2001