MINBOS RESOURCES LIMITED — Interim / Quarterly Report 2015

Oct 29, 2015

Appendix 5B Mining exploration entity quarterly report

Appendix 5B

Rule 5.5

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

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MINBOS RESOURCES LIMITED
ABN Quarter ended (“current quarter”)
93 141 175 493 30 September 2015
Consolidated Statement of Cash Flows Current Quarter Year to Date
30-Sep-15 "3 Months"
$A’000 $A’000
Cash flows related to operating activities
1.1 Receipts from product sales and related debtors - -
1.2 Payments for
(a) exploration and evaluation (79) (79)
(b) development - -
(c) production - -
(d) administration (80) (80)
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 (159) (159)
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 (159) (159)
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• See chapter 19 for defined terms.17/12/2010 Appendix 5B Page 1

Appendix 5B Mining exploration entity quarterly report

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Consolidated Statement of Cash Flows Continued Current Quarter Year to Date
30-Sep-15 "3 Months"
$A’000 $A’000
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 (provide details if material) - -
Net Financing Cash Flows - -
Net increase in cash held (159) (159)
1.20 Cash at beginning of quarter/year to date 193 193
1.21 Exchange rate adjustments to item 1.20 - -
1.22 Cash at end of quarter 34 34
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Payments to directors of the entity, associates of the directors, related entities of the entity and associates of the related entities

entity and associates of the related entities
1.23 Aggregate amount of payments to the parties included in item 1.2 - Director Fees 1.24 Aggregate amount of loans to the parties included in item 1.10	Current Quarter $A'000
	6
	Nil
1.25 Explanation necessary for an understanding of the transactions

• 1.23 – $6,000 paid in Director Fees.

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
	N/A	N/A
	N/A	N/A

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

Estimated cash outflows for next quarter[(1) (2)]

Estimated cash outflows for next quarter(1) (2)
4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration	$A’000
	50
	-
	-
	150
Total	200

(1) Cash outflow will be minimal until Minbos complete some of its strategic initiatives.

• (2) The Company expects to receive USD$200,000 (AUD$270,000) from the disposal of its Kanzi project imminently (refer ASX announcement on 11 September 2015). The funds received will be sufficient to cover the Company’s estimated cash outflows for the next quarter.

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)	33	192
	1	1
	-	-
	-	-
Total: cash at end of quarter(item 1.22)	34	193

Changes in interests in mining tenements

6.1 Interests in mining tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements acquired or increased(1)	Tenement reference and location	Nature of interest (note(2))	Interest at beginning of quarter	Interest at end of quarter
	N/A	N/A	N/A	N/A
	N/A	N/A	N/A	N/A

(1) On 7 October 2015 the Company announced that the Angolan Ministry of Mines and Geology (MGM) had issued the new licence for the Cacata deposit. The new licence (014/04/09T.P/ANG.MGM.2015) has been issued for a five year period expiring on 25 September 2020 and is renewable for a further two years.

On 27 October 2015 the Company announced that the MGM had issued the new licence for the Chivovo, Chibuete, Ueca, Cambota and Mongo Tando Deposits (Remaining Deposits). The new licence (015/01/10/T.P/ANG.MGM.2015) has been issued for a five year period expiring on 14 October 2020 and is renewable for a further two years. The two new licences (Cacata and the remaining Deposits) replaces the previous exploration permit (006/06/01/L.P./GOV.ANG.MGM.2010).

• See chapter 19 for defined terms.17/12/2010 Appendix 5B Page 3

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)	Amount paid up per security (see note 3)
7.1 Preference +securities_(description)_ Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs, redemptions 7.2	-	-	-	-
	- -	- -	- -	- -
7.4 Changes during quarter (a) Increases through issues (b) Exercise of options (c) Decreases through return of capital, buy-backs (d)Increasepursuant to underwritingof options 7.3 +Ordinary securities	1,367,149,881	1,367,149,881	-	-
	- - - -	- - - -	- - - -	- - - -
7.6 Changes during quarter (a) Increases through issues (b)Decreases through securities matured,converted 7.5 +Convertible securities	-	- - -	- - -	- - -
	- -
7.7 Options_(description and conversion factor)_ Placement Options; no vesting period Director Options; no vesting period Consultancy Options; no vesting period Conversion of Convertible note; no vesting period Conversion of Convertible note; no vesting period Consideration for Convertible Security; no vesting period 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	1,150,000 88,333,333 30,000,000 100,000,000 83,333,332 10,000,000 312,816,665	- - - - - -	Exercise price $0.0937 $0.01 $0.01 $0.01 $0.01 $0.01	Expiry date 08/03/2016 30/12/2016 30/12/2016 30/12/2016 30/12/2016 30/12/2016
	-	-	-	-
	-	-	-	-
7.11 Debentures_(totals only)_	-	-	-	-
7.12 Unsecured notes (totals only)	-	-	-	-

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity 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 5).

• 2 This statement does give a true and fair view of the matters disclosed.

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Sign here: Company Secretary Date: 30 October 2015 Print name: STEF WEBER

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 and petroleum 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 or petroleum 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.

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• See chapter 19 for defined terms.17/12/2010 Appendix 5B Page 5