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MINREX RESOURCES LIMITED — Interim / Quarterly Report 2015
Jul 28, 2015
65375_rns_2015-07-28_12905c9d-4949-4c5a-93f1-b2f222b00f27.pdf
Interim / Quarterly Report
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Quarterly Activities Report for the Period Ended 30 June 2015
HIGHLIGHTS
-
On 8 July 2015 MinRex announced plans to change its activities and acquire 100% of the issued capital of Hello Real Estate Limited for $6.75 million in issued capital.
-
The proposed change in activities and acquisition is subject to due diligence, formal agreement and MinRex shareholder and regulatory approvals.
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A detailed soil sampling program was completed at the Deflector Extended Gold Project – along strike from the Doray Minerals Deflector Project in April 2015.
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A regional panned concentrate, stream sediment sampling program was carried out at the Heemskirk Tin Project during April 2015 – assay results are awaited.
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At the end of the June 2015 Quarter the Company had available cash of $1.526 million.
About MinRex
MinRex Resources NL (“MinRex”) is an exploration company, listed on the Australian Securities Exchange, with its principal focus being the exploration and development of gold, base metal and tin projects in Australia.
MinRex holds two tenements, being the Deflector Extended Gold Project at Gullewa in Western Australia and the Heemskirk Tin Project in Tasmania (Figure 1). MinRex’s Deflector Extended Gold Project is along strike from Doray Minerals Limited’s Deflector Gold Project (Doray Minerals has recently taken over Mutiny Gold Limited) where planning is underway to recommence mining and treatment at this gold/copper deposit (Figure 2).
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Figure 1: Location of MinRex Project Areas
Quarterly Activities Report for the Period Ended 30 June 2015
Deflector Extended Gold Project
The Deflector Extended Gold Project lies along a north-eastern extension of the Deflector mineralisation trend at the Gullewa Mining Centre. Doray Minerals Limited operates the Deflector Gold Project, which lies about 5km to the SW of the MinRex tenement (E59/1657) (Figure 2).
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Figure 2: Mutiny (Doray) plan showing prospects along trend towards MinRex’s E59/1657
The Deflector Extended Gold Project area is predominantly covered by transported soil, colluvium and alluvium; which effectively conceal any mineralisation present. The area has historically been examined by regional soil geochemistry, rock chip sampling and limited RAB and AC drilling. The early geochemistry and drilling that shows some anomalous gold values within the tenement. However, previous soil sampling programs in E59/1657 did not include the along strike position from the Deflector deposit; although, wide-spaced RAB and aircore drilling was carried out in the past and a number of anomalous drill samples were returned from the area: including, 1m at 0.36ppm gold from 29m depth and 3m at 0.28ppm gold from 17m depth, both in aircore holes. The structure also lies in an area of little outcrop, runs along what seems to be a lithological boundary and/or a fault, and is also in proximity to the buried Salt Creek Fault – an interpreted major structure which lies below the alluvial sediments of Salt Creek. There are also two small circular magnetic highs in the area, of unknown provenance.
In the June Quarter, it was decided to test for gold mineralisation with a detailed soil sampling program, comprising samples collected at 50m spacing along lines at 200m intervals, across the structure and along its entire length within the MinRex tenement (Figure 3). The work was completed in April 2015. In all, 76 samples were collected along nine lines, with these numbered DES001 – 076. The samples were taken from about 10cm depth and averaged about 1kg each in weight. Observations were made on the surface soil, scree and vegetation cover and probable underlying geology – most of the area is covered with red clay colluvium and abundant cobbles of metabasalt (mafic volcanic rocks), and hence the underlying geology is rarely visible.
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Quarterly Activities Report for the Period Ended 30 June 2015
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Figure 3: Plans showing the soil sample locations, geology, copper and arsenic results
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Quarterly Activities Report for the Period Ended 30 June 2015
The samples were analysed at the Bureau Veritas Laboratory at Canning Vale, in Perth, where they were pulverised and a 40gm subsample digested by Aqua Regia and analysed for gold, silver, arsenic, molybdenum, lead and zinc by Inductively Coupled Plasma Mass Spectrometry (ICP-MS) and for copper and nickel by Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES).
The soil sample assay results are generally low, with highest results of 8ppb for gold, 0.05ppm for silver, 15.6ppm for arsenic, 1.4ppm for molybdenum, 18ppm for lead, 52ppm for copper, 56ppm for nickel and 38ppm for zinc – the full results are in the table below (Table 1). The maximum value for gold is 8ppb, which compares with earlier soil sampling results of up to 40ppb within the tenement, with only 8 out of 142 previous samples being this high. However, all of the best gold values in the earlier scout drilling are in the soil sampling area. The maximum copper value of 52ppm is in the upper range of all previous results with an earlier maximum of 68ppm from a total of 142 previous samples within the tenement. Earlier anomalous copper results in drill-holes were up to 460ppm and also fall mostly in this area.
When the results for copper and arsenic (used as a proxy for gold) are plotted onto contour plans, there is an overlapping coincidence of the highest values in an approximately 400x100m zone (Figure 3). There is also a clear suggestion that the highest values lie close to the interpreted geological contact between the mafic metabasalt and felsic metasedimentary rock types and trend parallel to this contact. Vein quartz fragments and occasional outcrops are also seen along this trend line, possibly indicating faulting, and these provide a target for further rock sampling programs.
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Figure 4: Mutiny (Doray) plan of Deflector deposit on contact of mafic and sedimentary rocks
Metasedimentary rocks have not been noted in this area in any of the previous geological mapping work. The presence of these metasedimentary rocks demonstrates that this area probably lies along strike from the Deflector copper/gold deposit and occupies the same geological setting along the contact of metamafic and metasedimentary rocks and adjacent to the buried Gearless Well granite intrusion (Figure 4).
The results are seen as interesting, as they demonstrate a concurrence of the highest copper and arsenic values, the geological contact and a possible fault zone, all within the same structure as the Deflector deposit. Further work is largely on hold until the proposed change in activities and acquisition are voted on by shareholders.
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Quarterly Activities Report for the Period Ended 30 June 2015
Heemskirk Tin Project
The Heemskirk Tin Project (E18/2011) is located in north-western Tasmania, to the WNW of the town of Zeehan. MinRex has been exploring the Heemskirk Tin Project for tin-tungsten mineralisation through 2012-15. Previously, rock chip and stream sediment samples were collected from multiple small deposits of tin, tungsten and base metals in the granitic rock sequences in the area; and a panned stream sediment sampling exercise was also completed in the Area A quadrant in 2012 (Figure 5). The panned concentrate stream sediment sampling has now been continued, with the Areas B and C being sampled in the June Quarter 2015 (Figure 5). This sampling will allow assessment of the relevant drainage areas for possible hidden metal deposits.
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Figure 5: Plan Showing the Four Sampling Areas (Areas A to D) at the Heemskirk Tin Project
The new stream sediment sampling commenced in mid-April 2015, with mobilisation to site and setting up of a campsite, and then continued (through wind, rain and snow) until completed on the 30[th] April 2015. The samples were dispatched to the Bureau Veritas Laboratory in Perth and a number of maps were prepared along with documentation on the sampling methodology and a number of photographs of the sampling sites, sampling work and general location (Figures 6, 7 & 8).
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Quarterly Activities Report for the Period Ended 30 June 2015
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Figure 6: Overview of Area C during the 2015 Sampling at the Heemskirk Tin Project
The 49 new samples from Areas B and C were submitted and are being analysed by the same assay method as the first batch (from Area A) – to ensure consistency in the results. The new assay results remain outstanding at the end of the current Quarter.
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Figure 7: Collecting Sample 53272 from Area C during the 2015 Sampling at Heemskirk
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Quarterly Activities Report for the Period Ended 30 June 2015
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Figure 8: Old Overgrown Shafts in Area B during the 2015 Sampling Program
The results of the Heemskirk assay work will be available in the coming Quarter.
Corporate
On 8 July 2015, MinRex announced plans to change its activities and acquire 100% of the share capital in Hello Real Estate Limited subject to due diligence, formal agreement and MinRex shareholder and regulatory approvals.
Due diligence on the proposed acquisition is progressing.
As at 30 June 2015, the Company had available cash of $1.526 million.
For further information, please contact:
Simon Durack Non-Executive Director and Company Secretary T: +61 8 9486 8806 F: +61 8 9321 3559 [email protected]
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Quarterly Activities Report for the Period Ended 30 June 2015
Competent Persons Statement:
The inforpmation in this report that relates to Exploration Targets and Exploration Results is based on information compiled by Mr Kieron Munro, a Competent Person who is a Member of the Australian Institute of Geoscientists and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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 Munro is employed as an independent geological consultant by MinRex and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Table 1 – Deflector Extended Soil Sampling Assay Results
| Sample | Easting | Northing | Au(AR) | Ag | As | Cu | Mo | Ni | Pb | Zn |
|---|---|---|---|---|---|---|---|---|---|---|
| No. | m | m | ppb | ppm | ppm | ppm | ppm | ppm | ppm | ppm |
| DES001 | 443000 | 6830630 | -1 | -0.05 | 4.8 | 28 | 0.8 | 26 | 12 | 21 |
| DES002 | 443040 | 6830600 | -1 | -0.05 | 5.8 | 27 | 0.8 | 31 | 11 | 23 |
| DES003 | 443080 | 6830570 | -1 | -0.05 | 6.6 | 29 | 1 | 30 | 12 | 28 |
| DES004 | 443120 | 6830540 | -1 | -0.05 | 5.2 | 29 | 0.8 | 32 | 14 | 29 |
| DES005 | 443160 | 6830510 | -1 | -0.05 | 5.8 | 35 | 1 | 31 | 17 | 27 |
| DES006 | 443200 | 6830475 | -1 | -0.05 | 5.2 | 31 | 1 | 29 | 16 | 29 |
| DES007 | 443020 | 6830865 | -1 | -0.05 | 4 | 27 | 0.8 | 32 | 10 | 25 |
| DES008 | 443060 | 6830835 | -1 | -0.05 | 5.2 | 31 | 1 | 34 | 11 | 30 |
| DES009 | 443100 | 6830805 | -1 | -0.05 | 3.8 | 30 | 0.4 | 29 | 10 | 25 |
| DES010 | 443140 | 6830775 | -1 | -0.05 | 4 | 32 | 0.8 | 33 | 11 | 27 |
| DES011 | 443180 | 6830745 | -1 | -0.05 | 5 | 32 | 1 | 29 | 12 | 29 |
| DES012 | 443220 | 6830715 | -1 | 0.05 | 4 | 19 | 0.8 | 14 | 14 | 10 |
| DES013 | 443260 | 6830685 | -1 | 0.05 | 7 | 20 | 1.2 | 15 | 18 | 8 |
| DES014 | 443300 | 6830655 | -1 | -0.05 | 7.6 | 20 | 1.2 | 16 | 15 | 9 |
| DES015 | 443340 | 6830625 | -1 | -0.05 | 8 | 21 | 1.2 | 17 | 15 | 13 |
| DES016 | 443190 | 6831000 | -1 | -0.05 | 4 | 34 | 0.8 | 40 | 10 | 28 |
| DES017 | 443230 | 6830970 | -1 | -0.05 | 4 | 32 | 0.8 | 37 | 10 | 30 |
| DES018 | 443270 | 6830940 | -1 | -0.05 | 6.2 | 38 | 0.8 | 29 | 9 | 19 |
| DES019 | 443310 | 6830910 | -1 | -0.05 | 9.6 | 46 | 1 | 27 | 9 | 19 |
| DES020 | 443350 | 6830880 | -1 | -0.05 | 7.2 | 36 | 1 | 23 | 13 | 16 |
| DES021 | 443390 | 6830850 | -1 | -0.05 | 5.2 | 32 | 1 | 23 | 13 | 23 |
| DES022 | 443430 | 6830820 | -1 | -0.05 | 5.2 | 21 | 1.2 | 21 | 13 | 11 |
| DES023 | 443470 | 6830790 | -1 | -0.05 | 7.6 | 19 | 1 | 17 | 12 | 11 |
| DES024 | 443505 | 6830755 | -1 | -0.05 | 6.2 | 22 | 1.4 | 22 | 17 | 20 |
| DES025 | 443385 | 6831120 | -1 | -0.05 | 7.8 | 37 | 0.8 | 41 | 8 | 17 |
| DES026 | 443425 | 6831090 | -1 | -0.05 | 4.2 | 42 | 0.4 | 56 | 10 | 17 |
| DES027 | 443465 | 6831060 | -1 | -0.05 | 5.2 | 33 | 0.8 | 53 | 8 | 22 |
| DES028 | 443505 | 6831030 | -1 | -0.05 | 10.6 | 42 | 0.8 | 46 | 9 | 21 |
| DES029 | 443545 | 6831000 | -1 | -0.05 | 15.6 | 46 | 1 | 31 | 10 | 21 |
| DES030 | 443585 | 6830970 | -1 | -0.05 | 8.2 | 37 | 1 | 25 | 10 | 22 |
| DES031 | 443625 | 6830935 | -1 | -0.05 | 5.4 | 32 | 1 | 24 | 12 | 23 |
| DES032 | 443665 | 6830905 | -1 | -0.05 | 4.2 | 25 | 0.8 | 23 | 11 | 27 |
| DES033 | 443700 | 6830870 | 1 | -0.05 | 5.6 | 32 | 0.4 | 27 | 12 | 35 |
| DES034 | 443555 | 6831240 | -1 | -0.05 | 4.6 | 23 | 0.4 | 37 | 8 | 20 |
| DES035 | 443595 | 6831205 | -1 | -0.05 | 4.8 | 38 | 0.4 | 34 | 8 | 20 |
| DES036 | 443635 | 6831170 | -1 | -0.05 | 7.8 | 52 | 1 | 36 | 8 | 19 |
| DES037 | 443675 | 6831140 | -1 | -0.05 | 5.6 | 39 | 1.4 | 26 | 8 | 16 |
| DES038 | 443715 | 6831110 | -1 | -0.05 | 4.6 | 32 | 1.2 | 23 | 9 | 20 |
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Quarterly Activities Report for the Period Ended 30 June 2015
| DES039 | 443755 | 6831075 | -1 | -0.05 | 4.6 | 31 | 1.2 | 26 | 13 | 25 |
|---|---|---|---|---|---|---|---|---|---|---|
| DES040 | 443795 | 6831045 | -1 | -0.05 | 4 | 28 | 0.8 | 31 | 14 | 38 |
| DES041 | 443835 | 6831015 | -1 | -0.05 | 4 | 22 | 0.8 | 23 | 10 | 25 |
| DES042 | 443870 | 6830980 | -1 | -0.05 | 3.6 | 21 | 0.4 | 16 | 9 | 25 |
| DES043 | 443740 | 6831375 | -1 | -0.05 | 2.8 | 23 | 0.8 | 50 | 6 | 23 |
| DES044 | 443780 | 6831345 | -1 | -0.05 | 2.8 | 24 | 0.8 | 44 | 7 | 22 |
| DES045 | 443820 | 6831315 | -1 | -0.05 | 2.6 | 21 | 0.4 | 41 | 6 | 22 |
| DES046 | 443860 | 6831285 | -1 | -0.05 | 2.2 | 23 | 0.4 | 41 | 7 | 21 |
| DES047 | 443900 | 6831255 | -1 | -0.05 | 2.8 | 25 | 0.8 | 35 | 8 | 23 |
| DES048 | 443940 | 6831225 | -1 | -0.05 | 3 | 24 | 0.8 | 31 | 8 | 21 |
| DES049 | 443980 | 6831195 | -1 | -0.05 | 3.2 | 21 | 0.8 | 24 | 8 | 23 |
| DES050 | 444020 | 6831165 | -1 | -0.05 | 3 | 20 | 0.4 | 18 | 9 | 24 |
| DES051 | 444060 | 6831130 | -1 | -0.05 | 3.6 | 25 | 0.8 | 20 | 10 | 34 |
| DES052 | 443950 | 6831475 | -1 | -0.05 | 3.6 | 31 | 1 | 38 | 9 | 25 |
| DES053 | 443988 | 6831445 | -1 | -0.05 | 3.2 | 26 | 1 | 30 | 8 | 26 |
| DES054 | 444026 | 6831415 | -1 | -0.05 | 3.2 | 26 | 1 | 31 | 9 | 26 |
| DES055 | 444064 | 6831385 | -1 | -0.05 | 3.2 | 26 | 1 | 32 | 10 | 23 |
| DES056 | 444102 | 6831355 | -1 | -0.05 | 3.2 | 27 | 1 | 36 | 10 | 24 |
| DES057 | 444140 | 6831325 | -1 | -0.05 | 2.8 | 19 | 0.8 | 23 | 9 | 23 |
| DES058 | 444178 | 6831295 | -1 | -0.05 | 3 | 17 | 0.8 | 18 | 8 | 19 |
| DES059 | 444216 | 6831265 | -1 | -0.05 | 3.6 | 19 | 0.8 | 18 | 8 | 25 |
| DES060 | 444255 | 6831230 | -1 | -0.05 | 4 | 22 | 0.8 | 20 | 10 | 29 |
| DES061 | 444125 | 6831580 | -1 | -0.05 | 3.6 | 31 | 1.2 | 36 | 9 | 26 |
| DES062 | 444165 | 6831550 | -1 | -0.05 | 3.8 | 25 | 1 | 36 | 8 | 34 |
| DES063 | 444205 | 6831520 | -1 | -0.05 | 3.2 | 24 | 1.2 | 27 | 9 | 22 |
| DES064 | 444245 | 6831490 | 8 | -0.05 | 2.8 | 24 | 1 | 27 | 8 | 20 |
| DES065 | 444285 | 6831460 | -1 | -0.05 | 3.2 | 22 | 1 | 26 | 10 | 24 |
| DES066 | 444325 | 6831430 | -1 | -0.05 | 3 | 16 | 0.8 | 17 | 8 | 21 |
| DES067 | 444365 | 6831400 | -1 | -0.05 | 3.2 | 18 | 0.8 | 19 | 8 | 24 |
| DES068 | 444405 | 6831370 | -1 | -0.05 | 4.6 | 23 | 0.8 | 20 | 10 | 32 |
| DES069 | 444440 | 6831335 | -1 | -0.05 | 3.8 | 27 | 0.8 | 22 | 10 | 31 |
| DES070 | 444380 | 6831640 | -1 | -0.05 | 3 | 21 | 1 | 28 | 8 | 19 |
| DES071 | 444420 | 6831610 | -1 | -0.05 | 2.8 | 21 | 0.8 | 29 | 9 | 19 |
| DES072 | 444460 | 6831580 | -1 | -0.05 | 3.2 | 21 | 0.8 | 23 | 10 | 25 |
| DES073 | 444500 | 6831550 | -1 | -0.05 | 7.8 | 31 | 1 | 28 | 16 | 37 |
| DES074 | 444540 | 6831520 | -1 | -0.05 | 4.8 | 25 | 0.8 | 22 | 10 | 36 |
| DES075 | 444580 | 6831490 | -1 | -0.05 | 4.2 | 21 | 1 | 18 | 10 | 28 |
| DES076 | 444615 | 6831460 | -1 | -0.05 | 4.8 | 18 | 0.8 | 16 | 9 | 24 |
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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
MINREX RESOURCES NL
ABN
81 151 185 867
Quarter ended (“current quarter”) 30 JUNE 2015
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 Other (provide details if material) Net Operating Cash Flows |
Current quarter $A’000 |
Year to date (...12....months) $A’000 |
|---|---|---|
| - (64) - - (72) - 7 - - - |
- (97) - - (462) - 37 - - - |
|
| (129) | (522) | |
| 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) |
- - - - - - - - - |
- - - - - - - - - |
| - | - | |
| (129) | (522) |
- 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
| 1.13 Total operating and investing cash flows (brought forward) |
(129) | (522) |
|---|---|---|
| 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 (provide details if material) Net financing cash flows |
- - - - - - |
- - - - - - |
| - | - | |
| 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 |
(129) 1,655 - |
(522) 2,048 - |
| 1,526 | 1,526 |
Payments to directors of the entity, associates of the directors, 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 |
|---|---|---|
| 12 | ||
| - | ||
| 1.25 | Explanation necessaryfor an understandingof the transactions | |
| N/A |
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
- See chapter 19 for defined terms. 01/05/2013
Appendix 5B Page 2
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
- 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 |
|---|---|---|
| - | - |
|
| - | - |
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 |
| 30 | |
| - | |
| - | |
| 250 | |
| Total | 280 |
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 | 3 |
| 1,525 | 1,652 | |
| - | ||
| - | ||
| Total: cash at end of quarter(item 1.22) | 1,526 | 1,655 |
- 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
Changes in interests in mining tenements and petroleum tenements
| Changes in interests in mining tenements and petroleum tenements | Changes in interests in mining tenements and petroleum tenements | Changes in interests in mining tenements and petroleum tenements | Changes in interests in mining tenements and petroleum tenements | Changes in interests in mining tenements and petroleum tenements |
|---|---|---|---|---|
| Tenement reference and location Nature of interest (note (2)) Interest at beginning of quarter Interest at end of quarter 6.1 Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed N/A 6.2 Interests in mining tenements and petroleum tenements acquired or increased N/A 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 note3) (cents) |
Amount paid up per security (see note3) (cents) |
|
| 7.1 Preference +securities (description) 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs, redemptions |
N/A | |||
| N/A | ||||
| 7.3 +Ordinary securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs |
17,500,001 17,500,000 |
17,500,001 - |
N/A 20 cents |
N/A 1 cent |
| - - |
- - |
- - |
- - |
|
| 7.5 +Convertible debt securities (description) |
N/A |
- See chapter 19 for defined terms. 01/05/2013
Appendix 5B Page 4
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
| 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted |
N/A | |||
|---|---|---|---|---|
| 7.7 Options (description and conversion factor) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter |
N/A | Exercise price | Expiry date | |
| N/A | ||||
| N/A | ||||
| N/A | ||||
| 7.11 Debentures (totals only) |
N/A | |||
| 7.12 Unsecured notes(totals only) |
N/A |
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.
Sign here: Date: 29/07/2015 Director Print name: Simon Durack.....................................
- See chapter 19 for defined terms. 01/05/2013
Appendix 5B Page 5
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
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.
== == == == ==
- See chapter 19 for defined terms. 01/05/2013
Appendix 5B Page 6