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MINREX RESOURCES LIMITED — Interim / Quarterly Report 2016
Jul 25, 2016
65375_rns_2016-07-25_65ab07cb-1220-4b80-ae1b-becd20cb8c28.pdf
Interim / Quarterly Report
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Quarterly Activities Report for the Period Ended 30 June 2016
26 July 2016
HIGHLIGHTS
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In June, the Company successfully completed a Private Placement to raise $165,375 (before costs) to continue exploration work on its mineral properties, due diligence on new corporate opportunities and working capital. At the end of June 2016 the Company had available cash of $0.852 million.
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Encouraging assay results have been received from the 90 rock samples and 131 soil samples collected at MinRex’s Deflector Extended Gold Project in April 2016. These results enhance the prospectivity of this tenement, which lies along strike from Doray Minerals Limited’s newly commissioned Deflector Gold Project.
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A further 43 panned-concentrate, stream sediment samples and 28 rock samples were collected at the Heemskirk Tin Project, in April and May 2016. These samples have now been submitted for analytical work.
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Following the end of the quarter, the Company raised a further $950,906 (before costs) as part of a Non Renounceable Rights Issue that was well supported by shareholders.
About MinRex
MinRex Resources Limited (“MinRex”) is an exploration company, listed on the Australian Securities Exchange, with its present focus being the exploration of gold, base metal and tin projects in Western Australia and Tasmania. The Company is also actively evaluating other exploration and corporate opportunities.
MinRex currently holds two projects, the Deflector Extended Gold Project at Gullewa in Western Australia (about 400km north of Perth) and the Heemskirk Tin Project on the west coast of Tasmania (Figure 1). Significantly, MinRex’s Deflector Extended Gold Project is along strike from Doray Minerals Limited’s Deflector Gold Project, where open-cut and underground mining and ore processing has recently commenced.
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Figure 1: Location of MinRex Project Areas
Deflector Extended Gold Project
MinRex’s Deflector Extended Gold Project (E59/1657) lies to the northeast of the Deflector mine (Figure 2), where copper-gold mineralisation occurs in shear zones in meta-basalt, and also the Golden Stream open cut, which has been mined for gold in shear zone-hosted quartz veins in meta-basalt. The Deflector Mine has recently been re-opened as an underground mining operation on extensions to the copper-gold sulphide lodes. Both deposits trend towards MinRex’s tenement, where deep cover sequences have hindered previous exploration programs.
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Figure 2: Geology of E59/1657 showing Deflector Mine and Golden Stream pit
The area of E59/1657 consists of about 15% outcrop of mafic meta-basalts in the Cagacaroon Hills area, and about 85% Quaternary cover sediments (plus one or two small areas of Tertiary laterite). MinRex has been exploring the tenement (E59/1657) since 2011. This exploration has sought to use surface sampling and geology to hone in to buried mineralized structures and favourable settings for mineralisation.
While there is clearly potential for buried gold mineralisation in extensions to either of the two gold mineralisation types in the area, the pattern drilling and sampling completed in the past have not adequately tested the tenement. There is remaining prospectivity for gold in structures or along lithological contacts, under the cover sequences in the tenement, and MinRex has continued its exploration programs in E59/1657 in the June 2016 Quarter.
The geomorphology of the Deflector Extended area indicates that the area has been more deeply eroded in the past and then infilled with Quaternary sediments, up to 30m deep in places. The ephemeral Salt River flows through the south eastern corner of the tenement
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and this has undoubtedly been a major river system in the past. A drying climate has resulted in the river system being choked with alluvial sediments and the floodplain areas being infilled with valley-fill alluvium and colluvium. Colluvial scree deposits surround the outcropping Cagacaroon Hills meta-basalt, and loose wind-blown sand is also common, overlying these other deposits, principally in the west and north.
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Figure 3: Plan showing the geology and MinRex rock sampling results, in E59/1657
The large areas of fluvial and valley-fill sediments have now been fixed for a long period, demonstrated by the formation within them of near-surface, calcrete-cemented horizons. These calcrete horizons are thought to have formed through the vertical and horizontal movement of solutions and soluble elements within the sedimentary sequence. MinRex is now using detailed surface soil and auger drill sampling in an attempt to delineate deeper buried structures in the underlying bedrock through the detection of low-level geochemical haloes above the structures. Once clear geochemical targets are defined then these will be drilled to test for mineralisation in the structures.
Four surface sampling programs have now been completed by MinRex, within the tenement area, utilizing surface grab samples of outcropping rocks, float and colluvium, chips within unconsolidated sediments, calcrete, ferricrete and sediment (Figure 3). A number of lines of close-spaced, surface soil sampling lines have also been completed, with samples at 50m spacing (Figure 4). The assay results from these lines have been analysed to allow interpretation of the position of underlying geological contacts and structures (Figure 5). All of this work has been designed with geological input and completed under close geological supervision, and with regard to past work and available geological and geophysical databases.
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Figure 4: Plan showing the geology and MinRex soil sampling results, in E59/1657
The graphs below (Figure 5) show assay results from a 1.5km line (6832600N) of surface soil sampling, at 50m spacing, across an area of sandplain, overlying deeper valley-fill cover.
While the values are low, the graphs demonstrate that gold rises sharply over a 100m interval, indicating the probable location of the buried Golden Stream structure; lead and arsenic also rise, but over a wider interval. MinRex plans to complete detailed soil sampling over many more lines to confirm the location of major structures. Infill of the sampling to less than 50m is also planned in prospective areas.
These results are seen as encouraging, as they demonstrate a concurrence of the highest elemental values, geological contacts and fault zones, all within buried structures, and along strike from, the Golden Stream and Deflector Gold Mines.
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arsenic
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1 3 5 7 9 11 13 15 17 19 21 23 25 27 29
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Figure 5: Graphs showing elemental values along soil sampling line 6832600N, in E59/1657 (Gold in ppb, other elements in ppm)
The aim is to use surface sampling, primarily close-spaced soil sampling, within geomorphologically defined domains, in conjunction with geological traverses, examination of float rocks, drainage sediments and other geological factors, in combination with the available geophysical and geological data, to vector in towards potential mineralisation.
MinRex proposes to continue with its mineral exploration programs at the Deflector Extended Project, with the initial aim being to infill the detailed soil sampling lines (with multi-element low-level assays) to at least 500m spacing over the deeply covered areas of the tenement. Further infill, to 250m spacing, will also be completed over the areas already indicated as potential extensions to the known mineralized structures. Depending upon the results from that work further infill will then probably be required to hone in onto precise locations for any gold mineralised structures.
The full sample and assay results for the 90 rock samples collected at the Deflector Extended Project in April 2016 is included below as Table 1. While the full sample and assay results for the 131 soil samples collected in April 2016 is included below as Table 2.
Heemskirk Tin Project
Over the past one hundred and forty years a number of small, rich tin deposits have been worked in the Heemskirk area of Tasmania, with most of this mining and prospecting having been completed prior to 1900. MinRex has now held this area since April 2012 and has been successful in identifying a number of the known old workings (Peripatetic, McGuiness, St Dizier, Fisher & Smith, Morrisby, etc.) and has collected a total of 173 samples from four prospective zones (Areas A-D) within the tenement for analysis for multiple elements, including tin and tungsten.
The April 2015 field program collected 49 stream sediment samples from Areas B and C; in addition to the 30 samples collected in Area A in 2012. When analysed using a totalfusion laser-ablation method, 11 of the total 79 samples from Areas A, B and C, had values over 1% tin and another 11 had values between 0.5 and 1% tin, for a total of 22 (or 28%) of the samples being over 0.5% tin (Figure 6).
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Figure 6: Plan of the Panned-Concentrate Assay Grades from Stream Sampling at Heemskirk
In April-May 2016, a new field sampling program has been completed over the remaining Area D and also infill sampling in the Area B zone. Stream sediment sampling in Area D collected 25 samples, while infill sampling in Area B collected 18 stream sediment samples. A total of 28 rock samples were also collected during the 17 days of field work and sampling. The 71 samples were then packaged and dispatched to Perth for examination and geological logging before being submitted to the Bureau Veritas Laboratory in Perth. The analytical results are still outstanding but some of both the stream sediment and rock samples can be seen to contain tin minerals.
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Figure 7: Old workings at the Peripatetic Mine in Area B within EL18/2011, during 2016
The samples are panned concentrate samples and therefore, when received, the assays will be higher grade than the actual in-situ stream sediments; nonetheless, it is thought that the higher grade samples will be directly relatable to the bedrock areas of the tenement with the highest distribution of tin-minerals.
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Figure 8: Overview of the Heemskirk tenement area, during 2016
Corporate Opportunities
The Company is continuing to assess a range of corporate opportunities and this work will continue through the coming period. MinRex is in a good position to consider commercial opportunities as a result of the Company’s cash holdings which give it the flexibility to consider such opportunities.
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Corporate
As at 30 June 2016, the Company had available cash of $0.852 million.
For further information, please contact:
Simon Durack Executive Director MinRex Resources Limited T: +61 8 9486 8806 F: +61 8 9321 3559 [email protected]
Competent Persons Statement:
The information 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.
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Table 1 – Deflector Extended 2016 Rock Sampling Assay Results
| Sample | Easting | Northing | Au(AR) | Ag | As | Mo | Pb | Cu | Ni | Zn |
|---|---|---|---|---|---|---|---|---|---|---|
| No. | m | m | ppb | ppm | ppm | ppm | ppm | ppm | ppm | ppm |
| DEK092 | 443712 | 6834106 | 2 | -0.05 | 3.4 | 1.4 | 13 | 27 | 27 | 31 |
| DEK093 | 443700 | 6834120 | 1 | -0.05 | -0.2 | 1 | 1 | 4 | 6 | -1 |
| DEK094 | 443702 | 6834151 | -1 | -0.05 | 0.6 | 1 | 1 | 10 | 4 | 1 |
| DEK095 | 443698 | 6834146 | 1 | -0.05 | 5.6 | 1.8 | 13 | 22 | 17 | 17 |
| DEK096 | 443700 | 6834355 | 1 | -0.05 | 0.4 | 1.2 | 2 | 7 | 2 | -1 |
| DEK097 | 443704 | 6834359 | -1 | -0.05 | 0.4 | 1 | 12 | 5 | 20 | 24 |
| DEK098 | 443695 | 6834396 | -1 | -0.05 | 0.4 | 3.8 | 5 | 6 | 5 | 4 |
| DEK099 | 443704 | 6834040 | -1 | -0.05 | 1.4 | 0.6 | 2 | 6 | 3 | 6 |
| DEK100 | 443710 | 6833883 | 2 | -0.05 | 3.2 | 0.8 | 3 | 19 | 12 | 13 |
| DEK101 | 443699 | 6833835 | -1 | -0.05 | 1.8 | 1 | 3 | 8 | 7 | 7 |
| DEK102 | 443697 | 6833292 | 2 | -0.05 | 0.8 | 0.6 | 2 | 13 | 7 | 6 |
| DEK103 | 443681 | 6833254 | -1 | -0.05 | -0.2 | 1.2 | 1 | 4 | -1 | -1 |
| DEK104 | 439867 | 6832592 | -1 | -0.05 | -0.2 | 1 | -1 | 5 | 6 | 2 |
| DEK105 | 439805 | 6832541 | 1 | -0.05 | -0.2 | 1 | 2 | 4 | 4 | 2 |
| DEK106 | 439804 | 6832540 | -1 | -0.05 | 5.4 | 1.8 | 20 | 19 | 24 | 14 |
| DEK107 | 439781 | 6832527 | -1 | -0.05 | 5 | 1.4 | 26 | 25 | 22 | 17 |
| DEK108 | 439784 | 6832520 | -1 | 0.1 | 7.4 | 3.6 | 4 | 45 | 6 | 6 |
| DEK109 | 439794 | 6832488 | -1 | -0.05 | 0.2 | 1 | 1 | 5 | 5 | -1 |
| DEK110 | 441060 | 6832847 | 1 | -0.05 | 2.8 | 4.2 | 9 | 25 | 7 | 6 |
| DEK111 | 441077 | 6832896 | 5 | -0.05 | -0.2 | 1 | -1 | 4 | 4 | 1 |
| DEK112 | 441135 | 6832931 | 1 | -0.05 | 0.6 | 2.2 | 3 | 3 | 6 | 3 |
| DEK113 | 441137 | 6832943 | 5 | 0.1 | 1 | 0.4 | 16 | 40 | 4 | 4 |
| DEK114 | 441019 | 6832600 | 25 | 0.1 | 11.8 | 0.6 | 8 | 29 | 8 | 16 |
| DEK115 | 441175 | 6832596 | -1 | -0.05 | 0.8 | 1.2 | 1 | 4 | 3 | 3 |
| DEK116 | 441250 | 6832571 | 8 | -0.05 | 10 | 1.2 | 19 | 151 | 16 | 5 |
| DEK117 | 441217 | 6832557 | 1 | -0.05 | 2.4 | 0.8 | 8 | 23 | 10 | 33 |
| DEK118 | 441217 | 6832557 | -1 | 0.05 | 6 | 0.4 | 8 | 26 | 11 | 24 |
| DEK119 | 441217 | 6832557 | -1 | -0.05 | 6.2 | 1 | 3 | 13 | 10 | 1 |
| DEK120 | 441319 | 6832740 | -1 | -0.05 | 0.8 | 1 | 2 | 6 | 1 | 2 |
| DEK121 | 441369 | 6832755 | 2 | -0.05 | 1.4 | 1 | 2 | 5 | 5 | 3 |
| DEK122 | 441399 | 6832684 | -1 | -0.05 | 3 | 1 | 1 | 13 | 8 | 5 |
| DEK123 | 443000 | 6833850 | 4 | -0.05 | 0.6 | 1.2 | 2 | 4 | 4 | 2 |
| DEK124 | 443000 | 6834250 | -1 | -0.05 | -0.2 | 1 | -1 | 4 | 6 | -1 |
| DEK125 | 442958 | 6834423 | -1 | -0.05 | -0.2 | 1.4 | -1 | 6 | 3 | -1 |
| DEK126 | 442575 | 6834359 | 2 | -0.05 | 0.2 | 2 | 4 | 6 | 2 | 3 |
| DEK127 | 442765 | 6834300 | 1 | -0.05 | -0.2 | 1.2 | 2 | 4 | 1 | -1 |
| DEK128 | 443000 | 6833400 | 6 | -0.05 | 0.4 | 1.4 | 1 | 5 | 2 | 2 |
| DEK129 | 442997 | 6833374 | -1 | -0.05 | 0.6 | 0.6 | 8 | 9 | 3 | 8 |
| DEK130 | 442997 | 6833374 | 2 | 0.1 | 22.4 | 2.6 | 14 | 304 | 205 | 40 |
| DEK131 | 443000 | 6833200 | -1 | -0.05 | -0.2 | 1.4 | 1 | 8 | 4 | 4 |
| DEK132 | 442967 | 6832315 | -1 | -0.05 | 0.6 | 1.2 | 1 | 6 | 1 | 8 |
| DEK133 | 443013 | 6832287 | -1 | -0.05 | 2 | 1.8 | 3 | 53 | 50 | 11 |
| DEK134 | 443889 | 6832987 | 3 | -0.05 | 0.2 | 1.8 | 2 | 5 | 6 | 3 |
| DEK135 | 444081 | 6832269 | 2 | -0.05 | -0.2 | 1.2 | -1 | 6 | 8 | 1 |
| DEK136 | 444154 | 6831997 | 1 | -0.05 | -0.2 | 1.6 | 3 | 9 | 7 | 3 |
| DEK137 | 443648 | 6831159 | -1 | -0.05 | 1.8 | 11.4 | 3 | 74 | 7 | 51 |
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| DEK138 | 443000 | 6832575 | 12 | -0.05 | 0.8 | 1.4 | 8 | 25 | 12 | 16 |
|---|---|---|---|---|---|---|---|---|---|---|
| DEK139 | 443000 | 6832725 | 68 | -0.05 | 0.4 | 1.2 | 2 | 28 | 28 | 8 |
| DEK140 | 442000 | 6833475 | 24 | -0.05 | 4.4 | 1 | 2 | 5 | 3 | 1 |
| DEK141 | 442011 | 6833591 | 58 | -0.05 | 0.6 | 1 | 1 | 4 | 8 | 2 |
| DEK142 | 442000 | 6834325 | 4 | -0.05 | 11.4 | 1 | -1 | 8 | 10 | 1 |
| DEK143 | 441654 | 6834218 | -1 | -0.05 | 0.2 | 1 | 1 | 5 | 2 | 2 |
| DEK144 | 442008 | 6833386 | -1 | -0.05 | 0.2 | 1 | 1 | 4 | 4 | 4 |
| DEK145 | 443603 | 6832854 | -1 | -0.05 | -0.2 | 1.2 | 3 | 7 | 8 | 4 |
| DEK146 | 443618 | 6832799 | -1 | -0.05 | -0.2 | 0.8 | 1 | 5 | 11 | 5 |
| DEK147 | 443561 | 6832594 | -1 | -0.05 | -0.2 | 1 | -1 | 31 | 5 | 2 |
| DEK148 | 443498 | 6832509 | -1 | -0.05 | -0.2 | 1 | -1 | 7 | 4 | 2 |
| DEK149 | 443248 | 6832454 | -1 | -0.05 | -0.2 | 1.2 | -1 | 9 | 6 | 4 |
| DEK150 | 443272 | 6832764 | 6 | 0.1 | 5.2 | 1 | 20 | 230 | 245 | 49 |
| DEK151 | 441684 | 6832603 | 62 | -0.05 | 0.4 | 1.4 | 2 | 8 | 6 | 3 |
| DEK152 | 441808 | 6832601 | 8 | -0.05 | 1 | 1 | 3 | 14 | 7 | 7 |
| DEK153 | 441914 | 6832598 | 3 | 0.2 | 11.6 | 2 | 19 | 252 | 82 | 14 |
| DEK154 | 442130 | 6832608 | -1 | -0.05 | 0.6 | 1 | 2 | 5 | 5 | 14 |
| DEK155 | 441949 | 6832530 | 4 | -0.05 | 8 | 1.2 | 7 | 118 | 41 | 29 |
| DEK156 | 441688 | 6832505 | 175 | -0.05 | 0.2 | 0.8 | 2 | 6 | 6 | 2 |
| DEK157 | 442653 | 6833121 | 1 | -0.05 | -0.2 | 23.2 | 58 | 6 | 3 | 1 |
| DEK158 | 442704 | 6833063 | -1 | -0.05 | 0.2 | 1.8 | 8 | 9 | 6 | 5 |
| DEK159 | 442702 | 6833075 | -1 | 0.1 | 4.4 | 1 | 47 | 36 | 13 | 37 |
| DEK160 | 442454 | 6833209 | 2 | -0.05 | -0.2 | 3.4 | 2 | 4 | 4 | 2 |
Table 2 – Deflector Extended 2016 Soil Sampling Assay Results
| Sample | Easting | Northing | Au(AR) | Ag | As | Mo | Pb | Cu | Ni | Zn |
|---|---|---|---|---|---|---|---|---|---|---|
| No. | m | m | ppb | ppm | ppm | ppm | ppm | ppm | ppm | ppm |
| DES077 | 443700 | 6831405 | -1 | -0.05 | 3.2 | 1 | 9 | 20 | 29 | 21 |
| DES078 | 443915 | 6831505 | -1 | -0.05 | 3 | 1 | 8 | 32 | 36 | 23 |
| DES079 | 443880 | 6831535 | -1 | -0.05 | 2.8 | 1 | 8 | 26 | 34 | 22 |
| DES080 | 444085 | 6831610 | -1 | -0.05 | 2.8 | 1 | 9 | 36 | 36 | 24 |
| DES081 | 444045 | 6831640 | -1 | -0.05 | 2.6 | 0.8 | 7 | 27 | 30 | 19 |
| DES082 | 444005 | 6831670 | -1 | -0.05 | 2.4 | 0.6 | 6 | 25 | 31 | 23 |
| DES083 | 444340 | 6831670 | -1 | -0.05 | 2.6 | 0.8 | 8 | 21 | 28 | 17 |
| DES084 | 444300 | 6831700 | -1 | -0.05 | 2.6 | 1 | 8 | 28 | 37 | 18 |
| DES085 | 444260 | 6831730 | -1 | -0.05 | 2.2 | 0.8 | 7 | 26 | 24 | 16 |
| DES086 | 444220 | 6831760 | -1 | -0.05 | 2.4 | 1 | 8 | 30 | 35 | 18 |
| DES087 | 443700 | 6833200 | 1 | -0.05 | 3.2 | 1.6 | 18 | 34 | 34 | 30 |
| DES088 | 443700 | 6833250 | -1 | -0.05 | 3 | 1 | 13 | 25 | 27 | 25 |
| DES089 | 443700 | 6833300 | 1 | -0.05 | 2 | 0.8 | 8 | 24 | 16 | 30 |
| DES090 DES091 |
443700 443700 |
6833350 6833400 |
-1 -1 |
-0.05 -0.05 |
2.8 2.4 |
1 1 |
14 14 |
28 25 |
31 28 |
30 39 |
| DES092 | 443700 | 6833450 | -1 | -0.05 | 3.2 | 1.4 | 16 | 30 | 28 | 42 |
| DES093 | 443700 | 6833500 | -1 | -0.05 | 3.6 | 0.8 | 14 | 28 | 26 | 37 |
| DES094 | 443700 | 6833550 | -1 | -0.05 | 3.8 | 0.8 | 9 | 22 | 18 | 32 |
| DES095 | 443700 | 6833600 | -1 | -0.05 | 3.2 | 0.8 | 8 | 15 | 17 | 26 |
| DES096 | 443700 | 6833650 | -1 | -0.05 | 2.2 | 0.8 | 12 | 24 | 22 | 38 |
| DES097 | 443700 | 6833700 | -1 | -0.05 | 3 | 0.8 | 9 | 16 | 18 | 32 |
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| DES098 | 443700 | 6833750 | 1 | -0.05 | 2.6 | 0.8 | 11 | 18 | 18 | 30 |
|---|---|---|---|---|---|---|---|---|---|---|
| DES099 | 443700 | 6833800 | -1 | -0.05 | 2.8 | 0.8 | 14 | 14 | 17 | 29 |
| DES100 | 443700 | 6833850 | -1 | -0.05 | 2.6 | 0.8 | 12 | 15 | 15 | 22 |
| DES101 | 443700 | 6833900 | 4 | -0.05 | 2.6 | 1.2 | 13 | 13 | 13 | 21 |
| DES102 | 443700 | 6833950 | 3 | -0.05 | 2.6 | 1.6 | 11 | 11 | 12 | 16 |
| DES103 | 443700 | 6834000 | 3 | -0.05 | 3 | 1 | 13 | 12 | 16 | 27 |
| DES104 | 443700 | 6834050 | 2 | -0.05 | 2.6 | 1.2 | 14 | 14 | 15 | 25 |
| DES105 | 443700 | 6834100 | 2 | -0.05 | 3.2 | 2.4 | 14 | 11 | 13 | 19 |
| DES106 | 443700 | 6834150 | 2 | -0.05 | 3.8 | 1.8 | 10 | 11 | 9 | 15 |
| DES107 | 443700 | 6834200 | 2 | -0.05 | 2.8 | 1.2 | 11 | 14 | 15 | 24 |
| DES108 | 443700 | 6834250 | 2 | -0.05 | 2.8 | 2.2 | 11 | 13 | 12 | 20 |
| DES109 | 443700 | 6834300 | 2 | -0.05 | 3.6 | 2.4 | 14 | 12 | 13 | 23 |
| DES110 | 443700 | 6834350 | 1 | -0.05 | 3.6 | 1.8 | 9 | 10 | 12 | 13 |
| DES111 | 443700 | 6834400 | 1 | -0.05 | 3 | 1.2 | 8 | 8 | 8 | 12 |
| DES112 | 439800 | 6832600 | 1 | -0.05 | 6.2 | 2 | 12 | 13 | 14 | 11 |
| DES113 | 439850 | 6832600 | 1 | -0.05 | 5 | 1.6 | 8 | 14 | 13 | 13 |
| DES114 | 439900 | 6832600 | -1 | -0.05 | 6.6 | 1.8 | 12 | 16 | 13 | 15 |
| DES115 | 439950 | 6832600 | 1 | -0.05 | 5.8 | 1.6 | 9 | 12 | 10 | 10 |
| DES116 | 440000 | 6832600 | -1 | -0.05 | 8.6 | 2.2 | 12 | 14 | 11 | 12 |
| DES117 | 440050 | 6832600 | 1 | -0.05 | 7.4 | 2.2 | 11 | 13 | 12 | 12 |
| DES118 | 440100 | 6832600 | -1 | -0.05 | 6 | 1.6 | 11 | 9 | 10 | 9 |
| DES119 | 440150 | 6832600 | 1 | -0.05 | 6.8 | 2 | 9 | 13 | 12 | 11 |
| DES120 | 440200 | 6832600 | -1 | -0.05 | 8 | 3.6 | 10 | 12 | 16 | 14 |
| DES121 | 440250 | 6832600 | 1 | -0.05 | 8.8 | 3 | 10 | 15 | 14 | 16 |
| DES122 | 440300 | 6832600 | -1 | -0.05 | 8 | 2.6 | 9 | 12 | 14 | 13 |
| DES123 | 440350 | 6832600 | -1 | -0.05 | 8.4 | 2.6 | 10 | 14 | 17 | 14 |
| DES124 | 440400 | 6832600 | -1 | -0.05 | 8.8 | 2.8 | 10 | 10 | 15 | 11 |
| DES125 | 440450 | 6832600 | 1 | -0.05 | 9.2 | 2.4 | 11 | 14 | 18 | 14 |
| DES126 | 440500 | 6832600 | -1 | -0.05 | 8 | 1.6 | 12 | 14 | 16 | 13 |
| DES127 | 440550 | 6832600 | -1 | -0.05 | 8 | 1.6 | 11 | 15 | 12 | 14 |
| DES128 | 440600 | 6832600 | -1 | -0.05 | 8.2 | 1.4 | 14 | 15 | 15 | 18 |
| DES129 | 440650 | 6832600 | -1 | -0.05 | 7.4 | 1.4 | 12 | 15 | 13 | 13 |
| DES130 | 440700 | 6832600 | -1 | -0.05 | 7.4 | 1.4 | 12 | 16 | 15 | 16 |
| DES131 | 440750 | 6832600 | -1 | -0.05 | 7 | 1.4 | 11 | 13 | 14 | 16 |
| DES132 | 440800 | 6832600 | 1 | -0.05 | 8 | 1.6 | 14 | 25 | 15 | 22 |
| DES133 | 440850 | 6832600 | -1 | -0.05 | 6.8 | 1 | 15 | 15 | 10 | 11 |
| DES134 | 440900 | 6832600 | 2 | -0.05 | 9 | 1.2 | 15 | 16 | 12 | 12 |
| DES135 | 440950 | 6832600 | -1 | -0.05 | 12 | 1.4 | 14 | 14 | 14 | 13 |
| DES136 | 441000 | 6832600 | 4 | -0.05 | 21.6 | 1.8 | 21 | 18 | 15 | 15 |
| DES137 | 441050 | 6832600 | 10 | -0.05 | 12 | 1.2 | 21 | 13 | 18 | 10 |
| DES138 | 441100 | 6832600 | 6 | -0.05 | 14.8 | 1.2 | 20 | 18 | 14 | 11 |
| DES139 | 441150 | 6832600 | 2 | -0.05 | 11.6 | 1.2 | 15 | 19 | 15 | 14 |
| DES140 | 441200 | 6832600 | 1 | -0.05 | 18.4 | 1.4 | 19 | 27 | 16 | 17 |
| DES141 | 441250 | 6832600 | 2 | -0.05 | 11.8 | 1.2 | 14 | 33 | 17 | 23 |
| DES142 | 443000 | 6833450 | 1 | -0.05 | 4.6 | 1.6 | 11 | 23 | 14 | 29 |
| DES143 | 443000 | 6833500 | -1 | -0.05 | 6.6 | 2.2 | 14 | 29 | 15 | 34 |
| DES144 | 443000 | 6833550 | 1 | -0.05 | 7.4 | 4.2 | 20 | 26 | 22 | 38 |
| DES145 | 443000 | 6833600 | 2 | -0.05 | 6.8 | 2.8 | 17 | 24 | 19 | 32 |
| DES146 | 443000 | 6833650 | 1 | -0.05 | 6.6 | 3 | 20 | 31 | 24 | 46 |
Page 11 of 13
| DES147 | 443000 | 6833700 | 2 | -0.05 | 6.2 | 3 | 15 | 23 | 20 | 34 |
|---|---|---|---|---|---|---|---|---|---|---|
| DES148 | 443000 | 6833750 | 1 | -0.05 | 5.8 | 3 | 17 | 28 | 24 | 40 |
| DES149 | 443000 | 6833800 | 2 | -0.05 | 3.6 | 1 | 14 | 25 | 28 | 38 |
| DES150 | 443000 | 6833850 | -1 | -0.05 | 3.6 | 1 | 14 | 21 | 24 | 33 |
| DES151 | 443000 | 6833900 | -1 | -0.05 | 3.6 | 1.4 | 13 | 14 | 18 | 25 |
| DES152 | 443000 | 6833950 | -1 | -0.05 | 3.8 | 1.8 | 14 | 18 | 19 | 26 |
| DES153 | 443000 | 6834000 | -1 | -0.05 | 4.2 | 1.8 | 14 | 15 | 18 | 25 |
| DES154 | 443000 | 6834050 | -1 | -0.05 | 3.6 | 2 | 14 | 14 | 16 | 22 |
| DES155 | 443000 | 6834100 | -1 | -0.05 | 4 | 2.2 | 14 | 14 | 15 | 24 |
| DES156 | 443000 | 6834150 | -1 | -0.05 | 3 | 2.4 | 11 | 10 | 11 | 16 |
| DES157 | 443000 | 6834200 | -1 | -0.05 | 3 | 2.8 | 12 | 9 | 11 | 15 |
| DES158 | 443000 | 6834250 | -1 | -0.05 | 3 | 2.8 | 12 | 9 | 11 | 17 |
| DES159 | 443000 | 6834300 | -1 | -0.05 | 3 | 1.6 | 12 | 12 | 14 | 21 |
| DES160 | 443000 | 6834350 | -1 | -0.05 | 3 | 2.8 | 19 | 16 | 16 | 31 |
| DES161 | 443000 | 6834400 | -1 | -0.05 | 2.8 | 1 | 16 | 18 | 19 | 35 |
| DES162 | 443000 | 6833400 | -1 | -0.05 | 4.8 | 1.4 | 12 | 24 | 19 | 32 |
| DES163 | 443000 | 6833350 | -1 | -0.05 | 4.2 | 1.4 | 9 | 18 | 17 | 27 |
| DES164 | 443000 | 6833300 | -1 | -0.05 | 4.8 | 1.4 | 9 | 20 | 22 | 31 |
| DES165 | 443000 | 6833250 | -1 | -0.05 | 4.8 | 1.4 | 11 | 24 | 19 | 30 |
| DES166 | 443000 | 6833200 | -1 | -0.05 | 5 | 1.4 | 11 | 25 | 21 | 33 |
| DES167 | 443000 | 6833150 | -1 | -0.05 | 4.8 | 1.4 | 10 | 24 | 22 | 39 |
| DES168 | 443000 | 6833100 | -1 | -0.05 | 5 | 1.2 | 9 | 23 | 20 | 37 |
| DES169 | 443000 | 6833050 | -1 | -0.05 | 4.8 | 1.2 | 10 | 23 | 25 | 32 |
| DES170 | 443000 | 6833000 | -1 | -0.05 | 5 | 1.2 | 9 | 25 | 24 | 35 |
| DES171 | 443000 | 6832950 | -1 | -0.05 | 5.6 | 1.2 | 10 | 27 | 25 | 39 |
| DES172 | 443000 | 6832900 | -1 | -0.05 | 5.2 | 1.4 | 10 | 27 | 30 | 38 |
| DES173 | 443000 | 6832850 | -1 | -0.05 | 5 | 1.2 | 11 | 27 | 22 | 41 |
| DES174 | 443000 | 6832800 | -1 | -0.05 | 4.8 | 1.2 | 9 | 28 | 26 | 37 |
| DES175 | 443000 | 6832750 | -1 | -0.05 | 4.2 | 1 | 10 | 26 | 24 | 35 |
| DES176 | 443000 | 6832700 | -1 | -0.05 | 4.6 | 1 | 10 | 29 | 29 | 35 |
| DES177 | 443000 | 6832650 | -1 | -0.05 | 4.8 | 1 | 10 | 29 | 26 | 34 |
| DES178 | 443000 | 6832600 | -1 | -0.05 | 4.2 | 1 | 10 | 29 | 29 | 34 |
| DES179 | 443000 | 6832550 | -1 | -0.05 | 4.4 | 1 | 9 | 28 | 24 | 32 |
| DES180 | 443000 | 6832500 | -1 | -0.05 | 4.6 | 1 | 10 | 29 | 27 | 29 |
| DES181 | 443000 | 6832450 | -1 | -0.05 | 4.8 | 0.8 | 10 | 29 | 27 | 28 |
| DES182 | 443000 | 6832400 | -1 | -0.05 | 5 | 0.8 | 9 | 29 | 29 | 33 |
| DES183 | 443000 | 6832350 | 1 | -0.05 | 5.6 | 0.8 | 10 | 34 | 39 | 42 |
| DES184 | 443000 | 6832300 | 1 | -0.05 | 7.6 | 1.4 | 10 | 54 | 62 | 71 |
| DES185 | 442000 | 6833300 | -1 | -0.05 | 12.6 | 1.4 | 19 | 39 | 28 | 30 |
| DES186 | 442000 | 6833350 | -1 | -0.05 | 12.8 | 1.6 | 18 | 37 | 31 | 33 |
| DES187 | 442000 | 6833400 | 2 | 0.05 | 11.8 | 1.6 | 17 | 32 | 23 | 30 |
| DES188 | 442000 | 6833450 | -1 | 0.1 | 14 | 1.8 | 22 | 38 | 29 | 30 |
| DES189 | 442000 | 6833500 | -1 | -0.05 | 11 | 1.4 | 17 | 34 | 29 | 31 |
| DES190 | 442000 | 6833550 | -1 | -0.05 | 11.6 | 1.6 | 19 | 28 | 28 | 30 |
| DES191 | 442000 | 6833600 | 1 | -0.05 | 9 | 1.4 | 16 | 25 | 18 | 19 |
| DES192 | 442000 | 6833650 | -1 | -0.05 | 6.8 | 1.2 | 11 | 16 | 15 | 19 |
| DES193 | 442000 | 6833700 | -1 | -0.05 | 6 | 1.4 | 9 | 11 | 10 | 14 |
| DES194 | 442000 | 6833750 | -1 | -0.05 | 5.8 | 1.4 | 9 | 11 | 9 | 15 |
| DES195 | 442000 | 6833800 | -1 | -0.05 | 4.6 | 1.4 | 9 | 12 | 8 | 16 |
Page 12 of 13
| DES196 | 442000 | 6833850 | -1 | -0.05 | 3.8 | 1.6 | 8 | 13 | 9 | 16 |
|---|---|---|---|---|---|---|---|---|---|---|
| DES197 | 442000 | 6833900 | -1 | -0.05 | 3 | 1.6 | 7 | 9 | 9 | 13 |
| DES198 | 442000 | 6833950 | -1 | -0.05 | 2.8 | 2.6 | 7 | 8 | 7 | 13 |
| DES199 | 442000 | 6834000 | -1 | -0.05 | 2.6 | 3.8 | 7 | 8 | 8 | 13 |
| DES200 | 442000 | 6834050 | -1 | -0.05 | 2.8 | 4.4 | 8 | 9 | 9 | 15 |
| DES201 | 442000 | 6834100 | -1 | -0.05 | 2.8 | 4.2 | 8 | 8 | 7 | 15 |
| DES202 | 442000 | 6834150 | -1 | -0.05 | 2.6 | 3.4 | 7 | 6 | 8 | 12 |
| DES203 | 442000 | 6834200 | -1 | -0.05 | 2.6 | 2.2 | 6 | 6 | 6 | 12 |
| DES204 | 442000 | 6834250 | -1 | -0.05 | 2.8 | 2.8 | 8 | 8 | 5 | 16 |
| DES205 | 442000 | 6834300 | -1 | -0.05 | 2.8 | 3 | 11 | 11 | 10 | 19 |
| DES206 | 442000 | 6834350 | -1 | -0.05 | 2.8 | 3 | 10 | 9 | 10 | 20 |
| DES207 | 442000 | 6834400 | -1 | -0.05 | 3 | 2.6 | 11 | 12 | 12 | 19 |
Page 13 of 13
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 LIMITED
ABN
81 151 185 867
Quarter ended (“current quarter”) 30 JUNE 2016
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 |
|---|---|---|
| - (66) - - (147) 2 - - - |
- (118) - - (737) - 16 - - - |
|
| (211) | (839) | |
| 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) |
- - - - - - - - - |
- - - - - - - - - |
| - | - | |
| (211) | (839) |
- 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) |
(211) | (839) |
|---|---|---|
| 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 |
165 - - - - - |
165 - - - - - |
| 165 | 165 | |
| 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 |
(46) 898 - |
(674) 1526 - |
| 852 | 852 |
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 |
|---|---|---|
| 25 | ||
| - | ||
| 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.
Appendix 5B Page 2
01/05/2013
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
| 4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration |
$A’000 |
|---|---|
| 100 | |
| - | |
| - | |
| 200 | |
| Total | 300 |
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) |
4 | 1 |
| 848 | 897 | |
| - | - | |
| - | - | |
| Total: cash at end of quarter(item 1.22) | 852 | 898 |
- 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 |
||||
| 7.3 +Ordinary securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs |
21,131,251 | 21,131,251 | N/A | N/A |
| 2,756,250 | 2,756,250 | $0.06 | $0.06 | |
| 7.5 +Convertible debt securities (description) |
N/A |
- See chapter 19 for defined terms.
Appendix 5B Page 4
01/05/2013
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 |
16,625,000 | - | Exercise price 20 cents |
Expiry date 11 July 2016 |
| 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: 26/07/2016 Director Print name: Simon Durack.....................................
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
- 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
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.
Appendix 5B Page 6
01/05/2013