ORA BANDA MINING LTD — Interim / Quarterly Report 2021

Jul 27, 2021

ASX Announcement (ASX:OBM)

28 July 2021

JUNE 2021 – QUARTERLY ACTIVITIES REPORT

Commissioning Continues and Promising Exploration Results

Highlights for three months to 30 June 2021 include:

• Mining commenced at the Missouri open pit.

• A successful placement and SPP completed to raise $21.7M.

• Materially improved performance from Golden Eagle Underground mine.

Capital Works Program

• Construction of new tailings storage facility cell commenced.

• Exploration & Resource Definition

• $3.3 million investment in exploration during the quarter.

• Highly promising drill results received for the Iguana deposit.

• Significant number of assay results remain outstanding.

Corporate & Finance

• Gold sales of 10,665 oz for the Quarter at an average price of A$2,352 per oz.

• FY21 full year production of 14,726 oz gold

• Cash of $24.22 million, unsold bullion of 857 oz Au with no debt at 30 June 2021.

Outlook

• The company is forecasting continued ramp-up in July, achieving DFS levels of production from August onwards for budgeted FY22 gold production of 80,866 oz.

• Events Post 30 June 2021:

• Structural mapping of the Golden Eagle underground mine has resulted in a new interpretation for the mineralisation in the central zone. Drilling to test this theory commenced in late July.

Ora Banda Mining Limited (ASX:OBM) (“Ora Banda”, “Company”) is pleased to report on its activities for the June quarter, a quarter in which the Company continued its open pit and underground mining operations at Riverina and Golden Eagle respectively, commenced operations at the Missouri open pit and continued commissioning the Davyhurst processing plant. Gold production for the Quarter was impacted by plant stability issues and lower than forecast grade into the plant; improvement initiatives are underway in both these areas.

Recruitment and training remained a high priority during the quarter. The labour market for skilled open pit mine workers in Western Australia remains extremely tight and highly competitive and this has in turn led to abnormally high workforce turnover levels. The inability to recruit suitable personnel from outside Western Australia due to travel restrictions and quarantine requirements associated with COVID-19 continues to negatively impact productivity in a very tight labour market. Ora Banda staffing levels were however improved quarter on quarter.

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Project Report

Mining

In addition to ongoing mining at Riverina and Golden Eagle, mining operations commenced at the Missouri open pit. During the quarter initial machinery was mobilised to site and works commenced re-entering the historic pit and commencing preparations for full scale operations. A minor amount of ore was extracted from the Missouri pit during the quarter. A summary of mine production at Davyhurst is set out in the table below.

Davyhurst Gold Project Mining Units FY2020	Davyhurst Gold Project Mining Units FY2020	Davyhurst Gold Project Mining Units FY2020	Sep-20 Dec-20 Mar-21 Jun-21 Quarter FY 2021	Sep-20 Dec-20 Mar-21 Jun-21 Quarter FY 2021	Sep-20 Dec-20 Mar-21 Jun-21 Quarter FY 2021	Sep-20 Dec-20 Mar-21 Jun-21 Quarter FY 2021	Sep-20 Dec-20 Mar-21 Jun-21 Quarter FY 2021
Open Pit
Riverina
Waste Mined	bcm	-	-	368,486	1,095,832	1,096,114	2,560,432
Ore Mined	t	-	-	93,039	140,361	316,299	549,699
Grade	g/t	-	-	1.34	1.22	1.22	1.24
Contained Gold	oz	-	-	3,995	5,512	12,408	21,915
Missouri
Waste Mined	bcm	-	-	-	-	46,062	46,062
Ore Mined	t	-	-	-	-	6,339	6,339
Grade	g/t	-	-	-	-	1.28	1.28
Contained Gold	oz	-	-	-	-	261	261
Underground
Golden Eagle
Ore Mined	t	-	-	-	25,235	72,235	97,470
Grade	g/t	-	-	-	3.70	2.43	2.76
Contained Gold	oz	-	-	-	3,004	5,641	8,645
Davyhurst Total
Ore Mined	t	-	-	93,039	165,596	394,873	653,508
Grade	g/t	-	-	1.34	1.60	1.44	1.47
Contained Gold	oz	-	-	3,995	8,516	18,310	30,821

Open Pit Mining – Riverina

Open pit mining activities at Riverina continued during the quarter. Approximately seven and a half working days were lost due to weather events.

Productivity remained consistent, even with the increasing drill and blast requirements of the pit moving deeper. Late in the quarter the 200t digger was demobilised from Riverina to Missouri as part of a planned re-allocation of resources with the Riverina pit moving deeper and the Phase 1 waste movement requirements diminishing. The 200t digger moved some waste from the Phase 2 mine plan before its relocation.

For the full year the Riverina operations were slightly ahead of gold mined as compared to budget. Project to date, the mined gold from Riverina is broadly in line with the Ore Reserve, being approximately 1,000 oz mined in excess of the Reserve estimate, albeit being comprised of more tonnes at a lower grade.

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Riverina open pit (looking south).

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Riverina open pit (looking south).

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Open Pit Mining – Missouri

During the quarter Ora Banda commenced mining operations at the Missouri open pit mine. Site offices and communications were established and some initial mining equipment was mobilised to site to enable preparatory works in and around the pit to commence. As previously mentioned, the 200t digger from Riverina was mobilised to site late in the month of June to commence cut back operations. The remaining trucks and a new excavator will be mobilised to site during the first quarter of financial year 2022.

The Missouri deposit has previously been mined, with the pit floor containing historically blasted material. The pit floor as well as the ramp needed some remedial work to enable operations to commence at full production levels, and this will be completed by the end of July. Ore will be mined as part of this process, with 6,339 t @ 1.28 g/t being mined during the June quarter.

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Missouri initial office, workshop and fuel farm set-up

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Establishing working area, bunds and pit floor at Missouri

Underground Mining – Golden Eagle

Operations at the Golden Eagle underground mine were dramatically improved during the quarter. Total development achieved for the quarter was 637m and total ore mined was 72,235 t @ 2.45 g/t for 5,692 oz. This equates to 1.9 times more development and 2.9 times more ore produced as compared to the prior quarter.

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Ore drive underground at Golden Eagle

Similarly with open pit operations, the labour market for skilled underground mine workers in Western Australia remains extremely tight and highly competitive and this has in turn led to high workforce turnover levels. We are however pleased to report that, similar to Ora Banda, our underground contractor Pit N Portal has also improved their staffing, which greatly assisted the improved performance seen in the quarter.

Processing

Ore processed for the quarter totalled 201,817 tonnes at an average grade of 1.81 g/t for 11,733 oz of contained gold. A summary of process plant production at Davyhurst is set out in the table below.

Davyhurst Gold Project Processing Units	Davyhurst Gold Project Processing Units	FY 2020	Sep-20 Dec-20 Mar-21 Jun-21 Quarter FY 2021	Sep-20 Dec-20 Mar-21 Jun-21 Quarter FY 2021	Sep-20 Dec-20 Mar-21 Jun-21 Quarter FY 2021	Sep-20 Dec-20 Mar-21 Jun-21 Quarter FY 2021	Sep-20 Dec-20 Mar-21 Jun-21 Quarter FY 2021
Ore Processed
Ore Processed	t	-	-	-	128,500	201,817	330,317
Head Grade	g/t	-	-	-	1.53	1.81	1.70
Contained Gold	oz	-	-	-	6,319	11,733	18,052
Recovery	%	-	-	-	90.8%	87.2%	88.5%
Gold Poured	oz	-	-	-	4,370	10,356	14,726
Gold Sold	oz	-	-	-	3,204	10,665	13,869
Bullion on Hand	oz	-	-	-	1,166	857	857

Processing and processing plant throughput was negatively impacted by several significant factors during the quarter. The most significant of these remained around materials handling characteristics. Slurry viscosity of the predominantly oxide feed blend resulted in lower than forecast leach and adsorption tank slurry densities than design. This resulted in lower than forecast throughput early in the quarter. As the quarter progressed, and the percentage of oxide in the feed reduced, the viscosity issues previously seen in the plant decreased. The higher throughput capacity in the wet end of the plant was not however matched by the dry circuit of the

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plant, with several issues highlighted in the crushing circuit. The largest limitation was the SKALA double screen, which contributed to 46% of plant downtime in June due to oxide material blinding the screens and creating screen panel failures. Other downtime of note was contributed by power failures with every rain event. The company has arranged for powerline insulators to be replaced to address the power failure issue. The company continues to work with GR Engineering and SKALA on the screen issues. New panels with different physical characteristics designed to self clean are being installed in the screen late July. The Company has also arranged for a mobile crushing unit to supplement feed stock to the milling circuit while the crushing circuit is being rectified. The mobile crusher will also be arriving late July.

It is noted that the processed head grade increased from 1.53gpt to 1.81gpt quarter on quarter, reflecting improvements gained from Ora Banda’s stockpiling strategy and improved mining performance.

Projects

Construction of a new tailings storage facility (TSF) cell commenced during the quarter. Initial clearing and grubbing of the site was conducted by Ora Banda utilising its fleet of equipment. Construction work is scheduled to commence at the start of July and will be completed by contractors with the requisite skills and experience to ensure the tailings storage facility is constructed to a high standard.

Earthworks for the TSF are scheduled to be complete during the September quarter. Piping and other ancillary works will be completed the following quarter.

The on-site preparation laboratory project remains on track to be operational this coming quarter.

Exploration Report

Exploration and evaluation activities included drilling, assaying of samples and data evaluation at the Davyhurst Gold Project.

A total of 13,608.8 metres of mineral exploration and resource definition drilling were completed during the quarter. Drilling comprised:

• Air-core 3,687 metres

• Reverse Circulation 5,050 metres

• Underground diamond 3,959 metres

• Surface diamond 912.8 metres

Exploration and resource definition sample assay turnaround times are extremely long with results for the majority of exploration samples submitted during the quarter still pending.

Air Core Regional Exploration Drilling

A total of 3,687 metres of first pass air core drilling was completed during the quarter over three individual prospects. This completed the first phase of an ongoing program of drill testing a number of high priority grass root targets that are dispersed throughout the project area. Assay results for the bulk of these samples are still pending. The air core rig demobilised from site during the quarter. Once assay results are received and reviewed a second phase of drilling will be implemented to follow up anomalous results and test further targets identified in ongoing project reviews.

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Reverse Circulation Exploration Drilling

A total of 1,300 metres of exploration RC drilling was completed over three exploration prospects (Victoria, Golden Marvel and Blue Tongue)

The Company is currently awaiting assay return on all regional exploration drilling samples.

Iguana Resource Infill & Extension Drilling

On 28 June the Company announced to the ASX significant drilling results from the Phase 1 Iguana drilling program. A total of 3,750 metres of Phase 1 RC drilling was completed during the quarter, which is the first phase in a larger 69 hole, 10,400 metre program. The larger program includes Phase 1 of 3,750 metres (complete), 500 metres of diamond core drilling in Phase 2, and a further 6,150 metres of reverse circulation in Phase 3.

The Iguana infill and extensional drilling program is aimed at upgrading the current mineral resource of 2,722,000 t @ 2.0 g/t for 175,000 oz as part of a larger development plan for this deposit. Current Inferred material will be upgraded to Indicated, allowing work to commence on the creation of an Ore Reserve to extend the existing Davyhurst Project mine life.

Significant assay results returned to date include:

• 9.0m @ 7.6 g/t from 181m (Including 7.0m @ 9.6 g/t)

• 30.0m @ 2.2 g/t from 31m (Including 23.0m @ 2.7 g/t)

• 21.0m @ 3.2 g/t from 69m (Including 1.0m @ 41.3 g/t & 7.0m @ 3.5 g/t)

• 32.0m @ 2.0 g/t from 35m (Including 13.0m @ 3.1 g/t)

• 11.0m @ 5.0 g/t from 196m (Including 3.0m @ 16.1 g/t)

• 10.0m @ 4.4 g/t from 164m

• 10.0m @ 4.0 g/t from 72m (Including 8.0m @ 4.8 g/t)

• 8.0m @ 4.8 g/t from 44m (Including 5.0m @ 7.3 g/t)

• 8.0m @ 4.5 g/t from 69m (Including 2.0m @ 16.24 g/t)

• 10.0m @ 3.3 g/t from 136m

• 4.0m @ 7.9 g/t from 68m

• 12.0m @ 2.6 g/t from 28m (Including 8.0m @ 3.4 g/t)

• 4.0m @ 7.6 g/t from 84m

• 6.0m @ 5.1 g/t from 32m (Including 2.0m @ 14.2 g/t)

• 23.0m @ 1.2 g/t from 124m

• 2.0m @ 13.6 g/t from 136m

• 4.0m @ 6.2 g/t from 38m (Including 2.0m @ 11.9 g/t)

• 15.0m @ 1.6 g/t from 27m (Including 3.0m @ 3.6 g/t)

• 10.0m @ 2.2 g/t from 123m (Including 2.0m @ 8.1 g/t)

• 5.0m @ 4.1 g/t from 70m (Including 2.0m @ 9.7 g/t)

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Iguana drill hole location plan with significant intercepts

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Riverina South (including British Lion) Resource Infill Drilling

A total of 50 metres of resource definition drilling was completed at the northern end of British Lion, drilling consisted of 1 Diamond tail for 50 m (RVDD20199), this completing the last of all planned phase 3 drilling.

The maiden Mineral Resource for the Riverina South Project (as declared 9 October 2020) totalled 650,000 t at 2.1 g/t for 43,000 oz which includes both an open pit component (includes material constrained within A$2,400 optimised pit shells with a grade greater than 0.5 g/t Au) and an underground component (includes material that is outside the A$2,400 pit shells with a grade greater than 2.0 g/t Au). The current drilling, aimed at upgrading this inferred resource to an indicated category, is now complete and work has commenced on the resource estimation upgrade which will then potentially lead to the establishment of an Ore Reserve position for this deposit. The resource estimation upgrade will be completed in the September quarter once all assay results have been received.

The Company is currently evaluating the viability of including potential mine extensions associated with the Riverina South deposit into the current mine plan.

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Cross section showing Riverina South mineralisation and preliminary optimised pit (A$2400)

Riverina Underground Drilling

A total of 862.8 metres of diamond drilling was completed during the quarter which completed the Riverina underground drilling program. Core logging and processing was ongoing during the quarter with an updated resource estimation expected early in the September quarter.

This drilling was targeted at extending and upgrading the current Riverina underground Mineral Resource of 728,000 t at 5.9 g/t for 139,000 oz (see Appendix 3).

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Golden Eagle Underground Drilling

On 28 May the Company announced to the ASX significant drilling results from the Golden Eagle underground drilling program. A total of 3,959 infill diamond metres were drilled at the Golden Eagle underground during the quarter.

Significant assay results returned to date include:

• 19.0m @ 5.4 g/t

• 5.8m @ 15.0 g/t

• 14.6m @ 4.8 g/t

• 7.3m @ 9.4 g/t

• 13.8m @ 4.1 g/t

This drilling was targeted at extending and upgrading the current Golden Eagle underground resource (393,000 t at 3.9 g/t for 49,000 oz) (see Appendix 3). Processing and sampling of the diamond core was continuing at the end of the reporting period as the Company awaits assay return on 33 holes. The location of these holes can be seen on the long section below.

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Golden Eagle Long Section looking east

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Corporate and Finance

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Costs for the quarter were largely in line with those estimated in the DFS, however the costs per ounce were adversely impacted by the low gold production achieved for the quarter.

Share & Option Issues

The following table summarises share, option and performance right movements during the June quarter:

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Capital Structure

At the date of this report the issued capital of the Company is:

Fully Paid Ordinary Shares 968,763,876 Unlisted Options 26,334,237 Performance Rights on Issue 10,002,768

The company announced and completed a placement during the quarter, raising $21M before costs at $0.17/sh and an additional $745,000 with a Share Purchase Plan at the same price. The raising was well supported both domestically and internationally by new and existing shareholders.

Cash Position

The Company cash and unsold bullion on hand at 30 June were $24.22 million and 857 oz Au respectively with no debt. After adjusting for bullion, GST and creditors the Company has a working capital position of $15.8M. Refer to the accompanying Appendix 5B for cash movements during the quarter.

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Events Post 30 June 2021

A detailed structural mapping of the Golden Eagle underground deposit was conducted which provided higher confidence in our new interpretation. A drill program to confirm the re-interpretation has commenced.

David Quinlivan has moved from the position of Managing Director to Non-Executive Director. Peter Nicholson has been promoted from CEO to the MD role.

This announcement was authorised for release to ASX by Peter Nicholson, Managing Director. For more information about Ora Banda Mining and its projects please visit the website at www.orabandamining.com.au

Investor & Media Queries:

Peter Nicholson Managing Director +61 8 6365 4548 admin@orabandamining.com.au

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Competent Persons Statement

The information in this announcement that relates to exploration results, and the Riverina, Waihi, Golden Eagle, Sand King, Missouri and Callion Mineral Resources is based on information compiled under the supervision of Mr Andrew Czerw, an employee of Ora Banda Mining Limited, who is a Member of the Australian Institute of Mining and Metallurgy. Mr Czerw has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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 Czerw consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Sand King, Missouri, Riverina, Waihi, Golden Eagle, and Callion Mineral Resources are reported in accordance with the JORC Code (2012). The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements dated 15 December 2016 (Missouri) and 3 January 2017 (Sand King), 2 December 2019 (Riverina), 4 February 2020 (Waihi), 8 April 2020 (Golden Eagle), 15 May 2020 (Callion) and restated in market announcement ‘Davyhurst Gold Project - Ore Reserve Update’ dated 26 May 2020. The Company further confirms that all material assumptions and technical parameters underpinning the Mineral Resource estimates in the relevant market announcements continue to apply and have not materially changed.

Mineral Resources other than Sand King, Missouri, Riverina, Waihi, Golden Eagle and Callion, were first reported in accordance with the JORC 2004 code in Swan Gold Mining Limited Prospectus released to the market on 13 February 2013. Mineral Resources other than Sand King, Missouri Riverina, Waihi, Golden Eagle and Callion have not been updated to comply with JORC Code (2012) on the basis that the information has not materially changed since it was first reported.

The information in this report that relates to Ore Reserves is based on information compiled by Mr Geoff Davidson, who is an independent mining engineering consultant, and has sufficient relevant experience to advise Ora Banda Mining Limited on matters relating to mine design, mine scheduling, mining methodology and mining costs. Mr Davidson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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 Davidson is a Fellow member of the Australasian Institute of Mining and Metallurgy. Mr Davidson is satisfied that the information provided in this statement has been determined to a feasibility level of accuracy, based on the data provided by Ora Banda Mining Limited. Mr Davidson consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Forward-looking Statements

This announcement contains forward-looking statements which may be identified by words such as "believes", "estimates", "expects', "intends", "may", "will", "would", "could", or "should" and other similar words that involve risks and uncertainties. These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this announcement, are expected to take place.

Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, the Directors and management of the Company. These and other factors could cause actual results to differ materially from those expressed in any forward-looking statements.

The Company has no intention to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this announcement, except where required by law.

The Company cannot and does not give assurances that the results, performance or achievements expressed or implied in the forward-looking statements contained in this announcement will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements.

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Appendix 1 – Additional Information

Introduction

Ora Banda Mining’s Davyhurst Gold Project consists of five sub-regions:

• Mt Ida

• Riverina

• Davyhurst

• Callion

• Siberia

that collectively cover an area of 1,350 km[2] that extend over 200 km from north to south.

Safety

There were no Lost Time Injuries recorded during the quarter.

Environment

There were no significant environmental incidents during the quarter.

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Appendix 2 – Tenement Schedule

Tenement No.	Status	Registered Holder	Ownership	Location
E16/0344	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Coolgardie
E16/0456	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Coolgardie
E16/0473	Granted	CARNEGIE GOLD PTY LTD	100/100 Coolgardie
E16/0474	Granted	CARNEGIE GOLD PTY LTD	100/100 Coolgardie
E16/0475	Granted	CARNEGIE GOLD PTY LTD	100/100 Coolgardie
E16/0480	Granted	CARNEGIE GOLD PTY LTD	100/100 Coolgardie
E16/0482	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Coolgardie
E16/0483	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Coolgardie
E16/0484	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Coolgardie
E16/0486	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Coolgardie
E16/0487	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Coolgardie
E24/0203	Granted	ATRIPLEX PTY LIMITED	100/100 Kalgoorlie
E24/0230	Application	SIBERIA MINING CORPORATION PTY LTD	100/100 Kalgoorlie
E29/0640	Granted	MT IDA GOLD PTY LTD	100/100 Menzies
E29/0889	Granted	HERON RESOURCES LIMITED	100/100 Menzies
E29/0895	Granted	MT IDA GOLD PTY LTD	100/100 Menzies
E29/0955	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Kalgoorlie
E29/0964	Granted	Mt IDA PTY LTD	100/100 Menzies
E30/0333	Granted	CARNEGIE GOLD PTY LTD	100/100 Menzies
E30/0335	Granted	CARNEGIE GOLD PTY LTD	100/100 Coolgardie
E30/0338	Granted	CARNEGIE GOLD PTY LTD	100/100 Menzies
E30/0454	Granted	CARNEGIE GOLD PTY LTD	100/100 Menzies
E30/0468	Granted	CARNEGIE GOLD PTY LTD	100/100 Menzies
E30/0490	Granted	CARNEGIE GOLD PTY LTD	100/100 Menzies
E30/0491	Granted	CARNEGIE GOLD PTY LTD	100/100 Menzies
E30/0504	Application	CARNEGIE GOLD PTY LTD	100/100 Menzies
G30/0006	Application	CARNEGIE GOLD PTY LTD	100/100 Menzies
G30/0007	Application	CARNEGIE GOLD PTY LTD	100/100 Menzies
G30/0008	Granted	CARNEGIE GOLD PTY LTD	100/100 Menzies
G30/0009	Granted	CARNEGIE GOLD PTY LTD	100/100 Menzies
L15/0224	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Coolgardie
L16/0058	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Coolgardie
L16/0062	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Coolgardie

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L16/0072	Granted	CARNEGIE GOLD PTY LTD	100/100 Coolgardie	100/100 Coolgardie
Tenement No.	Status	Registered Holder	Ownership	Location
L16/0073	Granted	CARNEGIE GOLD PTY LTD	100/100 Coolgardie
L16/0103	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Coolgardie
L16/0134	Application	SIBERIA MINING CORPORATION PTY LTD	100/100 Coolgardie
L16/0137	Application	SIBERIA MINING CORPORATION PTY LTD	100/100 Coolgardie
L16/0138	Application	SIBERIA MINING CORPORATION PTY LTD	100/100 Coolgardie
L24/0085	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Coolgardie
L24/0115	Granted	SIBERIA MINING CORPORATION PTY LTD	96/96 Kalgoorlie
L24/0170	Granted	CARNEGIE GOLD PTY LTD	100/100 Kalgoorlie
L24/0174	Granted	CARNEGIE GOLD PTY LTD	100/100 Kalgoorlie
L24/0188	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Kalgoorlie
L24/0224	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Kalgoorlie
L24/0233	Granted	CARNEGIE GOLD PTY LTD	100/100 Kalgoorlie
L24/0240	Granted	CARNEGIE GOLD PTY LTD	100/100 Kalgoorlie
L24/0242	Application	CARNEGIE GOLD PTY LTD	100/100 Kalgoorlie
L24/0246	Application	SIBERIA MINING CORPORATION PTY LTD	100/100 Kalgoorlie
L29/0074	Granted	MT IDA GOLD PTY LTD	100/100 Menzies
L30/0035	Granted	CARNEGIE GOLD PTY LTD	96/96 Menzies
L30/0037	Granted	CARNEGIE GOLD PTY LTD	100/100 Menzies
L30/0066	Granted	CARNEGIE GOLD PTY LTD	100/100 Menzies
L30/0069	Granted	CARNEGIE GOLD PTY LTD	100/100 Menzies
L30/0074	Granted	CARNEGIE GOLD PTY LTD	100/100 Menzies
L30/0077	Application	CARNEGIE GOLD PTY LTD	100/100 Menzies
L30/0078	Application	CARNEGIE GOLD PTY LTD	100/100 Menzies
L30/0079	Application	CARNEGIE GOLD PTY LTD	100/100 Menzies
L30/0080	Application	CARNEGIE GOLD PTY LTD	100/100 Menzies
L30/0081	Application	CARNEGIE GOLD PTY LTD	100/100 Menzies
L30/0082	Application	CARNEGIE GOLD PTY LTD	100/100 Menzies
L30/0083	Application	CARNEGIE GOLD PTY LTD	100/100 Menzies
L30/0086	Application	CARNEGIE GOLD PTY LTD	100/100 Menzies
L30/0088	Application	CARNEGIE GOLD PTY LTD	100/100 Menzies
M16/0262	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Coolgardie
M16/0263	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Coolgardie
M16/0264	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Coolgardie

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M16/0268	Granted	CARNEGIE GOLD PTY LTD	100/100 Coolgardie	100/100 Coolgardie
M16/0470	Granted	CARNEGIE GOLD PTY LTD	100/100 Coolgardie
M24/0039	Granted	CHARLES ROBERT GARDNER	96/96 Kalgoorlie
Tenement No.	Status	Registered Holder	Ownership	Location
M24/0115	Granted	SIBERIA MINING CORPORATION PTY LTD	96/96 Kalgoorlie
M24/0159	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Kalgoorlie
M24/0208	Granted	SIBERIA MINING CORPORATION PTY LTD	96/96 Kalgoorlie
M24/0376	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Kalgoorlie
M24/0634	Granted	HERON RESOURCES LIMITED	100/100 Kalgoorlie
M24/0660	Granted	HERON RESOURCES LIMITED	100/100 Kalgoorlie
M24/0663	Granted	HERON RESOURCES LIMITED	100/100 Kalgoorlie
M24/0664	Granted	HERON RESOURCES LIMITED	100/100 Kalgoorlie
M24/0665	Granted	HERON RESOURCES LIMITED / IMPRESS ENERGY	90/100 & 10/100 Kalgoorlie
M24/0683-I	Granted	HERON RESOURCES LIMITED	100/100 Kalgoorlie
M24/0686	Granted	HERON RESOURCES LIMITED	100/100 Kalgoorlie
M24/0757	Granted	HERON RESOURCES LIMITED	100/100 Kalgoorlie
M24/0772-I	Granted	HERON RESOURCES LIMITED	100/100 Kalgoorlie
M24/0797	Granted	HERON RESOURCES LIMITED	100/100 Kalgoorlie
M24/0845	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Kalgoorlie
M24/0846	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Kalgoorlie
M24/0847	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Kalgoorlie
M24/0848	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Kalgoorlie
M24/0915-I	Granted	HERON RESOURCES LIMITED	100/100 Kalgoorlie
M24/0916	Granted	HERON RESOURCES LIMITED	100/100 Kalgoorlie
M24/0960	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Kalgoorlie
M24/0973	Application	HERON RESOURCES LIMITED	100/100 Kalgoorlie
M29/0002	Granted	MT IDA GOLD PTY LTD	100/100 Menzies
M29/0165	Granted	MT IDA GOLD PTY LTD & STUART LESLIE HOOPER	95/100 & 5/100 Menzies
M29/0422	Granted	MT IDA GOLD PTY LTD	100/100 Menzies
M30/0102	Granted	CARNEGIE GOLD PTY LTD	100/100 Menzies
M30/0103	Granted	CARNEGIE GOLD PTY LTD	100/100 Menzies
M30/0111	Granted	CARNEGIE GOLD PTY LTD	100/100 Menzies
M30/0123	Granted	CARNEGIE GOLD PTY LTD	100/100 Menzies
M30/0126	Granted	CARNEGIE GOLD PTY LTD	100/100 Menzies
M30/0157	Granted	CARNEGIE GOLD PTY LTD	96/96 Menzies

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19 / 28

M30/0187	Granted	CARNEGIE GOLD PTY LTD	100/100 Coolgardie	100/100 Coolgardie
M30/0253	Granted	CARNEGIE GOLD PTY LTD	100/100 Menzies
M30/0255	Granted	CARNEGIE GOLD PTY LTD	100/100 Coolgardie
M30/0256	Granted	CARNEGIE GOLD PTY LTD	100/100 Menzies
P16/2921	Granted	CARNEGIE GOLD PTY LTD	100/100 Coolgardie
Tenement No.	Status	Registered Holder	Ownership	Location
P16/2922	Granted	CARNEGIE GOLD PTY LTD	100/100 Coolgardie
P24/4395	Granted	HERON RESOURCES LIMITED	100/100 Kalgoorlie
P24/4396	Granted	HERON RESOURCES LIMITED	100/100 Kalgoorlie
P24/4400	Granted	HERON RESOURCES LIMITED	100/100 Kalgoorlie
P24/4401	Granted	HERON RESOURCES LIMITED	100/100 Kalgoorlie
P24/4402	Granted	HERON RESOURCES LIMITED	100/100 Kalgoorlie
P24/4403	Granted	HERON RESOURCES LIMITED	100/100 Kalgoorlie
P24/4750	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Kalgoorlie
P24/4751	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Kalgoorlie
P24/4754	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Kalgoorlie
P24/5073	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Kalgoorlie
P24/5074	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Kalgoorlie
P24/5075	Granted	SIBERIA MINING CORPORATION PTY LTD	100/100 Kalgoorlie
P24/5536	Application	SIBERIA MINING CORPORATION PTY LTD	100/100 Kalgoorlie
P24/5537	Application	SIBERIA MINING CORPORATION PTY LTD	100/100 Kalgoorlie
P29/2328	Granted	MT IDA GOLD PTY LTD	100/100 Menzies
P29/2397	Granted	MT IDA GOLD PTY LTD	100/100 Menzies
P29/2398	Granted	MT IDA GOLD PTY LTD	100/100 Menzies
P29/2399	Granted	MT IDA GOLD PTY LTD	100/100 Menzies
P29/2400	Granted	MT IDA GOLD PTY LTD	100/100 Menzies
P29/2401	Granted	MT IDA GOLD PTY LTD	100/100 Menzies
P29/2402	Granted	MT IDA GOLD PTY LTD	100/100 Menzies
P29/2403	Granted	MT IDA GOLD PTY LTD	100/100 Menzies
P29/2404	Granted	MT IDA GOLD PTY LTD	100/100 Menzies
P29/2405	Granted	MT IDA GOLD PTY LTD	100/100 Menzies
P29/2406	Granted	MT IDA GOLD PTY LTD	100/100 Menzies
P29/2407	Granted	MT IDA GOLD PTY LTD	100/100 Menzies
P30/1122	Granted	CARNEGIE GOLD PTY LTD	100/100 Menzies

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20 / 28

Tenement Acquisitions & Disposals

Mining Tenements Disposed: Nil Mining Tenement Applications: E24/230, P24/5536 and P24/5537 Mining Tenements Granted: Nil

Beneficial interests (%) held in “Farm In” or “Farm Out” agreements: Nil Beneficial interests (%) in “Farm In” or “Farm Out” agreements acquired or disposed: Nil

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21 / 28

Appendix 3 – Mineral Resource and Reserve Tables

Mineral Resource Table

PROJECT	Cut-Off	('000t) (g/t Au) MEASURED	('000t) (g/t Au) MEASURED	INDICATED	INDICATED	INFERRED	INFERRED	('000t) (g/t Au) ('000oz.) TOTAL MATERIAL	('000t) (g/t Au) ('000oz.) TOTAL MATERIAL	('000t) (g/t Au) ('000oz.) TOTAL MATERIAL
			(g/t Au)	('000t)	(g/t Au)	('000t)	(g/t Au)	('000t)	(g/t Au)
GOLDEN EAGLE	2.0	-	-	247	4.1	146	3.4	393	3.9	49
LIGHTS OF ISRAEL	3.0	-	-	74	4.3	180	4.2	254	4.2	34
MAKAI SHOOT	1.0	-	-	1,985	2.0	153	1.7	2,138	2.0	137
Open Pit	0.5	-	-	1,948	2.4	131	2.9	2,079	2.4	159
WAIHI Un	d 2.0	-	-	188	3.7	195	4.0	383	3.8	47
TOTAL		-	-	2,136	2.5	326	3.5	2,462	2.6	206
Central Davyhurst Subtotal		-	-	4,442	2.4	805	3.3	5,247	2.5 427
LADY GLADYS	1.0	-	-	1,858	1.9	190	2.4	2,048	1.9	125
Open Pit	0.5	116	1.8	2,694	1.8	183	3.0	2,993	1.9	183
RIVERINA AREA Underground	2.0	-	-	226	5.7	502	6.1	728	5.9	139
TOTAL		116	1.8	2,920	2.1	685	5.3	3,721	2.7	322
Open Pit	0.5					523	1.8	523	1.8	30
RIVERINA SOUTH Underground	2.0					122	3.3	122	3.3	13
TOTAL						645	2.1	645	2.1	43
FOREHAND	1.0	-	-	386	1.7	436	1.9	822	1.8	48
SILVER TONGUE	1.0	-	-	155	2.7	19	1.3	174	2.5	14
SUNRAYSIA	1.0	-	-	175	2.1	318	2.0	493	2.0	32
Riverina-Mulline Subtotal		116	1.8	5,494	2.0	2,293	3.0	7,903	2.3 583
Open Pit	0.5	-	-	1,252	3.4	128	3.3	1,380	3.4	150
SAND KING Underground	2.0	-	-	438	3.7	698	3.8	1,136	3.7	136
TOTAL		-	-	1,690	3.5	826	3.7	2,516	3.5	286
Open Pit	0.5	-	-	1,460	3.4	17	3.5	1,477	3.4	160
MISSOURI Underground	2.0	-	-	364	3.4	258	3.4	622	3.4	68
TOTAL		-	-	1,824	3.4	275	3.4	2,099	3.4	227
PALMERSTON / CAMPERDOWN	1.0	-	-	118	2.3	174	2.4	292	2.4	23
BEWICK MOREING	1.0	-	-	-	-	50	2.3	50	2.3	4
BLACK RABBIT	1.0	-	-	-	-	434	3.5	434	3.5	49
THIEL WELL	1.0	-	-	-	-	18	6.0	18	6.0	3
Siberia Subtotal		-	-	3,632	3.4	1,777	3.5	5,409	3.4 592
Open Pit	0.5	-	-	241	3.7	28	1.6	269	3.5	30
Callion Underground	2.0	-	-	255	6.0	156	5.5	411	5.8	77
TOTAL		- -		496 4.9		184 4.9		680 4.9 107
Callion Subtotal		-	-	496	4.9	184	4.9	680	4.9	107
FEDERAL FLAG	1.0	32	2	112	1.8	238	2.5	382	2.3	28
SALMON GUMS	1.0	-	-	199	2.8	108	2.9	307	2.8	28
WALHALLA	1.0	-	-	448	1.8	216	1.4	664	1.7	36
WALHALLA NORTH	1.0	-	-	94	2.4	13	3.0	107	2.5	9
MT BANJO	1.0	-	-	109	2.3	126	1.4	235	1.8	14
MACEDON	1.0	-	-	-	-	186	1.8	186	1.8	11
Walhalla Subtotal		32	2.0	962	2.1	887	2.0	1,881	2.1 125
IGUANA	1.0	-	-	690	2.1	2,032	2.0	2,722	2.0	175
LIZARD	1.0	106	4	75	3.7	13	2.8	194	3.8	24
Lady Ida Subtotal		106	4.0	765 ,	2.3	2,045 ,	2.0	2,916 ,	2.1 199
Davyhurst Total		300	2.7	15,800	2.5	8,000	2.8	24,000	2.6	2,030
BALDOCK	-	-	-	136	18.6	0	0.0	136	18.6	81
METEOR	-	-	-	-	-	143	9.3	143	9.3	43
WHINNEN	-	-	-	-	-	39	13.3	39	13.3	17
Mount Ida Total		-	-	140	18.6	180	10.2	320	13.8	140
Combined Total		300	2.7	15,900	2.7	8,200	3.0	24,300	2.8	2,170

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Notes

1. Missouri, Sand King, Riverina, Waihi, Callion & Golden Eagle Mineral Resources have been updated in accordance with all relevant aspects of the JORC code 2012, and initially released to ASX on 15 December 2016 & 26 May 2020 (Missouri), 3 January 2017 & 26 May 2020 (Sand King), 2 December 2019 & 26 May 2020 (Riverina), 4 February 2020 (Waihi), 15 May 2020 & 29 June 2020 (Callion) & 8 April 2020 (Golden Eagle).

2. All Mineral Resources listed above, with the exception of the Missouri, Sand King, Riverina, Waihi, Callion & Golden Eagle Mineral Resources, were prepared previously and first disclosed under the JORC Code 2004 (refer Swan Gold Mining Limited prospectus released to ASX on 13 February 2013). These Mineral Resources have not been updated in accordance with JORC Code 2012 on the basis that the information has not materially changed since it was first reported.

3. Riverina, Waihi, Sand King, Missouri and Callion Open Pit Mineral Resource Estimates are reported within a A$2,400/oz pit shell above 0.5g/t. The Riverina, Waihi, Sand King, Missouri, Callion and Golden Eagle Underground Mineral Resource Estimates are reported from material outside a A$2,400 pit shell and above 2.0 g/t.

4. Values in the above table have been rounded.

Mining Reserve Table

PROJECT	PROVED	PROVED	PROBABLE	PROBABLE	TOTAL MATERIAL	TOTAL MATERIAL	TOTAL MATERIAL
	('000t)	(g/t Au)	('000t)	(g/t Au)	('000t)	(g/t Au)	('000oz.)
Sand King	-	-	1,300	2.6	1,300	2.6	110
Missouri	-	-	1,500	2.6	1,500	2.6	130
Riverina Open Pit	-	-	1,400	1.8	1,400	1.8	81
Golden Eagle	-	-	130	3.8	130	3.8	16
Waihi	-	-	1,500	2.3	1,500	2.3	110
Callion	-	-	240	2.6	240	2.6	21
TOTAL	-	-	6,100	2.4	6,100	2.4	460

Notes:

1. Values in the above table have been rounded.

2. Ore Reserve was estimated from practical mining envelopes and the application of modifying factors for mining dilution and ore loss.

3. For the open pit Ore Reserve dilution skins were applied to the undiluted LUC Mineral Resource estimate at zero grade. The in-pit global dilution is estimated to be 29% at Sand King, 43% at Missouri, 22% at Riverina, 13% at Waihi and 23% at Callion all of which were applied at zero grade. The lower dilution at Riverina, Waihi and Callion reflecting the softer lode boundary and allows for inherent dilution within the lode wireframe. All Inferred Mineral Resources were considered as waste at zero grade.

4. Open Pit Ore Reserve was estimated using incremental cut-off grades specific to location and weathering classification. They range from 0.54 g/t to 0.69 g/t Au and are based on a price of A$2,100 per ounce and include ore transport, processing, site overheads and selling costs and allow for process recovery specific to the location and domain and which range from 85% (Sand King fresh ore) to 95%.

5. Approximately 100,000t at 1.8 g/t at Riverina was downgraded from Proved to Probable due to uncertainty at the time surrounding metallurgical recovery. Subsequent test work estimated the Riverina recoveries to be 90.1%, 97.6% and 94.3% for oxide, transition and fresh, respectively.

6. Underground Ore Reserve was estimated from practical mining envelopes derived from expanded wireframes to allow for unplanned dilution. A miscellaneous unplanned dilution factor of 5% at zero grade was also included. The global dilution factor was estimated to be 32% with an average grade of 0.77 g/t Au.

7. Underground Ore Reserve was estimated using stoping cut-off of 2.7 g/t Au which allows for ore drive development, stoping and downstream costs such as ore haulage, processing, site overheads and selling costs. An incremental cut-off grade of 0.7 g/t Au was applied to ore drive development and considers downstream costs only. Cut-off grades were derived from a base price of A$2,100 per ounce and allow for an assumed process recovery of 92%. Subsequent test work estimated the Golden Eagle fresh recovery to be 90.6%.

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Rule 5.5

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Name of entity

Ora Banda Mining Limited ABN Quarter ended (“current quarter”) 69 100 038 266 30 June 2021

Consolidated statement of cash flows	Consolidated statement of cash flows	Current quarter	Year to date
		$A’000	(12 months)
			$A’000
1.	Cash flows from operating activities
1.1	Receipts from customers1	25,115	25,115
1.2	Payments for
	(a) exploration & evaluation (if expensed)	(1,920)	(5,833)
	(b) resource development (if expensed)	-	(358)
	(c) production	(25,852)	(25,852)
	(d) site costs	(1,541)	(3,517)
	(e) staff costs2	(606)	(2,495)
	(f) administration & corporate costs	(2,446)	(8,801)
1.3	Dividends received (see note 3)	-	-
1.4	Interest received	11	98
1.5	Interest & other costs of finance paid	-	-
1.6	Income taxes paid	-	-
1.7	Government grants & tax incentives	-	-
1.8	Other (provide details if material)3	530	1,704
	Net cash from / (used in) operating
1.9	activities	(6,709)	(19,930)

1. Excludes $7,160,000 of gold receipts capitalised prior to the declaration of commercial production

2. Staff costs are disclosed net of exploration & evaluation, resource development and site cost allocations

1. Current quarter includes GST overpayment made in error by the Australian Taxation Office

2.	Cash flows from investing activities	Cash flows from investing activities
2.1	Payments to acquire or for:
	(a)	entities	-	-
	(b)	tenements	-	-
	(c)	property, plant and equipment	(2,677)	(22,485)
	(d)	exploration & evaluation (if capitalised)	-	-

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

Page 24

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Consolidated statement of cash flows	Consolidated statement of cash flows	Consolidated statement of cash flows	Current quarter	Year to date
			$A’000	(12 months)
				$A’000
	(e)	resource development (if capitalised)4	(2,292)	(11,005)
	(f)	investments	-	-
	(g)	other non-current assets	-	(2,554)
2.2	Proceeds from the disposal of:
	(a)	entities	-	-
	(b)	tenements	-	-
	(c)	property, plant and equipment	-	-
	(d)	investments	-	-
	(e)	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)		-	-
	Net	cash from / (used in) investing
2.6	activities		(4,969)	(36,044)

4. Includes $7,160,000 of gold receipts capitalised prior to the declaration of commercial production

3.	Cash flows from financing activities
3.1	Proceeds from issues of equity securities
	(excluding convertible debt securities)	21,008	76,093
3.2	Proceeds from issue of convertible debt
	securities	-	-
3.3	Proceeds from exercise of options	-	1,976
3.4	Transaction costs related to issues of equity
	securities or convertible debt securities	(1,298)	(3,823)
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	Repayment of lease liabilities	(2,269)	(4,629)
3.10	Other (provide details if material)	-	-
3.11	Net cash from / (used in) financing activities	17,441	69,617

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

Page 2 5

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Consolidated statement of cash flows	Consolidated statement of cash flows	Current quarter	Year to date
		$A’000	(12 months)
			$A’000
4.	Net increase / (decrease) in cash and cash equivalents for the period	5,763	13,643
4.1	Cash and cash equivalents at beginning of
	period	18,457	10,577
4.2	Net cash from / (used in) operating
	activities (item 1.9 above)	(6,709)	(19,930)
4.3	Net cash from / (used in) investing activities
	(item 2.6 above)	(4,969)	(36,044)
4.4	Net cash from / (used in) financing activities
	(item 3.10 above)	17,441	69,617
4.5	Effect of movement in exchange rates on
	cash held	-	-
4.6	Cash and cash equivalents at end of period	24,220	24,220
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	24,220	18,457
5.2	Call deposits	-	-
5.3	Bank overdrafts	-	-
5.4	Other (provide details)	-	-
5.5	Cash and cash equivalents at end of
	quarter (should equal item 4.6 above)	24,220	18,457
6.	Payments to related parties of the entity and their		Current quarter
	associates		$A'000
6.1	Aggregate amount of payments to related parties and their
	associates included in item 1		212
6.2	Aggregate amount of payments to related parties and their
	associates included in item 2		-
Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an
explanation for, such payments.

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

Page 26

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

7.	Financing facilities Total facility	Amount drawn at
	Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. amount at quarter end $A’000	quarter end $A’000
7.1	Loan facilities -	-
7.2	Credit standby arrangements -	-
7.3	Other (please specify) -	-
7.4	Total financing facilities -	-
7.5	Unused financing facilities available at quarter end	-
7.6	Include in the box below a description of each facility above, including the lender, interest
	rate, maturity date and whether it is secured or unsecured. If any additional financing
	facilities have been entered into or are proposed to be entered into after quarter end,
	include a note providing details of those facilities as well.
	N/A

8.	Estimated cash available for future operating activities	$A’000	$A’000
8.1	Net cash from / (used in) operating activities (item 1.9)		(6,709)
8.2	(Payments for exploration & evaluation classified as investing
	activities) (item 2.1(d))		-
8.3	Total relevant outgoings (item 8.1 + item 8.2)		(6,709)
8.4	Cash and cash equivalents at quarter end (item 4.6)		24,220
8.5	Unused finance facilities available at quarter end (item 7.5)		-
8.6	Total available funding (item 8.4 + item 8.5)		24,220
8.7	Estimated quarters of funding available (item 8.6 divided by item 8.3)		3.61
	Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7		as “N/A”.
	Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7.
8.8	If item 8.7 is less than 2 quarters, please provide answers to the following questions:
	8.8.1 Does the entity expect that it will continue to have the current	level of net operating
	cash flows for the time being and, if not, why not?
	Answer: N/A
	8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise		further
	cash to fund its operations and, if so, what are those steps and how likely does it
	believe that they will be successful?
	Answer: N/A

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

Page 27

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

• 8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?

Answer: N/A

Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered.

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.

Date: 28 July 2021

...................................................................................

Authorised by:

By the Board

...................................................................................

(Name of body or officer authorising release – see note 4)

Notes

1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.

2. If this quarterly cash flow 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 cash flow 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. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [ name of board committee – eg Audit and Risk Committee ]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”.

5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations , the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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