ORBMINCO LIMITED — Capital/Financing Update 2018

Feb 28, 2018

AusROC Metals Ltd

1 March 2018

Ausroc Metals Limited (ACN 073 155 781) (ASX:ARK) ASX Announcement

Updated pro-forma statement of financial position

Ausroc Metals Limited (ACN 073 155 781) ( Company ) refers to Section 12.4 (Historical and Pro-Forma Financial Information) of the Company’s Replacement Prospectus dated 8 January 2018 ( Prospectus ).

Capitalised terms not defined have the meaning set out in the Prospectus.

In light of Company raising a total of $4,086,320 under the General Offer and completing the Acquisitions, the Company advises that the updated pro-forma statement of financial position of the Company is as follows:

Combined Pro-Forma Statement of Financial Position

				ARK
	ARK	WEX		Consolidated
	31/12/17 Audited	31/12/17 Unaudited		Proforma
	Statement of	Statement of	General Offer	Position
	Financial	Financial	Subscription	At List.
	Position	Position
	$	$	$	$
CURRENT ASSETS
Cash and cash equivalents	3	6,700	4,086,320	4,093,023
Trade and other receivables	-	108,394	-	108,394
Other financial assets	-	-	-	0
TOTAL CURRENT ASSETS	3	115,094	4,086,320	4,201,417
NON-CURRENT ASSETS
Plant and equipment	-	-	-	0
Intangible assets - software	-	680	-	680
Exploration and evaluation expenditure (1)	-	429,198	500,000	929,198
TOTAL NON-CURRENT ASSETS	0	429,878	500,000	929,878
TOTAL ASSETS	3	544,972	4,586,320	5,131,295
CURRENT LIABILITIES
Trade and other payables	490,339	42,744	500,000	1,033,083
Share subscriptions received in advance	-	-	-	0
Borrowings (2)	1,633,466	-	-1,181,597	451,869

Provisions	-	-	-	0
TOTAL CURRENT LIABILITIES	2,123,805	42,744	-681,597	1,484,952
NON-CURRENT LIABILITIES
TOTAL NON-CURRENT LIABILITIES	-	-	-	0
TOTAL LIABILITIES	2,123,805	42,744	-681,597	1,484,952
NET ASSETS	-2,123,802	502,228	5,267,917	3,646,343
EQUITY
Issued Capital	59,838,056	1,025,150	5,267,917	66,131,123
Reserves	-	-	-	0
Options reserve	-	-	-	0
Accumulated losses	-61,961,858	-522,922	-	-62,484,780
TOTAL EQUITY (deficit)	-2,123,802	502,228	5,267,917	3,646,343

(1) Purchase of Volt Lithium Pty Ltd and Liquid Lithium Pty Ltd

(2) Conversion of Debt to Shares pursuant to the Deed of Company Arrangement

Jonathan Lindh Company Secretary Ausroc Metals Limited