PACIFIC RESOURCES LIMITED — Interim / Quarterly Report 2016

Apr 26, 2016

Appendix 5B

Rule 5.3

Mining 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

Name of entity

COALBANK LIMITED

Current quarter $A'000

20 075 877 075 31 March 2016

ABN Quarter ended ("current quarter")

Year to date (6 months)

Consolidated statement of cash flows

Cash flows related to operating activities

			$A'000
1.1	Receipts from product sales and related debtors	-	-
1.2	Payments for(a) exploration & evaluation(b) development	(8)-	(77)-
	(c) production	-	-
	(d) administration & GST	(148)	(575)
1.3	Dividends received	-	-
1.4	Interest and other items of a similar naturereceived	-	-
1.5	Interest and other costs of finance paid	-	-
1.6	Income taxes paid	-	-
1.7	Other (provide details if material)
	BAS refunds received from the ATO	16	45
	Net Operating Cash Flows	(140)	(607)
	Cash flows related to investing activities
1.8	Payment for purchases of:
	(a) prospects	-	-
	(b) equity investments	-	-
	(c) other fixed assets	-	-
	(d) deposits	-	-
1.9	Proceeds from sale of:(a) prospects	-	-
	(b) Refund of deposits	8	8
	(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	8	8
1.13	Total operating and investing cash flows
	(carried forward)	(132)	(599)

+ See chapter 19 for defined terms.

1.13	Total operating and investing cash flows(brought forward)	(132)	(599)
	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	100	400
1.17	Repayment of borrowings	-	-
1.18	Dividends paid	-	-
1.19	Other (provide details if material)
	Payment for company transaction	-	-
	Share issue expenses	-	-
	Net financing cash flows	100	400
	Net increase (decrease) in cash held	(32)	(199)
1.20	Cash at beginning of quarter/year to date	66	233
1.21	Exchange rate adjustments to item 1.20	-	-
1.22	Cash at end of quarter	34	34

The company continues to seek funding either through shareholder loans or equity placements. Since the end of the quarter, Coalbank Limited has received $100,000 as unsecured shareholder loan bearing no interest.

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

		Current quarter$A'000
1.23	Aggregate amount of payments to the parties included in item 1.2	-
1.24	Aggregate amount of loans to the parties included in item 1.10	-

1.25 Explanation necessary for an understanding of the transactions No fees were paid to Directors during the quarter

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

Nil

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

Nil

+ See chapter 19 for defined terms.

Financing facilities available

Add notes as necessary for an understanding of the position.

		Amount available$A'000	Amount used$A'000
3.1	Loan facilities	Nil	Nil
3.2	Credit standby arrangements	Nil	Nil

Estimated cash outflows for next quarter

	Total	200
4.4	Administration	150
4.3	Production	-
4.2	Development	-
4.1	Exploration and evaluation	50
		$A'000

** The company continues to seek funding either through shareholder loans or equity placements.

Reconciliation of cash

Reconciliation of cash at the end of the quarter (asshown in the consolidated statement of cash flows) tothe related items in the accounts is as follows.		Current quarter$A'000	Previous quarter$A'000
5.1	Cash on hand and at bank	6	11
5.2	Deposits at call	28	55
5.3	Bank overdraft	-	-
5.4	Other (provide details)	-	-
	Total: cash at end of quarter (item 1.22)	34	66

Changes in interests in mining tenements

		Tenementreference	Nature of interest(note (2))	Interest atbeginning ofquarter	Interest atend ofquarter
6.1	Interests in miningtenements relinquished,reduced or lapsedInterests in miningtenements acquired orincreased	Nil
6.2		Nil

+ See chapter 19 for defined terms.

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	Numberquoted	Issue price persecurity (see note	Amount paid up persecurity (see note 3)
				3) (cents)	(cents)
7.1	Preference	N/A
	+securities
	(description)
7.2	Changes during
	quarter
	(a) Increases through
	issues(b) Decreases
	through returns of
	capital, buy-backs,
	redemptions
7.3	+Ordinary securities	982,051,715	982,051,715	Fully paid	Fully paid
7.4	Changes during
	quarter
	(a) Increases through
	issues
	(b) Decreases
	through returns of
	capital, buy-backs
7.5	+Convertible debt	1	-	$2,000,000	N/A
	securities
	(description)
7.6	Changes during
	quarter
	(a) Increases through
	issues
	(b) Decreases
	through securities
	matured, converted
7.7	Options (description			Exercise price	Expiry date
	and conversion	-	-	-	-
	factor)
7.87.9	Issued during quarterExercised during
	quarter
7.10	Expired during
	quarter

+ See chapter 19 for defined terms.

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.

(Company secretary)

Sign here: Date: 27 April 2016

Print name: Leni Stanley

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 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, 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.