PEEL MINING LIMITED — Interim / Quarterly Report 2014

Jul 29, 2014

Appendix 5B Mining exploration entity quarterly report

Rule 5.3

Appendix 5B

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10.

Name of entity

	Name of entity
	Peel Mining Limited
	ABN 42 119 343 734 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 – Farm-in Agreement Funds Net Operating Cash Flows		Current Quarter $A’000		Year End (12.months) $A’000
		- (575) - - (256) - 32 - - -		- (4,799) - - (947) - 180 - - 3,330
		(799)		(2,236)
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)		- - (21) - - - - - -		- - (1,014) - - - - - -
		(21)		(1,014)
		(820)		(3,250)

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1.13 Total operating and investing cash flows (brought forward)	(820)	(3,250)
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 – Costs of issue of shares Net financing cash flows	- - - - - -	- - - - - -
	-	-
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end ofquarter	(820) 3,935 -	(3,250) 6,365 -
	3,115	3,115

Payments to directors of the entity and associates of the directors Payments to 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
		(42)
		Nil
1.25 Explanation necessaryfor an understandingof the transactions 1.23 represents payments to directors for director’s fees, superannuation and rental of office space. 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 reportingentityhas an interest Peel Mining Limited executed a farm-in agreement with CBH Resources Limited (farm-in now completed) pursuant to which CBH earned a 50% interest in Peel’s Mallee Bull Project. In the previous quarter CBH completed their $3,330,000 obligation under the agreement to earn an additional and final 20% of the project.	Explanation necessaryfor an understandingof the transactions
	1.23 represents payments to directors for director’s fees, superannuation and rental of office space.
	Nil
	Details of outlays made by other entities to establish or increase their share in projects in which the reportingentityhas an interest
	Peel Mining Limited executed a farm-in agreement with CBH Resources Limited (farm-in now completed) pursuant to which CBH earned a 50% interest in Peel’s Mallee Bull Project. In the previous quarter CBH completed their $3,330,000 obligation under the agreement to earn an additional and final 20% of the project.

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Appendix 5B Mining exploration entity quarterly report

Financing facilities available

Add notes as necessary for an understanding of the position.

3.1 Loan facilities 3.2 Credit standby arrangements

	Amount available	Amount used
	$A’000	$A’000
	Nil	Nil
	Nil	Nil

Estimated cash outflows for next quarter

Estimated cash outflows for next quarter
4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration	$A’000
	735
	-
	-
	256
Total	991

Reconciliation of cash

Reconciliation of cash at the end of the quarter (as Current quarter Previous quarter shown in the consolidated statement of cash flows) $A’000 $A’000 to the related items in the accounts is as follows. 5.1 Cash on hand and at bank 15 385 Deposits at call 3,100 3,550 Bank overdraft - - Other (Farm-in Agreement funds) - - Total: cash at end of quarter (item 1.22) 3,115 3,935

Changes in interests in mining tenements

(Refer to Annexure of Quarterly Activity Statement)

6.1 Interests in mining tenements relinquished, reduced or lapsed	Tenement reference	Nature of interest (note (2))	Interest at beginning of quarter	Interest at end of quarter
	E70/4252 E39/1644	Relinquished Relinquished	100% 100%	0% 0%

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6.2 Interests in mining tenements acquired or increased	EL8247	Granted	0%	100%

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 note 3) (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	132,085,969	132,085,969
7.5 +Convertible debt securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured,converted
7.7 Options (description and conversion factor) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	400,000 1,000,000 1,500,000 320,000	Nil Nil Nil Nil	Exercise Price $0.08 $0.50 $0.50 $0.50	Expiry Date 31/07/2014 28/11/2015 28/11/2015 30/06/2015
	Nil	Nil
	Nil	Nil
	Nil	Nil
7.11 Debentures (totals only)
7.12 Unsecured notes (totals only)

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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 4).

• 2 This statement does give a true and fair view of the matters disclosed.

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Sign here:

Date: 30 July 2014

(Company secretary)

Print name: David Lim

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 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.

• 5 Accounting Standards ASX will accept, for example, the use of International Accounting 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.

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