PEEL MINING LIMITED — Interim / Quarterly Report 2018

Apr 30, 2018

+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, 01/05/13, 01/09/16

Name of entity
Peel Mining Limited
ABN	Quarter ended ("current quarter")
42 119 343 734	31 March 2018

	Consolidated statement of cash flows	Current quarter$A'000	Year to date(9 months)$A'000
1.	Cash flows from operating activities
1.1	Receipts from customers	-	-
1.2	Payments for
	(a)exploration & evaluation	(2,987)	(6,007)
	(b)development	-	-
	(c)production	-	-
	(d)staff costs	(141)	(329)
	(e)administration and corporate costs	(210)	(860)
1.3	Dividends received (see note 3)	-	-
1.4	Interest received	45	110
1.5	Interest and other costs of finance paid	-	-
1.6	Income taxes paid	-	-
1.7	Research and development refunds	-	-
1.8	Other – GST Received/(Paid)	(93)	(122)
1.9	Net cash from / (used in) operatingactivities	(3,386)	(7,208)

2.	Cash flows from investing activities
2.1	Payments to acquire:
	(a)property, plant and equipment	(90)	(246)
	(b)tenements (see item 10)	(40)	(90)
	(c)investments	-	-
	(d)other non-current assets	-	-

• See chapter 19 for defined terms

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	Consolidated statement of cash flows	Current quarter$A'000	Year to date(9 months)$A'000
2.2	Proceeds from the disposal of:
	(a)property, plant and equipment	0	20
	(b)tenements (see item 10)	564	1,175
	(c)investments	-	-
	(d)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)	-	-
2.6	Net cash from / (used in) investingactivities	434	859

3.	Cash flows from financing activities
3.1	Proceeds from issues of shares	-	6,000
3.2	Proceeds from issue of convertible notes	-	-
3.3	Proceeds from exercise of share options	38	219
3.4	Transaction costs related to issues ofshares, convertible notes or options	-	(199)
3.5	Proceeds from borrowings	-	-
3.6	Repayment of borrowings	-	-
3.7	Transaction costs related to loans andborrowings	-	-
3.8	Dividends paid	-	-
3.9	Other (provide details if material)	-	-
3.10	Net cash from / (used in) financingactivities	38	6,020

4.	Net increase / (decrease) in cash andcash equivalents for the period
4.1	Cash and cash equivalents at beginning ofperiod	8,492	5,907
4.2	Net cash from / (used in) operatingactivities (item 1.9 above)	(3,386)	(7,208)
4.3	Net cash from / (used in) investing activities(item 2.6 above)	434	859
4.4	Net cash from / (used in) financing activities(item 3.10 above)	38	6,020
4.5	Effect of movement in exchange rates oncash held	-	-
4.6	Cash and cash equivalents at end ofperiod	5,578	5,578

5.	Reconciliation of cash and cashequivalentsat the end of the quarter (as shown in theconsolidated statement of cash flows) to therelated items in the accounts	Current quarter$A'000	Previous quarter$A'000
5.1	Bank balances	1,078	792
5.2	Call deposits	4,500	7,700
5.3	Bank overdrafts	-	-
5.4	Other (provide details)	-	-
5.5	Cash and cash equivalents at end ofquarter (should equal item 4.6 above)	5,578	8,492

6.	Payments to directors of the entity and their associates	Current quarter$A'000
6.1	Aggregate amount of payments to these parties included in item 1.2	(37)
6.2	Aggregate amount of cash flow from loans to these parties includedin item 2.3	-

$A'000
-

6.3 Include below any explanation necessary to understand the transactions included in items 6.1 and 6.2

6.1 represents payments to directors for director's fees, superannuation, rental of office space and associated costs from Mr Hadfield (Peel Mining Limited's Chairman).

7.	Payments to related entities of the entity and theirassociates	Current quarter$A'000
7.1	Aggregate amount of payments to these parties included in item 1.2	Nil
7.2	Aggregate amount of cash flow from loans to these parties includedin item 2.3	Nil
7.3	Include below any explanation necessary to understand the transactions included initems 7.1 and 7.2

8.	Financingfacilities availableAdd notes as necessary for anunderstanding of the position	Total facility amountat quarter end$A'000	Amount drawn atquarter end$A'000
8.1	Loan facilities	-	-
8.2	Credit standby arrangements	-	-
8.3	Other (please specify)	-	-

8.4 Include below a description of each facility above, including the lender, interest rate and whether it is secured or unsecured. If any additional facilities have been entered into or are proposed to be entered into after quarter end, include details of those facilities as well.

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

9.	Estimated cash outflows for next quarter	$A'000
9.1	Exploration and evaluation	3,080
9.2	Development	-
9.3	Production	-
9.4	Staff costs	87
9.5	Administration and corporate costs	303
9.6	Other (Exploration & evaluation funded under farm-in)	36
9.7	Total estimated cash outflows	3,506

10.	Changes in tenements(items 2.1(b) and 2.2(b)above)	Tenementreference andlocation	Nature ofinterest	Interest atbeginningof quarter	Interestat end ofquarter
10.1	Interests in miningtenements and petroleumtenements lapsed,relinquished or reduced	2.2b – Cash receipts as part of Stage 2 of the JOGMEC farm-into the Cobar Superbasin Project.For all other changes to interests in mining tenements lapsed,relinquished, reduced, acquired or increased please see to page60 in the Quarterly Activities Report. During the quarter, Peelsuccessfully completed the spin-out of Saturn Metals Ltd. As aresult all related tenements now appear in the Saturn MetalsQuarterly Report – see ASX: STN for more info.
10.2	Interests in miningtenements and petroleumtenements acquired orincreased

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.

(Company secretary)

Print name: Ryan Woodhouse

Sign here: Date: 30/04/2018

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 that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.
• 1. If this quarterly 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 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.
• 1. 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.

+ See chapter 19 for defined terms

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