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PERSEUS MINING LIMITED Interim / Quarterly Report 2005
46513_rns_2005-07-28_2c83eda6-5930-49ff-88c9-9e3ac5ceac0e.pdf
Interim / Quarterly Report
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JUNE 2005 OUARTERLY STOCK EXCHANGE REPORT
Highlights
- Significant insitu mineralisation discovered at Obdilla on the Tolubay project in the Kyrgyz Republic $\bullet$ including open trench intercepts of 70m $(a)$ 2.0g/t, 50m $(a)$ 2.6g/t and 24m $(a)$ 2.2g/t Au.
- Intercepts including 10m $(a)$ 14.3g/t and 8m $(a)$ 10.9g/t Au from trenching at Kobo North on the Kwatechi licence in Ghana.
- High gold recoveries from metallurgical testwork as part of the ongoing feasibility study on the Grumesa $\bullet$ project in Ghana.
Tolubay (Kyrgyz Republic)
Exploration at Tolubay during the June quarter has returned exciting results culminating in the identification of significant mineralisation at Obdilla and numerous other impressive targets along strike.
Systematic soil sampling was completed over the entire limestone-shale contact, resulting in the delineation of three principal auriferous trends totaling 7.3km in length, including the 2km Obdilla prospect and the newly discovered Dome gold anomaly.
The exceptionally strong Obdilla 2,000m by 200m gold in soil anomaly covers a prospective geological setting containing extensive alteration and sulphide mineralisation. Trenching at Obdilla has confirmed the existence of significant insitu mineralisation which included open ended intercepts of 70m $(a)$ 2.0g/t, 50m $(a)$ 2.6g/t and 24m $\langle \hat{a} \rangle$ 2.2g/t Au which included sub-intercepts of 32m $\langle \hat{a} \rangle$ 3.2g/t and 30m $\langle \hat{a} \rangle$ 3.1g/t Au.
Drill access preparation has commenced from both ends of Obdilla hill and drilling has commenced. ZDDH004 is currently at about 60m on its way to a target depth of at least 200m.
On the Tolubay licence the structural setting and style of mineralisation present are similar to that found on the Carlin Trend in Nevada.
Tengrela (Ivory Coast)
Further infill and extensional soil sampling on the Tengrela project during the quarter brings the total for 2005 to 1.547 samples. The better than expected results confirm the strong continuity of soil anomalies and have assisted in refining drill target selection. The planned, first pass drilling program has been increased to over 20,000m, with additional targets to be added as drilling progresses.
Drilling will commence on the 7km long Sissingue anomaly, which is situated 7.5km along strike from the neighboring Tabakoroni and Porphyry zones of Resolute – Etruscan and 40km along strike from the 6.5Moz Syama deposit. Eight additional soil anomalies are included in the Perseus's initial drill program.
Final customs clearance to allow Perseus's own drill rig to travel to the project is expected during the first week of August.
The political stability in the Ivory Coast has improved dramatically since the Pretoria Accord, mediated by the South African President, Thabo Mbeki, was signed in early April. On 15 April the rebel leaders joined the power-sharing Government ahead of the planned October 2005 elections.
Grumesa (Ghana)
During the June quarter, 38 mostly RC drill holes totaling 1,089m were completed to test the outer limits of the southern high grade zone at Kayeya. Results included 13m $\omega$ 1.8g/t, 6m $\omega$ 3.1g/t, 7m $\omega$ 2.4g/t, 29m $\omega$ 1.2g/t and 13m $\omega$ 1.5g/t Au. The reserve target area has again increased in size and final infill drilling is anticipated to take place during the September quarter.
Metallurgical test work undertaken in Australia returned high gold recoveries from gravity separation followed by conventional cyanide leaching as used at Anglogold Ashanti's oxide treatment plant in Sansu, Obuasi.
Discussions are continuing with Anglogold Ashanti in relation to the toll treatment procedure and processing costs for the Sansu plant.
| Calc. | Recovery | Consumption | |||||
|---|---|---|---|---|---|---|---|
| Sample | Grade Au g/t |
Gravity % |
16 hrs % |
24 hrs $\%$ |
Cyanide kg/t |
Lime kg/t |
|
| Oxide | OX01 | 2.17 | 33.7 | 97.5 | 98.6 | 0.45 | 0.85 |
| OX02 | 1.29 | 53.4 | 98.5 | 99.3 | 0.33 | 0.37 | |
| OX03 | 2.53 | 75.8 | 98.0 | 99.6 | 0.51 | 1.15 | |
| Average | 2.00 | 54.3 | 98.0 | 99.2 | 0.43 | 0.79 | |
| Transition | TR01 | 2.05 | 40.4 | 97.3 | 98.3 | 0.68 | 1.15 |
| TR02 | 2.51 | 65.0 | 95.3 | 95.9 | 0.37 | 0.33 | |
| TR03 | 2.76 | 73.0 | 98.6 | 99.1 | 0.60 | 0.65 | |
| Average | 2.44 | 59.5 | 97.1 | 97.7 | 0.55 | 0.71 | |
| Fresh | SU 01 | 1.67 | 38.9 | 89.7 | 96.1 | 0.36 | 0.27 |
| SU02 | 4.25 | 62.0 | 95.6 | 97.6 | 0.48 | 0.23 | |
| SU03 | 1.59 | 62.8 | 97.1 | 97.7 | 0.56 | 0.22 | |
| Average | 2.50 | 54.5 | 94.2 | 97.1 | 0.47 | 0.24 |
Summary of Metallurgical Test Results - Grumesa Project
Notes
1) Test work completed by AMMTEC in Perth Australia.
2) Recoveries rounded to one decimal place.
The Environmental Impact Statement for the mine-haul-custom mill operation, including the community consultation process, is currently being prepared.
A number of haulage and mining contractors have submitted initial prices and further discussions will take place during the September quarter.
Kwatechi (Ghana)
Trenching was recently undertaken at Kobo North to clarify the geology and geometry of significant mineralisation discovered in first pass drilling. Drilling on two traverses from March this year included open down hole intercepts of $12m \omega$ 2.2g/t and $10m \omega$ 2.3g/t (both from the same hole), 8m $\omega$ 2.3g/t and $12m \omega$ $1.7g/t$ Au.
Trenching was successful in defining gold mineralisation associated with quartz stringers in highly carbonated quartz chlorite schist of apparent wacke origin. Each of the trenches intercepted a core zone of high grade gold mineralisation including horizontal intercepts of 10m $\omega$ 14.3g/t, 8m $\omega$ 10.9g/t and 4m $\omega$ 7.5g/t Au.
The Kobo North target zone, lies at the northern end of a string of modest soil anomalies within a broadly anomalous zone 10,000m long and on average 700m wide that correlates with the contact zone between the Birimian and Tarkwaian lithologies of the Ashanti Belt. The trenches cover 200m strike of the 1.200m long relatively high grade Kobo North gold in soil anomaly. Recent infill soil sampling has highlighted the potential for parallel mineralisation, with the definition of multiple high gold in soil anomalies over a zone about 1.100m wide.
Exploration will now focus on extending the high grade mineralisation at Kobo North and testing the recently defined parallel anomalies. The high grade mineralisation at Kobo North has the potential to significantly enhance the life of the proposed trucking-custom milling operation currently under feasibility study on the Company's neighboring Grumesa licence.
Savoyardy (Kyrgyz Republic)
Perseus has commenced exploration on the Savoyardy project with soil sampling and adit inspections. Soil sampling has been completed and underground sampling is underway. Underground drilling is expected to commence later in the season after the adits have been prepared for drill rig access. The Company is currently seeking a man portable rig to undertake additional drilling from surface.
Mark Calderwood Managing Director
29 April 2005
The information in this report that relates to exploration results, is based on information compiled by Mr Mark Calderwood, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Calderwood is a full-time employee of the Company. Mr Calderwood 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 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Calderwood consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
$\overline{\mathbf{3}}$
| Trench | East | North | Length (m) |
Azm $(^\circ)$ |
Decl. (°) |
From (m) |
To (m) |
Intercept (m) |
Aц (g/t) |
|---|---|---|---|---|---|---|---|---|---|
| T 06 | 51727 | 447631 | 36 | 140 | 35 | $\overline{2}$ | 36 | $34*$ | 1.6 |
| incl. | 2 | 18 | 16 | 2.1 | |||||
| T 07 | 51763 | 447626 | 50 | 105 | 30 | $\pmb{0}$ | 70 | 70# | 2.0 |
| incl. | $\pmb{0}$ | 32 | $32*$ | 3.2 | |||||
| T14 | 51067 | 447472 | 12 | 190 | -10 | $\theta$ | 12 | 12# | 0.2 |
| T 16 | 50690 | 447379 | 5.5 | 180 | $\theta$ | $\pmb{0}$ | $\overline{2}$ | 2* | 0.8 |
| T 17 | 50695 | 447435 | 36 | 110 | 30 | $\theta$ | 36 | 36# | 1.4 |
| incl. | $\pmb{0}$ | 6 | 6* | 3.0 | |||||
| T 18 | 50850 | 447455 | 16 | 150 | 20 | 10 | 16 | 6* | 0.7 |
| T19 | 50971 | 447497 | 16.5 | 180 | 20 | $\pmb{0}$ | 16.5 | 16.5# | 0.5 |
| T 20 | 50702 | 447398 | 40 | 110 | 35 | $\theta$ | 30 | 30* | 0.8 |
| incl. | $\theta$ | 2 | 2* | 6.0 | |||||
| T 24 | 50772 | 447442 | 92 | 175 | 35 | $\overline{2}$ | 32 | 30 | 1.0 |
| 54 | 58 | 4 | 1.0 | ||||||
| 74 | 92 | 18* | 0.4 | ||||||
| T 25 | 51698 | 447632 | 8 | 115 | ? | $\theta$ | 8 | 8# | 1.9 |
| T 26 | 51884 | 447622 | 14 | 135 | 2 | $\theta$ | 14 | 14# | 1.2 |
| T27 | 51906 | 447656 | 82 | 145 | 2 | $\theta$ | 50 | 50* | 2.6 |
| Incl. | 20 | 50 | 30 | 3.1 | |||||
| T 2 8 | 51991 | 447688 | 24 | 180 | 2 | $\theta$ | 24 | 24# | 2.2 |
Trench intercepts Obdilla Prospect - Tolubay Project
* ended or commenced in mineralisation, # entire trench
Trench intercepts Kobo North - Kwatechi Project
| Trench | East | North | Length (m) |
Azm ${^{\circ}}$ |
From (m) |
To (m) |
Intercept (m) |
Αu (g/t) |
|---|---|---|---|---|---|---|---|---|
| KWAT01 | 78200 | 68015 | 70 | 90 | 6 | 30 | 24 | 6.5 |
| incl. | 14 | 24 | 10 | 14.3 | ||||
| 58 | 70 | $12*$ | 1.0 | |||||
| KWAT02 | 78400 | 68080 | 60 | 90. | 24 | 38 | 14 | 2.7 |
| incl. | 24 | 28 | 4 | 7.5 | ||||
| KWAT03 | 78200 | 68080 | 174 | 360 | 0 | 9 | 9* | 2.0 |
| 26 | 40 | 14 | 1.6 | |||||
| 28 | 34 | 6 | 3.1 | |||||
| 56 | 62 | 6 | 1.5 | |||||
| 86 | 90 | 4 | 1.3 | |||||
| 154 | 162 | 8 | 10.9 | |||||
| incl. | 156 | 160 | 4 | 20.9 |
* ended or commenced in mineralisation
Significant RC drill intercepts - Kwatechi Project
| Hole | East (m) |
North (m) |
Depth (m) |
Azm $^{\circ}$ |
Incl. $^{\circ}$ |
From (m) |
T 0 (m) |
Width (m) |
Aα g/t |
|---|---|---|---|---|---|---|---|---|---|
| KWRB175 | 63780 | 83000 | 33 | 90 | -60 | 14 | 16 | $\overline{2}$ | 3.0 |
| KWRB178 | 63720 | 83000 | 28 | 88 | -60 | $\boldsymbol{0}$ | $\overline{2}$ | $2*$ | 1.0 |
| KWRB181 | 68180 | 78400 | 28 | 269 | $-60$ | $\theta$ | $\overline{2}$ | $2*$ | 0.6 |
| 12 | 16 | 4 | 0.9 | ||||||
| 26 | $28\,$ | $\overline{2}$ | 2.4 | ||||||
| KWRB182 | 68160 | 78400 | 32 | 270 | $-60$ | 0 | 14 | $14*$ | 1.2 |
| incl. | 8 | 12 | 4 | 3.0 | |||||
| KWRB183 | 68140 | 78400 | 38 | 93 | $-60$ | $\theta$ | 16 | $16*$ | $0.8\,$ |
| incl. | 4 | 14 | 10 | 1.0 | |||||
| KWRB184 | 68120 | 78400 | 36 | 270 | $-60$ | $\boldsymbol{0}$ | 10 | $10*$ | 0.9 |
| KWRB185 | 68100 | 78400 | 37 | 268 | -60 | 14 | 16 | $\overline{2}$ | 0.8 |
| KWRB186 | 68100 | 78200 | 40 | 270 | -60 | 18 | 20 | 2 | 0.7 |
| KWRB187 | 68060 | 78200 | 46 | 269 | -60 | $\theta$ | $\boldsymbol{4}$ | $4*$ | 1.0 |
| 38 | 40 | $\overline{2}$ | 0.5 | ||||||
| KWRB188 | 68040 | 78200 | 46 | 268 | -60 | $\theta$ | $\overline{4}$ | 4* | 0.9 |
| 20 | 22 | 2 | 2.0 | ||||||
| KWRB189 | 68020 | 78200 | 51 | 268 | -60 | $\theta$ | 12 | $12*$ | 1.7 |
| incl. | $\pmb 0$ | 8 | $8*$ | 2.3 | |||||
| KWRB192 | 655475 | 643854 | 34 | 158 | -60 | $\overline{2}$ | 12 | 10 | 0.4 |
| 24 | 34 | $10*$ | 0.3 | ||||||
| KWRB193 | 655481 | 643845 | 34 | 150 | -60 | $\theta$ | 34 | 34# | 0.4 |
| incl. | 4 | 14 | 10 | $0.8\,$ | |||||
| KWRB194 | 655490 | 643832 | 27 | 150 | -60 | 16 | 22 | 6 | 0.3 |
* ended or commenced in mineralisation; # entire hole.
RC drill intercepts - Grumesa Project
| Hole | East | North | Depth | Azm | Incl. | From | To | Width | Au |
|---|---|---|---|---|---|---|---|---|---|
| (m) | (m) | (m) | (°) | $^{\circ}$ | (m) | (m) | (m) | g/t | |
| KRC148 | 89240 | 60360 | $28\,$ | 270 | -60 | 15 | 27 | 12 | 0.3 |
| KRC149 | 89240 | 60350 | 31 | 271 | $-60$ | 14 | 31 | $17*$ | 0.7 |
| incl. | 16 | 22 | 6 | 1.1 | |||||
| KRC150 | 89240 | 60330 | 35 | 270 | $-60$ | $\boldsymbol{2}$ | 35 | $33*$ | 1.2 |
| incl. | 5 | 18 | 13 | 1.8 | |||||
| and | 30 | 35 | $5*$ | 1.8 | |||||
| KRC151 | 89280 | 60390 | 16 | 270 | $-60$ incl. |
$\boldsymbol{0}$ 7 |
16 13 |
16# 6 |
1.4 3.1 |
| KRC152 | 89280 | 60380 | 13 | 270 | $-60$ | $\boldsymbol{0}$ | 13 | 13# | 0.4 |
| KRC153 | 89280 | 60370 | 18 | 271 | $-60$ | $\boldsymbol{0}$ | 15 | $15*$ | 0.5 |
| KRC154 | 89440 | 60520 | 33 | 269 | $-60$ | NSI | |||
| KRC155 | 89440 | 60500 | 31 | 271 | $-60$ | $\boldsymbol{0}$ | 31 | 31# | 0.7 |
| incl. | 13 | 17 | $\overline{4}$ | 1.8 | |||||
| KRC156 | 89440 | 60480 | 31 | 270 | $-60$ | $\theta$ | 10 | $10*$ | 0.5 |
| 21 | 31 | $10*$ | 0.3 | ||||||
| KRC157 | 89440 | 60460 | 31 | 270 | $-60$ | $\pmb{0}$ | 31 | 31# | 0.5 |
| incl. | 15 | 18 | $\mathfrak{Z}$ | 1.6 | |||||
| KRC158 | 89540 | 60337 | 28 | 90.5 | -60 | 8 | 22 | 14 | 1.0 |
| KRC159 | 89540 | 60357 | 32 | 90 | $-60$ | $\pmb{0}$ | 12 | $12*$ | 0.8 |
| KRC160 | 89560 | 60390 | 29 | 91.5 | -60 | $\pmb{0}$ | 18 | $18*$ | $0.8\,$ |
| incl. | 15 | 18 9 |
$\mathfrak{Z}$ $\bf 8$ |
1.6 | |||||
| KRC161 | 89560 | 60410 | 33 | 91 | $-60$ incl. |
$\mathbbm{1}$ 9 |
13 | 4 | 1.0 1.9 |
| KRC162 | 89560 | 60430 | 34 | 92 | $-60$ | $\boldsymbol{0}$ | 3 | $3*$ | 0.5 |
| 22 | 29 | 7 | 0.3 | ||||||
| KRC163 | 89560 | 60370 | 26 | 89 | -60 | $\mathbbm{1}$ | 14 | 14 | 0.6 |
| KRC164 | 89560 | 60350 | 27 | 90 | $-60$ | 11 | $20\,$ | 9 | 1.0 |
| incl. | 2 | 15 | 3 | 1.9 | |||||
| KRC165 | 89580 | 60371 | 28 | 90 | $-60$ | $\boldsymbol{7}$ | 19 | 12 | 0.9 |
| incl. | $\bf8$ | $14$ | 6 | 1.4 | |||||
| KRC166 | 89580 | 60390 | 34 | 90 | $-60$ | 3 | 26 | 23 | 1.4 |
| inel. and |
6 21 |
13 $24\,$ |
7 3 |
2.4 3.3 |
|||||
| KRC167 | 89580 | 60410 | 25 | 90 | -60 | $\theta$ | 25 | 25# | 0.6 |
| incl. | 10 | $20\,$ | 10 | $0.8\,$ | |||||
| KRC168 | 89580 | 60420 | 32 | 90 | $-60$ | $1-9$ | 8 | 8 | 2.0 |
| 30 | 32 | $2*$ | 1.0 | ||||||
| KRC169 | 89580 | 60430 | 35 | 89 | $-60$ | $\theta$ | 6 | $6*$ | 0.4 |
| 23 | 25 | $\overline{2}$ | 1.6 | ||||||
| KRC170 | 89620 | 60390 | 27 | 90 | -60 | 18 | 20 | $\bar{2}$ | 1.2 |
| KRC171 | 89620 | 60400 | 24 | 89 | -60 | 5 | $\overline{7}$ | $\overline{2}$ | 0.4 |
| 18 | $20\,$ | $\overline{2}$ | 0.6 | ||||||
| KRC172 | 89620 | 60410 | 29 | 90 | $-60$ | 14 22 |
20 29 |
6 7* |
$0.6\,$ 0.8 |
| KRC173 | 89620 | 60420 | 25 | 90 | $-60$ | 12 | 21 | 9 | 0.5 |
Cont.
RC drill intercepts - Grumesa Project (continued)
| Hole | East (m) |
North (m) |
Depth (m) |
Azm $^{\circ}$ |
Incl. $^{\circ}$ |
From (m) |
To (m) |
Width (m) |
Au g/t |
|---|---|---|---|---|---|---|---|---|---|
| KRC174 | 89620 | 60430 | 24 | 94 | -60 | 10 | 15 | 5. | 0.5 |
| KRC175 | 89600 | 60215 | 40 | 89 | -50 | $\mathbf{1}$ | 40 | 29* | 1.2 |
| incl. | 12 | 20 | 8 | 1.7 | |||||
| and | 33 | 39 | 6 | 1.5 | |||||
| KRC176 | 89600 | 60154 | 37 | 91 | -50 | 13 | 31 | 18 | 0.5 |
| inel. | 27 | 31 | 4 | 1.4 | |||||
| KRC177 | 89600 | 60069 | 32 | 89.5 | $-50$ | $\theta$ | 14 | $14*$ | 0.7 |
| incl. | 6 | 9 | 3 | 1.3 | |||||
| KRC178 | 89600 | 60053 | 31 | 89 | -50 | 15 | 31 | 16 | 0.4 |
| KRC179 | 89700 | 59990 | 30 | 90 | $-50$ | 15 | 24 | 9 | $0.6\,$ |
| KRC180 | 89700 | 60010 | 28 | 90 | $-50$ | 6 | 28 | $22*$ | 1.0 |
| incl. | 6 | 11 | 5 | 1.6 | |||||
| and | 26 | 28 | $2*$ | 1.8 | |||||
| KRC181 | 89700 | 60020 | 29 | 90 | -50 | $\mathbf{I}$ | 6 | 5 | 0.5 |
| 10 | $12 \,$ | $\overline{2}$ | 0.5 | ||||||
| 19 | 25 | 6 | 0.6 | ||||||
| KRC182 | 89676 | 60012 | 28 | 107 | -60 | $\overline{4}$ | 8 | 4 | $0.8\,$ |
| 25 | 28 | $3*$ | 2.8 | ||||||
| KRC183 | 89670 | 60026 | 27 | 108 | $-60$ | 0 | 27 | 27# | 1.0 |
| incl. | 14 | 27 | $13*$ | 1.5 | |||||
| KRC184 | 89662 | 60040 | 24 | 107 | -60 | $\boldsymbol{0}$ | $10\,$ | $10*$ | 0.5 |
| KRC185 | 89655 | 60053 | 24 | 109 | -60 | $\boldsymbol{0}$ | 3 | $3*$ | 0.9 |
* - ended or commenced in mineralisation;
$#$ - entire hole;
$NSI$ – no significant intercept.
Kwatechi Gold Project
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Appendix 5B
Mining exploration entity quarterly report
r
Name of entity
PERSEUS MINING LIMITED
ABN
27 106 808 986
Quarter ended ("current quarter")
30 June 2005
Consolidated statement of cash flows
| Cash flows related to operating activities | Current quarter \$A'000 |
Year to date $(12$ months) |
|
|---|---|---|---|
| 1.1 | Receipts from product sales and related debtors | \$A'000 | |
| 1.2 | (a) exploration and evaluation Payments for (b) development (c) production |
(290) | (847) |
| 1.3 1.4 |
(d) administration Dividends received Interest and other items of a similar nature |
(149) | (587) |
| 1.5 1.6 1.7 |
received Interest and other costs of finance paid Income taxes paid Other - (provide details if material) |
24 | 105 |
| Net Operating Cash Flows | (415) | (1,329) | |
| 1.8 | Cash flows related to investing activities Payment for purchase or renewal of: (a) prospects |
(10) | (23) |
| 1.9 | (b) equity investments (c) other fixed assets Proceeds from sale of: (a) prospects |
(4) | (348) |
| $1.10 -$ 1.11 |
(b) equity investments (c) other fixed assets Loans repaid to other entities Loans repaid by other entities |
(8) | (204) 108 |
| 1.12 | Other -Investment in Joint Venture entity | (20) | (20) |
| 1.13 | Net investing cash flows Total operating and investing cash flows (carried |
(42) | (487) |
| forward) | (457) | (1.816) |
| 1.13 | Total operating and investing cash flows (brought forward) |
(457) | (1, 816) |
|---|---|---|---|
| 1.14 1.15 1.16 1.17 1.18 |
Cash flows related to financing activities Proceeds from issues of shares, options, etc. Proceeds from sale of forfeited shares Proceeds from borrowings Repayment of borrowings Dividends paid |
3,717 | |
| 1.19 | Other – share issue expenses | (384) | |
| Net financing cash flows | 3,333 | ||
| Net increase (decrease) in cash held | (457) | 1,517 | |
| 1.20 1.21 |
Cash at beginning of quarter/year to date Exchange rate adjustments to item 1.20 |
2,359 14 |
403 (4) |
| 1.22 | Cash at end of quarter | 1,916 | 1.916 |
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 | 96 |
| -1.24 | Aggregate amount of loans to the parties included in item 1.10 | |
| at when a smooth constant of the contract of the contract of the constant of the contract of the contract of t |
1.25 Explanation necessary for an understanding of the transactions
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
$N/A$
$2.2$ Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest
$N/A$
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 | $\blacksquare$ | |
| 3.2 | Credit standby arrangements | $\overline{\phantom{a}}$ |
Estimated cash outflows for next quarter
| Total | 600 | |
|---|---|---|
| 4.2 | Development | - |
| 4.1 | Exploration and evaluation | 600 |
| \$A'000 |
Reconciliation of cash
| Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows. |
Current quarter \$A'000 |
Previous quarter \$A'000 |
|
|---|---|---|---|
| 5.1 | Cash on hand and at bank | 110 | 141 |
| 5.2 | Deposits at call | 1,806 | 2.218 |
| 5.3 | Bank overdraft | ||
| 5.4 | Other (provide details) | ||
| Total: cash at end of quarter (item 1.22) | 1,916 | 2,359 |
Changes in interests in mining tenements
| Tenement reference | Nature of interest | Interest at beginning of quarter |
Interest at end of quarter |
||
|---|---|---|---|---|---|
| -6.1 | Interests in mining tenements relinquished, reduced or lapsed |
None | |||
| -6.2 | Interests in mining tenements acquired or increased |
None |
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 | price Issue per security (cents) |
Amount paid up per security (cents) |
||
|---|---|---|---|---|---|
| 7.1 7.2 |
Preference + securities (description) Changes during |
||||
| quarter | |||||
| 7.3 | + Ordinary securities |
59,518,450 | 26,085,005 | ||
| $\frac{7.4}{7.5}$ | Changes during quarter |
٠ | $\overline{\phantom{0}}$ | ||
| + Convertible debt securities (description) |
|||||
| 7.6 | Changes during quarter |
۰ | $\blacksquare$ | ||
| 7.7 | Options (description and conversion factor) |
Exercise price | Expiry date | ||
| 22,782,500 | 13,042,500 | $20$ cents | 31/03/2009 | ||
| 7.8 | Issued during quarter |
||||
| 7.9 | Exercised during quarter |
$\overline{a}$ | |||
| 7.10 | Cancelled/Expired during quarter |
400,000 | $20$ cents | 31/03/2009 | |
| 7.11 | Debentures (totals only) |
||||
| 7.12 | Unsecured notes (totals only) |
Compliance statement
- This statement has been prepared under accounting policies, which comply with $\mathbf{1}$ accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4).
- $\overline{2}$ This statement gives a true and fair view of the matters disclosed.
Calledon
Sign here:
Date: 29 July 2005
Print name: Mark Calderwood Managing Director