Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

PREDICTIVE DISCOVERY LIMITED Interim / Quarterly Report 2019

Jul 30, 2019

65537_rns_2019-07-30_4a1e7c55-dc60-494c-9e3d-7de9764fa0f2.pdf

Interim / Quarterly Report

Open in viewer

Opens in your device viewer

31 July 2019

QUARTERLY ACTIVITIES REPORT FOR PERIOD ENDING 30 JUNE 2019

Predictive Discovery Limited ( “Predictive” or “Company” ) is pleased to provide an update on its activities in the June 2019 Quarter. The Company’s focus during the reporting period continued to be on advancement of its West African gold projects in Cote D’Ivoire, Guinea and Burkina Faso.

HIGHLIGHTS

Drilling program on the Toro Joint Venture in Cote D’Ivoire identified significant new zones of gold mineralisation on both the Ferkessedougou North and Boundiali Projects.

Ferkessedougou North (Cote D’Ivoire) – Diamond Drilling Results

  • A nine-hole diamond drilling (DD) program, totalling 1,059m, was completed at the Ouarigue South prospect within the Ferkessedougou North gold project (Toro JV).

  • Significant gold intersections included[1] :

  • FNDC001:

    • 45.3m at 3.2g/t gold from 45.9m including 9m at 10.3g/t gold ,

    • 10.9m at 1.94g/t gold from 95.7m, and

    • 4.7m at 6.14g/t gold from 134m

  • FNDC002 - 45.0m at 1.52g/t gold from 42.08m

  • FNDC004 - 16.5m at 2.43g/t gold from 24m including 4.5m at 5.50g/t gold intersected 50m south of granite mapped at surface

  • FNDC005:

    • 15m at 2.06g/t gold from surface,

    • 10.5m at 1.71g/t gold from 34.5m, and

    • 59.7m at 1.35g/t gold from 49.5m including 4.5m at 5.83g/t gold

Boundiali Project (Cote D’Ivoire) – RC Drilling Results

  • 11,427m of RC drilling was completed on the Boundiali Project, consisting of 6,229m of broad spaced reconnaissance drilling on Boundiali North and 5,198m of closer spaced infill drilling on

1 ASX Announcements - CONFIRMATION OF SIGNIFICANT NEW GOLD DISCOVERY AT FERKESSEDOUGOU NORTH, COTE D’IVOIRE https://www.investi.com.au/api/announcements/pdi/02e800f8-176.pdf

Boundiali South (Nyangboue prospect). Results received to date have revealed new gold mineralisation at several locations in Boundiali North and have confirmed the gold mineralised zone first intersected on broad-spaced lines in 2016.

  • Significant gold intersections reported to date include[2,3] :

  • Boundiali North (reconnaissance):

    • BNRC012 - 5m at 3.49g/t gold from 28m

    • BNRC015 - 8m at 1.80g/t gold from 35m

    • BNRC016 - 3m at 6.61g/t gold from 45m

    • BNRC031 - 30m at 1.08g/t gold from 32m

    • BNRC032 - 10m at 3.14g/t gold from 53m

    • BNRC032 - 32m at 1.46g/t gold from 80m

  • Boundiali South (Nyangboue prospect infill):

    • BRC 170 - 13m at 1.78g/t gold from 63m

    • BRC 171 - 14m at 1.30g/t gold from 9m

    • BRC 171 - 7m at 4.02g/t gold from 87m, including 1m at 10.3g/t gold

    • BRC 173 - 8m at 2.91g/t gold from 53m

    • BRC 173 - 4m at 5.50g/t gold from 67m, including 1m at 10.7g/t gold

    • BRC 175 - 27m at 2.42g/t gold from 27m, including 3m at 10.3g/t gold

    • BRC 179 - 4m at 4.96g/t gold from 32m, including 1m at 10.7g/t gold

    • BRC 181 - 3m at 9.69g/t gold from 137m

    • BRC 182 - 16m at 1.49g/t gold from 6m

    • BRC 183 - 9m at 2.86g/t gold from 68m, including 1m at 16.7g/t gold

    • BRC186 - 2m at 7.87g/t gold from 62m

    • BRC190 - 10m at 1.5g/t gold from 49m

    • BRC193 - 4m at 4.65g/t gold from 0m

    • BRC196 - 2m at 16.12g/t gold from 18m

2 ASX Announcements - NEW DRILL RESULTS STRENGTHEN BOUNDIALI PROJECT IN COTE D’IVOIRE https://www.investi.com.au/api/announcements/pdi/e0054bbf-ebc.pdf 3 ASX Announcements - RC AND TRENCH RESULTS GROW BOUNDIALI POTENTIAL IN COTE D’IVOIRE https://www.investi.com.au/api/announcements/pdi/015d9749-2be.pdf

Page 2 of 25

Kankan and Nonta Projects (Guinea) – Early Results

  • Bulk Leach Extractable Gold (BLEG) stream sediment sampling identified highly encouraging gold stream sediment anomalies over large catchment areas on Nonta and Kankan. Follow-up soil sampling on Kankan in the March Quarter then identified a 6km long gold-in-soil anomaly[4] .

  • Infill soil sampling in the June Quarter returned more encouraging results including definition of several new +100 ppb gold anomalies, each approximately 1km in length. The new sampling has also extended the gold-in-soil anomaly to more than 7km in length with a peak value of 570ppb gold[5] .

CORPORATE

  • Predictive remains well-funded with cash of $1.2 million at 30 June 2019 and no debt.

  • The Company undertook a heavily oversubscribed placement[6] with binding subscription agreements to raise $531,000 (before costs) in April 2019. The Placement was backed by a $350,000 cornerstone commitment by Capital Drilling Limited and supported by several Australian stockbroking firms and some current shareholders.

SEPTEMBER QUARTER 2019 – PLANNED ACTIVITY/RESULTS PENDING

  • RC drill results are pending from the Boundiali North reconnaissance program (35 holes totalling 2,416m) and the Boundiali South - Nyangboue prospect infill program – (16 holes totalling 1,874m).

  • Infill soil sampling aimed at identifying new Ouarigue South-style mineralised granite bodies within the known 17km long zone of gold-in-soil anomalies continued through into July. Results are expected in the September Quarter.

  • Exploration from the 100%-owned Guinea portfolio will continue through most of the September Quarter (rainy season) and results will be released progressively as they come to hand.

  • The Company continues to examine potential new ground acquisitions with a particular focus on the Siguiri Basin of Guinea.

4 ASX Announcements - EARLY RESULTS IMPRESS IN GUINEA https://www.investi.com.au/api/announcements/pdi/866985c4-568.pdf 5 ASX Announcements - KANKAN RESULTS EXTEND ZONE OF GOLD ANOMALIES TO OVER 7KM https://www.investi.com.au/api/announcements/pdi/57ee0674-e4d.pdf 6 ASX Announcements – PREDICTIVE SECURES SUPPORT OF CAPITAL DRILLING IN $531,000 PLACEMENT https://www.investi.com.au/api/announcements/pdi/2be739f4-236.pdf

Page 3 of 25

1. PREDICTIVE DISCOVERY WEST AFRICAN PROJECTS, APPLICATIONS & INTERESTS

With exposure to over 6,000km[2] of highly prospective ground on the West African Birimian greenstone belts of Guinea, Cote D’Ivoire and Burkina Faso, Predictive is focused on both 100%-owned gold projects in Guinea and Joint Venture projects in Cote D’Ivoire and Burkina Faso (Figure 1).

PDI’s business model has provided a pipeline of continuous and early stage exploration opportunities, partnering with experienced and respected companies to fund ongoing exploration and leveraging their expertise to realise shareholder value.

On some projects, where early results are highly promising, Predictive will undertake more advanced exploration, including drilling, in order to maximise value for its shareholders. The Company’s present intention is to advance to the drilling stage on one or more of its Guinea properties.

==> picture [517 x 379] intentionally omitted <==

Figure 1 – Predictive Discovery projects, applications and interests in Guinea, Cote d’Ivoire and Burkina Faso

Page 4 of 25

2. GUINEA – NONTA, KANKAN, BOROTO, KANINKO AND YOMADOU PROJECTS

The Company now has five 100%-owned Reconnaissance Authorisations in Guinea covering over 500km[2 ] of the Siguiri Basin within the Birimian gold belt. (Figure 2).

==> picture [505 x 392] intentionally omitted <==

Figure 2 - Locality Map of three new Reconnaissance Authorisations in Guinea, across the Siguiri Basin

EARLY RESULTS IMPRESS IN GUINEA

Predictive announced results from initial field work at Nonta and Kankan Projects on 9 April 2019[7] .

The Company sampled and assayed 50 rock chip and dump samples from artisanal mine sites and rock outcrops at Nonta with a peak value of 29g/t Au . A gold Bulk Leach Extractable Gold (BLEG) stream sediment sampling program (Figure 3) was completed, totalling 39 samples, with results peaking at 223ppb Au[7] , and exceeding 20ppb over two stream catchment areas covering a total area of 20km[2] .

7 ASX Announcements - EARLY RESULTS IMPRESS IN GUINEA https://www.investi.com.au/api/announcements/pdi/866985c4-568.pdf

Page 5 of 25

==> picture [444 x 340] intentionally omitted <==

Figure 3 - Nonta Project BLEG stream sediment sample results showing stream locations (blue), rock chip/dump sample locations and stream catchment areas with BLEG results exceeding 20ppb Au (red-dashed line).

The Company also completed a gold Bulk Leach Extractable Gold ( BLEG ) stream sediment sampling program (peaking at 87ppb Au) on Kankan, totalling 42 samples (Figure 4). An initial soil sampling program over part of the permit, totalling 269 samples, collected on an 800 x 100m[2] grid, was completed revealing a 6km long zone of gold-in-soil anomalies with a peak value of 570ppb Au[8] .

Details of procedures followed in the rock, soil and BLEG sampling programs are provided in PDI’s ASX release dated 9 April 2019[7] .

8 ASX Announcements - EARLY RESULTS IMPRESS IN GUINEA https://www.investi.com.au/api/announcements/pdi/866985c4-568.pdf

Page 6 of 25

==> picture [442 x 238] intentionally omitted <==

Figure 4 - Kankan Project BLEG stream sediment sample results with stream locations (blue), soil sample locations (brown points) and stream catchment areas with BLEG results exceeding 18ppb Au (red-dashed lines).

KANKAN GUINEA SOIL RESULTS EXTEND GOLD ANOMALIES TO OVER 7KM

Infill soil samples on a sample spacing of 400m x 50m were collected to infill plus 50ppb Au anomalous soil values from the initial survey. Extension sampling north of the initial grid was also carried out on a sample spacing of 800m x 100m. 306 soil samples were collected[9] . The samples were assayed at the SGS laboratory in Bamako, Mali.

The new results identified 4 multi-line plus-100ppb Au soil anomalies on the grid (Figure 5), each with an approximate strike length of 1km. Of these, the strongest anomaly is in the north-eastern part of the permit and is open to the west. The higher value anomalies appear to be generally parallel to recorded geological strike which suggest that they may reflect underlying mineralisation on lithological contacts, possibly including gold mineralised shear zones.

Details of procedures followed in the soil sampling program are provided in PDI’s ASX release dated 24 June 2019[9] .

9 ASX Announcements - KANKAN RESULTS EXTEND ZONE OF GOLD ANOMALIES TO OVER 7KM https://www.investi.com.au/api/announcements/pdi/57ee0674-e4d.pdf

Page 7 of 25

==> picture [441 x 308] intentionally omitted <==

Figure 5 - Kankan Project soil sampling results with wides zones of 20-50ppb gold anomalies (green), 50-100ppb gold anomalies (yellow) and +100ppb gold anomalies (red).

2019 SEPTEMBER QUARTER ACTIVITIES/NEWSFLOW (GUINEA)

  • Kaninko Reconnaissance Authorisation - acquisition was reported on 4 July 2019[10] .

An initial field inspection has been carried out and results of artisanal pit wall sampling are awaited,

  • Geochemical results pending - from soil sampling and/or BLEG stream geochemistry programs on the Boroto, Yomadou and Nonta Projects.

  • Nonta-Kankan Regolith Study - following a review of the initial assay results and field inspections of the gold-in-soil anomalies, the Company has recognised that the surface regolith is quite complex in both project areas, with a mixture of transported and residual materials, meaning that the use of soil results to identify potential drill targets requires careful interpretation.

In order to assist with the process of interpreting gold geochemical results, the team is improving its understanding of gold distribution in the soils, laterite and underlying weathered bedrock through regolith mapping, pitting beneath some gold-in-soil anomalies and wall sampling in some artisanal

10 ASX Announcement - LANDHOLDING GROWS IN GUINEA’S SIGUIRI BASIN https://www.investi.com.au/api/announcements/pdi/6f5f84dc-014.pdf

Page 8 of 25

workings. Once results of that work are received, the Company plans to resume infill soil sampling and/or power auger drilling to vector in on the best drill targets.

XRF analysis of soil samples, with a specific focus on Ti/Zr ratios, to help map underlying rock types, will also be undertaken during the Quarter.

  • Kankan and Nonta Geophysics - ground magnetics surveys aimed at to defining potentially mineralised shear zones beneath the anomalies are planned to commence in September or October.

3. COTE D’IVOIRE – BOUNDIALI, FERKESSEDOUGOU NORTH, KOUNAHIRI,

FERKESSEDOUGOU, BOBOSSO AND KOKOUMBO PROJECTS & INTERESTS

Predictive has a ground position of approximately 5000km[2] in Cote D’Ivoire. The country covers about one third of the world-class Birimian gold belt, more than any other country in West Africa. Cote D’Ivoire remains largely underexplored for gold due to past political instability which resulted in the exploration investment boom bypassing the country in the decade to 2011.

Predictive has a joint venture agreement with Toro Gold Limited. It also has three permit applications in Cote D’Ivoire in the name of its 100% subsidiary, Ivorian Resources SARL.

During the period, the Company announced significant results on the Boundiali, Boundiali North and Ferkessedougou North Projects, all of which form part of the Toro joint Venture (Figure 6).

==> picture [430 x 318] intentionally omitted <==

Figure 6 – Cote D’Ivoire Projects, Applications and Interests.

Page 9 of 25

CONFIRMATION OF SIGNIFICANT NEW GOLD DISCOVERY AT FERKESSEDOUGOU NORTH, COTE D’IVOIRE

A 1,059m diamond drilling program was completed in the June Quarter. It was designed to explore the shape and grade distribution of the Ouarigue South gold mineralised body (Figure 7), which was first encountered in reconnaissance RC drilling and trenching programs.

To date, a total of 7,107m of trenching, 80 RC holes (for 4,989m) and 9 DD holes (for 1,059m) have been completed on the Ferkessedougou North Project[11] .

The DD program was carried out by West African-based contractor Energold and the drill samples were analysed by fire assay at ALS, Loughrea in Ireland.

In order to meet the program’s objective, DD holes were drilled in several different directions to locate the granite margins and to determine the overall dip of the mineralised body. This indicated that the granite body dips steeply to the east and is split by panels of sheared, altered and partly gold mineralised metasedimentary rocks and (minor) mafic rocks (Figure 8).

The results show that nearly of the granite and most of the included sedimentary rocks contain anomalous gold values (>0.1g/t Au) with thick intervals containing grades ranging between 1 and 3.5g/t Au (Figure 8). Importantly the drilling also showed that:

  • Gold grades persist to depth in fresh altered granite,

  • The mineralised system also continues outside of the granite to the south, as shown by the intersection in hole FNDC004, 50m south of the southern granite contact as mapped in the earlier trenches ( 16.5m at 2.43g/t Au from 24m), and

  • DD grades appear to be higher overall than the initial shallow RC results at Ouarigue South, nearly all of which were obtained from vertical depths between 0 and 40m. This suggests that there may be some near-surface depletion and that deeper drilling is required along strike to effectively follow the economically interesting gold mineralisation e.g. south of and below FNDC004.

  • Gold values are associated with pyrite veining and possibly some quartz veins.

Details of the drilling methods and a complete list of drill assays are provided in the ASX release dated 4 June 2019[12] .

Better intercepts included the following:

Hole No. 0.25g/t Au cut-off 0.25g/t Au cut-off 0.25g/t Au cut-off Comments
Depth
from
Interval Au g/t
FNDC001 21.9 13.5 0.69

11 ASX Announcement - CONFIRMATION OF SIGNIFICANT NEW GOLD DISCOVERY AT FERKESSEDOUGOU NORTH, COTE D’IVOIRE https://www.investi.com.au/api/announcements/pdi/02e800f8-176.pdf 12 ASX Announcement - CONFIRMATION OF SIGNIFICANT NEW GOLD DISCOVERY AT FERKESSEDOUGOU NORTH, COTE D’IVOIRE https://www.investi.com.au/api/announcements/pdi/02e800f8-176.pdf

Page 10 of 25

FNDC001 45.9 45.3 3.16 Includes 9.2m at 10.31g/t Au
FNDC001 95.7 10.9 1.94
FNDC001 116 7.5 1.79
FNDC001 134 4.7 6.14
FNDC002 42.1 45.0 1.52 Includes 11.4m at 3.47g/t Au
FNDC004 24 16.5 2.43 Includes 4.5m at 5.50g/t Au
FNDC005 0 15.0 2.06
FNDC005 34.5 10.5 1.71
FNDC005 49.5 59.7 1.35 Includes 4.5m at 5.83g/t Au
FNDC006 0 12.6 1.43
FNDC006 36.7 11.7 0.85
FNDC007 0 10.5 2.27
FNDC007 22.5 12.0 2.15 Includes 4.5m at 5.13g/t Au
FNDC008 12 34.9 0.98
FNDC008 51.4 39.7 3.54 Includes 4.5m at 11.00g/t Au

==> picture [396 x 362] intentionally omitted <==

Figure 7 - Drill locality plan showing plan view locations of DD and RC gold drill intercepts.

Page 11 of 25

==> picture [389 x 337] intentionally omitted <==

Figure 8 - Ferkessedougou North drill cross section showing interpreted geology and results of DD holes FNDC001, 002, 008 and RC hole FNRC016.

Assays have been received from the last drill hole in the program – FNDC009 - with a best intercept of 6.5m at 0.64g/t Au. The hole was drilled to test for the NNE extension of a series of thin metasedimenthosted intercepts obtained in hole FNDC003 (e.g. 4.5m at 1.62g/t Au, 1.5m at 2.55g/t Au, 4.5m at 1.58g/t Au) 160m NNE of FNDC003 and 220m NNE of the mapped granite. More details about FNDC009 are provided in Table 1.

The results of this hole have little bearing on the overall prospectivity of the Ouarigue South prospect as the overall trend of the mapped and drilled granite appears to be approximately north-south (i.e. to the west of this hole), so FNDC009 may not have even tested the mineralisation’s possible depth extension along strike. As discussed above, better potential for along strike extensions to the Ouarigue South mineralised granite is below and south of the FNDC004 mineralised intercept.

NEW DRILL RESULTS STRENGTHEN BOUNDIALI PROJECT IN COTE D’IVOIRE

Highly encouraging first results were received from the Predictive/Toro Gold JV 31-hole (3,324m) infill Reverse Circulation (RC) drill program at the Nyangboue Prospect[13] , part of the Boundiali Project in

13 ASX Announcements - NEW DRILL RESULTS STRENGTHEN BOUNDIALI PROJECT IN COTE D’IVOIRE https://www.investi.com.au/api/announcements/pdi/e0054bbf-ebc.pdf

Page 12 of 25

northern Cote D’Ivoire. Numerous significant gold results returned with good widths and high grades. Multiple +1g/t old intercepts were recorded in every hole. Mineralisation remains open at depth (Figure 9). Better intercepts included:

Hl N
RL
(m)
0.50g/t Au cut-off
Depth

0.50g/t Au cut-off
Depth

0.50g/t Au cut-off
Depth

Ct
UTM
30N
UTM
30N
Hole
dth

Hole
di
Azimuth
oe o.
Easting

Northing
ep
(m)

p
(°)
(°)
from
(m)

Interval
(m)*

Au
(g/t)
ommens
BRC170 784760 1034941 420 84 -60 90 63 13 1.78 includes 1m at 7.34g/t Au
BRC171 784719 1034938 421 120 -60 90 9 14 1.30
BRC171 784719 1034938 421 120 -60 90 87 7 4.02 includes 1m at 10.33g/t Au
BRC173 784790 1035020 429 78 -60 90 14 10 1.18
BRC173 784790 1035020 429 78 -60 90 53 8 2.91 includes 1m at 7.20g/t Au
BRC173 784790 1035020 429 78 -60 90 67 4 5.50 includes 1m at 10.71g/t Au
BRC174 784750 1035020 429 126 -60 90 42 7 1.68
BRC174 784750 1035020 429 126 -60 90 85 5 3.07 includes 1m at 10.15g/t Au
BRC174 784750 1035020 429 126 -60 90 94 4 4.14
BRC175 784710 1035019 429 150 -60 90 27 27 2.42 includes 3m at 10.34g/t Au
BRC175 784710 1035019 429 150 -60 90 109 8 1.63
BRC177 784763 1035102 424 120 -60 90 74 8 1.69
BRC179 784820 1035181 412 69 -60 90 19 2 5.26
BRC179 784820 1035181 412 69 -60 90 32 4 4.96 includes 1m at 10.70g/t Au
BRC181 784740 1035181 412 154 -60 90 137 3 9.69
BRC182 784745 1034860 418 75 -60 90 6 16 1.49 includes 1m at 6.49g/t Au
BRC183 784705 1034860 418 100 -60 90 68 9 2.86 includes 1m at 16.72g/t Au

The drill program commenced in mid-March 2019 with a total of 31 RC holes (totalling 3,324m) on ten 80m-spaced traverses completed, covering 720m of strike length (Figure 9). The holes were drilled from west to east to test a shallow west-south-west dipping vein set which is known to contain visible gold). The holes were therefore drilled in the opposite direction to the initial RC drilling program which tested a steeply east-south-east dipping shear fabric. The RC holes were angled at -60° and drilled to a maximum downhole depth of 170m (vertical depth 145m).

Drilling was carried out by West African-based contractor Geodrill and the drill samples were assayed by bottle roll cyanidation at Bureau Veritas in Abidjan. Gold mineralised intercepts will be re-assayed later by fire assay at ALS, Loughrea in Ireland. The ASX release dated 27 May 2019[13] contains a complete record of the gold intercepts from those holes along with more details of the drilling and sampling methods.

Page 13 of 25

==> picture [385 x 303] intentionally omitted <==

Figure 9 - Drill plan with significant results from recently completed RC drilling within the Nyangboue gold mineralised zone.

==> picture [384 x 298] intentionally omitted <==

Figure 10 - Drill intersection from Nyangboue gold mineralised zone with mineralisation open at depth.

Page 14 of 25

2019 SEPTEMBER QUARTER ACTIVITIES/NEWSFLOW (COTE D’IVOIRE)

  • Ferkessedougou North - Detailed soil sampling (100m x 25m sample density) continued into July but has now stopped for the rainy season. Results from that sampling will be released progressively as it comes to hand.

This new program at Ferkessedougou North was designed to identify the same geochemical signatures as encountered above the Ouarigue South gold-mineralised granite body, which are expected to be quite small. On completion of the remainder of the soil program after the rainy season, the team will move on to a large-scale trenching program aimed at delineating multiple Ouarigue South-style mineralised granitic bodies within the gold-anomalous trend.

  • Boundiali contains multiple high priority targets in over 20km of gold geochemical anomalies, which are being systematically tested with trenching and drilling programs.

Trench and drill results covering 3,813m of reconnaissance RC drilling at Boundiali North, 1,612m of infill RC drilling at Boundiali South (Nyangboue Prospect) and 6,809m of trenching were announced on 15 July[14] . New gold mineralisation was discovered in several locations on Boundiali North. Best results included the following:

o Boundiali North RC (reconnaissance):

  • BNRC012 - 5m at 3.49g/t gold from 28m

  • BNRC015 - 8m at 1.80g/t gold from 35m

  • BNRC016 - 3m at 6.61g/t gold from 45m

  • BNRC031 - 30m at 1.08g/t gold from 32m

  • BNRC032 - 10m at 3.14g/t gold from 53m

  • BNRC032 - 32m at 1.46g/t gold from 80m

  • BRNC047 - 3m at 4.73g/t gold from 34m

o Boundiali North trenching:

  • BNTR003A - 14m at 1.01g/t within a 162m long section averaging 0.42g/t gold

  • BNTR004 - 2m at 5.09g/t gold within a 60m long section averaging 0.48g/t gold

  • BNTR005 - 14m at 1.80g/t gold within a 34m long section averaging 0.92g/t gold

  • BNTR007 - 24m at 2.29g/t gold within a 58m long section averaging 1.10g/t gold

  • BNTR008 - 10m at 2.24g/t gold within a 66m long section averaging 0.50g/t gold

o Boundiali South RC (infill):

14 ASX Announcements - RC AND TRENCH RESULTS GROW BOUNDIALI POTENTIAL IN COTE D’IVOIRE https://www.investi.com.au/api/announcements/pdi/015d9749-2be.pdf

Page 15 of 25

  • BRC186 - 2m at 7.87g/t gold from 62m

  • BRC190 - 10m at 1.5g/t gold from 49m

  • BRC191 - 2m at 5.18g/t gold from 2m

  • BRC193 - 4m at 4.65g/t gold from 0m

  • BRC196 - 2m at 16.12g/t gold from 18m

  • BRC197 - 2m at 5.36g/t gold from 64m

More assay results are pending from a further 35 RC holes at Boundiali North and 16 holes from Boundiali South (Nyangboue Prospect).

There are large areas of gold-anomalous soils which remain untested by drilling within the 14 km-long zone of soil anomalies at Boundiali North. Following the wet season, further drilling and/or trenching programs are expected to be announced on the Boundiali Project.

4. BURKINA FASO – BONGOU, BIRA, TAMBIRI, BOLLE AND KOURAKOU PROJECTS

Predictive entered into a joint venture with Progress Minerals International commencing on 30th September 2017 covering an Area of Influence (AOI) including nine exploration permits (Figure 11). The AOI includes the Bongou gold deposit discovered by Predictive in 2012 with a mineral resource estimate of 2.2Mt at 2.6g/t Au for a total of 184,000oz[15] .

The near surface mineralisation at Bongou is favourable for development of an open pit mining operation. The joint venture is targeting a very large gold resource inventory within the AOI, building on Predictive’s Bongou discovery, excellent RC drill results at Bira, and promising gold discoveries elsewhere (e.g. Dave and Tambiri prospects) with the ultimate aim of establishing a highly profitable gold mining operation.

No work was carried out the properties in Burkina Faso during the June 2019 quarter owing to security concerns in the north and east of the country.

The Laro permit was surrendered.

15 ASX Announcement - High-Grade Maiden Mineral Resource Estimate at Bongou, Burkina Faso https://www.investi.com.au/api/announcements/pdi/2bab5647-9ed.pdf

Page 16 of 25

==> picture [506 x 394] intentionally omitted <==

Figure 11 – Burkina Faso Projects and Interests.

2019 SEPTEMBER QUARTER PLANNED ACTIVITIES (BURKINA FASO)

  • No field work is planned during the rainy season (July-September).

  • Work has been suspended on the project area in the past six months owing to the security situation in the Bira area.

  • The joint venture partners continue to monitor the security situation with a view to recommencing work during the new field season, which commences in October 2019. A 20,000m partner-funded RC drill program is planned to test over 20 km of bedrock gold anomalies across the Bira trend (includes the Bira, Tambiri, Kalinga and Tantiabongou permits) within the Samira Hill greenstone belt.

Page 17 of 25

5. CORPORATE

Predictive remains well-funded with cash of $1.2 million and no debt at 30 June 2019

PREDICTIVE SECURES SUPPORT OF CAPITAL DRILLING IN $531,000 PLACEMENT

Predictive undertook a Placement during the June Quarter which was heavily oversubscribed. It was backed by a $350,000 cornerstone commitment by Capital Drilling Limited (Capital Drilling) and supported by several Australian stockbroking firms and some current shareholders[16] . The Company issued 59,000,000 ordinary fully paid shares in the Company at a price of 0.9c/share, the price at which Predictive shares closed before the Trading Halt on Friday 12 April.

Capital Drilling is a company listed on the London Stock Exchange and has a focus on drilling in Africa. The company commenced operations in 2005 and has a fleet of 91 rigs, offering a range of services across exploration drilling, delineation drilling, underground, grade control and blast hole drilling, as well as ancillary services including minerals laboratory testing.

Funds raised through this placement are being applied exclusively to exploration of Predictive’s new 100% owned exploration properties in Guinea, West Africa.

2019 JUNE QUARTER - ASX ANNOUNCEMENTS

This Quarterly Activities Report contains information extracted from ASX market announcements reported in accordance with the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (“2012 JORC Code”). Further details (including 2012 JORC Code reporting tables where applicable) of exploration results referred to in this Quarterly Activities Report can be found in the following announcements lodged on the ASX:

24/06/2019[Kankan Guinea Soil Results Extend Gold Anomalies to Over ] 7km 13/06/2019 West Africa Exploration and Strategy Update 04/06/2019[Confirmation of Significant Gold Discovery Ferkessedougou ] North 31/05/2019 Trading Halt 27/05/2019 New Drill Results Strengthen Boundiali Project Cote D'Ivoire 16/04/2019 $531,000 Placement Backed by Capital Drilling 09/04/2019 Early Results Impress in Guinea 22/03/2019 Diamond Drilling Underway at Ferkessedougou North

16 ASX Announcements - PREDICTIVE SECURES SUPPORT OF CAPITAL DRILLING IN $531,000 PLACEMENT https://www.investi.com.au/api/announcements/pdi/2be739f4-236.pdf

Page 18 of 25

These announcements are available for viewing on the Company’s website www.predictivediscovery.com under the Investors tab. Predictive confirms that it is not aware of any new information or data that materially affects the information included in any original ASX announcements apart from the addition of new drilling results on the Boundiali Project after 30 June 2019 as summarised in this report.

TABLE 1 – FERKESSEDOUGOU NORTH DIAMOND DRILL RESULTS – FNDC009

Hole No. UTM 30N
Easting
UTM
30N
Northing
RL
(m)
Hole
depth
(m)
Hole
dip
(°)
Azimuth
(°)
0.25g/t Au cut-off 0.25g/t Au cut-off 0.25g/t Au cut-off 0.50g/t Au cut-off 0.50g/t Au cut-off 0.50g/t Au cut-off
Depth
from
Interval
Au
g/t
Depth
from
Interval
Au
g/t
FNDC009 299328 1065861 289.5 122.2 -60 295 58 6.5 0.64 60 3 0.98
FNDC009 299328 1065861 289.5 122.2 -60 295 70.5 3 0.66 72 1.5 0.86
SECTION 1: SAMPLING TECHNIQUES AND DATA
Criteria JORC Code Explanation Commentary
Sampling Technique Nature and quality of sampling (eg cut channels,
random chips, or specific specialised industry
standard measurement tools appropriate to the
minerals under investigation, such as downhole
gamma sondes, or handheld XRF instruments, etc).
These examples should not be taken as limiting the
broad meaning of sampling Include reference to
measures taken to ensure sample representativity
and the appropriate calibration of any measurement
tools or systems used. Aspects of the determination
of mineralisation that are Material to the Public
Report.
I cases where ‘industry standard’ work has been
done this would be relatively simple (eg ‘reverse
circulation drilling was used to obtain 1 m samples
from which 3 kg was pulverised to produce a 30 g
charge for fire assay’). In other cases more
explanation may be required, such as where there is
coarse gold that has inherent sampling problems.
Unusual commodities or mineralisation types (eg
submarine nodules) may warrant disclosure of
detailed information.
All of the sampling described in Table 1
refers to diamond drill core.
Diamond drill core was cut in half and
submitted for crushing, pulverisation and
gold assay. The remaining half was retained
in the core trays.
The drill samples are judged to be
representative of the rock being drilled
because representative sub-sampling of both
the core was achieved.
Drilling Drill type (eg core, reverse circulation, open- hole
hammer, rotary air blast, auger, Bangka, sonic, etc)
and details (eg core diameter, triple or standard
tube, depth of diamond tails, face- sampling bit or
other type, whether core is oriented and if so, by
what method, etc).
DD: Diamond drilling produced NQ sized drill
core.

Page 19 of 25

Drill Sample Recovery Method of recording and assessing core and chip
sample recoveries and results assessed.
Measures taken to maximise sample recovery and
ensure representative nature of the samples.
Whether a relationship exists between sample
recovery and grade and whether sample bias may
have occurred due to preferential loss/gain of
fine/coarse material.
Diamond drill core recovery was measured
in the standard way. No relationship
between core recovery and grade has been
observed.
Logging Whether core and chip samples have been
geologically and geotechnical logged to a level of
detail to support appropriate Mineral Resource
estimation, mining studies and metallurgical
studies.
Whether logging is qualitative or quantitative
in nature. Core (or costean/Trench, channel,
etc) photography.
The total length and percentage of the relevant
intersections logged.
Logging of DD records lithology, mineralogy,
mineralisation, alteration, structure,
weathering and other features of the
samples. Logging of sulphide mineralization
and veining is quantitative. All holes were
logged in full.
No judgement has yet been made by
independent qualified consultants on
whether the geological and geotechnical
logging has been sufficient to support
Mineral Resource estimation, mining and
metallurgical studies.
Sub-Sampling
Technique and Sample
Preparation
If core, whether cut or sawn and whether quarter,
half or all core taken. If non-core, whether riffled,
tube sampled, rotary split, etc and whether
sampled wet or dry.
For all sample types, the nature, quality and
appropriateness of the sample preparation
technique.
Quality control procedures adopted for all sub-
sampling stages to maximise representivity of
samples.
Measures taken to ensure that the sampling is
representative of the in situ material collected,
including for instance results for field
duplicate/second-half sampling. Whether sample sizes
are appropriate to the grain size of the material being
sampled.

The core was cut in half longitudinally. Half
core samples were collected for assay, and
the remaining half core samples stored in
the core trays.
Core samples were submitted for assay in
1.5m intervals.
The sampled material is considered to be
representative of the core as a whole.

Page 20 of 25

Quality of Assay Data
and Laboratory Tests
The nature, quality and appropriateness of the
assaying and laboratory procedures used and
whether the technique is considered partial or
total.
For geophysical tools, spectrometers, handheld XRF
instruments, etc, the parameters used in
determining the analysis including instrument make
and model, reading times, calibrations factors
applied and their derivation, etc.
Nature of quality control procedures adopted (eg
standards, blanks, duplicates, external laboratory
checks) and whether acceptable levels of accuracy
(ie lack of bias) and precision have been established.
All samples were assayed for gold by 50g
fire assay at the ALS laboratory in Loughrea.
At the lab, regular assay repeats, lab
standards, checks and blanks were inserted
and analysed.
Unlabelled standards (Certified Reference
Materials) were also inserted.
Verification of
Sampling and
Assaying
The verification of significant intersections by
either independent or alternative company
personnel.
The use of twinned holes The verification of
significant intersections by either independent or
alternative company personnel. Discuss any
adjustment to assay data
No holes have yet been twinned.
Field data collection was undertaken by
Toro Gold geologists and supervised by Toro
Gold management.
Location of Data points Accuracy and quality of surveysused tolocate drill
holes (collar and down- hole surveys), trenches,
mine workings and other locations used in Mineral
Resource estimation.
Specification of the grid system used Quality and
adequacy of topographic control
Collar positions were accurately located
using located using DGPS.
Collar coordinates listed in the table are for
the WGS84 datum, Zone 30 North.
Data Spacing and
Distribution
Data spacing for reporting of Exploration Results
Whether the data spacing and distribution is
sufficient to establish the degree of geological and
grade continuity appropriate for the Mineral
Resource and Ore Reserve estimation procedure(s)
and classifications applied.
Whether sample compositing has been applied
The holes were drilled on variable
orientations designed to establish the shape
of the granite body at depth.
No judgement has yet been made by an
independent qualified consultant on
whether the drill density is sufficient to
calculate a Mineral Resource.
Diamond drill samples were not composited
Orientation of Data in
Relation to Geological
Structure
Whether the orientation of sampling achieves
unbiased sampling of possible structures and the
extent to which this is known, considering the
deposit type.
If the relationship between the drilling orientation
and the orientation of key mineralised structures is
considered to have introduced a sampling bias, this
should be assessed and reported if material.
The drill hole reported here were drilled to
test for possible orientations of the intrusive
granite body’s margins
Sample Security The measures taken to ensure sample security Samples are stored securely at Toro Gold’s
field office in Boundiali.
Audits or Reviews The results of any audits or reviews of sampling
techniques and data
No audits or reviews of sampling techniques
and data have been carried out given the
reconnaissance nature of this drill program.
SECTION 2: REPORTING OF EXPLORATION RESULTS

Page 21 of 25

Mineral Tenement and
Land Tenure Status
Type, reference name/number, location and
ownership including agreements or material issues
with third partiessuch asjoint ventures,
partnerships, overriding royalties, native title
interests, historical sites, wilderness or national park
and environmental settings.
The security of the tenure held at the time of
reporting along with any known impediments to
obtaining a licence to operate in the area.
The Ferkessedougou North exploration
permit was granted to GIV Minerals SARL in
2015. Predictive Discovery Cote D’Ivoire
SARL may earn a 51% interest by spending
US$1 million and 85% by completing a DFS.
Predictive Discovery Limited holds 30% of
Predictive Discovery Cote D’Ivoire SARL.
Exploration Done by
Other Parties
Acknowledgment and appraisal of exploration
by other parties.
Information about previous exploration
work has not been found.
Geology Deposit type, geological setting and style of
mineralisation.
The geology of the Ferkessedougou North
permit consists of foliated metasediments,
granite, granodiorite and lesser amounts
of probable mafic volcanics and mafic
intrusives.
Drill Hole Information A summary of all information material to the
understanding of the exploration results including a
tabulation of the following information for all
Material drill holes:

easting and northing of the drill hole collar

elevation or RL (Reduced Level – elevation
above sea level in metres) of the drill hole
collar

dip and azimuth of the hole

down hole length and interception depth

hole length

If the exclusion of this information is justified
on the basis that the information is not
Material and
this exclusion does not detract from the
understanding of the report, the Competent
Person should clearly explain why this is the
case.
All of the required data is provided in Table
1 (above).
Data Aggregation
Methods
In reporting Exploration Results, weighting
averaging techniques, maximum and/or minimum
grade truncations (e.g. cutting of high grades) and
cut-off grades are usually Material and should be
stated.
Where aggregate intercepts incorporate short
lengths of high-grade results and longer lengths of
low-grade results, the procedure used for such
aggregation should be stated and some typical
examples of such aggregations should be shown in
detail.
The assumptions used for any reporting of metal
equivalent values should be clearly stated.
All core was sampled in 1.5m intervals.
No top cuts have been applied to the drill
results.
Up to 3m (down-hole) of internal waste is
included.
Mineralised intervals are reported on a
weighted average basis.
Relationship Between
Mineralisation Widths
and Intercept Lengths
These relationships are particularly important in the
reporting of Exploration Results
If the geometry of the mineralisation with respect
to the drill hole angle is known, its nature should
be reported. If it is not known and only the down
hole lengths are reported, there should be a clear
statement to this effect (eg ‘down hole length, true
width not known’).
True widths are not estimated prior to
construction of a 3D interpretation of the
gold mineralised body.
Diagrams Appropriate maps and sections (with scales) and
tabulations of intercepts should be included for any
significant discovery being reported These should
include, but not be limited to a plan view of drill
hole collar locations and appropriate sectional
views.
An appropriate plan is included in the text of
this document.

Page 22 of 25

Balanced Reporting Where comprehensive reporting of all Exploration
Results is not practicable, representative reporting
of both low and high grades and/or widths should
be practiced to avoid misleading reporting of
Exploration Results.
All intercepts containing grades above
0.25g/t Au and with a grade x width above
1.0g*m are reported in this release.
Other Substantive
Exploration Data
Other exploration data, if meaningful and material,
should be reported including (but not limited to):
geological observations; geophysical survey results;
geochemical survey results; bulk samples – size and
method of treatment; metallurgical test results;
bulk density, groundwater, geotechnical and rock
characteristics; potential deleterious or
contaminating substances.
All relevant exploration data is either
reported in this release or has been
reported previously and is referred to in the
release.
Further Work The nature and scale of planned further work (eg
tests for lateral extensions or large scale step out
drilling.
Diagrams clearly highlighting the areas of possible
extensions, including the main geological
interpretations and future drilling areas, provided this
information is not commercially sensitive.
The immediate follow-up program will be
focused on discovering more Ouarigue
South-style deposits using detailed soil
sampling and trenching.

Competent Persons Statement

The exploration results reported herein, insofar as they relate to mineralisation are based on information compiled by Mr Paul Roberts (Fellow of the Australian Institute of Geoscientists). Mr Roberts is a fulltime employee of the company and has sufficient experience relevant to the style of mineralisation and type of deposits being considered to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Roberts consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

TENEMENT STATUS – JUNE QUARTER 2019

Name Number Location Area
(sq. km)
PDI equity Changes in holding
during June Quarter,
2019
Kalinga (formerly
Fouli)
Arrêté 2014-
294/MCE/SG/DGMGC
Burkina Faso 186 49% None
Tantiabongou Arrêté 2017-054
/MCE/SG/DGMGC
Burkina Faso 50 49% None
Tambifwanou
(formerly Sirba)
Arrêté 2017-
119/MCE/SG/DGMGC
Burkina Faso 136 49% None
Bongou (formerly
Madyabari)
Arrêté 2017-
121/MCE/SG/DGMGC
Burkina Faso 171 49% None
Tamfoagou Arrêté 2017-
132/MCE/SG/DGMGC
Burkina Faso 83 49% None

Page 23 of 25

Tangagari Arrêté 2013-37
/MCE/SG/DGMGC
Burkina Faso 94 Earning
46.5%;
current
equity 0%
(until final
cash
payment is
made)
Renewal in progress.
Tambiri (formerly
Bangaba)
Arrêté 2017-
120/MCE/SG/DGMGC
Burkina Faso 127 46.5% None
Bira Arrêté 2016-
129/MCE/SG/DGMGC
Burkina Faso 12 49% None
Basieri Arrêté 2017-
133/MCE/SG/DGMGC
Burkina Faso 73 49% None
Kokoumbo Mining exploration permit
No. 307
Cote D'Ivoire 300 Predictive CI
earning 90%.
PDI now
owns 30% of
Predictive CI.
None
Ferkessedougou
South
Mining exploration permit
No. 310
Cote D'Ivoire 290 30% None
Boundiali Mining exploration permit
No. 414
Cote D'Ivoire 299 30% None
Boundiali North Mining exploration permit –
number not allocated
Cote D'Ivoire 350 Predictive CI
earning 90%.
PDI now
owns 30% of
Predictive CI
None.
Kounahiri Mining exploration permit
No. 317
Cote D'Ivoire 260 30% None
Bassawa Mining exploration permit
No. 570
Cote D'Ivoire 400 0% (rights to
bonus
payments on
production)
None
Wendene Mining exploration permit
No. 572
Cote D'Ivoire 400 0% (rights to
bonus
payments on
production)
Dabakala Mining exploration permit
application
Cote D'Ivoire 400 0% (rights to
bonus
payments on
production)
Beriaboukro
(Toumodi)
Mining exploration permit
No. 464
Cote D'Ivoire 400 Predictive CI
can earn
85% in the
permit. PDI
currently
owns 35% of
Predictive CI.
None

Page 24 of 25

Ferkessedougou
North
Mining exploration permit
No. 367
Cote D'Ivoire 400 Predictive CI
can earn
85% in the
permit. PDI
currently
owns 35% of
Predictive CI.
None
Nonta Exploration Permit Guinea 100 Predictive
100%
None
Kankan Exploration Permit Guinea 100 Predictive
100%
None
Boroto Exploration Authorisation Guinea 100 Predictive
100%
Granted
Yomadou Exploration Authorisation Guinea 100 Predictive
100%
Granted
Kaninko Exploration Authorisation Guinea 100 Predictive
100%
Granted
Cape Clear EL 5434 Victoria,
Australia
63 25% None

- END -

For further information please contact:

Paul Roberts Managing Director Tel: +61 402 857 249 Email: [email protected]

Bruce Waddell

Company Secretary Tel: +61 8 6143 1840 Email: [email protected]

Page 25 of 25

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

+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

PREDICTIVE DISCOVERY LIMITED

ABN
11 127 171 877
Quarter ended (“current quarter”)
11 127 171 877 30 JUNE 2019
Consolidated statement of cash flows Current quarter
$A’000
Year to date (12
months)
$A’000
1.
Cash flows from operating activities
1.1
Receipts from customers
1.2
Payments for
(a) exploration & evaluation
(b) development
(c) production
(d) staff costs

(e) administration and corporate costs

1.3
Dividends received (see note 3)
1.4
Interest received
1.5
Interest and other costs of finance paid
1.6
Income taxes paid
1.7
Research and development refunds
1.8
Other (provide details if material)
1.9
Net cash from / (used in) operating
activities
-
(335)
(98)
3
-
-
(970)
(578)
17
-
(430) (1,531)
*The company’s accounting policy allocates staff costs to activities and are accordingly included in items 1.2
(a) and 1.2 (e)
2.
Cash flows from investing activities
2.1
Payments to acquire:
(a) property, plant and equipment
(b) tenements (see item 10)
(c) investments
- -
    • See chapter 19 for defined terms

1 September 2016

Page 1

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

Consolidated statement of cash flows Current quarter
$A’000
Year to date (12
months)
$A’000
(d) other non-current assets
2.2
Proceeds from the disposal of:
(a) property, plant and equipment
(b) tenements (see item 10)
(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) investing
activities
-
-
515
-
- 515
3.
Cash flows from financing activities
3.1
Proceeds from issues of shares
3.2
Proceeds from issue of convertible notes
3.3
Proceeds from exercise of share options
3.4
Transaction costs related to issues of
shares, convertible notes or options
3.5
Proceeds from borrowings
3.6
Repayment of borrowings
3.7
Transaction costs related to loans and
borrowings
3.8
Dividends paid
3.9
Other (provide details if material)
3.10
Net cash from / (used in) financing
activities
531
(14)
531
(14)
517
517 517
4.
Net increase / (decrease) in cash and
cash equivalents for the period
4.1
Cash and cash equivalents at beginning of
period
4.2
Net cash from / (used in) operating
activities (item 1.9 above)
4.3
Net cash from / (used in) investing activities
(item 2.6 above)
4.4
Net cash from / (used in) financing activities
(item 3.10 above)
4.5
Effect of movement in exchange rates on
cash held
4.6
Cash and cash equivalents at end of
period
1,098
(430)
-
517
-
1,684
(1,531)
515
517
-
1,185 1,185
  • See chapter 19 for defined terms 1 September 2016

Page 2

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

5.
Reconciliation of cash and cash
equivalents
at the end of the quarter (as shown in the
consolidated statement of cash flows) to the
related items in the accounts
Current quarter
$A’000
Previous quarter
$A’000
5.1
Bank balances
5.2
Call deposits
5.3
Bank overdrafts
5.4
Other (provide details)
5.5
Cash and cash equivalents at end of
quarter (should equal item 4.6 above)
685
500
598
500
1,185 1,098
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
76
6.2
Aggregate amount of cash flow from loans to these parties included
in item 2.3
-
6.3
Include below any explanation necessary to understand the transactions included in
items 6.1 and 6.2
Current quarter
$A'000
76
-
Fees paid to directors
7. Payments to related entities of the entity and their Current quarter
associates $A'000
7.1 Aggregate amount of payments to these parties included in item 1.2 -
7.2 Aggregate amount of cash flow from loans to these parties included -
in item 2.3
7.3 Include below any explanation necessary to understand the transactions included in
items 7.1 and 7.2
  • See chapter 19 for defined terms 1 September 2016

Page 3

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

8. Financing facilities available Total facility amount Amount drawn at
Add notes as necessary for an at quarter end quarter end
understanding of the position $A’000 $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.
9.
Estimated cash outflows for next quarter
$A’000
9.1
Exploration and evaluation
9.2
Development
9.3
Production
9.4
Staff costs
9.5
Administration and corporate costs
9.6
Other (provide details if material)
9.7
Total estimated cash outflows
210
200
410
10.
Changes in
tenements
(items 2.1(b) and
2.2(b) above)
Tenement reference
and location
Nature of interest Interest at
beginning
of quarter
Interest at
end of
quarter
10.1
Interests in mining
tenements and
petroleum tenements
lapsed, relinquished
or reduced
Laro
Exploration
Permit, Burkina Faso
Moribala
Exploration
Authorisation, Mali
Soulouko
Exploration
Authorisation, Guinea
Surrendered
Surrendered
Surrendered
100%
100%
100%
0%
0%
0%
10.2
Interests in mining
tenements and
petroleum tenements
acquired or
increased
Kaninko
exploration
authorisation
(EA),
Guinea
100% ownership 0% 100%
  • See chapter 19 for defined terms 1 September 2016

Page 4

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

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.

==> picture [135 x 32] intentionally omitted <==

Sign here: Date: 31 July 2019

(Company secretary)

Print name: Bruce Waddell

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.

  2. 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.

  3. 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.

  4. See chapter 19 for defined terms 1 September 2016

Page 5