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RAREX LIMITED Interim / Quarterly Report 2018
65681_rns_2018-04-29_99822801-44c1-4980-9a38-0cf01073600b.pdf
Interim / Quarterly Report
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Clancy Exploration Limited Suite 23, 513 Hay Street Subiaco WA 6008 Australia
Phone:(08) 6143 6720
www.clancyexploration.com [email protected]
1
ASX / MEDIA ANNOUNCEMENT 30 April 2018
QUARTERLY ACTIVITIES AND CASHFLOW REPORTS FOR QUARTER ENDED 31 MARCH 2018
HIGHLIGHTS
- Clancy signs deal to acquire up to 100% of key cobalt licences immediately adjacent to the world famous Bou Azzer (also referred to as Bou Azzar) Cobalt mine in Morocco.
- The Bou Azzer Cobalt Mine is famous for being a primary cobalt producer and high-quality cobalt cathode and has been in operation since the 1930's.
- Initial field reconnaissance has identified multiple copper mineralised outcrops, interpreted to be evidence of potential underlying cobalt mineralised structures.
- Presence of extensive copper mineralisation at surface highlights the considerable prospectivity of the Moroccan Licences.
- Follow up detailed reconnaissance mapping and geochemical sampling programs is currently underway in order to define the extent of mineralisation.
- Review of geological setting of the globally significant Bou Azzer Cobalt Mine, located adjacent, is underway in order to understand the potential of hosting similar styles of mineralisation within Clancy's extensive tenure.
- Phase 1 exploration program underway at Hong Kong Gold Project, Western Australia
David Lenigas, Clancy Exploration's Chairman, commented, "We now have a number of very exciting projects within Clancy today, and we have geologists working hard on both of our key projects in Morocco and Western Australia. Indeed, we have highly experienced independent geological consultants on the ground in Morocco today and I am also personally in Morocco today to assess the potential of this deal for Clancy shareholders."
COBALT PROJECT, MOROCCO
Subsequent to the end of the quarter, the Company announced the signing of an agreement by which it will acquire, subject to shareholder and regulatory approvals and completion of a 60 day due diligence period to the satisfaction of Clancy, up to a 100% interest in 3 licences in Morocco through a staged acquisition of Atlas Managem S.A.R.L. (Acquisition). For full details of the Acquisition see the Company's ASX announcement dated 10 April 2018.
Each of the licences is 16 km2 in size, two of which (the Bou Amzil and Tizi Belhaj licences) are located immediately to the west and adjacent to the famous Bou Azzer Cobalt Mine. The third licence (the Imeder licence) is located approximately 20 km northwest of Bou Azzer.
Figure 1: Location of the 3 licences to be acquired in Morocco with recent sampling locations marked.
The adjacent Bou Azzer in Morocco has Co-Ni Arsenide deposits with Au & Ag and is currently one of the world's only operating primary cobalt mines with:
- More than 50 deposits in the district, mined over 75 years with production of over 100kt of cobalt, 1,000's of tonnes of silver and tens of tonnes of gold;
- Current production of ~2ktpa of cobalt at an estimated head grade of 1.3% cobalt and up to ~3-4 g/t gold, total current resources and reserves of 17,800 tonnes of cobalt.1
Information on the Bou Azzer Cobalt mine is available on Managem's website at www.managemgroup.com.
Figure 2: The Bou Azzer Cobalt Mine taken from the Bou Amzil Licence looking east.
1 ASX news release by Blackstone Minerals dated 27 March 2018 – Investor Presentation – Goldman Sachs Battery Day
Initial Field Work Program Overview:
An initial field work program is underway aimed at providing an understanding of the logistics in terms of conducting field-based exploration programs across each site and identifying the significance of outcropping and subsurface mineralisation and its continuation to the depth of the basement rocks that contain Serpentine, the main cobalt host rocks.
Identified outcrops contain Malachite/Azurite (Copper Carbonates) and Chalcopyrite (Copper Sulphide) mineralisation at surface. In the adjacent Bou Azzer mine area, the cobalt mineralised structures being mined are expressed at surface as copper-rich zones, such as have been identified and sampled in the Clancy reconnaissance trip.
Where evident, mineralised outcrops were photographed, geologically described and six grab samples were collected from historical trenches (four samples from Tizi Belhaj trenches, one sample from Bou Amzil trench and one from a trench at Imeder). The trenches averaging 2m in depth. The sample from Imeder was collected from an outcropping vein.
All six rock-chip samples were submitted for SGS laboratory in Spain for geochemical analysis. The results of the laboratory analysis are expected at around 30 May 2018.
Figure 3: Bou Amzil - Sub-Surface Sample - Chalcopyrite & Malachite Mineralisation (691,646mE, 3,381,877mN)
Figure 4: Tizi Belhaj - Malachite Mineralisation from Historical Trench at 2m depth (684,303mE, 3,382,069mN)
Figure 5: Tizi Belhaj - Malachite Mineralisation from Historical Trench at 2m Depth (684,303mE, 3,382,069mN)
Figure 6: Tizi Belhaj - Crystal Malachite Mineralisation from Historical Trench at 2m Depth (684,303mE, 3,382,069mN)
Figure 7: Tizi Belhaj - Malachite & Chrysocolla oxide copper mineralisation from gossan within historical trench at <2m depth (684,303mE, 3,382,069mN)
Figure 8: Imeder - Copper Mineralisation from Historical Trench <2m depth (679,490mE, 3,406,796mN)
Figure 9: Imeder – In situ Surficial Copper Oxide Mineralisation (679,982mE, 3,406,576mN)
Cobalt Market Commentary
Cobalt contributes up to 60% of the value of lithium ion batteries which in turn accounts for greater than 50% of demand for cobalt. The lithium ion battery is projected to become the world's most significant source of power with the use in electric vehicles ("EV") being the key driver. Bloomberg forecasts 35% of vehicles sold by 2040 will be electric, currently only 1% of global sales are EVs. Consequently, cobalt demand is expected to rise at 5% compound annual growth rate ("CAGR") over the next 4 years. Cobalt's other main use at 20% is in superalloys which complements the battery demand as high-tech industry grows.
Cobalt is expected to have a supply deficit as currently mining is only just meeting demand. The cobalt price has risen significantly from US$10/lb (US$22,000/t) to US$41.36/lb (US$91,000/t) over the past 2 years. Current prices are still well short of the 2008 high of US$52/lb (US$115,000/t) which was the last time cobalt was in deficit.
Approximately 98% of the world's supply of cobalt comes from copper and nickel production with 15 mines representing half of the world's supply. This makes the supply stream for cobalt highly sensitive to disruptions caused by mine related issues. Currently more than 50% of the world's supply of cobalt is a by-product of copper production from the Democratic Republic of Congo.2
2 ASX news release by Blackstone Minerals date 9 January 2018 – First hole intersects 3.0% Cobalt and 44 g/t Gold at Little Gem
HONG KONG GOLD PROJECT, PILBARA REGION, WESTERN AUSTRALIA
In December 2017, Clancy Exploration Limited (Clancy or the Company) acquired 100% of the Hong Kong Gold Project (Figures 1 and 2) from Red Field Pty Ltd (see ASX: 1 December 2017 for full details). The Project contains over five strike kilometres of lower Fortescue Group rocks including both the Hardey Formation and the Mount Roe Basalt, as mapped by the Geological Survey of Western Australia (GSWA), with Novo Resources describing this stratigraphy as being "the key to the recent new conglomerate gold discoveries in the region". Previous explorers have also targeted Archaean lode hosted gold mineralisation and VMS mineralisation.
Clancy Exploration Limited (ASX: CLY) ASX / Media Announcement
The Hong Kong Project includes historical eluvial and alluvial gold mines located at Hong Kong Far West, Empress North and John Bull West. Better high-grade rock chip samples across the project tenure include:
- 71.4g/t Au from John Bull Prospect
- 45.5g/t Au & 6.9g/t Au from Last Chance Prospect
- 33.2g/t Au from Princess May South Prospect
- 14.9g/t Au from Foochow Prospect
- 5.4g/t Au from Hong Kong Prospect
During the quarter, the Company progressed Phase 1 of its maiden exploration program targeting conglomerate-hosted gold, lode gold and VHMS mineralisation on the Hong Kong Project. A review of historical data has resulted in the development of a program of works with early focus concentrated along the exposed sections of the lower Fortescue Group.
The Company has also engaged with the relevant Aboriginal communities and continues to the work with them to progress Native Title and Heritage approvals prior to commencing field work on the Project.
Figures 10 and 11: Location of Clancy's Hong Kong Exploration Licence E47/3566 and location of prospective strike length of the basal contact of the Mt Roe Basalt.
CORPORATE ACTIVITIES
Licensing update on Leogang Co-Ni-Cu Sulphide Project in Austria
Clancy's investigations into its tenure of the Leogang Project in Austria (announced 5 September 2017) determined that there were 28 overlapping licences out of Clancy's 200 licences that had predated licenses by other parties. These priority licences cover a total area of approximately 12km2 and included the historical Nockelberg and Leogang mines. Clancy continues to have priority over the balance of the project area, being 172 licences covering approximately 68km2 .
Prior to the investigations Cadence Minerals Plc (Cadence) acquired a 10% interest (refer to ASX announcement dated 3 July 2017) in the licences held by Clancy and the parties entered into a joint venture. Cadence was subsequently made aware of the licensing situation and confirmed that they plan to proceed with the joint venture on the Leogang Project and will continue to work with Clancy in evaluating the remaining 85% of the project licences. Both parties remain committed to working together on the remaining project tenure and looking for additional strategic mineral properties in the battery technology sector. The Board of Clancy, in discussions with Cadence, have considered it appropriate to issue Cadence 140,000,000 fully paid ordinary shares at a deemed price of $0.003 as compensation for the discovery of third party priority over the 28 overlapping licenses (including the historical Nockelberg and Leogang mines) that formed part of the original 10% transaction previously announced.
Cleansing Prospectus and Court Application
On 1 December 2017, the Company issued shares to Red Field Pty Ltd or its nominees in consideration of the acquisition of the Hong Kong Gold Project (Red Field Shares) as announced to the market on that date. Clancy was unable to lodge a cleansing notice in respect of the Red Field Shares as its shares had been suspended from trading for more than 5 days in the previous 12 months.
During the quarter, the Company became aware that some of the Red Field Shares have been offered for sale, or sold, in breach of section 707(3) of the Corporations Act and consequently the Company lodged a cleansing prospectus on 21 March 2018 to ensure that any further offers for sale, or sales, of Red Field Shares do not breach the Corporations Act.
The Company applied to the Federal Court of Australia for orders providing for the retrospective curing of the offers for sale, or sale, by the subscribers of the Red Field Shares and parties who took transfers of any of the Red Field Shares. Subsequent to the end of the quarter, the Company was successful in obtaining the orders sought from the Federal Court. For further details of the orders, see the Company's announcement dated 10 April 2018.
Shareholder approvals being sought
It is a condition of the Acquisition of the Moroccan Cobalt Licences that Clancy obtains shareholder approval to issue the 610 million Clancy Shares. In conjunction with shareholder approval, Clancy will seek a waiver from ASX Listing Rule 7.3.2 to issue the 610 million Clancy Shares over a period of up to 2 years and 4 months.
Concurrently with the above approvals, shareholders will be asked to approve a new remuneration package and the issue of certain performance rights for the directors of the Company. For further details, see the Company's ASX announcement dated 10 April 2018. Full details will be set out in the notice of meeting to be issued by Company in due course.
Change of Director Role
Subject to the receipt of the above shareholder approvals, Mr David Lenigas, the Company's Chairman, will transition from Non-Executive Chairman to Executive Chairman of the Company, reflecting the increased role Mr Lenigas will take in all aspects of the Company's activities, and the increased commitment required due to the proposed Acquisition. Mr Lenigas, as Executive Chairman, will focus primarily on strategy, strategic relationships and the capital markets. Mr Lenigas will receive monthly remuneration of A$10,000 through a new consulting letter agreement. The arrangement can be terminated by either party on three months' notice.
Forward-looking Statements and Disclaimer:
Forward-looking statements are statements that are not historical facts. Words such as "expect(s)", "feel(s)", "believe(s)", "will", "may", "anticipate(s)" and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to statements regarding future production, resources or reserves and exploration results. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of Clancy, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to: (i) those relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations, (ii) risks relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined, (iii) the potential for delays in exploration or development activities or the completion of feasibility studies, (iv) risks related to commodity price and foreign exchange rate fluctuations, (v) risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities, and (vi) other risks and uncertainties related to Clancy's prospects, properties and business strategy. Our audience is cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.
COMPETENT PERSONS' STATEMENTS
The information in this document that relates to Exploration Results in respect of the Hong Kong Gold Project in Western Australia was reported by the Company in an announcement released to ASX on 1 December 2017. The Company confirms that it is not aware of any new information or data that materially affects these Exploration Results.
The information in this document that relates to Exploration Results and Exploration Targets in respect of the Cobalt Licenses in Morocco was reported by the Company in announcements released to ASX on 10 April 2018 and 20 April 2018. The Company confirms that it is not aware of any new information or data that materially affects these Exploration Results and Exploration Targets.
Appendix 1: Clancy Exploration Limited Interests in Mining Tenements
The following information is provided pursuant to Listing Rule 5.3.3 for the quarter ended 31 March 2018.
Clancy Exploration Limited (ASX: CLY) ASX / Media Announcement
| Austrian Tenement Schedule – Leogang - Clancy First Priority | ||||||
|---|---|---|---|---|---|---|
| Designation | Reference | Coordinates in Metres | Cadastral Municipalities | |||
| Meridian | Y | X | Centre in theCadastralMunicipality | Other CadastralMunicipalityConcerned | ||
| 51/17/S (CLY-LEOG-003) | M 31 | -48.300,37 | 5.255.801,08 | Schwarzleo | ||
| 56/17/S (CLY-LEOG-008) | M 31 | -47.598,54 | 5.255.801,08 | Schwarzleo | Sonnberg, Pirzbichl | |
| 57/17/S (CLY-LEOG-009) | M 31 | -48.999,02 | 5.255.797,89 | Schwarzleo | Grießen | |
| 58/17/S (CLY-LEOG-010) | M 31 | -49.698,06 | 5.255.794,71 | Schwarzleo | Grießen | |
| 64/17/S (CLY-LEOG-016) | M 31 | -50.400,13 | 5.255.799,19 | Schwarzleo | Grießen | |
| 68/17/S (CLY-LEOG-020) | M 31 | -51.093,42 | 5.255.793,06 | Grießen | ||
| 71/17/S (CLY-LEOG-023) | M 31 | -51.798,97 | 5.255.793,05 | Grießen | ||
| 74/17/S (CLY-LEOG-026) | M 31 | -52.498,40 | 5.255.799,19 | Grießen | Hoch filzen | |
| 78/17/S (CLY-LEOG-030) | M 31 | -52.492,26 | 5.254.596,68 | Schwarzleo | ||
| 79/17/S (CLY-LEOG-031) | M 31 | -52.492,26 | 5.253.394,16 | Schwarzleo | Saalbach | |
| 80/17/S (CLY-LEOG-032) | M 31 | -52.841,97 | 5.254.001,55 | Schwarzleo | Saalbach | |
| 81/17/S (CLY-LEOG-033) | M 31 | -52.848,10 | 5.255.197,93 | Schwarzleo | Grießen,Hochfilzen,Fieberbrunn | |
| 82/17/S (CLY-LEOG-034) | M 31 | -53.203,95 | 5.253.400,29 | Schwarzleo | Saalbach | |
| 83/17/S (CLY-LEOG-035) | M 31 | -53.191,68 | 5.254.596,68 | Schwarzleo | Fieberbrunn | |
| 84/17/S (CLY-LEOG-036) | M 31 | -53.547,53 | 5.254.001,56 | Schwarzleo | Fieberbrunn, Saalbach | |
| 85/17/S (CLY-LEOG-037) | M 31 | -53.541,39 | 5.255.191,80 | Fieberbrunn | ||
| 86/17/S (CLY-LEOG-038) | M 31 | -53.205,07 | 5.255.798,61 | Fieberbrunn | Hoch filzen | |
| 87/17/S (CLY-LEOG-039) | M 31 | -53.900,65 | 5.254.602,23 | Fieberbrunn | ||
| 88/17/S (CLY-LEOG-040) | M 31 | -54.253,07 | 5.255.195,78 | Fieberbrunn | ||
| 89/17/S (CLY-LEOG-041) | M 31 | -53.890,53 | 5.255.792,75 | Fieberbrunn | ||
| 90/17/S (CLY-LEOG-042) | M 31 | -53.897,23 | 5.253.400,97 | Fieberbrunn | Saalbach | |
| 91/17/S (CLY-LEOG-043) | M 31 | -54.252,31 | 5.253.997,24 | Fieberbrunn | ||
| 92/17/S (CLY-LEOG-044) | M 31 | -54.593,99 | 5.254.600,21 | Fieberbrunn | ||
| 93/17/S (CLY-LEOG-045) | M 31 | -54.593,99 | 5.255.799,44 | Fieberbrunn | ||
| 94/17/S (CLY-LEOG-046) | M 31 | -54.942,37 | 5.253.990,54 | Fieberbrunn | ||
| 95/17/S (CLY-LEOG-047) | M 31 | -54.600,69 | 5.253.400,97 | Fieberbrunn | Saalbach | |
| 96/17/S (CLY-LEOG-048) | M 31 | -54.949,08 | 5.255.203,18 | Fieberbrunn | ||
| 98/17/S (CLY-LEOG-050) | M 31 | -55.290,76 | 5.255.799,44 | Fieberbrunn | ||
| 99/17/S (CLY-LEOG-051) | M 31 | -55.297,46 | 5.253.400,97 | Fieberbrunn | Saalbach | |
| 101/17/S (CLY-LEOG-053) | M 31 | -55.652,54 | 5.255.196,48 | Fieberbrunn | ||
| 103/17/S (CLY-LEOG-055) | M 31 | -56.000,92 | 5.253.400,97 | Fieberbrunn | ||
| 104/17/S (CLY-LEOG-056) | M 31 | -56.000,92 | 5.255.799,45 | Fieberbrunn | ||
| 105/17/S (CLY-LEOG-057) | M 31 | -56.349,30 | 5.255.203,18 | Fieberbrunn | ||
| 106/17/S (CLY-LEOG-058) | M 31 | -55.659,24 | 5.256.402,41 | Fieberbrunn | ||
| 107/17/S (CLY-LEOG-059) | M 31 | -54.949,07 | 5.256.395,71 | Fieberbrunn | ||
| 108/17/S (CLY-LEOG-060) | M 31 | -56.342,60 | 5.256.395,71 | Fieberbrunn | ||
| 109/17/S (CLY-LEOG-061)110/17/S (CLY-LEOG-062) | M 31M 31 | -56.690,98-56.697,68 | 5.255.792,755.254.600,21 | FieberbrunnFieberbrunn | ||
| 111/17/S (CLY-LEOG-063) | M 31 | -57.052,77 | 5.256.395,72 | Fieberbrunn | ||
| 112/17/S (CLY-LEOG-064) | M 31 | -57.052,76 | 5.255.209,88 | Fieberbrunn | ||
| 114/17/S (CLY-LEOG-066) | M 31 | -57.401,15 | 5.255.799,44 | Fieberbrunn | ||
| 115/17/S (CLY-LEOG-067) | M 31 | -57.401,15 | 5.254.606,91 | Fieberbrunn | ||
| 116/17/S (CLY-LEOG-068) | M 31 | -56.697,68 | 5.256.998,68 | Fieberbrunn | ||
| 117/17/S (CLY-LEOG-069) | M 31 | -57.749,53 | 5.256.395,71 | Fieberbrunn | ||
| 118/17/S (CLY-LEOG-070) | M 31 | -57.749,53 | 5.255.203,18 | Fieberbrunn | ||
| 119/17/S (CLY-LEOG-071) | M 31 | -57.052,76 | 5.253.997,24 | Fieberbrunn | ||
| 120/17/S (CLY-LEOG-072) | M 31 | -57.401,14 | 5.256.998,68 | Fieberbrunn | ||
| 121/17/S (CLY-LEOG-073) | M 31 | -58.097,91 | 5.256.998,68 | Fieberbrunn | ||
| 122/17/S (CLY-LEOG-074) | M 31 | -58.459,69 | 5.256.395,71 | Fieberbrunn | ||
| 123/17/S (CLY-LEOG-075) | M 31 | -58.091,21 | 5.255.799,44 | Fieberbrunn | ||
| 124/17/S (CLY-LEOG-076) | M 31 | -58.452,99 | 5.255.196,47 | Fieberbrunn | ||
| 125/17/S (CLY-LEOG-077) | M 31 | -58.801,37 | 5.255.799,45 | Fieberbrunn |
| 126/17/S (CLY-LEOG-078) | M 31 | -58.097,91 | 5.254.600,20 | Fieberbrunn | |
|---|---|---|---|---|---|
| 127/17/S (CLY-LEOG-079) | M 31 | -59.143,06 | 5.255.203,17 | Fieberbrunn | |
| 128/17/S (CLY-LEOG-080) | M 31 | -56.697,68 | 5.253.400,97 | Fieberbrunn | |
| 129/17/S (CLY-LEOG-081) | M 31 | -57.394,45 | 5.253.400,97 | Fieberbrunn | |
| 130/17/S (CLY-LEOG-082) | M 31 | -57.749,52 | 5.253.997,24 | Fieberbrunn | |
| 131/17/S (CLY-LEOG-083) | M 31 | -58.091,21 | 5.253.400,97 | Fieberbrunn | |
| 132/17/S (CLY-LEOG-084) | M 31 | -58.446,29 | 5.253.997,24 | Fieberbrunn | |
| 133/17/S (CLY-LEOG-085) | M 31 | -58.801,37 | 5.254.593,51 | Fieberbrunn | |
| 134/17/S (CLY-LEOG-086) | M 31 | -59.149,75 | 5.253.997,24 | Fieberbrunn | |
| 135/17/S (CLY-LEOG-087) | M 31 | -59.498,13 | 5.254.600,21 | Fieberbrunn | |
| 136/17/S (CLY-LEOG-088) | M 31 | -58.801,37 | 5.253.400,97 | Fieberbrunn | |
| 137/17/S (CLY-LEOG-089) | M 31 | -59.498,13 | 5.253.400,97 | Fieberbrunn | Aurach |
| 138/17/S (CLY-LEOG-090) | M 31 | -59.853,22 | 5.253.997,24 | Fieberbrunn | Aurach |
| 139/17/S (CLY-LEOG-091) | M 31 | -59.853,22 | 5.255.203,17 | Fieberbrunn | |
| 140/17/S (CLY-LEOG-092) | M 31 | -59.498,14 | 5.255.799,44 | Fieberbrunn | |
| 141/17/S (CLY-LEOG-093) | M 31 | -55.653,82 | 5.252.803,35 | Fieberbrunn | Saalbach |
| 142/17/S (CLY-LEOG-094) | M 31 | -56.338,36 | 5.252.803,34 | Fieberbrunn | |
| 143/17/S (CLY-LEOG-095) | M 31 | -52.843,60 | 5.256.382,17 | Hochfilzen | Grießen |
| 144/17/S (CLY-LEOG-096) | M 31 | -52.145,01 | 5.256.394,15 | Hochfilzen | Grießen |
| 145/17/S (CLY-LEOG-097) | M 31 | -54.947,60 | 5.252.798,07 | Fieberbrunn | Saalbach |
| 146/17/S (CLY-LEOG-098) | M 31 | -56.000,44 | 5.257.001,49 | Fieberbrunn | |
| 147/17/S (CLY-LEOG-099) | M 31 | -58.450,18 | 5.257.599,58 | Fieberbrunn | |
| 148/17/S (CLY-LEOG-1OO) | M 31 | -57.749,83 | 5.257.599,58 | Fieberbrunn | |
Clancy Exploration Limited (ASX: CLY) ASX / Media Announcement
| Austrian Tenement Schedule – Kitzbuhel - Clancy First Priority | ||||||
|---|---|---|---|---|---|---|
| Designation | Reference | Coordinates in Metres | Cadastral Municipalities | |||
| Meridian | Y | X | Centre in theCadastralMunicipality | Other CadastralMunicipalityConcerned | ||
| 38/17/T (CLY- KITZ-001) | M 31 | -58.798,58 | 5.257.006,95 | Fieberbrunn | ||
| 39/17/T (CLY- KITZ -002) | M 31 | -59.153,61 | 5.256.407,82 | Fieberbrunn | ||
| 40/17/T (CLY- KITZ -003) | M 31 | -59.153,61 | 5.257.598,68 | Fieberbrunn | ||
| 41/17/T (CLY- KITZ -004) | M 31 | -59.501,26 | 5.256.999,55 | Fieberbrunn | ||
| 42/17/T (CLY- KITZ-005) | M 31 | -59.501,26 | 5.258.197,80 | Fieberbrunn | ||
| 43/17/T (CLY- KITZ-006) | M 31 | -59.856,29 | 5.257.598,68 | Fieberbrunn | ||
| 44/17/T (CLY- KITZ -007) | M 31 | -59.856,29 | 5.258.811,73 | Fieberbrunn | ||
| 45/17/T (CLY- KITZ -008) | M 31 | -59.161,01 | 5.258.804,33 | Fieberbrunn | ||
| 46/17/T (CLY- KITZ -009) | M 31 | -60.203,94 | 5.258.197,80 | Fieberbrunn | ||
| 47/17/T (CLY- KITZ-010) | M 31 | -60.211,33 | 5.256.999,55 | Fieberbrunn | ||
| 48/17/T (CLY- KITZ -011) | M 31 | -59.863,69 | 5.256.407,82 | Fieberbrunn | ||
| 49/17/T (CLY- KITZ-012) | M 31 | -60.551,58 | 5.257.598,68 | Fieberbrunn | ||
| 50/17/T (CLY- KITZ-013) | M 31 | -60.551,58 | 5.258.804,32 | Fieberbrunn | ||
| 51/17/T (CLY- KITZ-014) | M 31 | -60.203,94 | 5.259.403,46 | Fieberbrunn | ||
| 52/17/T (CLY- KITZ -015) | M 31 | -59.501,26 | 5.259.403,46 | Fieberbrunn | ||
| 53/17/T (CLY- KITZ -016) | M 31 | -60.914,02 | 5.258.197,81 | Fieberbrunn | ||
| 54/17/T (CLY- KITZ -017) | M 31 | -61.254,26 | 5.258.804,32 | Fieberbrunn | ||
| 55/17/T (CLY- KITZ -018) | M 31 | -60.914,02 | 5.259.403,45 | Fieberbrunn | ||
| 56/17/T (CLY- KITZ-019) | M 31 | -60.194,72 | 5.255.800,21 | Fieberbrunn | ||
| 57/17/T (CLY- KITZ-020) | M 31 | -60.553,37 | 5.255.200,49 | Fieberbrunn | ||
| 58/17/T (CLY- KITZ-021) | M 31 | -60.553,38 | 5.256.399,93 | Fieberbrunn | ||
| 59/17/T (CLY- KITZ-022) | M 31 | -60.894,40 | 5.255.800,22 | Fieberbrunn | ||
| 60/17/T (CLY- KZTZ-023) | M 31 | -60.194,72 | 5.254.600,76 | Fieberbrunn | Aurach | |
| 61/17/T (CLY- KITZ-024) | M 31 | -60.900,28 | 5.254.600,77 | Fieberbrunn | Aurach | |
| 62/17/T (CLY-KITZ-025) | M 31 | -61.247,17 | 5.255.200,49 | Fieberbrunn | Aurach | |
| 63/17/T (CLY-KITZ-026) | M 31 | -60.553,38 | 5.254.001,04 | Fieberbrunn | Aurach | |
| 64/17/T (CLY-KITZ-027) | M 31 | -61.599,95 | 5.254.594,89 | Fieberbrunn | Aurach | |
| 65/17/T (CLY-KITZ-028) | M 31 | -61.594,07 | 5.255.800,21 | Fieberbrunn | ||
| 66/17/T (CLY-KITZ-029) | M 31 | -61.247,17 | 5.256.394,06 | Fieberbrunn | ||
| 67/17/T (CLY-KITZ-030) | M 31 | -61.952,73 | 5.256.399,93 | Fieberbrunn | ||
| 68/17/T (CLY-KITZ-031) | M 31 | -61.946,85 | 5.255.200,49 | Fieberbrunn | Aurach | |
| 69/17/T (CLY-KITZ-032) | M 31 | -62.299,63 | 5.255.800,21 | Fieberbrunn | Aurach | |
| 70/17/T (CLY-KITZ-033) | M 31 | -62.299,62 | 5.254.600,76 | Aurach |
| 71/17/T (CLY-KITZ-034) | M 31 | -61.594,07 | 5.258.199,11 | Fieberbrunn | |
|---|---|---|---|---|---|
| 72/17/T (CLY-KITZ-035) | M 31 | -61.594,07 | 5.259.392,67 | Fieberbrunn | |
| 73/17/T (CLY-KITZ-036) | M 31 | -61.946,85 | 5.258.798,83 | Fieberbrunn | |
| 74/17/T (CLY-KITZ-037) | M 31 | -61.247,17 | 5.257.593,50 | Fieberbrunn | |
| 75/17/T (CLY-KITZ-038) | M 31 | -60.900,27 | 5.256.999,66 | Fieberbrunn | |
| 76/17/T (CLY-KITZ-039) | M 31 | -61.599,95 | 5.256.999,66 | Fieberbrunn | |
| 77/17/T (CLY-KITZ-040) | M 31 | -61.952,73 | 5.257.593,50 | Fieberbrunn | |
| 78/17/T (CLY-KITZ-041) | M 31 | -62.299,62 | 5.256.999,66 | Kitzbühel Land | Fieberbrunn |
| 79/17/T (CLY-KITZ-042) | M 31 | -62.652,41 | 5.257.599,38 | Kitzbühel Land | Fieberbrunn |
| 80/17/T (CLY-KITZ-043) | M 31 | -62.293,75 | 5.258.199,10 | Fieberbrunn | |
| 81/17/T (CLY-KITZ-044) | M 31 | -62.652,41 | 5.258.792,95 | Fieberbrunn | |
| 82/17/T (CLY-KITZ-045) | M 31 | -62.299,63 | 5.259.398,55 | Fieberbrunn | |
| 83/17/T (CLY-KITZ-046) | M 31 | -62.993,42 | 5.258.199,10 | Kitzbühel Land | Fieberbrunn |
| 84/17/T (CLY-KITZ-047) | M 31 | -62.999,30 | 5.256.999,66 | Kitzbühel Land | |
| 85/17/T (CLY-KITZ-048) | M 31 | -63.352,08 | 5.257.599,38 | Kitzbühel Land | Fieberbrunn |
| 86/17/T (CLY-KITZ-049) | M 31 | -63.352,08 | 5.258.798,82 | Kitzbühel Land | Fieberbrunn |
| 87/17/T (CLY-KITZ-050) | M 31 | -63.005,18 | 5.259.398,55 | Fieberbrunn | |
| 88/17/T (CLY-KITZ-051) | M 31 | -62.650,00 | 5.256.400,26 | Kitzbühel Land | Fieberbrunn, Aurach |
| 89/17/T (CLY-KITZ-052) | M 31 | -62.649,99 | 5.255.202,51 | Aurach | |
| 90/17/T (CLY-KITZ-053) | M 31 | -63.008,02 | 5.254.597,13 | Aurach | |
| 91/17/T (CLY-KITZ-054) | M 31 | -63.001,50 | 5.255.801,38 | Kitzbühel Land | Aurach |
| 92/17/T (CLY-KITZ-055) | M 31 | -63.340,00 | 5.255.196,00 | Aurach | |
| 93/17/T (CLY-KITZ-056) | M 31 | -63.691,52 | 5.254.597,13 | Aurach | |
| 94/17/T (CLY-KITZ-057) | M 31 | -64.049,54 | 5.255.202,51 | Kitzbühel Land | Aurach |
| 95/17/T (CLY-KITZ-058) | M 31 | -64.401,05 | 5.254.597,13 | Aurach | |
| 96/17/T (CLY-KITZ-059) | M 31 | -64.746,05 | 5.255.202,51 | Kitzbühel Land | Aurach |
| 97/17/T (CLY-KITZ-060) | M 31 | -63.691,52 | 5.255.801,38 | Kitzbühel Land | Aurach |
| 98/17/T (CLY-KITZ-061) | M 31 | -63.340,00 | 5.256.393,75 | Kitzbühel Land | Aurach |
| 99/17/T (CLY-KITZ-062)100/17/T (CLY-KITZ-063) | M 31M 31 | -64.043,03-64.401,05 | 5.256.400,265.255.801,38 | Kitzbühel LandKitzbühel Land | |
| 101/17/T (CLY-KITZ-064) | M 31 | -65.097,57 | 5.255.801,38 | Kitzbühel Land | Aurach |
| 102/17/T (CLY-KITZ-065) | M 31 | -65.097,56 | 5.254.597,13 | Aurach | |
| 103/17/T (CLY-KITZ-066) | M 31 | -65.442,57 | 5.255.196,00 | Kitzbühel Land | Aurach |
| 104/17/T (CLY-KITZ-067) | M 31 | -64.739,54 | 5.256.393,75 | Kitzbühel Land | |
| 105/17/T (CLY-KITZ-068) | M 31 | -65.442,57 | 5.256.400,25 | Kitzbühel Land | Aurach |
| 106/17/T (CLY-KITZ-069) | M 31 | -65.800,59 | 5.255.801,38 | Kitzbühel Land | Aurach |
| 107/17/T (CLY-KITZ-070) | M 31 | -66.145,60 | 5.256.400,26 | Kitzbühel Land | |
| 108/17/T (CLY-KITZ-071) | M 31 | -63.702,89 | 5.256.997,52 | Kitzbühel Land | |
| 109/17/T (CLY-KITZ-072) | M 31 | -64.402,07 | 5.257.002,51 | Kitzbühel Land | |
| 110/17/T (CLY-KITZ-073) | M 31 | -65.106,24 | 5.256.997,51 | Kitzbühel Land | |
| 111/17/T (CLY-KITZ-074) | M 31 | -64.052,48 | 5.257.596,81 | Kitzbühel Land | |
| 112/17/T (CLY-KITZ-075) | M 31 | -64.751,66 | 5.257.596,80 | Kitzbühel Land | |
| 113/17/T (CLY-KITZ-076) | M 31 | -63.702,89 | 5.258.206,09 | Kitzbühel Land | |
| 114/17/T (CLY-KITZ-077) | M 31 | -64.402,06 | 5.258.201,09 | Kitzbühel Land | |
| 115/17/T (CLY-KITZ-078) | M 31 | -65.450,83 | 5.257.596,81 | Kitzbühel Land | |
| 116/17/T (CLY-KITZ-079) | M 31 | -65.101,24 | 5.258.201,10 | Kitzbühel Land | |
| 117/17/T (CLY-KITZ-080) | M 31 | -64.052,48 | 5.258.805,38 | Kitzbühel Land | |
| 118/17/T (CLY-KITZ-081) | M 31 | -64.756,65 | 5.258.800,39 | Kitzbühel Land | |
| 119/17/T (CLY-KITZ-082) | M 31 | -65.450,83 | 5.258.800,39 | St. Johann in Tirol | Kitzbühel Land |
| 121/17/T (CLY-KITZ-084) | M 31 | -63.698,46 | 5.259.399,70 | Kitzbühel Land | Fieberbrunn |
| 122/17/T (CLY-KITZ-085) | M 31 | -64.401,43 | 5.259.399,70 | St. Johann in Tirol | Kitzbühel Land |
| 123/17/T (CLY-KITZ-086) | M 31 | -65.100,16 | 5.259.399,70 | St. Johann in Tirol | Kitzbühel Land |
| 124/17/T (CLY-KITZ-087)125/17/T (CLY-KITZ-088) | M 31M 31 | -64.049,95-64.748,68 | 5.260.001,035.260.001,03 | St. Johann in TirolSt. Johann in Tirol | Kitzbühel Land, Fieberbrunn |
| 126/17/T (CLY-KITZ-089) | M 31 | -65.455,89 | 5.260.001,03 | St. Johann in Tirol | |
| 127/17/T (CLY-KITZ-090) | M 31 | -64.401,43 | 5.260.606,61 | St. Johann in Tirol | |
| 128/17/T (CLY-KITZ-091) | M 31 | -65.104,40 | 5.260.602,37 | St. Johann in Tirol | |
| 129/17/T (CLY-KITZ-092) | M 31 | -65.798,89 | 5.260.606,60 | St. Johann in Tirol | |
| 130/17/T (CLY-KITZ-093) | M 31 | -65.807,36 | 5.259.399,70 | St. Johann in Tirol | Kitzbühel Land |
| 131/17/T (CLY-KITZ-094) | M 31 | -65.450,97 | 5.261.204,52 | St. Johann in Tirol | |
| 132/17/T (CLY-KITZ-095) | M 31 | -66.148,70 | 5.261.202,29 | St. Johann in Tirol | |
| 133/17/T (CLY-KITZ-096) | M 31 | -66.150,93 | 5.260.003,62 | St. Johann in Tirol |
Clancy Exploration Limited (ASX: CLY) ASX / Media Announcement
| 135/17/T (CLY-KITZ-098) | M 31 | -65.801,79 | 5.257.002,86 | Kitzbühel Land | |
|---|---|---|---|---|---|
| 137/17/T (CLY-KITZ-100) | M 31 | -60.203,85 | 5.253.403,67 | Aurach | |
| Austrian Tenement Schedule – Leogang - Clancy Second Priority in at least 50% of the licence area | |||||
| Designation | Reference | Coordinates in Metres | Cadastral Municipalities | ||
| Meridian | Y | X | Centre in theCadastralMunicipality | Other CadastralMunicipalityConcerned | |
| 49/17/S (CLY-LEOG-001) | M 31 | -47.949,45 | 5.255.194,95 | Schwarzleo | Sonnberg |
| 50/17/S (CLY-LEOG-002) | M 31 | -48.648,10 | 5.255.198,14 | Schwarzleo | |
| 52/17/S (CLY-LEOG-004) | M 31 | -48.297,18 | 5.254.598,39 | Schwarzleo | |
| 53/17/S (CLY-LEOG-005) | M 31 | -48.999,02 | 5.254.598,39 | Schwarzleo | |
| 54/17/S (CLY-LEOG-006) | M 31 | -48.644,91 | 5.253.995,45 | Schwarzleo | |
| 55/17/S (CLY-LEOG-007) | M 31 | -49.349,93 | 5.253.995,45 | Schwarzleo | |
| 59/17/S (CLY-LEOG-011) | M 31 | -49.348,40 | 5.255.197,62 | Schwarzleo | |
| 60/17/S (CLY-LEOG-012) | M 31 | -49.693,80 | 5.254.599,97 | Schwarzleo | |
| 61/17/S (CLY-LEOG-013) | M 31 | -50.046,95 | 5.255.201,50 | Schwarzleo | Grießen |
| 62/17/S (CLY-LEOG-014) | M 31 | -50.050,42 | 5.254.001,55 | Schwarzleo | |
| 63/17/S (CLY-LEOG-015) | M 31 | -50.393,99 | 5.254.596,68 | Schwarzleo | |
| 65/17/S (CLY-LEOG-017) | M 31 | -50.755,97 | 5.255.191,80 | Schwarzleo | Grießen |
| 66/17/S (CLY-LEOG-018) | M 31 | -50.749,84 | 5.254.001,56 | Schwarzleo | |
| 67/17/S (CLY-LEOG-019) | M 31 | -51.093,42 | 5.254.596,68 | Schwarzleo | |
| 69/17/S (CLY-LEOG-021) | M 31 | -51.449,26 | 5.254.001,56 | Schwarzleo | |
| 70/17/S (CLY-LEOG-022) | M 31 | -51.449,26 | 5.255.191,79 | Schwarzleo | Grießen |
| 72/17/S (CLY-LEOG-024) | M 31 | -51.798,98 | 5.254.596,67 | Schwarzleo | |
| 73/17/S (CLY-LEOG-025) | M 31 | -52.142,55 | 5.255.197,93 | Schwarzleo | Grießen |
| 75/17/S (CLY-LEOG-027) | M 31 | -51.099,55 | 5.253.400,30 | Schwarzleo | |
| 76/17/S (CLY-LEOG-028) | M 31 | -51.792,84 | 5.253.394,16 | Schwarzleo | |
| 77/17/S (CLY-LEOG-029) | M 31 | -52.142,55 | 5.254.001,56 | Schwarzleo | |
| 97/17/S (CLY-LEOG-049) | M 31 | -55.290,75 | 5.254.600,21 | Fieberbrunn | |
| 100/17/S (CLY-LEOG-052) | M 31 | -55.652,54 | 5.253.997,24 | Fieberbrunn | |
| 102/17/S (CLY-LEOG-054) | M 31 | -55.994,22 | 5.254.600,21 | Fieberbrunn | |
| 113/17/S (CLY-LEOG-065) | M 31 | -56.349,30 | 5.253.997,24 | Fieberbrunn |
Clancy Exploration Limited (ASX: CLY) ASX / Media Announcement
| Austrian Tenement Schedule – Kitzbuhel - Clancy Second Priority in at least 50% of licence area | ||||||
|---|---|---|---|---|---|---|
| Designation | Reference | Coordinates in Metres | Cadastral Municipalities | |||
| Meridian | Y | X | Centre in theCadastralMunicipality | Other CadastralMunicipalityConcerned | ||
| 120/17/T (CLY-KITZ-083) | M 31 | -65.800,42 | 5.258.201,09 | Kitzbühel Land | ||
| 134/17/T (CLY-KITZ-097) | M 31 | -66.153,17 | 5.258.802,72 | St. Johann in Tirol | Kitzbühel Land | |
| 136/17/T (CLY-KITZ-099) | M 31 | -66.153,31 | 5.257.600,01 | Kitzbühel Land |
| Australian Tenement Schedule | |||||||
|---|---|---|---|---|---|---|---|
| State | Project | Lease No | Clancy interest | Area (km2) | Note | ||
| WA | Hong Kong | EL 47/3566* | 100% | 40.0 | |||
| NSW | Condobolin | EL 7748 | 100% | 89.3 | |||
| NSW | Genaren | EL 7927 | 100% | 95.4 | |||
| NSW | Cundumbul | EL 6661 | 100% | 69.3 | |||
| NSW | Fairholme | EL 6552 | 100% | 54.5 | |||
| NSW | Fairholme | EL 6915 | 100% | 114.7 | |||
| NSW | Orange East | EL 8442 | 100% | 40.2 | Alkane earning 60% | ||
| NSW | Trundle | EL 8222 | 100% | 167.2 | |||
| NSW | Jemalong | EL 8502 | 100% | 91.6 |
There were no mining interests acquired or disposed of during the quarter.
+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
Clancy Exploration Limited
ABN Quarter ended ("current quarter")
65 105 578 756 31 March 2018
| Consolidated statement of cash flows | Current quarter$A'000 | Year to date(9 months)$A'000 | |
|---|---|---|---|
| 1. | Cash flows from operating activities | ||
| 1.1 | Receipts from customers | ||
| 1.2 | Payments for | ||
| (a)exploration & evaluation | (29) | (97) | |
| (b)development | |||
| (c)production | |||
| (d)staff costs | (63) | (63) | |
| (e)administration and corporate costs | (68) | (318) | |
| 1.3 | Dividends received (see note 3) | ||
| 1.4 | Interest received | 3 | 11 |
| 1.5 | Interest and other costs of finance paid | ||
| 1.6 | Income taxes paid | ||
| 1.7 | Research and development refunds | ||
| 1.8 | Other (provide details if material) | ||
| 1.9 | Net cash from / (used in) operatingactivities | (157) | (467) |
| 2. | Cash flows from investing activities | ||
|---|---|---|---|
| 2.1 | Payments to acquire: | ||
| (a)property, plant and equipment | |||
| (b)tenements (see item 10) | *(64) | (71) | |
| (c)investments | |||
| (d)other non-current assets |
- See chapter 19 for defined terms
1 September 2016 Page 1
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
| Consolidated statement of cash flows | Current quarter$A'000 | Year to date(9 months)$A'000 | |
|---|---|---|---|
| 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) | 26 | 26 |
| 2.6 | Net cash from / (used in) investingactivities | (38) | (45) |
* Stamp duty paid on acquisition of EL47/3566
| 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 | - | 1 |
| 3.4 | Transaction costs related to issues ofshares, convertible notes or options | ||
| 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 | - | 1 |
| 4. | Net increase / (decrease) in cash andcash equivalents for the period | ||
|---|---|---|---|
| 4.1 | Cash and cash equivalents at beginning ofperiod | 1,147 | 1,463 |
| 4.2 | Net cash from / (used in) operatingactivities (item 1.9 above) | (157) | (467) |
| 4.3 | Net cash from / (used in) investing activities(item 2.6 above) | (38) | (45) |
| 4.4 | Net cash from / (used in) financing activities(item 3.10 above) | - | 1 |
| 4.5 | Effect of movement in exchange rates oncash held | - | - |
| 4.6 | Cash and cash equivalents at end ofperiod | 952 | 952 |
- See chapter 19 for defined terms
5.1 Bank balances 952 947 5.2 Call deposits - 200
| n necessary to understand the transactions include | |
|---|---|
| 6.3 | Include below any explanation necessary to understand the transactions included in |
|---|
items 6.1 and 6.2
5.3 Bank overdrafts
5.4 Other (provide details)
Payments to directors/director associates for director fees and legal fees.
7. Payments to related entities of the entity and their associates
at the end of the quarter (as shown in the consolidated statement of cash flows) to the
related items in the accounts
5.5 Cash and cash equivalents at end of
# Excludes $130,000 of restricted cash.
quarter (should equal item 4.6 above)
- 7.1 Aggregate amount of payments to these parties included in item 1.2
- 7.2 Aggregate amount of cash flow from loans to these parties included in item 2.3
- 7.3 Include below any explanation necessary to understand the transactions included in items 7.1 and 7.2
| 6. | Payments to directors of the entity and their associates | Current quarter$A'000 |
|---|---|---|
| 6.1 | Aggregate amount of payments to these parties included in item 1.2 | 52 |
| 6.2 | Aggregate amount of cash flow from loans to these parties includedin item 2.3 | - |
Current quarter $A'000
952 # 1,147 #
| 8. | Financing facilities available |
|---|---|
| Add notes as necessary for an | |
| understanding of the position |
- 8.1 Loan facilities
- 8.2 Credit standby arrangements
- 8.3 Other (please specify)
| Total facility amountat quarter end$A'000 | Amount drawn atquarter end$A'000 | ||
|---|---|---|---|
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 | 190 | |
| 9.2 | Development | ||
| 9.3 | Production | ||
| 9.4 | Staff costs | 65 | |
| 9.5 | Administration and corporate costs | 70 | |
| 9.6 | Other (provide details if material) | ||
| 9.7 | Total estimated cash outflows | 325 |
| 10. | Changes intenements(items 2.1(b) and2.2(b) above) | Tenementreferenceand location | Nature of interest | Interest atbeginningof quarter | Interestat end ofquarter |
|---|---|---|---|---|---|
| 10.1 | Interests in miningtenements andpetroleum tenementslapsed, relinquishedor reduced | ||||
| 10.2 | Interests in miningtenements andpetroleum tenementsacquired or increased |
* The amount included at Item 2.1(b) relates to stamp duty paid on the acquisition of EL47/3566. 100% of EL47/3566 was acquired by Clancy Exploration Ltd during the December 2017 quarter.
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.
Sign here: Date: 30 April 2018 …………………………………
Company Secretary
Print name: Oonagh Malone
Notes
-
- 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.
-
- 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.
-
- 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.