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RAREX LIMITED Interim / Quarterly Report 2017
65681_rns_2018-01-29_cb8dd0cb-cd3c-4fcb-8581-e1b10e27e981.pdf
Interim / Quarterly Report
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Clancy Exploration Limited Suite 23, 513 Hay Street Subiaco, WA 6008 Australia
Phone: (08) 6143 6720 Fax: (08) 9388 8824 www.clancyexploration.com [email protected]
QUARTERLY ACTIVITIES and CASHFLOW REPORT For the period ending 31 December 2017
The Board of Clancy Exploration Limited ("Clancy" or the "Company") provides its Quarterly Activities report for the period ending 31 December 2017.
Summary
- Acquired Hong Kong Gold Project in highly prospective Pilbara region. Granted licence tenure of 40km2 with a prospective strike length of over 5km. Mapping outlines presence of highly prospective lower Fortescue Group lithologies. Lithologies recently identified by Novo Resources (TSX-V: NVO) as "the key stratigraphy to the recent new conglomerate gold discoveries within the region".
- Exploration program commenced at Hong Kong Gold Project targeting conglomerate-hosted gold.
- Mr Shaun Hardcastle was appointed to the Clancy board as a Non-Executive Director.
- Clancy had cash on hand at the end of the December quarter of $1.15m.
WA Project
Hong Kong Gold Project EL 47/3566
(WA, Clancy 100%)
The Company acquired 100% of the Hong Kong Gold Project (Figure 1 and 2) from Red Field Pty Ltd on 1 December 2017 (refer to ASX announcement "Acquisition of Highly Prospective Pilbara Gold Project" dated 1 December 2017). 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). Novo Resources describe 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.
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 project tenure include:
- o 71.4g/t Au from John Bull Prospect
- o 45.5g/t Au & 6.9g/t Au from Last Chance Prospect
- o 33.2g/t Au from Princess May South Prospect
- o 14.9g/t Au from Foochow Prospect
- o 5.4g/t Au from Hong Kong Prospect.
The Company has commenced an exploration program targeting conglomerate-hosted gold, lode gold and VHMS mineralisation with the focus being:
- Phase 1: Satellite imagery interpretation for regolith and landform analysis combined with a review of historical data to develop suitable and systematic exploration strategies for the identified environments.
- Phase 2: Surface exploration including metal detecting, geological mapping together with surface and stream geochemistry sampling along the exposed and highly prospective lower Fortescue Group that is the host stratigraphy to several recent conglomerate-hosted gold discoveries in the region.
The early focus on the project will be concentrated along the exposed sections of the lower Fortescue Group. The exploration program will be expanded to include Archaean lode hosted gold mineralisation and VHMS mineralisation on the Project. The overall objective of this programs is to define targets for RC (reverse circulation) or diamond drilling.
Figure 1: Location of Clancy's Hong Kong Exploration Licence E47/3566
Figure 2: Location of prospective strike length of the basal contact of the Mt Roe Basalt
Austrian Project
Leogang Cobalt Nickel Project
In mid-2017, the Company was granted exploration licences over the Leogang Cobalt-Nickel Project covering approximately 80km2 in the Salzburg and Kitzbuhel regions in western Austria. Subsequently, Cadence Minerals Plc acquired a 10% interest in the licences held by Clancy and both parties entered into a joint venture.
The Leogang acquisition delivered a significant land position in the prospective dolomite belt in western Austria.
- Nickel and cobalt were mined in the region from the mid-16th century when Leogang was famed for the richness of its cobalt and nickel mineralisation.
- Mining peaked in the late 1700's but the market fell away after the Napoleonic Wars.
- Licences were originally targeted to cover each historical mine and further extensions of the host dolomitic mineralisation.
As announced on 5 September 2017, it subsequently transpired that Clancy had priority rights, under Austrian law, over 172 of our 200 granted licences and next-in-line rights over the balance.
Figure 3: Regional Location Plan of Leogang Project
Clancy continues to hold priority interests in 172 licences covering approximately 68 km2 at Leogang. This includes the areas around, but not immediately surrounding, the historical mines and extensions through the dolomite which was the target mineralisation for the original applications.
The Company and Cadence have been focused on assessing the potential of the Leogang Project as planned with the view of identifying a new cobalt mining precinct in the heart of Europe and on the doorstep of the battery and renewable technology sectors.
Figure 4: Map showing the extent of the priority licences
NSW Projects
Orange East EL8442
(NSW, Clancy 100%; Alkane Resources Ltd, earning 60% and funding 100%)
Orange East is located 15km ESE of the city of Orange and contains several target styles including Ordovician porphyry copper-gold and post-Ordovician copper-gold targets. Numerous old workings occur in the area and many are focused along the regional scale Godolphin Fault. Previous work by Clancy defined a soil anomaly at the Gunnarbee prospect, which has similar geochemical, structural and geological characteristics as the nearby McPhillamys gold deposit, 15km along strike to the south (Figure 1).
Alkane Resources Ltd (Alkane; ASX: ALK) can earn a 60% interest in the Orange East project by spending $500,000 on exploration over three years. Alkane can earn a further 20% interest (80% total) by spending an additional $500,000 on exploration over the subsequent three years. Alkane is managing the exploration program. The project was inactive during the quarter.
Trundle EL8222
(NSW, Clancy 100%)
The Trundle project consists of a single exploration licence EL8222 located 25km west of the Northparkes copper-gold mine. There is extensive evidence of porphyry and skarn-style copper-gold mineralisation similar to the Cadia Valley and Northparkes. Clancy is seeking to either divest or find a partner for the Trundle project.
Condobolin EL7748
(NSW, Clancy 100%)
Condobolin EL7748 is in the central west of NSW immediately north of the Condobolin township. Condobolin has a substantial mining history, predominantly as a base metals field (lead, zinc and copper), as well as gold. The mineralisation is hosted in epithermal-style quartz veins within the metasedimentary units of the Ordovician Girilambone Group, associated with pyrite, sphalerite, galena, chalcopyrite, arsenopyrite and free gold. Clancy is seeking to either divest or find a partner for the Condobolin project.
Fairholme EL6552 & EL6915
(NSW, Clancy 100%)
The Fairholme project is located in the Fairholme Igneous Complex 12km north of the Cowal gold mine. The geophysical characteristics of the Fairholme Igneous Complex are similar to the Cowal Complex to the south, which hosts the Cowal gold mine and the Marsden porphyry copper-gold deposit (Evolution). Clancy is seeking to either divest or find a partner for the Fairholme project.
NSW Royalty Projects
(NSW, Clancy NSR)
Following the sale of joint venture interests to Gold Fields in February 2013, Clancy held 2.5% Net Smelter Return (NSR) royalties on Cowal East (Wyrra), Myall, Parkes East, Moorefield and Wellington North, subject to the tenement holder having the right at any time to purchase the NSR's for A$20 million each (Buyout Right).
During 2016, Clancy agreed with the current tenement holder of Myall, Parkes East, Moorefield and Wellington North (Modeling Resources Pty Limited, a wholly owned subsidiary of ASX-listed Magmatic Resources (ASX: MAG)) to reduce the NSR from 2.5% to 2% in return for removing the Buyout Right, but only in respect of any of the relevant tenements which Modeling Resources is in turn able to joint venture to a specified incoming party.
The Company has been notified that JOGMEC has joint ventured into the Parkes East project. Therefore, the NSR on Parkes East has been reduced to 2% and the buyout right has been removed. The Company has not been notified that the specified incoming party has joint ventured into the Myall, Moorefield or Wellington North projects. The NSR over the Wyrra project remains in place and is unaffected by the above changes.
Figure 1 – Map showing location of Clancy projects in central NSW.
Corporate Update
Board Changes
Mr Shaun Hardcastle was appointed to the Clancy board as a Non-Executive Director on 1 December 2017. Mr Hardcastle has over 10 years' experience as a corporate and finance lawyer and extensive experience in corporate governance, risk management and compliance. He has been involved in a broad range of crossborder and domestic transactions including joint ventures, corporate restructuring, project finance, resources and asset/equity sales and acquisitions. Mr Hardcastle has practiced law both in Australia and overseas and is a partner at Bellanhouse Lawyers. Shaun is currently a non-executive director of ASX listed companies Hawkstone Mining Limited (ASX: HWK) and Schrole Group Limited (ASX: SCL).
Mr Evan Cranston retired from the Board of Directors of Clancy due to work related commitments in his role as Executive Chairman of New Century Resources Limited.
Other
As part of the agreement to acquire 100% of the Hong Kong Project from Red Field Pty Ltd, Clancy issued 270,000,000 fully paid ordinary shares at a deemed issue price of $0.005 per share, for a total value of $1.35 million. The issue of the consideration shares was within Clancy's existing ASX Listing Rule 7.1 placement capacity.
Cash Position
As at 31 December 2017, the Company had cash on hand of $1.15m. For further details, refer to the Appendix 5B.
Please direct enquiries to:
Scott Patrizi Phone: +61 8 6143 6720 Email: [email protected] Web: www.clancyexploration.com
About Clancy Exploration
Clancy Exploration (ASX: CLY) is an Australian-based minerals explorer. Clancy has recently acquired the Hong Kong Gold Project in Western Australia and holds the Leogang Cobalt-Nickel-Copper Project in Austria.
The Hong Kong Gold project was acquired to target the recent new conglomerate gold discoveries within the Pilbara region. It contains a number of historical mines.
The Leogang Project was targeted based on the high grade historical cobalt and nickel mines in the area and has had very little modern exploration.
The Company's NSW portfolio consists of copper-gold projects in the Lachlan Fold Belt where it has six wholly owned and managed projects and one joint venture project with Alkane Resources Ltd (ASX: ALK). The Company also retains NSR royalty interests over six licences in NSW.
Details of Clancy's projects can be found at the Company's website: www.clancyexploration.com
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 the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forwardlooking 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 the Company'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.
| Austrian Tenement Schedule – Leogang - Clancy First Priority | |||||||
|---|---|---|---|---|---|---|---|
| Designation | Reference | Coordinates in Metres | Cadastral Municipalities | ||||
| Meridian | Y | X | Centre intheCadastralMunicipality | Other CadastralMunicipalityConcerned | |||
| 51/17/S003) | (CLY-LEOG | M 31 | -48.300,37 | 5.255.801,08 | Schwarzleo | ||
| 56/17/S008) | (CLY-LEOG | M 31 | -47.598,54 | 5.255.801,08 | Schwarzleo | Sonnberg, Pirzbichl | |
| 57/17/S009) | (CLY-LEOG | M 31 | -48.999,02 | 5.255.797,89 | Schwarzleo | Grießen | |
| 58/17/S010) | (CLY-LEOG | M 31 | -49.698,06 | 5.255.794,71 | Schwarzleo | Grießen | |
| 64/17/S016) | (CLY-LEOG | M 31 | -50.400,13 | 5.255.799,19 | Schwarzleo | Grießen | |
| 68/17/S020) | (CLY-LEOG | M 31 | -51.093,42 | 5.255.793,06 | Grießen | ||
| 71/17/S023) | (CLY-LEOG | M 31 | -51.798,97 | 5.255.793,05 | Grießen | ||
| 74/17/S026) | (CLY-LEOG | M 31 | -52.498,40 | 5.255.799,19 | Grießen | Hoch filzen | |
| 78/17/S030) | (CLY-LEOG | M 31 | -52.492,26 | 5.254.596,68 | Schwarzleo | ||
| 79/17/S031) | (CLY-LEOG | M 31 | -52.492,26 | 5.253.394,16 | Schwarzleo | Saalbach | |
| 80/17/S032) | (CLY-LEOG | M 31 | -52.841,97 | 5.254.001,55 | Schwarzleo | Saalbach | |
| 81/17/S033) | (CLY-LEOG | M 31 | -52.848,10 | 5.255.197,93 | Schwarzleo | Grießen, Hoch filzen, Fieberbrunn | |
| 82/17/S034) | (CLY-LEOG | M 31 | -53.203,95 | 5.253.400,29 | Schwarzleo | Saalbach | |
| 83/17/S035) | (CLY-LEOG | M 31 | -53.191,68 | 5.254.596,68 | Schwarzleo | Fieberbrunn | |
| 84/17/S036) | (CLY-LEOG | M 31 | -53.547,53 | 5.254.001,56 | Schwarzleo | Fieberbrunn, Saalbach | |
| 85/17/S037) | (CLY-LEOG | M 31 | -53.541,39 | 5.255.191,80 | Fieberbrunn | ||
| 86/17/S038) | (CLY-LEOG | M 31 | -53.205,07 | 5.255.798,61 | Fieberbrunn | Hoch filzen | |
| 87/17/S039) | (CLY-LEOG | M 31 | -53.900,65 | 5.254.602,23 | Fieberbrunn | ||
| 88/17/S040) | (CLY-LEOG | M 31 | -54.253,07 | 5.255.195,78 | Fieberbrunn | ||
| 89/17/S041) | (CLY-LEOG | M 31 | -53.890,53 | 5.255.792,75 | Fieberbrunn | ||
| 90/17/S042) | (CLY-LEOG | M 31 | -53.897,23 | 5.253.400,97 | Fieberbrunn | Saalbach | |
| 91/17/S043) | (CLY-LEOG | M 31 | -54.252,31 | 5.253.997,24 | Fieberbrunn | ||
| 92/17/S044) | (CLY-LEOG | M 31 | -54.593,99 | 5.254.600,21 | Fieberbrunn | ||
| 93/17/S045) | (CLY-LEOG | M 31 | -54.593,99 | 5.255.799,44 | Fieberbrunn | ||
| 94/17/S046) | (CLY-LEOG | M 31 | -54.942,37 | 5.253.990,54 | Fieberbrunn | ||
| 95/17/S047) | (CLY-LEOG | M 31 | -54.600,69 | 5.253.400,97 | Fieberbrunn | Saalbach | |
| 96/17/S048) | (CLY-LEOG | M 31 | -54.949,08 | 5.255.203,18 | Fieberbrunn |
| 98/17/S050) | (CLY-LEOG | M 31 | -55.290,76 | 5.255.799,44 | Fieberbrunn | |
|---|---|---|---|---|---|---|
| 99/17/S051) | (CLY-LEOG | M 31 | -55.297,46 | 5.253.400,97 | Fieberbrunn | Saalbach |
| 101/17/S053) | (CLY-LEOG | M 31 | -55.652,54 | 5.255.196,48 | Fieberbrunn | |
| 103/17/S055) | (CLY-LEOG | M 31 | -56.000,92 | 5.253.400,97 | Fieberbrunn | |
| 104/17/S056) | (CLY-LEOG | M 31 | -56.000,92 | 5.255.799,45 | Fieberbrunn | |
| 105/17/S057) | (CLY-LEOG | M 31 | -56.349,30 | 5.255.203,18 | Fieberbrunn | |
| 106/17/S058) | (CLY-LEOG | M 31 | -55.659,24 | 5.256.402,41 | Fieberbrunn | |
| 107/17/S059) | (CLY-LEOG | M 31 | -54.949,07 | 5.256.395,71 | Fieberbrunn | |
| 108/17/S060) | (CLY-LEOG | M 31 | -56.342,60 | 5.256.395,71 | Fieberbrunn | |
| 109/17/S061) | (CLY-LEOG | M 31 | -56.690,98 | 5.255.792,75 | Fieberbrunn | |
| 110/17/S062) | (CLY-LEOG | M 31 | -56.697,68 | 5.254.600,21 | Fieberbrunn | |
| 111/17/S063) | (CLY-LEOG | M 31 | -57.052,77 | 5.256.395,72 | Fieberbrunn | |
| 112/17/S064) | (CLY-LEOG | M 31 | -57.052,76 | 5.255.209,88 | Fieberbrunn | |
| 114/17/S066) | (CLY-LEOG | M 31 | -57.401,15 | 5.255.799,44 | Fieberbrunn | |
| 115/17/S067) | (CLY-LEOG | M 31 | -57.401,15 | 5.254.606,91 | Fieberbrunn | |
| 116/17/S068) | (CLY-LEOG | M 31 | -56.697,68 | 5.256.998,68 | Fieberbrunn | |
| 117/17/S069) | (CLY-LEOG | M 31 | -57.749,53 | 5.256.395,71 | Fieberbrunn | |
| 118/17/S070) | (CLY-LEOG | M 31 | -57.749,53 | 5.255.203,18 | Fieberbrunn | |
| 119/17/S071) | (CLY-LEOG | M 31 | -57.052,76 | 5.253.997,24 | Fieberbrunn | |
| 120/17/S072) | (CLY-LEOG | M 31 | -57.401,14 | 5.256.998,68 | Fieberbrunn | |
| 121/17/S073) | (CLY-LEOG | M 31 | -58.097,91 | 5.256.998,68 | Fieberbrunn | |
| 122/17/S074) | (CLY-LEOG | M 31 | -58.459,69 | 5.256.395,71 | Fieberbrunn | |
| 123/17/S075) | (CLY-LEOG | M 31 | -58.091,21 | 5.255.799,44 | Fieberbrunn | |
| 124/17/S076) | (CLY-LEOG | M 31 | -58.452,99 | 5.255.196,47 | Fieberbrunn | |
| 125/17/S077) | (CLY-LEOG | M 31 | -58.801,37 | 5.255.799,45 | Fieberbrunn | |
| 126/17/S078) | (CLY-LEOG | M 31 | -58.097,91 | 5.254.600,20 | Fieberbrunn | |
| 127/17/S079) | (CLY-LEOG | M 31 | -59.143,06 | 5.255.203,17 | Fieberbrunn | |
| 128/17/S080) | (CLY-LEOG | M 31 | -56.697,68 | 5.253.400,97 | Fieberbrunn | |
| 129/17/S081) | (CLY-LEOG | M 31 | -57.394,45 | 5.253.400,97 | Fieberbrunn | |
| 130/17/S082) | (CLY-LEOG | M 31 | -57.749,52 | 5.253.997,24 | Fieberbrunn | |
| 131/17/S083) | (CLY-LEOG | M 31 | -58.091,21 | 5.253.400,97 | Fieberbrunn | |
| 132/17/S084) | (CLY-LEOG | M 31 | -58.446,29 | 5.253.997,24 | Fieberbrunn |
| 133/17/S085) | (CLY-LEOG | M 31 | -58.801,37 | 5.254.593,51 | Fieberbrunn | |
|---|---|---|---|---|---|---|
| 134/17/S086) | (CLY-LEOG | M 31 | -59.149,75 | 5.253.997,24 | Fieberbrunn | |
| 135/17/S087) | (CLY-LEOG | M 31 | -59.498,13 | 5.254.600,21 | Fieberbrunn | |
| 136/17/S088) | (CLY-LEOG | M 31 | -58.801,37 | 5.253.400,97 | Fieberbrunn | |
| 137/17/S089) | (CLY-LEOG | M 31 | -59.498,13 | 5.253.400,97 | Fieberbrunn | Aurach |
| 138/17/S090) | (CLY-LEOG | M 31 | -59.853,22 | 5.253.997,24 | Fieberbrunn | Aurach |
| 139/17/S091) | (CLY-LEOG | M 31 | -59.853,22 | 5.255.203,17 | Fieberbrunn | |
| 140/17/S092) | (CLY-LEOG | M 31 | -59.498,14 | 5.255.799,44 | Fieberbrunn | |
| 141/17/S093) | (CLY-LEOG | M 31 | -55.653,82 | 5.252.803,35 | Fieberbrunn | Saalbach |
| 142/17/S094) | (CLY-LEOG | M 31 | -56.338,36 | 5.252.803,34 | Fieberbrunn | |
| 143/17/S095) | (CLY-LEOG | M 31 | -52.843,60 | 5.256.382,17 | Hochfilzen | Grießen |
| 144/17/S096) | (CLY-LEOG | M 31 | -52.145,01 | 5.256.394,15 | Hochfilzen | Grießen |
| 145/17/S097) | (CLY-LEOG | M 31 | -54.947,60 | 5.252.798,07 | Fieberbrunn | Saalbach |
| 146/17/S098) | (CLY-LEOG | M 31 | -56.000,44 | 5.257.001,49 | Fieberbrunn | |
| 147/17/S099) | (CLY-LEOG | M 31 | -58.450,18 | 5.257.599,58 | Fieberbrunn | |
| 148/17/S1OO) | (CLY-LEOG | M 31 | -57.749,83 | 5.257.599,58 | Fieberbrunn |
| Austrian Tenement Schedule – Kitzbuhel - Clancy First Priority | |||||
|---|---|---|---|---|---|
| Designation | Reference | Coordinates in Metres | Cadastral Municipalities | ||
| Meridian | Y | X | Centre intheCadastralMunicipality | OtherCadastralMunicipalityConcerned | |
| 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 | KitzbühelLand | Fieberbrunn |
| 79/17/T (CLY-KITZ-042) | M 31 | -62.652,41 | 5.257.599,38 | KitzbühelLand | 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 | KitzbühelLand | Fieberbrunn |
| 84/17/T (CLY-KITZ-047) | M 31 | -62.999,30 | 5.256.999,66 | KitzbühelLand | |
| 85/17/T (CLY-KITZ-048) | M 31 | -63.352,08 | 5.257.599,38 | KitzbühelLand | Fieberbrunn |
| 86/17/T (CLY-KITZ-049) | M 31 | -63.352,08 | 5.258.798,82 | KitzbühelLand | 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 | KitzbühelLand | 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 | KitzbühelLand | 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 | KitzbühelLand | 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 | KitzbühelLand | Aurach |
| 97/17/T (CLY-KITZ-060) | M 31 | -63.691,52 | 5.255.801,38 | KitzbühelLand | Aurach |
| 98/17/T (CLY-KITZ-061) | M 31 | -63.340,00 | 5.256.393,75 | KitzbühelLand | Aurach |
| 99/17/T (CLY-KITZ-062) | M 31 | -64.043,03 | 5.256.400,26 | KitzbühelLand | |
| 100/17/T (CLY-KITZ-063) | M 31 | -64.401,05 | 5.255.801,38 | KitzbühelLand | |
| 101/17/T (CLY-KITZ-064) | M 31 | -65.097,57 | 5.255.801,38 | KitzbühelLand | 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 | KitzbühelLand | Aurach |
| 104/17/T (CLY-KITZ-067) | M 31 | -64.739,54 | 5.256.393,75 | KitzbühelLand | |
| 105/17/T (CLY-KITZ-068) | M 31 | -65.442,57 | 5.256.400,25 | KitzbühelLand | Aurach |
| 106/17/T (CLY-KITZ-069) | M 31 | -65.800,59 | 5.255.801,38 | KitzbühelLand | Aurach |
| 107/17/T (CLY-KITZ-070) | M 31 | -66.145,60 | 5.256.400,26 | KitzbühelLand | |
| 108/17/T (CLY-KITZ-071) | M 31 | -63.702,89 | 5.256.997,52 | KitzbühelLand | |
| 109/17/T (CLY-KITZ-072) | M 31 | -64.402,07 | 5.257.002,51 | KitzbühelLand | |
| 110/17/T (CLY-KITZ-073) | M 31 | -65.106,24 | 5.256.997,51 | KitzbühelLand | |
| 111/17/T (CLY-KITZ-074) | M 31 | -64.052,48 | 5.257.596,81 | KitzbühelLand | |
| 112/17/T (CLY-KITZ-075) | M 31 | -64.751,66 | 5.257.596,80 | KitzbühelLand | |
| 113/17/T (CLY-KITZ-076) | M 31 | -63.702,89 | 5.258.206,09 | KitzbühelLand | |
| 114/17/T (CLY-KITZ-077) | M 31 | -64.402,06 | 5.258.201,09 | KitzbühelLand | |
| 115/17/T (CLY-KITZ-078) | M 31 | -65.450,83 | 5.257.596,81 | KitzbühelLand | |
| 116/17/T (CLY-KITZ-079) | M 31 | -65.101,24 | 5.258.201,10 | KitzbühelLand | |
| 117/17/T (CLY-KITZ-080) | M 31 | -64.052,48 | 5.258.805,38 | KitzbühelLand | |
| 118/17/T (CLY-KITZ-081) | M 31 | -64.756,65 | 5.258.800,39 | KitzbühelLand | |
| 119/17/T (CLY-KITZ-082) | M 31 | -65.450,83 | 5.258.800,39 | St. Johann inTirol | Kitzbühel Land |
| 121/17/T (CLY-KITZ-084) | M 31 | -63.698,46 | 5.259.399,70 | KitzbühelLand | Fieberbrunn |
| 122/17/T (CLY-KITZ-085) | M 31 | -64.401,43 | 5.259.399,70 | St. Johann inTirol | Kitzbühel Land |
| 123/17/T (CLY-KITZ-086) | M 31 | -65.100,16 | 5.259.399,70 | St. Johann inTirol | Kitzbühel Land |
| 124/17/T (CLY-KITZ-087) | M 31 | -64.049,95 | 5.260.001,03 | St. Johann inTirol | Kitzbühel Land,Fieberbrunn |
| 125/17/T (CLY-KITZ-088) | M 31 | -64.748,68 | 5.260.001,03 | St. Johann inTirol |
| 126/17/T (CLY-KITZ-089) | M 31 | -65.455,89 | 5.260.001,03 | St. Johann inTirol | |
|---|---|---|---|---|---|
| 127/17/T (CLY-KITZ-090) | M 31 | -64.401,43 | 5.260.606,61 | St. Johann inTirol | |
| 128/17/T (CLY-KITZ-091) | M 31 | -65.104,40 | 5.260.602,37 | St. Johann inTirol | |
| 129/17/T (CLY-KITZ-092) | M 31 | -65.798,89 | 5.260.606,60 | St. Johann inTirol | |
| 130/17/T (CLY-KITZ-093) | M 31 | -65.807,36 | 5.259.399,70 | St. Johann inTirol | Kitzbühel Land |
| 131/17/T (CLY-KITZ-094) | M 31 | -65.450,97 | 5.261.204,52 | St. Johann inTirol | |
| 132/17/T (CLY-KITZ-095) | M 31 | -66.148,70 | 5.261.202,29 | St. Johann inTirol | |
| 133/17/T (CLY-KITZ-096) | M 31 | -66.150,93 | 5.260.003,62 | St. Johann inTirol | |
| 135/17/T (CLY-KITZ-098) | M 31 | -65.801,79 | 5.257.002,86 | KitzbühelLand | |
| 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 | OtherCadastralMunicipalityConcerned | |||
| 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)77/17/S (CLY-LEOG-029) | M 31M 31 | -51.792,84-52.142,55 | 5.253.394,165.254.001,56 | SchwarzleoSchwarzleo | |||
| 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 |
| 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 | OtherCadastralMunicipalityConcerned | |||
| 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 inTirol | Kitzbühel Land | ||
| 136/17/T (CLY-KITZ-099) | M 31 | -66.153,31 | 5.257.600,01 | Kitzbühel Land |
Clancy WA tenement listing
| State | Project | Lease No | Clancy interest | Area (km2) | Note |
|---|---|---|---|---|---|
| WA | HONG KONG | EL 47/3566* | 100% | 40.0 |
Clancy NSW tenement listing
| State | Project | Lease No | Clancy interest | Area (km2) | Note |
|---|---|---|---|---|---|
| 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 earning60% |
| NSW | TRUNDLE | EL 8222 | 100% | 167.2 | |
| NSW | JEMALONG | EL 8502 | 100% | 91.6 |
* Acquired 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 December 2017
| Consolidated statement of cash flows | Current quarter$A'000 | Year to date(6 months)$A'000 | |
|---|---|---|---|
| 1. | Cash flows from operating activities | ||
| 1.1 | Receipts from customers | ||
| 1.2 | Payments for | ||
| (a)exploration & evaluation | (18) | (68) | |
| (b)development | |||
| (c)production | |||
| (d)staff costs | |||
| (e)administration and corporate costs | (102) | (250) | |
| 1.3 | Dividends received (see note 3) | ||
| 1.4 | Interest received | 4 | 8 |
| 1.5 | Interest and other costs of finance paid | ||
| 1.6 | Income taxes paid | ||
| 1.7 | Research and development refunds | ||
| 1.8 | Other (provide details if material) | ||
| 1.9 | Net cash from / (used in) operatingactivities | (116) | (310) |
| 2. | Cash flows from investing activities | ||
|---|---|---|---|
| 2.1 | Payments to acquire: | ||
| (a)property, plant and equipment | |||
| (b)tenements (see item 10) | (7) | (7) | |
| (c)investments | |||
| (d)other non-current assets |
- See chapter 19 for defined terms
1 September 2016 Page 1
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
| Consolidated statement of cash flows | Current quarter$A'000 | Year to date(6 months)$A'000 | |
|---|---|---|---|
| 2.2 | Proceeds from the disposal of: | ||
| (a)property, plant and equipment | |||
| (b)tenements (see item 10) | |||
| (c)investments | |||
| (d)other non-current assets | |||
| 2.3 | Cash flows from loans to other entities | ||
| 2.4 | Dividends received (see note 3) | ||
| 2.5 | Other (provide details if material) | ||
| 2.6 | Net cash from / (used in) investingactivities | (7) | (7) |
| 3. | Cash flows from financing activities | ||
|---|---|---|---|
| 3.1 | Proceeds from issues of shares | ||
| 3.2 | Proceeds from issue of convertible notes | ||
| 3.3 | Proceeds from exercise of share options | 1 | 1 |
| 3.4 | Transaction costs related to issues ofshares, convertible notes or options | ||
| 3.5 | Proceeds from borrowings | ||
| 3.6 | Repayment of borrowings | ||
| 3.7 | Transaction costs related to loans andborrowings | ||
| 3.8 | Dividends paid | ||
| 3.9 | Other (provide details if material) | ||
| 3.10 | Net cash from / (used in) financingactivities | 1 | 1 |
| 4. | Net increase / (decrease) in cash andcash equivalents for the period | ||
|---|---|---|---|
| 4.1 | Cash and cash equivalents at beginning ofperiod | 1,269 | 1,463 |
| 4.2 | Net cash from / (used in) operatingactivities (item 1.9 above) | (116) | (310) |
| 4.3 | Net cash from / (used in) investing activities(item 2.6 above) | (7) | (7) |
| 4.4 | Net cash from / (used in) financing activities(item 3.10 above) | 1 | 1 |
| 4.5 | Effect of movement in exchange rates oncash held | - | - |
| 4.6 | Cash and cash equivalents at end ofperiod | 1,147 | 1,147 |
- See chapter 19 for defined terms
1 September 2016 Page 2
| Reconciliation of cash and cashequivalentsat the end of the quarter (as shown in theconsolidated statement of cash flows) to therelated items in the accounts | Current quarter$A'000 | Previous quarter$A'000 |
|---|---|---|
| Bank balances | 947 | 1,069 |
| Call deposits | 200 | 200 |
| Bank overdrafts | ||
| Other (provide details) | ||
| Cash and cash equivalents at end ofquarter (should equal item 4.6 above) | 1,147 # | 1,269 # |
| # Excludes $130,000 of restricted cash. |
6. Payments to directors of the entity and their associates Current quarter
- 6.1 Aggregate amount of payments to these parties included in item 1.2 59
- 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
Payments to directors/director associates for director fees, accounting and serviced office fees.
7. Payments to related entities of the entity and their associates
- 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
| Current quarter | $A'000 | |||
|---|---|---|---|---|
| $A'000 | |
|---|---|
| - | |
| 8. | Financing facilities available |
|---|---|
| Add notes as necessary for an | |
| understanding of the position |
- 8.1 Loan facilities
- 8.2 Credit standby arrangements
- 8.3 Other (please specify)
| Total facility amountat quarter end$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 | 150 |
| 9.2 | Development | |
| 9.3 | Production | |
| 9.4 | Staff costs | |
| 9.5 | Administration and corporate costs | 120 |
| 9.6 | Other (provide details if material) | |
| 9.7 | Total estimated cash outflows | 270 |
| 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 | EL47/3566WesternAustralia | Acquisition | - | 100% |
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 January 2018 ............... (Director/Company secretary)
Print name: ....Rowan Caren...
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.