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RAREX LIMITED — Interim / Quarterly Report 2019
Jul 29, 2019
65681_rns_2019-07-29_af78dd35-ace0-4780-869f-9f2f38cc5ae4.pdf
Interim / Quarterly Report
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ASX / MEDIA ANNOUNCEMENT
30 JULY 2019
==> picture [279 x 66] intentionally omitted <==
QUARTERLY ACTIVITIES AND CASHFLOW REPORTS FOR QUARTER ENDED 30 JUNE 2019
COBALT PROJECT, MOROCCO
Clancy Exploration Limited (ASX: CLY) ( Clancy or the Company ) announced on 25 October 2018 that it had completed Stage 1 of its acquisition of Atlas Managem S.A.R.L ( Atlas Managem ) by acquiring 20% of the fully paid issued capital in Atlas Managem ( 20% Interest ). All details of the acquisition have been previously disclosed, and no new terms have been incorporated. Clancy can acquire up to a 100% indirect interest in the 3 licences in Morocco through a staged acquisition of Atlas Managem ( Acquisition ).
With consideration to the Company’s cash position and the current cobalt price, the Company completed minimal site and desktop activities during the quarter.
The Board is currently reviewing its strategy and options for the Morocco Cobalt Project and at this point, has elected not to progress with Stage 2 of the acquisition of Atlas Managem.
HONG KONG GOLD PROJECT, PILBARA REGION, WESTERN AUSTRALIA
On 7 December 2018, Clancy announced the completion of an agreement with Canadian listed Pacton Gold Inc (TSXV: PAC) ( Pacton ) which provided for Pacton to acquire a 70% equity interest in Clancy’s Hong Kong Project in the Pilbara (Exploration Licence E47/3566 covering 40.15 km[2] ).
Under the agreement, Pacton will act as operator of the Hong Kong Project and must spend a minimum of CAD$500,000 on Hong Kong within two years of completion of the transaction. Clancy will be free carried with respect to joint venture expenditure until a decision to mine is made unanimously by both parties.
NSW PROJECTS
The Company did not undertake any material activities during the quarter on its holdings in New South Wales. The Company advises that it allowed EL7927 to lapse upon renewal during the quarter.
LEOGANG PROJECT, AUSTRIA
The Company did not undertake any material activities during the quarter on the Leogang Project, Austria.
CORPORATE ACTIVITIES
Due to the current cash position of the Company, the Directors, Company Secretary and key service providers have agreed to accrue their fees to conserve the cash reserves of the Company.
On 5 July 2019, the Company lodged a Notice of General Meeting with the ASX for a meeting of shareholders to be held on 2 August 2019 to consider a consolidation of capital (25 to 1) and the change of the Company’s name to Sagon Resources Limited. The Company will announce the results immediately following the meeting.
Clancy Exploration Limited www.clancyexploration.com Suite 23, 513 Hay Street, Subiaco WA 6008 Ph: 08 6143 6720 ACN: 105 578 756
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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 30 June 2019.
| Austrian Tenement Schedule – Leogang - Clancy First Priority | Austrian Tenement Schedule – Leogang - Clancy First Priority | Austrian Tenement Schedule – Leogang - Clancy First Priority | Austrian Tenement Schedule – Leogang - Clancy First Priority |
|---|---|---|---|
| Designation | Reference | Cadastral Municipalities | |
| Meridian | Centre in the Cadastral Municipality |
Other Cadastral Municipality Concerned |
|
| 51/17/S(CLY-LEOG-003) | M 31 | Schwarzleo | |
| 56/17/S(CLY-LEOG-008) | M 31 | Schwarzleo | Sonnberg,Pirzbichl |
| 57/17/S(CLY-LEOG-009) | M 31 | Schwarzleo | Grießen |
| 58/17/S(CLY-LEOG-010) | M 31 | Schwarzleo | Grießen |
| 64/17/S(CLY-LEOG-016) | M 31 | Schwarzleo | Grießen |
| 68/17/S(CLY-LEOG-020) | M 31 | Grießen | |
| 71/17/S(CLY-LEOG-023) | M 31 | Grießen | |
| 74/17/S(CLY-LEOG-026) | M 31 | Grießen | Hoch filzen |
| 78/17/S(CLY-LEOG-030) | M 31 | Schwarzleo | |
| 79/17/S(CLY-LEOG-031) | M 31 | Schwarzleo | Saalbach |
| 80/17/S(CLY-LEOG-032) | M 31 | Schwarzleo | Saalbach |
| 81/17/S(CLY-LEOG-033) | M 31 | Schwarzleo | Grießen,Hoch filzen,Fieberbrunn |
| 82/17/S(CLY-LEOG-034) | M 31 | Schwarzleo | Saalbach |
| 83/17/S(CLY-LEOG-035) | M 31 | Schwarzleo | Fieberbrunn |
| 84/17/S(CLY-LEOG-036) | M 31 | Schwarzleo | Fieberbrunn,Saalbach |
| 85/17/S(CLY-LEOG-037) | M 31 | Fieberbrunn | |
| 86/17/S(CLY-LEOG-038) | M 31 | Fieberbrunn | Hoch filzen |
| 87/17/S(CLY-LEOG-039) | M 31 | Fieberbrunn | |
| 88/17/S(CLY-LEOG-040) | M 31 | Fieberbrunn | |
| 89/17/S(CLY-LEOG-041) | M 31 | Fieberbrunn | |
| 90/17/S(CLY-LEOG-042) | M 31 | Fieberbrunn | Saalbach |
| 91/17/S(CLY-LEOG-043) | M 31 | Fieberbrunn | |
| 92/17/S(CLY-LEOG-044) | M 31 | Fieberbrunn | |
| 93/17/S(CLY-LEOG-045) | M 31 | Fieberbrunn | |
| 94/17/S(CLY-LEOG-046) | M 31 | Fieberbrunn | |
| 95/17/S(CLY-LEOG-047) | M 31 | Fieberbrunn | Saalbach |
| 96/17/S(CLY-LEOG-048) | M 31 | Fieberbrunn | |
| 98/17/S(CLY-LEOG-050) | M 31 | Fieberbrunn | |
| 99/17/S(CLY-LEOG-051) | M 31 | Fieberbrunn | Saalbach |
| 101/17/S(CLY-LEOG-053) | M 31 | Fieberbrunn | |
| 103/17/S(CLY-LEOG-055) | M 31 | Fieberbrunn | |
| 104/17/S(CLY-LEOG-056) | M 31 | Fieberbrunn | |
| 105/17/S(CLY-LEOG-057) | M 31 | Fieberbrunn | |
| 106/17/S(CLY-LEOG-058) | M 31 | Fieberbrunn | |
| 107/17/S(CLY-LEOG-059) | M 31 | Fieberbrunn | |
| 108/17/S(CLY-LEOG-060) | M 31 | Fieberbrunn | |
| 109/17/S(CLY-LEOG-061) | M 31 | Fieberbrunn | |
| 110/17/S(CLY-LEOG-062) | M 31 | Fieberbrunn | |
| 111/17/S(CLY-LEOG-063) | M 31 | Fieberbrunn | |
| 112/17/S(CLY-LEOG-064) | M 31 | Fieberbrunn | |
| 114/17/S(CLY-LEOG-066) | M 31 | Fieberbrunn | |
| 115/17/S(CLY-LEOG-067) | M 31 | Fieberbrunn | |
| 116/17/S(CLY-LEOG-068) | M 31 | Fieberbrunn | |
| 117/17/S(CLY-LEOG-069) | M 31 | Fieberbrunn | |
| 118/17/S(CLY-LEOG-070) | M 31 | Fieberbrunn | |
| 119/17/S(CLY-LEOG-071) | M 31 | Fieberbrunn | |
| 120/17/S(CLY-LEOG-072) | M 31 | Fieberbrunn | |
| 121/17/S(CLY-LEOG-073) | M 31 | Fieberbrunn |
Clancy Exploration Limited www.clancyexploration.com Suite 23, 513 Hay Street, Subiaco WA 6008 Ph: 08 6143 6720 ACN: 105 578 756
==> picture [279 x 66] intentionally omitted <==
| 122/17/S(CLY-LEOG-074) | M 31 | Fieberbrunn | |
|---|---|---|---|
| 123/17/S(CLY-LEOG-075) | M 31 | Fieberbrunn | |
| 124/17/S(CLY-LEOG-076) | M 31 | Fieberbrunn | |
| 125/17/S(CLY-LEOG-077) | M 31 | Fieberbrunn | |
| 126/17/S(CLY-LEOG-078) | M 31 | Fieberbrunn | |
| 127/17/S(CLY-LEOG-079) | M 31 | Fieberbrunn | |
| 128/17/S(CLY-LEOG-080) | M 31 | Fieberbrunn | |
| 129/17/S(CLY-LEOG-081) | M 31 | Fieberbrunn | |
| 130/17/S(CLY-LEOG-082) | M 31 | Fieberbrunn | |
| 131/17/S(CLY-LEOG-083) | M 31 | Fieberbrunn | |
| 132/17/S(CLY-LEOG-084) | M 31 | Fieberbrunn | |
| 133/17/S(CLY-LEOG-085) | M 31 | Fieberbrunn | |
| 134/17/S(CLY-LEOG-086) | M 31 | Fieberbrunn | |
| 135/17/S(CLY-LEOG-087) | M 31 | Fieberbrunn | |
| 136/17/S(CLY-LEOG-088) | M 31 | Fieberbrunn | |
| 137/17/S(CLY-LEOG-089) | M 31 | Fieberbrunn | Aurach |
| 138/17/S(CLY-LEOG-090) | M 31 | Fieberbrunn | Aurach |
| 139/17/S(CLY-LEOG-091) | M 31 | Fieberbrunn | |
| 140/17/S(CLY-LEOG-092) | M 31 | Fieberbrunn | |
| 141/17/S(CLY-LEOG-093) | M 31 | Fieberbrunn | Saalbach |
| 142/17/S(CLY-LEOG-094) | M 31 | Fieberbrunn | |
| 143/17/S(CLY-LEOG-095) | M 31 | Hochfilzen | Grießen |
| 144/17/S(CLY-LEOG-096) | M 31 | Hochfilzen | Grießen |
| 145/17/S(CLY-LEOG-097) | M 31 | Fieberbrunn | Saalbach |
| 146/17/S(CLY-LEOG-098) | M 31 | Fieberbrunn | |
| 147/17/S(CLY-LEOG-099) | M 31 | Fieberbrunn | |
| 148/17/S(CLY-LEOG-1OO) | M 31 | Fieberbrunn |
| Austrian Tenement Schedule – Kitzbuhel - Clancy First Priority | Austrian Tenement Schedule – Kitzbuhel - Clancy First Priority | Austrian Tenement Schedule – Kitzbuhel - Clancy First Priority | Austrian Tenement Schedule – Kitzbuhel - Clancy First Priority |
|---|---|---|---|
| Designation | Reference | Cadastral Municipalities | |
| Meridian | Centre in the Cadastral Municipality |
Other Cadastral Municipality Concerned |
|
| 38/17/T(CLY- KITZ-001) | M 31 | Fieberbrunn | |
| 39/17/T(CLY- KITZ -002) | M 31 | Fieberbrunn | |
| 40/17/T(CLY- KITZ -003) | M 31 | Fieberbrunn | |
| 41/17/T(CLY- KITZ -004) | M 31 | Fieberbrunn | |
| 42/17/T(CLY- KITZ-005) | M 31 | Fieberbrunn | |
| 43/17/T(CLY- KITZ-006) | M 31 | Fieberbrunn | |
| 44/17/T(CLY- KITZ -007) | M 31 | Fieberbrunn | |
| 45/17/T(CLY- KITZ -008) | M 31 | Fieberbrunn | |
| 46/17/T(CLY- KITZ -009) | M 31 | Fieberbrunn | |
| 47/17/T(CLY- KITZ-010) | M 31 | Fieberbrunn | |
| 48/17/T(CLY- KITZ -011) | M 31 | Fieberbrunn | |
| 49/17/T(CLY- KITZ-012) | M 31 | Fieberbrunn | |
| 50/17/T(CLY- KITZ-013) | M 31 | Fieberbrunn | |
| 51/17/T(CLY- KITZ-014) | M 31 | Fieberbrunn | |
| 52/17/T(CLY- KITZ -015) | M 31 | Fieberbrunn | |
| 53/17/T(CLY- KITZ -016) | M 31 | Fieberbrunn | |
| 54/17/T(CLY- KITZ -017) | M 31 | Fieberbrunn | |
| 55/17/T(CLY- KITZ -018) | M 31 | Fieberbrunn | |
| 56/17/T(CLY- KITZ-019) | M 31 | Fieberbrunn | |
| 57/17/T(CLY- KITZ-020) | M 31 | Fieberbrunn | |
| 58/17/T(CLY- KITZ-021) | M 31 | Fieberbrunn | |
| 59/17/T(CLY- KITZ-022) | M 31 | Fieberbrunn | |
| 60/17/T(CLY- KZTZ-023) | M 31 | Fieberbrunn | Aurach |
| 61/17/T(CLY- KITZ-024) | M 31 | Fieberbrunn | Aurach |
| 62/17/T(CLY-KITZ-025) | M 31 | Fieberbrunn | Aurach |
Clancy Exploration Limited www.clancyexploration.com
Suite 23, 513 Hay Street, Subiaco WA 6008 Ph: 08 6143 6720 ACN: 105 578 756
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| 63/17/T(CLY-KITZ-026) | M 31 | Fieberbrunn | Aurach |
|---|---|---|---|
| 64/17/T(CLY-KITZ-027) | M 31 | Fieberbrunn | Aurach |
| 65/17/T(CLY-KITZ-028) | M 31 | Fieberbrunn | |
| 66/17/T(CLY-KITZ-029) | M 31 | Fieberbrunn | |
| 67/17/T(CLY-KITZ-030) | M 31 | Fieberbrunn | |
| 68/17/T(CLY-KITZ-031) | M 31 | Fieberbrunn | Aurach |
| 69/17/T(CLY-KITZ-032) | M 31 | Fieberbrunn | Aurach |
| 70/17/T(CLY-KITZ-033) | M 31 | Aurach | |
| 71/17/T(CLY-KITZ-034) | M 31 | Fieberbrunn | |
| 72/17/T(CLY-KITZ-035) | M 31 | Fieberbrunn | |
| 73/17/T(CLY-KITZ-036) | M 31 | Fieberbrunn | |
| 74/17/T(CLY-KITZ-037) | M 31 | Fieberbrunn | |
| 75/17/T(CLY-KITZ-038) | M 31 | Fieberbrunn | |
| 76/17/T(CLY-KITZ-039) | M 31 | Fieberbrunn | |
| 77/17/T(CLY-KITZ-040) | M 31 | Fieberbrunn | |
| 78/17/T(CLY-KITZ-041) | M 31 | Kitzbühel Land | Fieberbrunn |
| 79/17/T(CLY-KITZ-042) | M 31 | Kitzbühel Land | Fieberbrunn |
| 80/17/T(CLY-KITZ-043) | M 31 | Fieberbrunn | |
| 81/17/T(CLY-KITZ-044) | M 31 | Fieberbrunn | |
| 82/17/T(CLY-KITZ-045) | M 31 | Fieberbrunn | |
| 83/17/T(CLY-KITZ-046) | M 31 | Kitzbühel Land | Fieberbrunn |
| 84/17/T(CLY-KITZ-047) | M 31 | Kitzbühel Land | |
| 85/17/T(CLY-KITZ-048) | M 31 | Kitzbühel Land | Fieberbrunn |
| 86/17/T(CLY-KITZ-049) | M 31 | Kitzbühel Land | Fieberbrunn |
| 87/17/T(CLY-KITZ-050) | M 31 | Fieberbrunn | |
| 88/17/T(CLY-KITZ-051) | M 31 | Kitzbühel Land | Fieberbrunn,Aurach |
| 89/17/T(CLY-KITZ-052) | M 31 | Aurach | |
| 90/17/T(CLY-KITZ-053) | M 31 | Aurach | |
| 91/17/T(CLY-KITZ-054) | M 31 | Kitzbühel Land | Aurach |
| 92/17/T(CLY-KITZ-055) | M 31 | Aurach | |
| 93/17/T(CLY-KITZ-056) | M 31 | Aurach | |
| 94/17/T(CLY-KITZ-057) | M 31 | Kitzbühel Land | Aurach |
| 95/17/T(CLY-KITZ-058) | M 31 | Aurach | |
| 96/17/T(CLY-KITZ-059) | M 31 | Kitzbühel Land | Aurach |
| 97/17/T(CLY-KITZ-060) | M 31 | Kitzbühel Land | Aurach |
| 98/17/T(CLY-KITZ-061) | M 31 | Kitzbühel Land | Aurach |
| 99/17/T(CLY-KITZ-062) | M 31 | Kitzbühel Land | |
| 100/17/T(CLY-KITZ-063) | M 31 | Kitzbühel Land | |
| 101/17/T(CLY-KITZ-064) | M 31 | Kitzbühel Land | Aurach |
| 102/17/T(CLY-KITZ-065) | M 31 | Aurach | |
| 103/17/T(CLY-KITZ-066) | M 31 | Kitzbühel Land | Aurach |
| 104/17/T(CLY-KITZ-067) | M 31 | Kitzbühel Land | |
| 105/17/T(CLY-KITZ-068) | M 31 | Kitzbühel Land | Aurach |
| 106/17/T(CLY-KITZ-069) | M 31 | Kitzbühel Land | Aurach |
| 107/17/T(CLY-KITZ-070) | M 31 | Kitzbühel Land | |
| 108/17/T(CLY-KITZ-071) | M 31 | Kitzbühel Land | |
| 109/17/T(CLY-KITZ-072) | M 31 | Kitzbühel Land | |
| 110/17/T(CLY-KITZ-073) | M 31 | Kitzbühel Land | |
| 111/17/T(CLY-KITZ-074) | M 31 | Kitzbühel Land | |
| 112/17/T(CLY-KITZ-075) | M 31 | Kitzbühel Land | |
| 113/17/T(CLY-KITZ-076) | M 31 | Kitzbühel Land | |
| 114/17/T(CLY-KITZ-077) | M 31 | Kitzbühel Land | |
| 115/17/T(CLY-KITZ-078) | M 31 | Kitzbühel Land | |
| 116/17/T(CLY-KITZ-079) | M 31 | Kitzbühel Land | |
| 117/17/T(CLY-KITZ-080) | M 31 | Kitzbühel Land | |
| 118/17/T(CLY-KITZ-081) | M 31 | Kitzbühel Land | |
| 119/17/T(CLY-KITZ-082) | M 31 | St. Johann in Tirol | Kitzbühel Land |
Clancy Exploration Limited www.clancyexploration.com Suite 23, 513 Hay Street, Subiaco WA 6008 Ph: 08 6143 6720 ACN: 105 578 756
==> picture [279 x 66] intentionally omitted <==
| 121/17/T(CLY-KITZ-084) | M 31 | Kitzbühel Land | Fieberbrunn |
|---|---|---|---|
| 122/17/T(CLY-KITZ-085) | M 31 | St. Johann in Tirol | Kitzbühel Land |
| 123/17/T(CLY-KITZ-086) | M 31 | St. Johann in Tirol | Kitzbühel Land |
| 124/17/T(CLY-KITZ-087) | M 31 | St. Johann in Tirol | Kitzbühel Land,Fieberbrunn |
| 125/17/T(CLY-KITZ-088) | M 31 | St. Johann in Tirol | |
| 126/17/T(CLY-KITZ-089) | M 31 | St. Johann in Tirol | |
| 127/17/T(CLY-KITZ-090) | M 31 | St. Johann in Tirol | |
| 128/17/T(CLY-KITZ-091) | M 31 | St. Johann in Tirol | |
| 129/17/T(CLY-KITZ-092) | M 31 | St. Johann in Tirol | |
| 130/17/T(CLY-KITZ-093) | M 31 | St. Johann in Tirol | Kitzbühel Land |
| 131/17/T(CLY-KITZ-094) | M 31 | St. Johann in Tirol | |
| 132/17/T(CLY-KITZ-095) | M 31 | St. Johann in Tirol | |
| 133/17/T(CLY-KITZ-096) | M 31 | St. Johann in Tirol | |
| 135/17/T(CLY-KITZ-098) | M 31 | Kitzbühel Land | |
| 137/17/T(CLY-KITZ-100) | M 31 | Aurach |
| Austrian Tenement Schedule – Leogang - Clancy Second Priority in at least 50% of the licence area | Austrian Tenement Schedule – Leogang - Clancy Second Priority in at least 50% of the licence area | Austrian Tenement Schedule – Leogang - Clancy Second Priority in at least 50% of the licence area | Austrian Tenement Schedule – Leogang - Clancy Second Priority in at least 50% of the licence area |
|---|---|---|---|
| Designation | Reference | Cadastral Municipalities | |
| Meridian | Centre in the Cadastral Municipality |
Other Cadastral Municipality Concerned |
|
| 49/17/S(CLY-LEOG-001) | M 31 | Schwarzleo | Sonnberg |
| 50/17/S(CLY-LEOG-002) | M 31 | Schwarzleo | |
| 52/17/S(CLY-LEOG-004) | M 31 | Schwarzleo | |
| 53/17/S(CLY-LEOG-005) | M 31 | Schwarzleo | |
| 54/17/S(CLY-LEOG-006) | M 31 | Schwarzleo | |
| 55/17/S(CLY-LEOG-007) | M 31 | Schwarzleo | |
| 59/17/S(CLY-LEOG-011) | M 31 | Schwarzleo | |
| 60/17/S(CLY-LEOG-012) | M 31 | Schwarzleo | |
| 61/17/S(CLY-LEOG-013) | M 31 | Schwarzleo | Grießen |
| 62/17/S(CLY-LEOG-014) | M 31 | Schwarzleo | |
| 63/17/S(CLY-LEOG-015) | M 31 | Schwarzleo | |
| 65/17/S(CLY-LEOG-017) | M 31 | Schwarzleo | Grießen |
| 66/17/S(CLY-LEOG-018) | M 31 | Schwarzleo | |
| 67/17/S(CLY-LEOG-019) | M 31 | Schwarzleo | |
| 69/17/S(CLY-LEOG-021) | M 31 | Schwarzleo | |
| 70/17/S(CLY-LEOG-022) | M 31 | Schwarzleo | Grießen |
| 72/17/S(CLY-LEOG-024) | M 31 | Schwarzleo | |
| 73/17/S(CLY-LEOG-025) | M 31 | Schwarzleo | Grießen |
| 75/17/S(CLY-LEOG-027) | M 31 | Schwarzleo | |
| 76/17/S(CLY-LEOG-028) | M 31 | Schwarzleo | |
| 77/17/S(CLY-LEOG-029) | M 31 | Schwarzleo | |
| 97/17/S(CLY-LEOG-049) | M 31 | Fieberbrunn | |
| 100/17/S(CLY-LEOG-052) | M 31 | Fieberbrunn | |
| 102/17/S(CLY-LEOG-054) | M 31 | Fieberbrunn | |
| 113/17/S(CLY-LEOG-065) | M 31 | Fieberbrunn |
| Austrian Tenement Schedule – Kitzbuhel - Clancy Second Priority in at least 50% of licence area | Austrian Tenement Schedule – Kitzbuhel - Clancy Second Priority in at least 50% of licence area | Austrian Tenement Schedule – Kitzbuhel - Clancy Second Priority in at least 50% of licence area | Austrian Tenement Schedule – Kitzbuhel - Clancy Second Priority in at least 50% of licence area | |
|---|---|---|---|---|
| Designation | Reference | Cadastral Municipalities | ||
| Meridian | Centre in the Cadastral Municipality |
Other Cadastral Municipality Concerned |
||
| 120/17/T(CLY-KITZ-083) | M 31 | Kitzbühel Land | ||
| 134/17/T(CLY-KITZ-097) | M 31 | St. Johann in Tirol | Kitzbühel Land | |
| 136/17/T(CLY-KITZ-099) | M 31 | Kitzbühel Land | ||
Clancy Exploration Limited www.clancyexploration.com Suite 23, 513 Hay Street, Subiaco WA 6008 Ph: 08 6143 6720 ACN: 105 578 756
==> picture [279 x 66] intentionally omitted <==
| Australian Tenement Schedule | |||||
| State | Project | Lease No | Clancy interest | Note | |
| WA | HongKong | EL 47/3566 | 30% | ||
| NSW | Condobolin | EL 7748 | 100% | ||
| NSW | Cundumbul | EL 6661 | 100% | ||
| NSW | Fairholme | EL 6552 | 100% | ||
| NSW | Fairholme | EL 6915 | 100% | ||
| NSW | Orange East | EL 8442 | 100% | Alkane earning60% | |
| NSW | Trundle | EL 8222 | 100% | ||
| NSW | Jemalong | EL 8502 | 100% |
| Moroccan Tenement Schedule | Moroccan Tenement Schedule | ||
|---|---|---|---|
| Licence Name | Licence No | Clancy interest | Note |
| Tizi Belhaj | 234 08 79 | 20% | Earningupto 100% |
| Bou Amzil | 233 88 04 | 20% | Earningupto 100% |
| Imdere | 233 94 05 | 20% | Earningupto 100% |
| Bou Amzil Extension | PR 384 22 26 | - | 100% on completion |
During the quarter, the Company did not change its beneficial interest in or acquire any tenements. The Company advises that its interest in EL 7927 in New South Wales lapsed.
Clancy Exploration Limited www.clancyexploration.com Suite 23, 513 Hay Street, Subiaco WA 6008 Ph: 08 6143 6720 ACN: 105 578 756
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
Clancy Exploration Limited
| Clancy Exploration Limited | |
|---|---|
| ABN 65 105 578 756 |
Quarter ended (“current quarter”) |
| 65 105 578 756 | 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 |
(73) (3) (26) 1 |
(533) (158) (507) 3 |
| (101) | (1,195) | |
| 2. Cash flows from investing activities 2.1 Payments to acquire: (a) property, plant and equipment (b) tenements (see item 10) (c) investments (d) other non-current assets |
- | (247) |
- See chapter 19 for defined terms 1 September 2016
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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 |
|---|---|---|
| 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 – payment of security deposits – release of restricted cash 2.6 Net cash from / (used in) investing activities |
- - 357 - - |
30 208 357 (25) 135 |
| 357 | 458 | |
| 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 |
- - |
750 (56) |
| - | 694 | |
| 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 |
171 (101) 357 - - |
470 (1,195) 458 694 - |
| 427 | 427 |
- See chapter 19 for defined terms
1 September 2016
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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) |
427 | 171 |
| 427 | 171 |
|
| 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 - 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 |
||
| - | ||
| - |
Payments to directors/director associates for director fees and legal fees.
| 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
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Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
| 8. Financing facilities available Add notes as necessary for an understanding of the position Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 8.1 Loan facilities 8.2 Credit standby arrangements 8.3 Other (please specify) 8.4 Include below a description of each facility above, including the lender, interest rate and whether it is secured or unsecured. If any additional facilities have been entered into or are proposed to be entered into after quarter end, include details of those facilities as well. |
Total facility amount at quarter end $A’000 |
Amount drawn at quarter end $A’000 |
|
|---|---|---|---|
| 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 9.7 Total estimated cash outflows |
19 - - - 48 - |
| 67 |
| 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 |
EL7927 | Lapsed | 100% | 0% |
| 10.2 Interests in mining tenements and petroleum tenements acquired or increased |
- See chapter 19 for defined terms 1 September 2016
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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.
Sign here:
Date: 30 July 2019
…………………………………
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.
-
See chapter 19 for defined terms 1 September 2016
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