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RAREX LIMITED Interim / Quarterly Report 2019
65681_rns_2019-04-29_d4c3e78e-3a5a-4645-b3ec-588a1402343a.pdf
Interim / Quarterly Report
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ASX / MEDIA ANNOUNCEMENT 30 APRIL 2019
QUARTERLY ACTIVITIES AND CASHFLOW REPORTS FOR QUARTER ENDED 31 MARCH 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 limited site and desktop activities including boundary surveying and mapping 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 km2 ).
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.
On 24 January 2019, Pacton announced the finalisation of its initial 2019 exploration program for its Egina Project in the Pilbara which includes the Hong Kong Project. Pacton's initial 2019 Egina exploration will consist of spot sampling of gravels with subsequent follow-up samples based on initial results. Pacton is able to undertake bulk sampling operations as a result of its 2018 strategic alliance with Artemis Resources, which includes access to the Artemis Radio Hill processing plant, now nearing completion.
The initial 2019 Egina exploration program will also include more detailed mapping and sampling of the gold-bearing Mesoarchean basaltic rocks, and their associated erosional gravels.
NSW PROJECTS
The Company did not undertake any material activities during the quarter on its holdings in New South Wales.
LEOGANG PROJECT, AUSTRIA
The Company did not undertake any material activities during the quarter on the Leogang Project, Austria.
CORPORATE ACTIVITIES
On 8 March 2019, the Company announced the resignation of Mr David Lenigas as Executive Chairman with immediate effect. The Company thanks Mr Lenigas for his contribution and wish him every success for the future.
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.
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 2019.
| Designation | Reference | ||
|---|---|---|---|
| Meridian | Cadastral Municipalities | ||
| Centre in the CadastralMunicipality | Other Cadastral MunicipalityConcerned | ||
| 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 |
| 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 | ||||
|---|---|---|---|---|
| Designation | Reference | Cadastral Municipalities | ||
| Meridian | Centre in the Cadastral | Other Cadastral Municipality | ||
| 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
| 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 |
| 121/17/T (CLY-KITZ-084)M 31Kitzbühel LandFieberbrunn122/17/T (CLY-KITZ-085)M 31St. Johann in TirolKitzbühel Land123/17/T (CLY-KITZ-086)M 31St. Johann in TirolKitzbühel Land124/17/T (CLY-KITZ-087)M 31St. Johann in TirolKitzbühel Land, Fieberbrunn125/17/T (CLY-KITZ-088)M 31St. Johann in Tirol126/17/T (CLY-KITZ-089)M 31St. Johann in Tirol127/17/T (CLY-KITZ-090)M 31St. Johann in Tirol128/17/T (CLY-KITZ-091)M 31St. Johann in Tirol129/17/T (CLY-KITZ-092)M 31St. Johann in Tirol130/17/T (CLY-KITZ-093)M 31St. Johann in TirolKitzbühel Land131/17/T (CLY-KITZ-094)M 31St. Johann in Tirol132/17/T (CLY-KITZ-095)M 31St. Johann in Tirol133/17/T (CLY-KITZ-096)M 31St. Johann in Tirol135/17/T (CLY-KITZ-098)M 31Kitzbühel Land137/17/T (CLY-KITZ-100)M 31Aurach | ||
|---|---|---|
| Austrian Tenement Schedule – Leogang - Clancy Second Priority in at least 50% of the licence area | |||
|---|---|---|---|
| Designation | Reference | Cadastral Municipalities | |
| Meridian | Centre in the CadastralMunicipality | Other Cadastral MunicipalityConcerned | |
| 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 | |||
|---|---|---|---|
| Designation | Reference | Cadastral Municipalities | |
| Meridian | Centre in the CadastralMunicipality | Other Cadastral MunicipalityConcerned | |
| 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 |
| StateProjectLease NoClancy interestNote | |
|---|---|
| WAHong KongEL 47/356630% | |
| NSWCondobolinEL 7748100% | |
| NSWGenarenEL 7927100% | |
| NSWCundumbulEL 6661100% | |
| NSWFairholmeEL 6552100% | |
| NSWFairholmeEL 6915100% | |
| NSWOrange EastEL 8442100%Alkane earning 60% | |
| NSWTrundleEL 8222100% | |
| NSWJemalongEL 8502100% |
| Moroccan Tenement Schedule | |||||
|---|---|---|---|---|---|
| Licence Name | Licence No | Clancy interest | Note | ||
| Tizi Belhaj | 234 08 79 | 20% | Earning up to 100% | ||
| Bou Amzil | 233 88 04 | 20% | Earning up to 100% | ||
| Imdere | 233 94 05 | 20% | Earning up to 100% | ||
| Bou Amzil Extension | PR 384 22 26 | - | 100% on completion |
During the quarter, the Company did not change its beneficial interest in, acquire or dispose of any tenements.
+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 2019
| Consolidated statement of cash flows | Current quarter$A'000 | Year to date(9 months)$A'000 | |
|---|---|---|---|
| 1. | Cash flows from operating activities | ||
| 1.1 | Receipts from customers | ||
| 1.2 | Payments for | ||
| (a)exploration & evaluation | (138) | (460) | |
| (b)development | |||
| (c)production | |||
| (d)staff costs | (47) | (155) | |
| (e)administration and corporate costs | (199) | (481) | |
| 1.3 | Dividends received (see note 3) | ||
| 1.4 | Interest received | - | 2 |
| 1.5 | Interest and other costs of finance paid | ||
| 1.6 | Income taxes paid | ||
| 1.7 | Research and development refunds | ||
| 1.8 | Other (provide details if material) | ||
| 1.9 | Net cash from / (used in) operatingactivities | (384) | (1,094) |
| 2. | Cash flows from investing activities | |
|---|---|---|
| 2.1 | Payments to acquire: | |
| (a)property, plant and equipment | ||
| (b)tenements (see item 10) | - | |
| (c)investments | ||
| (d)other non-current assets |
- See chapter 19 for defined terms
1 September 2016 Page 1
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
| Consolidated statement of cash flows | Current quarter$A'000 | Year to date(9 months)$A'000 | |
|---|---|---|---|
| 2.2 | Proceeds from the disposal of: | ||
| (a)property, plant and equipment | 30 | 30 | |
| (b)tenements (see item 10) | - | 208 | |
| (c)investments | |||
| (d)other non-current assets | |||
| 2.3 | Cash flows from loans to other entities | ||
| 2.4 | Dividends received (see note 3) | ||
| 2.5 | Other – payment of security deposits | (90) | (25) |
| – release of restricted cash | 135 | 135 | |
| 2.6 | Net cash from / (used in) investingactivities | 75 | 101 |
| 3. | Cash flows from financing activities | ||
|---|---|---|---|
| 3.1 | Proceeds from issues of shares | - | 750 |
| 3.2 | Proceeds from issue of convertible notes | ||
| 3.3 | Proceeds from exercise of share options | ||
| 3.4 | Transaction costs related to issues ofshares, convertible notes or options | - | (56) |
| 3.5 | Proceeds from borrowings | ||
| 3.6 | Repayment of borrowings | ||
| 3.7 | Transaction costs related to loans andborrowings | ||
| 3.8 | Dividends paid | ||
| 3.9 | Other (provide details if material) | ||
| 3.10 | Net cash from / (used in) financingactivities | - | 694 |
| 4. | Net increase / (decrease) in cash andcash equivalents for the period | ||
|---|---|---|---|
| 4.1 | Cash and cash equivalents at beginning ofperiod | 480 | 470 |
| 4.2 | Net cash from / (used in) operatingactivities (item 1.9 above) | (384) | (1,094) |
| 4.3 | Net cash from / (used in) investing activities(item 2.6 above) | 75 | 101 |
| 4.4 | Net cash from / (used in) financing activities(item 3.10 above) | - | 694 |
| 4.5 | Effect of movement in exchange rates oncash held | - | - |
| 4.6 | Cash and cash equivalents at end ofperiod | 171 | 171 |
- See chapter 19 for defined terms
1 September 2016 Page 2
| 5. | Reconciliation of cash and cashequivalentsat the end of the quarter (as shown in theconsolidated statement of cash flows) to therelated items in the accounts | Current quarter$A'000 | Previous quarter$A'000 |
|---|---|---|---|
| 5.1 | Bank balances | 171 | 480 |
| 5.2 | Call deposits | ||
| 5.3 | Bank overdrafts | ||
| 5.4 | Other (provide details) | ||
| 5.5 | Cash and cash equivalents at end ofquarter (should equal item 4.6 above) | 171 | 480 |
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 32
- 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 and legal 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 | 96 |
| 9.2 | Development | - |
| 9.3 | Production | - |
| 9.4 | Staff costs | 27 |
| 9.5 | Administration and corporate costs | 99 |
| 9.6 | Other | - |
| 9.7 | Total estimated cash outflows | 222 |
| 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 |
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 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.