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REDIVIUM LIMITED Interim / Quarterly Report 2017
65703_rns_2017-04-30_3a370292-824c-481d-92cf-003e51298164.pdf
Interim / Quarterly Report
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Fast Facts ASX Code: HNR
Capital Structure Shares on issue: 1.68 billion
Market cap: $20.2M (at 1.2c)
Non-Executive Chairman Jonathan Murray
Executive Director Damian Hicks
Non-Executive Directors
Markus Bachmann
Clay Gordon
Amanda Scott
Key Projects
Sole Funded
Forrestania (Nickel & Lithium)
Queen Victoria Rocks (Nickel)
Free-Carried
Forrestania (Gold)
Lake Johnston (Nickel, Gold & Lithium)
During the Quarter (January – March 2017) Hannans:
- QVR (Nickel) released an interpretation of the chemistry and geophysical responses from diamond holes drilled in the 2nd Quarter. Subsequent to the end of the 3rd Quarter, Hannans' consultants have completed an analysis of all recent and historic exploration results, and have planned an additional drill hole (depth ~350 metres) to test the highest priority geophysical target.
- Forrestania (Lithium) completed preparations for, and received all approvals for a 3,000 metres aircore drill program targeting rocks prospective for lithium mineralisation. This program is scheduled to commence mid May 2017.
- Forrestania (Gold) received a scoping study for the Forrestania Gold Project from joint venture partner (Hannans holds a 20% free-carried interest in the project).
- Critical Metals Ltd (in-specie distribution 2016) completed $1.1 million placement, and subsequent to the end of the Quarter completed ~1,750 metres of diamond drilling testing the Varuträsk lithium project in Sweden. For further information please refer to the Critical Metals' web site (criticalmetals.eu) and sign up for email alerts.
- Court Action the Supreme Court of Western Australia found in favour of Hannans, dismissed creditor company Mine Builder Pty Ltd's application and ordered Mine Builder to pay Hannans' costs. Hannans signed a Deed of Acknowledgement with Mine Builder which established an amended payment schedule. Hannans received $240,000 from Mine Builder during the Quarter.
- New opportunity initiated dialogue with Owner of an advanced base metals project located in Western Australia, with a view to understanding the Owner's strategy and determining if there was interest in partnering with Hannans.
- Investor Conference presented at the AMEC Investor Conference in Perth, Western Australia.
During the 4th Quarter (April – June 2017) Hannans expects to:
- QVR (Nickel) drill test the highest priority geophysical target.
- Forrestania (Lithium) drill test rocks prospective for lithium mineralisation.
- Forrestania (Gold) receive RC drilling results from joint venture partner.
- Forrestania (Nickel) receive independently prepared proposal for the next round of exploration activity.
- Critical Metals Ltd (in-specie distribution 2016) hold general meeting of shareholders on 11 May 2017, and lodge a Prospectus in June 2017 to raise capital and list on the ASX.
- New Opportunities continue dialogue with Owner of advanced project and seek out additional high quality projects.
- Cash receive $240,000 from Mine Builder Pty Ltd.
- ATO Class Ruling receive decision from ATO with respect to Hannans' application for concessional tax treatment under the demerger relief provisions of the Income Tax Assessment Act.
Figure 1 Project location map
Figure 2 Black ellipse shows area of interest for lithium exploration, red ellipse shows area of interest for nickel exploration, Hannans holds a 20% free-carried interest in gold rights in its tenure
ASX ANNOUNCEMENTS FOR 3rd QUARTER 2016/2017
| Date | Announcement |
|---|---|
| 27/04/2017 | 3rd Quarter Cashflow Report |
| 12/04/2017 | Forrestania Gold Drilling |
| 31/03/2017 | AMEC Investor Briefing Presentation |
| 31/03/2017 | QVR Nickel Targets |
| 29/03/2017 | Forrestania Lithium |
| 17/03/2017 | Half-Year Financial Report |
| 14/03/2017 | Gold Resource at Forrestania |
| 08/02/2017 | Initial Director's Interest Notice |
| 01/02/2017 | 2nd Quarter Activities Report |
| Table 1: | ASX Announcements since 1 January 2017 |
CONTACT DETAILS
For further information, please contact:
Damian Hicks Executive Director +61 419 930 087 [email protected]
Tel: +61 8 9324 3388 Web: www.hannansreward.com Email: [email protected] Twitter: @hannansreward Facebook: Hannans Reward
ABOUT HANNANS LTD
Hannans Ltd (ASX:HNR) is an exploration company with a focus on nickel, gold and lithium in Western Australia. Hannans' major shareholder is leading Australian specialty minerals company Neometals Ltd. Hannans has a strategic relationship with West Australian based mining services company Australian Contract Mining. Since listing on the ASX in 2003 Hannans has signed agreements with Vale Inco, Rio Tinto, Anglo American, Boliden, Warwick Resources, Cullen Resources, Azure Minerals, Neometals, Tasman Metals, Grängesberg Iron, Lovisagruvan and Montezuma Mining Company. Shareholders at various times since listing have included Rio Tinto, Anglo American, OM Holdings, Craton Capital and BlackRock. For more information, please visit www.hannansreward.com.
APPENDIX A – TENEMENT STATUS FOR 3rd QUARTER 2016/2017
CURRENT TENEMENTS
| Tenement number | Interest 3rdQuarter2016/2017 | Note | Tenement number | Interest 3rdQuarter2016/2017 | Note | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Start | End | Start | End | |||||||
| HANNANS LTD | ||||||||||
| Location: Lake Johnston, Australia | ||||||||||
| E63/1365 | 20% | 20% | 1 | |||||||
| REED EXPLORATION PTY LTD 2 | ||||||||||
| Location: Lake Johnston, Australia | Location: Queen Victoria Rocks, Australia | |||||||||
| E63/1365 | 80% | 80% | 1 | E15/1416 | 100% | 100% | ||||
| Location: Forrestania, Australia | ||||||||||
| E77/2207-I | 100% | 100% | E77/2303 | 100% | 100% | |||||
| E77/2219-I | 100% | 100% | P77/4290 | 100% | 100% | |||||
| E77/2220-I | 100% | 100% | P77/4291 | 100% | 100% | |||||
| E77/2239-I | 100% | 100% |
Note:
1 Hannans Ltd holds 20% interest and Reed Exploration Pty Ltd holds 80% interest.
2 Reed Exploration is a wholly owned subsidiary of Hannans Ltd
TENEMENTS UNDER APPLICATION
None
RELINQUISHED, REDUCED OR LAPSED TENEMENTS
None
COMPLIANCE STATEMENTS
The information in this document that relates to exploration results is based on information compiled by Mr Gordon Kelly, a Competent Person who is a Member of the Australian Institute of Geoscientists. Mr Kelly is a consultant to Hannans Ltd and its subsidiary companies. Mr Kelly has sufficient experience, which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which has been undertaken to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Mr Kelly consents to the inclusion in the report of the matters based on her information in the form and context in which it appears.