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SUNSTONE METALS LTD — Interim / Quarterly Report 2015
Oct 20, 2015
65870_rns_2015-10-20_df4fb532-d496-4825-971b-6d85f72d37de.pdf
Interim / Quarterly Report
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21 October 2015

Viscaria Copper Project, Sweden (Avalon - 100%)
- A total of 4 diamond drill holes (including a wedge hole) were completed at Viscaria D Zone. Assays were returned for 6 holes, delivering very encouraging, and locally high grade, copper assay results, and representing a very significant development in the growth of the D Zone orebody;
- Assay results returned elevated copper values in diamond drill hole NDD 001 at the Nihka Iron Oxide Copper Prospect, which intersected mineralised, altered and brecciated rocks consistent with an iron oxide copper system;
- Drilling at West Nukutus has identified an iron-oxide and shear related copper mineralised system that requires further exploration;
- The Viscaria Copper Project Environmental and Social Impact Assessment (ESIA) process is progressing to plan;
- Scoping Study is on schedule and is to be released in the December Quarter.
Corporate Highlights
- A$1.25 million in cash at 30 September 2015;
- Rights Issue of 1 share for every 2 held announced subsequent to the end of the quarter;
- Placement of approximately $0.4M to existing major shareholders also announced in conjunction with the Rights Issue.


Exploration and Development Activities
Field activities are well underway on the company's flagship Viscaria Copper Project. Drilling at D Zone has extended the known mineralisation by over 200m at depth, and has defined higher grade and thicker zones. The results from hole VDD 193 are very encouraging and are demonstrating that the D Zone orebody is improving at depth.
Geochemical surveys followed by drill testing over the Nihka and West Nukutus targets have generated significant copper targets that require further follow-up. Copper mineralisation has been identified in drilling at both targets.
Viscaria D Zone drilling
Assay results from six diamond drill holes VDD 187, 188, 189, 190, 192 and 193 were received during the quarter and significant intersections include:
- VDD187 17.9m at 1.2% Cu from 252.6m including;
- o 6.2m at 1.7% Cu from 257.4m.
- VDD188 6.85m at 0.7% Cu from 270.7m, including; o 1.4m at 1.5% Cu from 271.7m.
- VDD189 10.3m at 1.3% Cu from 500m including;
- o 4.6m at 2.0% Cu from 501m.
- VDD190 26.5m at 1.1% Cu from 532.6m including;
- o 8.4m at 1.7% Cu from 536.8m.
- VDD192 21.8m at 1.4% Cu from 471.2m including;
- o 7.4m at 1.9% Cu from 471.7; and
- o 6.5m @ 1.5% Cu from 486.6m.
- VDD193 26.7m at 2.6% Cu from 564.6m including;
- o 6.6m at 3.5% Cu from 565.4m; and
- o 5.2m at 2.9% Cu from 573.0m, and
- o 6.9m at 2.6% Cu from 584.4m.
Drill holes VDD 187 and 188 were targeted to define shallower high grade copper zones and zones that could link other isolated high grade zones as development plans are advanced. In long section (figure 3) VDD 187 results support the interpretation that the higher grade intersections in VDD 159 and VDD 156 can be linked through a south plunging zone of higher grade mineralisation. VDD 159 intersected 12m at 1.6% Cu, including 4m at 3.3% Cu. VDD 156 intersected 10.8m at 0.9% Cu including 6m at 1.4% Cu. As such the results support the continuity of this south plunging higher grade lens and will be incorporated into an update resource estimate and Scoping Study activities.
VDD 188 was targeted to intersect the D Zone ore horizon at a shallower level and to the south of the actual pierce point, however the drill hole deviated and missed the target point by approximately 40m.
Lower grade hangingwall and footwall zones were also recorded in VDD 187 and 188 and these will be further investigated to establish if they develop into target horizons elsewhere at D Zone.

VDD 189, 190, 192 and 193 (VDD 191 was abandoned at 56.6m due to deviation away from the target zone), were targeted to deliver significant vertical extension to the higher grade, and thicker portion of D Zone copper mineralisation outside of the current Mineral Resource Estimate (Figures 3 and 4). The results demonstrate that this is the case.
Drill holes VDD 189 and 190 were targeted to further define the emerging higher grade, and thicker, portion of D Zone copper mineralisation at depths of greater than 300m below surface, and towards the interpreted northern margin of the higher grade zone. This was delivered with wide intersections at >1% Cu, and narrower intervals grading up to 2% Cu.
Drill hole VDD 192 was targeted to deliver a significant increase in strike length of the thicker and higher grade zone. This was delivered with an intersection of 22m at 1.4% Cu, including 7.4m at 1.9% Cu and 6.5m at 1.5% Cu. The strike extent from VDD 189 to VDD 192 is approximately 400m.
Drill hole VDD 193 intersected a strongly copper mineralised interval with considerable visible chalcopyrite, and is located approximately 150m down plunge from VDD 186 (which intersected 9.4m at 2.0% Cu and 3.6m at 2.8% Cu, within 37.5m at 1.1% Cu (ASX announcement dated 2nd July 2015)). VDD 193 intersected a broad mineralised zone of 73m at 1.3% Cu, including 26.7m at 2.6% Cu. Within this were higher grade zones up to 3.5% Cu over 6.6m. This intersection has added considerable vertical extent and demonstrates that the D Zone orebody contains zones of considerable thickness at grades greater than 2% Cu.
VDD 193W2 was drilled during September with assay results released after quarter end. This is a wedge hole off VDD 193 and was planned to intersect the mineralised lode above VDD 193. The wedge hole has proved difficult to complete, and deviated to the north, and has not intersected the target zone exactly as planned. However results are positive and demonstrate narrow (>4m) high grade intersections of >2% Cu within wider intervals of lower grade mineralisation of ~40m at 0.8% Cu.
Drill hole VDD 194 was completed after the quarter end and was targeted to intersect the plane of mineralisation approximately 100m south of, and at a similar RL to, the VDD 193 intersection.
The results, along with other holes drilled during 2015 in D Zone, support the interpretation that the D Zone orebody is continuing at depth and contains within it thicker and higher grade shoots that appear to be plunging at a moderate to steep angle to the southwest. The strike extent of this thicker and higher grade zone now measures approximately 400m, the interpreted true width ranges from 10m to 25m, the vertical extent is greater than 400m, and remains open at depth along the 400m strike extent (Figure 3), but potentially as a series of higher grade shoots within a broader mineralised zone.
Lower grade mineralised zones to the east and west of the Main Lode were also recorded. These have also been identified in several other holes, and will be further investigated to establish if they develop into target horizons elsewhere at D Zone.
Drill hole targeting at D Zone is being directed by key resource estimate growth opportunities in parallel with in-house mine planning scenarios. It is aimed at further definition of high grade copper zones to support an updated resource estimate on a high grade copper only development scenario at Viscaria. It is expected that an updated Mineral Resource Estimate for D Zone will be completed and released in November 2015, followed by a Scoping Study in December 2015.

West Nukutus Iron Oxide Copper Prospect
The West Nukutus target comprises a north-south trending complex magnetic anomaly with a strike extent of at least 1200m. It is located 5km northeast of Viscaria A Zone (Figure 5).
Diamond drill hole WNDD 001 was undertaken in July to test the peak of the 1km long bedrock copper-gold anomaly defined from a grid auger drilling program (announced 10th June 2015) at the West Nukutus Iron Oxide Copper target (IOC). The hole was drilled to a depth of 350.3m.
Copper assays of up to 0.5% Cu, and gold assays of up to 0.1g/t Au, were recorded in auger bedrock samples. Drill hole WNDD 001 intersected altered mafic volcanic rocks with up to 0.45% copper over narrow intervals. The results suggest that vein and shear-related mineralisation occurs marginal to the main iron oxide altered mafic interval (Figure 6). Two significant intervals of 39.8m and 25.45m returned copper in excess of 300ppm (considered anomalous) from 69 to 108.8m and 115.05 to 140.5m.
A Zone Target Definition:
The A Zone deposit at Viscaria was previously mined by Outokumpu. 12.5 million tonnes of ore was mined at 2.3% Cu over the period 1985 to 1997. It is interpreted to be a Volcanogenic Massive Sulphide deposit (VMS) geologically comparable to Sandfire Resources' De Grussa deposit, or MMG's Golden Grove deposit. These deposits typically occur in clusters, and along horizons of time equivalence.
Minimal exploration has been undertaken in the Viscaria belt outside of the immediate Viscaria development area. Exploration for sulphide deposits often relies on EM surveys but in the Viscaria area these are compromised by extensive graphitic horizons that occur adjacent to the massive sulphide lenses. For example, the A Zone deposit has only a subtle EM response adjacent to a much stronger response from a laterally extensive graphitic unit. On this basis several conceptual targets areas have been defined and are being prioritised for further drill testing.
Figure 7 shows the target zones and their relationship to thicker interpreted graphitic units in the immediate footwall. Isolated drill holes have returned anomalous copper values of up to 1.7% Cu over narrow intervals in the target zones, and therefore require follow-up.

Vazasvarri
The Vazasvarri area is located 25km north of Viscaria on the northern extension of the Viscaria mafic volcanic belt (Figure 5). Historical exploration by other companies had identified anomalous copper in peat bog samples* and Avalon's program was to follow-up on those results within the context of EM anomalies defined from the airborne EM survey.
Historical exploration to the north of the main area of interest did include diamond drilling by LKAB and Outokumpu. A total of 10 holes were drilled and some copper anomalism was identified, together with trace visible chalcopyrite, in various host rocks including magnetite-graphite-cherttuff sequences and diorite.
Sampling by Avalon has returned 0.52% copper from a sample adjacent to a prominent EM anomaly – a geometry similar to the A Zone horizon at Viscaria. To the east of the anomalous peat bog sample historical drilling identified up to 0.3% copper over a 1m interval within a magnetitegraphite-chert-tuff sequence. Further work will be done in this area to define drill targets for followup in 2016.
(*Peat bog samples are collected from the base of swamps where vegetation is in various states of degradation. Peat bogs are typically traps for metals migrating from the surrounding terrain and are an effective regional sampling medium because of their ubiquitous and widespread distribution in glaciated arctic terrains.)
Discovery Zone
Following submittal of the amended application for the Exploitation Concession at Discovery Zone, Avalon has focussed on stakeholder engagement activities. A social impact assessment is currently being finalised through an external consulting group.
As announced on 9 October 2015, the Heads of Agreement for the acquisition of the Discovery Zone copper-iron deposit has not been extended. Since the exploitation concession application had not been granted by 8 October 2015 (being two years from the initial payment), the initial A$1 million payment made by Avalon is refundable by Hannans, and a Refund Notice has been issued. Hannans have a 90 day period to make the refund payment, upon which the tenements will be transferred back to them.
Development Studies at Viscaria
Project planning studies are underway as we move towards the release of a Scoping Study on a copper only mining project at Viscaria. We expect to release the Scoping Study in December 2015.
Activities to date include a preliminary geotechnical assessment for open pit and underground mining operations, a benchmarking exercise to support assumptions on capital and operating costs, approaches to local contractors for budget pricing of mining activities, preliminary reviews of waste and tailings management options, scenario assessment of open pit and underground mining options, hydrological assessments, infrastructure planning, metallurgical testwork and process flowsheet development.

Environmental and Social Impact Assessment (ESIA)
The Viscaria ESIA process has commenced. These activities will deliver the necessary documents for application for a Permit to Mine from the Swedish Land and Environmental Court. The process is focussed on the immediate Viscaria area and supports planning for mine development within the granted Exploitation Concessions K3, K4, and K7.
Tenements
During the quarter the application for new exploration tenement Goddevarri was granted, exploration tenements Viscaria No 2 and Viscaria No 107 were renewed, while Viscaria No 108 was relinquished.
Corporate
Cash Resources - The Company's unaudited cash position for September 30, 2015 is A$1.25 million.
Capital Raising
On 16 October 2015 Avalon announced a non-renounceable Rights Issue of 1 new share for every 2 shares held at a price of A$0.027 per share to raise approximately A$3.4 million, in conjunction with a placement of 14,851,852 shares under the Company's available capacity, at A$0.027 per share, to sophisticated investors to raise approximately A$0.4 million. On completion of the Placement and Rights Issue the Company will have up to $4.5 M cash at bank (before the costs of the issue).
Shareholder Information
As at 30 September 2015, the Company had 240,319,478 fully paid ordinary shares on issue and approximately 902 shareholders.
Notes Specific – Sept 2015 Quarter ASX Announcements
The following announcements, which relate to information in this Quarterly Report, were lodged with the ASX during the Quarter. Further details (including JORC 2012 Code Reporting Tables, where applicable) for the results summarised above can be found in the announcements:
| High Grade Copper Intersected at Viscaria D Zone | 2 July 2015 |
|---|---|
| Near Mine Exploration Opportunities | 10 July 2015 |
| Shallow High Grade Copper Assay Results Viscaria D Zone | 15 July 2015 |
| AVI Presentation Noosa Mining Conference July 2015 | 17 July 2015 |
| Further Strong Copper Assay Results from Viscaria D Zone | 11 August 2015 |
| Further High Grade Copper from Viscaria D Zone | 2 September 2015 |

VDD193 Intersects Strong Copper Mineralisation 7 September 2015 Kiruna Greenstone Belt – Assessment of Exploration Opportunities 10 September 2015 VDD 193 – High Grade Discovery 21 September 2015 Avalon not to proceed with Discovery Zone Acquisition 9 October 2015 Share Placement and 1 for 2 Rights Issue 16 October 2015 VDD 193W2 assay results 20 October 2015

Figure 1: Project Location


Figure 2: Location of the Viscaria Copper Project.



Figure 3: Location of VDD 187, 188, 189, 190, 192 and 193 on schematic long section showing Cu grade (%) x interpreted true ore zone thickness contours for D Zone ironstone hosted copper mineralisation at the Viscaria Copper Project. Quoted intercepts are downhole intervals. Southwest plunging lenses of improving grade and thickness at depth are being defined as further drilling is undertaken. The limit of the existing published Mineral Resource estimate is shown by the black dashed line.



Figure 4: D Zone drill hole cross section showing results from VDD 193.


Figure 5: Location of the West Nukutus and Vazasvarri prospects relative to the Viscaria Copper Project development area (A, B and D Zones). Other targets for testing include A Zone sub basin targets, Bahpagobba, D Zone North, and A Zone East. Background image is airborne EM data spliced into airborne magnetic data. Viscaria to West Nukutus is 5km and is accessed via gravel and bitumen roads that provided access for the historical Henry open cut iron mine located immediately east of the West Nukutus prospect.


Figure 6: Location of WNDD 001 with respect to the broad copper anomaly defined from bedrock auger drilling.



Figure 7: A Zone horizon sub-basin targets. The targets have been defined on the basis of conceptual model development based on the Viscaria A Zone deposit. The sulphide mineralisation at A Zone is adjacent to significant graphitic units with thickening of these units partly reflecting original sub-basin development, and partly due to structural thickening. The sulphide response in EM data is masked by the graphitic response. Comparable domains have been highlighted at time equivalent positions, and with potential structural corridors that may reflect original basin structures (but have been subsequently reactivated with basin inversion).

TENEMENT SCHEDULE
At the end of the quarter, the Company holds the following tenements:
| Tenement Holder | Tenement Name | Location | Status | Ownership |
|---|---|---|---|---|
| Avalon Minerals Viscaria AB | Viscaria No 1 | Norrbotten, Sweden | Granted | |
| Avalon Minerals Viscaria AB | Viscaria No 2 | Norrbotten, Sweden | Granted | 100% |
| Avalon Minerals Viscaria AB | Viscaria No 3 | Norrbotten, Sweden | Granted | 100% |
| Avalon Minerals Viscaria AB | Viscaria No 101 | Norrbotten, Sweden | Granted | 100% |
| Avalon Minerals Viscaria AB | Viscaria No 107 | Norrbotten, Sweden | Granted | 100% |
| Avalon Minerals Viscaria AB | Viscaria No 108 | Norrbotten, Sweden | Relinquished | 0% |
| Avalon Minerals Viscaria AB | Viscaria No 112 | Norrbotten, Sweden | Granted | 100% |
| Avalon Minerals Viscaria AB | Viscaria No 113 | Norrbotten, Sweden | Granted | 100% |
| Avalon Minerals Viscaria AB | Huornas No 1 | Norrbotten, Sweden | Granted | 100% |
| Avalon Minerals Viscaria AB | Huornas No 2 | Norrbotten, Sweden | Granted | 100% |
| Avalon Minerals Viscaria AB | Viscaria K No 3 | Norrbotten, Sweden | Granted | 100% |
| Avalon Minerals Viscaria AB | Viscaria K No 4 | Norrbotten, Sweden | Granted | 100% |
| Avalon Minerals Viscaria AB | Viscaria K No 7 | Norrbotten, Sweden | Granted | 100% |
| Avalon Minerals Viscaria AB | Nihka East | Norrbotten, Sweden | Granted | 100% |
| Avalon Minerals Adak AB | Rakkurijärvi No 1 | Norrbotten, Sweden | Granted | 100% (to betransferred to HNR*) |
| Avalon Minerals Adak AB | Rakkurijärvi K No 1 | Norrbotten, SwedenApplication | 100% (to betransferred to HNR*) | |
| Avalon Minerals Adak AB | Goddevarri | Norrbotten, Sweden | Granted (New) | 100% |
*****HNR – Hannans Reward Ltd (ASX:HNR)
Competent Persons Statement
DIRECTORY The information in this report that relates to exploration results is based upon information reviewed by Mr Malcolm Norris who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Norris is a full-time employee of Avalon Minerals Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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". Mr Norris consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

AVALON MINERALS LIMITED ABN 68 123 184 412
Web site: www.avalonminerals.com.au Email: [email protected]
Stock Exchange Listing
Australian Stock Exchange ASX Code: AVI
Investor Information Contacts:
Mr Gavin Leicht - Company Secretary Avalon Minerals Limited Tel: 07 3368 9888 Email: [email protected]
Shareholder Enquiries: Registered Office:
Share registry matters should be directed to:
Computershare Investor Services Milton Queensland 4064 Phone: 1300 850 505 Phone: 07 3368 9888 Website: www.computershare.com.au Fax: 07 3368 9899
Issued capital:
Ordinary shares: 240,319,478 (AVI) (at 30 September 2015)
Directors: Company Secretary:
Graham Ascough – Non-Executive Chairman Gavin Leicht Malcolm Norris – CEO/Managing Director Crispin Henderson – Non-Executive Director Don Hyma - Non-Executive Director
9 Gardner Close
For further information please visit www.avalonminerals.com.au or contact:
Avalon Minerals Limited T: 07 3368 9888 E: [email protected] www.avalonminerals.com.au
Rule 5.3
Appendix 5B
Mining 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
Name of entity
Avalon Minerals Limited
68 123 184 412 30 Sept 2015
ABN Quarter ended ("current quarter")
Consolidated statement of cash flows
| Current quarter | Year to date | ||
|---|---|---|---|
| Cash flows related to operating activities | $A'000 | (3 months) | |
| $A'000 | |||
| 1.1 | Receipts from product sales and relateddebtors | - | - |
| 1.2 | Payments for(a) exploration & evaluation(b) development | (1,383)- | (1,383)- |
| (c) production | - | - | |
| (d) administration | (607) | (607) | |
| 1.31.4 | Dividends receivedInterest and other items of a similar naturereceived | -7 | -7 |
| 1.5 | Interest and other costs of finance paid | - | - |
| 1.6 | Income taxes received | - | - |
| (gross amount - R&D tax rebate) | |||
| 1.7 | Other (provide details if material) | - | - |
| Net Operating Cash Flows | (1,982) | (1,982) | |
| Cash flows related to investing activities | |||
| 1.8 | Payment for purchases of: | ||
| (a) prospects | - | - | |
| (b) equity investments(c) other fixed assets | -- | -- | |
| 1.9 | Proceeds from sale of: | ||
| (a) prospects | - | - | |
| (b) equity investments | - | - | |
| (c) other fixed assets | - | - | |
| 1.10 | Loans to other entities | - | - |
| 1.11 | Loans repaid by other entities | - | - |
| 1.12 | Other (provide details if material) | - | - |
| Net investing cash flows | - | - | |
| 1.13 | Total operating and investing cash flows | ||
| (carried forward) | (1,982) | (1,982) |
+ See chapter 19 for defined terms.
| 1.13 | Total operating and investing cash flows (brought | ||
|---|---|---|---|
| forward) | (1,982) | (1,982) | |
| Cash flows related to financing activities | |||
| 1.14 | Proceeds from issues of shares, options, etc. | - | - |
| 1.15 | Proceeds from sale of forfeited shares | - | - |
| 1.16 | Proceeds from borrowings | - | - |
| 1.17 | Repayment of borrowings | - | - |
| 1.18 | Dividends paid | - | - |
| 1.19Capital raising costs | - | - | |
| Net financing cash flows | - | - | |
| Net increase (decrease) in cash held | (1,982) | (1,982) | |
| 1.20 | Cash at beginning of quarter/year to date | 3,209 | 3,209 |
| 1.21 | Exchange rate adjustments to item 1.20 | 21 | 21 |
| 1.22 | Cash at end of quarter | 1,247 | 1,247 |
Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities
| Current quarter$A'000 | ||
|---|---|---|
| 1.23 | Aggregate amount of payments to the parties included in item 1.2 | 107.7 |
| 1.24 | Aggregate amount of loans to the parties included in item 1.10 | - |
| 1.25 | Explanation necessary for an understanding of the transactions | |
| Director's remuneration. | 107.7 |
Non-cash financing and investing activities
2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows
Nil
2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest
Nil
+ See chapter 19 for defined terms.
Financing facilities available
Add notes as necessary for an understanding of the position.
| Amount available | Amount used | ||
|---|---|---|---|
| $A'000 | $A'000 | ||
| 3.1 | Loan facilities | - | - |
| 3.2 | Credit standby arrangements | - | - |
Estimated cash outflows for next quarter
| $A'000 | |||
|---|---|---|---|
| 4.1 | Exploration and evaluation | 1,800 | |
| 4.2 | Development | - | |
| 4.3 | Production | - | |
| 4.4 | Administration | 390 | |
| Total | 2,190 |
Reconciliation of cash
| Reconciliation of cash at the end of the quarter (asshown in the consolidated statement of cash flows)to the related items in the accounts is as follows. | Current quarter$A'000 | Previous quarter$A'000 | |
|---|---|---|---|
| 5.1 | Cash on hand and at bank | 432 | 529 |
| 5.2 | Deposits at call | 815 | 2,680 |
| 5.3 | Bank overdraft | - | - |
| 5.4 | Other (provide details) | - | - |
| Total: cash at end of quarter (item 1.22) | 1,247 | 3,209 |
Changes in interests in mining tenements
| Tenement | Nature of interest | Interest at | Interest at | ||
|---|---|---|---|---|---|
| reference | (note (2)) | beginning | end of | ||
| of quarter | quarter | ||||
| 6.1 | Interests in miningtenements relinquished,reduced or lapsed | Viscaria No 108 | Nil (relinquished) | 100% | NIL |
| 6.2 | Interests in miningtenements acquired orincreased | Goddevarri | 100% | NIL | 100% |
+ See chapter 19 for defined terms.
Issued and quoted securities at end of current quarter
Description includes rate of interest and any redemption or conversion rights together with prices and dates.
| Total number | Number quoted | Issue price persecurity (see note3) (cents) | Amount paid upper security (seenote 3) (cents) | ||
|---|---|---|---|---|---|
| 7.1 | Preference+securities(description) | - | - | - | - |
| 7.2 | Changes duringquarter | - | - | - | - |
| 7.3 | +Ordinarysecurities | 240,319,478 | 240,319,478 | ||
| 7.4 | Changes duringquarter(a) Increases(b) Decreasesthrough returns ofcapital, buy-backs | - | - | - | - |
| 7.5 | +Convertibledebt securities(description) | - | - | - | - |
| 7.6 | Changes duringquarter | - | - | - | - |
| 7.7 | Options(description andconversion factor) | 5,200,0005,600,000 | NilNil | Exercise Price6 cents8 cents | NilNil |
| PerformanceRights | 200,000 | Nil | Nil | ||
| 7.8 | Issued duringquarter | - | - | - | - |
| 7.9 | Exercised duringquarter | - | - | - | - |
| 7.10 | Expired duringquarterOptionsExpiry date30/09/2015 | 2,600,000 | Nil | - | - |
| PerformanceRights | - | - | - | - | |
| 7.11 | Debentures(totals only) | - | - | ||
| 7.12 | Unsecured notes(totals only) | - | - |
+ See chapter 19 for defined terms.
Compliance statement
- 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 5).
- 2 This statement does give a true and fair view of the matters disclosed.
(Company Secretary)
Sign here: ............................................................ Date: 21 October 2015
Print name: GAVIN LEICHT
Notes
- 1 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 wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
- 2 The "Nature of interest" (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.
- 3 Issued and quoted securities. The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities*.*
- 4 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.
- 5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.
== == == == ==
+ See chapter 19 for defined terms.