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TANAMI GOLD NL — Management Reports 2021
Jan 31, 2021
65894_rns_2021-01-31_71b02218-8828-47fd-b8da-d760329ed4b3.pdf
Management Reports
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FOR THE PERIOD ENDING 31 DECEMBER 2021
Unit 202, Level 2, 39 Mends Street, South Perth WA 6151 Tel: +61 (8) 6373 5130 Fax: +61 (8) 9388 7559 Email: [email protected] Pauline Collinson Website: www.tanami.com.au ABN: 51 000 617 176 COMPANY SECRETARY
CORPORATE
Cash and Cash Equivalents
As at 31 December 2020, Tanami Gold NL (“Tanami” or the “Company”) had available cash of $28.78 million.
Northern Star Resources Limited Shares
As at 31 December 2020, the Company has 500,000 NST shares remaining.
Joint Venture with NST
The respective interests in the Central Tanami Project (“CTP”) of Tanami and Northern Star Resources (“Northern Star”) at the date of this report remain at 60% and 40%.
Northern Star advised the ADF, AFP and NT Police (“Monitoring Authorities”) demobilised from the CTP mine site in late December 2020 following the cessation of the COVID-19 WA-NT border checkpoint on the Tanami Road. The CTP camp is now only manned by essential care and maintenance personnel during the current wet season post the departure of the Monitoring Authorities.
EXPLORATION
Central Tanami Project (60% Tanami)
Northern Star advised that Sacred Site Clearance approvals were received from the Central Land Council (“CLC”) during the quarter for the Cave Hill and Regional Exploration Programs. Discussions remain ongoing for the Central Clearance approval. Northern Star advised the following exploration activities were undertaken during the quarter:
a) Drill Hole Re-sampling
A significant drill hole resampling campaign was undertaken to provide a spread of multi-element data over the Tanami Project with a total of 320 drill chips, diamond core and surface geochemical samples despatched during the quarter. Table 1 summarises the sample locations.
Table 1 : Re-sampling Completed
| **Sample Type ** | Prospect | Tenement | No. Samples | Comments |
|---|---|---|---|---|
| Geochem | Suplejack | EL28282 | 5 | |
| Geochem | Cave Hil | EL10411 | 13 | |
| Diamond Core | Carbine | MLS167 | 34 | |
| Drill Chip | Carbine | MLS172 | 54 | |
| Drill Chip | Groundrush | EL28474 | 17 | |
| Drill Chip | Molech | MLS180 | 183 | Centred around Beaver deposit |
| Diamond Core | Ripcord | ML22934 | 6 | |
| Drill Chip | Regional | EL26925 | 8 | NTGS core librarysamples |
FOR THE PERIOD ENDING 31 DECEMBER 2021
With lengthy turnaround delays at ALS Laboratory Perth, some assay results remained outstanding at the end of the quarter. Review and interpretation of assays has commenced but is being impacted by lengthy turnaround delays from the ALS Laboratory in Perth. At the end of the period some assay results remaining outstanding delaying review and interpretation completion until compilation of the full dataset is finalised.
==> picture [211 x 297] intentionally omitted <==
Figure 1 – Central Tanami JV Temenents
b) Stratigraphy/Geochemistry Project Completed
On 30 November 2020, Norther Star completed project work focssing on the geochemical and mineralogical classification of the Tanami Group sedimentary and volcanic rocks, their alteration and interpretation of their depositional environment.Sample sites chosen for the project included some areas outside of the current CTP JV together with CTP JV sites including the Tanami Mine Corridor (Hurricane-Repluse, Jims), and Groundrush Domain (Groundrush, Ripcord, regional AC). The project was validated by baseline data generated from infield core-logging and re-assay.
Given the scale and scope of the project, further analysis of the results and interpretation is required to also assist in determining how best to integrate these key findings into future exploration targeting. This work will continue in 2021.
Figure 2 is a series of plots detailing the final chemical assemblages used to discriminate the multi-element data.
FOR THE PERIOD ENDING 31 DECEMBER 2020
==> picture [450 x 319] intentionally omitted <==
Figure 2: CSIRO Tanami Stratigraphy and Geochemistry Project – geochemical discrimination plots
c) Gold Paragenesis and Geometallurgy Project (CSIRO)
Northern Star advised analysis of samples from Hurricane-Repulse, Jims, Groundrush and Beaver completed first pass MAIA mapping and further review of the draft Cave Hill aircore drill program over EL10411 was completed . Field inspection and disturbance permits were completed in readiness for pending CLC Heritage clearance. Analysis of all samples will continue into 2021 with further test work such as Tornado XRF mapping, multi-element assay and petrological thin sections being undertaken.
d) Heritage
-
Sacred Site Clearance approvals received from the CLC during the quarter for the Cave Hill and Regional Exploration Programs.
-
Discussions remain ongoing for the Central Clearance approval.
e) Tenement Management
-
Ripcord ML22934 – 2020 Annual Technical and Expenditure Reports Submitted 5 November 2020;
-
Carbine MLS167 and 168 – Application for 2 year renewals lodged 15 December 2020;
-
Approval of the Regional Exploration MMP Variation was received 2 December 2020.
Work planned for next quarter:
-
Resource definition drill program designs (Jims/Groundrush);
-
Ongoing CSIRO Tanami Geometallurgy and Gold Paragenesis Project;
-
Review and interpret ME resampling assays; and
-
Review completed Tanami Stratigraphy and Geochemistry Project – identify value-add to current workflows.
FOR THE PERIOD ENDING 31 DECEMBER 2020
MINERAL RESOURCES
Table 1: Tanami Gold NL Mineral Resources as at 31 December 2020 (60% Tanami)
| Project | Resourc | e Category | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Measured | Indicated | Inferred | Total | |||||||||
| Tonnes | Grade | Ounces | Tonnes | Grade | Ounces | Tonnes | Grade | Ounces | Tonnes | Grade | Ounces | |
| g/t Au | g/t Au | g/t Au | g/t Au | |||||||||
| CTP9 | 6,255,000 | 2.9 | 579,000 | 11,075,000 | 2.8 | 1,001,000 | 12,106,000 | 2.9 | 1,133,000 | 29,436,000 | 2.9 | 2,713,000 |
| CTP Stockpile9 |
1,400,000 | 0.7 | 31,000 | - | - | - | - | - | - | 1,400,000 | 0.7 | 31,000 |
| Total | 7,655,000 | 2.5 | 610,000 | 11,075,000 | 2.8 | 1,001,000 | 12,106,000 | 2.9 | 1,133,000 | 30,836,000 | 2.8 | 2,744,000 |
Notes to accompany Table 1
-
CTP is Central Tanami Project.
-
Resource estimations completed using MineMap, Vulcan, Surpac, Datamine and Micromine software packages comprising a combination of ellipsoidal inverse distance and ordinary kriging grade interpolation methods.
-
Variable gold assay top cuts were applied based on geostatistical parameters and historical production reconciliation.
-
Resources reported above relevant cut-offs based on economic extractions, varying between 0.7g/t Au and 5.0g/t Au block model grade.
-
Stockpile figures from previously reported Otter Gold Mines NL 2001 Mineral Resource estimate less recorded treatment by Newmont Asia Pacific.
-
Tonnes and ounces rounded to the nearest thousand and grade rounded to 0.1g/t Au. Rounding may affect tallies.
-
The information in this report pertaining to Mineral Resources was compiled by Mr Bill Makar (MAusIMM), former Consultant Geologist – Tanami Gold NL, Mr Michael Thomson (MAusIMM), former Principal Geologist for Tanami Gold NL, Mr Steven Nicholls (MAIG), former Senior Geologist for Tanami Gold NL, Mrs Claire Hillyard (MAusIMM), former Resource Geologist for Tanami Gold NL, Mr Mark Drabble (MAusIMM) – Principal Consultant Geologist, Optiro Pty Ltd and Mr Peter Ball (MAusIMM), Director of Datageo Geological Consultants, and Mr Brook Ekers, a Competent Person who is a Member of the Australian Institute of Geoscientists and a full-time employee of Northern Star Resources Limited. Mr Makar, Mr Thomson, Mr Nicholls, Mrs Hillyard, Mr Drabble, Mr Ball and Mr Ekers have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration to qualify as Competent Persons as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Mr Makar, Mr Thomson, Mr Nicholls, Mrs Hillyard, Mr Drabble, Mr Ball and Mr Ekers consent to the inclusion in this report of the matters based on their information in the form and context in which it appears.
-
The dates referred to in this table represents the date of the most resent update of a Resource (ML22934 Groundrush) within this table, all other Mineral Resources except for ML22934 Groundrush remain unchanged.
-
On 4th of August 2015, an unincorporated joint venture (“JV”) was formed between the Company and Northern Star Resources Limited who purchased an initial 25% interest in the Company’s CTP. On 14 September 2018, the Company exercised the first put option available to it under the JV to sell a further 15% in the CTP. As at 31 December 2021, the Company retains a 60% interest in the CTP Resources stated in this table.
Table 2: Central Tanami Project Mineral Resources as at 31 December 2021 (60% Tanami)
| Mineral Lease | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Resour | ce Category | |||||||||||
| Measured | Indicated | Inferred | Total | |||||||||
| Tonnes | Grade | Ounces | Tonnes | Grade | Ounces | Tonnes | Grade | Ounces | Tonnes | Grade | Ounces | |
| MLS1538 | 1,051,000 | 2.2 | 73,000 | 3,046,000 | 2.2 | 217,000 | 849,000 | 2.7 | 74,000 | 4,946,000 | 2.3 | 365,000 |
| MLS1678 | 2,709,000 | 3.4 | 293,000 | 2,613,000 | 2.9 | 244,000 | 2,050,000 | 2.9 | 191,000 | 7,372,000 | 3.1 | 728,000 |
| MLS1688 | 854,000 | 2.2 | 60,000 | 314,000 | 1.6 | 16,000 | 1,094,000 | 1.6 | 58,000 | 2,262,000 | 1.8 | 133,000 |
| MLS1808 | 545,000 | 3.3 | 57,000 | 872,000 | 2.7 | 76,000 | 269,000 | 2 | 18,000 | 1,685,000 | 2.8 | 151,000 |
| MLSA1728 | 1,096,000 | 2.7 | 96,000 | 176,000 | 1.8 | 10,000 | 142,000 | 2.7 | 12,000 | 1,415,000 | 2.6 | 119,000 |
| ML22934 – Groundrush9 |
- | - | - | 4,054,000 | 3.4 | 438,000 | 6,602,000 | 3.3 | 691,000 | 10,656,000 | 3.3 | 1,129,000 |
| ML22934 – Ripcord8 |
- | - | - | - | - | - | 1,100,000 | 2.5 | 89,000 | 1,100,000 | 2.5 | 89,000 |
| Sub Total | 6,255,000 | 2.9 | 579,000 | 11,075,000 | 2.8 | 1,001,000 | 12,106,000 | 2.9 | 1,133,000 | 29,436,000 | 2.9 | 2,713,000 |
| Stockpiles9 | 1,400,000 | 0.7 | 31,000 | - | - | - | - | - | - | 1,400,000 | 0.7 | 31,000 |
| Total | 7,655,000 | 2.5 | 610,000 | 11,075,000 | 2.8 | 1,001,000 | 12,106,000 | 2.9 | 1,133,000 | 30,836,000 | 2.8 | 2,744,000 |
Notes to accompany Table 2
-
Resource estimations completed using MineMap, Vulcan and Micromine software packages comprising a combination of ellipsoidal inverse distance and ordinary kriging grade interpolation methods.
-
Grade estimation was constrained to material within >0.7g/t mineralisation outlines.
-
Variable gold assay top cuts were applied based on geostatistical parameters and historical production reconciliation. 4. Resources reported above 0.7g/t block model grade.
-
Resources reported above 1.0g/t block model grade.
-
Stockpile figures from previously reported Otter Gold Mines NL 2001 Mineral Resource estimate less recorded treatment by Newmont Asia Pacific.
FOR THE PERIOD ENDING 31 DECEMBER 2021
-
Tonnes and ounces rounded to the nearest thousand and grade rounded to 0.1g/t. Rounding may affect tallies.
-
The information in this report pertaining to Mineral Resources for the Central Tanami Project (excluding ML22934 Groundrush) was compiled by Mr Bill Makar (MAusIMM), former Consultant Geologist – Tanami Gold NL, Mr Michael Thomson (MAusIMM), former Principal Geologist for Tanami Gold NL, Mr Steven Nicholls (MAIG), former Senior Geologist for Tanami Gold NL, Mrs Claire Hillyard (MAusIMM), former Resource Geologist for Tanami Gold NL and Mr Peter Ball (MAusIMM), Director of Datageo Geological Consultants. Mr Makar, Mr Thomson, Mr Nicholls, Mrs Hillyard and Mr Ball have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration to qualify as Competent Persons as defined in the December 2004 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Mr Makar, Mr Nicholls, Mrs Hillyard and Mr Ball consent to the inclusion in this report of the matters based on their information in the form and context in which it appears.
-
ML22934 Resource consists of two Resources - Groundrush Deposit (10.7million tonnes at 3.3g/t for 1,129,000 ounces of gold) and the Ripcord Deposit (1.1 Million tonnes at 2.5g/t for 89,000oz). The information in this report pertaining to Mineral Resources for ML22934 Groundrush was compiled by Mr Brook Ekers, a Competent Person who is a Member of the Australian Institute of Geoscientists and a full-time employee of Northern Star Resources Limited. Mr Ekers has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration to qualify as Competent Persons as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Mr Ekers consents to the inclusion in the public report of the matters based on this information in the form and context in which it appears.
-
The dates referred to in this table represents the date of the most recent update of a Resource (ML22934 Groundrush) within this table, all other Mineral Resources except for ML22934 Groundrush remain unchanged.
ESTIMATION GOVERNANCE STATEMENT
The Company ensures that all Mineral Resource calculations are subject to appropriate levels of governance and internal controls.
Exploration results are collected and managed by an independent competent qualified geologist. All data collection activities are conducted to industry standards based on a framework of quality assurance and quality control protocols covering all aspects of sample collection, topographical and geophysical surveys, drilling, sample preparation, physical and chemical analysis and data and sample management.
Mineral Resource estimates are prepared by qualified independent Competent Persons. If there is a material change in the estimate of a Mineral Resource, the estimate and supporting documentation in question is reviewed by a suitable qualified independent Competent Persons.
The Company reports its Mineral Resources on an annual basis in accordance with JORC Code 2004 and 2012.
COMPETENT PERSON’S STATEMENT
The information in this report that relates to all Mineral Resources (other than ML22934 Groundrush) is based on information compiled by consultant geologist Mr Michael Thomson of MiGeo Enterprise Pty Ltd. Mr Thomson is a member of the Australasian Institute of Mining and Metallurgy and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration to qualify as a Competent Person as defined in the December 2004 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Mr Thomson consents to the inclusion in this report of the matters based on his information in the form and context in which they appear. This information was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.
The information in this report that relates to the Mineral Resource for ML22934 Groundrush is based on information compiled Mr Brook Ekers, a Competent Person who is a full-time employee of Northern Star Resources Limited. Mr Ekers is a member of the Australian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration 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 Ekers consents to the inclusion in this report of the matters based on his information in the form and context in which they appear.
The information in this announcement that relates to exploration results for the Company’s Central Tanami Project Joint Venture is based on information compiled by Michael Mulroney, a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy and a full-time employee of Northern Star Resources Limited. Mr Mulroney has sufficient experience that is relevant to the styles of mineralisation and type of deposits under consideration and to the activity being 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" for the Company’s Central Tanami Project Joint Venture. Mr Mulroney consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears.
FOR THE PERIOD ENDING 31 DECEMBER 2020
Table 3: Schedule of Mineral Tenements - Northern Territory
| Tenement | Name | Status | Interest | Registered Holder |
|---|---|---|---|---|
| EL9843 | Chapmans Hill | Granted | 60% | Tanami (NT) Pty Ltd |
| EL10411 | Tanami DownsNorth | Granted | 60% | Tanami(NT)PtyLtd |
| EL22061 | Farrands Hill South | Granted | 60% | Tanami (NT) Pty Ltd |
| EL22378 | Question Mark Bore Far | Granted | 60% | Tanami (NT) Pty Ltd |
| EL26925 | Goanna 2 | Granted | 60% | Tanami (NT) Pty Ltd |
| EL26926 | Black Hills 2 | Granted | 60% | Tanami (NT) Pty Ltd |
| EL28282 | Suplejack | Granted | 60% | Tanami(NT)PtyLtd |
| EL28474 | Rushmore | Granted | 60% | Tanami (NT) Pty Ltd |
| EL28613 | Gamma East | Withdrawn1 | 60% | Tanami (NT) Pty Ltd |
| ELA32149 | Gamma East | Application1 | 60% | Tanami (NT) Pty Ltd |
| ML22934 | Groundrush | Granted | 60% | Tanami (NT) Pty Ltd |
| MLS119 | Reward | Granted | 60% | Tanami(NT)PtyLtd |
| MLS120 | No.1 South | Granted | 60% | Tanami (NT) Pty Ltd |
| MLS121 | No.2 South | Granted | 60% | Tanami (NT) Pty Ltd |
| MLS122 | No.3 South | Granted | 60% | Tanami (NT) Pty Ltd |
| MLS123 | No.4 South | Granted | 60% | Tanami (NT) Pty Ltd |
| MLS124 | No.1 North | Granted | 60% | Tanami(NT)PtyLtd |
| MLS125 | No.2 North | Granted | 60% | Tanami (NT) Pty Ltd |
| MLS126 | No.3North | Granted | 60% | Tanami(NT)PtyLtd |
| MLS127 | No.4 North | Granted | 60% | Tanami (NT) Pty Ltd |
| MLS128 | No.5 North | Granted | 60% | Tanami (NT) Pty Ltd |
| MLS129 | No.6 North | Granted | 60% | Tanami (NT) Pty Ltd |
| MLS130 | East Block | Granted | 60% | Tanami (NT) Pty Ltd |
| MLS131 | No.5 South | Granted | 60% | Tanami(NT)PtyLtd |
| MLS132 | No. 6 South | Granted | 60% | Tanami (NT) Pty Ltd |
| MLS133 | South East Block | Granted | 60% | Tanami (NT) Pty Ltd |
| MLS153 | Tanami Extended | Granted | 60% | Tanami (NT) Pty Ltd |
| MLS167 | Matilda | Granted | 60% | Tanami (NT) Pty Ltd |
| MLS168 | Enterprise | Granted | 60% | Tanami(NT)PtyLtd |
| MLS180 | Molech | Granted | 60% | Tanami (NT) Pty Ltd |
1 Application for EL28613 withdrawn and replaced with new application for same ground with ELA32149
2 On 22 July 2020, the Company surrendered these tenements to the Department of Primary Industry and Resources.
Release authorised by the Board of Directors on 29 December 2020.
Rule 5.5
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
Name of entity TANAMI GOLD NL ABN Quarter ended (“current quarter”) 51 000 617 176 31 December 2020
| 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 (if expensed) (b) development (c) production (d) staff costs1 (e) administration and corporate costs 1.3 Dividends received 1.4 Interest received2 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Government grants and tax incentives 1.8 Other (provide details if material) 1.9 Net cash from / (used in) operating activities |
- - - - - (282) - 54 - - - - |
- - - - - (454) 68 133 - - - - |
| (228) | (253) | |
| 1Roles within the Company are performed by external consultants, these costs are captured in 1.2(e) 2The Company has its surplus funds invested in term deposit accounts. |
||
| 2. Cash flows from investing activities 2.1 Payments to acquire: (a) entities (b) tenements (c) property, plant and equipment (d) exploration & evaluation (if capitalised) (e) investments (f) other non-current assets |
- - - - - - |
- - - - (2,691) - |
ASX Listing Rules Appendix 5B (01/12/19) + See chapter 19 of the ASX Listing Rules for defined terms.
Page 1
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow 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) entities (b) tenements (c) property, plant and equipment (d) investments (e) 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) investing activities |
- - - - - - - - |
- - - 2,774 - - - - |
| - | 83 | |
| 3. Cash flows from financing activities 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities 3.3 Proceeds from exercise of options 3.4 Transaction costs related to issues of equity securities or convertible debt securities 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 |
- - - - - - - - - |
- - - - - - - - - |
| - | - | |
| 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) |
29,003 (228) - - |
28,945 (253) 83 - |
ASX Listing Rules Appendix 5B (01/12/19) + See chapter 19 of the ASX Listing Rules for defined terms.
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Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
| Consolidated statement of cash flows | Current quarter $A’000 |
Year to date (6 months) $A’000 |
|---|---|---|
| 4.5 Effect of movement in exchange rates on cash held 4.6 Cash and cash equivalents at end of period |
- | - |
| 28,775 | 28,775 | |
| 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) |
2,775 26,000 - - |
3,003 26,000 - - |
| 28,775 | 29,003 | |
| 6. Payments to related parties of the entity and their associates 6.1 Aggregate amount of payments to related parties and their associates included in item 13 6.2 Aggregate amount of payments to related parties and their associates included in item 2 Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must and an explanation for, such payments |
||
| Current quarter $A'000 |
||
| 95 | ||
| - | ||
| include a description of, |
3 Non-executive Director fees paid to the Company’s Directors of $70k for the quarter. Chief Financial Officer fees paid to Dragon Mining Limited of $25k for the quarter, a company with the same major shareholder.
ASX Listing Rules Appendix 5B (01/12/19) + See chapter 19 of the ASX Listing Rules for defined terms.
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Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
| 7. Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 7.1 Loan facilities - - 7.2 Credit standby arrangements - - 7.3 Other (please specify) - - 7.4 Total financing facilities - - 7.5 Unused financing facilities available at quarter end - 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. |
Total facility amount at quarter end $A’000 |
Amount drawn at quarter end $A’000 |
|---|---|---|
| - | - | |
| - | - | |
| - | - | |
| - | - | |
| 8. Estimated cash available for future operating activities |
8. Estimated cash available for future operating activities |
$A’000 |
|---|---|---|
| 8.1 Net cash from / (used in) operating activities (Item 1.9) 8.2 Capitalised exploration & evaluation (Item 2.1(d)) 8.3 Total relevant outgoings (Item 8.1 + Item 8.2) 8.4 Cash and cash equivalents at quarter end (Item 4.6) 8.5 Unused finance facilities available at quarter end (Item 7.5) 8.6 Total available funding (Item 8.4 + Item 8.5) 8.7 Estimated quarters of funding available (Item 8.6 divided by Item 8.3) |
(228) - (228) 28,775 - 28,775 |
|
| 126 | ||
| 8.8 If Item 8.7 is less than 2 quarters, please provide answers to the following questions: 1. Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? |
||
| Answer: N/A |
Answer: N/A
- Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?
Answer: N/A
- Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?
Answer: N/A
ASX Listing Rules Appendix 5B (01/12/19) + See chapter 19 of the ASX Listing Rules for defined terms.
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Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
Compliance statement
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1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
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2 This statement gives a true and fair view of the matters disclosed.
Date: 29 December 2021
Authorised by: By the Board of Directors
(Name of body or officer authorising release – see note 4)
Notes
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This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.
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If this quarterly cash flow 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 cash flow 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.
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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.
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If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [ name of board committee – eg Audit and Risk Committee ]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”.
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If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations , the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.
ASX Listing Rules Appendix 5B (01/12/19) + See chapter 19 of the ASX Listing Rules for defined terms.
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