TIVAN LIMITED — Interim / Quarterly Report 2017

Apr 19, 2017

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

TNG Limited

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ABN Quarter ended (“current quarter”) 12 000 817 023 31 Mar 2017

Consolidated statement of cash flows	Consolidated statement of cash flows	Current quarter	Year to date (9
		$A’000	months)
			$A’000
1.	Cash flows from operating activities
1.1	Receipts from customers	-	-
1.2	Payments for
	(a) exploration & evaluation	(1,220)	(4,318)
	(b) development	-	-
	(c) production	-	-
	(d) staff costs	(363)	(1,120)
	(e) administration and corporate costs	(508)	(1,461)
1.3	Dividends received (see note 3)	-	-
1.4	Interest received	19	72
1.5	Interest and other costs of finance paid	-	-
1.6	Income taxes paid	-	-
1.7	Research and development refunds	-	-
1.8	Other (TRT demerger costs)	(309)	(309)
1.9	Net cash from / (used in) operating	(2,381)	(7,136)
	activities
2.	Cash flows from investing activities
2.1	Payments to acquire:
	(a) property, plant and equipment	-	(43)
	(b) tenements (see item 10)	-	-
	(c) investments	-	-
	(d) other non-current assets	-	-

• 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	Consolidated statement of cash flows	Current quarter	Year to date (9
		$A’000	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 (Research and development refund)	-	962
2.6	Net cash from / (used in) investing	-	919
	activities
3.	Cash flows from financing activities
3.1	Proceeds from issues of shares	-	7,024
3.2	Proceeds from issue of convertible notes	-	-
3.3	Proceeds from exercise of share options	150	150
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)	70	70
3.10	Net cash from / (used in) financing	220	7,244
	activities
4.	Net increase / (decrease) in cash and
	cash equivalents for the period
4.1	Cash and cash equivalents at beginning of
	period	10,496	7,308
4.2	Net cash from / (used in) operating	(2,381)	(7,136)
	activities (item 1.9 above)
4.3	Net cash from / (used in) investing activities	0	919
	(item 2.6 above)
4.4	Net cash from / (used in) financing activities	220	7,244
	(item 3.10 above)
4.5	Effect of movement in exchange rates on	-	-
	cash held
4.6	Cash and cash equivalents at end of	8,335	8,335
	period

• 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

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5. Reconciliation of cash and cash Current quarter Previous quarter
equivalents $A’000 $A’000
at the end of the quarter (as shown in the
consolidated statement of cash flows) to the
related items in the accounts
5.1 Bank balances 8,221 10,394
5.2 Call deposits 114 102
5.3 Bank overdrafts - -
5.4 Other (provide details) - -
5.5 Cash and cash equivalents at end of 8,335 10,496
quarter (should equal item 4.6 above)
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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 1.2 169 6.2 Aggregate amount of cash flow from loans to these parties included - in item 2.3

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• 6.3 Include below any explanation necessary to understand the transactions included in items 6.1 and 6.2

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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

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• 7.3 Include below any explanation necessary to understand the transactions included in items 7.1 and 7.2

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• 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	Total facility amount	Amount drawn at
	Add notes as necessary for an	at quarter end	quarter end
	understanding of the position	$A’000	$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.

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9.	Estimated cash outflows for next quarter	$A’000
9.1	Exploration and evaluation		(1,500)
9.2	Development		-
9.3	Production		-
9.4	Staff costs		(363)
9.5	Administration and corporate costs		(508)
9.6	Other (provide details if material)		-
9.7	Total estimated cash outflows		(2,371)

• 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

10.	Changes in	Tenement	Nature of interest	Interest at	Interest
	tenements	reference		beginning	at end of
	(items 2.1(b) and	and location		of quarter	quarter
	2.2(b) above)
10.1	Interests in mining	EL27892	Transferred to Todd	100%	0
	tenements and	EL29219	River Resources	100%	0
	petroleum tenements lapsed, relinquished or reduced	EL28694 EL27711		100% 100%	0 0
		EL30085		100%	0
		ELA28509		100%	0
		EL26848		100%	0
		EL27115		100%	0
		EL30348		100%	0
		EL30359		100%	0
		EL31265		100%	0
		EL30131		100%	0
		EL31209		100%	0
		EL24395		100%	0
		EL25646		100%	0
		MA24518		100%	0
		MA26581		100%	0
		MLA27357		100%	0
		ELA29252		100%	0
		ELA29253		100%	0
		EL29164		100%	0
		EL25581		20%	0
		ELA25582		20%	0
		ELA25587		20%	0
		ELA24260		100%	0
		ELA25562		100%	0
		ELA25564		100%	0
		ELA26382		100%	0
		ELA26383		100%	0
		ELA26384		100%	0
		MLC647		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:

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Date: 20 April 2017

Print name: Paul E Burton

(Director/Company secretary

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 that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.

2. 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.

3. 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.

4. See chapter 19 for defined terms 1 September 2016

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