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WEEBIT NANO LTD — Interim / Quarterly Report 2012
Jan 31, 2012
66042_rns_2012-01-31_d8886adb-cd99-4ed9-b46a-bd6347d86a3a.pdf
Interim / Quarterly Report
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Quarterly Report
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Quarterly Activities Report For the Three Months Ended 31 December 2011
Highlights
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∗ Significant intervals of hematite mineralisation from drilling at Johnston Range and Evanston projects
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∗ Maiden magnetite resource for Die Hardy
ACN 146 455 576
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∗ Pre-feasibility study on Die Hardy to commence in 2012 to optimise transport, infrastructure and mining options
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∗ Mining lease application submitted for Die Hardy Project
ASX Release
31 January 2012
Suite 2, 12 Parliament Place West Perth WA 6005 PO BOX 902 West Perth WA 6872
P + 61 8 9482 0580 F + 61 8 9482 0505 E [email protected] W www.radariron.com.au
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∗ Aeromagnetic survey indicates new zones of potential hematite mineralisation elsewhere on Radar tenure
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∗ Over 18,000m of RC drilling completed since Radar floated in December 2010
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∗ Successful capital raising of $2.48M completed in October
Overview
The Board of Radar Iron Ltd (“Radar”) is pleased to present its quarterly activities report for the quarter ended 30 December 2011. Radar is focused on identifying and defining hematite and magnetite resources in the Central Yilgarn district of Western Australia.
Exploration during the quarter has focussed on the drill testing of hematite targets at the Johnston Range and Evanston projects. Drill intercepts have been encouraging with further work justified. A total of 6005m of RC drilling was completed during the quarter.
Contact
Jonathan Lea Managing Director E [email protected]
Phillip Wingate
Company Secretary E [email protected]
Directors
Alan Tough - Chairman Jonathan Lea - Managing Director Ananda Kathiravelu - Non-Executive
Issued Capital
71,162,129 Ordinary Shares 24,626,704 Listed Options 23,050,000 Unlisted Options
ASX Code
RAD (Fully Paid Ordinary Shares) RADO (Listed Options)
Media Enquiries:
Fortbridge +612 9331 0655 Luke Dean 0414 535 433
Modelling and mineral resource estimation of the magnetite mineralisation at the Die Hardy Range project resulted in a JORC reportable Indicated and Inferred Mineral Resource at a 20% Fe cut-off grade of 353 million tonnes at 26.1% Fe. The mineralisation remains open along strike and at depth. An independent review at Die Hardy confirmed the large scale exploration potential for the resource.
An aero-magnetic survey was completed in the previous quarter to obtain high density coverage over all of Radar’s tenure. The data review suggested the potential for a number of new hematite targets in the Boondine and Jackson areas. Field mapping and follow up ground magnetic surveys were undertaken of specific areas of interest aimed at generating new hematite drill targets in 2012.
Figure 1: Project Area
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Quarterly Activities Report For the Three Months Ended 31 December 2011
Figure 2: Project Location
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Johnston Range – Evanston Projects
Multiple hematite targets (generated through a combination of geological mapping and aero-magnetic and gravity geophysical interpretation) have been previously identified in the Johnston Range and Evanston project areas. Zones of surface hematite enrichment up to approximately 800m in length have been defined by mapping.
An RC drilling programme was completed in December 2011 with 77 holes drilled for 6003m. The drilling tested near-to-surface zones of hematite mineralisation, which could be mineable through shallow open pit operations. The holes were assayed at two metre intervals with the result summary given in Table 1 and drill holes details in Appendix 1.
The prospects tested lie around the Horse Well Anticline that defines the 40km long belt of banded iron formation on the Johnston Range tenements (Figure 3) and also an adjoining banded iron formation (BIF) ridge on the Evanston project. The Johnston Range is comprised of multiple bands of BIF which represents a target of several hundred linear kilometres of BIF with potential for hematite enrichment.
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Quarterly Activities Report For the Three Months Ended 31 December 2011
The drilling has only tested the more obvious targets at Johnston Range to date – the presence of multiple BIF bands and the variable strike length of the mineralisation means there are a significant number of potential targets generated from mapping and geophysics yet to be drill tested.
The potential for hematite mineralisation suitable for economic extraction has been confirmed by this drilling with the indication of pods grading over 55% Fe and up to 300-400m in length and 20m wide. Further drilling is required to test the strike and depth extent prior to potential resource evaluation subject to the normal drill approval process. Drilling is planned to commence in the coming Quarter.
To assist in targeting further drilling a trial programme of ground magnetics was instigated in December. Two areas in the Evanston project were selected owing to a highly magnetically variable signature. Further programmes are planned for the coming quarter. The results will be interpreted and used in conjunction with mapping and other data to define anomalous areas for future drill testing.
TABLE 1 Assay Results – RC Drilling December Quarter
| Prospect | Hole No. | From | To | Interval | Intercepts ‐ Average Grade | Intercepts ‐ Average Grade | Intercepts ‐ Average Grade | ||
|---|---|---|---|---|---|---|---|---|---|
| Fe % | SiO2 % | Al2O3 % | P % | LOI | |||||
| Evanston | RIRC075 | 12 | 20 | 8 | 59.1 | 6.6 | 3.4 | 0.05 | 5.8 |
| Evanston | RIRC076 | 24 | 30 | 6 | 61.7 | 5.5 | 2.5 | 0.08 | 3.9 |
| Olger | RIRC080 | 26 | 34 | 8 | 57.1 | 8.0 | 3.4 | 0.07 | 6.8 |
| Muldoon | RIRC091 | 30 | 38 | 8 | 57.8 | 7.4 | 5.2 | 0.08 | 4.4 |
| Muldoon | RIRC092 | 8 | 20 | 12 | 50.5 | 13.6 | 6.9 | 0.06 | 6.6 |
| Muldoon | RIRC093 | 6 | 16 | 10 | 55.5 | 7.2 | 6.1 | 0.06 | 6.9 |
| Muldoon | RIRC094 | 14 | 20 | 6 | 57.5 | 7.8 | 4.5 | 0.02 | 6.0 |
| Muldoon | RIRC095 including |
16 16 |
34 26 |
18 10 |
56.0 59.2 |
7.1 4.6 |
5.3 3.3 |
0.07 0.08 |
7.4 7.2 |
| Muldoon | RIRC096 | 38 | 48 | 10 | 54.7 | 10.2 | 5.5 | 0.02 | 6.4 |
| Muldoon | RIRC098 | 12 | 18 | 6 | 53.9 | 10.8 | 6.3 | 0.07 | 4.9 |
| Muldoon | RIRC099 | 8 | 32 | 24 | 57.4 | 7.8 | 4.8 | 0.07 | 4.8 |
| Muldoon | RIRC100 | 6 | 18 | 12 | 53.5 | 9.0 | 7.2 | 0.04 | 6.9 |
| Muldoon | RIRC102 | 0 | 6 | 6 | 53.8 | 7.2 | 6.1 | 0.03 | 8.5 |
| Muldoon | RIRC104 | 4 | 16 | 12 | 53.4 | 11.9 | 5.2 | 0.06 | 6.3 |
| Rowling | RIRC105 | 4 | 16 | 12 | 52.5 | 13.7 | 4.0 | 0.04 | 6.6 |
| Rowling | RIRC108 | 34 | 40 | 6 | 53.5 | 10.5 | 5.8 | 0.05 | 6.7 |
| Lange | RIRC115 | 4 | 26 | 22 | 48.3 | 16.3 | 5.8 | 0.08 | 8.5 |
| Shipley | RIRC123 | 28 | 38 | 10 | 49.0 | 20.0 | 2.2 | 0.06 | 8.5 |
| Rowling | RIRC126 | 26 | 34 | 8 | 56.4 | 10.7 | 3.9 | 0.07 | 5.3 |
| Olger | RIRC140 | 0 | 6 | 6 | 53.4 | 7.5 | 4.7 | 0.03 | 10.3 |
Notes:
Sampling and assay intervals – 2 metres Minimum interval width 6m Assay intervals calculated using a 50% minimum iron grade Maximum of 4m of internal dilution in assay intervals LOI is loss on ignition
XRF assaying completed by Spectrolab, Geraldton
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Quarterly Activities Report For the Three Months Ended 31 December 2011
Figure 3: Johnston Range/Evanston RC Drilling - November 2011
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Figure 4: Johnston Range/Evanston Ground Magnetics
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Quarterly Activities Report
For the Three Months Ended 31 December 2011
Die Hardy Range Project
Resource drilling at the Die Hardy Range magnetite project was completed in September 2011 (Figure 4). Total drilling (as reported previously) for the project comprised 25 holes for 7214m (Figure 5). The drilling was aimed at providing sufficient drill data to enable an Inferred Mineral Resource to be estimated for the prospect. Two kilometres of the 3.4km strike length was targeted in the stage 1 drill campaign.
The potential for a major body of magnetite mineralisation at the Die Hardy Range was indentified in 2010 through reconnaissance mapping. The prospect, approximately 3.4km long, was given the initial name of ‘Lara’. Two RC drill holes were completed in late 2010 to provide initial samples of the mineralisation for metallurgical testing. Both assay results and the preliminary metallurgical test work were highly encouraging. Further drilling was planned and a number of botanical surveys completed earlier in 2011 to facilitate drill approvals.
Modelling and mineral resource estimation for the stage 1 drilling was completed by consultant firm CSA Global in October and resulted in a JORC reportable Indicated and Inferred Mineral Resource at a 20% Fe cut-off grade of 353 million tonnes at 26.1% Fe. The mineralisation remains open along strike and at depth.
Davis Tube Recovery (DTR) results and metallurgical test work indicates that a concentrate can be produced exceeding 69% Fe with low levels of contaminants. This indicates that the mineralisation can be treated and has excellent potential for producing a saleable concentrate.
The results reported for a 20% Fe cut-off are:
| Total in‐situ Head Grade resource | Total in‐situ Head Grade resource | s at a 20% Fe cut‐off; Fresh material only | s at a 20% Fe cut‐off; Fresh material only | s at a 20% Fe cut‐off; Fresh material only | s at a 20% Fe cut‐off; Fresh material only | s at a 20% Fe cut‐off; Fresh material only | s at a 20% Fe cut‐off; Fresh material only |
|---|---|---|---|---|---|---|---|
| Classification | Million Tonnes | Fe | Al2O3 | SiO2 | P | S | LOI |
| (%) | (%) | (%) | (%) | (%) | (%) | ||
| Total Indicated | 214.9 | 26.7 | 3.4 | 51.0 | 0.1 | 0.5 | 0.7 |
| Total Inferred | 137.6 | 25.2 | 3.5 | 52.1 | 0.1 | 1.0 | 1.3 |
| Total Indicated + Inferred | 352.6 | 26.1 | 3.4 | 51.4 | 0.07 | 0.7 | 0.9 |
CSA modelled the results from Davis Tube Recovery (DTR) analyses completed on material pulverised to 80% passing 50 micron, resulting in an indicative concentrate inventory of:
| Total in‐situ Upgrade resources at a 20% Fe cut‐off within Magnetite body (at Grind Procedure to produce a nominal P80 at 50 micron) |
Total in‐situ Upgrade resources at a 20% Fe cut‐off within Magnetite body (at Grind Procedure to produce a nominal P80 at 50 micron) |
Total in‐situ Upgrade resources at a 20% Fe cut‐off within Magnetite body (at Grind Procedure to produce a nominal P80 at 50 micron) |
Total in‐situ Upgrade resources at a 20% Fe cut‐off within Magnetite body (at Grind Procedure to produce a nominal P80 at 50 micron) |
Total in‐situ Upgrade resources at a 20% Fe cut‐off within Magnetite body (at Grind Procedure to produce a nominal P80 at 50 micron) |
Total in‐situ Upgrade resources at a 20% Fe cut‐off within Magnetite body (at Grind Procedure to produce a nominal P80 at 50 micron) |
Total in‐situ Upgrade resources at a 20% Fe cut‐off within Magnetite body (at Grind Procedure to produce a nominal P80 at 50 micron) |
Total in‐situ Upgrade resources at a 20% Fe cut‐off within Magnetite body (at Grind Procedure to produce a nominal P80 at 50 micron) |
|---|---|---|---|---|---|---|---|
| Classification | Million Tonnes | Fe | Al2O3 | SiO2 | P | S | MassRec |
| (%) | (%) | (%) | (%) | (%) | (%) | ||
| Total Indicated | 71.2 | 69.3 | 0.1 | 4.2 | 0.0 | 0.3 | 33.8 |
| Total Inferred | 40.9 | 69.1 | 0.1 | 4.4 | 0.0 | 0.4 | 33.9 |
| Total Indicated + Inferred | 112.1 | 69.2 | 0.1 | 4.3 | 0.01 | 0.3 | 33.8 |
The deposit outcrops as a ridge of magnetite bearing banded iron formation (BIF). The BIF is partially demagnetised to a depth of 40-50m although preliminary metallurgical test work suggests that magnetic concentration is still possible for some of the weathered material. The mineralisation dips steeply south and is exposed over a strike length of several kilometres. The reverse circulation (RC) drilling intersected massive magnetite mineralisation with widths from 100 to 300m to a depth of 350m below surface. Drilling to date has not yet fully defined the extent or the depth of mineralisation.
The resource estimation was completed using 25 RC drill holes largely drilled between May and September 2011. Approximately 1.8km of the 3.4km strike length of BIF on Radar’s tenements was targeted in the initial drill campaign. The RC holes were drilled at nominal 400m line spacing with holes at 80m centres. Assaying was
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Quarterly Activities Report
For the Three Months Ended 31 December 2011
completed on two metre intervals with Davis Tube Recovery (DTR) test work undertaken on four metre composite samples. QAQC protocols for sampling were employed as per industry standards.
CSA personnel validated the drilling data base and found no significant issues and provided confirmation that the QAQC protocols employed were appropriate.
Statistical analysis was completed using Isatis software with modelling and Resource estimation completed using the Datamine software. Ordinary Kriging was used for grade and metallurgical property interpolation within a mineralised envelope based on geological logging and assaying results. Tonnage estimations assumed densities of either 3.5 or 3.3 tonnes per cubic metre for primary magnetite ore and partially altered surrounding mineralisation respectively. The resource classification was assigned based on modelling statistics, density of drilling and surface continuity based on both outcrop and aero-magnetic surveys. The resource is only reported for mineralisation below the base of weathering. The Mineral Resource estimate is reported in accordance with the 2004 JORC Code.
The resource estimation results further validate Radar’s belief in the potential for the Die Hardy magnetite deposit to be economically viable. This is supported by the positive results from the scoping study (completed in September 2011) and metallurgical studies which indicate the mineralisation has the potential for producing a high quality concentrate.
Following the success of the initial resource evaluation programs, Radar is planning to commence a prefeasibility study (PFS) to optimise transport, infrastructure and mining options at Die Hardy. A number of consultant groups were contacted during the quarter aimed at identifying the best capable of undertaking specific aspects for the PFS.
Radar completed a geophysical review of the helicopter borne magnetic data covering its Die Hardy project flown in the previous quarter
The review was completed by independent geophysical consultants, Core Geophysics of Perth, and was aimed at providing confirmation of the exploration potential of the Die Hardy Range project banded iron formation (BIF).
The exploration potential of the Die Hardy magnetite mineralisation defined by the study was:
Primary Magnetite BIF: 0.83 Bt – 1.38 Bt at 25-35% Fe*
The magnetic data also highlighted new untested magnetic units within 1km to the north and south of the main magnetite ridge, both with strike lengths of approximately 2km (with only the northern unit being included in the estimate of exploration potential).
Significantly, these new zones indicate a greater depth to primary magnetite, indicating prospectivity for oxidised or direct shipping mineralisation (i.e. hematite). The new magnetic data provide additional targets for iron mineralisation in the Die Hardy Range project area which remains Radar’s primary magnetite target.
In order to better define magnetic anomalies a trial programme of ground magnetics commenced in December. An area covering a complex zone of magnetics was selected at Die Hardy (see Figure 4). Further ground magnetics and interpretation will be used to define potential hematite targets at this project.
As part of the project development strategy for the Die Hardy project a mining lease application (MLA 1264) was submitted in December covering the 3 relevant tenements E77/1164, P77/3461 and P77/3462.
*Radar Iron advises that the potential quantity and grade of iron deposits reported as exploration target potential is conceptual in nature and there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource.
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Quarterly Activities Report For the Three Months Ended 31 December 2011
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Figure 5: Die Hardy Range Project Plan
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Figure 6: Die Hardy Range – Drill Hole Location Plan
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Quarterly Activities Report
For the Three Months Ended 31 December 2011
Figure 7: Die Hardy Range – Cross Sections 2
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Regional Exploration
Regional geological reconnaissance has continued on existing Radar tenements and those acquired from SXG. A number of areas have been identified as containing outcropping hematite mineralisation and magnetite potential is widespread. The focus for regional exploration is on identifying new hematite targets for drill testing in the first half of 2012.
An aeromagnetic survey was completed last quarter over project areas so that Radar now has full coverage of all prospective tenements with high resolution magnetic data.
The survey data added to recently purchased high resolution aeromagnetic data over the Evanston project area (flown several years ago). Magnetic modelling for all the recently acquired data resulted in a number of areas being identified for follow up. As drilling activity permitted, mapping was undertaken in a number of areas on the Jackson and Boondine Projects. The success of trial ground magnetic surveys at Evanston and Die Hardy during the quarter led to the decision to apply the techniques to other projects with complex magnetic signatures. Surveys are planned for these areas in the coming quarter and the results coupled with mapping and other data is expected to lead to the identification and prioritisation of anomalies that will be tested as approvals permit in 2012.
Corporate
In October Radar completed a placement of approximately 8.3 million shares to sophisticated investor clients of FSS Advisory at a price of 30 cents each. The Placement raised $2.48M for the Company.
Radar’s cash position at the end of the quarter was $2.5 million.
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Quarterly Activities Report
For the Three Months Ended 31 December 2011
Announcements
The Company made the following announcements during the quarter.
| Date | Headline |
|---|---|
| 23/12/2011 | Secondary Trading Notice Pursuant to s708A(5) |
| 23/12/2011 | Appendix 3B-Issue of RADO Options |
| 19/12/2011 | Appendix 3B |
| 6/12/2011 | Releasefromescrow |
| 29/11/2011 | Results of Meeting |
| 17/11/2011 | Research Report byProactiveInvestors |
| 16/11/2011 | Maiden 353 Mt Magnetite JORC Resource for Die Hardy |
| 9/11/2011 | Change in substantial holding from TRH |
| 3/11/2011 | Release from escrow and Appendix 3B |
| 1/11/2011 | SecondaryTradingNoticePursuant to s708A(5) |
| 1/11/2011 | QuarterlyActivities and Cashflow Report |
| 31/10/2011 | Appendix 3B |
| 25/10/2011 | Notice of Annual General Meeting/Proxy Form |
| 25/10/2011 | $2.48M Placement to Fund Continued Drilling Program |
| 25/10/2011 | Reinstatement to OfficialQuotation |
| 24/10/2011 | Suspension fromOfficialQuotation |
| 20/10/2011 | TradingHalt |
| 13/10/2011 | Independent Review Confirms Die Hardy Exploration Potential |
| 6/10/2011 | Radar Iron Research Report- RM Research |
For or on behalf of Radar Iron Ltd
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Jonathan Lea
Managing Director
The information in this report accurately reflects information prepared by competent persons (as defined by the Australasian Code for Reporting of Mineral Resources and Ore Reserves). It is compiled by Mr Jonathan Lea, an employee of the Company who is a Member of The Australasian Institute of Mining and Metallurgy with the requisite experience in the field of activity in which he is reporting. Mr Lea has sufficient experience which is relevant to the style of mineralisation and the type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Lea consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
The potential quantity and grade of iron deposits reported as exploration potential is conceptual in nature and there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource.
The information in this announcement that relates to Geophysical Exploration Results is based on information compiled by Mr Mathew Cooper who is a member of The Australian Institute of Geoscientists. Mr Cooper is Principal Geophysicist of Core Geophysics Pty Ltd who are consultants to Radar Iron Limited. Mr Cooper has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Cooper consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
The information in this report relating to exploration results, sampling data validity and quality, mineralisation density and general project descriptions used in the Die Hardy Resource Estimate accurately reflects information prepared by competent persons (as defined by the Australasian Code for Reporting of Mineral Resources and Ore Reserves). It was reviewed by Aloysius G.W. Voortman of CSA Global Pty Ltd who is a Fellow and Chartered Professional of The Australasian Institute of Mining and Metallurgy with the requisite experience in the field of activity in which he is reporting. Mr Voortman has sufficient experience which is relevant to the style of mineralisation and the type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Voortman consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Information in this report that relates to Mineral Resource estimate reflects information compiled by Mr Aloysius G.W. Voortman of CSA Global Pty Ltd who is a Fellow and Chartered Professional of the AusIMM. Mr Voortman is a Competent Person as defined by the JORC and is a full time employee of CSA Global Pty Ltd as Principal Resource Geologist and Geostatistician. He has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is reporting to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.” Mr Voortman consents to the inclusion in the report of the matters based on the information compiled by him, in the form and context in which it appears.
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Quarterly Activities Report
For the Three Months Ended 31 December 2011
APPENDIX 1 – RC Drilling Details
| Prospect | Hole No | Easting | Northing | RL | Azimuth | Dip | Depth |
|---|---|---|---|---|---|---|---|
| Evanston | RIRC066 | 732392 | 6713143 | 449 | 150 | ‐60 | 60 |
| Evanston | RIRC067 | 732480 | 6713277 | 484.5 | 130 | ‐60 | 54 |
| Evanston | RIRC068 | 732536 | 6713352 | 486.4 | 120 | ‐60 | 84 |
| Evanston | RIRC069 | 732816 | 6713475 | 491.2 | 110 | ‐60 | 72 |
| Evanston | RIRC070 | 732780 | 6713651 | 454 | 90 | ‐60 | 72 |
| Evanston | RIRC071 | 732957 | 6713816 | 456 | 110 | ‐60 | 90 |
| Evanston | RIRC072 | 732386 | 6713147 | 488 | NA | ‐90 | 132 |
| Evanston | RIRC073 | 732096 | 6712902 | 486.7 | 120 | ‐60 | 78 |
| Evanston | RIRC074 | 732001 | 6712735 | 485.3 | 120 | ‐60 | 60 |
| Evanston | RIRC075 | 731747 | 6712113 | 481.4 | 105 | ‐60 | 36 |
| Evanston | RIRC076 | 731733 | 6712123 | 482.3 | 105 | ‐60 | 42 |
| Evanston | RIRC077 | 731771 | 6712159 | 445 | 105 | ‐60 | 30 |
| Lange | RIRC078 | 726633 | 6715418 | 488 | 120 | ‐60 | 92 |
| Olger | RIRC079 | 723175 | 6712177 | 479.3 | 315 | ‐60 | 108 |
| Olger | RIRC080 | 723094 | 6712128 | 468.7 | 315 | ‐60 | 93 |
| Olger | RIRC081 | 723199 | 6712143 | 469 | 315 | ‐60 | 132 |
| Evanston | RIRC082 | 731795 | 6712353 | 475 | 115 | ‐60 | 132 |
| Evanston | RIRC083 | 731747 | 6712113 | 481 | 115 | ‐60 | 96 |
| Evanston | RIRC084 | 731819 | 6712341 | 478 | 115 | ‐60 | 78 |
| Evanston | RIRC085 | 732293 | 6713091 | 480 | 115 | ‐55 | 102 |
| Shipley | RIRC086 | 710668 | 6717810 | 467 | 80 | ‐55 | 121 |
| Rowling | RIRC087 | 712488 | 6714010 | 494 | 80 | ‐55 | 60 |
| Rowling | RIRC088 | 712408 | 6714347 | 498 | 260 | ‐55 | 96 |
| Rowling | RIRC089 | 712517 | 6714401 | 493 | 250 | ‐55 | 60 |
| Rowling | RIRC090 | 712063 | 6712970 | 516 | 270 | ‐55 | 90 |
| Muldoon | RIRC091 | 713719 | 6711625 | 511 | 270 | ‐55 | 96 |
| Muldoon | RIRC092 | 713853 | 6711619 | 519 | 240 | ‐55 | 108 |
| Muldoon | RIRC093 | 713859 | 6711448 | 505 | 90 | ‐55 | 120 |
| Muldoon | RIRC094 | 714387 | 6711748 | 532 | 230 | ‐55 | 60 |
| Muldoon | RIRC095 | 714205 | 6711957 | 500 | 70 | ‐55 | 60 |
| Muldoon | RIRC096 | 714429 | 6711569 | 503 | 230 | ‐55 | 96 |
| Muldoon | RIRC097 | 713070 | 6712786 | 508 | 260 | ‐55 | 78 |
| Muldoon | RIRC098 | 713120 | 6712598 | 514 | 260 | ‐55 | 70 |
| Muldoon | RIRC099 | 713134 | 6712391 | 516 | 260 | ‐55 | 78 |
| Muldoon | RIRC100 | 713162 | 6712198 | 511 | 260 | ‐55 | 102 |
| Muldoon | RIRC101 | 713104 | 6711752 | 523 | 260 | ‐55 | 42 |
| Muldoon | RIRC102 | 713043 | 6711777 | 518 | 260 | ‐55 | 48 |
| Muldoon | RIRC103 | 713148 | 6711572 | 538 | 260 | ‐55 | 102 |
| Muldoon | RIRC104 | 713251 | 6711722 | 525 | 260 | ‐55 | 60 |
| Rowling | RIRC105 | 712067 | 6713149 | 521 | 260 | ‐55 | 108 |
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Quarterly Activities Report
For the Three Months Ended 31 December 2011
| Rowling | RIRC106 | 712105 | 6713161 | 524 | 260 | ‐55 | 108 |
|---|---|---|---|---|---|---|---|
| Rowling | RIRC107 | 712139 | 6713166 | 529 | 260 | ‐55 | 102 |
| Rowling | RIRC108 | 711825 | 6713744 | 511 | 250 | ‐55 | 78 |
| Evanston | RIRC109 | 733829 | 6712113 | 497 | 330 | ‐55 | 90 |
| Evanston | RIRC110 | 733693 | 6712064 | 483 | 150 | ‐55 | 126 |
| Evanston | RIRC111 | 734399 | 6712339 | 485 | 310 | ‐55 | 78 |
| Evanston | RIRC112 | 734353 | 6712521 | 492 | 130 | ‐55 | 90 |
| Dang | RIRC113 | 729289 | 6717477 | 482 | 250 | ‐55 | 90 |
| Dang | RIRC114 | 729073 | 6717020 | 472 | 260 | ‐55 | 96 |
| Lange | RIRC115 | 727267 | 6715585 | 477 | 260 | ‐55 | 108 |
| Lange | RIRC116 | 727336 | 6715665 | 474 | 260 | ‐55 | 60 |
| Lange | RIRC117 | 727491 | 6715792 | 487 | 260 | ‐55 | 60 |
| Lange | RIRC118 | 727783 | 6715925 | 492 | 260 | ‐55 | 108 |
| Rowling | RIRC119 | 711031 | 6716928 | 476 | 290 | ‐55 | 84 |
| Shipley | RIRC120 | 710556 | 6718604 | 484 | 110 | ‐55 | 60 |
| Shipley | RIRC121 | 710477 | 6718830 | 490 | 95 | ‐55 | 72 |
| Shipley | RIRC122 | 710369 | 6719512 | 495 | 290 | ‐55 | 84 |
| Shipley | RIRC123 | 710463 | 6719692 | 503 | 260 | ‐55 | 66 |
| Shipley | RIRC124 | 710036 | 6722343 | 471 | 260 | ‐55 | 54 |
| Shipley | RIRC125 | 709731 | 6723075 | 475 | 260 | ‐55 | 48 |
| Rowling | RIRC126 | 712027 | 6715814 | 489 | 260 | ‐55 | 60 |
| Rowling | RIRC127 | 712136 | 6715904 | 495 | 250 | ‐55 | 48 |
| Rowling | RIRC128 | 712284 | 6715196 | 495 | 250 | ‐55 | 60 |
| Rowling | RIRC129 | 712397 | 6715135 | 487 | 70 | ‐55 | 60 |
| Rowling | RIRC130 | 712427 | 6715134 | 489 | 70 | ‐55 | 42 |
| Rowling | RIRC131 | 711738 | 6714496 | 516 | 240 | ‐55 | 78 |
| Rowling | RIRC132 | 712521 | 6714840 | 485 | 150 | ‐55 | 60 |
| Rowling | RIRC133 | 712155 | 6714377 | 501 | 300 | ‐60 | 54 |
| Rowling | RIRC134 | 712217 | 6714220 | 488 | 270 | ‐60 | 48 |
| Rowling | RIRC135 | 712651 | 6713626 | 498 | 240 | ‐55 | 60 |
| Bolger | RIRC136 | 719634 | 6710641 | 495 | 340 | ‐55 | 80 |
| Bolger | RIRC137 | 719831 | 6710823 | 487.6 | 340 | ‐55 | 60 |
| Bolger | RIRC138 | 719609 | 6709985 | 486.7 | 310 | ‐55 | 78 |
| Bolger | RIRC139 | 719053 | 6711046 | 489.6 | 160 | ‐55 | 78 |
| Olger | RIRC140 | 721804 | 6711091 | 480.4 | 35 | ‐55 | 78 |
| Olger | RIRC141 | 721354 | 6711845 | 495.1 | 35 | ‐55 | 90 |
| Olger | RIRC142 | 720979 | 6711248 | 470 | 35 | ‐55 | 9 |
Coordinates : MGA94 Zone 50
==> picture [129 x 11] intentionally omitted <==
==> picture [596 x 10] intentionally omitted <==
Appendix 5B Mining exploration entity quarterly report
Appendix 5B
Mining exploration entity quarterly report
Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.
Name of entity
Radar Iron Limited
| ABN 15 146 455 576 |
Quarter ended (“current quarter”) |
|---|---|
| 15 146 455 576 | 31 December 2011 |
Consolidated statement of cash flows
| Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration and evaluation (b) development (c) production (d) administration 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other (provide details if material) Net Operating Cash Flows |
Current quarter $A’000 |
Year to date (6 months) $A’000 |
|---|---|---|
| - (1,401) - - (245) - 43 - - - |
- (2,565) - - (570) - 89 - - - |
|
| (1,603) | (3,046) | |
| 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) – Cash acquired on acquisition of subsidiary Net investing cash flows 1.13 Total operating and investing cash flows (carried forward) |
- - (5) - - - - - - |
(1,000) - (5) - - - - - - |
| (5) | (1,005) | |
| (1,608) | (4,051) |
Appendix 5B Mining exploration entity quarterly report
| 1.13 Total operating and investing cash flows (brought forward) |
(1,608) | (4,051) |
|---|---|---|
| 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 1.19 Other - Capital Raising Costs |
2,485 - - - - (168) |
2,565 - - - - (190) |
| Net financing cash flows | 2,317 | 2,375 |
| Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end of quarter |
709 1,858 - |
(1,676) 4,243 - |
| 2,567 | 2,567 |
Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities
| 1.23 1.24 |
Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10 |
Current quarter $A'000 |
|---|---|---|
| 100 | ||
| Nil | ||
| 1.25 | Explanation necessaryfor an understandingof the transactions | |
| Amounts paid to directors includes salaries and wages for director services. |
Non-cash financing and investing activities
-
2.1
-
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
Financing facilities available
Add notes as necessary for an understanding of the position.
| 3.1 Loan facilities 3.2 Credit standby arrangements |
Amount available $A’000 |
Amount used $A’000 |
|---|---|---|
| - | - |
|
| - | - |
Appendix 5B Mining exploration entity quarterly report
Estimated cash outflows for next quarter
| Estimated cash outflows for next quarter | |
|---|---|
| 4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration |
$A’000 |
| 900 | |
| - | |
| - | |
| 150 | |
| Total | 1,050 |
Reconciliation of cash
| Reconciliation of cash | ||
|---|---|---|
| Reconciliation of cash at the end of the quarter (as shown 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 5.2 Deposits at call 5.3 Bank overdraft 5.4 Other (provide details) |
2,567 | 858 |
| - | 1,000 | |
| - | - | |
| - | - | |
| Total: cash at end of quarter(item 1.22) | 2,567 | 1,858 |
Changes in interests in mining tenements
| 6.1 Interests in mining tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements acquired or increased |
Tenement reference | Nature of interest (note (2)) |
Interest at beginning of quarter |
Interest at end of quarter |
|---|---|---|---|---|
Appendix 5B Mining exploration entity quarterly report
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 per security (see note 3) (cents) |
Amount paid up per security (see note 3) (cents) |
|
|---|---|---|---|---|
| 7.1 Preference+securities (description) 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs,redemptions |
||||
| 7.3 +Ordinary securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs |
71,162,129 | 48,346,517 | ||
| 8.282,017 | 8.282,017 | $0.30 | $0.30 | |
| 7.5 +Convertible debt securities(description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted |
||||
| 7.7 Options (description and conversion factor) Total 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter |
24,626,704 20,375,000 2,375,000 300,000 39,364,773 |
24,626,704 - - - - |
Exercise price 45 cents 25 cents 30 cents 45 cents |
Exercise date 30/04/12 30/11/13 31/05/14 31/07/14 |
| 4,000,000 | 4,011,931 | 45 cents | 30/04/12 | |
| 7.11 Debentures (totals only) |
||||
| 7.12 Unsecured notes (totals only) |
Appendix 5B Mining exploration entity quarterly report
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 4).
- 2 This statement does give a true and fair view of the matters disclosed.
Sign here: (Director/ Company secretary )
Date: 31 January 2012
Print name: Phillip Wingate
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: Cash Flow Statements apply to this report.
5 Accounting Standards ASX will accept, for example, the use of International Accounting 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.