ZEOTECH LIMITED — Interim / Quarterly Report 2021

Oct 26, 2021

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27 October 2021

QUARTERLY ACTIVITIES REPORT Quarter Ended 30 September 2021

Emerging mineral processing technology company, Zeotech Limited (ASX: ZEO, “Zeotech” or “the Company”) provides the following quarterly update and commentary for the September 2021 quarter.

HIGHLIGHTS

• Griffith University agronomic studies deliver promising results;

• Collaboration targets global Mycotoxin animal feed additives industry; and

• Zeotech to acquire one of Australia’s highest grade kaolin projects held within an approved mining lease.

SYNTHETIC ZEOLITE MINERAL PROCESSING TECHNOLOGY

Griffith University agronomic studies deliver promising results

On 6 September 2021, the Company announced that it had received promising results from agronomic studies undertaken by Griffith University (“GU”). The results follow a nine-month GU research program (“Pilot”) that commenced in November 2020, titled Exploring Agricultural Applications for Synthetic Zeolites[1] .

GU’s nine-month Pilot trial revealed that there is considerable potential to develop Zeotech products that offer solutions for large-scale agricultural challenges. The results provide confidence in the use of synthetic zeolites to develop an economically compelling fertiliser delivery platform, which offers multiple adjunct benefits including the potential for CO2 sequestration, as well as the application of synthetic zeolites as an agricultural pollutant treatment.

Highlights:

• GU’s Pilot results highlight significant potential for development of Zeotech products;

• The agronomic studies showed that synthetic zeolites were capable of:

• High nutrient retention and exceptionally high phosphorus retention;

• Pesticide removal and compound breakdown;

• Enhanced moisture retention; and

• Decreased soil acidification;

• Zeotech to progress a follow up, comprehensive GU research program; and

• Initial results and follow up study to underpin product development initiatives allowing Zeotech to target major commercial opportunities.

1 Refer to ASX announcement 28/09/2020 “Exploring Agricultural Applications for Synthetic Zeolites”

www.zeotech.com.au

Zeotech Limited | ASX: ZEO

ACN 137 984 297 Level 27, Santos Place, 32 Turbot Street, Brisbane QLD 4000 P: +61 7 3181 5523 | E: info@zeotech.com.au

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In November 2020, Zeotech engaged Griffith University to undertake a preliminary scoping project to explore potential agricultural applications for a range of synthetic zeolite products, which are under development using proprietary mineral processing technology from The University of Queensland (“UQ”).

The objective of the GU Pilot trial was to evaluate the effectiveness of Zeotech’s synthetic zeolites for a range of agricultural applications including:

• a) Intercepting and retaining nutrients (particularly nitrate, ammonium, and phosphate) associated with agricultural runoff;

• b) Incorporation into soils as an amendment to improve crop/pasture growth in the critical establishment phase of agronomic production systems; and

• c) Acting as a substrate to facilitate removal of agricultural pesticides from runoff and soils.

The Pilot formed part of GU’s wider research program to investigate opportunities harnessing zeolites to help agronomic systems cope with emerging challenges, including fertiliser resource scarcity and increasingly difficult growing conditions wrought by changing climates.

The outcomes of the Pilot trial are very promising and support a more comprehensive agronomic research program that will underpin the development of Zeotech products for fertiliser delivery, incorporating carbon sequestration; and agricultural pollutant treatment.

Collaboration targets global Mycotoxin animal feed additives industry

On 13 July 2021, the Company announced it had provided a range of Type A molecular sieve zeolites to a leading Australian manufacturer of advanced animal feed additives, ‘Bioproton’, for in-vitro screening of mycotoxin binding, across seven toxins.

Zeotech and Bioproton will assess the initial test results to evaluate the potential of utilising synthetic zeolites to develop targeted mycotoxin binder product(s).

The Company provided 3A, 4A and 5A molecular sieve zeolites for the program, which will incorporate 7 mycotoxin tests across under 2 pH conditions (acid and neutral).

The global mycotoxin detoxifier additives market (binder/adsorbents) is valued at over AUD $1.1 billion and growing at 5% per annum[2] .

Mycotoxins are naturally occurring toxins produced by certain moulds (filamentous fungi), many of which have been implicated as chemical progenitors of toxicity in humans and animals and can be the source of various negative health effects. They can cause a toxic response (mycotoxicosis) when ingested posing a significant health danger to livestock, horses, companion animals, and humans.

The moulds that create mycotoxin (in animal feeds) develop on various foodstuffs, corn, grains, and various other crops. They can occur in the field (depending on weather conditions), after harvest (depending on conditions), during storage (improper storage), or on the food under warm and humid conditions - as a consequence of climate change, mycotoxins are increasing occurring.

2 DSM Presentation ‘DSM to add world leading animal nutrition and health business with acquisition of Eber Group’ June 2020

www.zeotech.com.au

Zeotech Limited | ASX: ZEO

ACN 137 984 297 Level 27, Santos Place, 32 Turbot Street, Brisbane QLD 4000 P: +61 7 3181 5523 | E: info@zeotech.com.au

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THE TOONDOON PROJECT

Zeotech to acquire one of Australia’s highest grade kaolin projects held within an approved mining lease

On 23 August 2021, the Company announced that it had executed a term sheet with Zilotech Holdings Pty Ltd (“Zilotech”) to acquire 100% of the issued capital in Kalotech Pty Ltd (“Kalotech”), which holds a legally binding exercised option to acquire the mining lease and exploration licences for the 28,000-hectare Toondoon Kaolin Project (“Toondoon”) located in Queensland, one of the highest-grade raw ore kaolin deposits in Australia.

Toondoon Kaolin Project overview:

When the transaction is completed, Zeotech will hold 100% of the Toondoon project and associated licences, including ML 80016, EPM 27395 and EPMa 27866 through its ownership of Kalotech. The project is one of the highest-grade kaolin deposits in Australia. It is located approximately 20 kilometres south of Munduberra, Queensland and spans over 28,000 hectares.

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Image: Drill hole locations (grades) on ML80016 and position of EPM27395 and EPMA27866

Toondoon raw ore kaolin grades in drill holes tabled (above) indicate the high-grade DSO quality kaolin is open to the west within the approved mining lease and remains open into EPM 27395 and EPMa 27866.

Zeotech is confident additional drilling will prove up an increased high-grade kaolin resource over the project’s 28,000-hectare footprint.

www.zeotech.com.au

Zeotech Limited | ASX: ZEO ACN 137 984 297 Level 27, Santos Place, 32 Turbot Street, Brisbane QLD 4000 P: +61 7 3181 5523 | E: info@zeotech.com.au

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Compelling project attributes:

Geology:

Recent resource estimation test work at the Toondoon Mining Lease, ML 80126, has delivered an Indicated JORC 2012 Resource of:

White Kaolin Clay - 5.07Mt @ 37% Al2O3, 0.9% Fe2O3, 46.3% SiO2, Alumina/Silica Ratio of 0.80[3] .

The potential exists to expand the high-grade kaolin resource, which remains open in all directions.

High grade raw ore kaolin near surface:

The ML 80126 hosts five million tonnes of high-grade kaolin, with approximately one million tonnes of kaolin near surface, offering cost effective immediate access to direct shipping ore (DSO).

Recent testing indicates up to 76% ISO brightness on raw ore samples, increasing to 84.5% post elutriation. JORC confirms indicated resource of 37% Al2O3 over five million tonnes - providing Zeotech with access to some of the highest-grade raw ore kaolin in Australia.

The high alumina content will allow the ore to be highly suitable to a number of sectors including the white cement industry, refractories, and fibreglass manufacturing. The ISO brightness enables end-users to process DSO for paper, packaging, and coating markets.

Direct Shipping Ore (DSO) kaolin mining operation potential:

Toondoon’s near surface, high grade and low impurity raw kaolin is very amenable to low cost, open cut mining operations. Zeotech will initially progress a simple dig and ship operation to drive near term cash flow and offset future development operating expenditure.

Following the completion of recent test work indicating high alumina, low iron and scale brightness, the Company is confident that ores will meet requirements across a number of potential markets. A number of samples have been sent to a marketing representative in mainland China, with early interest from end-user evident and potential sales agreements expected in the near term.

Low-cost high-grade feedstock to expedite synthetic zeolite processing:

The Toondoon Kaolin project approved mining lease offers Zeotech access to lower cost, high-grade kaolin. Raw ore from the project will not have to undergo sizing (wet/dry processing) to increase Al2O3 content and will provide immediate synthetic zeolite feedstock at a significantly lower cost to the Company’s existing Abercorn project.

This will allow Zeotech to significantly reduce operating expenditure and fast-track the production of synthetic zeolites.

3 Refer to ASX Announcement 23/8/2021 “Zeotech to Acquire one of Australia’s Highest Grade Kaolin Projects held within an Approved Mining Lease”

www.zeotech.com.au

Zeotech Limited | ASX: ZEO ACN 137 984 297 Level 27, Santos Place, 32 Turbot Street, Brisbane QLD 4000 P: +61 7 3181 5523 | E: info@zeotech.com.au

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Located in a tier one jurisdiction and well served by existing infrastructure:

Queensland provides a favourable operating jurisdiction for the Company. Toondoon is situated 220km from the Port of Bundaberg and 300km from the Port of Gladstone and has access to major highways across sealed roads. This will allow Zeotech to progress potential off-take agreements with a number of parties in key international markets.

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Image: Toondoon Project Logistics and Infrastructure

Immediate development pathway:

Zeotech will immediately progress a DSO marketing strategy to leverage the superior quality of Toondoon’s raw ore kaolin. The Company is in advanced discussions with a number of market representatives to progress direct sales to end-users across the Asian region. Additional testing is being undertaken on the asset, which will provide further optionality for the Company as it progresses its development strategy.

The University of Queensland (“UQ”) has undertaken testing on a number of high-grade kaolin samples from Toondoon, to implement ore into the Company’s proprietary zeolite mineral processing technology. Results of this work which commenced early 2021 confirm that Toondoon raw ore kaolin is an optimal feed.

The UQ test results confirm the implementation of high-grade raw ore kaolin feedstock held under approved mining lease will expedite the commercialisation process and reduce operating expenditure of the Company’s low-cost synthetic zeolite production technology.

www.zeotech.com.au

Zeotech Limited | ASX: ZEO ACN 137 984 297

Level 27, Santos Place, 32 Turbot Street, Brisbane QLD 4000 P: +61 7 3181 5523 | E: info@zeotech.com.au

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THE ABERCORN PROJECT

The Abercorn Project is a large-scale kaolin prospect, located in central Queensland and has demonstrated it contains a resource of significant scale, and a consistent grade of kaolinite mineralisation.

No on-groundwork was undertaken during the quarter.

KRAAIPAN PROJECT, BOTSWANA

Kraaipan Gold-Nickel-Copper-PGM Project

Zeotech’s 100% owned Kraaipan Gold-Nickel-Copper-PGM Project comprises Prospecting Licence, PL232/2016 and covers approximately 50-kilometre strike extent of the Kraaipan Greenstone Belt in southern Botswana.

No on-groundwork was undertaken during the quarter.

As previously reported, the Company did not seek renewal of the Prospecting Licence and PL 232/2016 expired on 30 September 2021. The Company has no other tenements or ongoing operations in Botswana.

CORPORATE

Acquisition of Kalotech Pty Ltd

As outlined above, on 23 August 2021 the Company announced that it had executed a term sheet with Zilotech Holdings Pty Ltd (“Zilotech”) to acquire 100% of the issued capital in Kalotech Pty Ltd (“Kalotech”).

The consideration for the acquisition of all of the issued share capital of Kalotech will be the issue of 37,000,000 fully paid ordinary shares in Zeotech ( Shares ) and reimbursement of costs up to $350,000 in relation to expenditures on ML80016, EPM27395 and EPMa27866 ( Acquisition ). The cash consideration will be paid from existing cash reserves of the Company.

Completion of the Acquisition is subject to the following conditions precedent:

• 1 Zeotech completing due diligence to its absolute satisfaction of all legal, financial, and technical aspects of the Toondoon deposit, the Mining Lease, EPM 27395, EPM 27866 and associated reports and agreements as well as full corporate due diligence of Kalotech by the date being 90 days from the date of the agreement;

• 2 Kalotech exercising its option and completing the sale and purchase of ML80016 and providing ZEO with copies of the completed sale documentation;

• 3 Zeotech receiving written confirmation from the ASX that ASX Listing Rule 11.1.2 does not apply to the Acquisition;

• 4 Zeotech obtaining all shareholder approvals required under ASX Listing Rules 10.1 and 10.11, Chapter 2E of the Corporations Act or any other approvals required by the ASX in relation to the Acquisition as soon as is practicable after satisfaction of condition precedent 6;

www.zeotech.com.au

Zeotech Limited | ASX: ZEO

ACN 137 984 297

Level 27, Santos Place, 32 Turbot Street, Brisbane QLD 4000 P: +61 7 3181 5523 | E: info@zeotech.com.au

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5 Zilotech providing written substantiation of all expenses incurred by Kalotech and which is to be reimbursed as cost reimbursement; and

• 6 written approval from Queensland Department of Resources for the transfer of ML80016 from the current registered holder to Kalotech being granted and the change in title being registered.

The company has received written confirmation from ASX that Listing Rule 11.1.2 and 11.1.3 do not apply to the Acquisition (satisfying condition 3).

The written approval of the Queensland Department of Resources to the transfer of the Kalotech tenements has been lodged but based on current advice written approval for the transfers could take up to 9 months to be received. On that basis Zeotech will not commence the process for obtaining shareholder approval until this condition precedent is satisfied.

It is proposed to obtain shareholder approval for the Acquisition and the issue of the share consideration pursuant to Listing Rules 10.1 and 10.11, in compliance with the disclosure requirements of Listing Rules 10.5 and 10.13. Approval under Chapter 2E of the Corporations Act will also be sought.

APPENDIX 5B – QUARTERLY CASH FLOW REPORT

The cash position of the Company on 30 September 2021 was $5.320million.

Details of mining exploration activities

Details of exploration activities during the quarter are set out above.

Exploration and evaluation expenditure for the quarter comprised Abercorn resource evaluation work $4,000 and rents, rates, tenement management and miscellaneous expenses $8,000. Other associated R&D project costs were $160,000.

Details of mining production and development activities

No production and development activities were undertaken during the quarter.

Details of related party payments

The aggregate amount of payments to related parties and their associates included in the current quarter Cash flows from operating activities were $94,000, comprising director salaries (inclusive of superannuation), directors fees and consulting fees.

This Announcement has been approved by the Board.

• End -

For further information please contact:

Peter Zardo – Managing Director peter@zeotech.com.au Tel: (+61) 7 3181 5523

Neville Bassett - Company Secretary info@zeotech.com.au Tel: (+61) 7 3181 5523

www.zeotech.com.au

Zeotech Limited | ASX: ZEO ACN 137 984 297

Level 27, Santos Place, 32 Turbot Street, Brisbane QLD 4000 P: +61 7 3181 5523 | E: info@zeotech.com.au

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About Zeotech

Zeotech Limited (ASX: ZEO) holds proprietary mineral processing technology developed by The University of Queensland, for the low-cost production of advanced materials ‘synthetic zeolites’ and aims to utilise their unique properties for a sustainable future.

The strategy focuses on the low-cost manufacture of molecular sieve synthetic zeolites for global markets. The Company is developing innovative environmental management solutions, which include cleantech for lithium refineries to commercially manage by-product residue and developing economically viable carbon capture and conversion solutions, underpinned by lowcost ‘adsorbents and catalysts’ manufactured using Zeotech’s patent-pending technology.

About Zeolites

Synthetic zeolites are manufactured aluminosilicate minerals with a sponge-like structure, made up of tiny pores (frameworks) that make them useful as catalysts or ultrafine filters. They are commonly known as molecular sieves and can be designed to selectively adsorb molecules or ions dependant on their unique construction.

Zeolites play an important role in a cleaner and safer environment.

• zeolites are an effective substitute for harmful phosphates in powder detergent, now banned in many parts of the world because of blue green algae toxicity in waterways;

• as catalysts, zeolites increase process efficiencies = decrease in energy consumption;

• zeolites can act as solid acids and reduce the need for more corrosive liquid acids;

• • zeolites adsorbent capabilities see them widely used in water treatment i.e., heavy metal removal including those produced by nuclear fission; and

• as redox catalyst sorbents, zeolites can help remove exhaust gases and CFC's.

No New Information

Except where explicitly stated, this announcement contains references to prior exploration results and Mineral Resource estimates, all of which have been cross-referenced to previous market announcements made by the Company. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements and, in the case of estimates of Mineral Resources that all material assumptions and technical parameters underpinning the results and/or estimates in the relevant market announcement continue to apply and have not materially changed.

Forward-looking Statements

This release may contain certain forward-looking statements with respect to matters including but not limited to the financial condition, results of operations and business of Zeotech and certainty of the plans and objectives of Zeotech with respect to these items.

www.zeotech.com.au

Zeotech Limited | ASX: ZEO ACN 137 984 297 Level 27, Santos Place, 32 Turbot Street, Brisbane QLD 4000 P: +61 7 3181 5523 | E: info@zeotech.com.au

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These forward-looking statements are not historical facts but rather are based on Zeotech current expectations, estimates and projections about the industry in which Zeotech operates, and its beliefs and assumptions.

Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates", "guidance" and similar expressions are intended to identify forward looking statements and should be considered an at-risk statement.

Such statements are subject to certain risks and uncertainties, particularly those risks or uncertainties inherent in the process of developing technology and in the endeavour of building a business around such products and services.

These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the control of Zeotech, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements.

Zeotech cautions shareholders and prospective shareholders not to place undue reliance on these forward-looking statements, which reflect the view of Zeotech only as of the date of this release. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. Zeotech will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

Tenement Information as required by Listing Rule 5.3.3

The following is a table setting out the information as required by ASX Listing Rule 5.3.3, namely:

1. Mining tenements held at the end of the Quarter and their location;

2. Mining tenements disposed during the Quarter and location; 3. Beneficial percentage interests held in farm-in or farm-out agreements at end of Quarter; and

3. Beneficial percentage interests held in farm-in or farm-out agreements acquired or disposed of during the Quarter.

		Interest at	Interests	Interests	Interest at
		beginning of	relinquished,	acquired or	end of
Location	Tenement	quarter	reduced or	increased	quarter
		(%)	lapsed (%)	(%)	(%)
Australia	EPM 19081	100%	Nil	Nil	100%
Australia	EPM 26837	100%	Nil	Nil	100%
Australia	EPM 26903	100%	Nil	Nil	100%
Australia	EPM 27427	100%	Nil	Nil	100%
Botswana	PL232/2016	100%	100%	Nil	Nil

www.zeotech.com.au

Zeotech Limited | ASX: ZEO ACN 137 984 297 Level 27, Santos Place, 32 Turbot Street, Brisbane QLD 4000 P: +61 7 3181 5523 | E: info@zeotech.com.au

Rule 5.5

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Name of entity ZEOTECH LIMITED ABN Quarter ended (“current quarter”) 29 137 984 297 30 SEPTEMBER 2021

Consolidated statement of cash flows	Current quarter $A’000	Year to date (3 months) $A’000
1. Cash flows from operating activities 1.1 Receipts from customers 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) staff costs (e) administration and corporate costs 1.3 Dividends received (see note 3) 1.4 Interest received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Government grants and tax incentives 1.8 Other (Technology expenses) 1.9 Net cash from / (used in) operating activities	- (12) - - (142) (185) - 3 - - - (160)	- (12) - - (142) (185) - 3 - - - (160)
	(496)	(496)
2. Cash flows from investing activities 2.1 Payments to acquire or for: (a) entities (b) tenements (c) property, plant and equipment (d) exploration & evaluation (e) investments (f) other non-current assets	- - (3) - - (31)	- - (3) - - (31)

ASX Listing Rules Appendix 5B (17/07/20) + 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 (3 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	- - - - - - - -	- - - - - - - -
	(34)	(34)
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) - - - - -	- - - (4) - - - - -
	(4)	(4)
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)	5,854 (496) (34) (4)	5,854 (496) (34) (4)

ASX Listing Rules Appendix 5B (17/07/20) + 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 (3 months) $A’000
4.5 Effect of movement in exchange rates on cash held 4.6 Cash and cash equivalents at end of period	-	-
	5,320	5,320
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)	2,320 3,000 - -	2,854 3,000 - -
	5,320	5,854
6. Payments to related parties of the entity and their associates		Current quarter $A'000
6.1 Aggregate amount of payments to related parties and their associates included in item 1 94 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 include a description of, and an explanation for, such payments.		94
		-

ASX Listing Rules Appendix 5B (17/07/20) + 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. 7.1 7.2 7.3 7.4 7.5 7.6	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 Loan facilities - - Credit standby arrangements - - Other (please specify) - - Total financing facilities - - Unused financing facilities available at quarter end - 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
		-	-
		-	-
		-	-
		-	-
	N/A

8.	Estimated cash available for future operating activities	$A’000
8.1 8.2 8.3 8.4 8.5 8.6 8.7 8.8	Net cash from / (used in) operating activities (item 1.9) (496) (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) - Total relevant outgoings (item 8.1 + item 8.2) (496) Cash and cash equivalents at quarter end (item 4.6) 5,320 Unused finance facilities available at quarter end (item 7.5) - Total available funding (item 8.4 + item 8.5) 5,320 Estimated quarters of funding available (item 8.6 divided by item 8.3) 10.73 Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. If item 8.7 is less than 2 quarters, please provide answers to the following questions: 8.8.1 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?	(496) - (496) 5,320 -
		5,320
	Answer: N/A
	8.8.2 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

ASX Listing Rules Appendix 5B (17/07/20) + 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

8.8.3 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

Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered.

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.

Date: 27 October 2021

Authorised by: By the Board

(Name of body or officer authorising release – see note 4)

Notes

1. 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.

2. 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.

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. 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”.

5. 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 (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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