Announcement PDF For the quarter ending 30 September 2023 1 Quarterly Report For the quarter ending 30 September 2023 mtmcriticalmetals.com MTM Critical Minerals Ltd ABN 27 645 885 463 ASX Code: MTM MTM Critical Metals Limited is an exploration company focused on rare earth elements in Québec and. Western Australia. Highlights • Diamond drilling program completed at the Pomme REE-Nb Project, Québec o 13 drill holes, 5,718m of drilling • REE-Nb mineralisation observed over >2km2 area of carbonatite complex • Significant intersections included o Hole POM-23-03 : 398m @ 0.54% TREO (5,400ppm) and 0.05% Nb2O5 from 16m. o Hole POM-23-01: 513m @ 0.33% TREO & 0.08% Nb2O5 from 32m o Hole 23-05: 276m @ 0.37% TREO & 0.08% Nb2O5 from 225m o Hole POM-23-04: 266.2m @ 0.22% TREO & 0.04% Nb2O5 from 36.8m • Extensive new REE and nickel geochemical anomalies identified in soil sampling program at the East Laverton Project. For the quarter ending 30 September 2023 2 Pomme Rare Earths-Niobium Project Québec, Canada The Pomme REE-Nb Project (Pomme or the Project) is a known carbonatite intrusion located in south-western Québec, Canada (Figure 1). The Project has exceptional results from a recently completed drilling program, showing enrichment in rare earth elements (REE) and niobium (Nb) and is considered to be an extremely prospective exploration target. Pomme is located adjacent to the world-class Montviel REE-Nb deposit (owned by Geomega Resources Inc), that has a defined total indicated and inferred resource of 266 million tonnes (Mt) @ 1.45% TREO & 0.14% Nb2O5. MTM has entered into a binding option agreement with Geomega Resources to acquire a 100% interest in the Pomme claims and is now advancing exploration at Pomme to discover a REE-Nb resource. Figure 1. Pomme REE-Nd Project location. For the quarter ending 30 September 2023 3 Diamond drilling program completed In July, MTM resumed drilling at the Pomme Project after the program was suspended due to nearby forest fires. In September, the Company announced it had completed the 13-hole program over 5,718m including areas that have not previously been tested. Visual REE mineralisation was identified in all drill holes, indicating a very large mineralised system within the Pomme carbonatite complex, over a >2km2 area extending more than 1km to the north and east of the first drill hole1. Figure 2: Diamond drill rig operational on hole POM-23-13 at the Pomme project, August 2023. Visible REE mineralisation was observed in all rock types, in varying abundance, within the carbonatite complex. The REE mineralisation has been identified by the geologists on-site, who have extensive prior experience with the geology of the Montviel REE-Nb deposit located approximately 7 km south of Pomme. Their observations have been routinely cross-checked using a hand-held pXRF device, which has confirmed the presence of REE’s. The mineralisation, which is tentatively identified as the fluoro-carbonate minerals cebaite (Ba3(Nd,Ce)2(CO3)5F2) and/or bastnaesite ((La,Ce,Y)CO3F), has a very distinct red colour and is easily distinguished in the drill core. Monazite ((La,Ce,Nd)PO4), a brownish phosphate REE mineral, also occurs frequently and apatite enriched in REE was locally logged within specific carbonatite layers. The mineralisation occurs as medium to coarse-grained disseminations and blebs. Assay results were progressively received for the Pomme drilling from September. Significant intersections include:  Hole POM-23-03 : 398m @ 0.54% TREO* (5,400ppm) and 0.05% Nb2O5 from 16m, including: 30.5m @ 1.13% TREO & 0.03% Nb2O5 (from 311.5m), and 51m @ 0.92% TREO & 0.06% Nb2O5 (from 216m), and 36m @ 0.92% TREO & 0.06% Nb2O5 (from 174m)  Hole POM-23-01: 513m @ 0.33% TREO & 0.08% Nb2O5 from 32m, including: 131m @ 0.47% TREO & 0.05% Nb2O5 (from 317m), and 43.4m @ 0.45% TREO & 0.12% Nb2O5 (from 216.1m) 1 Refer MTM ASX announcement dated 28 July 2023 Diamond Drilling at Pomme Ree-Nb Project Extends Known Mineralised Zones For the quarter ending 30 September 2023  Hole POM-23-05: 276m @ 0.37% TREO & 0.08% Nb2O5 from 225m, including: 9.0m @ 0.94% TREO & 0.02% Nb2O5 (from 226.5.5m), and 57m @ 0.47% TREO & 0.10% Nb2O5 (from 375m), and 63.5m @ 0.48% TREO & 0.06% Nb2O5 (from 437.5m to EOH)  Hole POM-23-04: 266.2m @ 0.22% TREO & 0.04% Nb2O5 from 36.8m, including: 39.5m @ 0.46% TREO & 0.05% Nb2O5 (from 79m) * TREO – Total rare earth element oxide Assay results confirm the visual mineralisation and show that abundant rare earth element and niobium mineralisation is widespread throughout the carbonatite complex. Broad zones of mineralisation contained significant higher-grade zones of rare earth mineralisation and contained consistently elevated percentages of higher value magnet rare earths neodymium and praseodymium (NdPr). Drilling is successfully showing how the geology of the carbonatite controls the distribution of mineralisation (Figure 3). Results show that the Pomme carbonatite complex has the geological potential to host a resource of significant scale. Figure 3: Diamond drilling status at the Pomme project showing historical and current diamond drill hole collar locations. 4 For the quarter ending 30 September 2023 5 Further work Geological logging and sampling of the diamond drill core has been completed and samples have been submitted for assay. The technical team will be interpreting a 3-dimensional model of the Pomme carbonatite and evaluating the most prospective part of the target for coherent zones of high-grade mineralisation. These areas will be prioritised for further drilling follow-up. As additional drill core becomes available, the Company is also assessing the initial metallurgical test work program that can be undertaken to assess the mineralogy of the deposit, leaching characteristics and a possible processing workflow. Figure 4: Diamond drill core (NQ, approximately 4.8 cm diameter) containing strong REE mineralisation (red coloured disseminations to semi-massive) within ferrocarbonatite/calciocarbonatite host rock. Hole POM-23-03, 173m downhole depth. New deal to expand MTM’s REE-Nb acreage in Canada Subsequent to the end of the quarter, MTM announced it had bolstered its portfolio of highly prospective REE-Nb targets in southern Quebec, Canada, entering into a second binding option agreement with Geomega Resources Inc. to acquire a 100% interest in the Montviel South Project. The new project is located 10km south of MTM’s Pomme Project. For the quarter ending 30 September 2023 6 East Laverton Rare Earths Project Western Australia, Australia The East Laverton Project covers 2,500km2 in the prolific Eastern Goldfields region of Western Australia and hosts an emerging district-scale REE mineralisation opportunity at Point Kidman in the north of the project as well as gold and base metals anomalies at Seahorse in the south. Soil survey completed During the reporting period the Company completed an extensive surface geochemical sampling program at its East Laverton Project, which identified several new broad rare earth element anomalies at the Point Kidman prospect, and further nickel anomalies at the Seahorse prospect. Point Kidman is proving to have district-scale, clay-hosted REE mineralisation potential with numerous kilometre-scale, coherent REE anomalies defined over a prospect area covering a total area in excess of 200km2 (Figure 6). Previous aircore drilling of anomalous areas have indicated the presence of significant thicknesses and grades of clay-hosted REE2 which are interpreted to be related to fertile basement granite and granite-gneiss rocks that have a preserved weathering profile. Figure 5: East Laverton Project location diagram showing prospect areas. The geochemical sampling comprised around 3,400 samples collected on a grid spacing of 200m x 1,000m at the Point Kidman REE prospect, and 200m x 400m at the Seahorse nickel prospect. 2 Refer MTM ASX announcement dated 15 May 2023 Drilling confirms further rare earth element mineralisation and increased potential at East Laverton For the quarter ending 30 September 2023 7 Figure 6: Gridded image of Total REE surface geochemistry results showing the location of soil samples and drilling at the Point Kidman prospect. The newly identified nickel anomaly at the Seahorse prospect (Figure 7) extends over an area of 2km x 2km, indicating that there are likely to be further ultramafic units within the bedrock gneisses. These units may have also developed laterite nickel mineralisation, similar to the area drilled by MTM several kilometres to the east. Further work Subject to obtaining statutory approvals and heritage clearances from the local Native Title holders, additional drilling will be undertaken to test the new REE geochemical anomalies that have been identified. The Company will also consider a further program of infill and extensional drilling at the Seahorse nickel prospect to define the extent of the nickel laterite mineralisation and determine if it contains potential for a nickel-cobalt resource. A suitable ground-based electromagnetic (EM) survey may be undertaken to determine if there are any significant conductors along the strike of the ultramafic unit that could be indicative of deeper sulfide drilling targets. For the quarter ending 30 September 2023 Figure 7: Gridded image of nickel surface geochemistry results showing the location of soil samples and drilling at the Seahorse prospect (overlaid on TMI magnetic image). 8 For the quarter ending 30 September 2023 9 Ravensthorpe Project Western Australia, Australia The Ravensthorpe Project covers 11 exploration licences in Western Australia’s Albany-Fraser Orogen is prospective for a suite of battery metals, including lithium, graphite, nickel-copper-PGE, REE and gold mineralisation. There are numerous active mining operations, project developments and exploration projects in the region. Regionally, the basement rocks in the area are referred to as the Munglinup Gneiss, a complex package of Archean rocks including granites and greenstone remnants that have been strongly overprinted by later Proterozoic deformation and metamorphism. No fieldwork was completed at the Ravensthorpe project during the quarter. The Company is continuing to assess effective exploration techniques and a strategy to obtain access to priority exploration areas. Figure 8: Ravensthorpe Project location map showing tenement locations, major nickel, gold, base metal, lithium and graphite mining operations and development projects. For the quarter ending 30 September 2023 10 Mt Monger Project Western Australia, Australia The Mt Monger Gold Project is centred approximately 45km east-northeast of Kambalda and 70km to the southeast of Kalgoorlie-Boulder, within the Goldfields Region of Western Australia. The project comprises six granted exploration licences, two pending exploration licenses and three granted prospecting licences, covering an area of about 100km2. The Mt Monger region has proven potential for hosting gold, with gold mining commencing in the area during the late 1890s and continuing to the present day. The Mt Monger Gold Project is within close proximity to Gold Fields Limited’s (JSE:GFI) St Ives gold camp and adjacent to the Silver Lake Resources Ltd (ASX:SLR) Daisy Milano gold operation and their currently operating 1.2Mtpa Randalls gold processing facility. Lefroy Exploration Limited (ASX:LEX, Lefroy) has experienced recent exploration success at their Burns Prospect, located to the south of the Mt Monger Gold Project. No fieldwork was completed at the Mt Monger project during the quarter. The Company is currently assessing strategic options for this project. Figure 9: Location diagram of the Mt Monger Project showing tenements and known gold occurrences. For the quarter ending 30 September 2023 11 Corporate Cash Position At 30 September 2023, cash at bank totalled ~$880,000. During the quarter, the Company incurred expenditure on operating activities (including all employee costs) of $362,000 and exploration costs of $1,321,000 which included drilling activities in Canada and East Laverton. The Company had 98,880,053 Shares (MTM), 52,830,875 listed options (MTMO), 10,250,000 unlisted options and 700,000 unlisted performance rights on issue at 30 September 2023. During the quarter, 500,000 performance rights were exercised and converted to shares. Subsequently to the quarter-end, 457,033 shares were issued to Geomega Resources, Inc. in relation to the acquisition of the Montviel South Project in Québec, Canada. ASX Additional Information Exploration Activities ASX Listing Rule 5.3.1: Total exploration expenditure for the September 2023 Quarter was $1.32 million (refer Item 2.1(d) of the accompanying Appendix 5B) compared to $0.54 million in the previous quarter. Drilling operations in Canada were managed by a contractor, Kintavar Exploration, Inc, which was engaged on a project basis to plan and manage the exploration activities at the Pomme Project. The drill rig was demobilised from Pomme before the end of September 2023 and Kintavar’s activities have reduced with the decommissioning of the drill camp and completion of the core logging. The Company is keeping operating costs to a minimum with limited staff engaged. Mine Production Activities ASX Listing Rule 5.3.2: There were no mine production or development activities conducted during the Quarter. Payments to Related Parties ASX Listing Rule 5.3.5: The aggregate amount of payments to related parties and their associates for the September quarter of $125,000 (refer Item 6 of the accompanying Appendix 5B) related to director salaries and fees along with rental and administration services. Release of Escrow Securities In accordance with ASX Listing Rule 3.10A, the following securities were released from escrow during the quarter: Date Description Release date 8,022,500 Fully paid ordinary shares 15 July 2023 New Director appointed with extensive REE experience In July, MTM announced it had appointed Mr Anthony Hadley to the Board as a Non-Executive Director. Mr Hadley is a metallurgist, REE technical expert and a senior manager with more than 30 years of experience in the mining industry in operations, technical development of complex metallurgical flowsheets, project design and management, engineering and process plant commissioning. For the quarter ending 30 September 2023 12 Mr Hadley has worked extensively in the REE sector, having previously held the roles of General Manager with both Lynas Corporation (ASX:LYC) at the world-class Mt Weld light REE mine and subsequently with Northern Minerals Limited (ASX:NTU) at Australia’s first heavy REE mine at Browns Range. Most recently, Mr Hadley was appointed as the Chief Operating Officer by Cheetah Resources Corporation (a subsidiary of Vital Metals Limited, ASX:VML), accountable for all operational activities at the Nechalacho REE Project in Canada. Under his management, Cheetah Resources commenced rare earth oxide mining and ore sorting at Nechalacho, which is Canada’s first and North America’s second REE miner. Release authorised by the Board of MTM Critical Metals Ltd. For more information, please contact: Lachlan Reynolds Managing Director Phone: +61 8 6391 0112 lachlan.reynolds@mtmmetals.com Simon Adams CFO / Company Secretary Phone +61 439 845 435 simon.adams@mtmmetals.com.au For the quarter ending 30 September 2023 13 Tenement Interests Project location Tenement Reference Status Equity at 30 Jun 2023 Equity at 31 Sep 2023 E 25/525 Live 100% 100% E 25/531 Live 100% 100% E 25/532 Live 100% 100% E 25/536 Live 100% 100% E 25/562 Live 80% 80% E 25/565 Live 100% 100% E 25/597 Dead - - E 25/603 Pending - - P 25/2489 Live 100% 100% P 25/2490 Live 100% 100% P 25/2568 Live 80% 80% E 38/3302 Live 100% 100% E 38/34623 Live 51% 51% E 38/3466 3 Live 51% 51% E 38/3499 3 Changes during the quarter Western Australia, Australia Mt Monger Project East Laverton Project Ravensthorpe Project Withdrawn Live 51% 51% E 38/3506 Live 100% 100% E 38/3507 Live 100% 100% E 38/3509 Dead 100% - E 38/3510 Live 100% 100% E 38/3511 Live 100% 100% E 38/3765 Live 100% 100% E 39/2218 Dead 100% - Surrendered E 39/2219 Dead 100% - Surrendered E 63/2146 Live 100% 100% E 70/5942 Live 100% 100% E 74/618 Live 100% 100% E 74/692 Live 100% 100% E 74/696 Live 100% 100% E 74/700 Live 100% 100% E 74/701 Live 100% 100% E 74/703 Live 100% 100% E 74/723 Live 100% 100% E 74/725 Pending - - E 74/726 Live 100% 100% E 74/727 Live 100% 100% Surrendered Tevel Pty Ltd (Tevel) is the registered holder of E38/3462, E38/3466 and E38/3499; MTM has entered into a Farm-In agreement with Tevel to earn up to a 75% interest in the tenements. 3 For the quarter ending 30 September 2023 Project location Project location Tenement Reference Tenement Reference 14 Status Status Equity at 30 Jun 2023 Equity at 30 Jun 2023 Equity at 31 Sep 2023 Equity at 31 Sep 2023 - 100% 100% 100% 100% 100% 100% 100% Changes during the quarter Changes during the quarter Quebec, Canada Pomme Project CDC121 CDC122 CDC1005980 CDC1005982 CDC1005983 CDC2234423 CDC2234424 CDC2234425 CDC2234426 CDC2234427 CDC2234428 CDC2234429 CDC2234430 CDC2234431 CDC2234432 CDC2234433 CDC2240300 CDC2240301 CDC2240302 CDC2240303 CDC2240304 CDC2240305 CDC2240306 CDC2240307 CDC2240309 CDC2240310 CDC2240311 CDC2240312 CDC2240313 CDC2458316 CDC2458327 CDC2458328 CDC2458329 CDC2458330 CDC2458331 CDC2458332 CDC2458333 CDC2458334 CDC2458345 CDC2458346 CDC2458349 CDC2522460 CDC2598360 CDC2754413 CDC2754414 CDC2757444 CDC2757445 CDC2757446 CDC2784081 CDC2784082 Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Granted Granted Granted Granted Granted Granted Granted For the quarter ending 30 September 2023 Project location Montviel South Project Tenement Reference CDC112 CDC94141 CDC1105928 CDC2458312 CDC2458313 CDC2458317 CDC2458318 CDC2458319 CDC2458320 CDC2458321 CDC2783265 CDC2783266 CDC2783267 CDC2783268 CDC2783269 CDC2783270 CDC2783271 CDC2783272 CDC2783273 CDC2783274 15 Status Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Equity at 30 Jun 2023 - Equity at 31 Sep 2023 - Changes during the quarter Geomega Resources Inc is the registered holder of the Pomme claims and the Montviel South claims. MTM has entered into an option agreement with Geomega to earn up to a 100% interest in the claims. For the quarter ending 30 September 2023 16 Company Profile MTM Critical Metals Limited is an exploration company which is focused on searching for rare earth elements (REE), gold, lithium, nickel, and base metals in the Goldfields and Ravensthorpe districts of Western Australia and in the Abitibi region of the Province of Québec. The Company holds over 3,500km2 of tenements in three prolific and highly prospective mineral regions in Western Australia and has an option to acquire, through an earn-in arrangement, a 100% interest in 2,400 ha of exploration rights in Québec, Canada. The East Laverton Projects is made up of a regionally extensive package of underexplored tenements prospective for REE, gold and base metals. The Mt Monger Gold Project comprises an area containing known gold deposits and occurrences in the Mt Monger area, located ~70km SE of Kalgoorlie and immediately adjacent to the Randalls gold mill operated by Silver Lake Resources Limited. The Ravensthorpe Project contains a package of tenements in the southern part of Western Australia between Esperance and Bremer Bay which are prospective for a range of minerals including REE, lithium, nickel and graphite. The Pomme project in Québec is a known carbonatite intrusion that is enriched in REE and niobium and is considered to be an extremely prospective exploration target adjacent to a world class REE resource (Montviel deposit). Priority drilling targets have been identified in all project areas and the Company is well funded to undertake effective exploration programs. The Company has an experienced Board and management team which is focused on discovery to increase value for Shareholders. For the quarter ending 30 September 2023 17 Important Notices Competent Person’s Statement The information in this announcement that relates to Exploration Results is based on and fairly represents information compiled by Mr Lachlan Reynolds. Mr Reynolds is the Managing Director of MTM Critical Metals Limited and is a member of both the Australasian Institute of Mining and Metallurgy and the Australasian Institute of Geoscientists. Mr Reynolds has sufficient experience of relevance to the styles of mineralisation and types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Reynolds consents to the inclusion in this announcement of the matters based on information in the form and context in which they appear. Previous Disclosure The information in this announcement is based on the following MTM Critical Metals Limited (formerly Mt Monger Resources Limited) ASX announcements, which are all available from the MTM Critical Metals Limited website www.mtmcriticalmetals.com.au and the ASX website www.asx.com.au. The following announcements were lodged on the ASX Market Announcements Platform during the quarter: Date Description 4 July 2023 6 July 2023 14 July 2023 20 July 2023 28 July 2023 31 July 2023 4 Sept 2023 28 Sept 2023 29 Sep 2023 Pomme Ree Drilling Update REE Soil Sampling at East Laverton to Extend Mineralised Area Pomme REE-Nb Drilling to Recommence Appointment of New Director with REE Experience Drilling extends REE-Nb Mineralised Zones Quarterly Activities/Appendix 5B Cash Flow Report Widespread mineralisation at Pomme REE-Nb Project Strong first assay results from Pomme drilling Annual Report to shareholders The Company confirms that it is not aware of any new information or data that materially affects the information included in the original ASX announcements and that all material assumptions and technical parameters underpinning the relevant ASX announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are represented have not been materially modified from the original ASX announcements. Cautionary Statement Regarding Values & Forward-Looking Information The figures, valuations, forecasts, estimates, opinions and projections contained herein involve elements of subjective judgment and analysis and assumption. MTM Critical Metals does not accept any liability in relation to any such matters, or to inform the Recipient of any matter arising or coming to the company’s notice after the date of this document which may affect any matter referred to herein. Any opinions expressed in this material are subject to change without notice, including as a result of using different assumptions and criteria. This document may contain forwardlooking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “expect”, and “intend” and statements than an event or result “may”, “will”, “should”, “could”, or “might” occur or be achieved and other similar expressions. Forward-looking information is subject to business, legal and economic risks and uncertainties and other factors that could cause actual results to differ materially from those contained in forward-looking statements. Such factors include, among other things, risks relating to property interests, the global economic climate, commodity prices, sovereign and legal risks, and environmental risks. Forward-looking statements are based upon estimates and opinions at the date the statements are made. MTM Critical Metals undertakes no obligation to update these forwardlooking statements for events or circumstances that occur subsequent to such dates or to update or keep current any of the information contained herein. The Recipient should not place undue reliance upon forward-looking statements. Any estimates or projections as to events that may occur in the future (including projections of revenue, expense, net income and performance) are based upon the best judgment of MTM Critical Metals from information available as of the date of this document. There is no guarantee that any of these estimates or projections will be achieved. Actual results will vary from the projections and such variations may be material. Nothing contained herein is, or shall be relied upon as, a promise or representation as to the past or future. MTM Critical Metals, its affiliates, directors, employees and/or agents expressly disclaim any and all liability relating or resulting from the use of all or any part of this document or any of the information contained herein. Rule 5.5 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Name of entity MTM CRITICAL METALS LIMITED ABN Quarter ended (“current quarter”) 27 645 885 463 30 September 2023 Consolidated statement of cash flows 1. Cash flows from operating activities 1.1 Receipts from customers 1.2 Payments for Current quarter $A’000 Year to date (3 months) $A’000 - - (a) exploration & evaluation (if expensed) - - (b) development - - (c) production - - (d) staff costs (188) (188) (e) administration and corporate costs (179) (179) 1.3 Dividends received (see note 3) - - 1.4 Interest received 7 7 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) (2) (2) 1.9 Net cash from / (used in) operating activities (362) (362) 2. Cash flows from investing activities 2.1 Payments to acquire or for: (a) entities - - (b) tenements - - (1) (1) (1,320) (1,320) (e) investments - - (f) - - (a) entities - - (b) tenements - - (c) property, plant and equipment (d) exploration & evaluation (if capitalised) 2.2 other non-current assets Proceeds from the disposal of: ASX Listing Rules Appendix 5B (17/07/20) + 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 (3 months) $A’000 (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 (1,321) (1,321) 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 2,563 2,563 4.2 Net cash from / (used in) operating activities (item 1.9 above) (362) (362) 4.3 Net cash from / (used in) investing activities (item 2.6 above) (1,321) (1,321) 4.4 Net cash from / (used in) financing activities (item 3.10 above) - - 4.5 Effect of movement in exchange rates on cash held - - 4.6 Cash and cash equivalents at end of period 880 880 ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 2 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report 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 880 880 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) 880 880 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 1 Current quarter $A'000 Salaries & Director Fees 99 Office rent and administration 26 125 Non-executive director fees paid to Hannaford, Izzard and Hadley and managing director salary paid to Reynolds. Office rent and administration services provided by Rockford Partners and Fordrock Property on commercial terms. 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. 7. Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding