cranswick read it here

It may be a bit messy, its the best i could do:


Quarterly Activities Report
3 months to 30th June 2005
G:\Corporate\Financial Rpts\Quarterly\2005\June.doc Page 1 of 6
St Barbara Mines Limited
The Company has re-emerged as a gold producer with gold sales of
83,646ozs at a cash cost of $341/oz for the quarter.
Summary of Key Points
Gold Operations
�� Significant improvement in performance due
to higher grades, reduced unit costs and
improved mining productivity.
�� Safety at work is fundamental to the
Company’s success. Southern Cross operations
completed 370 days without a lost time injury
at the end of the quarter while Carosue Dam
operations achieved 276 days without a lost
time injury.
Gold Exploration
�� Significant drilling results were achieved at
Meekatharra at Paddys Flat and Reedys with
the best results of 85m @ 3.5g/t from a depth of
192m and 44m @ 3.4g/t from 187m
respectively.
�� Drilling is also underway at Yilgarn Star,
Gwalia Deeps, Tarmoola and Marvel Loch to
delineate reserves.
�� Exploration expenditure was $2.4M for the
quarter.
Mineral Resources
�� The mineral resources of the Company now
total 139Mt @ 2.1g/t for 9.3Mozs as at
30 June 2005, and include the mineral
resources acquired through the purchase of the
Sons of Gwalia Ltd (Administrators
Appointed) Gold Division (“SGWGD”). Refer
Table 2.
Nickel Sulphide Exploration
�� Nickel sulphide targets at Sullivans, 4kms
north of Tarmoola have been identified with
drilling and ground EM to be conducted
during the September 2005 quarter.
Corporate
�� Cash at bank at 30 June 2005 totalled $28M, of
which $12M was cash backing of Company
performance bonds.
�� The Company’s investments, including its
holding of 6.4% in NuStar Mining Corporation
Limited (“NuStar”) and 5.5% in Sedimentary
Holdings Limited (“Sedimentary”) had a
market value of $6.9M as at 30th June.
�� Sale of surplus assets has commenced with
contracts to the value of $2.3M completed.
�� An industry experienced Manager -
Environment & Rehabilitation is being
appointed to coordinate the Company’s
environmental rehabilitation, and bond
reduction activities.
Forecasts
�� Gold production is forecast at 49,000ozs at a
cash cost of $400/oz for the September 2005
quarter.
�� Gold production beyond November 2005 is
currently being assessed.
�� Exploration expenditure of $4.1M is forecast
for the September 2005 quarter.
Eduard Eshuys
Managing Director & CEO
19 July 2005
Quarterly Activities Report
3 months to 30th June 2005
G:\Corporate\Financial Rpts\Quarterly\2005\June.doc Page 2 of 6
St Barbara Mines Limited
Operations
Operations Performance
Gold sales for the June 2005 quarter totalled
83,646ozs at a cash cost of $341/oz compared to the
forecast of 82,000ozs at $415/oz for the quarter.
The improved performance of the operations was
due to higher grades than forecast, reduced costs
due to implementation of cost reduction measures
and improved mining productivity at both Marvel
Loch and Safari Bore.
Safety
The Company maintained its emphasis on safety at
the operations and completed the first quarter
injury free. At the end of the quarter Southern
Cross operations had completed 370 days and
Carosue Dam operations 276 days without a lost
time injury.
The rolling 12 month Lost Time Injury Frequency
Rate for the two operations is 0.7 (2003/4 WA Gold
Industry 4.3). The quarter saw a total of
5 medically treated injuries at the sites resulting in
a Medical Treatment Injury Frequency Rate for the
quarter of 20. There were no disabling injuries in
the quarter and the operations achieved a
12 month rolling Disabling Injury Frequency Rate
of 3.5 (2003/4 WA Gold Industry 12.1).
Southern Cross
Gold production at Southern Cross was derived
from the open pit and underground at Marvel
Loch and Golden Pig. Production from the Golden
Pig mine ceased during the quarter, as scheduled.
In the Marvel Loch Open Pit a change to the mine
plan has resulted in a higher grade tonnage being
extracted and completion of mining is likely
during the September 2005 quarter.
Two stoping areas were mined in the Marvel Loch
underground mine, Sherwood and Undaunted at
the northern end. Sherwood has performed ahead
of forecast. Undaunted production is on target
with reference to tonnes and grade.
A third production stope at New Lode was drilled
during the quarter and will be in full production
during the September 2005 quarter. Further
drilling during the quarter has already extended
the mineralisation and it is anticipated that
additional drilling planned for the September 2005
quarter will result in a further increase in reserves.
Forecast gold production for the September 2005
quarter from Southern Cross is 47,000oz at $392/oz.
Carosue Dam
Mining and processing operations were completed
at Carosue Dam during the quarter on schedule.
The mining operation achieved better than
expected productivities and costs.
Gold production from Carosue Dam for the
September 2005 quarter will comprise 2,000oz of
clean-up gold.
Details of June 2005 Quarter Production
Southern
Cross
Carosue
Dam
Open Pit t 287,356 256,848
Grade g/t 2.25 3.84
Underground t 116,944 -
Grade g/t 7.02 -
Stockpiles Processed t 259,065 56,750
Grade g/t 1.32 0.77
Ore Milled t 663,365 313,598
Grade g/t 2.94 3.28
Recovery % 92 96
Gold Shipped ozs 53,719 29,528
Cash Cost $/oz 336 349
In addition to gold shipped from operations of
83,247ozs, 399ozs was generated from other site
clean-ups.
Care and maintenance is being continued at
Meekatharra, as well as at Gwalia and Tarmoola,
Leonora and Carosue Dam, South Laverton.
Quarterly Activities Report
3 months to 30th June 2005
G:\Corporate\Financial Rpts\Quarterly\2005\June.doc Page 3 of 6
St Barbara Mines Limited
Gold Exploration
Meekatharra
�� Significant drilling results were reported
from Mudlode and Rand prospects. 85m @
3.5g/t and 58m @ 4.1g/t were reported from
Mudlode, in a carbonate-quartz-pyrite
altered ultramafic. Best results from Rand
include 44m @ 3.4g/t and 27.2m @ 3.6g/t,
hosted in a biotite-quartz-pyrite altered zone
below the North Rand pit. Details of these
holes and others are in Table 1.
�� Mudlode is a new position, outside of
current resources, east of and adjacent to the
Vivians-Consols porphyry. Mudlode
mineralisation has been intersected over a
400m strike and remains open to both north
and south. Follow-up drilling will occur.
�� Drilling at Rand during the quarter has
identified gold mineralisation, plunging
southwards, below the North Rand pit.
Further drilling, resource modelling and
mining studies are underway to evaluate the
possibility of a pit cutback.
Gwalia and Tarmoola
�� Infill drilling has commenced at Gwalia
Deeps to establish indicated resources
utilising existing deep holes drilled in
2000/02 as platforms to drill daughter holes
of 300-400m each. DrillCorp (contractors for
the 2000/02 campaign) has been engaged for
this work, with one UDR1500 rig on double
shift. A second rig is expected to commence
during August.
�� Drilling has also commenced at Tarmoola,
testing the gold in granite mineralisation at
the ROM pad and West Saddle targets on
the western margin of the open pit to a
depth of 200m.
Southern Cross
�� A deep diamond drilling program at Yilgarn
Star with a current resource of 780,000t @
6.9g/t is in progress, targeting the northplunging
mineralisation between 350m and
900m from surface. An intersection of 3m @
9.9g/t was achieved in YSD1056, the first
result from this campaign.
�� Underground drilling at Marvel Loch of
Undaunted, Sherwood, New and the
Exhibition Lode is underway, aiming to
convert indicated and inferred resources of
917,000t at 8.2g/t for 242,000ozs into
reserves.
�� A dedicated, focussed gold targeting study
has commenced, initially at Southern Cross
to produce new exploration targets, and
assess the effectiveness of previous
exploration.
Nickel Sulphide Exploration
�� High priority nickel targets within the
acquired SGWGD ground are being
assessed, with surface EM survey and RC
drilling commencing on Leonora targets
during July. Research into previous
exploration has indicated the presence of
significant nickel and copper anomalism in
an ultramafic unit at Sullivans 35kms north
of Leonora. Very little drill testing of the
prospective ultramafic footwall contact,
which extends for some 8km on Company
owned tenements, has previously occurred.
Mineral Resources
�� The mineral resources of the Company now
total 139Mt @ 2.1g/t for 9.3Mozs as at
30 June 2005 and include the mineral
resources acquired through the SGWGD
purchase.
�� Resource modelling and upgrade at
Meekatharra on Rand, Emu, Jack Ryan and
Vivians-Consols by Cube Consulting is in
progress. This work will incorporate all
drilling results received to date and will
report the resources in line with the
Company’s JORC-compliant reporting
standards.
Quarterly Activities Report
3 months to 30th June 2005
G:\Corporate\Financial Rpts\Quarterly\2005\June.doc Page 4 of 6
St Barbara Mines Limited
Table 1
Significant Drillhole Intersections
Total Mineralized Intercept
Hole No North East Dip Azimuth Depth From To Length Gold
m m m m g/t
PADDYS FLAT - Mudlode
VIRCD033 2702 1313 61 270 450.8 192 282 85 3.5
VIRC029 2700 1315 60 270 340 201 259 58 4.1
VIRC040 2760 1315 60 270 322 238 276 38 2.3
VIRCD020 2740 1315 60 270 429.6 221 262 41 2.1
VIRC035 2780 1350 60 270 350 292 312 20 2.9
VIRC039 2740 1220 60 270 316 224 225 1 54.0
VIRC042 2820 1325 60 270 350 267 276 9 2.7
VIRCD023 3200 1590 60 270 510.6 358 364 6 3.8
VIRC040 2760 1315 60 270 322 210 215 5 4.5
VIRC041 2780 1260 60 270 250 156 180 24 0.9
VIRCD030 3000 1460 55 270 471.7 294 296 2 8.8
VIRCD027 2960 1440 60 270 513.7 282 294 12 1.2
PADDYS FLAT – Vivians-Consols Porphyry
VIRCD024a 2996 1448 52 270 450.5 414.5 415.5 1 22.4
VIRCD030 3000 1460 55 270 471.7 442 444 2 10.1
REEDYS - Rand
RDRC016 11600 10147 55 270 280 187 231 44 3.4
RDRCD013 11560 10170 60 270 328.3 267.4 310 42.6 2.5
RDRCD020 11500 10182 60 270 363.7 275.33 302.5 27.2 3.6
including 283 297.5 14.5 5.7
RDRC016 11600 10147 55 270 280 222 228 6 13.5
RDRC027 11140 10129 60 270 270 197 213 16 3.6
including 202 212 10 5.1
RDRC028 11600 10147 45 270 202 170 183 13 4.0
RDRC019 11640 10145 48 270 249 161 185 24 2.0
RDRCD004 11200 10270 60 270 462.1 448.5 455 6.5 5.2
RDRC025 11000 10140 60 270 322 243 252 9 3.7
RDRC030 11550 10159 50 270 230 174 210 36 0.9
RDRCD007 11900 10210 60 270 456.6 416 425.4 9.4 3.1
RDRCD015 11520 10225 55 270 366.7 344 350 6 4.5
SOUTHERN CROSS – Yilgarn Star
YSD1056 5529 11149 65 090 469 404 407 3 9.9
Quarterly Activities Report
3 months to 30th June 2005
G:\Corporate\Financial Rpts\Quarterly\2005\June.doc Page 5 of 6
St Barbara Mines Limited
Corporate
The Company continues to hold a 5.5% interest in
Sedimentary and a 6.4% interest in NuStar.
Financing for the replacement of SGWGD
performance bond guarantees amounting to $30M
was finalised during the quarter and comprised:
- operations’ generated cash of A$9M; and
- offshore bank letter of credit of A$21M.
Total cash backing for the Company’s performance
bonds, including the Meekatharra tenements,
amounts to $12M.
The Department of Industry and Resources has
granted a 12 month moratorium for the lodging of
securities for $5.7M in proposed bond increases
relating to the acquired SGWGD tenements.
Total funds drawn down on the Resource Capital
Funds III LP facility remained unchanged at $7M.
The transition of the SGWGD acquisition was
completed smoothly during the quarter, including:
- signing on of key management and operations
staff;
- renewing insurance cover for 2006 at a lower
aggregate cost than for 2005; and
- establishing IT and communications platforms
across all operations.
An industry experienced Manager - Environment &
Rehabilitation is being appointed to strengthen the
implementation of a range of rehabilitation
programs planned to reduce current cash backed
performance bonds.
Two experienced managers have been dedicated to
negotiating the sale of surplus property, plant and
equipment from the SGWGD acquisition. To date
sales of surplus assets to the value of $2.3M have
been achieved. Further sales are anticipated.
There were no new securities issued during the
quarter and 2,370,516 unlisted options expired.
Financials
The Consolidated Statement of Cash Flows reflects
a full quarter’s contribution from the recently
acquired SGWGD operations.
The closing combined cash position and cash
backing for performance bonds increased to
$28.0M at 30 June 2005 from $9.5M at
31 March 2005. This increase is primarily
attributable to strong Net Operating Cash Flows
for the quarter of $17.9M.
The closing cash position of $16.2M at 30 June,
excluding cash backing of bonds, compares with
$2.2M as at 31 March 2005.
Other details are as follows:
�� For the June quarter, gold sales of 83,646 ounces
were sold at spot, at a weighted average price of
A$557.13 per ounce. The Company’s gold
production remains unhedged.
�� Corporate Project and Acquisition Costs of
$742k for the quarter related to the SGWGD
acquisition, and included stamp duty costs.
�� Proceeds from the Sale of Equity Investments
includes $957k from the sale of 19.1M NuStar
shares at 5 cents each pursuant to an option
agreement with Claymore Capital and
nominees. The option agreement expired in
May 2005.
Quarterly Activities Report
3 months to 30th June 2005
G:\Corporate\Financial Rpts\Quarterly\2005\June.doc Page 6 of 6
St Barbara Mines Limited
Table 2
Mineral Resource Statement at 30 June 2005
MEASURED INDICATED INFERRED TOTAL
REGION
kTonnes Au g/t Koz kTonnes Au g/t Koz kTonnes Au g/t Koz kTonnes Au g/t Koz
Leonora
Gwalia 7,200 7.4 1,720 7,200 7.4 1,720
Tarmoola 10,000 1.5 460 10,300 1.2 400 35,600 1.2 1,370 55,900 1.2 2,230
Other 990 1.0 30 6,370 1.6 330 6,800 2.1 460 14,160 1.8 820
10,990 1.4 490 16,670 1.4 730 49,600 2.2 3,550 77,260 1.9 4,770
Southern Cross
Marvel Loch 60 4.0 8 3,000 3.9 370 1,100 6.7 230 4,160 4.6 608
Yilgarn Star 390 6.6 80 1,050 3.2 110 1,440 4.1 190
Other 6,200 2.7 550 4,800 2.9 450 11,000 2.8 1,000
60 4.0 8 9,590 3.2 1,000 6,950 3.5 790 16,600 3.4 1,798
Meekatharra (100% SBM)
Paddys Flat 16,500 1.7 910 9,300 1.4 420 25,800 1.6 1,330
Reedys 840 2.7 70 800 5.5 140 310 5.0 50 1,950 4.2 260
Other 150 3.1 15 150 3.1 15
840 2.7 70 17,450 1.9 1,065 9,610 1.5 470 27,900 1.8 1,605
South Laverton 5,900 2.3 400 3,500 2.6 300 9,500 2.5 700
Meekatharra (JV)
Annean JV (SBM reducing to 30%) 4,800 1.5 230 1,550 2.2 110 6,350 1.7 340
Polelle JV (SBM reducing to 35%) 1,120 1.6 60 1,120 1.6 60
4,800 1.5 230 2,670 2.0 170 7,470 1.7 400
TOTAL ALL AREAS 11,890 1.5 568 54,410 2.0 3,425 72,330 2.3 5,280 138,730 2.1 9,273
This resource estimate complies with recommendations in the Australasian Code for Reporting of Mineral Resources and Ore Reserves prepared in 1999 by
the Joint Ore Reserves Committee (JORC). It was prepared by Mr Peter Thompson, General Manager Exploration and Ms Jane Bateman, Manager
Resources, full time employees of St Barbara and both Competent Persons as defined by the Code. It is included in this report with the written consent of
Mr Peter Thompson and Ms Jane Bateman.
In accordance with ASIC Class Order 98/100 dated 10 July 1998 amounts in this report have been rounded off to the nearest thousand, unless otherwise
stated.
Directors and Executive Management
S J C Wise.........................................Chairman
E Eshuys...........................Managing Director
R Knight ..................Non-Executive Director
H G Tuten...............Non-Executive Director
M K Wheatley........Non-Executive Director
R J Kennedy................... Company Secretary
Registered Office
Level 2, 16 Ord Street
West Perth WA 6005
Telephone: ............................. +61 8 9476 5555
Facsimile: ............................... +61 8 9476 5500
Email:[email protected]
Website:................... www.stbarbara.com.au
Issued Capital
As at the date of this report, the issued
capital is 566,533,352 shares.
As at the date of this report, there are
92,338,091 unlisted options exercisable at
various prices between 4.7¢ and 35¢ up to
23 December 2011.
Largest Shareholder
Resource Capital Fund II LP ................ 31.4%
Stock Exchange Listings
Australian Stock Exchange
AIM Board of London Stock Exchange
Ticker Symbol: SBM
Dollar values in this report are Australian
Dollars unless otherwise stated
Shareholder Enquiries
Matters related to shares held, change of
address and tax file numbers should be
directed to:
Advanced Share Registry Services
110 Stirling Highway
Nedlands WA 6009
Telephone: ...............................+61 8 9221 7288
Facsimile: .................................+61 8 9221 7869
or for UK residents:
Computershare Investor Services PLC
The Pavilions, Bridgwater Road
Bristol BS99 7NH, England
Telephone: .............................+44 870 703 6088
Facsimile: ..............................+44 870 703 6142
Appendix 5B
Mining exploration entity quarterly report
Appendix 5B Page 1
Appendix 5B
Mining exploration entity quarterly report
Name of entity
ST BARBARA MINES LIMITED
ABN Quarter ended (“current quarter”)
36 009 165 066 30 JUNE 2005
Consolidated statement of cash flows
Cash flows related to operating activities Current quarter
$A’000
Year to date
(12 months)
$A’000
1.1 Receipts from debtors
(a) gold sales
(b) Other
44,508
642
44,508
1,550
1.2 Payments for:
(a) exploration and evaluation
(b) development
(c) production
(d) care & maintenance
(e) administration and corporate payments
(f) projects & acquisition costs
(2,437)
-
(22,763)
(870)
(970)
(742)
(5,502)
(3,905)
(22,763)
(2,000)
(6,235)
(2,646)
1.3 Dividends received - -
1.4 Interest and other items of a similar nature
received 161 478
1.5 Interest and other costs of finance paid (148) (585)
1.6 Income taxes paid - -
1.7 Other (payments of 30 June 2004 creditors) - (3,649)
Net Operating Cash Flows 17,381 (749)
Cash flows related to investing activities
1.8 Payment for purchases of:
(a) prospects (refund in quarter)
(b) equity investments
(c) other fixed assets
188
(265)
(37)
(2,182)
(481)
(199)
1.9 Proceeds from sale of:
(a) prospects
(b) equity investments
(c) other fixed assets
-
978
186
62
9,746
5,092
1.10 Loans to other entities - -
1.11 Loans repaid by other entities - -
1.12 Other (provide details if material) - -
Net investing cash flows 1,050 12,038
1.13 Total operating and investing cash flows
(carried forward) 18,431 11,289
Appendix 5B
Mining exploration entity quarterly report
Appendix 5B Page 2
Current quarter
$A’000
Year to date
(12 months)
$A’000
1.13 Total operating and investing cash flows
(brought forward) 18,431 11,289
Cash flows related to financing activities
1.14 Proceeds from issues of shares, options, etc. - 2,905
1.15 Proceeds from sale of forfeited shares - -
1.16 Proceeds from convertible borrowings - 8,382
1.17 Repayment of borrowings - (3,500)
1.18 Dividends paid - -
1.19 Addition to cash backed bonds (4,440) (10,430)
Net financing cash flows (4,440) (2,643)
Net increase (decrease) in cash held 13,991 8,646
1.20 Cash at beginning 2,211 12,849
1.21 Deconsolidation adjustment - (5,293)
1.22 Cash at end of quarter 16,202 16,202
1.23 Cash backing bonds at beginning 7,361 3,108
1.24 Increase/(decrease) in cash backing bonds 4,440 8,693
1.25 Cash backing bonds at end of quarter 11,801 11,801
1.26 Cash at end of quarter including cash
backed bonds 28,003 28,003
Payments are shown net of GST.
Payments to directors of the entity and associates of the directors
Payments to related entities of the entity and associates of the related entities
Current quarter
$A'000
1.23 Aggregate amount of payments to the parties included in item 1.2 122
1.24 Aggregate amount of loans to the parties included in item 1.10 -
1.25 Explanation necessary for an understanding of the transactions
Refer commentary.
Non-cash financing and investing activities
2.1 Details of financing and investing transactions which have had a material effect on consolidated
assets and liabilities but did not involve cash flows
None.
Appendix 5B
Mining exploration entity quarterly report
Appendix 5B Page 3
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
None.
Financing facilities available
Add notes as necessary for an understanding of the position.
Amount available
$A’000
Amount used
$A’000
3.1 Loan facilities - -
3.2 Credit standby arrangements - -
Estimated cash outflows for next quarter
$A’000
4.1 Exploration and evaluation 4,084
4.2 Development -
Total 4,084
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 1,454 853
5.2 Deposits at call 14,748 1,358
16,202 2,211
5.3 Bank overdraft - -
5.4 Other
(a) Cash security for bonds
(b) Restricted cash held in escrow
11,801
-
2,830
4,500
Total: cash at end of quarter (item 1.22) 28,003 9,541
Changes in interests in mining tenements
Tenement
reference
Nature of interest
(note (2))
Interest at
beginning
of quarter
Interest at
end of
quarter
6.1 Interests in mining
tenements relinquished,
reduced or lapsed
M20/303
M20/306
M20/308
M20/215
Tenement Surrendered
Reedys
Reedys
Reedys
Reedys
100%
100%
100%
100%
-
-
-
-
6.2 Interests in mining
tenements acquired or
increased
P20/1863
Tenement Granted
Reedys
-
100%
Appendix 5B
Mining exploration entity quarterly report
Appendix 5B Page 4
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, buybacks,
redemptions
7.3 +Ordinary
securities 566,533,352 566,533,352 Fully paid Fully paid
7.4 Changes during
quarter
(a) Increases
through issues
(b) Decreases
through returns
of capital, buybacks
Nil
7.5 +Convertible
debt securities
(description)
7.6 Changes during
quarter
(a) Increases
through issues
(b) Decreases
through
securities
matured,
converted
Nil
7.7 Options
(description and
conversion
factor)
Employee and
unlisted options
92,338,091
All options are
unlisted
Exercise price
Between 4.7¢
and 35¢
Expiry date
Between 13/08/05
and 23/12/11
7.8 Issued during
quarter Nil
7.9 Exercised during
quarter Nil
7.10 Expired during
quarter 2,370,516 None Various Various
7.11 Debentures
(totals only)
7.12 Unsecured
notes (totals
only)
Appendix 5B
Mining exploration entity quarterly report
Appendix 5B Page 5
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: ............................................................ Date: 19 July 2005
Print name: Ross Kennedy,
Chief Financial Officer and Company Secretary
Notes
1 The quarterly report provides a basis for informing the market how the entity’s activities have
been financed for the past quarter and the effect on its cash position. An entity 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 1022: Accounting for Extractive Industries and
AASB 1026: Statement of Cash Flows 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.
== == == == ==