Ann: Acquisition of Brazilian Exploration Portfolio, page-38

No wonder SP isn’t going anywhere as another CR is on the way. See below highlighted in bold and underlined.

8. Estimated cash available for future operating activities
$A’000
8.1 Net cash from / (used in) operating activities (item 1.9) (1,890)
8.2 (Payments for exploration & evaluation classified as investing activities) (item 2.1(d))
8.3 Total relevant outgoings (item 8.1 + item 8.2) (1,890)
8.4 Cash and cash equivalents at quarter end (item 4.6) 665
8.5 Unused finance facilities available at quarter end (item 7.5)
8.6 Total available funding (item 8.4 + item 8.5) 665

Estimated quarters of funding available (item 8.6 divided by
item 8.3) 0.35

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.
8.8 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?

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?

8.7
Answer: No. The Company has completed a large exploration program in Botswana and will be assessing the next steps to optimise project before committing further exploration funds.

Answer: Yes. The Company has commenced discussions with its corporate advisor and substantial shareholder in relation to a capital raising including using the Company’s 15% placement capacity
ASX Listing Rules Appendix 5B (17/07/20) Page 4 + See chapter 19 of the ASX Listing Rules for defined terms.

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?
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
This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
This statement gives a true and fair view of the matters disclosed.
31 January 2024
Answer: Yes, the Company is carefully budgeting its future activities and is confident in its