General Comments, page-121

Just a reminder of the Quarterly changes that Growls has mentioned. From https://www.asx.com.au/resources/newsletters/listed_at_asx/listed-at-asx-20191128_1119.html

Looks like NOR will proactively have to answer the ASX queries instead of Creature having to get actual answers for holders.


7. The contents of a quarterly cash flow report
The prescribed form of a quarterly cash flow report for a commitments test entity subject to Listing Rule 4.7B is set out in Appendix 4C, and for a mining exploration entity or oil and gas exploration entity subject to Listing Rule 5.5 in Appendix 5B, of the Listing Rules.

Two forms are largely consistent and require broadly the same information (with necessary differences reflecting the nature of a mining or oil and gas exploration business compared to other businesses).

Entities should note section 8 of Appendices 4C and 5B, which requires an entity to calculate the estimated quarters of funding it has available, based on its cash burn for the latest quarter. If it has less than 2 quarters of funding available, it will be required to answer 3 further questions in its Appendix 4C or 5B:
• 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?
• 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?
• Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?

These questions go to whether the entity meets the requirements in Listing Rules 12.1 and 12.2 that the entity’s level of operations is sufficient, and its financial condition is adequate, in ASX’s opinion, to warrant the continued quotation of its securities and its continued listing.