Not yet a member?Join now!|Lost password
Encounter Resources Limited
Encounter Resources Limited
07/30/2010 | Press release
Quarterly Activities and Cashflow Report June 2010
wired by noodls on 07/29/2010 22:07
Quarterly Report
June 2010
A highly active exploration HIGHLIGHTS
company with projects in
Western Australia prospective PATERSON PROVINCE
for base metals, uranium, Yeneena - Major ground position between the Nifty copper
manganese and gold mine, the Woodie Woodie manganese mine and the Kintyre
uranium deposit
· BM1 Copper Discovery
An aircore drill program has outlined a +3km long
ASX Code copper regolith anomaly that remains open to the
ENR north, south and east.
Market Cap (29/07/10) High grade copper mineralisation intersected within
the large scale anomaly including;
A$25.7m ($0.325/share) 4m @ 5.45% Cu from 66m
Issued Capital (30/06/10) 8m @ 1.09% Cu from 24m
79.2 million ordinary shares 6m @ 1.41% Cu from 54m to EOH
2.7 million employee options
Detailed gravity survey has commenced
Cash (30/06/10)
10,000m aircore / RC drill program commencing in
A$2.4M August 2010
· MN1 Manganese Prospect
Broad spaced aircore drilling has intersected near
surface manganese mineralisation over a strike length
Board of Directors & of 2.5kms with results including;
Management 1m @ 21.2% Mn from 9m
Mr. Paul Chapman 3m @ 16% Mn from 21m
Non-Executive Chairman
Mr. Will Robinson · BM2 Copper, BM5 Zinc, MN2 Manganese Prospects
Managing Director Aircore drilling programs at BM2 and MN2 and two
Mr. Peter Bewick diamond drill holes were completed at BM5. Assays
are expected in August 2010.
Exploration Director
Dr. Jon Hronsky
Non-Executive Director CORPORATE
Mr. Kevin Hart · Encounter acquired 100% of the Yeneena project during the
Company Secretary quarter through the purchase of Barrick (Australia Pacific)
Limited's remaining 25% interest.
www.enrl.com.au · The Company's cash balance at the end of the quarter was
$2.4 million.
Level 7, 600 Murray Street
West Perth WA 6005
P: 08 9486 9455
F: 08 6210 1578
contact@enrl.com.au
EXPLORATION
Encounter Resources Limited (Encounter) is a Western Australian (WA) based
exploration and resource development company with projects in three geological
regions of WA. Encounter's portfolio covers over 4,750km2 of strategically located and
highly prospective exploration projects (Figure 10). The portfolio includes:
· A major ground position in the Paterson mineral province between the Nifty
copper mine, Woodie Woodie manganese operation and the Kintyre uranium
deposit, considered highly prospective for Proterozoic copper and silver-
lead-zinc mineralisation, unconformity related uranium and carbonate hosted
manganese deposits;
· 11 million pounds of near surface, calcrete style uranium resources in the
Yilgarn Province; and
· Six projects targeting base metals in the Bangemall Basin.
PATERSON PROVINCE
YENEENA (100% Encounter)
The Yeneena project covers a 1,300km2 tenement package in the Paterson Province of WA
located between the Nifty copper mine, the Woodie Woodie manganese mine and the
Kintyre uranium deposit (Figure 1). The project is considered highly prospective for Nifty/Isa
style copper mineralisation, silver-lead-zinc mineralisation, Woodie Woodie style
manganese mineralisation and unconformity related uranium mineralisation. During the
quarter Encounter acquired 100% of the Yeneena project through the purchase of Barrick
Australia Pacific Limited's remaining 25% interest.
Figure 1: Yeneena targets and major structures over magnetics
Simplified geological stratigraphy for the region comprises the Palaeo-Proterozoic
Rudall Complex as the lowermost unit, overlain by the Neo-Proterozoic Coolbro
Sandstone. The Broadhurst Formation sits stratigraphically above the Coolbro
Sandstone and is the host to the base metals targets and the Nifty copper mine. The
Kintyre uranium deposit sits directly below the unconformity between the Coolbro
Sandstone and the Rudall Complex.
Two new and significant geological domains have been recently identified at the
project. These domains were recognised through a review of independent geophysical
datasets, the diamond drill core from the 2009 program and re-logging historical aircore
drilling.
Palaeo-Proterozoic Rudall Complex metamorphic basement rocks have been identified
at the T4 Prospect. In addition, a shallow water, stromatolitic, carbonate shelf
depositional environment has been recognised to the west of the McKay fault. This
significantly increases the prospective project area for carbonate hosted Woodie
Woodie style manganese mineralisation. Importantly, neither of these two newly
recognised geological domains had been documented in previous regional geological
mapping.
During the quarter Encounter was successful in its application for co-funded drilling
under the WA Government Exploration Incentive Scheme. This funding will contribute
up to $150,000 towards the drilling costs of a planned diamond drill program at the
Yeneena Project. The co-funding recognises the quality and the potential of these
exciting drill targets.
A 10,874 metre aircore and RC drill program that tested targets at BM1, BM2, MN1 and
MN2 was completed during the quarter. A 994 metre diamond drilling program at the
BM5 Prospect was also completed during the quarter.
BM1 Copper Discovery.
The BM1 prospect is located along the McKay Fault approximately 60km south of the
Nifty copper mine (Figure 1). The BM1 copper mineralisation is hosted within the
Broadhurst Formation and is almost entirely overlain by 2-10 meters of transported
cover.
Aircore drilling completed at the BM1 Prospect during the quarter (3,907 meters) has
significantly extended the area of near surface, copper mineralisation that was first
identified in June 2009. The area of anomalism in excess of 0.2% copper now extends
over 3kms in strike and remains open to the north, south and east (Figure 2). In
addition, zones of high grade copper mineralisation were intersected in the recent drill
program which include:
· 4m @ 5.45% Cu from 66m in EPT 220
· 8m @ 1.09% Cu from 24m in EPT 219
· 6m @ 1.41% Cu from 54m to end of hole in EPT 181
To date only shallow aircore drilling has been completed at a 400m by 100m spacing
with a few infill drill holes completed.
Figure 2: BM1 prospect showing drill hole locations and maximum copper in hole
This significant area of copper anomalism indicates that the primary source of the
regolith hosted copper at BM1 is possibly very large or a series of multiple sources.
While the mineralisation remains open in three directions the BM1 prospect already
has a world class copper regolith footprint.
A detailed ground gravity survey has commenced at BM1 which has been designed to
provide additional structural and stratigraphic information to assist with the planned
follow up drill program.
The next aircore and RC drill program (10,000m) will commence in early August 2010.
This drill program will target the northern and eastern extents of the copper regolith
anomaly as well as testing below and adjacent to the areas where high grade copper
mineralisation has been intersected. The program is expected to be completed by the
end of September 2010.
Figure 3: BM1 Cross Section B-B' 7544300mN
Figure 4: BM1 Cross Section A-A' 7543100mN
BM5 Prospect
The BM5 Prospect is located along the regionally extensive Kintyre Fault (Figure 1).
During the quarter two diamond drill holes were completed at the prospect to test a
downhole EM conductor beneath a gossanous iron manganese horizon associated
with copper-lead-zinc-silver geochemical anomalism. The drill holes were designed to
test to the west of a vein of massive sulphide containing sphalerite and galena that was
intersected by Encounter in hole EPT 062 in late 2009. Assay results for the interval of
massive sulphide returned 0.1m @ 28.5% zinc, 2.3% lead and 33.9g/t silver.
A downhole electromagnetic survey from drill hole EPT062 identified a significant
+500m long, offhole conductor approximately 60m below the bottom of hole. A detailed
ground gravity survey was completed in April 2010 over an extensive area surrounding
the BM5 Prospect to help resolve structure, geology and help define drill targets.
Results showed an excess mass feature occurs in close proximity to the identified
offhole EM conductor at BM5.
Diamond drilling during the quarter successfully tested the modelled EM conductor and
excess mass feature identified in the ground gravity survey at the prospect. Two holes
were drilled EPT 105 and EPT 106 for a total of 994 meters (Figure 5).
Geological logging indicates
the modelled EM conductor
represents an apparent
westerly dipping contact
between the upper
carbonate unit and
carbonaceous shales
below. Geological
observations suggest that
this contact is structurally
controlled and includes
zones of strong faulting and
veining. Primary
stratigraphic layering in the
carbonate unit is observed
to apparently dip shallowly
to the east. A thick
sequence of brecciated
carbonate including
pervasive disseminated
pyrite is present at the
modelled position of the
excess mass anomaly on
the drill section.
Assay results are pending
and expected in August
2010.
Figure 5: BM5 Cross Section 7565150mN
MN1 Prospect
The MN1 Prospect is located 70kms to the south east of the Woodie Woodie
manganese mine (Figure 1). In November 2009, Encounter announced the discovery
of high grade manganese at the MN1 prospect. Two high grade, near surface
manganese intersections were reported, 200m apart in adjacent vertical aircore holes
at the southern end of a 14km long regional gravity anomaly. The gravity anomaly sits
to the west of, and parallel to, the regionally extensive McKay Fault. Intersections
include 2m @ 20% Mn from 25 metres in YNAC 168 (incl. 1m @ 28% Mn from 26m)
and 3m @ 16% Mn from 21 metres in YNAC 169.
The geology in the MN1
area is masked by sand
cover with only isolated
surface outcrops.
Manganese anomalism
occurs within the newly
recognised geological
domain of shallow marine
carbonates bounded to the
east by the McKay Fault.
This new geological
interpretation significantly
increases the potential for
manganese discoveries
within this extensive area of
prospective stratigraphy.
An orientation ground
gravity program covering
the southern 4kms of the
14km long regional gravity
ridge at the MN1 prospect
was completed in
December 2009 to define
drill targets within the broad
regional anomaly. The
program successfully
resolved the regional
anomaly into a number of
discrete pod-like anomalies
(Figure 6).
Figure 6: MN1 prospect showing drill hole locations and maximum manganese in hole
Aircore drilling completed during the quarter at MN1 (2,152 meters) intersected
extensions to the manganese mineralisation intersected in YNAC 168 and YNAC 169.
The new intersections include 1m @ 17.7% Mn from 26m and 1m @ 15.4% Mn from
27m. The cluster of significant manganese intersections is broadly coincident with a
residual gravity anomaly in this Southern Zone.
The most northern drill traverse at the MN1 prospect intersected near surface high
grade manganese over a residual gravity feature. Drill hole EPT159 intersected 1m @
21.2% Mn from 9m depth. The hole terminated in hard, massive silicified carbonate at
a depth of 15m.
A deeper RC drill program to test for a potential hydrothermal ore system below the
identified manganese mineralisation was also completed at the MN1 prospect during
the quarter (1,506 meters). Assay results are pending for this drilling.
The discovery of high grade manganese over a length of 2.5km along the regionally
significant McKay Fault is encouraging. High grade manganese also exists up to 1km
west of the fault. The aircore drill results received during the quarter have expanded
the area of manganese prospectivity at the MN1 target. This initial drill program has
only focused on the southern 3km of the 14km long target zone.
MN2 Prospect
During the March 2010 quarter, a second area of manganese anomalism was identified
at MN2, 20km to the east of the MN1 Prospect.
Logging descriptions of historic holes drilled at the MN2 Prospect noted the presence
of a shallow, flat lying layer of manganese oxide in five adjacent, 200m spaced aircore
holes (Figure 7). This 1km wide zone of manganese oxide is located in an area of
extensive sand cover and no surface outcrop. The highly anomalous manganese starts
30m below the surface and is 2-9m thick.
Figure 7: Zone of manganese oxide logged at MN2
Geological descriptions for holes YNAC160 to YNAC164 indicate the manganese
anomalism is located at the boundary between the overlying Tertiary and the
underlying Permian sediments. This infers that the manganese may have been
deposited through hydromorphic dispersion from a primary manganese-rich source
area.
Two aircore drilling traverses were completed at the MN2 prospect during the quarter
(2456 meters) aimed at identifying vectors towards the potential primary source.
Assays for this drilling are pending and expected in August 2010.
BM2 Target
The BM2 target is located at the intersection of a north-south trending, westerly dipping
fault and the regionally extensive Tabletop Fault (Figure 1). AEM data indicates a clear
structural termination along the eastern margin of a conductive horizon against the
Tabletop Fault.
The BM2 target area is also extensively sand covered however sparse broad spaced
historical drill holes define base metal regolith anomalism over an interpreted strike of
3km including up to 521ppm Copper.
Aircore drilling was completed at the BM2 target during the quarter (853 meters). Assay
results are pending.
T4 Prospect
Encounter has confirmed the presence of a horst block of Palaeo-Proterozoic
basement rocks (5.5km x 3.5km) in an area of no outcrop at the T4 Prospect which is
located approximately 5kms north of the BM5 Prospect. The block was observed in
three independent datatsets (magnetics, gravity and AEM) (Figure 8).
Re-logging of isolated
historical drill chips confirmed
the presence of metamorphic
schists similar to Rudall
Complex rocks known in the
area. Sedimentary units on
the margins of the horst block
are considered highly
prospective for SEDEX Cu
and Pb-Zn mineralisation.
During the quarter Encounter
was successful in its
application for co-funded
drilling under the WA
Government Exploration
Incentive Scheme. This
funding will contribute up to
$150,000 towards the drilling
costs of a planned diamond
drill program at the T4 and
MN1 targets at the Yeneena
Project.
Figure 8: T4 Palaeo-Proterozoic basement block interpretation over AEM
Conductivity Depth Inversions & TMI Magnetics Image.
BANGEMALL BASIN
Figure 9: Bangemall Basin leasing plan
WANNA (E08/1779 - 80% Encounter, 20% Avoca
The Wanna project is located 120kms SW of Paraburdoo on the southern margin of the
Bangemall Basin, approximately 40kms WNW of Mt Augustus. The project sits along
the interpreted western extension of the Augustus Rift, to the east of the Gifford Creek
Complex. The stratigraphy and key structures that host the Abra base metal deposit
are interpreted to extend through the Wanna project area (Figure 9).
A hydrogeochemical survey, utilising existing pastoral bores, defined a coincident Pb-
Mo-As-Ba anomaly at Koorabooka Spring. This suite of anomalous elements in the
groundwater is indicative of the type of response that could be seen proximal to a zone
of base metal mineralisation.
A ground gravity survey was completed at the project and was designed to test the
area of anomalous groundwater surrounding the Koorabooka Spring as well as along a
WNW trending magnetic lineament where a series of outcropping lead occurrences
within dolomitic rocks were identified. The results of the survey were very encouraging
with a discrete bouguer gravity anomaly defined immediately upstream of Koorabooka
Spring coincident with a base metal LAG geochemical anomaly. This excess mass
anomaly does not show the magnetic character of a mafic dyke and therefore remains
unexplained. It is interpreted that this gravity anomaly at Koorabooka Spring may
represent the accumulation of dense base metal sulphide emplaced in the sedimentary
sequence adjacent to the Augustus Rift.
During the quarter Encounter was successful in its application for co-funded drilling
under the WA Government Exploration Incentive Scheme. This funding will contribute
up to $100,000 towards the drilling costs of a planned diamond drill program at the
coincident geochemical anomaly and unexplained Koorabooka Spring gravity anomaly
within the Wanna project. Drilling is expected to be completed in the first half 2011. The
co-funding provides recognition of the quality and the potential of this exciting drill
target.
TCHINTABY WELL (E52/1882 - 80% Encounter, 20% Avoca)
The Tchintaby Well project covers over 335km2 and is targeted for high grade SEDEX
zinc mineralisation, similar to the Century and McArthur River deposits in eastern
Australia. Initial drilling completed at the Tchintaby Well tenement discovered
significant extensions to the Zn-Cu-Ag mineralised horizon but did not account for the
2g/cc (2mgal) excess mass anomaly targeted in the drill program.
Encounter is seeking expressions of interest from potential JV partners to progress the
Tchintaby Well zinc project. Details of the opportunity have been posted on
MinesOnline.com.
YILGARN DISTRICT
CALCRETE URANIUM RESOURCES
A strategic review of the calcrete uranium resource has been initiated by Encounter to
consider the potential development and commercial alternatives to advance these
projects.
HILLVIEW (E51/1127 - 80% Encounter, 20% Avoca)
The Hillview uranium project is located 50kms south east of Meekatharra and contains
an Inferred Resource of 27.6 million tonnes, averaging 174ppm U3O8 for a contained
10.6 million pounds of U3O8. The Inferred Resource is reported in accordance with the
JORC code (2004) and guidelines.
LAKE WAY SOUTH (E53/1232 60% Encounter, 40% Avoca Uranium rights only)
The Lake Way South project is located approximately 10kms south of Wiluna, between
Toro Energy's Lake Way and Centipede uranium deposits. An Inferred Resource for
the area of the Centipede resource within the JV tenement has been calculated. This
resource contains 220,000t @ 244ppm U3O8 for 120,000lbs of U3O8. The Inferred
Resource is reported in accordance with the JORC code (2004) and guidelines
BELLAH BORE EAST (E53/1158 80% Encounter, 20% Avoca)
The Bellah Bore East project is situated in the upper reaches of the Yeelirrie Channel.
An Inferred Resource of 350,000t averaging 210ppm U3O8 for 160,000lb of U3O8 has
been calculated for the Bellah Bore East prospect. The Inferred Resource is reported in
accordance with the JORC code (2004) and guidelines
CORPORATE
Encounter acquired 100% of the Yeneena project during the quarter through the
purchase of Barrick (Australia Pacific) Limited's remaining 25% interest.
The main terms of the acquisition of Barrick's 25% interest are:
· Payment of A$400,000 in cash;
· Net smelter royalty of 1.5% on all minerals; and
· A gold clawback in the event of major discovery of gold >4 million oz. Barrick
will then have the right to regain an interest in the gold discovery at a price of
between US$40-100/oz.
The Company's cash balance at the end of the quarter was $2.4 million.
Figure 10: Encounter Resources Project Location Plan
______________________
Will Robinson
Managing Director
The information in this report that relates to Exploration Results and Mineral Resources at Lake Way South is based on
information compiled by Mr Peter Bewick who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Bewick is
a full time employee of Encounter Resources Ltd and has sufficient experience which is relevant to the style of mineralisation
under consideration to qualify as a Competent Person as defined in the 2004 Edition of the `Australian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves'. Mr Bewick consents to the inclusion in the report of the matters
based on his information in the form and context in which it appears.
The information in this presentation that relates to Mineral Resources for the Hillview Uranium Project is based on information
compiled by Mr Neil Inwood who is employed by Coffey Mining Ltd. Mr Peter Bewick from Encounter has consented to a joint
sign off for the Resource, Mr Bewick taking responsibility for the quality and reliability of the drillhole database and Mr Inwood
is responsible for the grade estimate and classification of the resource. Messrs Inwood and Bewick have sufficient experience
which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they have
undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of
Mineral Resources and Ore Reserves". Messrs Inwood and Bewick consent to the inclusion in the report of the matters based
on the information compiled by them, in the form and context in which it appears.
Appendix 5B
Mining exploration entity quarterly report
Rule 5.3
Appendix 5B
Mining exploration entity quarterly report
Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.
Name of entity
Encounter Resources Limited
ABN Quarter ended ("current quarter")
47 109 815 796 30 June 2010
Consolidated statement of cash flows
Current quarter Year to date (12
Cash flows related to operating activities $A'000 months)
$A'000
1.1 Receipts from product sales and related debtors - -
1.2 Payments for (a) exploration and evaluation (960) (2,568)
(b) development - -
(c) production - -
(d) administration (168) (629)
1.3 Dividends received - -
1.4 Interest and other items of a similar nature
received 54 157
1.5 Interest and other costs of finance paid - -
1.6 Income taxes paid - -
1.7 Other R&D tax concession refund - 114
Other Grant co-funded drilling - 150
Net Operating Cash Flows (1,074) (2,776)
Cash flows related to investing activities
1.8 Payment for purchases: (a) prospects (400) (400)
(b) equity investments - -
(c) other fixed assets (3) (7)
1.9 Proceeds from sale of: (a)prospects - -
(b)equity investments - -
(c)other fixed assets - -
1.10 Loans to other entities - -
1.11 Loans repaid by other entities - -
1.12 Other (provide details if material) - -
Net investing cash flows (403) (407)
1.13 Total operating and investing cash flows
(carried forward) (1,477) (3,183)
+ See chapter 19 for defined terms.
30/9/2001 Appendix 5B Page 12
Appendix 5B
Mining exploration entity quarterly report
1.13 Total operating and investing cash flows
(brought forward) (1,477) (3,183)
Cash flows related to financing activities
1.14 Proceeds/(refunds) from issues of shares,
options, etc. 28 3,292
1.15 Proceeds from sale of forfeited shares - -
1.16 Proceeds from borrowings - -
1.17 Repayment of borrowings - -
1.18 Dividends paid - -
1.19 Other capital raising costs - (12)
Net financing cash flows 28 3,280
Net increase (decrease) in cash held (1,449) 97
1.20 Cash at beginning of quarter/year to date 3,824 2,278
1.21 Exchange rate adjustments to item 1.20 - -
1.22 Cash at end of quarter 2,375 2,375
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 1.2 148
1.24 Aggregate amount of loans to the parties included in item 1.10 -
1.25 Explanation necessary for an understanding of the transactions
Item 1.23 - Remuneration of Directors.
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
-
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
-
+ See chapter 19 for defined terms.
30/9/2001 Appendix 5B Page 13
Appendix 5B
Mining exploration entity quarterly report
Financing facilities available
Add notes as necessary for an understanding of the position.
Amount available Amount used
$A'000 $A'000
3.1 Loan facilities - -
3.2 Credit standby arrangements - -
Estimated cash outflows for next quarter
$A'000
4.1 Exploration and evaluation 600
4.2 Development -
4.3 Production -
4.4 Administration 150
Total 750
Reconciliation of cash
Reconciliation of cash at the end of the quarter (as Current quarter Previous quarter
shown in the consolidated statement of cash flows) to $A'000 $A'000
the related items in the accounts is as follows.
5.1 Cash on hand and at bank 63 126
5.2 Deposits at call 2,312 3,698
5.3 Bank overdraft - -
5.4 Other (provide details) - -
Total: cash at end of quarter (item 1.22) 2,375 3,824
Changes in interests in mining tenements
Tenement Nature of interest Interest at Interest at
reference (note (2)) beginning end of
of quarter quarter
6.1 Interests in mining E51/1096 Relinquished 80% 0%
tenements relinquished,
reduced or lapsed
6.2 Interests in mining E45/2500 to Completed Earn In Agmt 0% 100%
tenements acquired or E45/2503 and Purchase of residual 0% 100%
increased E45/2561 interest. 0% 100%
E45/2657 0% 100%
E45/2658 0% 100%
+ See chapter 19 for defined terms.
30/9/2001 Appendix 5B Page 14
Appendix 5B
Mining exploration entity quarterly report
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 Amount paid up per
security (see note security (see note 3)
3) (cents) (cents)
7.1 Preference
+securities - -
(description)
7.2 Changes during
quarter
(a) Increases
through issues - -
(b) Decreases
through returns of
capital, buy-
backs,
redemptions - -
7.3 +Ordinary
securities 79,161,435 79,161,435
7.4 Changes during
quarter
(a) Increases
through issues 275,000 275,000
(b) Decreases
through returns of
capital, buy-backs - -
(c) Released from
Escow - -
7.5 +Convertible
debt securities - -
(description)
7.6 Changes during
quarter
(a) Increases
through issues - -
(b) Decreases
through securities
matured,
converted - -
7.7 Options Exercise price Expiry date
(description and 100,000 - 20 cents 23/3/2011
conversion factor) 100,000 - 45 cents 15/5/2011
250,000 - 52.5 cents 7/12/2011
50,000 - 50 cents 9/8/2012
500,000 - 53.5 cents 30/11/2012
400,000 - 55 cents 30/11/2012
400,000 - 70 cents 30/11/2012
125,000 - 50 cents 30/11/2012
325,000 - 30 cents 30/6/2013
500,000 - 10 cents 28/2/2014
7.8 Issued during
quarter - -
7.9 Exercised during
quarter 275,000 - 10 cents 28/2/2014
+ See chapter 19 for defined terms.
30/9/2001 Appendix 5B Page 15
Appendix 5B
MMiinniinngg eexxpplloorraattiioonn eennttiittyy qquuaarrtteerrllyy rreeppoorrtt
7.10 Expired during
quarter - -
7.11 Debentures
(totals only) - -
7.12 Unsecured notes
(totals only) - -
CCoommpplliiaannccee ssttaatteemmeenntt
1 TTThhhiiisss ssstttaaattteeemmmeeennnttt hhhaaasss bbbeeeeeennn ppprrreeepppaaarrreeeddd uuunnndddeeerrr aaaccccccooouuunnntttiiinnnggg pppooollliiiccciiieeesss wwwhhhiiiccchhh cccooommmppplllyyy wwwiiittthhh
aaccccoouunnttiinngg ssttaannddaarrddss aass ddeeffiinneedd iinn tthhee Corporations Act oorr ootthheerr ssttaannddaarrddss aacccceeppttaabbllee ttoo
ASX (see note 4).
2 TTThhhiiisss ssstttaaattteeemmmeeennnttt dddoooeeesss gggiiivvveee aaa tttrrruuueee aaannnddd fffaaaiiirrr vvviiieeewww ooofff ttthhheee mmmaaatttttteeerrrsss dddiiisssccclllooossseeeddd...
Sign here: Date: 29 JJuullyy 22001100
(Company secretary)
Print name: KKeevviinn HHaarrtt
Notes
1 TTThhheee qqquuuaaarrrttteeerrrlllyyy rrreeepppooorrrttt ppprrrooovvviiidddeeesss aaa bbbaaasssiiisss fffooorrr iiinnnfffooorrrmmmiiinnnggg ttthhheee mmmaaarrrkkkeeettt hhhooowww ttthhheee eeennntttiiitttyyy'''sss
aaaccctttiiivvviiitttiiieeesss hhhaaavvveee bbbeeeeeennn fffiiinnnaaannnccceeeddd fffooorrr ttthhheee pppaaasssttt qqquuuaaarrrttteeerrr aaannnddd ttthhheee eeeffffffeeecccttt ooonnn iiitttsss cccaaassshhh pppooosssiiitttiiiooonnn... AAAnnn
eeennntttiiitttyyy wwwaaannntttiiinnnggg tttooo dddiiisssccclllooossseee aaaddddddiiitttiiiooonnnaaalll iiinnnfffooorrrmmmaaatttiiiooonnn iiisss eeennncccooouuurrraaagggeeeddd tttooo dddooo sssooo,,, iiinnn aaa nnnooottteee or
nnootteess aattttaacchheedd ttoo tthhiiss rreeppoorrtt..
2 TTThhheee """NNNaaatttuuurrreee ooofff iiinnnttteeerrreeesssttt""" (((iiittteeemmmsss 666...111 aaannnddd 666...222))) iiinnncccllluuudddeeesss oooppptttiiiooonnnsss iiinnn rrreeessspppeeecccttt ooofff
iiinnnttteeerrreeessstttsss iiinnn mmmiiinnniiinnnggg ttteeennneeemmmeeennntttsss aaacccqqquuuiiirrreeeddd,,, eeexxxeeerrrccciiissseeeddd ooorrr lllaaapppssseeeddd ddduuurrriiinnnggg ttthhheee rrreeepppooorrrtttiiinnnggg pppeeerrriiioooddd...
IIff tthhee eennttiittyy iiss iinnvvoollvveedd iinn aa jjooiinntt vveennttuurree aaggrreeeemmeenntt aanndd tthheerree aarree ccoonnddiittiioonnss pprreecceeddeenntt
wwwhhhiiiccchhh wwwiiillllll ccchhhaaannngggeee iiitttsss pppeeerrrccceeennntttaaagggeee iiinnnttteeerrreeesssttt iiinnn aaa mmmiiinnniiinnnggg ttteeennneeemmmeeennnttt,,, iiittt ssshhhooouuulllddd dddiiisssccclllooossseee ttthhheee
ccchhhaaannngggeee ooofff pppeeerrrccceeennntttaaagggeee iiinnnttteeerrreeesssttt aaannnddd cccooonnndddiiitttiiiooonnnsss ppprrreeeccceeedddeeennnttt iiinnn ttthhheee llliiisssttt rrreeeqqquuuiiirrreeeddd fffooorrr iiittteeemmmsss 666...111
and 6.2.
3 IIssssuueedd aanndd qquuootteedd sseeccuurriittiieess TThhee iissssuuee pprriiccee aanndd aammoouunntt ppaaiidd uupp iiss nnoott
rreeqquuiirreedd iinn iitteemmss 77..11 aanndd 77..33 ffoorr ffuullllyy ppaaiidd sseeccuurriittiieess.
4 TThhee ddeeffiinniittiioonnss iinn,, aanndd pprroovviissiioonnss ooff,, AAASASBB 66:: EExxpplloorraattiioonn ffoorr aanndd EvEvaalluuaattiioonn ooff
Mineral Resources and AAASASBB 110077:: CCaasshh FlFlooww SSttaatteemmeennttss aappppllyy ttoo tthhiiss rreeppoort.
5 AAccccoouunnttiinngg SSttaannddaarrddss AASSXX wwiillll aacccceepptt,, ffoorr eexxaammppllee,, tthhee uussee ooff IInntteerrnnaattiioonnaall
AAAccccccooouuunnntttiiinnnggg SSStttaaannndddaaarrrdddsss fffooorrr fffooorrreeeiiigggnnn eeennntttiiitttiiieeesss... IIIfff ttthhheee ssstttaaannndddaaarrrdddsss uuussseeeddd dddooo nnnooottt aaaddddddrrreeessssss aaa tttooopppiiiccc,,,
tthhee AAuussttrraalliiaann ssttaannddaarrdd oonn tthhaatt ttooppiicc ((iiff aannyy)) mmuusstt bbee ccoommpplliieedd wwiitthh..
== == == == ==
++ SSeeee cchhaapptteerr 1199 ffoorr ddeeffiinneedd tteerrmmss..
30/9/2001 Appendix 5B Page 16
Welcome to noodls!
noodls is the first global aggregator of official information in real-time.
If you want to know more about noodls and how it will help you keep in touch with your leading sources, click here.
Join today and get real-time coverage on:
- Encounter Resources Limited
- Finance 1 noodls today
- Oil and Gas 1 noodls today
- Oil and Gas Extraction Companies
- Australian Securities Exchange (ASX) 1 noodls today
Join now and you will also be granted a 90-day free demo of our paid services.