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Quarterly Activities Reportfor the Quarter Ending 31 March 2013
Nambi South Prospect - Redcliffe Gold Project • The Company completed the first phase of RC drilling at Nambi South Prospect with nine of the ten holes
returning anomalous gold intervals from composite sampling, including:
27m @ 3.55g/t inc. 20m @ 4.56g/t
10m @ 1.59g/t inc. 5m @ 2.79g/t
15m @ 1.08g/t
10m @ 1.23g/t
• Mineralisation open at depth.
• Further sampling of single metre splits has been undertaken. Results are awaited.
Manus Island Gold/Copper Project PNG• Newcrest has advised the results from the last two holes of diamond core drilling at Arie copper gold
prospect have been received and included anomalous mineralisation;
AD0002 111m @ 0.10g/t Au, 0.26% Cu from 116m
AD0003 40m @ 0.12g/t Au, 0.48% Cu from 309m
Corporate• Trident Capital has been appointed as corporate advisor to the Company.
• Rights Issue raised approximately $0.65million to fund ongoing exploration and development works.
• Joe Holloway was appointed to the board as Non-Executive Director as of 15 April 2013.
New Project The Company entered into an option over the Tunduru Copper Project in southern Tanzania in a move to
portfolio diversification. Artisanal mining in the area has been exploiting recently discovered high grade copper
mineralisation in a region subjected to little previous exploration. Due diligence is continuing with assays of
samples from the area awaited.
Western Australia Office:Suite 20, Riseley Corporate Centre135 Riseley Street, Booragoon Western Australia, 6154 P: (08) 9315 3339
ASX Code: RCF www.redclifferesources.com.au www.pacrimenergy.com.au
RedcliffeResources Limited
Victorian Office:523 Ligar Street, Ballarat Victoria, 3355P: (03) 5333 3200F: (03) 5333 3650
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Quarterly Activities Report for the Quarter Ending 31 March 2013
2Redcliffe ResourcesLimited
REDCLIFFE GOLD PROJECT
Project Description
The Company’s 100% owned Redcliffe Gold Project (“RGP”) is located 40-70km north-east of Leonora and
around 230km north of Kalgoorlie in Western Australia. The Project tenements cover a substantial strike
length of the Mertondale Shear Zone where currently estimated gold resources of 278,000 ounces have been
discovered in a number of deposits. All of which are contained within granted mining leases.
The focus of activity at RGP has shifted from development of larger targets to higher grade near surface
mineralisation with the potential for short lead time, low cost development to generate cash flow. Prospects
being advanced include 727, Nambi South and Kelly High Grade. Activity in the quarter focused on work on the
Kelly and Nambi South Prospects. A summary of this activity is outlined below.
Kelly Deposit
The gold mineralisation at Kelly has been interpreted to be comprised of a large number of stacked parallel
lodes, moderately dipping to the east. The mineralised zone is approximately 150 metres wide in plan-view
and strikes approximately north. These primary lodes do not appear to be controlled or constrained by the
lithological units, nor the weathering profile and are therefore assumed to be structurally emplaced via brittle
deformation events.
Development Approach
Considering the issues facing the Company in seeking to advance the Golden Terrace South deposit, the
directors are reviewing available options in pursuing mine development. With the advancement of the Kelly
prospect and the nature of mineralisation associated with this prospect options being considered include toll
treatment of a higher grade zone within the deposit and processing options that include heap leach processing
of the larger mineralised system.
A series of selected sample intervals have been retrieved from the coarse reject RC drill samples stored in the
Leonora sample farm and submitted to on site laboratories for analytical and metallurgical test-work aimed
at assessing amenability to gold extraction by heap leaching. Column leach tests are to be undertaken to
determine leach parameters including gold recoveries versus time.
The Company is considering proposals from consultants to assist in this process. If the outcome of the scoping
work is positive it will lay the foundation for the development of an independent gold production facility
potentially capable of processing the multi- million tonne gold mineralisation at Kelly.
The substantial Kelly mineralised shear system remains open in all directions with depth extensions and
potential high grade feeder zones yet to be tested. Planning for deeper drilling to include RC and diamond drill
core holes to target potential high-grade feeders for gold mineralisation and increase confidence in resource
modeling.
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Quarterly Activities Report for the Quarter Ending 31 March 2013
3Redcliffe ResourcesLimited
Nambi south pit aND em CoNDuCtor
The Nambi and Nambi South Prospects are located in the northern sector of the RGP tenure, approximately
60km north-east of Leonora, WA. They lie within a granted mining lease where several small open pits were
mined in the early 1990s to produce approximately 90,000 ounces.
Nambi South was the focus of a drilling programme in the quarter as the Company sought near surface higher
grade mineralisation suitable for development in the near term. The Nambi South Pit is a shallow (26m)
exploratory test pit, that is believed to have been excavated in the final stages of the mining operation at the
close by Nambi Pit to investigate an historic RC drill-hole intercept of 30m @ 4.86g/t gold (RERC127).
Redcliffe Resources rock chip sampling within the pit yielded supportive results with 22 samples averaging
5.03g/t, cut channel sampling was then carried out. Located data from this work, with approximated true width
intervals, is shown in accompanying figures and includes:
9m @ 4.74g/t
7m @ 5.32g/t
5.5m @ 4.96g/t
Gold from the main Nambi Pit, was mined from a mylonite shear zone which is a fresh silicified sulphide lode
zone where the pit terminated. The Nambi South Prospect pit is located approximately 400 metres along strike
from the Nambi Pit. It also lies on the projected path of a substantial EM conductor identified by the Company’s
electromagnetic survey.
The Nambi South Prospect RC drilling programme targeted this zone of gold mineralisation with the objective
of outlining extensions potentially exploitable by extending the existing shallow pit.
Zones of gold mineralisation and anomalism were identified by Redcliffe’s RC drilling from composite sampling
and geological observation.
The first phase of RC drilling at Nambi South Prospect consisted of 10 holes for a total of 847 metres for which
composite sample assays have been received. Nine of the ten holes returned anomalous gold intervals and
included the better results of 27m @ 3.55g/t including 20m @ 4.56g/t, 10m @ 1.59g/t, including 5m @ 2.79g/t,
15m @ 1.08g/t, and 10m @ 1.23g/t. High grade mineralisation is open at depth. A full listing of results is shown
on an accompanying table.
Mineralisation in the pit is associated with sheared and mylonitic rocks with limonitic stained oxidation.
The zone narrows to the north into more discrete shear zones in less altered intermediate to mafic schists.
Cardonaceous sediments are recognisable in the wall rocks along with green epidote clays. Drilling intersected
highly foliated mafic and intermediate schists and included zones of strong silicification with accompanying
sulphide mineralisation, often hosted by siliceous black shales.
Following receipt of assay data from the single metre splits, Redcliffe will review results and the exploration
potential in order to accelerate estimation of a quantifiable resource at Nambi South.
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Quarterly Activities Report for the Quarter Ending 31 March 2013
4Redcliffe ResourcesLimited
??
?
?
27m @ 3.55g/tinc. 20m @ 4.56g/t
20m @ 0.46g/tinc. 5m @ 1.23g/t
15m @ 0.17g/t
9m @ 4.74g/t
7m @ 5.32g/t
5.5m @ 4.96g/t
4m @ 0.91g/t
4m @ 1.21g/t
15m @ 0.14g/t
10m @ 0.17g/t
5m @ 0.40g/t
5m @ 0.28g/t
8m @ 1.79g/t
30m @ 4.86g/t
5m @ 6.0g/t
30m @ 0.52g/tinc. 10m @ 1.22g/t 10m @ 1.59g/t
inc. 5m @ 2.79g/t
Approx. pit outline
Redcliffe Pit Channel Samples (approx. true width)
Historic RC (position approx. - down hole width)
Redcliffe RC Composite Assays (5m - down hole width)
Intercept labels
0 20m10
REDCLIFFE GOLD PROJECT
Nambi South Prospect Pit Collar Plan April 2013 GDA94 Zone 51
0.1 to 0.5
0.5 to 1
1 to 5
> 5
MineralisationGold (g/t)
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Quarterly Activities Report for the Quarter Ending 31 March 2013
5Redcliffe ResourcesLimited
Nambi South Pit RC Drilling 5m composite Assay Results
Hole IDNorth
(m)East (m)
RL (m)
Dip Azimuth
Depth (m)
From (m)
To (m)
Interval g/t Au
NBRC101 6857580 358515 510 -60 090 78 60 70 10m @ 0.17
NBRC102 6857600 358512 513 -60 150 49 5 35 30m @ 0.52
15 25 inc 10m @ 1.23
NBRC103 6857600 358493 521 -55 090 90 35 55 20m @ 0.46
50 55 inc 5m @ 1.23
NBRC104 6857600 358480 521 -55 090 108 60 70 10 m @ 1.59
65 70 inc 5m @ 2.79
NBRC105 6857580 358480 521 -55 090 108 35 55 20m @ 0.91
40 55 inc 15m @ 1.08
NBRC106 6857560 358510 521 -60 090 96 60 65 5m @ 0.40
NBRC107 6857560 358480 521 -60 090 102 – – – –
NBRC108 6857620 358500 521 -55 090 72 45 72 27m @ 3.55
45 65 inc 20m @ 4.56
NBRC109 6857640 358512 521 -55 090 72 40 55 15m @ 0.14
NBRC110 6857660 358520 521 -55 090 72 40 55 15m @ 0.17
Grid GDA94 Zone 51 Coordinates & RLs approx. * Down-hole surveys complete, collar surveys awaited. Samples speared & composited nominal 5m. * Down-hole widths quoted. * Assays Kalassay Leonora 40g Fire Assay Assays above 0.1g/t Au quoted. Bold = +1g/t Au intercepts
358500mE 358580mE358560mE358540mE
520mRL
500mRL
460mRL
480mRL
358520mE
NBRC
108|
0 20m10
Section looking North +/- 10m April 2013 GDA94 Zone 51
0.1 to 0.5
0.5 to 1
Mineralisation
Gold (g/t)
26m
27m @ 3.55g/t(0.5g/t cut)
20m @ 4.56g/t(1.0g/t cut)
Approx. pit outline
Approx. surface
Redcliffe channels in pit (true width)
0.8m @ 17.1g/t 9m @ 4.47g/t 4m @ 1.21g/t
Nambi South Prospect Section 6857620mN
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Quarterly Activities Report for the Quarter Ending 31 March 2013
6Redcliffe ResourcesLimited
358500mE 358580mE358560mE358540mE
520mRL
500mRL
460mRL
480mRL
358520mE
0 20m10
Section looking North +/- 10m April 2013 GDA94 Zone 51
0.1 to 0.5
0.5 to 1
Mineralisation
Gold (g/t)
RERC127|
26m
15m @ 4.10g/t(0.5g/t cut)
16m @ 5.39g/t(0.5g/t cut)
Approx. pit outline
Approx. surface
Redcliffe channels in pit (true width)
Historic RC drillhole. Position approximate. No downhole survey data.
9m @ 4.47g/t
30m @ 4.86g/t(1g/t cut incl. max
2m consecutive <0.1)
30m @ 4.86g/t(1g/t cut incl. max
2m consecutive <0.1)
+0.5g/t halo+0.5g/t halo
?
?
?
?
358500mE 358580mE358560mE358540mE
520mRL
500mRL
460mRL
480mRL
358520mE
NB
RC
104|
NBRC
103|
NBRC
102|
Oblique hole projected onto section
26m
Approx. pit outline
Approx. surface
Redcliffe channels in pit (true width)
0 20m10
Section looking North +/- 10m April 2013 GDA94 Zone 51
0.1 to 0.5
0.5 to 1
1 to 5
> 5
Mineralisation
Gold (g/t)
5.5m @ 4.96g/t7m @ 5.32g/t
30m @ 0.52g/tincl. 10m @ 1.22g/t
+0.1g/t halo+0.1g/t halo
?
?
20m @ 0.46g/tincl. 5m @ 1.23g/t
10m @ 1.59g/tincl. 5m @ 2.79g/t
Nambi South Prospect Section 6857600mN
Nambi South Prospect Section 6857610mN
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Quarterly Activities Report for the Quarter Ending 31 March 2013
7Redcliffe ResourcesLimited
aliso, CaNjaDa, aND hortoN
Limited confirmatory soil sampling is to be conducted at these and other anomalies in the region to better
define targets prior to drill testing.
GolDeN terraCe south
While likely to follow lower cost short term target development the strategy of developing the Golden Terrace
South resource continues to be pursued with contact made with mill operators within reasonable trucking
distance (~140km). With the preferred processing pathway to development of this resource being by toll
treatment, the Company is encouraged by indications of increased potential mill availability in the region in the
near future.
OTHER
maNus islaND Copper GolD projeCt (pNG – NewCrest 64.8% paCrim 10%)
Newcrest PNG Exploration Limited (Newcrest), a subsidiary of Newcrest Mining Limited, is manager of the
Manus Island Project Joint Venture. Newcrest can earn a participating interest by funding A$6 million of project
expenditure. Pacrim has a 10% free carried interest to decision to mine.
Results of drilling at the Arie gold copper porphyry target, has returned anomalous mineralisation, including:
AD0002 111m @ 0.10g/t Au, 0.26% Cu from 116m
AD0003 40m @ 0.12g/t Au, 0.48% Cu from 309m
These results suggest that the lower level of a porphyry system has been intersected with limited prospectivity.
Exploration continues at Mt Dremsel where potential for both high-sulphidation and porphyry mineralisation
has been identified.
Reporting Criteria: All intercepts refer to down-hole widths. Intercepts reported are intervals greater than
10m of >0.1g/t Au with up to 21m of internal waste. Au grade reported to two significant figures. Core is
photographed and logged by the geology team before being cut in half. Half core samples are sent for
assay and the other half is retained in the core farm for future reference. Each assay batch is submitted with
duplicates and standards to monitor lab quality. Samples analysed for gold using the fire assay (FA50) technique,
Cu and other elements via ICP OES & ICP – MS 4 Acid Digest).
Hole ID Hole Type Northing
UTM (m)
Easting
UTM (m)
Collar RL
(m)
Total
Depth (m)
Azimuth
(local)
Dip From
(m)
To
(m)
Interval
(m)
Au g/t Cu
%
AD0002 DDH 9,773,717 484,681 117 405.4 32 -61 70.0 94.0 24.0 0.10 0.27
116.0 227.0 111.0 0.10 0.26
252.0 263.0 11.0 0.10 0.45
AD0003 DDH 9,773,770 485,350 150 480.9 210 -63 261.0 274.0 13.0 0.13 0.42
309.0 349.0 40.0 0.12 0.48
Incl. 316.0 327.0 11.0 0.17 1.00
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Quarterly Activities Report for the Quarter Ending 31 March 2013
8Redcliffe ResourcesLimited
tuNDuru Copper projeCt
The Tunduru Copper Project in Tanzania was selected as the first step in developing a diversified exploration
portfolio. During the quarter an option agreement was entered into with the project vendors. The presence
of high grade copper in the region has been determined from visual assessment of mineralised material and
through discussions with artisanal miners. The mineralisation appears to be shear zone related and whilst during
the past 18 months there has also been an increase in artisanal activity, previous exploration in the region has
been minimal.
As part of the due diligence process, the Company commissioned a site visit to verify information, gain a
better appreciation of artisanal activity, and open discussions with a number of key interest groups in the area.
Observation showed that artisanal activity is further advanced with one PML holder utilizing IP and shallow
diamond drilling to target continuations of high grade copper zones.
The Company considers that the licence may be prospective for gold in addition to copper. Assay results for
rock chip samples taken during the due diligence visit are awaited.
The due diligence on the project has been extended to May 2013 as the Company works with the vendor to
address a licence boundary matter prior to making a final decision to proceed.
Fosterville reGioNal joiNt veNture (loCKiNGtoN east el4552 viCtoria, paCrim 23%)
No work has been reported by the Operator, Timpetra, in respect to exploration of the joint venture area.
Corporate
Board of Directors
Joe Holloway, being a resident of PNG, was appointed as a Non-Executive Director
Capital Funding Programme
During the March Quarter the Company raised approximately $640,000 through a two for three non-
renounceable rights issue to meet the near term objectives including costs associated with drilling programmes.
mark maine
Executive Director
The information in this report, as it relates to Exploration Results and Resource Estimates, is based on information compiled and/or reviewed by Rodney Foster who is a Member of The Australasian Institute of Mining and Metallurgy. Rodney Foster is the Executive Chairman of the Company. He has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Rodney Foster consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
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Quarterly Activities Report for the Quarter Ending 31 March 2013
9Redcliffe ResourcesLimited
Appendix 5B Mining exploration entity quarterly report
+ See chapter 19 for defined terms. 17/12/2010 Appendix 5B Page 1
Rule 5.3
Appendix 5B
Mining exploration entity quarterly report Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10
Name of entity
REDCLIFFE RESOURCES LIMITED
ABN Quarter ended (“current quarter”)
63-010-856-014 31 March 2013
Consolidated statement of cash flows
Cash flows related to operating activities
Current quarter $A’000
Year to date (3 months) $A’000
1.1 Receipts from product sales and related debtors
- -
1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) administration
(200) - -
(191)
(200) - -
(191) 1.3 Dividends received - - 1.4 Interest and other items of a similar nature
received 1 1
1.5 Interest and other costs of finance paid - - 1.6 Income taxes paid - - 1.7 Other (provide details if material) - -
Net Operating Cash Flows (390) (390)
Cash flows related to investing activities
1.8 Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets
- - -
- - -
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 - -
1.13 Total operating and investing cash flows (carried forward)
(390) (390) For
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Quarterly Activities Report for the Quarter Ending 31 March 2013
10Redcliffe ResourcesLimited
Appendix 5B Mining exploration entity quarterly report
+ See chapter 19 for defined terms. Appendix 5B Page 2 17/12/2010
1.13 Total operating and investing cash flows
(brought forward) (390) (390)
Cash flows related to financing activities
1.14 Proceeds from issues of shares, options, etc. 645 645 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 – Share Issue Costs (25) (25) Net financing cash flows 620 620
Net increase (decrease) in cash held
230
230
1.20 Cash at beginning of quarter/year to date 92 92 1.21 Exchange rate adjustments to item 1.20 - -
1.22 Cash at end of quarter 322 322
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
70
1.24
Aggregate amount of loans to the parties included in item 1.10
-
1.25
Explanation necessary for an understanding of the transactions
Consulting Fees $67 Rent $ 3 $70
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
Nil
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 this quarter
Financing facilities available Add notes as necessary for an understanding of the position.
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Quarterly Activities Report for the Quarter Ending 31 March 2013
11Redcliffe ResourcesLimited
Appendix 5B Mining exploration entity quarterly report
+ See chapter 19 for defined terms. 17/12/2010 Appendix 5B Page 3
Amount available $A’000
Amount used $A’000
3.1 Loan facilities
0 0
3.2 Credit standby arrangements
0 0
Estimated cash outflows for next quarter
$A’000 4.1 Exploration and evaluation
150
4.2 Development
0
4.3 Production
0
4.4 Administration
120
Total
270
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 12 32
5.2 Deposits at call 310 60
5.3 Bank overdraft 0 0
5.4 Other (provide details) 0 0
Total: cash at end of quarter (item 1.22) 322 92
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
6.2 Interests in mining tenements acquired or increased
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Quarterly Activities Report for the Quarter Ending 31 March 2013
12Redcliffe ResourcesLimited
Appendix 5B Mining exploration entity quarterly report
+ See chapter 19 for defined terms. Appendix 5B Page 4 17/12/2010
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)
Nil Nil
7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs, redemptions
7.3 +Ordinary securities FP Ordinary securities CTG
98,199,832
400,000
98,199,832
Nil
$2.50
Fully Paid
2.5c
7.4 Changes during quarter (a) Increases through issues (b) Decreases through capital reconstruction
21,508,769
-
21,508,769
-
$0.03
Fully Paid
7.5 +Convertible debt securities (description)
Nil Nil
7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted
7.7 Options (description and conversion factor)
3,883,975 21,508,769
3,883,975 21,508,769
Exercise price
25c 5c
Expiry date
30 Nov 2013 31 Mar 2014
7.8 Issued during quarter
21,508,769 21,508,769 5c 31 Mar 2014
7.9 Exercised during quarter
Nil Nil
7.10 Expired during quarter
Nil Nil
7.11 Debentures (totals only)
Nil Nil
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13Redcliffe ResourcesLimited
Appendix 5B Mining exploration entity quarterly report
+ See chapter 19 for defined terms. 17/12/2010 Appendix 5B Page 5
7.12 Unsecured notes (totals only)
Nil Nil
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 5).
2 This statement does give a true and fair view of the matters disclosed.
Sign here: Date: 30 APRIL 2013
(Chairman / CEO) Print name: Rodney Foster
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 6: Exploration for and Evaluation of
Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. 5 Accounting Standards ASX will accept, for example, the use of International
Financial Reporting 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.
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