Announcement PDF ASX Announcement 30 October 2023 ASX: OD6 Quarterly Activities and Cashflow Report OD6 Metals Limited (OD6 or the Company) is pleased to present its Quarterly Activities and Cashflow Report for the period ending 30 September 2023 Highlights (including subsequent events): • Maiden 344Mt @ 1,308ppm TREO (at 1,000ppm cut-off grade) Inferred Mineral Resource Estimate (MRE) declared at Splinter Rock Rare Earth Project1 • Phase 3 drilling now complete at Splinter Rock, with 145 total holes drilled for 7,435m at approximate average depth of 51m and maximum depth of 104m • Initial assay results for Phase 3 drilling at Splinter Rock significantly expanded the Prop Prospect potential, with grades of up to 4,159 ppm Total Rare Earth Oxides (TREO) • Centre assay results due to be available at the start of November • ANSTO metallurgical results are due to be available in November • Observed clay thickness continues to correlate strongly with data obtained from previously completed Airborne Electromagnetic Survey (AEM) • Real and substantial potential for Mineral Resource expansion based on these initial results • Cash balance at the end of the September quarter remains strong at A$2.03M with an additional significant Research and Development (R&D) tax rebate expected to be received in the current quarter. Brett Hazelden, Managing Director, commented: “I’m pleased to report on what has been another exciting quarter of exploration and project advancement, culminating in the declaration of a large, high-grade maiden MRE at Splinter Rock. This immediately put us on the map with our Splinter Rock Project emerging as one of the largest and highest-grade clay-hosted rare earth resources in Australia. Our exploration team completed Phase 3 drilling, with a total of 145 total holes drilled for 7,435m. Initial results returned fantastic outcomes, with observed grades in combination with clay length and thickness significantly expanding Prop’s potential. We continue to prudently manage exploration spend, with our treasury position remain strong which is anticipated to be further bolstered by a large R&D tax rebate during the current quarter. The OD6 team is excited for the next phase of project advancement where we delve into the pending results from the ANSTO mineralogy and metallurgical test work.” 1. For full details on the Mineral Resource Estimate, refer to ASX release dated 18 July 2023. OD6 confirms that it is not aware of any new information or data that materially affects the information included in those releases. All material assumptions and technical parameters underpinning those releases continues to apply and has not materially changed. 1 Exploration and Development (including subsequent events) Splinter Rock OD6 announced a Maiden Inferred Mineral Resource Estimate (MRE) of 344Mt @ Mineral 1,308ppm TREO at 1,000ppm cut-off grade Mineral Resource estimate for its Splinter Resource Rock Rare Earth Project (refer ASX release, 18 July 2023) Estimate The Mineral Resource is expressed as Total Rare Earth Oxide (TREO), represented by: TREO (Total Rare Earth Oxide) = La2O3 + CeO2 + Pr6O11 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb4O7 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3 The key magnet rare earth elements Neodymium (Nd), Praseodymium (Pr), Terbium (Tb) and Dysprosium (Dy) are included individually as these four rare earths comprise the highest price and demand, driving the future economics of the Project. The Mineral Resource is presented as elemental oxides (as opposed to elements) in accordance with current industry practice. Table 1: Splinter Rock Rare Earth project Inferred Mineral Resource Estimate - by Prospect at 1,000ppm TREO cut off grade Prospect Tonnes (Mt) TREO (ppm) Pr6O11 (ppm) Nd2O3 (ppm) Tb4O7 (ppm) Dy2O3 (ppm) MREO (ppm) MREO/ TREO (%) Centre 149 1,423 71.2 244.6 2.6 14.1 329 23.1 Scrum 120 1,222 57.7 208.1 2.7 14.7 283 23.2 Flanker 42 1,246 58.9 210.9 2.9 16.0 288 23.2 Prop 33 1,180 49.9 179.4 2.3 12.9 244 20.7 Total 344 1,308 62.5 220.2 2.6 14.5 300 22.9 The Mineral Resource for Splinter Rock has was reported at a 1,000 ppm TREO cut-off grade. The cut-off grade was chosen on the basis of a preliminary review of the parameters that would likely determine the economic viability of an open pit operation and with comparison with other clay hosted REE deposits. The Mineral Resource was estimated cumulatively for consecutive grade groups which allows for the results to be reported cumulatively for different cut-off grades and presented for comparison purposes (refer Table 2). Table 2: Splinter Rock Rare Earth project Mineral Resource Estimate - by global cut off grade JORC Category Cut-off ppm TREO Tonnes (Mt) TREO (ppm) Pr6O11 (ppm) Nd2O3 (ppm) Tb4O7 (ppm) Dy2O3 (ppm) MREO (ppm) Inferred 400 1,141 869 41.3 144.5 1.8 10.0 198 Inferred 600 838 1,006 48.0 168.7 2.1 11.4 230 Inferred 800 583 1,140 54.6 192.1 2.3 12.8 262 Inferred 1,000 344 1,308 62.6 220.3 2.6 14.5 300 Inferred 1,200 196 1,471 70.6 248.1 2.9 15.9 338 Inferred 1,400 105 1,625 78.2 274.1 3.1 16.8 372 2 High Grade OD6 reported initial assay results for Phase 3 drilling at Splinter Rock that significantly Phase 3 Drill expanded the Prop Prospect potential (refer ASX release, 21 September 2023). results at Prop Prospect Highlights included: • Outstanding initial assay results from 78 holes of the completed 145-hole program. • Grades of up to 4,159 ppm Total Rare Earth Oxides (TREO) returned, with extensive clay thickness of up to 56m at consistently high grades. • Clays confirmed across a 11km length at Prop with widths between 4 to 5km. • Returned assays in 61% of holes show grades in excess of 1,000ppm TREO. • High value Magnet Rare Earth Oxides (MREO) represent an average of ~21% of TREO grade. • Drill results strongly correlate with interpreted data from AEM, validating geological modelling and exploration program design. • Real and substantial potential for Mineral Resource expansion based on these results. • Pending assay results at Centre are expected to be progressively received during November 2023. • All assays using 4-acid soluble digestion (i.e. does not assay for resistate non-acid soluble REE minerals). • The Phase 3 drill program received funding through the Western Australian Government’s Exploration Incentive Scheme Co-funded drilling program. Significant high-grade clay-hosted rare earth intersections include: • 56 metres at 1,111ppm TREO (23.40% MREO) from surface (SRAC0406) • • Including 30 metres at 1,646ppm TREO (24.0% MaREO) from 24 meters 40 metres at 1,308ppm TREO (21.9% MREO) from 21 metres (SRAC0377) • Including 28 metres at 1,646ppm TREO (21.8% MREO) from 33 metres • 36 metres at 1,206ppm TREO (22.7% MREO) from 30 metres (SRAC0410) • 25 metres at 1,257ppm TREO (25.7% MREO) from 15 metres (SRAC0408) • 37 metres at 1,143ppm TREO (23.3% MREO) from 45 metres (SRAC0425) • 27 metres at 1,141ppm TREO (23.2% MREO) from 51 metres (SRAC0401) • 33 metres at 1,065ppm TREO (21.9% MREO) from 21 metres (SRAC0398) • 14 metres at 1,628ppm TREO (23.8% MREO) from 27 metres (SRAC0432) 3 Figure 1: Splinter Rock Project, Prop Prospect Drilling Results. Showing max down hole assay, overlaid on the AEM Mid time electromagnetic conductivity model. Orange and red areas are interpreted to indicate thicker clay zones, with blue, green and yellow areas the granites. Refer to ASX Announcement, 15 December 2022). Phase 3 Drilling OD6 advised that the Phase 3 drilling was completed at is Splinter Rock Project (refer ASX Completed release, 15 August 2023) • Total of 145 holes drilled for 7,435m at approximate average depth of 51m and maximum depth of 104m. • Program designed to test the length extension and determine the grade continuity and thickness at key Centre and Prop Prospect areas. • The Phase 3 drilling has identified clays across a 16km length at Centre and 11km length at Prop with widths between 4 to 5 km previously identified in Phase 1 and 2 drilling. • Observed clay thickness continues to correlate strongly with data obtained from previously completed AEM. • Strong potential for a Mineral Resource Estimate expansion and classification upgrade Q4 2023. 4 Figure 2: AEM Mid time electromagnetic conductivity model of Scrum and Centre Prospects with infill drilling locations shown in red. Yellow, red, pink areas interpreted to indicated thicker clay zones, with blue areas the granites). Figure 3: AEM Mid time electromagnetic conductivity model of Flanker and Prop Prospects with infill drilling locations shown in red. Yellow, red, pink areas interpreted to indicated thicker clay zones, with blue areas the granites). 5 R&D Tax Offset OD6 has submitted the Company’s 2022/23 R&D Tax Incentive claim for eligible Australian R&D activities at the Splinter Rock and Grass Patch clay hosted rare earth projects • OD6 expects the R&D tax offsets to be received during the current quarter. • The Company expects to continue R&D works and anticipates being able to claim future tax offsets over the coming years. • The Company is fully committed to R&D as it continues to develop critical minerals technologies through relationships with the CSIRO, Murdoch University, ANSTO, private research providers and internally. Heritage Heritage Surveys were completed for the Phase 3 drilling program at Splinter Rock with the Surveys Ngadju Native Title Aboriginal Corporation. Progressing at Splinter Rock New heritage surveys began in October for the Phase 4 drilling program which will include close spaced (200m) drill lines and further regional target reconnaissance. Environmental Spring environmental surveys are being conducted at Splinter Rock to enable infill drilling Surveys at and new drill tracks for regional drilling to be undertaken. This data is provided to the Splinter Rock Department of Mines (DIMIRS) to assist in timely approvals for permits of work (PoW). Phase 2 ANSTO Phase 2 metallurgical testing progressed at ANSTO during the quarter and aims to: Metallurgical Tests Commenced • Develop further understanding of the leachability of rare earths under lower acid or desorption conditions over a longer leach time frame • Understand leach performance using saline water vs fresh water. • Test leach performance of the coarse and fines fractions following screening at 75µm • Develop a standard test procedure for the screening of a large number of test samples for potential RE recovery 62 new metallurgical samples have been sent to ANSTO for initial acid leach tests. These samples have been selected from a wide variety of different clays, locations and depths to continue to build an geo-metallurgical understanding of recovery across the four main prospects at Splinter Rock. Additional metallurgical samples will also be selected from the Phase 3 Splinter Rock drilling program once assays have been reviewed. Metallurgical samples (10) from Grass Patch are with ANSTO for initial acid leach tests. 6 Mineralogy Mineralogy characterisation and testing is currently being conducted in conjunction with characterisation CSIRO, ANSTO and Murdoch University. The REE and clay host mineralogy is important for in depth understanding of why higher recoveries can be achieved in particular Prospect areas. Geometallurgy (GeoMet) refers to the practice of combining variables such as geology, grade, volume, geochemistry, mineralogy and metallurgy to combine economic models with exploration. The aim is to optimise the economics of a deposit to facilitate the identification and ranking of preferred initial mining areas across clay hosted prospects. As Splinter Rock’s GeoMet relationships are systemically mapped, clay areas containing the highest grades and metallurgical recoveries of rare earth elements can be identified and targeted for advanced stage work streams. Various mineralogy testing methods are being undertaken, which include quantitative XRD, SEM/EDS and QEMSCAN. Determining the mineralogical composition of the high-grade areas is key to designing an economically successful processing facility. Works Works are proceeding to plan currently. Progressing as Planned 7 Corporate Annual Report and Corporate Governance OD6 Metals issued its Annual Reports to Shareholders (refer ASX release) along with its Annual General OD6 Metals will hold its Annual General Meeting (AGM) at 9am on 23 November 2023. For a Meeting copy of the Notice of Meeting please refer to ASX release, 13 October 2023. ESG Foundation OD6 recognises that implementing environmental, social and governance (ESG) practices in the resources sector plays an important role in generating long-term sustainable outcomes. Initiatives Continue Corporate Governance Statement and Appendix 4G (refer ASX release) to the ASX on 6 September 2023. The Company was please to include an inaugural ESG section in its 2022/23 Annual Report (refer ASX release, 6 September 2023). Cash Holdings Securities on Issue The Company had A$2.03M million of cash on hand at 30 September 2023 Fully Paid Ordinary Shares 102,450,745 Performance rights OPTIONS 2,500,000 30,200,371 Fully paid ordinary shares include 47,435,249 shares escrowed until 22 June 2024 5,675,000 shares were released from escrow on 4 January 2023. The 2,500,000 Performance Rights on issue are classified as restricted securities by the ASX and are to be held in escrow until 22 June 2024. Options on issue comprise: • 22,050,371 Founder Options exercisable at A$0.30 on or before 31 October 2025. • 3,850,000 Incentive Options exercisable at A$0.30 on or before 31 March 2026. • 300,000 Contractor Options exercisable at A$0.30 on or before 13 April 2025. • 1,500,000 Performance Options exercisable at A$0.50 on or before 31 March 2026. • 2,500,000 Lead Manager Options exercisable at A$0.30 on or before 20 June 2025. • 900,000 Performance Options exercisable at A$0.30 on or before 09 October 2026 As at 30 September 2023 none of the performance milestones of the Performance Rights had been met, nor had any shares been issued on conversion of Performance Rights. 8 A summary of the performance milestones is outlined below: Borrowings CLASS NUMBER MILESTONE EXPIRY DATE A 1,000,000 The Company announcing to ASX a JORC Code compliant inferred (or greater) Mineral Resource (as defined in the JORC Code) of not less than 250,000,000 tonnes (of which at least 100,000,000 tonnes must be an indicated Mineral Resource), grading a minimum of 800 ppm total rare earth oxides (TREO). 22 June 2024 B 1,500,000 Upon completion of a scoping study on a Project (prepared in accordance with the guidelines prescribed by the JORC Code and independently verified by an independent competent person under the JORC Code) that demonstrates an internal rate of return (IRR) of more than 20%. 22 June 2025 The Company has no borrowings Expenditure Comparison to In accordance with Listing Rule 5.3.4, as the September 2023 quarter was in a period IPO Prospectus covered by a “Use of Funds” statement in the IPO Prospectus, below is a comparison of the Company’s actual expenditure to 30 September 2023 compared with the “Use of Funds” statement. Use of Funds under USE OF FUNDS UNDER PROSPECTUS Prospectus DATED 10 MAY 2022 1 EXPENDITURE ALLOCATED UNDER PROSPECTUS 2 YEAR PERIOD (A$’000) ACTUAL EXPENDITURE TO DATE 30 September 2023 (A$’000) Exploration on the Splinter Rock Project 5,802 3,401 Exploration on the Grass Patch Project 1,510 1373 Expenses of the Offer 656 603 General working capital1 1,304 1,860 Totals 9,272 7,238 Includes purchases of Property, Plant and Equipment Exploration Exploration and Evaluation expenditure during the quarter was A$1,070k. Expenditure Expenditure included drilling campaigns at Splinter Rock, assays, geophysics survey interpretation, site visits, heritage surveys, track upgrades, drilling preparations, ANSTO metallurgical testing, mineralogy, CSIRO research and geological investigation Related Party During the quarter ended 30 September 2023, payments to related parties amounted to Transactions A$135k, comprising of Managing Director Fees, Non-Executive Director fees, Superannuation and geological consulting fees to GeoSpy Pty Ltd, which is an entity controlled by Darren Holden. 9 Mineral Interests Exploration Schedule of Exploration Licenses (E) held end of September 2023 Quarter Tenements PROJECT TENEMENT NUMBER HOLDER STATUS GRANTED OWNERSHIP Splinter Rock E 63/2115 Odette Six Pty Ltd Granted 4 Feb 22 100% Splinter Rock E 69/3904 Odette Six Pty Ltd Granted 15 Feb 22 100% Splinter Rock E 69/3905 Odette Six Pty Ltd Granted 15 Feb 22 100% Splinter Rock E 69/3907 Odette Six Pty Ltd Granted 14 Feb 22 100% Splinter Rock E 69/3893 Odette Six Pty Ltd Granted 20 Jan 22 100% Splinter Rock E 69/3894 Odette Six Pty Ltd Granted 20 Jan 22 100% Grass Patch E 63/2185 Grass Patch Metals Pty Ltd Granted 1 Mar 22 100% Grass Patch E 63/2151 Grass Patch Metals Pty Ltd Granted 2 Dec 21 100% Grass Patch E 63/2152 Grass Patch Metals Pty Ltd Granted 3 Dec 21 100% Grass Patch E 63/2154 Grass Patch Metals Pty Ltd Granted 6 Dec 21 100% Grass Patch E 63/2153 Grass Patch Metals Pty Ltd Application - 100% Grass Patch E 74/693 Grass Patch Metals Pty Ltd Application - 100% Figure 4: OD6 Granted and Application exploration Licenses in the Esperance region of Western Australia 10 Quarterly ASX Announcements (including Subsequent Events) This Quarterly Activities Report contains information extracted from ASX market announcements reported in accordance with the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (2012 JORC Code). Further details (including 2012 JORC Code reporting tables where applicable) of exploration results referred to in this Quarterly Activities Report can be found in the following announcements lodged on the ASX: 13/10/2023 Notice of Annual General Meeting / Proxy From 03/10/2023 Annual General Meeting Information 21/09/2023 Phase 3 Drill Results Significantly Expand Prop Potential 18/09/2023 Change of share registry address notification 06/09/2023 Corporate Governance Statement & Appendix 4G 06/09/2023 Annual Report to Shareholders 15/08/2023 Phase 3 Drilling Complete at Splinter Rock REE Project 18/07/2023 Investor Presentation 18/07/2023 Splinter Rock Maiden Mineral Resource 10/07/2023 Quarterly Activities Report / Appendix 5B Cash Flow Report 06/07/2023 Investor Presentation – Broker Briefing Mining & Resources These announcements are available for viewing on the Company’s website https://www.od6metals.com.au/. OD6 confirms that it is not aware of any new information or data that materially affects the information included in any original ASX announcement. The information in this report relating to the Mineral Resource estimate for the Splinter Rock Project is extracted from the Company’s ASX announcement dated 18 July 2023. OD6 confirms that it is not aware of any new information or data that materially affects the information included in the original announcement and that all material assumptions and technical parameters underpinning the Mineral Resource estimate continue to apply. Forward Looking Statements Certain information in this document refers to the intentions of OD6 Metals, however these are not intended to be forecasts, forward looking statements, or statements about the future matters for the purposes of the Corporations Act or any other applicable law. Statements regarding plans with respect to OD6 Metals projects are forward looking statements and can generally be identified by the use of words such as ‘project’, ‘foresee’, ‘plan’, ‘expect’, ‘aim’, ‘intend’, ‘anticipate’, ‘believe’, ‘estimate’, ‘may’, ‘should’, ‘will’ or similar expressions. There can be no assurance that the OD6 Metals plans for its projects will proceed as expected and there can be no assurance of future events which are subject to risk, uncertainties and other actions that may cause OD6 Metals actual results, performance, or achievements to differ from those referred to in this document. While the information contained in this document has been prepared in good faith, there can be given no assurance or guarantee that the occurrence of these events referred to in the document will occur as contemplated. Accordingly, to the maximum extent permitted by law, OD6 Metals and any of its affiliates and their directors, officers, employees, agents and advisors disclaim any liability whether direct or indirect, express or limited, contractual, tortuous, statutory or otherwise, in respect of, the accuracy, reliability or completeness of the information in this document, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement; and do not make any representation or warranty, express or implied, as to the accuracy, reliability or completeness of the information in this document, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement; and disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for negligence). This announcement has been authorised for release by the Board of OD6 Metals Ltd 11 About OD6 Metals OD6 Metals is an Australian public company pursuing exploration and development opportunities within the critical mineral sector. The Company has successfully identified clay hosted rare earths at its 100% owned Splinter Rock and Grass Patch Projects, which are located in the Esperance-Goldfields region of Western Australia - about 30 to 150km northeast of the major port and town of Esperance. Drilling and geological analysis at its flagship Splinter Rock has shown widespread, thick, high-grade clay hosted REE deposits that extend over hundreds of square kilometres. Metallurgical testing using hydrochloric acid to leach the rare earths have resulted in positive REE recoveries with optimisation ongoing. The Company aims to delineate and define economic resources and reserves of Rare Earth Elements (REE), in particular Neodymium (Nd), Praseodymium (Pr), Dysprosium (Dy) and Terbium (Tb), which can be developed into a future revenue generating mine. Clay REE deposits are currently economically extracted in China, which is the dominant world producer of REEs. REE are becoming increasingly important in the global economy, with uses including advanced electronics and permanent magnets in electric motors. As an example, a neodymium magnet used in a wind turbine or electric vehicle motor is 18 times stronger than a standard ferrite magnet significantly increasing energy use efficiency. As part of the exploration process the Company has entered into heritage agreements with Esperance Tjaltrjraak Native Title Aboriginal Corporation and the Ngadju Native Title Aboriginal Corporation that serves to both enable exploration and protect important cultural sites on Country. Corporate Directory Managing Director Mr Brett Hazelden Non-Executive Chairman Dr Darren Holden Non-Executive Director Mr Piers Lewis Non-Executive Director Dr Mitch Loan Financial Controller/ Joint Company Secretary Mr Troy Cavanagh Joint Company Secretary Mr Joel Ives Exploration Manager Tim Jones Contact OD6 Metals Ltd ACN 654 839 602 www.od6metals.com.au Mail to: info@od6metals.com.au Phone: +61 8 6189 8515 Level 1, 50 Kings Park Road, West Perth, WA 6005 PO Box 277, North Beach, WA 6920 PO Box 2009, Esperance, WA 6450 12 Rule 5.5 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Name of entity OD6 Metals Limited ABN Quarter ended (“current quarter”) 34 654 839 602 30 September 2023 Consolidated statement of cash flows Current quarter $A’000 1. Cash flows from operating activities 1.1 Receipts from customers 1.2 Payments for Year to date (3 months) $A’000 - - (a) exploration & evaluation - - (b) development - - (c) production - - (d) staff costs (86) (86) (e) administration and corporate costs (352) (352) - - 32 32 1.3 Dividends received (see note 3) 1.4 Interest received 1.5 Interest and other costs of finance paid - - 1.6 Income taxes paid - - 1.7 Government grants and tax incentives - - 1.8 Other (provide details if material) - - 1.9 Net cash from / (used in) operating activities (406) (406) 2. Cash flows from investing activities 2.1 Payments to acquire or for: - - (b) tenements (15) (15) (c) property, plant and equipment (12) (12) (1,048) (1,048) (e) investments - - (f) - - (a) entities (d) exploration & evaluation other non-current assets ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 1 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Consolidated statement of cash flows 2.2 Current quarter $A’000 Year to date (3 months) $A’000 Proceeds from the disposal of: (a) entities - - (b) tenements - - (c) property, plant and equipment - - (d) investments - - (e) other non-current assets - - 2.3 Cash flows from loans to other entities - - 2.4 Dividends received (see note 3) - - 2.5 Other (provide details if material) - - 2.6 Net cash from / (used in) investing activities (1,075) (1,075) 3. Cash flows from financing activities 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) - - 3.2 Proceeds from issue of convertible debt securities - - 3.3 Proceeds from exercise of options - - 3.4 Transaction costs related to issues of equity securities or convertible debt securities - 3.5 Proceeds from borrowings - - 3.6 Repayment of borrowings - - 3.7 Transaction costs related to loans and borrowings - - 3.8 Dividends paid - - 3.9 Other (provide details if material) 3.10 Net cash from / (used in) financing activities 4. Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 3,515 3,515 4.2 Net cash from / (used in) operating activities (item 1.9 above) (406) (406) 4.3 Net cash from / (used in) investing activities (item 2.6 above) (1,075) (1,075) 4.4 Net cash from / (used in) financing activities (item 3.10 above) - - ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. - Page 2 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Consolidated statement of cash flows 4.5 Effect of movement in exchange rates on cash held 4.6 Cash and cash equivalents at end of period 5. Reconciliation of cash and cash equivalents Current quarter $A’000 Year to date (3 months) $A’000 - - 2,034 2,034 Current quarter $A’000 Previous quarter $A’000 at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts 5.1 Bank balances 2,034 1,525 5.2 Call deposits - 1,990 5.3 Bank overdrafts - - 5.4 Other (provide details) - - 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 2,034 3,515 6. Payments to related parties of the entity and their associates 6.1 Aggregate amount of payments to related parties and their associates included in item 1 85 6.2 Aggregate amount of payments to related parties and their associates included in item 2 50 Current quarter $A'000 Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 3 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report 7. Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 7.1 Loan facilities - - 7.2 Credit standby arrangements - - 7.3 Other (please specify) - - 7.4 Total financing facilities - - 7.5 Unused financing facilities available at quarter end 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. 8. Estimated cash available for future operating activities 8.1 Net cash from / (used in) operating activities (item 1.9) 8.2 (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) (1,075) 8.3 Total relevant outgoings (item 8.1 + item 8.2) (1,481) 8.4 Cash and cash equivalents at quarter end (item 4.6) 2,034 8.5 Unused finance facilities available at quarter end (item 7.5) 8.6 Total available funding (item 8.4 + item 8.5) 8.7 Estimated quarters of funding available (item 8.6 divided by item 8.3) - $A’000 (406) 2,034 1.37 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 quarter