Andromeda Metals : December 2016 Quarterly Appendix 5B

Appendix 5B

+Rule 5.5

Mining exploration entity and oil and gas 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, 01/05/13, 01/09/16

Name of entity

ANDROMEDA METALS LIMITED

ABN Quarter ended ("current quarter")

75 061 503 375 31 DECEMBER 2016

Consolidated statement of cash flows Currentquarter $A'000

1. Cash flows from operating activities Year to date (6 months) $A'000

2. Receipts from customers

3. Payments for

4. exploration & evaluation

   0 0

   (351) (557)

5. development 0 0

6. production 0 0

7. staff costs* (101) (180)

8. administration and corporate costs (134) (259)

9. Dividends received (see note 3) 0 0

10. Interest received 2 4

11. Interest and other costs of finance paid 0 0

12. Income taxes paid 0 0

13. Research and development refunds 180 180

14. Other (provide details if material) 0 0

    1.9 Net cash from / (used in) operating activities (404) (812)

    '* net salaries after recharge to exploration and inclusive of director fees paid

15. Cash flows from investing activities

16. Payments to acquire:

17. property, plant and equipment

    (1) (3)

18. tenements (see item 10) 0 0

19. investments 0 0

20. other non-current assets 0 0

    Consolidated statement of cash flows Currentquarter $A'000

21. Proceeds from the disposal of:

    Year to date (6 months) $A'000

22. property, plant and equipment

    22 22

23. tenements (see item 10) 0 0

24. investments 0 0

25. other non-current assets 0 0

26. Cash flows from loans to other entities 0 0

27. Dividends received (see note 3) 0 0

28. Other (provide details if material) 0 0

    2.6 Net cash from / (used in) investing activities 21 19
29. Cash flows from financing activities

30. Proceeds from issues of shares

31. Proceeds from issue of convertible notes

    0 816

32. Proceeds from exercise of share options 0 1

33. Transaction costs related to issues of shares, convertible notes or options

    0 (74)

34. Proceeds from borrowings 0 0

35. Repayment of borrowings 0 0

36. Transaction costs related to loans and 0 0

    borrowings

37. Dividends paid 0 0

38. Other (provide details if material) 0 0

    3.10 Net cash from / (used in) financing activities 0 743
39. Net increase / (decrease) in cash and cash equivalents for the period

40. Cash and cash equivalents at beginning of period

41. Net cash from / (used in) operating activities (item 1.9 above)

42. Net cash from / (used in) investing activities (item 2.6 above)

43. Net cash from / (used in) financing activities (item 3.10 above)

44. Effect of movement in exchange rates on cash held

    4.6 Cash and cash equivalents at end of

    681 348

    (404) (812)

    21 19

    0 743

    0 0

    period 298 298

45. Reconciliation of cash and cash equivalents

    at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts

    Current quarter $A'000 Previous quarter $A'000

46. Bank balances 298 681

47. Call deposits 0 0

48. Bank overdrafts 0 0

49. Other (provide details) 0 0

    5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 298681
50. Payments to directors of the entity and their associates Currentquarter $A'000

51. Aggregate amount of payments to these parties included in item 1.2 134

52. Aggregate amount of cash flow from loans to these parties included 0

    in item 2.3

53. Include below any explanation necessary to understand the transactions included in items 6.1 and 6.2

    The amount at 6.1 comprises executive director salaries and non-executive director fees paid to directors or related corporations of directors of the Company during the quarter.

54. Payments to related entities of the entity and their associates Current quarter $A'000

55. Aggregate amount of payments to these parties included in item 1.2 0

56. Aggregate amount of cash flow from loans to these parties included 0

    in item 2.3

57. Include below any explanation necessary to understand the transactions included in items 7.1 and 7.2

58. Financing facilities available Add notes as necessary for an understanding of the position Total facility amount at quarter end $A'000 Amount drawn at quarter end $A'000

59. Loan facilities 0 0

60. Credit standby arrangements 0 0

61. Other (please specify) 0 0

62. Include below a description of each facility above, including the lender, interest rate and whether it is secured or unsecured. If any additional facilities have been entered into or are proposed to be entered into after quarter end, include details of those facilities as well.

9.	Estimated cash outflows for next quarter	$A'000
9.1	Exploration and evaluation	80
9.2	Development	0
9.3	Production	0
9.4	Staff costs	100
9.5	Administration and corporate costs	80
9.6	Other (provide details if material)	0
9.7	Total estimated cash outflows	260

10.	Changes in tenements (items 2.1(b) and 2.2(b) above)	Tenement reference and location	Nature of interest	Interest at beginning of quarter	Interest at end of quarter
10.1	Interests in mining tenements and petroleum tenements lapsed, relinquished or reduced	ELA 2016/00047	Beneficial holder	100%	0

%

10.2 Interests in mining

tenements and petroleum tenements acquired or increased

Nil

Compliance statement

1. This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.

2. This statement gives a true and fair view of the matters disclosed.

....................................

11 January 2017

Sign here: ........................ Date: .............................................

(Director/Company secretary) Nick Harding

Print name: .........................................................

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 that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.

2. If this quarterly report has been prepared in accordance with Australian Accounting Standards, 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. If this quarterly report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.

3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.