AUSTCHINA HOLDINGS LIMITED 31 October 2022
ACTIVITIES REPORT FOR QUARTER ENDED 30 SEPTEMBER 2022
Coal Projects
The company continues to explore alternative technologies to utilise its coal on-site which could produce products such as ammonia, methanol, hydrogen, energy and other products. These technologies look to take advantage of the developing "hydrogen economy" and alternate energy production markets. The company's focus is the long-term production of energy related products.
In addition to the developing hydrogen economy opportunities, AUH is continuing with its Due Diligence with agreement with Fortress Capital on a technology that could enhance AustChina's energy portfolio through the conversion of solid fuels including coal, municipal household and commercial waste, biomass, and other material to generate cleaner environmentally responsible electricity.
The company has tested several products including its coal from the Blackall coal deposit and another solid commercial waste product and is satisfied with the outcomes. This scalable process has the potential to reduce carbon emissions with the added benefit being the production of energy for its own purposes or for sale to the electricity grid. It also has the added benefit of reducing waste that would normally go to landfill and converts that waste to energy.
The company is currently negotiating terms and conditions with Fortress Capital and the Intellectual Property owner.
There were no substantive mining production or development activities undertaken during the quarter. No field activities were scheduled or carried out during the quarter.
Tenement Portfolio Update
Tenements held at the end of the quarter and their locations are as follows:
TENEMENT | NAME | HOLDING |
EPC 1719 | Barcoo River/Blackall | 100% |
EPC 1993 | Blackall South Corner | 100% |
AustChina Holdings Limited
ABN 20 075 877 075
Level 16, 344 Queen Brisbane Queensland 4000 GPO Box 762 Brisbane Queensland 4001 Australia
T +61 7 3229 6606 info@austchinaholdings.com www.austchinaholdings.com
CORPORATE ACTIVITIES:
Investment in Utilitas
AustChina holds 25.12% of Queensland, Australia based bioenergy developer Utilitas Group Pty Ltd, and is well positioned in the bioenergy and bioproducts field in Australia. Utilitas and key project counterparts, have advanced Bankable Feasibility Studies on its top three priority projects Bundaberg, Hunter & Dandenong, and continue to add to its future pipeline of projects.
Support for biogas and related industries continues to strengthen, most recently promoting commercial engagements. A more intensive project funding process will begin upon securing the last few remaining commercial arrangements.
The Bundaberg bioHub development site is undergoing land development in preparation for several synergistic businesses including Utilitas' Bundaberg project to take up tenancies.
The Dandenong and Hunter projects are shifting forward, engagement with waste aggregators continues, securing more of the project to meet economic viability.
Investment in Revolver Resources Holdings Limited (ASX: RRR)
On 23 September 2021, Sector merged with Dianne Mining Corporation Pty Ltd and listed on the ASX as Revolver Resources Holdings Limited. (Revolver)
Revolver continues with its exploration of the Dianne Project. On 6 September 2022, the company announced it has identified multiple priority conductive anomalies across numerous areas within the tenement following the completion of the Heli-EM survey specifically flown for the Dianne Project.
AUH congratulates Revolver on these results and continues to see long term potential in the copper sector.
Payments to Related Parties
A total of $23,000 was paid to directors and their associates for salaries, director fees and superannuation during the quarter ended 30 September 2022.
Authorised by the Board.
Yours faithfully,
Daniel Chan - Chairman
Further information:
Andrew Fogg - Chief Executive Officer
AustChina Holdings Limited
ABN 20 075 877 075
Level 16, 344 Queen Brisbane Queensland 4000 GPO Box 762 Brisbane Queensland 4001 Australia
T +61 7 3229 6606 info@austchinaholdings.com www.austchinaholdings.com
Rule 5.5
Appendix 5B
Mining exploration entity or oil and gas exploration entity
quarterly cash flow report
Name of entity
AUSTCHINA HOLDINGS LIMITED
ABN | Quarter ended ("current quarter") |
20 075 877 075 | 30 SEPTEMBER 2022 |
Consolidated statement of cash flows | Current quarter | Year to date | ||
$A'000 | (3 months) | |||
$A'000 | ||||
1. | Cash flows from operating activities | |||
1.1 | Receipts from customers | - | - | |
1.2 | Payments for | |||
(a) | exploration & evaluation (if expensed) | - | - | |
(b) | development | - | - | |
(c) | production | - | - | |
(d) | staff costs | (31) | (31) | |
(e) | administration and corporate costs | (132) | (132) | |
1.3 | Dividends received (see note 3) | - | - | |
1.4 | Interest received | 3 | 3 | |
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): | |||
Payments for business development | (25) | (25) | ||
GST refunds | 35 | 35 | ||
1.9 | Net cash from / (used in) operating | (150) | (150) | |
activities | ||||
2. | Cash flows from investing activities | |||
2.1 | Payments to acquire: | |||
(a) | entities | - | - | |
(b) | tenements | - | - | |
(c) | property, plant and equipment | - | - | |
(d) | exploration & evaluation (if capitalised) | - | - | |
(e) | investments | - | - | |
(f) | other non-current assets | - | - | |
ASX Listing Rules Appendix 5B (01/12/19) | Page 1 | |||
+ See chapter 19 of the ASX Listing Rules for defined terms. |
Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report
Consolidated statement of cash flows | Current quarter | Year to date | |||
$A'000 | (3 months) | ||||
$A'000 | |||||
2.2 | Proceeds from the disposal of: | ||||
(a) | entities | - | - | ||
(b) | tenements (Security Deposits) | - | - | ||
(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 | |||||
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 | 3,204 | 391 |
period | |||
4.2 | Net cash from / (used in) operating | (150) | (150) |
activities (item 1.9 above) | |||
4.3 | Net cash from / (used in) investing activities | - | - |
(item 2.6 above) | |||
4.4 | Net cash from / (used in) financing activities | - | - |
(item 3.10 above) |
ASX Listing Rules Appendix 5B (01/12/19) | Page 2 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report
Consolidated statement of cash flows
- Effect of movement in exchange rates on cash held
- Cash and cash equivalents at end of period
Current quarter | Year to date |
$A'000 | (3 months) |
$A'000 | |
- | - |
3,054 | 3,054 |
5. | Reconciliation of cash and cash | Current quarter | Previous quarter |
equivalents | $A'000 | $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 | 26 | 19 |
5.2 | Call deposits | 3,028 | 3,185 |
5.3 | Bank overdrafts | - | - |
5.4 | Other (provide details) | - | - |
5.5 | Cash and cash equivalents at end of | 3,054 | 3,204 |
quarter (should equal item 4.6 above) |
6. | Payments to related parties of the entity and their | Current quarter |
associates | $A'000 | |
6.1 | Aggregate amount of payments to related parties and their | 23 |
associates included in item 1 | ||
6.2 | Aggregate amount of payments to related parties and their | 0 |
associates included in item 2 |
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
Payments to directors include accrued salaries, director fees and superannuation guarantee.
ASX Listing Rules Appendix 5B (01/12/19) | Page 3 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
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AustChina Holdings Limited published this content on 31 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 November 2022 10:48:02 UTC.
