Eastern Iron : Appendix 5B

QUARTERLY STATEMENT OF CONSOLIDATED CASH FLOW 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

EASTERN IRON LIMITED

Rule 5.3

ABN	Quarter ended ("current quarter")
70 126 678 037	31 December 2015

Consolidated statement of cash flows

Cash flows related to operating activities		Current quarter 31 December 2015 $A'000	Year to date (6 months) 31 December 2015 $A'000
1.1	Receipts from product sales and related debtors	0	0
1.2	Payments for (a) exploration and evaluation	(15)	(65)
(b) development		0	0
(c) production		0	0
(d) administration		(133)	(217)
1.3	Dividends received	0	0
1.4	Interest and other items of a similar nature received	0	0
1.5	Interest and other costs of finance paid	0	0
1.6	Income taxes paid/received on R&D tax offset	0	281
1.7	Other - consulting fees and rental income - tenement security deposits (paid)/refunded	0 0	0 0
Net Operating Cash Flows		(148)	(1)
Cash flows related to investing activities		0	0
1.8	Payment for purchases of: (a) prospects
(b) equity investments		0	0
(c) other fixed assets		0	0
1.9	Proceeds from sale of: (a) prospects	0	0
(b) equity investments		0	0
(c) other fixed assets		0	0
1.10	Loans to other entities	0	0
1.11	Loans repaid by other entities	0	0
1.12	Other	0	0
Net investing cash flows		0	0
1.13	Total operating and investing cash flows (carried forward)	(148)	(1)

Current quarter $A'000	Year to date $A'000
1.13 Total operating and investing cash flows (brought forward)	(148)	(1)
Cash flows related to financing activities Proceeds from issues of shares, options, etc Proceeds from sale of forfeited shares Proceeds from borrowings Repayment of borrowings Dividends paid Other - Equity raising costs Share Capital Applications* Net financing cash flows	0 0 0 0 0 (15) 1,000	0 0 0 0 0 (15) 1,000
	985	985
Net increase (decrease) in cash held Cash at beginning of quarter/year to date Exchange rate adjustments to item 1.20 Cash at end of quarter	837 231 0	984 84 0
	1,068	1,068

*Note: At the Company's AGM on 10 December 2015, shareholders approved the issue of 133,333,333 shares at $0.015 per share to Fortune Future Holdings Ltd to raise $2 million. $1 million was received in the December 2015 quarter and the remaining $1 million was received in January 2016. The 133,333,333 shares were issued to Fortune Future Holdings Ltd on 14 January 2016.

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

Directors' fees and consultancy fees at normal commercial rates

$A'000

1.23	Aggregate amount of payments to the parties included in item 1.2	20
1.24	Aggregate amount of loans to the parties included in item 1.10	Nil
1.25	Explanation necessary for an understanding of the transactions

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
At the Company's AGM on 10 December 2015, shareholders approved the issue of 133,333,333 shares at $0.015 per share to Fortune Future Holdings Ltd to raise $2 million. $1 million was received in the December 2015 quarter and the remaining $1 million was received in January 2016. The 133,333,333 shares were issued to Fortune Future Holdings Ltd on 14 January 2016.
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

Financing facilities available

Add notes as necessary for an understanding of the position.

Amount available $A'000	Amount used $A'000
3.1	Loan facilities	Nil	Nil
3.2	Credit standby arrangements	Nil	Nil

Estimated cash outflows for next quarter

Exploration and evaluation Development Production Administration	$A'000
	200
	0
	0
	169
Total	369

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
Cash on hand and at bank Deposits at call Bank overdraft Other - bills receivable, bank accepted and short term bank deposits - Share capital applicatons	44	207
	24	24
	0	0
	0 1,000	0 0
Total: cash at end of quarter (item 1.22)	1,068	231

Changes in interests in mining tenements

Tenement reference	Nature of interest (note (2))	Interest at beginning of quarter	Interest at end of quarter

1. Interests in mining tenements relinquished, reduced or lapsed

2. Interests in mining tenements acquired or increased

6.3	The full Eastern Iron schedule of tenements is included as an attachment to this report.