Gulf Minerals : Appendix 5B Dec 2015

Appendix 5B - Mining exploration entity and oil and gas exploration entity quarterly report 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, 01/05/2013

Name of entity

GULF MANGANESE CORPORATION LIMITED

ABN	Quarter ended ("current quarter")
73 059 954 317	31 December 2015

Consolidated statement of cash flows

Cash flows related to operating activities		Current quarter $A'000	Year to date (6 months) $A'000
1.1	Receipts from product sales and related debtors	-	-
1.2	Payments for (a) exploration & evaluation development production administration	(234) - - (590)	(259) - - (723)
1.3	Dividends received	-	-
1.4	Interest and other items of a similar nature received
1.5	Interest and other costs of finance paid	-	(16)
1.6	Income taxes paid	-	-
1.7	Other (Refund from R&D)	-	139
Net Operating Cash Flows		(824)	(859)
Cash flows related to investing activities		- - -	- - -
1.8	Payment for purchases of: (a) prospects equity investments other fixed assets
1.9	Proceeds from sale of: prospects equity investments 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)	(824)	(859)

1.13	Total operating and investing cash flows (brought forward)	(824)	(859)
Cash flows related to financing activities		1,125	1,125
1.14	Proceeds from issues of shares, options, etc.
1.15	Deposits received for issue of shares, options	110	110
1.16	Proceeds from borrowings	100	126
1.17	Repayment of borrowings	(130)	(130)
1.18	Dividends paid	-	-
1.19	Other (capital raising costs)	(101)	(101)
Net financing cash flows		1,104	1,130
Net increase (decrease) in cash held		280	271
1.20	Cash at beginning of quarter/year to date	1	10
1.21	Exchange rate adjustments to item 1.20	-	-
1.22	Cash at end of quarter	281	281

Payments to directors of the entity, associates of the directors, 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	-
1.24	Aggregate amount of loans to the parties included in item 1.10	-

1.25 Explanation necessary for an understanding of the transactions

All payments to Directors and associates are on normal commercial terms

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
Nil

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

$A'000
4.1	Exploration and evaluation	10
4.2	Development	-
4.3	Production	-
4.4	Administration	120
Total		130

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	281	1
5.2	Deposits at call	-	-
5.3	Bank overdraft	-	-
5.4	Other (provide details)	-	-
Total: cash at end of quarter (item 1.22)		281	1

Changes in interests in mining tenements and petroleum tenements

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

1. Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed

   
   

   
   

2. Interests in mining tenements and petroleum tenements acquired or increased

*Please see Appendix 1 in the Activity Report for the updated tenement listing schedule.

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)
7.2	Changes during quarter Increases through issues Decreases through returns of capital, buy- backs, redemptions
7.3	+Ordinary securities	192,009,305	192,009,305	Fully Paid	Fully Paid
7.4	Changes during quarter Increases through issues Decreases through returns of capital, buy- backs	110,538,668	110,538,668	$0.015	$0.015
7.5	+Convertible debt securities (description)	70*	$10,000	$10,000
7.6	Changes during quarter Increases through issues Decreases through securities matured, converted	10	$10,000	$10,000
7.7	Options (description and conversion factor)	1,279,000 13,900,000 7,500,000 37,500,000 15,000,000	- - - - -	Exercise price $0.375 $0.375 $0.25 $0.02 $0.05	Expiry date 30/06/2016 31/07/2017 31/12/2018 30/09/2018 30/09/2018