ASX Release
31 January 2014
NDIAN RESOURCES LIMITED Level 1 / 330 Churchill Avenue
Subiaco, WA 6008
Tel: +61 8 9200 4438
Fax: +61 8 9200 4469
Contact: Matthew Wood Executive Chairman
E-mail:
info@lindianresources.com.au
For the latest news:
www.lindianresources.com.au
Directors / Officers: Matthew Wood Kerry Griffin Scott Funston
Brian McMaster
SX Symbol: LIN, LINOC, LINO
CLARIFICATION - DECEMBER 2013 QUARTERLY ACTIVITIES REPORTLindian Resources Ltd provides the following table to the December 2013 quarterly activities report in accordance with ASX Listing Rule 5.3.3.
Interests in Mining Tenements Held:Tenure Reference | Location | Interest at Beginning of Quarter | Interest at End of Quarter | Acquired During Quarter | Disposed of During Quarter |
MPSA 004-91- XI | Philippines | Note 1 | Note 1 | - | - |
EP V 2001-001 EXPA V-0025 EXPA V-0026 EXPA V-0028 | Philippines | 100% Note 2 Note 2 Note 2 | 100% Note 2 Note 2 Note 2 | - | - |
EXPA III-06-97 | Philippines | Note 2 | Note 2 | - | - |
EP III-03-98 | Philippines | Note 2 | Note 2 | - | - |
EXPA V-019 | Philippines | Note 2 | Note 2 | - | - |
MRD 02, MRD 303 | Philippines | Note 2 | Note 2 | - | - |
EXPA 90-CAR | Philippines | Note 3 | Note 3 | - | - |
Note 1: The Company's rights to the Masapelid Project are provided through an MPSA, a contractual arrangement between the Company's wholly owned subsidiary Bundok Mineral Resources Corporation ("BMRC") and San Manuel Mining Corporation ("SMMC"). BMRC has a further right to convert the MPSA to a Financial Technical Ass Environment and Natural Resources (DENR). Denial by the DENR of the Extension (Decision) was received by BMRC and SMMC on 28 May 2013. SMMC on behalf of itself and BMRC, issued a Motion for Reconsideration (MR) to the DENR on 7 June
2013 to reverse its Decision. The MR was denied on 6 January 2014, however in issuing
the resolution, the DENR has granted SMMC until 6 January 2015 to submit a Declaration of Mining Project Feasibility in respect of the Project (DMPF). The lodgement of a DMPF provides the Company with a basis for renewal of the MPSA for a further 25 years, or if warranted conversion to a FTAA.
Note 2: BMRC has entered into an option to purchase agreement and will acquire 100% of the project upon exercise of the option.
Note 3: On 16 April 2013, BMRC entered into a Deed of Assignment (DOA) with MRI via which, MRI transferred all rights to the Abra EXPA to BMRC. The DOA has been lodged with MGB CAR and both the DOA and EXPA are awaiting processing and approval by the MGB.
LINDIAN RESOURCES LIMITED
Summary of Exploration an d Evaluation Expenditure Incurred per Project
Project | Quarter Cash Spend $A'OOO |
MPSA 004-91-Xl | 248 |
Total | 248 |
LINDIAN RESOURCES LIMITED
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