Manhattan : Interim Financial Report for Half Year Ended 31 December 21

For personal use only

Interim Financial Report

For the Half-Year Ended

31 December 2021

ABN 61 123 156 089

CONTENTS PAGE

CONTENTS

onlyCORPORATE DIRECTORY

DIRECTORS REPORT

AUDITOR'S INDEPENDENCE DECLARATION

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

useCONSOLIDATED STATEMENT OF FINANCIAL POSITION

CONSOLIDATED STATEMENT OF CASH FLOWS

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

personalNOTES TO THE FINANCIAL STATEMENTS DIRECTORS' DECLARATION

INDEPENDENT AUDITOR'S REVIEW REPORT

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CORPORATE DIRECTORY

For personal use only

Directors

Mr Marcello Cardaci (Non-Executive Chairman)

Mr Kell Nielson (Executive Director and Chief Executive Officer) Mr John Seton (Non-Executive Director)

Company Secretary

Ms Eryn Kestel

Registered Office

Level 2

33 Colin Street

West Perth WA 6005

Telephone:	[phone]
Facsimile:	[phone]
Website:	www.manhattancorp.com.au
Email:	[e-mail]

Share Registry

Computershare Investor Services Pty Ltd

Level 2

Reserve Bank Building

45 St Georges Terrace

Perth WA 6000 Australia

Telephone: [phone]

Facsimile: + 61 8 9323 2033

Auditors

Rothsay Auditing

Level 1, Lincoln House

4 Ventnor Avenue

West Perth WA 6005

Securities Exchange

The Company's securities are quoted

on the official list of the Australian Securities Exchange Limited, the home branch being Perth. ASX Codes: MHC and MHCO

Manhattan Corporation Limited

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2021 Half-Year Report to Shareholders

DIRECTORS REPORT

The Directors present their report for Manhattan Corporation Limited ("Manhattan" or "the Company") and its subsidiaries ("the Group") for the half-year ended 30 December 2021.

RESULTS OF OPERATIONS

onlyThe Group's net loss after taxation attributable to the members of Manhattan Corporation for the half-year to 31 December 2021 was $306,565 (31 December 2020: $358,264).

OVERVIEW

During the half-year ended December 2021, Manhattan Corporation Limited (MHC or the Company) continued to advance the Tibooburra Gold Project, with a Reverse Circulation (RC) drill programme where significant high- grade mineralisation was intercepted.

TIBOOBURRA GOLD PROJECT useNew South Wales

MHC Controls 100% of the Tibooburra Gold Project in the Far NW of New South Wales (NSW) through it's fully owned subsidiary Awati Resources Pty Ltd (Awati).

The Tibooburra Gold Project comprises a nearly contiguous land package of 15 granted exploration licences (~2,200 square kilometres) that are located approximately 200km north of Broken Hill. It stretches 160km south

from the historic Tibooburra townsite and incorporates a large proportion of the Albert Goldfields (which produced personalin excess of 50,000 to 100,000 ounces of Au from auriferous quartz vein networks and alluvial deposits that shed from them during its short working life), along the gold-anomalous (soil, rock and drilling geochemistry, gold

workings) New Bendigo Fault, to where it merges with the Koonenberry Fault, and then strikes further south on towards the recently discovered Kayrunnera gold nugget field. The area is conveniently accessed via the Silver City Highway, which runs N-S through the project area.

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Figure 1: Location of the Tibooburra Gold Project

Manhattan Corporation Limited

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2021 Half-Year Report to Shareholders

DIRECTORS REPORT (Continued)

For personal use only

Figure 2: Prospective Palaeozoic gold terrains (green shading) of NSW and Victoria.

New Bendigo RC Drilling - October-November 2021

After a pause in exploration activities caused by the outbreak of Covid-19 in NSW, MHC completed twenty (20) Reverse Circulation Drill (RC) Holes (NB0073-0092) for 2,131 metres at its Tibooburra Gold Project located in north-western NSW during the reporting period. Drilling focussed on testing the shallow nature of identified mineralisation, including targeting the north plunging shoots within the lower grade NNW trending mineralised corridor that extends for approximately 650 metres of strike.

Drilling successfully intersected high-grade mineralised zones that are thought to form two separate north plunging shoots located to the north and south of a cross-cutting fault, though further drilling is required in this area to confirm the synopsis, specifically in the vicinity of the fault and the continuation of the shoots at depth where they remain open.

Drilling returned significant mineralisation in addition to the previously reported near surface high-grade central zone (Figure 1), including:

• 8m at 40.5 g/t Au from 70m, including 3m at 105.34 g/t Au (NB0089)
• 16m at 13.89 g/t Au from 1m, including 3m at 69.20 g/t Au (NB0083)
• 7m at 2.89 g/t Au from 56m, including 1m at 15.45 g/t Au (NB0088)
• 6m at 1.93 g/t Au from 12m, including 2m at 4.29 g/t Au (NB0090)
• 3m at 4.67 g/t Au from 126m, including 2m at 6.74 g/t Au (NB0081)
• 8m at 1.08 g/t Au from 18m, historically mined stope from 10.5 to 14m (NB0079)

Manhattan Corporation Limited

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2021 Half-Year Report to Shareholders