NORTHERN MINING LIMITED 31 July 2015
QUARTERLY ACTIVITIES REPORTFOR THE PERIOD ENDED 30 JUNE 2015
EAST KALGOORLIE PROJECT
The Company has sold its Georges Reward Project in tenement E25/268 to Metals X Limited for a cash consideration of $4.5m (Refer to ASX Announcement dated 10 July 2015).
EXPOLATION ACTIVITIES
There were no exploration activities on the Company's East Kalgoorlie Project during the quarter. All work to date was restricted to desktop geological studies.
CORPORATE DEVELOPMENT
With a strong cash position of $9m, the Company continues to consider acquisition opportunities as they arise.
NORTHERN MINING LIMITED ABN 30 113 654 229
Suite 24,Level 3, 25 Walters Drive Osborne Park Western Australia 6017
T +61 8 9244 8499
E info@northernmining.com.au W www.northernmining.com.au
1
Tenements Held at 30 June 2015
Project | Tenement |
East Kalgoorlie, WA Blair North | E25/0268 |
East Kalgoorlie, WA Blair North | P25/2051 |
East Kalgoorlie, WA Blair North | |
Blair | E26/0112 |
Blair | P26/3488 |
Blair | P25/2207 |
Blair | |
Blair | |
Kanowna Lights | M27/0177 |
Kanowna Lights | M27/0236 |
Kanowna Lights | |
Golden Ridge Snake Hill | P26/3736 |
Golden Ridge Snake Hill | E26/0144 |
Golden Ridge Snake Hill | E25/0424 |
Golden Ridge Snake Hill | P25/2100 |
Golden Ridge Snake Hill | P25/2101 |
Golden Ridge Snake Hill | P26/3918 |
Golden Ridge Snake Hill | P26/3919 |
Golden Ridge Snake Hill | P26/3705 |
Golden Ridge Snake Hill | P26/3706 |
Golden Ridge Snake Hill | P26/3707 |
Golden Ridge Snake Hill | P26/3708 |
Golden Ridge Snake Hill | P26/3709 |
Golden Ridge Snake Hill | P26/3710 |
Golden Ridge Snake Hill | P25/2071 |
Golden Ridge Snake Hill | P25/2113 |
Golden Ridge Snake Hill | |
Mt Monger | E26/0152 |
Mt Monger | |
Bulong | P25/2179 |
Bulong | P25/2180 |
Bulong | |
Hampton Hill | E25/0447 |
Hampton Hill | E26/0151 |
2
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
Appendix 5BRule 5.5
Mining exploration entity and oil and gas exploration entity quarterly reportIntroduced 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
NORTHERN MINING LIMITED
ABN Quarter ended ('current quarter')
30 113 654 229 30 June 2015
Consolidated statement of cash flows
Cash flows related to operating activities
1.1 Receipts from product sales and related debtors
1.2 Payments for (a) exploration & evaluation
(b) development
(c) production
(d) administration
1.3 Dividends received
1.4 Interest and other items of a similar nature received
1.5 Interest and other costs of finance paid
1.6 Income taxes paid
1.7 Other (GST)
Net Operating Cash Flows
+ See chapter 19 for defined terms.
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Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
1.13 Total operating and investing cash flows (brought forward) | (83) | (889) |
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other (provide details if material) Net financing cash flows | - - - - - - | - - - - - - |
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other (provide details if material) Net financing cash flows | - | - |
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end of quarter | (83) 5,327 - | (889) 6,133 - |
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end of quarter | 5,244 | 5,244 |
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 14
1.24 Aggregate amount of loans to the parties included in item 1.10
1.25 Explanation necessary for an understanding of the transactions
1.23 - Directors fees and superannuation
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
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
+ See chapter 19 for defined terms.
Appendix 5B Page 2 01/05/2013
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
Financing facilities available
Add notes as necessary for an understanding of the position.
3.1 Loan facilities
3.2 Credit standby arrangements
Estimated cash outflows for next quarter
4.1 Exploration and evaluation
4.2 Development
4.3 Production
4.4 Administration
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.
+ See chapter 19 for defined terms.
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Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
Changes in interests in mining tenements and petroleum tenements
6.1 Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed
6.2 Interests in mining tenements and petroleum tenements acquired or increased
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.
7.5 +Convertible debt securities (description)
7.6 Changes during quarter
(a) Increases through issues (b) Decreases through securities matured, converted
+ See chapter 19 for defined terms.
Appendix 5B Page 4 01/05/2013
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
7.12 Unsecured notes (totals only)
Compliance statement
1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 5).
2 This statement does give a true and fair view of the matters disclosed.
Sign here: ............................................................ Date: 28 July 2015 (Company secretary)
Print name: Patrick Tan
1 The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
2 The 'Nature of interest' (items 6.1 and 6.2) includes options in respect of interests in mining tenements and petroleum tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement or petroleum tenement, it should disclose the change of percentage interest and
conditions precedent in the list required for items 6.1 and 6.2.
3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities.
+ See chapter 19 for defined terms.
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Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
4 The definitions in, and provisions of, AASB 6: Exploration for and Evaluation of
Mineral Resources andAASB 107: Statement of Cash Flows apply to this report.
5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.
== == == == ==
+ See chapter 19 for defined terms.
Appendix 5B Page 6 01/05/2013
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