Peako : Half Year Financial Report to 31 December 2021

For personal use only

ABN 79 131 843 868

Half Year Financial Report

31 December 2021

Contents

Contents

only	CORPORATE DIRECTORY
DIRECTORS' REPORT
	AUDITOR'S INDEPENDENCE DECLARATION
	CONSOLIDATED STATEMENT PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
use	CONSOLIDATED STATEMENT OF FINANCIAL POSITION
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
	CONSOLIDATED STATEMENT OF CASH FLOWS
personalFor	NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
DIRECTORS' DECLARATION
	AUDITOR'S REVIEW REPORT

3

4

15

16

17

18

19

20

24

25

Page 2

CORPORATE DIRECTORY

BOARD OF DIRECTORS

E.G. Albers (Chairman)

R.L. Clark

P.A. Kitto

COMPANY SECRETARY

R.J. Wright

Registered Office

Level 1, 10 Yarra Street

S uth Yarra, Victoria 3141, Australia

Telephone:	[phone]
only	[phone]
Facsimile:
Email:	[e-mail]
W bsite:	www.peako.com.au
use

Auditor

Grant Thornton Audit Pty Ltd

Tower 5, Collins Square

727 Collins Street

Melbourne, Victoria 3008 Australia

personalShare Registry Automic Pty Ltd

Level 3

50 Holt Street

Surry Hills, NSW 2010, Australia

St ck Exchange Listing

ASX Ltd

Level 4, North Tower, Rialto

525 Collins Street

Melbourne, Victoria 3000, Australia

ASX Code:

PKO Ordinary Shares

Incorporated in Western Australia 25 June 2008

For

Page 3

For personal use only

Directors' Report

The directors of Peako Limited (Peako or the company) submit their report on the consolidated results of the company and its wholly-owned subsidiaries (controlled entities) or (the group) for the half year ended 31 December 2021

Directors

The names of directors who held office during or since the end of the half-year and until the date of this report are noted below. Directors were in office for the entire period unless otherwise stated.

Geoffrey Albers	Non-Executive Chairman
Raewyn Clark	Executive Director
Darryl Clark - resigned 20/9/21	Non-Executive Director
Paul Kitto - appointed 20/9/21	Non-Executive Director

Review of Operations

The consolidated net loss after income tax for the six months to 31 December 2021 was $447,251 (six months to 31 December 2020: loss of $238,619).

During the half-year the Group continued its activities as outlined below.

PROJECTS

East Kimberley Project

Tenement Position

Peako's exploration focus is its large ground-holding in the East Kimberley region of Western Australia totalling 4,029 km2 (Figure 1).

Figure 1 Peako's East Kimberley Tenement Package

Page 4

Past Exploration

For personal use only

Systematic exploration across the East Kimberley has lagged behind many of Australia's Proterozoic provinces with historical exploration programs broadly characterised by sporadic campaigns over the past 50 years incorporating numerous explorers across multiple commodities and fragmented, non-contiguous tenement holdings. Historical exploration within the area of Peako's tenements, primarily guided by occurrences of surface gossan and geochemical anomalies, has provided consistent encouragement for the area's economic potential. At the same time, discovery efforts have been consistently hindered by a mix of cover, subcrop, poorly understood regolith, deep weathering and complex stratigraphy/structure, despite highly favourable host rocks, structure and known mineralisation across the area. Peako's exploration strategy is underpinned by the application of data-driven science to define and prioritise targets for efficient field testing programs necessary for economic discovery.

Diverse Opportunities

Peako's granted tenements, Eastman (E80/4990) and Wirana (E80/5182), host a diverse Paleoproterozoic succession that is widely intruded by multiple granitoid phases and deformed by multiple orogenic episodes. The area represents the western-most window of the Halls Creek Orogen where volcanic successions of the bimodal Koongie Park Formation Volcanic Belt (c. 1845 Ma) and the Lamboo Ultramafic Intrusive Belt (c. 1850-1835 Ma) are well developed.

The geological diversity within Peako's tenement package has driven the search for a wide range of commodities, with the Koongie Park Formation having demonstrated prospectivity for base (Cu-Pb-Zn) and precious (Ag, Au) metals mineralisation, whilst the Lamboo Ultramafic belt has demonstrated prospectivity for base (Ni, Cu) and precious (Au, PGE and REE) mineralisation.

2021 Field Campaign

Peako's 2021 field campaign was directed at evaluating a widely identified but often overlooked latent gold potential recorded in historical exploration data. For many past explorers, gold was peripheral to their base metal and PGE exploration focus at a time when many explorers did not analyse soil, rock or drill samples for gold.

Aircore Geochemistry - Eastman Tenement

An aircore geochemistry program was completed that incorporated 473 holes for a total of 3,017 metres across target areas defined from surface geochemistry, geology, geophysics and satellite imagery. Assay results defined two anomalous base metal corridors at Eastman East and Eastman No.2 (refer Figure 2).

Page 5