LINCOLN MINERALS LIMITED Quarterly Activities Report
Period Ending September 2019
Lincoln Minerals Ltd (ASX:LML) ("Lincoln" or the "Company") continued to develop its business strategy to fund its 100% owned Kookaburra Gully Graphite Project.
No significant exploration or development work was undertaken during the Quarter on Lincoln's other Eyre Peninsula tenements.
During the quarter, Lincoln appointed Mr Salvatore (Sam) Matarazzo appointed as a Non-Executive Director to the Board of the Company.
At 30 September 2019, Lincoln had $1.5 million in cash at bank.
Tenements
The status of all Exploration Licenses (ELs) as at 30 September 2019 which Lincoln Minerals is the Licencee is shown in the following tenement schedule and map. All EL's are current and three tenements are currently in the renewal process. No tenements were relinquished during the Quarter.
Lincoln Minerals holds exploration rights to South Australian lease holdings totalling 1,988 km2, all located on Eyre Peninsula, with 1,836 km2 100% owned. The Dutton River, Uno and Wanilla tenements (EL's 5556, 5523 & 5559 respectively) are in the renewal process.
Tenement Schedule
Tenement | Expiry | Area | Location | Commodity |
(km2) | ||||
LINCOLN MINERALS 100% OWNERSHIP OF ALL MINERAL RIGHTS | ||||
EL 5942 | 28-Jan-22 | 98 | Eurilla | Base metals, U |
EL 5922 | 12-Feb-22 | 441 | Wanilla | Graphite |
EL 5921 | 11-Feb-22 | 112 | Cummins | Graphite |
EL 6155 | 2-Mar-20 | 14 | Moseley Nobs | Base metals, U |
EL 5523* | 28-Sep-19 | 26 | Uno | Base metals, U |
EL 5556* | 3-Nov-19 | 82 | Dutton River | Graphite |
EL 5811 | 6-Jan-21 | 128 | Gum Flat | Graphite, Iron |
EL 5923 | 20-Dec-20 | 126 | Nantuma | Iron |
EL 5852 | 13-Aug-21 | 50 | Greenpatch | Graphite |
EL 5971 | 11-Apr-22 | 215 | Tumby Bay | Graphite, base metals |
EL 6024 | 05-Aug-22 | 403 | Mount Hill | Graphite, base metals |
EL 5559* | 15-Nov-19 | 138 | Wanilla (Bald Hill) | Graphite |
ML 6460 | 2-June-37 | 300.8 ha | Kookaburra Gully | Graphite |
Subtotal | 1,836 | |||
LML HAS 100% OWNERSHIP OF ALL MINERAL RIGHTS EXCLUDING IRON ORE | ||||
EL 5851 | 13-Aug-20 | 117 | Minbrie | Base metals |
ML 6344 | 11-Aug-19 | 916 ha | Wilgerup | Iron |
RL 129 | 07-Nov-21 | 2,547 ha | Kimba Gap | Iron |
Subtotal | 152 | |||
Grand total | 1,988 | |||
* Tenements in the renewal process
Quarterly Activities Report - September 2019
Map of Lincoln Minerals' Eyre Peninsula (SA) tenements.
Exploration Licence data based on the Department of Energy and Mining, the Government of South Australia, Exploration and
Geoscientific Data, sourced on 14 October 2019
http://www.minerals.statedevelopment.sa.gov.au/exploration/exploration_licensing#tenement
Page 2
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
+Rule 5.5
Appendix 5B
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, 01/05/13, 01/09/16
Name of entity
Lincoln Minerals Ltd
ABN | Quarter ended ("current quarter") |
50 050 117 023 | 30 September 2019 |
Consolidated statement of cash flows
Current quarter | Year to date |
$A'000 | (3 months) |
$A'000 |
1. | Cash flows from operating activities | |||
1.1 | Receipts from customers | - | - | |
1.2 | Payments for | |||
(a) | exploration & evaluation | (23) | (23) | |
(b) | development | - | - | |
(c) | production | - | - | |
(d) | staff costs | (125) | (125) | |
(e) administration and corporate costs | (46) | (46) | ||
1.3 | Dividends received (see note 3) | - | - | |
1.4 | Interest received | - | - | |
1.5 | Interest and other costs of finance paid | 6 | 6 | |
1.6 | Income taxes paid | - | - | |
1.7 | Research and development refunds | - | - | |
1.8 | Other (provide details if material) | - | - | |
1.9 | Net cash from / (used in) operating | (188) | (188) | |
activities |
2. | Cash flows from investing activities | |||
2.1 | Payments to acquire: | |||
(a) property, plant and equipment | - | - | ||
(b) tenements (see item 10) | - | - | ||
(c) | investments | - | - | |
(d) | other non-current assets | - | - | |
+ See chapter 19 for defined terms | ||||
1 September 2016 | Page 1 |
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
Consolidated statement of cash flows | Current quarter | ||
$A'000 | |||
2.2 | Proceeds from the disposal of: | ||
(a) property, plant and equipment | - | ||
(b) tenements (see item 10) | - | ||
(c) | investments | - | |
(d) | other non-current assets | - | |
2.3 | Cash flows from loans to other entities | - | |
2.4 | Dividends received (see note 3) | - | |
2.5 | Other (provide details if material) | - | |
2.6 | Net cash from / (used in) investing | - | |
activities | |||
3. | Cash flows from financing activities | ||
3.1 | Proceeds from issues of shares | - | |
3.2 | Proceeds from issue of convertible notes | - | |
3.3 | Proceeds from exercise of share options | - | |
3.4 | Transaction costs related to issues of | - | |
shares, convertible notes or options | |||
3.5 | Proceeds from borrowings | - | |
3.6 | Repayment of borrowings | - | |
3.7 | Transaction costs related to loans and | - | |
borrowings | |||
3.8 | Dividends paid | - | |
3.9 | Other (provide details if material) | - | |
3.10 | Net cash from / (used in) financing | - | |
activities |
Year to date
(3 months)
$A'000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4. Net increase / (decrease) in cash and cash equivalents for the period
4.1 Cash and cash equivalents at beginning of
period | 1,688 | 1,688 | |
4.2 | Net cash from / (used in) operating | (188) | (188) |
activities (item 1.9 above) | |||
4.3 | Net cash from / (used in) investing activities | - | - |
(item 2.6 above) | |||
4.4 | Net cash from / (used in) financing activities | - | - |
(item 3.10 above) | |||
4.5 | Effect of movement in exchange rates on | - | - |
cash held | |||
4.6 | Cash and cash equivalents at end of | 1,500 | 1,500 |
period | |||
+ See chapter 19 for defined terms | |||
1 September 2016 | Page 2 |
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
5. Reconciliation of cash and cash equivalents
at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts
Current quarter | Previous quarter |
$A'000 | $A'000 |
5.1 | Bank balances | 435 | 429 |
5.2 | Call deposits | - | - |
5.3 | Bank overdrafts | - | - |
5.4 | Other - 30 to 90 day deposits | 1,065 | 1,259 |
5.5 | Cash and cash equivalents at end of | 1,500 | 1,688 |
quarter (should equal item 4.6 above) |
6. | Payments to directors of the entity and their associates | Current quarter |
$A'000 | ||
6.1 | Aggregate amount of payments to these parties included in item 1.2 | 83 |
6.2 | Aggregate amount of cash flow from loans to these parties included | - |
in item 2.3 |
6.3 Include below any explanation necessary to understand the transactions included in items 6.1 and 6.2
Director's fees, superannuation and consulting fees paid to entities associated with Directors.
7. | Payments to related entities of the entity and their | Current quarter |
associates | $A'000 | |
7.1 | Aggregate amount of payments to these parties included in item 1.2 | - |
7.2 | Aggregate amount of cash flow from loans to these parties included | - |
in item 2.3 |
7.3 Include below any explanation necessary to understand the transactions included in items 7.1 and 7.2
Not applicable
+ See chapter 19 for defined terms | |
1 September 2016 | Page 3 |
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Lincoln Minerals Limited published this content on 22 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 October 2019 04:39:02 UTC
