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MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Lincoln Minerals Limited    LML   AU000000LML2

LINCOLN MINERALS LIMITED

(LML)
End-of-day quote. End-of-day quote AUSTRALIAN SECURITIES EXCHANGE LIMITED - 11/10
0.006 AUD   +20.00%
10/23LINCOLN MINERALS : Quarterly Activities Report Period Ending September 2019
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10/22LINCOLN MINERALS : Quarterly Activities and Cashflow Report September 2019
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09/25LINCOLN MINERALS : Response to ASX Price Query
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Lincoln Minerals : Quarterly Activities and Cashflow Report September 2019

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10/22/2019 | 12:40am EST

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

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

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

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NameTitle
Teng Hui Zhang Non-Executive Chairman
Jaroslaw K. Kopias Chief Financial Officer & Secretary
Lung Yiu Pang Independent Non-Executive Director
Kee Guan Saw Non-Executive Director
Johnson Zhang Non-Executive Director
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