27 January 2017
ASX Limited
Centralised Company Announcements Office Exchange Centre 20 Bridge Street
Sydney NSW 2000
ZAMIA METALS LIMITED: QUARTERLY ACTIVITIES REPORT FOR THE QUARTER ENDED 31 DECEMBER 2016
OCCUPATIONAL HEALTH AND SAFETY
There were no lost-time or injury incidents during the Quarter.
CORPORATE ACTIVITIES
Annual General Meeting
The Company's AGM was held in Sydney on 29 November 2016. The main outcomes from the meeting were:
the annual financial report, directors' report and auditor's report for the financial year ended 30 June 2016 were presented;
the re-election of Mr Andrew Skinner and Dr Ken Maiden as directors;
the ratification of the issue of 42,100,000 fully paid shares and 21,050,000 options that occurred during March 2016.
Mr Skinner presented a Chairman's address to the meeting and answered questions from shareholders. In his address, Mr Skinner covered the following points:
the gold price, especially in A$ terms, during the year;
his gratitude for the ongoing financial support from major and new shareholders;
the un-successful attempt by the Company to acquire EcoTech Mining Pty Ltd;
progress on the acquisition Kirkham International Pte Ltd; and
the status of exploration in central Queensland.
The Chairman's address has been placed on the Company's website.
Progress on Acquisition of Kirkham International Pte Ltd
As announced on 10 October 2016, Zamia has entered into a binding share sale and purchase agreement (SSPA) for the acquisition of all of the issued shares in Kirkham International Pte Ltd (Kirkham). Kirkham owns 95% of PT Borneo Coal Indonesia, an Indonesian company which holds a mining permit for the Muara Teweh coking coal project in Central Kalimantan, Indonesia. The acquisition is subject to satisfaction of a
ZAMIA Metals Limited ABN 73 120 348 683
number of conditions including a capital raising, and regulatory & shareholder approvals.
An Extraordinary General Meeting (EGM) of shareholders will be called to approve the transaction. A Notice of Meeting & Explanatory Memorandum which will include an Independent Experts Report, will be sent to shareholders shortly.
The Company is also preparing a prospectus (Prospectus) for the capital raising that will comply with the conditions of the SSPA including re-compliance with Chapters 1 and 2 of the Listing Rules of the Australian Securities Exchange (ASX), following a change to the nature and scale of the Company's activities, subject to satisfaction of the preconditions in the share sale and purchase agreement.
Capital Raising
On 3 January 2017, and as announced to the ASX on 12 January 2017, the Company completed a share placement of 72,000,000 fully paid ordinary shares at an issue price of $0.003 per share to raise $216,000. Each two (2) shares includes an entitlement to one (1) unlisted option per share exercisable at $0.003 per share expiring on 31 December 2018. The placement has been executed under the 15% capacity of the Company. The funds have been raised for working capital purposes and to fund costs in relation to the acquisition of Kirkham.
CENTRAL QUEENSLAND EXPLORATION
Exploration Tenements
Tenement No | Project Name | Grant Date | Expiry Date | Status at 31.12.2016 | Area km² at 31.12.2016 |
EPM 14790 | Mazeppa | 12.01.2006 | 11.01.2021 | Year 11 | 39 |
EPM 15145 | Mazeppa Extended | 11.08.2006 | 10.08.2017 | Year 11 | 112 |
EPM 17488 | Mistake Creek | 05.11.2009 | 04.11.2017 | Year 7 | 47 |
EPM 16524 | Logan Creek | 23.12.2010 | 22.12.2020 | Year 6 | 21 |
EPM 17703 | Disney | 30.01.2012 | 29.01.2017 | Year 5 | 60 |
EPM 19369 | Amaroo South | 30.01.2012 | 29.01.2017 | Year 5 | 34 |
EPM 18655 | Dingo Range | 29.05.2013 | 28.05.2019 | Year 3 | 34 |
TOTAL AREA 347
ZAMIA Metals Limited
ABN 73 120 348 683
Exploration permits held by Zamia Resources Pty Ltd, a controlled Entity of Zamia Metals Limited, as at 31-December 2016
Exploration Activities
Belyando Gold Project: Plans for a gradient array I.P. survey are well advanced. It is intended that the survey will be conducted when funds become available after completion of the Kirkham acquisition.
Porphyry copper-gold targets: Zamia is seeking a joint venture partner to fund follow-up exploration on identified targets.
Dr Ken Maiden
Director, Zamia Metals Limited
Competent Person Statement
Dr Ken Maiden, MAIG FAusIMM, a Director of Zamia Metals Limited, compiled the geological technical aspects of this report. He has sufficient experience to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Dr Maiden consents to the inclusion of the matters in the form and context in which they appear and takes responsibility for data quality.
ZAMIA Metals Limited ABN 73 120 348 683
Zamia Metals Limited published this content on 30 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 29 January 2017 21:55:04 UTC.
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