Metal Bank : High Grade Gold Mineralisation Intersected at New Constitution

Appendix 5B‌ Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10.

Rule 5.3

Name of entity

METAL BANK LIMITED

ABN	Quarter ended ("current quarter")
51 127 297 170	30 June 2016

Consolidated statement of cash flows

Cash flows related to operating activities		Current quarter $A'000	Year to date (12 months) $A'000
1.1	Receipts from product sales and related debtors	(125) (119)	(706) (533)
1.2	Payments for (a) exploration & evaluation development production administration
1.3	Dividends received	1	1
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
Net Operating Cash Flows		(243)	(1,238)
Cash flows related to investing activities
1.8	Payment for purchases of: prospects equity investments other fixed assets
1.9	Proceeds from sale of: prospects equity investments other fixed assets
1.10	Loans from other entities
1.11	Loans repaid to/by other entities
1.12	Other - acquisition of subsidiary
Net investing cash flows
1.13	Total operating and investing cash flows (carried forward)	(243)	(1,238)

1.13	Total operating and investing cash flows (brought forward)	(243)	(1,238)
Cash flows related to financing activities		465	1,065
1.14	Proceeds from issues of shares, options, etc.
1.15	Proceeds from sale of forfeited shares	(3)	(3)
1.16	Proceeds from borrowings
1.17	Repayment of advance
1.18	Dividends paid
1.19	Cost of capital raising
Net financing cash flows		462	1,062
Net increase (decrease) in cash held		219	(176)
1.20	Cash at beginning of quarter/year to date	149	544
1.21	Exchange rate adjustments to item 1.20
1.22	Cash at end of quarter¹	368	368

¹The Company will receive a further $100,000 on 10th May 2016 following shareholder approval, and a further $300,000 from a fully underwritten rights issue.‌

Payments to directors of the entity and associates of the directors Payments to 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	54
1.24	Aggregate amount of loans to the parties included in item 1.10	-

1.25 Explanation necessary for an understanding of the transactions

Salary and director fees paid to directors and director related entities.

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

Financing facilities available

Add notes as necessary for an understanding of the position.

Amount available $A'000	Amount used $A'000
3.1	Loan facilities	675	675
3.2	Credit standby arrangements

Estimated cash outflows for next quarter

$A'000
4.1	Exploration and evaluation	100
4.2	Development
4.3	Production
4.4	Administration	100
Total		200

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.		Current quarter $A'000	Previous quarter $A'000
5.1	Cash on hand and at bank	368	149
5.2	Deposits at call	-	-
5.3	Bank overdraft
5.4	Other (provide details)
Total: cash at end of quarter (item 1.22)		368	149

Changes in interests in mining tenements

Tenement reference	Nature of interest (note (2))	Interest at beginning of quarter	Interest at end of quarter

1. Interests in mining tenements relinquished, reduced or lapsed

2. Interests in mining 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.

Total number	Number quoted	Issue price per security (see note 3) (cents)	Amount paid up per security (see note 3) (cents)
7.1	Preference +securities (description)
7.2	Changes during quarter Increases through issues Decreases through returns of capital, buy- backs, redemptions
7.3	+Ordinary securities	506,536,630	506,536,630	Fully paid
7.4	Changes during quarter Increases through issues Decreases through returns of capital, buy- backs	116,125,000 1,271,186 2,877,666	116,125,000 1,271,186 2,877,666	0.4c per share Deemed price 0.5c per share Deemed price 1.5 c per share	Fully paid Fully paid Fully paid
7.5	+Convertible debt securities (description)
7.6	Changes during quarter Increases through issues Decreases through securities matured, converted
7.7	Options (description and conversion factor)	15,000,000	NIL	Exercise price 3 cents	Expiry date 30 Nov 2018
7.8	Issued during quarter
7.9	Exercised during quarter
7.10	Expired during quarter
7.11	Debentures (totals only)
7.12	Unsecured notes (totals only)

Performance Rights

Performance Rights to the extent of 1,271,186 were satisfied and vested on 9 April 2016. The remaining performance rights, being 5,084,746 rights expired on this date.