ASX Release

20 June 2022

For personal use only

Amendment - Appendix 5B

ENDS

** This announcement is authorised by the executive board on behalf of the Company **

MetalsTech Limited ACN 612 100 464 Unit 1, 44 Denis Street, Subiaco WA 6008 www.metalstech.net

For personal use only

Rule 5.5

Appendix 5B

Mining exploration entity or oil and gas exploration entity

quarterly cash flow report

Name of entity

Metalstech Limited

ABN

Quarter ended ("current quarter")

82 612 100 464

31 March 2022

Consolidated statement of cash flows

Current quarter

Year to date

$A'000

(9 months)

$A'000

1.

Cash flows from operating activities

1.1

Receipts - sale of royalty interests

-

6,646

1.2

Payments for

(a) exploration & evaluation (if expensed)

-

-

(b)

development

-

-

(c)

production

-

-

(d)

staff costs

(38)

(114)

(e) admin and corporate costs

(224)

(2,139)

1.3

Dividends received (see note 3)

-

-

1.4

Interest received

-

-

1.5

Interest and other costs of finance paid

-

(78)

1.6

Income taxes paid

-

-

1.7

Government grants and tax incentives

-

-

1.8 Other - cost of spin out of Winsome

Resources

-

(565)

- cash in subsidiaries sold

-

(45)

1.9

Net cash from / (used in) operating

(262)

3,705

activities

2.

Cash flows from investing activities

2.1

Payments to acquire:

(a)

entities - Gold Project entity

-

-

(b)

tenements

-

-

(c)

property, plant and equipment

-

-

(d)

exploration & evaluation (if capitalised)

(472)

(2,015)

(e)

investments

-

-

(f)

other non-current assets

-

-

ASX Listing Rules Appendix 5B (01/12/19)

Page 1

+ See chapter 19 of the ASX Listing Rules for defined terms.

For personal use only

Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Consolidated statement of cash flows

Current quarter

Year to date

$A'000

(9 months)

$A'000

2.2

Proceeds from the disposal of:

(a)

entities

-

-

(b)

tenements

-

-

(c) property, plant and equipment

-

-

(d)

investments

-

-

(e)

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

(472)

(2,015)

activities

3. Cash flows from financing activities

3.1 Proceeds from issues of equity securities

(excluding convertible debt securities)

-

2,000

3.2

Proceeds from issue of convertible debt

-

-

securities

3.3

Proceeds from exercise of options

-

476

3.4

Transaction costs related to issues of equity

-

-

securities or convertible debt securities

3.5

Proceeds from borrowings

-

-

3.6

Repayment of borrowings

-

(1,100)

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

-

1,376

activities

4. Net increase / (decrease) in cash and cash equivalents for the period

4.1

Cash and cash equivalents at beginning of

4,077

277

period

4.2

Net cash from / (used in) operating

(262)

3,705

activities (item 1.9 above)

4.3

Net cash from / (used in) investing activities

(472)

(2,015)

(item 2.6 above)

4.4

Net cash from / (used in) financing activities

-

1,376

(item 3.10 above)

ASX Listing Rules Appendix 5B (01/12/19)

Page 2

+ See chapter 19 of the ASX Listing Rules for defined terms.

Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report

only

Consolidated statement of cash flows

  1. Effect of movement in exchange rates on cash held
  2. Cash and cash equivalents at end of period

Current quarter

Year to date

$A'000

(9 months)

$A'000

-

-

3,336

3,336

For personal use

5.

Reconciliation of cash and cash

Current quarter

Previous quarter

equivalents

$A'000

$A'000

at the end of the quarter (as shown in the

consolidated statement of cash flows) to the

related items in the accounts

5.1

Bank balances

3,336

4,077

5.2

Call deposits

-

-

5.3

Bank overdrafts

-

-

5.4

Other (provide details)

-

-

5.5

Cash and cash equivalents at end of

3,336

4,077

quarter (should equal item 4.6 above)

188

6.

Payments to related parties of the entity and their

Current quarter

associates

$A'000

6.1

Aggregate amount of payments to related parties and their

176

associates included in item 1

6.2 Aggregate amount of payments to related parties and their associates included in item 2

Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments

Item 6.1 - Consulting fees and directors fees paid to directors and their associated entities

R Moran/associated entity - $104,400 G D'Anna/associated entity $54,008 Q Zeng/associated entity $18,000

ASX Listing Rules Appendix 5B (01/12/19)

Page 3

+ See chapter 19 of the ASX Listing Rules for defined terms.

Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report

only

7. Financing facilities

Note: the term "facility' includes all forms of financing arrangements available to the entity.

Add notes as necessary for an understanding of the sources of finance available to the entity.

7.1 Loan facilities

7.2 Credit standby arrangements

7.3 Other (please specify)

7.4 Total financing facilities

Total facility

Amount drawn at

amount at quarter

quarter end

end

$A'000

$A'000

-

-

-

-

-

-

-

-

For personal use

7.5

Unused financing facilities available at quarter end

-

7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well.

8.

Estimated cash available for future operating activities

$A'000

8.1

Net cash from / (used in) operating activities (Item 1.9)

3,705

8.2

Capitalised exploration & evaluation (Item 2.1(d))

(2,015)

8.3

Total relevant outgoings (Item 8.1 + Item 8.2)

3,490

8.4

Cash and cash equivalents at quarter end (Item 4.6)

3,336

8.5

Unused finance facilities available at quarter end (Item 7.5)

-

8.6

Total available funding (Item 8.4 + Item 8.5)

3,336

8.7

Estimated quarters of funding available (Item 8.6 divided by

>2

Item 8.3)

8.8 If Item 8.7 is less than 2 quarters, please provide answers to the following questions:

1. Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?

Answer: The Company expects that net operating cash flows will remain at the same level for future quarters of operation.

2. Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?

Answer: The Company has sufficient cash available to fund its expenditure commitments.

3. Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?

Answer: Yes. The Company is currently continuing with its Phase II drilling program at the Sturec Gold Mine and will soon be commencing to its Phase III and IV underground drilling program. The Company is also completing a Scoping Study over the Sturec Gold Mine.

ASX Listing Rules Appendix 5B (01/12/19)

Page 4

+ See chapter 19 of the ASX Listing Rules for defined terms.

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MetalsTech Limited published this content on 20 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 June 2022 08:13:08 UTC.