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Tasman Resources NL

Published : October 07th, 2016

Annual Report to shareholders

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Keywords :   Australia | Cash | Cobalt |

Annual Report to shareholders

for the Year En

R

ded 30 June 2016

Tasman Resources Ltd

& Controlled Entities

ABN: 85 009 253 187

ESOURCES L TD‌‌‌‌‌‌‌‌‌‌

Table of Contents

Highlights for the Year to 30 June 2016 3

Corporate Directory 4

Review of Operations 5

Directors' Report 10

Auditor's Independence Declaration 15

Consolidated Statement of Profit or Loss and Other Comprehensive Income 16

Consolidated Statement of Financial Position 17

Consolidated Statement of Changes in Equity 18

Consolidated Statement of Cash Flows 19

Notes to the Financial Statements 20

Directors' Declaration 38

Independent Auditor's Report 39

Additional Information for Listed Public Companies 42

Tenement Schedule 42

HIGHLIGHTS FOR THE YEAR TO 30 JUNE 2016

Eden Energy Ltd Investment (ASX Code: EDE)

  • Tasman has a 42% interest in Eden Energy Ltd which develops and markets clean technology products. It currently produces and sells EdenCreteTM, a revolutionary high performance concrete admixture and OptiBlendTM, a world leading innovative retrofit dual fuel technology developed for diesel generator sets. During the year Eden made

    significant progress towards achieving its goal of having EdenCreteTM become a

    product that is widely used in the concrete market, particularly the huge US infrastructure market. Further progress was achieved in Eden's collaborative research projects being conducted with the University of Queensland and Deakin University.

    Parkinson Dam Epithermal Gold-Silver Project (EL 5602), South Australia

  • No further exploration activities were conducted at this project. Further work, including follow-up drilling at the Corrie Dam prospect and possibly IP geophysical surveying over part of the original gold-silver discovery at Parkinson Dam is subject to funding being available and an upturn in global metal demand.

    Vulcan IOCGU* Project (ELs 4857, 5465, 5499), South Australia

  • No exploration was conducted at this project. Further exploration will be subject to sufficient funds being available and an upturn in global metal demand.

    (*IOCGU Iron-oxide copper-gold-uranium)

    Corporate

  • Tasman has a 14% interest in Conico Ltd. Conico owns 50% of the Mt Thirsty nickel- cobalt-manganese oxide deposit in Western Australia.

  • Tasman completed a non-renounceable pro-rata rights issues raising $1.05 million before costs.

CORPORATE DIRECTORY

DIRECTORS:

Gregory H Solomon LLB (Executive Chairman)

Douglas H Solomon BJuris LLB (Hons) (Non-Executive)

Guy T Le Page B.A., B.Sc. (Hons).,M.B.A., F.FIN., MAusIMM (Non-Executive)

COMPANY SECRETARY:

Aaron P Gates BCom CA AGIA

REGISTERED OFFICE:

Level 15

197 St Georges Terrace Perth

Western Australia 6000

Tel +61 8 9282 5889

Fax +61 8 9282 5866

Email: [email protected] Website: www.tasmanresources.com.au

SOLICITORS:

Solomon Brothers Level 15

197 St Georges Terrace Perth WA 6000

Minter Ellison

1 King William Street Adelaide SA 5000

AUDITORS:

Nexia Perth Audit Services Pty Ltd Level 3

88 William Street

Perth WA 6000

SHARE REGISTRY:

Advanced Share Registry Services 110 Stirling Highway

Nedlands WA 6009

STOCK EXCHANGE LISTING:

ASX Code: TAS (ordinary shares)

TASO (5 cent options expiring 31 March 2018)

Quotation has been granted for all the ordinary shares of the company on all Member Exchanges of the Australian Securities Exchange Limited.

Read the rest of the article at www.publicnow.com
Data and Statistics for these countries : Australia | Georgia | All
Gold and Silver Prices for these countries : Australia | Georgia | All

Tasman Resources NL

EXPLORATION STAGE
CODE : TAS.AX
ISIN : AU000000TAS5
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Tasman is a silver and gold exploration company based in Australia.

Tasman holds various exploration projects in Australia and in Finland.

Its main exploration properties are PARKINSON DAM and WYNBRING EL3306 (CENTRAL GRAWLER) in Australia and OTANMAKI in Finland.

Tasman is listed in Australia and in Germany. Its market capitalisation is AU$ 4.6 millions as of today (US$ 3.3 millions, € 2.9 millions).

Its stock quote reached its highest recent level on February 24, 2017 at AU$ 0.30, and its lowest recent point on August 05, 2022 at AU$ 0.01.

Tasman has 382 740 000 shares outstanding.

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