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Traka Resources Ltd

Published : September 23rd, 2016

Full Year Statutory Results

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23 Sep 2016 - Full Year Statutory Results

Traka Resources Limited

ABN: 63 103 323 173

23 September 2016

Company Announcements Office ASX Limited

Level 4, 20 Bridge Street

SYDNEY NSW 2000

Dear Sir/Madam

Financial Statements and Directors' Report

Attached is a copy of the Financial Statements and Directors' Report for the company for the year ended 30 June 2016.

Yours faithfully

P C Ruttledge Company Secretary

Suite 2, Ground Floor, 43 Ventnor Avenue, West Perth, Western Australia 6005 PO Box 601, West Perth, Western Australia, 6872

Tel: +61 8 9322 1655 Fax: +61 8 9322 9144

TRAKA RESOURCES LIMITED

ABN 63 103 323 173 FINANCIAL REPORT

30 JUNE 2016

Directors' Report

For the year ended 30 June 2016

Your Directors present their report on Traka Resources Limited ("Traka" or the "Company") for the year ended 30 June 2016.

DIRECTORS

The following persons were directors of the Company during the whole of the financial year and up to the date of this report:

Neil Tomkinson Patrick Verbeek Joshua Pitt George Petersons

PRINCIPAL ACTIVITIES

During the year the principal activity of the Company was exploration of Traka's mineral tenements.

DIVIDENDS

No dividends were paid during the year and the directors do not recommend the payment of a dividend.

REVIEW OF OPERATIONS AND LIKELY DEVELOPMENTS

The Company's exploration project interests remain concentrated in Western Australia although the search and review of new opportunities is both national and international. The Western Australian exploration interests currently comprise the Musgrave, Yallalong and Ravensthorpe Projects.

A brief description of each of the three active exploration projects follows:

The Musgrave Project

The Musgrave Project currently comprises a number of exploration licence applications in highly prospective ground with drill targets previously highlighted by airborne electromagnetic surveys (Spectrem). During the year ongoing efforts have been made to secure joint funding for testing of these drill targets on the Latitude Hill area of the Musgrave Project. An EIS Grant (Exploration Incentive Scheme grant by the Western Australian Government) of up to $432,000 is available to fund 50% of direct drilling costs on these targets. Negotiations and work is also underway to secure land access to the relevant tenements so that smooth as possible transition to field work programs is achieved.

The Yallalong Antimony Project

On the Yallalong Project the Company exercised an Option it had to earn up to 80% joint venture equity after the successful intersection in drilling of narrow high grade antimony mineralisation and the discovery of additional mineralised targets. Traka will continue to undertake exploration on this property and is committed to $250,000 of expenditure by August 2018 to earn its initial 51% equity position in the joint venture.

Directors' Report

For the year ended 30 June 2016

REVIEW OF OPERATIONS AND LIKELY DEVELOPMENTS (continued)

The Ravensthorpe Project

The Company's interests at Ravensthorpe are dominated by the 100% equity position held in the Mt Short Base Metals Project and the 20% Free Carried interest held in joint venture with Galaxy Resources Ltd ("Galaxy") next to the Mt Cattlin Lithium Mine. Another 20% joint venture interest we have with ACH Pty Ltd on the Bandalup Gossan Prospect has been inactive over the year. Traka has been drilling at Mt Short and intersected low grade zinc, lead and copper mineralisation but highlighted a more prospective zone for follow-up drill testing. Discussions are underway with several parties to undertake further work at Mt Short in a joint venture. At Mt Cattlin the Company's hope is that the recent recommencement of mining by Galaxy will result in the recommencement of exploration in the areas of known lithium and gold mineralisation on the Traka Joint Venture area. At the point in time mining and production meets its target through-put (still in the ramp-up phase at this point) it is expected that Galaxy's attention will turn to securing future feed and sources of ore for its operation. Traka's Free Carried to Production interests would, at no cost, allow immediate participation in one of the few hard rock lithium mines in the world.

Corporate

In order for the Company to advance its exploration interests it is planned that the usual mixture of funding through capital raisings and joint venture farm-outs will continue to meet the Company's needs. The Company continues to maintain a small office with a few key staff to maintain its low cost profile.

The Company made a net loss for the financial year of $1,448,931 (2015: $814,156).

SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS

Other than the operating results, there were no significant changes in the state of affairs of the Company during the year.

MATTERS SUBSEQUENT TO THE END OF THE FINANCIAL YEAR

Subsequent to the end of the financial year, the Company entered into an agreement with Chalice Gold Mines Limited ("Chalice") to allow Chalice to earn-in to the Company's Latitude Hill tenements in the Musgrave Project. Chalice can earn up to 70% interest in the Latitude Hill tenements through expenditure of $10M, with an initial minimum commitment of $1M within the first twelve months. The estimated financial effect of this agreement for the Company cannot be reliably measured at this time.

ENVIRONMENTAL REGULATION

The Company is subject to and compliant with all aspects of environmental regulation of its exploration activities. The directors are not aware of any environmental law that is not being complied with. The National Greenhouse and Energy Reporting Act 2007 requires entities to report annual greenhouse gas emission and energy use. The directors have assessed that there are no current reporting requirements, but that the Company may be required to report in the future.

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Data and Statistics for these countries : Australia | Georgia | All
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Traka Resources Ltd

CODE : TKL.AX
ISIN : AU000000TKL9
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Traka Res. is based in Australia.

Traka Res. holds various exploration projects in Australia.

Its main exploration property is RAVENSTHORPE (FE) in Australia.

Traka Res. is listed in Australia and in Germany. Its market capitalisation is AU$ 1.7 millions as of today (US$ 1.2 millions, € 1.1 millions).

Its stock quote reached its highest recent level on April 08, 2011 at AU$ 0.27, and its lowest recent point on April 03, 2020 at AU$ 0.00.

Traka Res. has 284 630 016 shares outstanding.

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Financings of Traka Resources Ltd
9/23/2016 Full Year Statutory Results
Corporate news of Traka Resources Ltd
7/29/201629 Jul 2016 - Quarterly Activities and Cashflow Report
6/2/20162 Jun 2016 - Change of Auditor
6/2/20161 Jun 2016 - Cleansing Notice for new share issue
5/31/201631 May 2016 - Appendix 3B: Issue of Shares
4/20/201631 Mar 2016 - Quarterly Activities and Cashflow Report
4/6/20166 Apr 2016 - Response to ASX Price Volume Query
1/25/201615 Jan 2016 - Drill Results and Progress - Yallalong Antimon...
11/3/20152 Nov 2015 - Additional information for AGM Resolution
10/15/201515 Oct 2015 - Notice of Annual General Meeting
10/15/201515 Oct 2015 - Appendix 4G
10/8/20158 Oct 2015 - Change in Substantial Holding
9/14/201511 Sep 2015 - 2013 Financial Report
8/28/201527 Aug 2015 - Change of Director's Interests Notices
8/25/201524 Aug 2015 - Substantial Holder Changes
8/24/201524 Aug 2015 - Yallalong Exploration Progress
7/29/2015Quarterly Activities Report
7/23/201522 Jul 2015 - Non Renounceable Entitlement Offer - Prospectu...
7/23/201522 Jul 2015 - Announcement of Entitlement Issue
7/13/201513 Jul 2015 - Traka secures JV rights to Yallalong Antimony ...
3/12/201512 Mar 2015 - App 3Y: Change of Director's Interest Notice
3/12/201512 Mar 2015 - App 3B: Issue of Director's Options
3/11/201510 Mar 2015 - Result of EGM
2/2/201530 Jan 2015 - Quarterly Activities & Cashflow Report Dec 201...
1/14/201514 Jan 2015 - Appendix 3B - Issue of Staff Options
11/17/201417 Nov 2014 - Change of Director's Interest Notice
11/17/201417 Nov 2014 - Expiry of unlisted director's and staff option...
10/16/201416 Oct 2014 - Western Areas withdraws from Musgraves JV
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