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LINCOLN
I• MINERALS . .
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ANNUAL REPORT
AUSTRALIAN GRAPHITE DEVELOPER AND EMERGING IRON ORE PRODUCER
Who we are
Lincoln Minerals Limited, a diversified ASX-listed and South Australian-focused mineral exploration and development company, is poised over the next 12 months to deliver the transition to maiden graphite mining production following the achievement of critical development and commercialisation milestones for its primary graphite assets on Eyre Peninsula. The Company also owns and is advancing a pool of second tier assets across multiple mineral commodities on Eyre Peninsula, a proven mining jurisdiction in South Australia.
Our Mission
To provide capital growth through exploration, discovery, development and mining of sustainable economic mineral deposits. Our strategy is to focus on world-class metallogenic provinces close to established infrastructure.
Highlights and Achievements 2015 - 2016
Mineral Lease granted 3 June 2016 for SA's Kookaburra Gully Graphite Project
Preparation of Program for Environment Protection and Rehabilitation (PEPR) well advanced Community Engagement Plan (CEP) for Kookaburra Gully lodged with SA Government Targeting first production - also Lincoln's maiden mining output - in 20171
Targeting production of high quality flake graphite >94% TGC2 Proposed mine site on Eyre Peninsula close to established infrastructure
Adjoining Koppio graphite Mineral Resource doubles total graphite inventory
Market forecasts continue to point to doubling of global graphite demand by 2020 Lincoln Minerals has large strategic tenement holding in world-class graphite province
Total tenement holdings 3,073 square kilometres
Information in this report that relates to exploration activity and results, Mineral Resources and Exploration Targets was compiled by Dr A John Parker who is a Member of the Australasian Institute of Geoscientists. Dr Parker is Managing Director of Lincoln Minerals Limited and has sufficient experience relevant to the styles of mineralisation and to the activities which are being reported to qualify as a Competent Person as defined by the JORC Code, 2012. Dr Parker consents to the release of the information compiled in this report in the form and context in which it appears.
Information extracted from previously published reports identified in this report is available to view on the Company's website www.lincolnminerals.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements.
1 Subject to Government PEPR approval and financing
2 TGC = Total Graphitic Carbon
TABLE OF CONTENTS
1 LINCOLN MINERALS - KEY ASSETS .............................. 2
2 CHAIRMAN'S REPORT...................................................... 5
3 REVIEW OF OPERATIONS................................................ 6
4 KEY BUSINESS DRIVERS ............................................... 10
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EXPLORATION AND DEVELOPMENT - SOUTH AUSTRALIA..................................................................... 12
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DIRECTORS' REPORT FOR THE YEAR ENDED
30 JUNE 2016 .................................................................. 22
7 FINANCIAL STATEMENTS 2016 ..................................... 31
8 ASX ADDITIONAL INFORMATION.................................. 56
9 RESOURCES STATEMENT ............................................. 58
CORPORATE DIRECTORY
Directors
Mr Jin Yubo, Chairman
Dr A John Parker, Managing Director Mr Eddie Lung Yiu Pang, Non-executive
Mr James Tenghui Zhang, Non-executive3
Company Secretary
Jaroslaw (Jarek) Kopias
Registered and Principle Office
Suite 4, Level 7, 350 Collins Street Melbourne
Victoria 3000
Phone: (613) 9600 0782
Facsimile: (613) 9600 0783
Email: [email protected] Website: www.lincolnminerals.com.au
Adelaide Office
28 Greenhill Road Wayville
South Australia 5034
Phone: (618) 8274 0243
Share Registry
Computershare Investor Services Pty Ltd Level 5, 115 Grenfell Street
Adelaide SA 5000
Phone 1300 365 998
Banker
National Australia Bank 33 Rundle Street
Kent Town SA 5067
Auditor
Grant Thornton Australia4 Level 1, 67 Greenhill Road
Wayville SA 5034
ASX code LML
ABN 50 050 117 023
3 Appointed 17 February 2016
4 Appointed 27 November 2015
1 LINCOLN MINERALS - KEY ASSETS
Lincoln Minerals is a major mineral acreage holder on South Australia's Eyre Peninsula, with resources that include world-class flake graphite JORC Mineral Resources, substantial magnetite and hematite resources and potential copper targets in a region with a long history of graphite, iron ore and copper mining
Lincoln Minerals is shifting its focus from exploration to maiden production with plans in place for development and mining of graphite in 2017 at its wholly owned Kookaburra Gully Graphite Project.
Lincoln Minerals has a Board and management team focused on sustainable mining development and commercialisation of graphite, as well as iron ore, copper and other growth opportunities.
Mt = million tonnes TGC = Total Graphitic Carbon
