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Bass Metals Ltd

Publié le 29 décembre 2013

30.12.2013 Quarterly Activities Report

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Mots clés associés :   Nickel |

30.12.2013 Quarterly Activities Report

ASX RELEASE

Monday 30th

ASX CODE

MFC

December 2013

QUARTERLY REPORT FOR THE PERIOD TO

31 DECEMBER 2013

Metals Finance Limited (ASX: MFC) is pleased to provide its

CAPITAL STRUCTURE

Shares on Issue 73,109,576

52 Week High $ 0.050

52 Week Low $ 0.005

Share Price (27/12/13) $ 0.006

ABOUT

Metals Finance develops mineral assets in partnership with exploration and mining companies, rather than purchasing them. MFC applies the extensive experience of its executives, board and consultants on geologically defined resources to establish appropriate treatment processes, to undertake detailed feasibility studies and to promote the development of projects. It is currently working with three ASX-listed partners at Lucky Break in Queensland and Barnes Hill in Tasmania and Homeville in New South Wales.

Board

Chairman - Geoff Hill

Non-Executive Director - Simon Bird

Non-Executive Director - Rick Anthon

Company Secretary

Ian Morgan

Management

Chief Executive Officer - Mark Sykes

Metals Finance Limited

ABN 87 127 131 604

GPO BOX 3486

SYDNEY, NSW, 2001

P. +61 2 9252 5300

Email: [email protected] www.metalsfinance.com
Quarterly Activities Report for the three month period ending
31 December 2013.

SUMMARY

The activities over the past quarter have focused solely on corporate activities. Management have continued to implement cost savings measures and have undertaken due diligence on several potential investment initiatives. The activities for the quarter included:

CORPORATE

Bass Metals Limited (ASX:BSM) Board Change

Cash Management

o Office Relocation

o Rationalisation of Corporate Roles

o R&D Tax Refund

Project Review

GPO BOX 3486, SYDNEY NSW 2001

Tel:

+61 (0) 2 9252 5300

WWW.METALSFINANCE.COM

ACN 127 131 604

Fax:

+61 (0) 2 9252-8400

CORPORATE

Bass Metals Limited (ASX:BSM, Bass)

During the quarter, Metals Finance was successful in requisitioning a shareholders meeting with the objective of changing the composition of the Board of Bass Metals Limited (Bass). The Bass Board now comprises Mr Rick Anthon (a non-executive director of MFC) and Mr Gavin Solomon (the Managing Director of Helmsec Global Capital Limited) and Mr Tony Treasure (non-executive Independent Director).
Metals Finance is confident the Bass Board can rebuild the value of Bass for all Bass shareholders. As a significant shareholder in Bass, Metals Finance and its shareholders will directly benefit from an uplift in the share price of Bass.

Cash Management

Office Relocation

Metals Finance continues to streamline the business while the Company considers alternative investment opportunities. This has resulted in the registered office relocating from Queensland to Sydney, New South Wales. Metals Finance has moved into a shared office arrangement whereby overheads can be reduced while providing the benefits of a fully equipped office.

Rationalisation of Corporate Roles

Metals Finance had in place a co-Company Secretary role that was shared between Mr Ian Morgan and Mr Arno de Vos. With the resignation of Mr de Vos as co-Company Secretary and Chief Financial Officer on the 10th Dec 2013, Mr Ian Morgan takes on all duties as the Company Secretary and will assist in the management of Metals Finance financial matters. Mr de Vos was employed with the company for over 6 years and the Board thanks Mr de Vos for the valuable contributions he made to the Company during this period.

R&D Tax Refund

Metals Finance received a Research and Development (R&D) tax refund of $240,000 during
the quarter. The refund is associated with activities performed by Metals Finance' wholly
owned subsidiary Nickel Developments Limited.
The R&D Tax Refund strengthens Metals Finance cash position, with the Company now having greater than $650,000 in cash in addition to a significant shareholding in Bass Metals. The Company has a cash burn rate of less than $50,000 per month and is well positioned to secure a new investment and to advance the investment in the short term.

Investment Opportunities

During the quarter, management of Metals Finance reviewed several investment opportunities and conducted the appropriate due diligence as part of an internal investment review process. Metals Finance will keep shareholders informed of potential investments as they develop.

FOR FURTHER INFORMATION CONTACT:

Mark Sykes

Chief Executive Officer Metals Finance Limited T: +61 (2) 9252 5300


More details are available on company website www.metalsfinance.com

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Bass Metals Ltd

PRODUCTEUR
CODE : BSM.AX
ISIN : AU000000BSM8
Suivi et investissement
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Bass Metals est une société de production minière de plomb et de zinc basée en Australie.

Bass Metals est productrice de plomb, de zinc, d'argent, de cuivre et d'or en Australie, en développement de projets d'argent, de cuivre, d'or, de plomb et de zinc en Australie.

Son principal projet en production est QUE RIVER MINE en Australie, son principal projet en développement est HELLYER MINE en Australie et ses principaux projets en exploration sont WHYTE RIVER, HEAZLEWOOD, STERLING VALLEY, MAGNET JV, LYNCHFORD JV, LEVEN RIVER JV, OONAH JV, MT CHARTER et FARRELL en Australie.

Bass Metals est cotée en Australie. Sa capitalisation boursière aujourd'hui est 417,3 millions AU$ (299,4 millions US$, 257,9 millions €).

La valeur de son action a atteint son plus haut niveau récent le 18 février 2011 à 0,47 AU$, et son plus bas niveau récent le 27 juin 2014 à 0,00 AU$.

Bass Metals possède 1 368 150 016 actions en circulation.

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Nominations de Bass Metals Ltd
28/08/2008Appointment of new Exploration Manager
Projets de Bass Metals Ltd
09/12/2011Commercial Robustness of Hellyer Gold Project
20/10/2011McKay High-Grade Hit
28/07/2010(Hellyer Mine)Positive Gold Processing Scoping Study Outcomes
27/01/2010(Hellyer Mine)to Develop its Second Base Metals Mine in Tasmania
18/08/2009(Hellyer Mine)Updated Fossey Zone Resource
23/06/2009(Hellyer Mine)Hellyer Mine Lease Transfer & Tails Resource Update
17/02/2009(Que River Mine)Que River Drilling Update
10/02/2009(Que River Mine)Que River Ore Reserve Upgrade
04/02/2009(Hellyer Mine)Fossey Zone Drilling Update
11/12/2008(Hellyer Mine)Expands Growth Horizons With Landmark $4m Hellyer Mill Acqui...
14/11/2008(Hellyer Mine)High grade drill intercepts at Fossey Zone
30/09/2008(Hellyer Mine)Fossey Zone Resource - Doubles Hellyer Resources
26/09/2008(Que River Mine)Delivers Maiden $1.8M Net Profit Underpinned by Strong Produ...
08/09/2008(Que River Mine)Hellyer & Que River Mine Update
19/08/2008Further Progress on High-Grade Polymetallic Mineralisation a...
01/07/2008(Hellyer Mine)High grade drill intercepts at Fossey Zone
23/06/2008(Que River Mine)Que River Mine Operations Update
02/05/2008 Fossey Zone - High Grade Drill Intercept
17/04/2008(Hellyer Mine)Hellyer Mine Project- High Grade Drill Intercept
10/03/2008Bass Metals: Fossey Zone, Hellyer - Further High Grade Assay...
27/02/200819 Metre High Grade Intersection at Fossey Zone, Hellyer
12/02/2008 Further High Grade Base Metal Intersections at Fossey Zone
Communiqués de Presse de Bass Metals Ltd
27/05/2016Bass Transaction Update
04/12/2015Bass Transaction Update 4 December 2015
18/09/2015Bass Metals Ltd Investment Update
29/12/201330.12.2013 Quarterly Activities Report
25/10/2011MD Interview =e2?? Quarterly and Capital Raising
25/10/2011September Quarterly Report - A Strong Recovery
13/10/2011Open Investor Forums - Brisbane, Sydney, Melbourne, Perth an...
15/09/2011Prospectus and Update Interview
20/07/2011Rebuilding Lost Value
15/06/2010European Investor Roadshow
11/06/2010New Broker Research from Intersuisse
29/01/2010December 2009 Quarterly Report Of Activities & Cashflow
05/10/2009Hellyer Toll Treatment Letter of Intent
28/09/2009Bass poised for strong growth after sharp increase in profit
14/09/2009Reaches Agreement to Extend Que River Ore Sales
30/07/2009June 2009 Quarterly Report
11/03/2009Delivers $4.5M First Half Profit on Strong Que River Perform...
24/12/2008Drilling Update
20/08/2008Iron, Tin & Tungsten - new Joint Venture
30/07/2008June 2008 Quarterly Activities Report
17/07/2008Metal - Hellyer Project Drilling Update - Fossey Zone Strike...
15/05/2008Exploration & Development Update
24/04/2008Stong March Qtly Report
24/04/2008Quarterly Activities Report - March 2008
31/01/2008December 2007 Quarterly Activities Report
21/12/2007Final Update for 2007
21/11/2007Patersons Research Report
26/06/2007Signs Key Que River Off-take Agreement with Zinifex
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