Microsoft Word - Quarterly Activities Report PE 016 30-09-15 Final.docx
Quarterly Activities Report
Period Ended 30 September 2015
HIGHLIGHTS
Comet Ridge Project Mining Lease Application progressing Cash at bank of $1.936 million
COMET RIDGE PROJECT (EPC 1230)
Acacia Coal Limited (Acacia or the Company) is still aiming to develop a low-capital, shallow open-cut mining operation at Comet Ridge, producing semi-hard coking and thermal coals.
The 2013 Pre-Feasibility Study confirmed the Comet Ridge Project is feasible.
COMET RIDGE PROJECT
QUARTERLY ACTIVITY SUMMARY
Comet Ridge Mining Lease Application (MLA 700005)
The Comet Ridge Mining Lease Application (MLA) continues to be progressed through the various State and Federal Government Departments. Acacia has provided responses to the requests from the Queensland Department of Environment and Heritage Protection (DEHP) for further information, which has allowed the Department of Natural Resources and Mines (DNRM) to advance the MLA to the public advertising stage.
In June 2015 Acacia lodged an Environment Protection and Biodiversity Conservation (EPBC) Referral (in accordance with the Environment Protection and Biodiversity Conservation Act 1999) with the Federal Department of Environment (DOE). The Comet Ridge Project referral has progressed through the public comment period without objection, but has been determined a Controlled Action, meaning that Acacia is required to submit additional information for detailed assessment by the DOE. The preparation of this information is in progress.
Triumph Creek Infrastructure
Acacia continues to hold registered caveats preventing the transfer or assignment of the Springsure Creek Coal Pty Ltd MLAs, which are directly associated with the Comet Ridge Project. The caveats were recently extended to 3 December 2015. Legal proceedings are on foot in the Supreme Court and Land Court of Queensland seeking to maintain such caveats. Acacia, as the Plaintiff in the Supreme Court proceedings, has prepared its case in order to protect its interests in the Triumph Creek Infrastructure Agreements and the Springsure Creek MLAs, which are pegged over Acacia's EPC 1230.
Background: In September 2014, Bandanna Energy Limited was placed under Voluntary Administration and in October 2014, its subsidiary, Springsure Creek Coal, was placed into Receivership. Acacia continues to protect its interests in the Triumph Creek Infrastructure MLA, which is located over the Company's Comet Ridge Project (EPC 1230) and is adjacent to the Comet Ridge MLA area.
Acacia Coal Limited Registered & Principal Office
ABN 13 009 092 068 Suite 2, Level 19, Tower A, The Zenith, 821 Pacific Highway
www.acaciacoal.com Chatswood, NSW 2067 Australia
Email: [email protected] PO Box 758, Chatswood NSW 2057Australia
ASX: AJC Telephone: 1300 222 625 Facsimile: +61 2 9475 0869
Coal Dry Processing Research and Development
Following the extraction and testing of the 23 tonne sample of Triumph Seam coal, Acacia has refined the test and screen procedure in preparation for a planned sample of Fair Hill Seam coal. The excavation and sampling is due to commence during the first week of November 2015, with screening and despatch of the coal concentrate to the laboratory by the end of November 2015.
As previously reported, the bulk sample testing will correlate the laboratory testing with actual mining scale performance. Specifically the bulk sampling aims to:
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understand seam breakout characteristics and sizing during run-of-mine handling;
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process a bulk sample through a scaled-up drop shatter and screening process;
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correlate laboratory drop shatter results with a simulated mining operation; and
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produce a marketable coking coal sample from the bulk sample testing process.
CORPORATE
The Acacia Annual General Meeting is to be held in the Company's office in Chatswood at 11:30am on 9 November 2015.
Cash Management
At 30 September 2015 Acacia had $1.936 million cash-at-bank.
Release Date: 30 October 2015 For more information, please contact:
Gavin May Robert Waring
Managing Director Company Secretary / CFO
T: 1300 222 625 T: 1300 222 625
E: [email protected] E: [email protected]
ACACIA at a GLANCE
Acacia Coal Limited is involved in coal exploration and development. The Company identifies, acquires and takes advantage of opportunities in coal resources to provide coking thermal and coal suitable for the export market.
Schedule of Tenements as at 30 September 2015
The Company has a 100% interest in a coal exploration permit covering approximately 80 km² in Queensland's Bowen Basin, being EPC 1230 Comet Ridge.
ASX Listing Code: AJC
Directors
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Management
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Mr Kym Livesley
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Non-‐Executive Chairman
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Mr Robert Waring
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Chief Financial Officer
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Mr Gavin May
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Managing Director
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Mr Graham Colliss
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Chief Project Officer
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Mr Michael Mulroney Ms Amanda Ward
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Non-‐Executive Director Non-‐Executive Director
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Mr Harvey Crowden
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Chief Metallurgist
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Registered and Principal Office
Suite 1902, Level 19, Tower A, The Zenith, 821 Pacific Highway, Chatswood NSW 2067 Australia PO Box 758, Chatswood NSW 2057 Telephone: 1300 222 625 Facsimile: +61 2 9475 0869
Website and Email Address
Please visit Acacia Coal's website for the Company's latest announcements and news: www.acaciacoal.com Email: [email protected]
Issued Capital and Market Capitalisation
At 29 October 2015 Acacia Coal's issued capital was 903,787,924 ordinary shares and 44,000,000 unlisted options exercisable at 2 cents. At a share price of $0.003 (29 October 2015) the undiluted market capitalisation was $2.7 million.
Number of Shareholders and Major Shareholders
At 29 October 2015 Acacia Coal had 1,249 shareholders. The Share Register records the following as major shareholders at 30 September 2015 accounting for 37.18% of the Company's issued shares:
Major Shareholders %
Argonaut Equity Partners Pty Limited 6.30
Skye Equity Pty Ltd 4.92
Mr Scott Paul Jones & Mr Rodney Malcolm Jones & Mrs Carol Robin Jones 4.80
Hoperidge Enterprises Pty Ltd 4.76
Pershing Australia Nominees Pty Ltd 3.33Chembank Pty Ltd 3.32
HSBC Custody Nominees (Australia) Limited 2.57
UBS Wealth Management Australia Nominees Pty Ltd 2.56
AFM Perseus Fund Limited 2.41
J P Morgan Nominees Australia Limited 2.22
Cash Balance
At 30 September 2015 Acacia Coal's cash balance was approximately $1.936 million.
Shareholder Enquiries
Matters relating to shares held and changes of address should be directed to the Company's Share Registry:
Boardroom Pty Limited
Level 12, 25 George Street, Sydney NSW 2000
GPO Box 3993, Sydney NSW 2001 Telephone: +61 2 9290 9600 Facsimile: +61 2 9279 0664 Email: [email protected] Website: www.boardroomlimited.com.au
Appendix 5B
Acacia Coal Limited Mining exploration entity quarterly report
Appendix 5B
Mining exploration entity quarterly report
Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/2013
Name of entity
ACACIA COAL LTD (ASX Code: AJC)
Rule 5.3
ABN
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Quarter ended ('current quarter')
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13 009 092 068
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30 September 2015
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Consolidated statement of cash flows
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Current Quarter
$A'000
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Year to date (3 Months)
$A'000
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Cash flows related to operating activities
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-
|
-
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1.1 Receipts from product sales and related debtors
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1.2 Payments for (a) exploration and evaluation
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(209)
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(209)
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(b) development
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-
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-
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(c) production
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-
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-
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(d) administration
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(161)
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(161)
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1.3 Dividends received
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-
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-
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1.4 Interest and other items of a similar nature received
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14
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14
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1.5 Interest and other costs of finance paid
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-
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-
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1.6 Income taxes paid
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-
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-
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1.7 Other - refund R&D cashback
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-
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-
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Other - mineral royalties
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-
|
-
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Net operating cash flows
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(356)
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(356)
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Cash flows related to investing activities
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-
|
-
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1.8 Payment for purchases of (a) prospects
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(b) equity investments
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-
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-
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(c) other non current assets
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-
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-
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1.9 Proceeds from sale of (a) prospects
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-
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-
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(b) equity investments
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-
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-
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(c) other non current assets
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-
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-
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1.10 Loans to other entities
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-
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-
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1.11 Loans repaid by other entities
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-
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-
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1.12 Other
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-
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-
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Net investing cash flows
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-
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-
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1.13 Total operating and investing cash flows (carried forward)
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(356)
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(356)
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Appendix 5B Page 1 of 5