ASX Announcement

Correction to Appendix 5B

31 July 2022

Element 25 Limited (ASX: E25) (E25) advises that the Appendix 5B for the quarter ending 30 June 2022, released on the ASX Market Announcements Platform on 29 July 2022, contained an incorrect note following section 5.

The note should have included Receipts from Customers due 30 June 2022 of $5,839,610 which was received in July 2022.

An updated version of the Appendix 5B has been provided to the ASX and is attached below.

For further information please contact:

Mr Justin Brown

Managing Director

Element 25 Limited

P: +61 6315 1400

This announcement is authorised for market release by the Board of Element 25 Limited.

Rule 5.5

Appendix 5B

Mining exploration entity or oil and gas exploration entity

quarterly cash flow report

Name of entity

Element 25 Limited

ABN

Quarter ended ("current quarter")

46 119 711 929

30 June 2022

Consolidated statement of cash flows

Current quarter

Year to date

$A'000

(12 months)

$A'000

1.

Cash flows from operating activities

1.1

Receipts from customers

11,845

26,933

Receipts from customers not received^

(5,839)

(5,839)

1.2

Payments for

(a)

exploration & evaluation

(127)

(257)

(b)

development

(270)

(1,516)

(c)

production

(10,838)

(34,256)

(d)

staff costs

(825)

(3,720)

(e) administration and corporate costs

(64)

(1,540)

1.3

Dividends received (see note 3)

-

-

1.4

Interest received

4

36

1.5

Interest and other costs of finance paid

(43)

(43)

1.6

Income taxes paid

-

-

1.7

Government grants and tax incentives

(404)

138

1.8

Other - Movement of cash previously

73

155

classified as non-restricted

1.9

Net cash from / (used in) operating

(6,488)

(19,909)

activities

2.

Cash flows from investing activities

2.1

Payments to acquire or for:

(a)

entities

-

-

(b)

tenements

-

-

(c) property, plant and equipment

(839)

(1,320)

(d)

exploration & evaluation

-

-

(e)

investments

-

-

(f)

other non-current assets

-

-

ASX Listing Rules Appendix 5B (17/07/20)

Page 1

+ See chapter 19 of the ASX Listing Rules for defined terms.

Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Consolidated statement of cash flows

Current quarter

Year to date

$A'000

(12 months)

$A'000

2.2

Proceeds from the disposal of:

(a)

entities

-

-

(b)

tenements

125

330

(c) property, plant and equipment

-

-

(d)

investments

-

-

(e)

other non-current assets

-

-

2.3

Cash flows from loans to other entities

-

-

2.4

Dividends received (see note 3)

-

-

2.5

Other (provide details if material)

-

-

2.6

Net cash from / (used in) investing

(714)

(990)

activities

3. Cash flows from financing activities

3.1 Proceeds from issues of equity securities

(excluding convertible debt securities)

-

-

3.2

Proceeds from issue of convertible debt

-

-

securities

3.3

Proceeds from exercise of options

-

858

3.4

Transaction costs related to issues of equity

-

(5)

securities or convertible debt securities

3.5

Proceeds from borrowings

-

-

3.6

Repayment of borrowings

-

-

3.7

Transaction costs related to loans and

-

-

borrowings

3.8

Dividends paid

-

-

3.9

Other (lease payments)

(191)

(369)

3.10

Net cash from / (used in) financing

(191)

484

activities

4. Net increase / (decrease) in cash and cash equivalents for the period

4.1

Cash and cash equivalents at beginning of

21,873

34,823

period

4.2

Net cash from / (used in) operating

(6,488)

(19,909)

activities (item 1.9 above)

4.3

Net cash from / (used in) investing activities

(714)

(990)

(item 2.6 above)

4.4

Net cash from / (used in) financing activities

(191)

484

(item 3.10 above)

ASX Listing Rules Appendix 5B (17/07/20)

Page 2

+ See chapter 19 of the ASX Listing Rules for defined terms.

Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Consolidated statement of cash flows

  1. Effect of movement in exchange rates on cash held
  2. Cash and cash equivalents at end of period

Current quarter

Year to date

$A'000

(12 months)

$A'000

422

494

14,902

14,902

5.

Reconciliation of cash and cash

Current quarter

Previous quarter

equivalents

$A'000

$A'000

at the end of the quarter (as shown in the

consolidated statement of cash flows) to the

related items in the accounts

5.1

Bank balances

14,902

21,873

5.2

Call deposits

-

-

5.3

Bank overdrafts

-

-

5.4

Other (provide details)

-

-

5.5

Cash and cash equivalents at end of

14,902*

21,873

quarter (should equal item 4.6 above)

  • Excludes 30 June market value of listed equity investments of $2,054,239 and Receipts from Customers due 30 June 2022 of $5,839,610.
  • Receipts from Customer not received includes amount due 30 June 2022 of $5,839,610 which was paid July 2022, resulting in a timing difference.

6.

Payments to related parties of the entity and their

Current quarter

associates

$A'000

6.1

Aggregate amount of payments to related parties and their

101

associates included in item 1

6.2

Aggregate amount of payments to related parties and their

-

associates included in item 2

Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments.

ASX Listing Rules Appendix 5B (17/07/20)

Page 3

+ See chapter 19 of the ASX Listing Rules for defined terms.

Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report

7. Financing facilities

Note: the term "facility' includes all forms of financing arrangements available to the entity.

Add notes as necessary for an understanding of the sources of finance available to the entity.

  1. Loan facilities
  2. Credit standby arrangements
  3. Other (please specify)
  4. Total financing facilities

Total facility

Amount drawn at

amount at quarter

quarter end

end

$A'000

$A'000

-

-

-

-

-

-

-

-

7.5

Unused financing facilities available at quarter end

-

7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well.

N/A

8.

Estimated cash available for future operating activities

$A'000

8.1

Net cash from / (used in) operating activities (item 1.9)

(6,488)

8.2

(Payments for exploration & evaluation classified as investing

-

activities) (item 2.1(d))

8.3

Total relevant outgoings (item 8.1 + item 8.2)

(6,488)

8.4

Cash and cash equivalents at quarter end (item 4.6)

14,902

8.5

Unused finance facilities available at quarter end (item 7.5)

-

8.6

Total available funding (item 8.4 + item 8.5)

14,902

8.7

Estimated quarters of funding available (item 8.6 divided by

2.30

item 8.3)

Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as "N/A".

Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7.

8.8

If item 8.7 is less than 2 quarters, please provide answers to the following questions:

8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?

N/A

8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?

N/A

ASX Listing Rules Appendix 5B (17/07/20)

Page 4

+ See chapter 19 of the ASX Listing Rules for defined terms.

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Element 25 Ltd. published this content on 01 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 August 2022 01:23:03 UTC.