Orrex Resources : Half Yearly Report and Accounts

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ABN: 29 107 371 497

INTERIM FINANCIAL REPORT FOR THE HALF-YEAR ENDED 31 DECEMBER 2015

This interim financial report does not include all the notes of the type normally included in an annual financial report. Accordingly, this report is to be read in conjunction with the Annual Report for the year ended 30 June 2015 and any public announcements made by Orrex Resources Ltd during the interim report period in accordance with the continuous disclosure requirements of the Corporations Act 2001. CORPORATE INFORMATION

This half year report covers Orrex Resources Ltd as an individual entity. The company's functional and presentation currency is AUD ($).

Directors

Mark Stowell (Chairman)

Jeremy Bond (Non-Executive Director) Guy Lyons (Non-Executive Director)

Company Secretary

Jonathan Asquith

Registered office

20 Howard Street

Perth WA 6000 Australia

Telephone: [phone] Website: www.orrexresources.com

Auditors Bankers

Stantons International Bank of Western Australia

Level 2, 1 Walker Avenue Bank West Tower

West Perth WA 6005 St Georges Terrace

Australia Perth WA 6000

National Australia Bank Level 1

1238 Hay Street West Perth WA 6005

Share Registrar Solicitors

Security Transfer Registrars Johnson Winter Slattery

770 Canning Highway Level 1, London House

Applecross WA 6153 216 St Georges Terrace Perth WA 6000

DIRECTOR'S REPORT

The directors of Orrex Resources Ltd (Orrex or the Company; ASX: ORX) submit herewith the financial report of Orrex for the half year ended 31 December 2015. In order to comply with the provisions of the Corporations Act 2001, the directors report as follows:

The names of the directors of the Company during or since the end of the half-year are: Mr. M. Stowell Chairman

Mr Jeremy Bond Non-executive Director

Mr Guy Lyons Non-executive Director

The above named directors all held office during and since the end of the half-year.

REVIEW OF OPERATIONS

During the half year the company continued to focus on acquiring additional projects for the Company.

On 14 December 2015 the Company entered into a conditional Purchase and Sale Agreement (PSA) to acquire 100% of Nvoi Limited (Nvoi). Nvoi is a globally scalable cloud-based platform for candidates and hiring managers in the on-site white-collar contingent (non-permanent basis) workforce economy.

AUDITOR'S INDEPENDENCE DECLARATION

A copy of the auditor's independence declaration as required under section 307C of the Corporations Act 2001 is set out on page 11.

This report is made in accordance with a resolution of directors. On behalf of the Directors

M Stowell Chairman

21 January 2016

CONDENSED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2015

Current Assets Cash and cash equivalents	Notes 4	As at 31 December 2015 $ 2,372,913	As at 30 June 2015 $ 2,540,518
Trade and other receivables	16,949	13,833
Total Current Assets	2,389,862	2,554,351
Non Current Assets Exploration assets	100	351,721
Total Non Current Assets	100	351,721
Total Assets	2,389,962	2,906,072
Current Liabilities Trade and other payables	27,474	76,026
Total Current Liabilities	27,474	76,026
Total Liabilities	27,474	76,026
Net Assets	2,362,488	2,830,046
Equity Contributed Equity	5	7,098,983	7,098,983
Reserves	382,667	382,667
Accumulated Losses	(5,119,162)	( 4,651,604)
Total Equity	2,362,488	2,830,046

The above Condensed Statement of Financial Position should be read in conjunction with the accompanying notes