WESTERN YILGARN NL ASX ANNOUNCEMENT
27 July 2022
For personal use only
JUNE 2022 QUARTERLY REPORT
Western Yilgarn NL (Western Yilgarn or Company) (ASX: WYX) (previously Pacific Bauxite NL) provides its Quarterly Activities Report for the period ending 30 June 2022 (Quarter).
Key highlights are:
- Land Access negotiations advancing at the Melbourne Project
- Bulga, Sylvania, Challa and Boodanoo Project geophysicial reviews underway
- Confirmation from DMIRS that Darling Range Project application remains in good standing and grant process is progressing
- Establishment of key consultants for Geophysical; Geochemistry; exploration Geology disciplines
CORPORATE
ASX REINSTATEMENT & CHANGE OF NAME
On 4 May 2022, the Company recommenced trading on the ASX.
On 29 June 2022, the Company held a general meeting of shareholders to approve the change in name to Western Yilgarn NL and change of ASX ticker to WYX. The resolution was carried. The effective date for the change in name and ticker code on the ASX was at the commencement of trading on 8 July 2022 subsequent to the quarter end.
UNMARKETABLE PARCEL SALE FACILITY
On 8 June 2022, the Company announced that it had established an unmarketable parcel sale facility for shareholders who hold less than $500 worth of fully paid ordinary shares in the Company.
FINANCIALS
APPENDIX 5B QUARTERLY REPORT AND STATEMENT OF CASH FLOWS
The ASX Appendix 5B quarterly report is attached to and lodged with this report. The Company's Appendix 5B Quarterly Report covers the 3-month period from 1 April 2022 to 30 June 2022.
During the quarter, the Company successfully raised $4.5 million (net of expenses of $361k). In addition, the Company repaid borrowings of $184k comprising reimbursement of outgoings to the vendors of AAM Resources and Western Yilgarn totalling $48k, and the repayment of a loan of $120k plus interest which was previously advanced to the Company's wholly owned subsidiary PBX Aus Pty Ltd in relation to its Darling Range PGE project.
During the quarter, an amount of $456k was paid to creditors of the Company relating to historical balances payable before the Company entered into voluntary administration, as well as for services provided as part of the ASX reinstatement process. The Company spent $45k on exploration expenditure during the quarter.
Registered Address: 2A / 300 Fitzgerald Street, North Perth, WA, 6006 ACN: 112 914 459
For personal use only
ASX ANNOUNCEMENT
27 July 2022
PAYMENTS TO RELATED PARTIES AND THEIR ASSOCIATES
In accordance with ASX Listing Rule 5.3.5, an amount of $96k was paid to Directors of the Company in respect to Director fees owing since September 2021.
PROJECTS
OVERVIEW
Prospective for platinum group metals (PGE), gold, nickel, and other minerals, Western Yilgarn's portfolio of 6 projects comprises 7 exploration licences with 2 licences (ELA36/1025 and ELA70/5111) under application as at 30 June 2022.
At the date of this announcement, ELA36/1025 has been granted and ELA70A/5111 remains under application as outlined below under Darling Range PGE Project.
Activities applicable to all licences:
- Expenditure budget forecasts further refined and approved by Board.
- Expert consultant services retained:
- ExploreGeo led by Geophysicist/Geologist/CP Mr Kim Frankcombe.
- SAHARA NR (Natural Resources) led by Geologist/CP Mr Beau Nicholls. o Sugden GeoScience led by Geochemist Mr Stephen Sugden.
Activities for the quarter by Project are listed below:
MELBOURNE PROJECT (E70/5767 and E70/5921)
The Company has commenced negotiations with landholders within the Melbourne Project tenements seeking land access to begin exploration activities.
SAHARA NR has been engaged to generate a soil sampling plan for implementation across the two Project tenements once land access has been established and feasible.
CHALLA & BOODANOO PROJECTS (E58/562 and E59/2496)
ExploreGeo has been engaged to supply a macro precis of prospectivity on the Challa and Boodanoo Projects for eventual use in soil sampling and geochemistry campaign planning. The Projects have been studied in consort due to their close proximity to each other. The Company expects to receive the precis from ExploreGeo in July/August.
SYLVANIA (E52/3861)
ExploreGeo has been engaged to supply a macro precis of prospectivity on the Sylvania Project for eventual use in soil sampling and geochemistry campaign planning. The Company expects to receive the precis from ExploreGeo in July/August.
BULGA (E36/1010, E36/1011 and ELA36/1025)
ExploreGeo has been engaged to supply a macro precis of prospectivity on the Bulga Project for eventual use in soil sampling and geochemistry campaign planning. The Company expects to receive the precis from ExploreGeo in July/August.
Registered Address: 2A / 300 Fitzgerald Street, North Perth, WA, 6006 ACN: 112 914 459
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ASX ANNOUNCEMENT
27 July 2022
DARLING RANGE PGE PROJECT (ELA70/5111)
The Company applied for ELA70/5111 on 4 January 2018. The application was recommended for grant on 16 February 2018 and has since cleared Native Title and other approval processes. The application overlaps approximately 2.97% of a File Notation Area (FNA) for the Strategic Assessment of the Perth-Peel Green Growth Plan (SAPPR). The Department of Mines, Industry, Regulation and Safety (DMIRS) previously delayed the grant of tenements which overlap the SAPPR. This included ELA70/5111. However, DMIRS advised it is consulting with the Department of Biodiversity, Conservation and Attractions for the application to be granted on the basis that a no-mining condition be applied to the application upon grant to protect the reserved (~2.97%) area.
The application also encroaches on the Julimar State Forest and other land-use stakeholders, including private landholders. During the quarter, the Company continued to be in contact with the DMIRS to determine the status of the application.
Activities:
- Dialogue opened with various landowners, community stakeholders, and local government.
- The Company has received confirmation from DMIRS that its application for ELA70/5111 is progressing and remains in good standing.
Authorised for release by the Board of Western Yilgarn NL.
Ends.
All Shareholder enquiries relating to the Company's operations - Please contact:
Peter Lewis (Chairman) on 0418 785 259
Gavin Rutherford (General Manager) on 0400 250 441 John Traicos (Director) on 0417 885 279
or visit the Company website at www.westernyilgarn.com.au
Registered Address: 2A / 300 Fitzgerald Street, North Perth, WA, 6006 ACN: 112 914 459
For personal use only
ASX ANNOUNCEMENT
27 July 2022
WYX SCHEDULE OF INTEREST IN MINING TENEMENTS
(as required by ASX Listing Rule 5.3.3)
Mining Tenements at 30 June 2022
Location | Tenement | Name | Holder | Equity | Status | Area | ||||||||||||||
(blocks) | ||||||||||||||||||||
Western | ELA 70/5111 | Darling Range | PBX Aus Pty Ltd | 100% | Application | 119 | ||||||||||||||
Australia | Pending | |||||||||||||||||||
Western | E52/3861 | Sylvania | AAM Resources | 100% | Application | 43 | ||||||||||||||
Australia | Granted | |||||||||||||||||||
Western | E58/562 | Challa | AAM Resources | 100% | Application | 1 | ||||||||||||||
Australia | Granted | |||||||||||||||||||
Western | E59/2496 | Boodanoo | AAM Resources | 100% | Application | 13 | ||||||||||||||
Australia | Granted | |||||||||||||||||||
Western | E36/1010 | Bulga | Western Yilgarn | 100% | Application | 21 | ||||||||||||||
Australia | Granted | |||||||||||||||||||
Western | E36/1011 | Bulga | Western Yilgarn | 100% | Application | 16 | ||||||||||||||
Australia | Granted | |||||||||||||||||||
Western | ELA36/10251 | Bulga | Western Yilgarn | 100% | Application | 14 | ||||||||||||||
Australia | Pending1 | |||||||||||||||||||
Western | E70/5767 | Melbourne | Western Yilgarn | 100% | Application | 35 | ||||||||||||||
Australia | Granted | |||||||||||||||||||
Western | E70/5921 | Melbourne | Western Yilgarn | 100% | Application | 33 | ||||||||||||||
Australia | Granted | |||||||||||||||||||
Notes:
1. Exploration licence E36/1025 granted subsequent to quarter end on 1 July 2022
Mining Tenements Cancelled During the Quarter
None to report.
Mining Tenements Acquired During the Quarter
E52/3861, E58/562, E59/2496, E36/1010, E36/1011, E36/1025, E70/5767 and E70/5921.
Mining Tenements Disposed During the Quarter
During the Quarter, the Company disposed of its interest in the Nendo Bauxite Project (PL01/16) located in the Solomon Islands. Refer to Section 5.3 of the Company's Prospectus dated 7 February 2022 for further information on the divestment of the Nendo Bauxite Project.
Registered Address: 2A / 300 Fitzgerald Street, North Perth, WA, 6006 ACN: 112 914 459
For personal use only
Rule 5.5
Appendix 5B
Mining exploration entity or oil and gas exploration entity
quarterly cash flow report
Name of entity
Pacific Bauxite Ltd | |
ABN | Quarter ended ("current quarter") |
62 112 914 459 | 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 | 1 | 1 | |
1.2 | Payments for | |||
(a) | exploration & evaluation | (45) | (61) | |
(b) | development | - | - | |
(c) | production | - | - | |
(d) | staff costs | (147) | (177) | |
(e) | administration and corporate costs | (309) | (2,091) | |
1.3 | Dividends received (see note 3) | - | - | |
1.4 | Interest received | - | - | |
1.5 | Interest and other costs of finance paid | - | - | |
1.6 | Income taxes paid | - | - | |
1.7 | Government grants and tax incentives | - | - | |
1.8 | Other | - | - | |
1.9 | Net cash from / (used in) operating | (500) | (2,328) | |
activities | ||||
2. | Cash flows from investing activities | |||
2.1 | Payments to acquire or for: | |||
(a) | entities | - | - | |
(b) | tenements | - | - | |
(c) | property, plant and equipment | - | - | |
(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. |
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Western Yilgarn NL published this content on 26 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2022 22:31:01 UTC.
