ABM Resources NL : Interim Financial Report for the Half-Year Ended 31 Dec 16

ABM RESOURCES NL AND CONTROLLED ENTITIES

ABN 58 009 127 020

INTERIM FINANCIAL REPORT FOR THE HALF-YEAR ENDED 31 DECEMBER 2016

ABN 58 009 127 020 ACN 009 127 020

Mr Matthew Briggs (Managing Director) (appointed 3 October 2016) Ms Susan Corlett

Mr Brett Smith

SUBIACO WA 6008

PERTH WA 6000

APPLECROSS WA 6153

Telephone: +61 8 9315 2333

Northern Territory House Level 7, 22 Mitchell Street

DARWIN NT 0800

Piper Alderman

Level 16, 70 Franklin Street

ADELAIDE SA 5000

NEDLANDS WA 6009

Telephone: +61 8 9423 9777

Fax: +61 8 9423 9733

Telephone +61 8 9423 9777

Fax: + 61 8 9423 9733

NEDLANDS WA 6009

Website www.abmresources.com.au

Email admin@abmresources.com.au

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Directors' Report 3

Auditor's Independence Declaration 5

Interim Financial Report

Consolidated Statement of Profit or Loss and Other Comprehensive Income 6

Consolidated Statement of Financial Position 7

Consolidated Statement of Changes in Equity 8

Consolidated Statement of Cash Flows 9

Notes to the Consolidated Financial Statements 10

Directors' Declaration 17

Independent Auditor's Review Report to the Members 18

DIRECTORS' REPORT

The Directors of ABM Resources NL present their report on the consolidated entity (Group), consisting of ABM Resources NL and the entities it controlled at the end of, and during, the half-year ended 31 December 2016.

The Directors have been appointed for the whole period unless otherwise disclosed.

The consolidated loss of the Group for the half-year ended 31 December 2016 after providing for income tax amounted to

$4,008,977 (2015: loss of $22,605,222).

Since the start of the 2016/2017 financial year ABM:

• Completed board and management changes with the appointment of Matthew Briggs as Managing Director on 3 October 2016

• Commenced the implementation of a focussed exploration strategy on ABM's under-explored and highly prospective tenement holdings in the Tanami region

• Assessed corporate and asset level opportunities, including joint ventures on early stage exploration projects, and divestments

• Undertook exploration at the Suplejack Project completing a total of 954 metres of RC drilling and 1,906 metres of diamond drilling

• Identified a new structure at Hyperion - Tethys Prospect, named the Suess Fault. Results included up to 6.3g/t gold from rock chip sampling

• Released an updated Resource model for the Old Pirate Deposit

• Commenced work to update the Hyperion resource

• Mapping and geochemical sampling continued across the area

• IGO continued exploration at the Lake Mackay Project completing an aeromagnetic survey and an 18 RC hole drilling program, delivering multiple intersections at the Grapple Prospect

• Commenced a joint venture and divestment process for the Twin Bonanza area

• Partial release of rehabilitation bond for the Old Pirate Deposit

  Events Subsequent to the Reporting Date

• ABM continues to add historical drilling and soil sampling results to the database

• Focussed exploration targeting work

• Hyperion Resource update

• Continued joint venture and divestment discussions for early stage project areas and the deposits making up Twin Bonanza

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