A.C.N. 009 230 835
Ground Floor PO Box 690
63 Hay Street West Perth WA 6872
West Perth WA 6008 www.antaresenergy.com
29 January 2016
UPDATE FOR THE QUARTER ENDED 31 DECEMBER 2015
Dear Shareholders,
During the Quarter the Board of Directors has been focused upon negotiating amendments to the transaction documents of both Purchase and Sale Agreements for the sale of Northern Star and Big Star. Whilst working upon this process Antares has also been engaged with other parties concerning both outright sale and joint venture opportunities. These discussions are incomplete and not sufficiently definite to warrant further disclosure at this point in time.
The Board of Directors will report fully as soon as possible.
James Cruickshank Chairman & CEO
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
Rule 5.3
Name of entity |
ANTARES ENERGY LIMITED |
ABN | Quarter ended ("current quarter") |
75 009 230 835 | 31 December 2015 |
Consolidated statement of cash flows
Cash flows related to operating activities | Current quarter $A'000 | Year to date (12 months) $A'000 | |
1.1 | Receipts from product sales and related debtors | 199 | 1,268 |
1.2 | Payments for (a) exploration & evaluation
| (495) (522) (39) (927) | (3,309) (1,191) (238) (3,779) |
1.3 | Dividends received | 490 | 3,365 |
1.4 | Interest and other items of a similar nature received | 1 | 33 |
1.5 | Interest and other costs of finance paid | (1,197) | (4,750) |
1.6 | Income taxes (paid) / refund | - | 1,316 |
1.7 | Other:- Texas Franchise Tax Withholding Tax | - (152) | - (152) |
Net Operating Cash Flows | (2,642) | (7,437) | |
Cash flows related to investing activities | (199) - - | (2,544) - - | |
1.8 | Payment for purchases of: (a) prospects
| ||
1.9 | Proceeds from sale of: (a) prospects
| - - - | - - - |
1.10 | Loans to other entities | - | - |
1.11 | Loans repaid by other entities | - | - |
1.12 | Other (provide details if material) | - | - |
Net investing cash flows | (199) | (2,544) | |
1.13 | Total operating and investing cash flows (carried forward) | (2,841) | (9,981) |
+ See chapter 19 for defined terms.
17/12/2010 Appendix 5B Page 1
Appendix 5B
Mining exploration entity quarterly report
1.13 | Total operating and investing cash flows (brought forward) | (2,841) | (9,981) |
Cash flows related to financing activities | - | - | |
1.14 | Proceeds from issues of shares, options, etc. | ||
1.15 | Proceeds from sale of forfeited shares | - | - |
1.16 | Proceeds from borrowings | - | - |
1.17 | Repayment of borrowings | - | - |
1.18 | Dividends paid | - | - |
1.19 | Other (provide details if material)
| - - - - | - (234) (4,378) - |
Net financing cash flows | - | (4,612) | |
Net increase (decrease) in cash held | (2,841) | (14,593) | |
1.20 | Cash at beginning of quarter/year to date | 4,405 | 14,732 |
1.21 | Exchange rate adjustments to item 1.20 | (175) | 1,250 |
1.22 | Cash at end of quarter | 1,389 | 1,389 |
Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities
Current quarter $A'000 | ||
1.23 | Aggregate amount of payments to the parties included in item 1.2 | (530) |
1.24 | Aggregate amount of loans to the parties included in item 1.10 | - |
1.25 Explanation necessary for an understanding of the transactions
Item 1.23 includes aggregate amounts paid to directors including salary, directors' fees and superannuation.
Non-cash financing and investing activities
2.1 | Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows |
2.2 | Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest |
+ See chapter 19 for defined terms.
Appendix 5B Page 2 17/12/2010
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