APPENDIX 4E DIRECTOR'S REPORT‌‌‌‌‌‌‌‌‌‌‌‌‌ ANNUAL FINANCIAL REPORT 2016 Contents

Corporate Directory 1

Appendix 4E - Results For Announcement to the ASX 2

Directors' Report 3

Auditor's Independence Declaration 29

Corporate Governance Statement 30

Consolidated Statement of Comprehensive Income for the year ended 30 June 2016 41

Consolidated Statement of Financial Position as at 30 June 2016 42

Consolidated Statement of Cash Flows for the Year Ended 30 June 2016 43

Consolidated Statement of Changes in Equity for the Year Ended 30 June 2016 44

Notes to the Consolidated Financial Statements for the Year Ended 30 June 2016 45

Directors' Declaration 92

Independent Audit Report 93

Corporate Directory‌ Directors

Peter Newton (Non - Executive Chairman)

Peter Cook (Executive Director & Chief Executive Officer) Warren Hallam (Executive Director)

Paul Cmrlec (Non-Executive Director) Simon Heggen (Non-Executive Director) Xie Penggen (Non-Executive Director)

Yimin Zhang (Alternative Director for Xie Penggen)

Company Secretary & CFO

Fiona Van Maanen

Key Management

Paul Hucker (Chief Operating Officer - SKO and HGO) Grant Brock (Chief Operating Officer - CMGP)

Allan King (General Manager - Bluestone Mines Tasmania Joint Venture) Michael Poepjes (Chief Mining Engineer)

Jake Russell (Chief Geologist)

Registered Office

Level 3, 18 - 32 Parliament Place West Perth WA 6005

Phone: +61 8 9220 5700

Fax: +61 8 9220 5757

Email: reception@metalsx.com.au Web: www.metalsx.com.au

Postal Address

PO Box 1959

West Perth WA 6872

Securities Exchange

Listed on the Australian Securities Exchange ASX Code: MLX

OTCQX Code: MLXEF

Share Registry

Security Transfer Registrars Pty Ltd 770 Canning Highway

Applecross WA 6153

Phone: 61-8-9315 2333

Fax: 61-8-9315 2233

E-mail: registrar@securitytransfer.com.au

Domicile and Country of Incorporation

Australia

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Appendix 4E - Results For Announcement to the ASX‌

Consolidated

30 June 2016 $

30 June 2015 $

Movement $

Movement %

Revenue from ordinary activities:

352,281,354

315,250,223

37,031,131

11.75%

(Loss)/profit from ordinary activities after tax attributable to members:

(23,624,193)

40,949,201

(64,573,394)

-157.69%

Net (loss)/profit attributable to members:

(23,624,193)

40,949,201

(64,573,394)

-157.69%

Net tangible assets per share:

0.82

0.83

This Appendix 4E is to be read in conjunction with the 2016 Annual Financial Report and Director's Report.

DIVIDEND INFORMATION

The Directors do not propose to pay any dividend for the financial year ended 30 June 2016.

Financial performance

30 June 2016 $

30 June 2015 $

Movement $

Total revenue

352,281,354

315,250,223

37,031,131

Cost of sales

(339,726,697)

(254,907,936)

(84,818,761)

Gross profit

12,554,657

60,342,287

(47,787,630)

Net (loss)/profit after tax

(23,624,193)

40,949,201

(64,573,394)

Cash flows

Cash flow from operating activities

62,040,162

82,813,166

(20,773,004)

Capital reinvestment

Property, plant and equipment

(15,688,911)

(8,005,660)

(7,683,251)

Mine properties and development

(86,476,897)

(43,637,593)

(42,839,304)

Exploration and evaluation expenditure

(26,405,423)

(22,044,782)

(4,360,641)

Financial position

30 June 2016 $

30 June 2015 $

Movement $

Net assets

394,908,333

346,266,574

48,641,759

Cash balance

39,184,787

99,037,845

(59,853,058)

Review of Results: refer to the operating and financial review included in the Director's Report.

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Metals X Limited published this content on 26 August 2016 and is solely responsible for the information contained herein.
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