Sipa Resources : Quarterly Cashflow Report

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

+Rule 5.5

Appendix 5B

Mining exploration entity and oil and gas 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, 01/05/13, 01/09/16

Name of entity

SIPA RESOURCES LIMITED

ABN

Quarter ended ("current quarter")

26 009 448 980 31 December 2017

Consolidated statement of cash flows

Current quarter

$A'000

Year to date (6 months)

$A'000

• 1. Cash flows from operating activities

• 1.1 Receipts from customers

• 1.2 Payments for

  • (a) exploration & evaluation

    (1,082) (1,831)

  • (b) development

  • (c) production

  • (d) staff costs *

    (136) (272)

  • (e) administration and corporate costs

  (220) (348)

• 1.3 Dividends received (see note 3)

• 1.4 Interest received

  8 16

• 1.5 Interest and other costs of finance paid

• 1.6 Income taxes paid

• 1.7 Research and development refunds

• 1.8 Other (provide details if material)( Includes Exploration Incentive Scheme $100k)

  20 121

• 1.9 Net cash from / (used in) operating activities

(1,410)

(2,314)

* Excludes those staff costs allocated to exploration in according with the accounting policy.

2. Cash flows from investing activities

2.1 Payments to acquire:

(a) property, plant and equipment - (3)

• (b) tenements (see item 10)

• (c) investments

(d) other non-current assets - (10)

+ See chapter 19 for defined terms

1 September 2016

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Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Consolidated statement of cash flows

• 2.2 Proceeds from the disposal of:

  • (a) property, plant and equipment

  • (b) tenements (see item 10)

  • (c) investments

  • (d) other non-current assets

• 2.3 Cash flows from loans to other entities

• 2.4 Dividends received (see note 3)

• 2.5 Other (provide details if material)

• 2.6 Net cash from / (used in) investing activities

• 3. Cash flows from financing activities

• 3.1 Proceeds from issues of shares

• 3.2 Proceeds from issue of convertible notes

• 3.3 Proceeds from exercise of share options

• 3.4 Transaction costs related to issues of shares, convertible notes or options

• 3.5 Proceeds from borrowings

• 3.6 Repayment of borrowings

• 3.7 Transaction costs related to loans and borrowings

• 3.8 Dividends paid

• 3.9 Other (provide details if material)

• 3.10 Net cash from / (used in) financing activities

• 4. Net increase / (decrease) in cash and cash equivalents for the period

• 4.1 Cash and cash equivalents at beginning of period

• 4.2 Net cash from / (used in) operating activities (item 1.9 above)

• 4.3 Net cash from / (used in) investing activities (item 2.6 above)

• 4.4 Net cash from / (used in) financing activities (item 3.10 above)

• 4.5 Effect of movement in exchange rates on cash held

• 4.6 Cash and cash equivalents at end of period

Current quarter

$A'000

Year to date (6 months)

$A'000

- (13)

2,000 2,000

(115) (115)

-

-

1,885 1,885

1,407 2,323

(1,410) (2,314)

- (13)

1,885 1,885

(1)

-

1,881

1,881

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Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Consolidated statement of cash flows

5.

Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts

5.1 5.2 5.3 5.4 5.5

Bank balances

81 207

Call deposits Bank overdrafts Other (provide details)

1,800 1,200

Cash and cash equivalents at end of quarter (should equal item 4.6 above)

1,881 1,407

6.

Payments to directors of the entity and their associates

Current quarter

$A'000

6.1 6.2

Aggregate amount of payments to these parties included in item 1.2

128

Aggregate amount of cash flow from loans to these parties included in item 2.3

NIL

6.3 Include below any explanation necessary to understand the transactions included in items 6.1 and 6.2

7.

7.1 7.2

7.3 Include below any explanation necessary to understand the transactions included in items 7.1 and 7.2

8.

Financing facilities available

Add notes as necessary for an understanding of the position

8.1 8.2 8.3 8.4

Loan facilities

Credit standby arrangements Other (please specify)

NIL NIL NIL

Include below a description of each facility above, including the lender, interest rate and whether it is secured or unsecured. If any additional facilities have been entered into or are proposed to be entered into after quarter end, include details of those facilities as well.

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Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

9. Estimated cash outflows for next quarter

$A'000

9.1 Exploration and evaluation 477

• 9.2 Development

• 9.3 Production

9.4 Staff costs 91

9.5 Administration and corporate costs 112

9.6 Other (provide details if material)

9.7 Total estimated cash outflows 680

10. Changes in tenements (items 2.1(b) and 2.2(b) above)Tenement reference and locationNature of interestInterest at beginning of quarter

Interest at end of quarter

• 10.1 Interests in mining tenements and petroleum tenements lapsed, relinquished or reduced

  Nil

• 10.2 Interests in mining tenements and petroleum tenements acquired or increased

E45/5104 TN2659

Application Application

0% 100%

0% 100%

Compliance statement

• 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.

• 2 This statement gives a true and fair view of the matters disclosed.

Sign here:

...

.............

Date: 22 January 2018 .......................

(Company secretary)

Print name: Tara Robson

Notes

• 1. The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position. An entity that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.

• 2. If this quarterly report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.

• 3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.

+ See chapter 19 for defined terms

1 September 2016

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