Quarterly Activities Report - December 2016
31 January 2017
Fast Facts
Capital Structure
Shares on issue 241.3M ASX Code NXR
Directors Hui Zhang Chairman
Tao Ding
Non-Exec Director
Yongjin Li
Non-Exec Director
.
Contacts
Mr Hui Zhang
T: +61 8 9388 2277
www.nemexres.com.au
Nemex Resources Limited (ASX: NXR, Nemex or the Company) reports its activities and corporate developments for the December 2016 Quarter.
INVESTMENT IN SECURITY BIOMETRIC TECHNOLOGYNXR continues to support Wavefront Biometric Technologies Pty Ltd ("Wavefront") in its current technology development and will reassess its position once results are received from further independent validation testing at the International Centre for Biometric Research at Purdue University (Purdue ICBR).
Wavefront have advised that the testing has commenced, including up to 20 live subjects initially and the timeframe for the testing and summary of the results to be completed is within four to six weeks.
During the quarter, Wavefront has undertaken further technology development aimed at improving usability, the speed of the analysis of the captured front-end image, overall improvement in the accuracy of the three modes (iris hue, pattern and cornea) and the application of artificial intelligence to the combination of the modes to give optimal results.
MINERAL INTERESTSNo field activities were undertaken during the quarter and after the end of the quarter, NXR relinquished its remaining mineral project as the results to date make the likelihood of an economic deposit being defined unlikely.
CORPORATEThe Company's ability to raise cash at this time has made the conservation of cash paramount. Accordingly, the Board is carefully assessing options regarding ongoing funding and has agreed to suspend Directors fees until the Company's funding position has improved.
Reinstatement to tradingASX has advised the Company that it will not be re-instated to trading unless and until ASX is comfortable that the Company has an appropriate structure and operations for a listed entity. The Company expects that it will need to have acquired 100% of Wavefront (or 100% of another project that is suitable for a listing on ASX) and re-comply with chapters 1 and 2 of the ASX Listing rules, prior to its securities being reinstated to trading.
The Board continues to assess new investment opportunities, including potential investments in both resource and non-resources related sectors.
Annual General MeetingThe Company's Annual General Meeting was held on 30 November 2016 where the following resolutions were approved.
Resolution 1 - Adoption of Remuneration Report Resolution 2 - Appointment of Tao Ding as a director Resolution 3 - Appointment of Yongjin Li as a director
Resolution 4 - Approval of 10% Placement Capacity was defeated as this was a special resolution and required approval of 75% of the votes cast by Shareholders present and eligible to vote (in person, by proxy, by attorney or, in the case of a corporate Shareholder, by a corporate representative).
For further information about Nemex contact:
Hui Zhang (Director) Nemex Resources Limited P: 08 9388 2277
Addendum to December 2016 Quarterly ReportNXR provides the following addendum in relation to additional information required by Listing Rule 5.3.3.
Mining Tenements held at the end of the quarter and their locationWestern Australia | |
Woodley | |
E57/632 | Granted |
None.
Mining Tenements disposed of during the quarter and their locationNone.
Beneficial percentage interests held in farm-in or farm-out agreements at the end of the quarterFarm-in Agreements
None.
Beneficial percentage interests in farm-in or farm-out agreements acquired or disposed of during the quarterNone.
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
Appendix 5B+Rule 5.5
Mining exploration entity and oil and gas exploration entity quarterly reportIntroduced 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 | ||
NEMEX RESOURCES LIMITED | ||
ABN | Quarter ended ("current quarter") | |
44 146 243 843 | 31 December 2016 |
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 | (1) | (2) |
(a) exploration & evaluation | |||
(b) development | - | - | |
(c) production | - | - | |
(d) staff costs | (13) | (25) | |
(e) administration and corporate costs | (71) | (115) | |
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 | Research and development refunds | - | - |
1.8 | Other (provide details if material) | - | - |
1.9 | Net cash from / (used in) operating activities | (85) | (142) |
- Cash flows from investing activities
Payments to acquire:
property, plant and equipment - -
tenements (see item 10) - -
investments - -
other non-current assets - -
+ See chapter 19 for defined terms
1 September 2016 Page 1
Nemex Resources Limited published this content on 01 February 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 01 February 2017 00:21:05 UTC.
Original documenthttp://nemexres.com.au/sites/4dbe04e850ee853d0e00046d/assets/5891280a50ee8555f1000024/1640336.pdf
Public permalinkhttp://www.publicnow.com/view/0AAB88F6258AE828A2441BD536174EFE5E19D8A0