Quarterly Report and Appendix 5B - 30 June 2015
Released
Released
Announcement PDF
ACTIVITY REPORT FOR THE QUARTER 1 APRIL 2015 TO 30 JUNE 2015
CORPORATE – AUSTRALIA
On 18 June 2015 a General Meeting was held and shareholders approved and ratified the
issue of 2,375,477 shares pursuant to the facility provided by Gurney Capital. This has
provided the Company with the flexibility to issue further equity securities up to 15% of
the issued share capital of the Company over the next 12 months under ASX Listing Rule
7.1.
The board intends to issue additional shares via to finance its operational expenses.
LAKE SURPRISE - AUSTRALIA
Based upon the study conducted by the independent Geologist, Dr Brian Senior and
reported in our last Quarterly, management has applied for the renewal of EL 4949
(formerly EL 3620) and EL 4950 (formerly EL 3622) and relinquished areas as is the
requirement of renewal.
The strategy is to remove areas where the host rocks to sedimentary uranium are absent
(mainly outcropping areas of the Cretaceous Eromanga Basin) and retain areas where
potential uranium in Tertiary quartzose sediments are 10m or more in thickness and
occupy structural downwarps or depressions on the gently folded Eromanga Basin
sequence. In EL 4950 the northern one third has been relinquished. In EL 4949 the
northern and northeastern area has been eliminated along with the eastern sector where
previous drilling has failed to find quartzose sediments in the Flinders Range outwash
fans.
Furthermore our application ELA 2015/00043 has been granted and is now EL 5644.
The attached map details the renewal applications for EL 4949 and 4950 along with the
relinquishment areas and the newly granted EL 5644.
Upon confirmation of the renewal applications for EL 4949 and 4950 management will
then be in a position to discuss with interested parties.
MAP - LAKE SURPRISE
PPA - TAPAN
PPA is still in the process of upgrading the Exploration Tenement of 2053.92 Ha to an
approximately 400 Ha Operation Production Tenement.
LEGAL UPDATE
PPA has lodged an appeal to high court. PPA requests that the Jakarta High Court to
annul the South Jakarta District Court Decission and stating that the Plaintiffs' litigation
to be premature and obscured and therefore inadmissible.
The Plaintiffs has sent a reply to our appeal. Until now the High Court of Jakarta has not
issued its verdict.
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