29 April 2022
ACTIVITIES REPORT FOR QUARTER ENDED 31 MARCH 2022
Coal Projects
The company is continuing to explore alternative technologies to utilise its coal on-site which could produce products such as ammonia, methanol, hydrogen, energy and other products. These technologies look to take advantage of the developing "hydrogen economy". The company's focus is the long term production of energy related products.
In addition to the developing hydrogen economy opportunities, on 15 October 2021, AUH announced it had entered into a non-binding Memorandum of Understanding with Fortress Capital Limited to conduct due diligence on a new technology that could enhance AustChina's energy portfolio through the conversion of solid fuels including coal, municipal household and commercial waste, biomass, and other material to generate cleaner environmentally responsible electricity.
The company has tested its coal from the Blackall coal deposit and another solid commercial waste product and to date is satisfied with the outcomes. The company is continuing with its due diligence with the assistance of Fortress Capital. This process has the potential to reduce carbon emissions and utilise fuel sources such as coal, municipal household and commercial waste that would otherwise go to landfill to produce energy for its own purposes or for sale to the electricity grid.
There were no substantive mining production or development activities undertaken during the quarter. No field activities were scheduled or carried out during the quarter.
Farm-in and Farm-out Arrangements
Beneficial percentage interests held in farm-in or farm-out agreements at end of the quarter - no change from the previous quarter.
Beneficial percentage interests in farm-in or farm-out agreements acquired or disposed of during the quarter - no change from the previous quarter.
AustChina Holdings Limited
ABN 20 075 877 075
Level 16, 344 Queen Brisbane Queensland 4000 GPO Box 762 Brisbane Queensland 4001 Australia T +61 7 3229 6606 info@austchinaholdings.com www.austchinaholdings.com
Tenement Portfolio Update
Tenements held at the end of the quarter and their locations are as follows:
TENEMENT | NAME | HOLDING |
EPC 1719 | Barcoo River/Blackall | 100% |
EPC 1993 | Blackall South Corner | 100% |
CORPORATE ACTIVITIES:
Investment in Utilitas
AustChina holds 25.12% of Queensland, Australia based bioenergy developer Utilitas Group Pty Ltd, and is well positioned in the bioenergy and bioproducts field in Australia. Utilitas and key project counterparts, have advanced Bankable Feasibility Studies on its top three priority projects Bundaberg, Hunter & Dandenong, and continue to add to its future pipeline of projects.
Utilitas continues to lock down commercial aspects of its 3 priority projects (Bundaberg, Dandenong & Hunter).
Support for biogas and related industries continues to strengthen, most recently promoting commercial engagements. A more intensive project funding process will begin upon securing the last few remaining commercial arrangements.
The Bundaberg bioHub development site is now undergoing land development in preparation for several synergistic businesses including Utilitas' Bundaberg project to take up tenancies. Across the site, a Development Approval has been accepted for one of these businesses.
The Dandenong and Hunter projects are shifting forward, engagement with waste aggregators continues, securing more of the project to meet economic viability.
Investment in Revolver Resources Holdings Limited (ASX: RRR)
On 23 September 2021, Sector merged with Dianne Mining Corporation Pty Ltd and listed on the ASX as Revolver Resources Holdings Limited. (Revolver)
Revolver has continued with its exploration of the Dianne Project. The company today reported to ASX that laboratory assay results have been received for the initial holes drilled in the very successful recent 2,994m 17 hole diamond drill campaign.
AUH congratulates Revolver on these results and continues to see long term potential in the copper sector.
AustChina Holdings Limited
ABN 20 075 877 075
Level 16, 344 Queen Brisbane Queensland 4000 GPO Box 762 Brisbane Queensland 4001 Australia T +61 7 3229 6606 info@austchinaholdings.com www.austchinaholdings.com
Payments to Related Parties
A total of $23,000 was paid to directors and their associates for salaries, director fees and superannuation during the quarter ended 31 March 2022.
Authorised by the Board.
Yours faithfully,
Daniel Chan - Chairman
Further information:
Andrew Fogg - Chief Executive Officer
AustChina Holdings Limited
ABN 20 075 877 075
Level 16, 344 Queen Brisbane Queensland 4000 GPO Box 762 Brisbane Queensland 4001 Australia T +61 7 3229 6606 info@austchinaholdings.com www.austchinaholdings.com
Rule 5.5
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
Name of entity
AUSTCHINA HOLDINGS LIMITED
ABN
20 075 877 075
Quarter ended ("current quarter")
31 MARCH 2022
Consolidated statement of cash flows | Current quarter $A'000 | Year to date (9 months) $A'000 |
| - - - - (25) (94) - - - - - (25) 19 | - - - - (73) (401) - - (1) - - (73) 52 |
(125) | (496) |
2.
Cash flows from investing activities
2.1
Payments to acquire:
(a) | entities | - | - |
(b) | tenements | - | - |
(c) | property, plant and equipment | - | - |
(d) | exploration & evaluation (if capitalised) | (22) | (133) |
(e) | investments | - | - |
(f) | other non-current assets | - | - |
Page 1 |
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
Consolidated statement of cash flows | Current quarter $A'000 | Year to date (9 months) $A'000 |
| - - - - - - - - | - - - - - - - - |
(22) | (133) |
| 2,545 - 274 (173) - - - - - | 3,525 - 274 (232) - - - - - |
2,646 | 3,567 |
4. Net increase / (decrease) in cash and cash equivalents for the period | ||
| 830 (125) (22) 2,646 | 391 (496) (133) 3,567 |
Page 2
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AustChina Holdings Limited published this content on 29 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2022 23:07:14 UTC.