Boadicea Resources : BOA Financial Accounts for the HY ended 31 Dec 2021

For personal use only

Boadicea Resources Ltd

ACN 149 582 687

Condensed Half-year Financial Report 31 December 2021

For personal use only

Boadicea Resources Ltd

Contents

31 December 2021

Corporate directory	2
Directors' report	3
Review of operations	4
Auditor's independence declaration	13
Statement of profit or loss and other comprehensive income	14
Statement of financial position	15
Statement of changes in equity	16
Statement of cash flows	17
Notes to the financial statements	18
Directors' declaration	22
Independent auditor's review report to the members of Boadicea Resources Ltd	23

General information

The financial statements cover Boadicea Resources Ltd as a Company at the end of, or during the half-year. The financial statements are presented in Australian dollars, which is Boadicea Resources Ltd's functional and presentation currency.

Boadicea Resources Ltd is a listed public company limited by shares, incorporated and domiciled in Australia. Its registered office and principal place of business is:

Suite 2

39A Glenferrie Road

Malvern, VIC 3144

A description of the nature of the Company's operations and its principal activities are included in the Directors' report, which is not part of the financial statements.

The financial statements were authorised for issue, in accordance with a resolution of Directors, on 4 March 2022. The Directors have the power to amend and reissue the financial statements.

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For personal use only

Boadicea Resources Ltd Corporate directory

31 December 2021

Directors

Company secretary

Registered office

Share register

Auditor

Stock exchange listing

Website

Email

Jonathan Reynolds (Managing Director)

Domenic De Marco (Chairman)

Graeme Purcell (Non-Executive Director)

James Barrie

Suite 2

39A Glenferrie Road

Malvern, VIC 3144

Automic Pty Ltd

Level 5, 126 Phillip Street

Sydney, NSW 2000

Connect National Audit Pty Ltd

Level 8, 350 Collins Street

Melbourne, VIC 3000

Boadicea Resources Ltd shares (ASX code: BOA) and options (ASX code: BOAOA) are listed on the Australian Securities Exchange

https://www.boadicea.net.au

[e-mail]

2

For personal use only

Boadicea Resources Ltd Directors' report

31 December 2021

The Directors present their report, together with the financial statements, on the Company for the half-year ended 31 December 2021.

Directors

The following persons were Directors of the Company during the whole of the financial half-year and up to the date of this report, unless otherwise stated:

Jonathan Reynolds

Steven Moon (resigned 24 February 2022) Domenic De Marco

Graeme Purcell

Principal activities

During the financial half-year, the principal continuing activities of the Company consisted of pursuing exploration activities on its tenements.

Dividends

Dividends paid during the financial half-year were as follows:

	Dec 2021			Dec 2020
$		$
Unfranked special dividend of 8 cents per share to all shareholders	-	4,447,660

Review of operations

The loss for the Company after providing for income tax amounted to $451,770 (31 December 2020: profit of $3,238,687).

Refer to the separate review of operations that directly follows this Directors' report.

Significant changes in the state of affairs

There were no significant changes in the state of affairs of the Company during the financial half-year.

Auditor's independence declaration

A copy of the auditor's independence declaration as required under section 307C of the Corporations Act 2001 is set out immediately after this Directors' report.

This report is made in accordance with a resolution of Directors, pursuant to section 306(3)(a) of the Corporations Act 2001.

On behalf of the Directors

___________________________

Jonathan Reynolds

Managing Director

4 March 2022

Melbourne

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Boadicea Resources Ltd Review of operations 31 December 2021

PROJECT PORTFOLIO OVERVIEW

For personal use only

As of 31 December 2021, Boadicea held 18 granted tenements, all located within the highly prospective and favourable regions of Western Australian and Queensland. The company has exposure to nickel exploration in the Fraser Range of WA, gold-copper in the Paterson Province, lithium in Eastern Goldfield of Western Australia and gold in the Charters Towers / Drummond Basin areas of Queensland (see Figure 1). BOA granted exploration licences cover a total area of 1,744km2 and are listed below:

Fraser Range, Western Australia

• Symons Hill (E28/1932) - nickel and copper (100% BOA) *
• Fraser South (E63/1859) - nickel and copper (100% BOA)
• White Knight (E28/2721) - nickel and copper (100% BOA) *
• Southern Hills (E63/1951) - nickel and copper (100% BOA)
• Transline North (E28/2849) - nickel and copper (100% BOA) *
• Transline South (E28/2866) - nickel and copper (100% BOA) *
• Transline West 1 (E28/2888) - nickel and copper (100% BOA) *
• Transline West 2 (E28/2895) - nickel and copper (100% BOA) *
• South Plumridge (E28/2937) - nickel and copper (100% BOA) *
• Giles South (E28/2952) - nickel and copper (100% BOA) *
• Giles (E39/2148) - nickel and copper (100% BOA) *

Paterson Province, Western Australia

• Koongulla (E45/5392) - gold and copper (95% BOA)
• Koongulla North (E45/5818) - gold and copper (100% BOA):
• Koongulla East (E45/5866) - gold and copper (100% BOA):

Drummond Basin

• Clarke Reward (EPM27834) - gold (95% BOA)

Charters Towers Province

• Southwest Ravenswood (EPM27752) - gold (100% BOA):

Eastern Goldfields

• Wildara (E36/873) - lithium and gold (100% BOA)
• Bald Hill East (E15/1608) - lithium (100% BOA) &

A further 8 licences remain in application phase, with two applications being subject to a ballot.

* Managed by IGO Newsearch

• Acquired from Abeh Pty Ltd in Feb 2022

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