ASX Release
16 January 2017
Greenvale Energy Limited
Quarterly Activities Report
December 2016
Greenvale Energy Limited (ASX: GRV) is pleased to provide the following update on its activities for the December 2016 quarter (the "Quarter"):
Existing assets
Overview
The interests in the Company's assets are as follows:
Tenement | Status |
Alpha (MDL 330) - (99.99%) | Current to 31 January 2017 (Renewal Pending) |
Madre North (EPM 25795) | Current to 21 December 2019 |
Madre South (EPM 25792) | Current to 2 November 2020 |
Activities
As outlined in the announcement dated 9 January 2017, during the quarter, GRV has finalised its exploration programme and commenced the preliminary stages of the ground survey to be undertaken in January. To this end, GRV has organised the contract surveyor who has been provided with:
lease documents for MDL 330 and EPM 25795;
old topo data and coordinates of all points of observation;
landholders details; and
list of the closest Government survey benchmarks to the area that could be used for future survey reference
In addition, a search for updated topography and cadastral information and permission for land access is also underway.
Full details of the above exploration programme can be found in the announcement dated 9 January 2017.
It is also noted that as set out in the above announcement, GRV is expecting imminent renewal by the Queensland Department of Mines f its licence MDL 330.
Strategic direction and acquisitions
During the quarter, the Board continued to actively assessed potential acquisition opportunities in the exploration sector. An option fee of $50,000 was paid for the right to exclusivity of a certain asset and GRV is currently seeking the necessary regulatory approvals. The Company will make a further announcement as soon as information comes to hand.
Contact details
For further information, please contact:
Vince Fayad
Director and Company Secretary Ph: 0414 752 804
E: vince.fayad@vfassociates.com.au
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, 01/05/2013
Name of entity
GREENVALE ENERGY LIMITED
ABN Quarter ended ("current quarter")
54 000 743 555
31 December 2016
Consolidated statement of cash flows
Cash flows related to operating activities
| Current quarter $A'000 | Year to date (.6months) $A'000 | |
(39) - - (133) - 15 - - - | (93) - - (258) - 16 - - - | ||
(157) | (335) | ||
1.8 1.9 1.10 1.11 1.12 1.13 | Cash flows related to investing activities Payment for purchases of:
Loans repaid by other entities Other (provide details if material) Net investing cash flows Total operating and investing cash flows (carried forward) | - | - |
- | - | ||
- | - | ||
- | - | ||
- | - | ||
- | - | ||
- | - | ||
- | - | ||
(45) | (45) | ||
(45) | (45) | ||
(202) | (380) |
1.13 | Total operating and investing cash flows (brought forward) | (202) | (380) |
Cash flows related to financing activities | - | - | |
1.14 | Proceeds from issues of shares, options, etc. | ||
1.15 | Proceeds from sale of forfeited shares | - | - |
1.16 | Proceeds from borrowings | - | - |
1.17 | Repayment of borrowings | - | - |
1.18 | Dividends paid | - | - |
1.19 | Other (provide details if material) | - | - |
Net financing cash flows | - | - | |
Net increase (decrease) in cash held | (202) | (380) | |
1.20 | Cash at beginning of quarter/year to date | 2,343 | 2,521 |
1.21 | Exchange rate adjustments to item 1.20 | - | - |
1.22 | Cash at end of quarter | 2,141 | 2,141 |
Payments to directors of the entity, associates of the directors, related entities of the entity and associates of the related entities
Current quarter
$A'000
Aggregate amount of payments to the parties included in item 1.2 48
Aggregate amount of loans to the parties included in item 1.10 -
Explanation necessary for an understanding of the transactions
1.12 - The other relates to the payment of an exclusivity fee - refer to the Quarterly Activities statement.
Non-cash financing and investing activities
2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows
N/A
Greenvale Energy Ltd. published this content on 16 January 2017 and is solely responsible for the information contained herein.
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