26 April 2022
Quarterly Activities Report 31 March 2022
Tyranna Resources Ltd (Tyranna or the Company) provides shareholders its quarterly report for the three-month period ending 31 March 2022.
WA NICKEL PROJECTS
The Company has not progressed the next stage of exploration during the quarter due to the difficulties in accessing suitable geological expertise and planning for the next round of activities. The Company is focused on developing an effective strategy to explore the projects with a dedicated team in place to drive performance and cost effectively run the exploration program. Assessment of historical work undertaken and identification of the next steps prior to any drilling being undertaken is the key priority for the Board.
Weebo Gold Project
The Company sees potential in further exploration at the Weebo Gold Project. From the limited work undertaken at this point there are some immediate areas that require further investigation and the Company may look at detailed geophysics to identify potential drilling targets in the northern portion of the project area. There is a general lack of drilling on the prospects and the Company will focus on developing a systematic strategy to further investigate the potential as soon as possible.
OTHER PROJECTS
Pacific Express Ni Project
Tyranna did not undertake any work program on this project during the quarter.
The project, located in northern NSW comprises a single licence (EL8733) for ~ 108 km. The area is prospective for lateritic Ni-Co mineralisation. Historical exploration has defined several target areas which require further investigation.
CORPORATE
Financial Snapshot
The Company's net cashflow used in operations for the quarter was $117k. The operational expenses mainly comprised of Exploration and Evaluation expenditure ($13k) and Administration and corporate costs ($104k).
The Company's cash position at the of the quarter is $2,029k.
Level 3, 101 St Georges Terrace, PERTH WA 6000 | GPO Box 2704, PERTH WA 6001
T +61 6558 0886 | F +61 8 6316 3337 | Einfo@tyrannaresources.com| W tyrannaresources.com
ASX TYX | ABN 79 124 990 405
Listing Rule 5.4.5
In item 6 of the attached Appendix 5B, payments to related parties of approximately $30k comprising of director remuneration ($20k), bookkeeping ($5k), and serviced office ($5k) were paid during the quarter.
Authorised by the Board of Tyranna Resources Ltd
Joe Graziano
Director
Appendix 1: Mining Tenements as at 31 March 2022
Western Australia Tenement Schedule | ||||
Exploration License No | Tenement Name | Registered Holder | Interest at Beginning of Qtr | Interest at End of Qtr |
E37/1353 | Weebo | Tyranna Resources Ltd | 100% | 100% |
E37/1342 | Weebo | Tyranna Resources Ltd | 100% | 100% |
E37/1366 | Knight | Clean Power Resources Pty Ltd | 100% | 100% |
E29/1034 | Dragon | Clean Power Resources Pty Ltd | 100% | 100% |
New South Wales Tenement Schedule | ||||
Exploration License No | Tenement Name | Registered Holder | Interest at Beginning of Qtr | Interest at End of Qtr |
EL8733 | Pacific Express | Clean Power Resources Pty Ltd | 100% | 100% |
Rule 5.5
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
Name of entity
TYRANNA RESOURCES LIMITEDABN
79 124 990 405
Quarter ended ("current quarter")
31 March 2022
Consolidated statement of cash flows | Current quarter $A'000 | Year to date (9 months) $A'000 |
| (13) - - - (104) - - - - - - | (325) - - - (465) - - - - - - |
(117) | (790) |
2. 2.1
Cash flows from investing activities Payments to acquire or for:
(a) | entities | - | - |
(b) | tenements | - | - |
(c) | property, plant and equipment | - | - |
(d) | exploration & evaluation | - | - |
(e) | investments | - | - |
(f) | other non-current assets | - | - |
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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 |
| - - - - - - - - | - 2,400 - - - - - - |
- | 2,400 |
| - - - - - - - - - | - - - - - - - - - |
- | - |
4. Net increase / (decrease) in cash and cash equivalents for the period | ||
| 2,146 (117) - - | 419 (790) 2,400 - |
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Tyranna Resources Limited published this content on 25 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 April 2022 22:49:03 UTC.