Velpic : Appendix 4E and Annual Report to Shareholders

Appendix 4E Preliminary final report

Rule 4.3A

VELPIC LIMITED

ABN 65 149 197 651

Financial year ended: 30 June 2017

Previous corresponding period: 30 June 2016

Results for announcement to the market

30 June 2017	30 June 2016	Change %
Revenue from continuing operations	2,230,790	1,460,273	53%
Profit/(Loss) from ordinary activities after tax attributable to members	(3,727,375)	(4,655,335)	(20%)
Net profit/ (loss) attributable to members	(3,727,375)	(4,655,335)	(20%)
Dividends (distributions)		Amount per Security	Franked Amount per Security
Final dividend Interim dividend		None	­
Previous corresponding period		None	­
Record date for determining entitlements to the dividend		N/A

Details of individual and total dividends or distributions and dividend or distribution payments

N/A

Details of any dividend or distribution reinvestment plans in operation

N/A

Net tangible assets per security

30/06/2017	30/06/2016
$0.044	$0.024

Details of entities over which control has been gained or lost during the period:

Name of entity	Date of loss of control	Profit/ (loss) after tax of the controlled entities since the date in the current period	Profit/ (loss) after tax of the controlled entities during the whole of the previous corresponding period
Gen Resources Pty Ltd	24 November 2016	­	­
ICX Consuelo 2318 Pty Ltd	24 November 2016	­	­
ICX Consuelo Pty Ltd	24 November 2016	­	­
ICX Don Juan Pty Ltd	24 November 2016	­	­

Details of associates and joint venture entities

N/A

Foreign entities

N/A

Commentary for results of the period

For the year ended 30 June 2017, the Group made a consolidated loss after income tax of $3,727,375 (30 June 2016: $4,655,335). At balance date, the Group had $3,250,134 (30 June 2016: $2,005,712) in cash and

$7,966,036 in net assets. (30 June 2016: $6,122,520).

Velpic strengthened its balance sheet with a successful $5.7 million rights issue (before costs) that received strong support from shareholders at the beginning of the year.

Total revenue reported for the year ended 30 June 2017 was $2,230,790 (30 June 2016: $1,460,273). Revenue from ongoing operational activities totalled $1,781,257. During the year, the Company successfully disposed of its coal project tenements in Queensland, for consideration of $210,000 and lodged its first research and development incentive tax return resulting in other income of $195,680.

Compliance statement

The attached annual report has been prepared in accordance with the Australian Accounting Standards issued by the Australian Accounting Standards Board and are based on accounts that have been audited. A copy of the independent audit report is on page 17 to 20 of the attached annual report

Signed By:

Russell Francis

Chief Executive Officer

Velpic Limited ABN 65 149 197 651 For the financial year ended 30 June 2017 CORPORATE DIRECTORY Directors

Leanne Graham - Non­executive Chairperson Russell Francis - Executive Director

Harry Karelis - Non­executive Director Daniel Rohr - Non­executive Director

Company Secretary Catherine AndersonAuditors

BDO Audit (WA) Pty Ltd 38 Station Street

Subiaco WA 6008

Bankers

Westpac Banking Corporation 116 James Street

Perth WA 6000

Registered Office

243 Hay Street

Subiaco WA 6008

Telephone: [phone]

Share Registry

Link Market Services Central Park

Level 4, 152 St Georges Terrace

Perth WA 6000

Investor Enquiries: 1300 554 474

Stock Exchange Listing

Securities of Velpic Limited are listed on the Australian Securities Exchange. ASX Code: VPC

Web Site:www.velpic.com

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