Mt Malcolm Mines NL : Half Yearly Report to Shareholders

About this update from Mt Malcolm Mines Nl

For personal use only HALF YEARLY REPORT Financial Report for the half-year ended 31 December 2021 Mt Malcolm Mines NL ABN: 78 646 466 435 For personal use only Contents Corporate Directory 3 Director's Report 4 Auditor's Independance Declaration 9 Independent Auditor's Review Report 10 Directors' Declaration 12 Financial Statements Consolidated Statement of Profit or Loss and Other Comprehensive Income 13 Consolidated Statement of Financial Position 14 Consolidated Statement of Changes in Equity 15 Consolidated Statement of Cash Flows 16 Notes to the Consolidated Financial Statements 17 For personal use only Corporate Directory BOARD OF DIRECTORS Trevor Dixon Managing Director Daniel Tuffin Technical Director Robert Downey Non-Executive Chair Gary Powell Non-Executive Director COMPANY SECRETARY Henko Vos REGISTERED OFFICE C/- Nexia Perth Level 3, 88 William Street PERTH WA 6000 Telephone: +61 8 9463 2463 Website: www.nexia.com.au CORPORATE OFFICE Mt Malcolm Mines NL 8 Sarich Court, OSBORNE PARK WA 6019 Telephone: 08 62446617 Website: mtmalcolm.com.au AUDITORS RSM Australia Partners Level 32, Exchange Tower 2 The Esplanade PERTH WA 6000 SHARE REGISTRY Advanced Share Registry Ltd 110 Stirling Hwy NEDLANDS WA 6009 Telephone: +61 8 9389 8033 Facsimile: +61 8 9389 7871 Website:www.advancedshare.com.au SECURITIES EXCHANGE LISTING Mt Malcolm Mines NL shares are listed on the Australian Securities Exchange (ASX Code: M2M) BANKERS National Australia Bank West End - 197 St Georges Terrace PERTH WA 6000 WEBSITE www.mtmalcolm.com.au CORPORATE GOVERNANCE STATEMENT www.mtmalcolm.com.au For personal use only Directors' Report The Directors of Mt Malcolm Mines NL ( "M2M" or "the Company") herewith submit the financial report of the Company and its controlled entities ("Group") for the half year ended 31 December 2021. In order to comply with the provisions of the Corporations Act 2001, the directors report as follows. BOARD OF DIRECTORS The names of the Directors of the Company who have held office during and since the end of the half-year period and until the date of this report are noted below. Directors were in office for the entire period unless otherwise noted. Director Position Trevor Dixon Managing Director Daniel Tuffin Technical Director Robert Downey Non-Executive Chair Gary Powell Non-Executive Director COMPANY SECRETARY Henko Vos PRINCIPAL ACTIVITIES The principal activity of the Group consists of obtaining exploration tenements around the Mt Malcolm region in Western Australia, for the purpose of exploration and potential development of gold. REVIEW OF OPERATIONS AND ACTIVITIES The loss for the period for the Group after providing for income tax amounted to $853,531 (31 December 2020: loss of $2,180,473). On 3 September 2021, the Company completed its initial public offering by issuing 40,000,000 shares at $0.20 each, raising a total of $8,000,000 before costs. Operationally throughout the last 6 months Mt Malcolm Mines NL (M2M) successfully listed on the ASX on 10th September 2021 with a 274km2 landholding within the Tier 1 Leonora Mineral District. Exploration activities commenced post listing at Calypso & Golden Crown with data interpretation and consolidation of historical datasets continuing over the "Malcolm & Mt George Projects" tenement holdings located within 30kms of Leonora in the prospective Central Eastern Goldfields, activities completing during the period include: Page 4 Half-Year Report 31 December 2021 Mt Malcolm Mining NL For personal use only Detailed Gravity survey at the Calypso Prospect, RC Drilling at the Golden Crown Prospect, RC Drilling at the Calypso Prospect. Gold assays were returned during the period for Golden Crown with positive results being displayed in and around the historic workings. Assay results for the RC drill program are shown in Table 1. TABLE 1 Significant intercepts from Golden Crown Hole ID From To (m) Interval Grade (g/t) Intersection (m) Au 21GCRC001 19 20 1 0.54 1m @ 0.54 g/t Au 32 34 2 0.59 2m @ 0.59 g/t Au 37 40 3 11.97 3m @ 11.97 g/t Au including 37 38 1 33.61 1m @ 33.61 g/t Au 21GCRC003 19 21 2 0.92 2m @ 0.92 g/t Au 25 31 7 0.34 7m @ 0.34 g/t Au 62 63 1 0.66 1m @ 0.66 g/t Au 21GCRC004 12 13 1 1.22 1m @ 1.22 g/t Au 14 15 1 0.94 1m @ 0.94 g/t Au 21GCRC005 17 18 1 3.07 1m @ 3.07 g/t Au 21GCRC006 41 42 1 0.34 1m @ 0.34 g/t Au 44 45 1 0.25 1m @ 0.25 g/t Au 21GCRC007 20 28 8 0.51 8m @ 0.51 g/t Au 23 25 2 0.92 2m @ 0.92 g/t Au 30 31 1 0.45 1m @ 0.45 g/t Au 34 35 1 7.06 1m @ 7.06 g/t Au 21GCRC008 16 17 1 0.54 1m @ 0.54 g/t Au 19 24 5 0.44 5m @ 0.44 g/t Au including 21 22 2 0.54 2m @ 0.54 g/t Au 28 32 4 2.99 4m @ 2.99 g/t Au 28 37 10 1.56 10m @ 1.56 g/t Au including 29 30 1 5.78 1m @ 5.78 g/t Au 21GCRC009 16 17 1 1.16 1m @ 1.16 g/t Au 20 24 4 1.46 4m @ 1.46g/t Au including 21 23 2 2.61 2m @ 2.61 g/t Au Half-Year Report 31 December 2021 Page 5 Mt Malcolm Mining NL This is an excerpt of the original content. 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