Ann: Quarterly Report and Appendix 5B, page-2

Quarterly Report March 2017
Corporate
The Board and its management has been active on both the Exploration Front and ensured that Low
Scale Production with Sales were achieved. The Board intends to continue to undertake all
reasonable steps to ensure that both the exploration and production at our Yerbas Buenas site takes
place.
Quarterly Highlights
1. Acquisition of Freehill Investments Pty Ltd, its Chilean subsidiaries and the associated Yerbas
Buenas Project ,as part of the Company’s IPO fundraising was successfully completed with
the relisting of the Company on the Australian Stock Exchange.
2. All holders of the Group’s Convertible debt converted to shares at the date of the listing
3. Compañia Minera del Pacifico S.A (“CAPS”) re-affirmed, for 2017,its ongoing
commitment to take product from the Yerbas Buenas Project
4. Ground Magnetics and Passive Seismic geophysical survey of the project has
commenced
5. Small scale production from the hard rock resource identified at surface has commenced
and excavation has identified promising magnetite rock
6. A mine plan for the exploitation of the hard rock resource has been developed and
submitted to government authorities for approval.
7. There is active discussion with two overseas customers seeking supply of magnetite ore.