Core Exploration Ltd:: Half-year Report to 31 December 2016
02.03.2017 | ABN Newswire
Adelaide - The Directors of Core Exploration Ltd. (ASX:CXO) present their Report together with the financial statements of the consolidated entity, being Core Exploration ("Core" or "the Company") and its controlled entities ("the Group") for the half year ended 31 December 2016 and the Independent Review Report.REVIEW OF OPERATIONS AND FINANCIAL RESULTS
Core Exploration Ltd. holds exploration projects comprising prospective tenements in the highly prospective geology in the Northern Territory and world-class mining provinces in South Australia.
The Company's project areas are focused on targets within prospective geological terrains for lithium, base metals and uranium in Northern Territory and South Australia, which host world-class mining operations including Olympic Dam and Four Mile and Beverley uranium mines.
In the half year to 31 December 2016, Core continued its exploration programs at its 100%-owned tenements in the Finniss region in the Northern Territory.
The net loss of the Company, from the six months to 31 December 2016, was $878,544.
During the period, the Company raised $9.0 million through a share placement and share purchase plan to progress the Group's lithium projects.
During the period, the Group issued 1,086,957 Shares upon completion of the agreement to acquire Exploration Licence EL 29698 at the Finniss Lithium Project in the Northern Territory. Further, the Group issued 1,000,000 shares and paid $85,000 as consideration for the acquisition of Exploration Licence EL 31058 in the Northern Territory.
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About Core Exploration Ltd:
Core Exploration Ltd. (ASX:CXO) aims to grow shareholder value through the exploration for and discovery of commercially robust base metal and uranium deposits in South Australia and the Northern Territory. Core Exploration's projects have been carefully acquired in geology which hosts world-class mines and within some of the most prospective geological terrains for base metals and uranium in Australia.
Contact:
Stephen Biggins Managing Director
Core Exploration Ltd.
T: +61-8-7324-2987
E: info@coreexploration.com.au