More annual reports from Auriant Mining:
2023 ReportAURIS MINERALS LIMITED
ANNUAL REPORT
30 JUNE 2022
ABN 77 085 806 284
DIRECTORS
Neville Bassett
Craig Hall
Mike Hendriks
Non-Executive Chair
Non-Executive Director
Managing Director
COMPANY SECRETARY
Chris Achurch
AUSTRALIAN BUSINESS NUMBER
77 085 806 284
REGISTERED AND PRINCIPAL OFFICE
Level 3, 18 Richardson Street
West Perth, Western Australia 6005
PO Box 298
West Perth, Western Australia 6872
Telephone: (+61-8) 6109 4333
Email: general@aurisminerals.com.au
Website: www.aurisminerals.com.au
SHARE REGISTRY
Automic Pty Ltd
Level 5, 191 St George’s Terrace
Perth, Western Australia 6000
Telephone (+61-8) 9324 2099
Email: hello@automic.com.au
Website: www.automicgroup.com.au
AUDITORS
Elderton Audit Pty Ltd
Level 2, 267 St Georges Terrace
Perth, Western Australia 6000
AUSTRALIAN SECURITIES EXCHANGE
Level 40, Central Park
152-158 St Georges Terrace
Perth, Western Australia 6000
ASX CODES
Ordinary Shares: AUR
Options: AURO
Auris Minerals Limited I 2022 ANNUAL REPORT
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CONTENTS
Chair’s Letter
Directors’ Report
Schedule of Mining Tenements
Additional Shareholder Information
Auditor’s Independence Declaration
Consolidated Statement of Profit or Loss and Other Comprehensive Income
Consolidated Statement of Financial Position
Consolidated Statement of Changes in Equity
Consolidated Statement of Cashflows
Notes to the Consolidated Financial Reports
Directors’ Declaration
Independent Auditor’s Review Report
3
4
29
31
35
36
37
38
39
40
61
62
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CHAIR’S LETTER
Dear valued Shareholder,
I am pleased to present you with the Auris Minerals Annual Report for the financial year ended 30 June 2022
(“FY 2022”).
Over the past 12 months, Auris has maintained its focused and targeted approach to exploring our strategic
1,385km² portfolio in the Bryah Basin of Western Australia.
Much of our exploration work during the year concentrated on our Feather Cap and Forrest Projects respectively,
where we continued to improve our technical understanding of these assets in our pursuit to unlock much larger,
economic mineralised systems.
Initial Air Core drilling at the Durack East gold target within Feather Cap returned a range of pleasing high-grade
intersections. These results further confirmed the extension of gold mineralisation from the Morck Well Project
to the east, into the Feather Cap Project. A maiden RC drilling programme was subsequently completed at
Durack East designed to further evaluate this high-grade gold mineralisation. This RC programme demonstrated
the potential for two mineralised structures which further supports our view that a larger mineralised strike of
around 6.2km exists between the Morck Well and Feather Cap Projects.
Drilling was also completed at the Forrest Copper Project to further evaluate regional targets outside existing
JORC resource of 2.4 Mt @ 1.7% Cu for 41,500t Cu metal. Results from this drilling highlighted a new copper-
gold target comprising the Robinson Range Formation sediments. Further evaluation of the available data is
now being undertaken to refine our next phase of work at Forrest.
We continued to work closely with our exploration JV partner Sandfire Resources (ASX: SFR) during the year,
and a key highlight for the JV was the recent completion of successful 1.2km diamond hole at the Citra Prospect
at Morck Well, with initial observations highlighting previously uncharted DeGrussa formation sediments. This is
an exciting development for the JV and assays and DHEM for this hole are pending and further details on follow-
up drilling will be provided in due course.
Post year end, Sandfire gave formal notice to withdraw from the respective Cheroona and Cashmans Joint
Ventures. We thank Sandfire for their efforts on these tenements and our technical team is currently in the
process of reviewing all technical data on these projects to determine our next steps.
As we have always done, your Board continues to take a conservative approach towards operating costs, and
we are currently reviewing our costs across the entire business. This includes reviewing potential rationalisation
opportunities within our portfolio without comprising our exploration progress in the Bryah Basin.
From a funding perspective, we completed a $2.38 million Entitlement Issue in November 2021 which has
ensured our healthy cash position. I would like to thank our corporate advisors Lazarus Corporate Finance and
our loyal shareholders for their support in raising this capital.
While the effects of the global pandemic continued to be felt and capital market conditions deteriorated
somewhat earlier this year, Auris remains well capitalised entering the new financial year. Importantly, our strong
cash position for a junior explorer ensures we have the flexibility to assess other value accretive projects and
act quickly should a compelling opportunity arise.
The Company looks forward to providing you with further updates as our exploration programmes advance in
the Bryah Basin and as we continue to assess new opportunities for your company. I thank you for your
continued support.
Yours sincerely,
NEVILLE BASSETT
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DIRECTORS’ REPORT
The directors present their report together with the financial report of Auris Minerals Limited (the Company or
Auris), for the year ended 30 June 2022 and the auditor’s report thereon.
1. Directors and officers
Directors
The directors of the Company at any time during or since the end of the financial year are:
Name
Period of Directorship
Mr Neville Bassett – Non-Executive Chair
Appointed 20 April 2018
Mr Craig Hall – Non-Executive Director
Appointed 1 August 2018
Mr Mike Hendriks – Managing Director
Appointed 20 November 2020
The qualifications, experience, interest in shares and options, and other directorships of the directors in office
at the date of this report and during the financial year are:
Current Directors
Neville Bassett
Non-Executive Chair
Experience and expertise
Mr Bassett is a Chartered Accountant specialising in corporate, financial
and management advisory services. He has been involved with numerous
public company listings and capital raisings, mergers and acquisitions and
maintains significant knowledge and exposure to the Australian financial
markets. He has a wealth of experience in matters pertaining to the
Corporations Act, ASX listing requirements, corporate taxation and finance.
Mr Bassett is a Fellow of Chartered Accountants Australia and New
Zealand. He was a Director/Councillor of the Royal Flying Doctor Service in
Western Australia for 26 years, serving 8 years as Chairman before his
retirement
in 2017. He served 6 years as Western Operations
representative on the National Board of the Australian Council of the Royal
Flying Doctor Service of Australia. Mr Bassett was awarded a Member of
the Order of Australia (AM) in the 2015 Australia Day Honours.
Interest in Shares and Options 1,100,000 ordinary shares and 1,100,000 options in Auris Minerals Ltd.
Listed company directorships
in last three years
Currently a Non-Executive Director of Pointerra Limited (ASX: 3DP), Auris
Minerals Ltd (ASX: AUR), Pharmaust Ltd (ASX: PAA), Tennant Minerals
Ltd (ASX: TMS) and Bulletin Resources Ltd (ASX: BNR). Previously a Non-
Executive Director of Zeotech Ltd and Yowie Group Ltd.
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DIRECTORS’ REPORT
Craig Hall
Non-Executive Director
Experience and expertise
Mr Craig Hall is an experienced geologist with over 30 years of minerals
industry experience in exploration, development and production roles in a
range of commodities, principally precious and base metals. He has held a
variety of senior positions with mid-tier and junior sector resource
companies within Australia and overseas. He has previously consulted to
the minerals industry providing high quality exploration outcomes, on-site
mining support, expert reporting, project valuations and strategic advice to
through an association with a well-respected Western
companies
Australian resource consultancy.
Interest in Shares and Options Nil
Listed company directorships
in last three years
Mr Hall is currently a Non-Executive Director of Horseshoe Metals Ltd (ASX:
HOR). Previously a Non-Executive Director of Eclipse Metals Ltd, Target
Energy Ltd, Redbank Copper Ltd and Scorpion Minerals Ltd (ASX: SCN).
Mike Hendriks
Managing Director
Experience and expertise
Mr Hendriks has gained extensive experience in the financial services
sector in various roles in investment banking, accounting and stockbroking
industries. He also has extensive management skills gained through
various roles as a company director and secretary holding executive and
non-executive directorships and senior positions of ASX listed and private
companies in the industrial and resource sectors.
Mr Hendriks graduated from Curtin University with a BBus, he is a
Chartered Accountant and member of the Australian Institute of Company
Directors.
Interest in Shares and Options 500,000 ordinary shares and 500,000 options in Auris Minerals Ltd.
Listed company directorships
in last three years
Previously Non-Executive Director and Company Secretary of Vector
Resources Limited (ASX: VEC) which is currently in liquidation.
Company Secretary
Mr Chris Achurch holds the position of Company Secretary, having been appointed on 20 November 2020. Mr
Achurch spent 10 years in public practice in the Audit and Assurance division with RSM Australia, based in
Perth, Dallas and New York and 2.5 years as CFO and Joint Company Secretary at Kalium Lakes Limited. Mr
Achurch provides company secretarial, corporate advisory and general consulting services to a number of ASX
listed clients.
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DIRECTORS’ REPORT
2. Corporate activity summary
Fully underwritten Entitlement Issue raises $2.38M
In November 2021, Auris advised that the fully underwritten pro-rata non-renounceable Options Entitlement
Offer to raise approximately $2.38 million (see ASX release dated 19 October 2021) had closed. Under the
terms of the Entitlement Offer, Eligible Shareholders were entitled to apply for one (1) new option at an issue
price of $0.005 for every one (1) existing fully paid ordinary share held on the Record Date (New Option). The
New Options are exercisable at $0.08 each on or before 30 November 2023.
The Entitlement Issue was fully underwritten by Lazarus Corporate Finance Pty Ltd (Underwriter). The Company
received applications under the Entitlement Offer (including additional applications) totalling 197,771,924 New
Options amounting to total subscriptions of $988,859.86.
The Shortfall pursuant to the Entitlement Offer was 278,854,033 New Options, raising $1,394,270.17 before
costs and was issued in accordance with the Underwriting Agreement between the Company and Lazarus
Corporate Finance Pty, as described in the Prospectus lodged by the Company on 19 October 2021.
The Board thanks all shareholders and the Lead Manager and Underwriter, Lazarus Corporate Finance for their
continued support of the Company and its exploration plans.
Cash Position
At 30 June 2022 Auris maintained a healthy cash position of A$3.57M, allowing the Company to advance its
Bryah Basin exploration strategy, whilst also assessing new strategic project opportunities that align with the
Company’s current focus on gold and copper exploration.
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DIRECTORS’ REPORT
3. Directors’ Meetings
Formal meetings of the directors of the Company during the financial year are tabled as follows:
Director
Neville Bassett
Craig Hall
Mike Hendriks
Meetings eligible to attend
Meetings attended
7
7
7
7
7
7
4. Principal Activities and Review of Operations
Review of Financial Condition
The Group recorded a loss of $1,591,090 for the year ended 30 June 2022 (2021: loss of $2,312,605). The loss
includes $828,281 (2021: $1,558,554) impairment adjustment for exploration and evaluation expenditure.
As at 30 June 2022, the Group had net working capital of $3,502,991 (2021: $3,098,605). The Group’s net asset
position was $24,654,669 (2021: $24,059,689).
Exploration Activity and Highlights
Auris Minerals Limited (Auris) is primarily exploring for high grade gold and copper-gold deposits in the highly
prospective Bryah Basin region of Western Australia.
Significant exploration activities during the 2022 financial year included the following:
• Continued exploration by Sandfire within Morck Well, Cashman and Cheroona JV’s comprising 52 Air
Core holes for 3,285 metres, 2 RC holes for 327metres, 2 Diamond holes for 1,918.9 metres, DHEM
surveys and moving loop EM surveys.
• Significant gold mineralised trend requiring further follow up drilling at the Durack East prospects within
the Feather Cap project, (81 Air Core drill holes for 6,632m and 4 RC holes for 709m).
• Significant gold and copper intersections within Air core drilling completed at the Forrest Project.
Highlighting the period were the return of significant copper results from follow up RC drilling and visual copper
mineralisation within diamond drilling completed by Sandfire within the Morck Well JV.
Exploration Portfolio
Auris is exploring for base metals and gold in the Bryah Basin of Western Australia. Auris has consolidated a
tenement portfolio of 1,385km², which is divided into eight well-defined project areas: Forrest, Cashman,
Cheroona, Doolgunna, Morck Well, Feather Cap, Milgun and Horseshoe Well, (Figure 1).
In February 2018, Auris entered a Farm-in Agreement with Sandfire in relation to the Morck Well and Doolgunna
Projects which covers ~430km² (the Morck Well JV). During September 2019, Auris entered into a Farm-in with
Sandfire in relation to the Cashman Project tenements, E51/1053 and E51/1120, (the Cashman JV). On 4
February 2020 Auris and Northern Star Resources Limited (NST) entered into a Farm-in with Sandfire in relation
to the Cheroona Project tenements, E51/1391, E51/1837 and E51/1838, (the Cheroona JV). Sandfire has the
right to earn a 70% interest in each of above projects upon completion of a Feasibility Study on a discovery of
not less than 50,000t contained copper (or metal equivalent) on the project. Auris manages exploration on all
other tenements, including those that are subject to arrangements with third parties.
Sandfire provided formal notice of their withdrawal from the Cheroona and Cashman farm in agreements,
effective 4 August 2022.
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DIRECTORS’ REPORT
Figure 1: Auris' copper-gold exploration tenement portfolio, with Sandfire (SFR), Northern Star (NST), Westgold
(WGX), Fe Ltd and Gateway JV areas indicated
Notes:
1. The Forrest Project tenements E52/1659 and E52/1671 have the following outside interests:
•
Auris 80%; Westgold Resources Ltd 20% (ASX:WGX). Westgold Resources Ltd interest is free carried until a Decision to
Mine
• Westgold Resources Ltd own the gold rights over the Auris interest.
2. The Forrest Project tenement P52/1493 have the following outside interests:
• Westgold Resources Ltd own the gold rights over the Auris interest.
3. The Forrest Project tenements P52/1494-1496 have the following outside interests:
•
Auris 80%; Fe Ltd 20% (ASX:FEL). Fe Ltd interest is free carried until a Decision to Mine
4. The Cheroona Project tenements E51/1391, E51/1837-38 have the following outside interests:
•
Auris 70%; Northern Star Resources Ltd 30% (ASX:NST)
5. The Horseshoe Well Project tenement E52/3291 has the following outside interests:
•
Auris 85%; Gateway Projects WA Pty Ltd (formerly OMNI Projects Pty Ltd) 15% (Gateway Projects free carried until a
Decision to Mine)
6. The Milgun Project tenement E52/3248 has the following outside interests:
•
Auris 85%; Gateway Projects WA Pty Ltd (formerly OMNI Projects Pty Ltd) 15% (Gateway Projects free carried until a
Decision to Mine)
7. The Morck Well Project tenements E51/1033, E52/1613 and E52/1672 have the following outside interests:
a. Auris 80%; Fe Ltd 20% (ASX:FEL). Fe Ltd interest is free carried until a Decision to Mine
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DIRECTORS’ REPORT
Exploration Strategy
Auris’ exploration strategy is summarised as follows:
• Focus attention on unlocking the value of the current tenement package in the Bryah Basin;
• Assess new strategic project opportunities as they arise;
• Target multiple Au and Cu-Au deposits;
• Develop the best regional geological control possible (to provide context), by means of published
maps, airborne geophysics (magnetics,radiometrics & EM) , ground gravity, lithogeochemical analysis
and field mapping;
• Commitment to drill exploration targets as soon as possible after definition;
• Sell, JV or relinquish tenements that no longer fit with the company’s exploration strategy;
• Adhere to highest technical standards in all activities.
Review of Operations
Auris Managed Projects
FEATHER CAP
Project Summary
The Feather Cap Project is 100% Auris and includes tenement E52/1910 which hosts both the Feather Cap and
Durack East gold prospects.
Drilling
A total of 76 Air Core drill holes were completed for 6,151 metres within the Feather Cap Project, at the Durack
East Prospect (Refer ASX Announcement 29 September 2021). Drilling was designed to evaluate the potential
for strike extensions to significant gold mineralisation highlighted by previous drilling along strike to the east and
west.
Significant results returned from the drilling programme included (see ASX releases dated 13 October 2021 and
7 February 2022):
• 8m @ 4.49g/t Au from 87m, including 2m @ 14.8g/t Au from 87m (DEAC0089)
• 5m @ 2.21g.t Au from 87m (DEAC0075)
The high-grade intercepts within DEAC0089 of 8m @ 4.49g/t Au from 87m including 2m @ 14.8g/t Au from
87m and DEAC0075 of 5m @ 2.21g/t Au from 87m are associated with quartz veining within mafic lithologies
of the Narracoota Formation, to the south of an interpreted contact with sediments of the Ravelstone Formation.
A total of 4 holes for 709m (DERC0001 – DERC0004, Refer ASX Announcement 25 January 2022), were
completed to further evaluate high-grade gold mineralisation received within DEAC0075 and DEAC0089 from
previously completed Air Core drilling.
Significant results returned from this maiden RC drilling programme include 1m @ 2.37g/t Au from 32m within
DERC0002 and 5m @ 1.87g/t Au from 30m within DERC0003 (5m composite).
An additional five holes (DEAC0104-0108) for 481m were completed at the Durack East Gold Prospect within
the Feather Cap Project, (Refer ASX Announcement 24 March 2022) to further understand the controls of the
mineralisation at the Durack East prospect.
All significant results returned from the recent Air Core drilling at the Durack East Prospect are tabulated below
in Table 1.
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DIRECTORS’ REPORT
Table 1: Durack East Prospect Significant Air Core Drilling Intersections
Hole ID
DEAC0105
DEAC0106
DEAC0108
From
(m)
65
92
100
30
To
(m)
70
93
105
35
Interval
(m)
5
1
5
5
Intersection
Cu
Au
Zn
Pb
(ppm)
(ppm)
(ppm)
(ppm)
69.8
154.5
71.9
80.5
0.55
0.67
0.60
0.18
1
4.8
3.6
4
78
88
67
7
The anomalous gold result within DEAC0105 of 5m @ 0.55g/t Au from 65m is interpreted to be located 20m
up dip of the high-grade mineralisation intersected within DEAC0089 (8m @ 4.49g/t Au from 87m, including 2m
@ 14.8g/t Au from 87m), within mafic lower saprolite of the Narracoota Formation.
The significant intersection of 5m @ 0.60g/t Au from 100m within DEAC0106 is located approximately 10m
down dip from the significant intersection within DEAC0075 (5m @ 2.21g.t Au from 87m) within mafic lower
saprolite of the Narracoota Formation.
Figure 2 – Durack East Geology and Drilling
From the drilling completed to date at the Durack East Prospect it is interpreted that the gold mineralised zones
are sub vertical to steeply southerly dipping. The results from the recent RC and Air Core drilling completed by
Auris has indicated that the high-grade mineralisation within the previous Air Core Drilling and historical RAB
drilling are potentially a result of gold enrichment along the mineralised structures at favourable regolith
boundaries.
Auris is currently considering additional infill Air Core drilling to further evaluate the mineralised trend for high-
grade gold mineralisation.
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DIRECTORS’ REPORT
FORREST
Project Summary
The Forrest Project includes tenements E52/1659 and E52/1671, which host the Wodger and Forrest deposits
respectively and fall under an agreement with Westgold Resources Limited (“WGX”) whereby WGX own all gold
rights and a 20% free carried interest until a decision to mine for all copper rights.
The Forrest Copper Project contains an existing JORC Resource of 2.4 Mt @ 1.7% Cu for 41,500t copper
metal.
Air Core Drilling
A total of 60 Air Core drill holes were completed (FTAC0001-0060, Refer ASX Announcement 24 March 2022)
for approximately 4,186m to further evaluate select regional targets located outside of the existing JORC
resource, (Refer ASX Announcement 2 July 2021).
Regional targets tested within the Forrest Copper Project comprised:
• Significant copper/gold drill intercepts within previous Air Core drilling,
• Chargeability/conductivity targets identified by previously completed IP surveying; and/or
• Structural targets with similarities to the DeGrussa Copper Deposit.
All significant results returned from the recent Air Core drilling at the Forrest Project are tabulated below in Table
2, (Refer ASX Announcement 11 May 2022).
Table 2: Forrest Project Significant Copper/Gold Air Core Drilling Intersections
Hole ID
FTAC0021
FTAC0037
FTAC0038
FTAC0047
FTAC0050
FTAC0051
FTAC0053
FTAC0054
FTAC0054
From
(m)
To
(m)
Interval
(m)
Intersection
Cu
Au
Zn
Pb
(ppm)
(ppm)
(ppm)
(ppm)
45
55
36
25
40
10
34
50
10
20
30
50
60
45
30
46
15
40
55
15
25
35
5
5
9
5
6
5
6
5
5
5
5
1800
1160
1077
12.8
330.5
294
1563
18
131
51.2
131
<0.01
<0.01
<0.01
0.17
0.34
0.15
0.05
0.144
0.56
0.626
0.202
34.3
52.9
9.5
5.7
25.6
6
45
3.1
5.9
4
4.9
221
173
91
163
86
22
230
103
85
96
95
An encouraging copper result of 5m @ 0.18% Cu from 45m was returned within FTAC0021 (refer Figure 3),
north of the Forrest Resource. The drill hole was part of the drill line designed to initially evaluate IP Target 2,
which is located 800m to the north of the Forrest Deposit. The copper mineralisation within FTAC0021 is
associated with sediments of the Robinson Range Formation and remains open to the north and south for 500
metres.
Additional encouraging copper results were returned within drill holes, FTAC0037 and FTAC0038, comprising
5m @ 0.12% Cu from 55m and 9m @ 0.11% Cu from 36m respectively. Both copper intersections are also
associated with Robinson Range Formation sediments, located 200m along strike to the south of previously
returned mineralisation within drilling of 8m @ 0.20% Cu from 45m, (WRAC182).
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DIRECTORS’ REPORT
Significant gold results of 5m @ 0.56g/t Au from 10m and 5m @ 0.63g/t Au from 20m were returned within
FTAC0054, located 200m south of previous Air Core drilling anomalism of 4m @ 0.49g/t Au and 0.81% Cu from
16m within WRAC155. The above gold anomalism is located within E52/1659 where Westgold Resources have
100% of the gold rights. The gold anomalism however remains open to the southeast along strike for
approximately 1km, potentially trending into tenure (P52/1495) which AUR have an 80% interest in the gold
rights.
An anomalous copper result of 6m @ 0.16% Cu from 34m was intersected 100m to the west of WRAC155.
within FTAC0051.
Results from the completed Air Core drilling highlight a new copper/gold target within the Forrest Project
comprising the Robinson Range Formation sediments and their contact with the underlying Ravelstone
Formation. To date the Robinson Range Formation and the associated contact with has been sporadically
tested along the 11km of strike which trends through the project.
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DIRECTORS’ REPORT
Figure 3 - Forrest Project Summary Geology, Chargeability Model Slice (350mRL) and Drilling, with significant
2022 results highlighted in red.
(Refer ASX announcement 5 December 2018 – WRAC155 and WRAC182 results)
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DIRECTORS’ REPORT
Morck Well JV (Managed by Sandfire Resources Ltd)
Project Summary
In February 2018, Auris entered a Farm-in Agreement with SFR in relation to the Morck Well and Doolgunna
Projects which covers ~430km². The Morck Well and Doolgunna Projects are strategically located 22km to the
south-west and 4km to the southeast respectively, of Sandfire’s DeGrussa Copper Mine in Western Australia.
The Morck Well project is also located 8km along strike from Sandfire’s Old Highway gold deposit with
comparable high-grade gold mineralisation being intersected associated within similar geology within completed
regional Air Core drilling.
Air Core Drilling
Regional Air Core drilling was completed within the Doolgunna Project, with a total of 37 holes (MWAC4205 –
MWAC4241) for 2,165 metres undertaken. The completed drilling was designed to gain a better understanding
of the lithologies composing the prospect area and as infill drilling to an RC drill programme carried out by Auris
in 2011.
Results were received for a total of 104 Air Core drill holes (MWAC4138 – MWAC4241) completed within the
Doolgunna Project. All results from the completed drill programme have now been received.
A significant composite gold intersection of 5m @ 3.08g/t Au from 20m was returned from MWAC4225, (Refer
ASX Announcement 15 October 2021). This intersection is located approximately 100m along strike from the
Salmon Prospect.
All remaining results were also received from the regional Air Core drilling completed within the Morck Well
Project, comprising 146 holes (MWAC3248 – MWAC3259. MWAC3590 – MWAC3600, MWAC3626,
MWAC4016 – MWAC4137). A single significant result of 1m @ 0.11% Cu from 155m within MWAC4021 ,
(Refer ASX Announcement 15 October 2021) was returned.
A further 15 holes (MWAC4242 – MWAC4256, Refer ASX Announcement 24 January 2021) for 1,420 metres
were completed at the Morck Well Project, on a 400x100m infill pattern to provide high quality litho-geochemical
data and key geological information to delineate the upper Narracoota stratigraphy, known to be host to VMS-
style mineralisation. No significant results were received from this drilling.
RC Drilling
Two RC drill holes (MWRC0051 and MWRC0052) for 327m were completed to further evaluate interpreted
supergene enrichment intersected at the base of complete oxidation within previous air core drilling (Refer ASX
Announcements 23 September 2020 and 20 January 2021) including:
• 10m @ 0.42% Cu from 40m incl 5m @ 0.64% Cu from 40m - MWAC2870
• 15m at 0.46% Cu from 55m incl 5m at 0.89% Cu from 65m – MWAC3356
MWRC0051 was abandoned after 34m and the hole re-designed, MWRC00052, intersected significant copper,
zinc and lead mineralisation (Table 1, Refer ASX Announcement 19 April 2022) and 2m of trace native copper
between 118-120m. The drill hole encountered an extended weathered profile, intersecting weathered upper
saprolite down to 136m, interpreted to be associated with preferential weathering along a structure.
A follow up RC drill programme is being designed to test the strike continuity of the supergene mineralisation
observed and to test the potential for mineralisation at depth.
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DIRECTORS’ REPORT
Table 3. Significant RC Drill Results - Morck Well JV AC
Hole ID
From (m)
MWRC0052
including
including
34
44
87
103
To
(m)
73
46
120
114
Interval
(m)
38
2
33
11
Intersection
Cu (ppm) Au (ppm)
577
1,205
740
1,215
<0.01
<0.01
<0.01
<0.01
Zn
(ppm)
2,528
4,250
2,502
3,455
Pb (ppm)
1,707
5,175
240
202
Diamond Drilling
The diamond drill rig was unable to re-enter MWRC0052 to complete a diamond tail due to adverse ground
conditions.
Figure 4. Drilling Summary Plan - Morck Well Project
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Figure 5. Drilling Summary Plan - Morck Well Project
One diamond drill hole (MWDD0006) was completed at the Citra prospect, to a depth of 1,141m, (Refer ASX
Announcement 21 July 2022). The drill hole was designed to test an interpreted rift and transform structure
intersection proximal to mapped exhalative sediments.
Encouragingly, the hole intersected several trace mineralised horizons containing minor bornite, chalcopyrite
and chalcocite.
-
-
-
808-809.5m - Trace/minor bornite and chalcopyrite in exhalative jasper
812-840m - Trace/minor disseminated chalcopyrite along bedding planes
1,038.8-1,041m – Trace/minor chalcocite blebs
The hole was successfully grouted, PVC was run for the full length of the hole and is now awaiting DHEM. All
assay results from the sampling of the drill hole are pending.
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Figure 6 - Drilling Summary Plan – Citra Prospect
Figures 1 and 2 Notes -
Morck Well Copper – Gold Prospect –SFR ASX announcement 6 June 2018
Jacques Gold Prospect –RNI ASX announcement 16 April 2013
Frenchy’s Gold Prospect – AUR ASX announcement 16 April 2019
Durack Gold Resource – refer WGX announcement 4 September 2017
SFR (MWAC/MWRC/MWDD prefix) results refer ASX announcements 30 March 2020, 20 April 2020,
17 July 2020, 23 October 2020, 20 January 2021, 20 April 2021 and 9 June 2021
Durack East Prospect - Refer ASX announcements 28 October 2020, 28 January 2021, 13 October
2021), 2 November 2021 and 17 December 2021
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Cashman JV (Managed by Sandfire Resources Ltd until 4 August 2022)
Project Summary
In September 2019, Auris entered into a farm-in agreement with Sandfire to advance exploration at the
Company’s Cashman Project located in the Bryah Basin of Western Australia. Under the agreement Sandfire
were until 4 August 2022 sole funding exploration until a Feasibility Study is completed on a discovery of
>50,000t Copper or metal equivalent to earn a 70% interest.
Air Core Drilling
Results were received for the programme of fifty Air Core drill holes (CHAC1860 – CHAC1909) for 1,663m
designed to infill existing 100m-spaced drill collars, specifically targeting prospective sediment horizons of the
Karalundi Formation to provide additional geochemical data in the area proximal to the Orient gossan.
A single significant result of 5m @ 0.60g/t Au from 25m was returned within CHAC1885 (Refer ASX
Announcement 15 October 2021). This intersection is located 400m along strike to the east from previous
intersected mineralisation of 1m @ 9.72g/t Au from 40m (CHAC0780).
Diamond Drilling
Results were received from the two diamond tails (CHRC0007 and OTRC007) completed at the Orient prospect
during the June 2021 quarter. A maximum significant copper result of 1.18m @ 0.83% Cu from 417.3m including
0.68m @ 1.28% Cu from 417.8m (OTRC007) has been returned (Refer ASX Announcement 15 October 2021).
All significant intersections returned from Diamond drilling within the Cashman JV are reported in Table 4.
Table 4. Significant intervals returned from Diamond Drilling - Cashman JV
Hole ID
From (m)
To (m)
CHRC0007
OTRC007
including
450
417.3
417.8
624.77
631.2
451.34
418.48
418.48
625.7
632.2
Interval
(m)
1.34
1.18
0.68
0.93
1.00
Intersection
Zn
Au
(ppm)
(ppm)
92
0.021
457
0.05
513
0.08
250
0.007
119
0.019
Cu
(ppm)
1290
8338
12800
1380
1420
Pb
(ppm)
30.5
75
77
39
4
DHEM surveying of CHRC0007 was completed to a depth of 370m, however, a blockage at this depth meant
the bottom half of the hole could not be surveyed. A new DHEM survey will be run once the hole is cleared in
the next reporting period.
Structural interpretation of the project area has led to areas of interest which may be tested by additional RC
drilling in the future.
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Cheroona JV (Sandfire earning 70% Interest until 4 August 2022)
Project Summary
On 4 February 2020 Auris and Northern Star Resources Limited (NST) entered into a Farm-in agreement with
Sandfire in relation to tenements, E51/1391, E51/1837 and E51/1838, to advance exploration at the Cheroona
Project located in the Bryah Basin of Western Australia. Under the agreement Sandfire were until 4 August 2022
sole funding exploration until a Feasibility Study is completed on a discovery of >50,000t Copper or metal
equivalent to earn a 70% interest.
Diamond Drilling
A single diamond hole for 840.9m was completed, comprising a 448m RC precollar and 392.9m diamond tail.
The drill hole was designed to test an airborne EM anomaly, interpreted to be a fractionated dolerite or a
jasperoidal chert and the potential for the prospective Karalundi Formation below this anomaly and the
Narracoota Formation at depth.
All results were returned from the RC precollar and diamond drill tail completed last quarter, (Refer ASX
Announcement 19 April 2022). No significant results were received.
Figure 7. Drilling Summary Plan – Cashman / Cheroona JV’s
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Corporate
5. Significant Changes in the State of Affairs
In the opinion of the directors there were no significant changes in the state of affairs of the Group that occurred
during the financial year, other than those described in this report under ‘Principal activities and review of
operations.
6. Environmental Regulations
The Group’s exploration activities are subject to various environmental regulations. The Board is responsible for
the regular monitoring of environmental exposures and compliance with environmental regulations.
The Group is committed to achieving a high standard of environmental performance and conducts its activities
in a professional and environmentally conscious manner and in accordance with applicable laws and permit
requirements. The Board believes that the Group has adequate systems in place for the management of its
environmental requirements and is not aware of any breach of those environmental requirements as they apply
to the Group.
The directors have considered the enacted National Greenhouse and Energy Reporting Act 2007 (the NGER
Act) which introduces a single national reporting framework for the reporting and dissemination of information
about the greenhouse gas emissions, greenhouse gas projects, and energy use and production of corporations.
At the current stage of development, the directors have determined that the NGER Act will have no effect on the
Company for the current financial year. The directors will reassess this position as and when the need arises.
7. Dividends
The directors have not recommended the declaration of a dividend. No dividends were paid or declared during
the current or prior period.
8. Events Subsequent to Reporting Date
No matters or circumstances have arisen since the end of the financial year which significantly affected or may
significantly affect the operations of the Company, the results of those operations, or the state of affairs of the
Company in future financial years, other than the following:
- Sandfire Resources Ltd provided formal notice of their withdrawal from the Cheroona and Cashman
farm in agreements, effective 4 August 2022.
Sandfire have compiled all reports and data and have handed over to Auris. Auris are completing a
detailed review of all project data, to determine next steps and any future work programmes.
- The impact of the Coronavirus (COVID-19) pandemic is ongoing and while it has had no significant
impact on the Group up to 30 June 2022, it is not practicable to estimate the potential impact, positive
or negative, after the reporting date. The situation continues to develop and is dependent on measures
imposed by the Australian Government and other countries, such as maintaining social distancing
requirements, quarantine, travel restrictions and any economic stimulus that may be provided.
9. Likely Developments
Likely developments in the operations of the Group and the expected results of those operations in future
financial years have not been included in this report, as the inclusion of such information is likely to result in
unreasonable prejudice to the Group.
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10. Share Options
Unissued shares under option
At the date of this report unissued ordinary shares of the Company under option are:
Expiry date
Exercise Price
No. of options
30 Nov 2023
$0.08
476,625,957
Listed
The options do not entitle the holder to participate in any share issue of the Company or any other body
corporate.
Other shares issued since the end of the financial year
There have been no shares issued since the end of the financial year.
11. Remuneration Report - Audited
Principles of compensation
Remuneration is referred to as compensation throughout this report.
Key management personnel have authority and responsibility for planning, directing and controlling the activities
of the Group. Key management personnel comprise the directors of the Group.
Compensation levels for key management personnel of the Group are competitively set to attract and retain
appropriately qualified and experienced directors and executives. The Board may obtain independent advice on
the appropriateness of compensation packages of the Group given trends in comparative companies both locally
and internationally and the objectives of the Group’s compensation strategy.
The compensation structures explained below are designed to attract suitably qualified candidates, reward the
achievement of strategic objectives, and achieve the broader outcome of creation of value for shareholders.
Compensation packages include a mix of fixed compensation, equity-based compensation, performance-based
compensation as well as employer contributions to superannuation funds.
Shares and options may only be issued to directors subject to approval by shareholders in general meeting.
Fixed compensation
Fixed compensation consists of base compensation as well as employer contributions to superannuation funds.
Compensation levels are reviewed annually by the Board through a process that considers individual and overall
performance of the Group. In addition, from time to time external consultants provide analysis and advice to
ensure the directors’ and senior executives’ compensation is competitive in the market place. The Group did not
employ the services of any remuneration consultants during the financial year ended 30 June 2022.
Performance linked compensation (Short-term incentive bonus)
In considering the Group’s strategic objectives the Board may integrate certain performance linked short-term
incentives (STIs) into key management personnel compensation packages.
Performance linked compensation primarily include STIs and are considered by the Board as and when projects
are delivered and are entirely at the Board’s discretion. The measures chosen are designed to align the
individual’s reward to the achievement of the Group’s strategies and goals and to reward key management
personnel for meeting or exceeding their personal objectives. No bonuses were paid during the financial year.
Equity based compensation (Long-term incentive bonus)
The Board provides equity-based long-term incentives (LTIs) to promote continuity of employment and to provide
additional incentive to key management personnel to increase shareholder wealth. LTIs are provided as options
and rights over ordinary shares of the Company and are provided to key management personnel based on their
Auris Minerals Limited I 2022 ANNUAL REPORT
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DIRECTORS’ REPORT
level of seniority and position within the Group. Options and rights may only be issued to directors subject to
approval by shareholders in general meeting.
Key Management Personnel Incentives
Short-term and long-term incentive structure and consequences of performance on shareholder wealth have
been considered. However, given the Group’s principal activity during the course of the financial year consisted
of exploration and evaluation, the Board has given more significance to service criteria instead of market related
criteria in setting the Group’s incentive schemes. Accordingly, at this stage the Board does not consider the
Company’s earnings or earning measures to be an appropriate key performance indicator. The issue of options
or rights as part of the remuneration package of directors is an established practice for listed exploration
companies and has the benefit of conserving cash whilst appropriately rewarding the directors. In considering
the relationship between the Group’s remuneration policy and the consequences for the Company’s shareholder
wealth, changes in share price are analysed.
The Group’s respective earnings and share price for the periods ended 30 June 2018 to 30 June 2022 are as
follows:
Net loss
Closing ASX share
price
30 Jun 18
30 Jun 19
30 Jun 20
30 Jun 21
30 Jun 22
(1,317,036)
(1,845,664)
(422,531)
(2,312,605)
(1,591,090)
$0.068
$0.015
$0.048
$0.048
$0.017
In the opinion of the Board, these earnings, as listed above, are largely irrelevant for assessing the Group’s
respective performance during the exploration and evaluation phases.
Service contracts
i)
Non-Executive Chair
Director and consulting services are provided by Mr Bassett via an associated company on normal commercial
terms and conditions.
The Non-Executive Chair rate was set at $45,000 per annum with effect from 1 February 2017. Additional fees
may be payable to Mr Bassett for any additional duties performed outside his role as Non-Executive Chair at a
rate of $1,500 per day.
ii)
Non-Executive Directors
Non-Executive Directors are currently paid at a rate of $30,000 per annum on a continuous service arrangement
requiring at least one month’s notice for termination. Total compensation for all Non-Executive Directors is set
based on advice, from time to time, from external advisors with reference to fees paid to other Non-Executive
Directors of comparable companies. The Group did not employ the services of any remuneration consultants
during the financial year ended 30 June 2022. Non-Executive Directors’ fees are presently limited to $250,000
per annum, excluding director services charged under management or consulting contracts.
Directors’ fees cover all main Board activities. The Board has no established retirement or redundancy schemes
in relation to Non-Executive Directors.
iii) Managing Director
The Managing Director services are provided by Mr Hendriks via an associated company on normal commercial
terms and conditions.
At the reporting date, the Managing Director’s salary was $180,000 per annum inclusive of superannuation,
subject to annual review. The service contract, for no fixed term , may be terminated by either party providing
the other with three (3) months notice in writing. On termination, Mr Hendriks will be entitled to three (3) months
salary if removal from the position occurs for any reason other than a serious breach of contract.
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DIRECTORS’ REPORT
Key Management Personnel remuneration
Details of the nature and amount of each major element of remuneration are as follows:
Key Management Personnel
(KMP)
Short
term
salary
and fees
Super-
annuation
benefits
Termination
benefits
Equity settled
share based
payments
Total
Proportion of
remuneration
performance
related
$
$
$
$
$
%
Value of
options/rights
as proportion
of
remuneration
%
Non-executive chair
N Bassett (i)
2022
2021
45,000
40,500
Managing director / Chief operating officer
2022
M Hendriks (ii)
2021
Non-executive director
C Hall (iii)
R Martin (iv)
Total
2022
2021
2022
2021
2022
2021
180,000
143,490
27,273
24,658
-
8,667
252,273
217,315
-
-
-
-
2,727
2,342
-
-
2,727
2,342
-
-
-
-
-
-
-
-
-
-
-
-
45,000
40,500
- 180,000
- 143,490
-
-
-
-
30,000
27,000
-
8,667
- 255,000
- 219,657
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(i)
Neville Bassett was appointed Non-Executive Chair on 20 April 2018.
(ii) Mike Hendriks was appointed as COO on 6 July 2018 on a consultancy arrangement. On 20 November 2020 Mr Hendriks resigned
as COO and Company Secretary and was appointed as Managing Director.
(iii) Craig Hall was appointed as Non-Executive Director on 1 August 2018 as the Investmet representative.
(iv) Robert Martin was appointed 2 November 2016; Resigned 20 November 2020.
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DIRECTORS’ REPORT
Equity instruments
Options holdings
Options refer to options over ordinary shares of Auris and are exercisable on a one-for-one basis. Details of
options over ordinary shares in Auris that were granted and vested as compensation to each key management
person are as follows:
Balance at 1
July 21 or
date of
appointment
Issue
date
Granted as remuneration
Exercised
Lapsed
Other
changes
Balance at
30 June 22
or date of
resignation
No.
Value
No.
No.
No.
Non-executive Chairman
N Bassett
-
Managing Director / Chief Operating Officer
M Hendriks
Non-executive Directors
C Hall
-
-
-
-
-
-
-
-
-
-
-
(i) Participation by Director in the pro-rata non-renounceable options offer (Note 13).
-
-
-
- (i)
1,100,000
1,100,000
-
-
(i)
500,000
500,000
-
-
No terms of equity-settled share-based payment transactions (including options and rights granted as
compensation to a key management person) have been altered or modified by the issuing entity during the
reporting period or the prior period.
During the reporting period, no shares were issued on exercise of options previously granted as compensation
and no options were forfeited by key management persons during the reporting period.
Performance rights holdings
Rights refer to performance rights held over ordinary shares of the Company and are exercisable on a one-for-
one basis when vesting conditions are met. No performance rights were granted during the financial year or held
at the report date.
Share holdings
No shares were granted to key management personnel during the reporting period as compensation in 2022.
The movement during the reporting period in the number of ordinary shares in Auris Minerals Limited held
directly, indirectly or beneficially, by each key management person, including their related parties, is as follows:
Balance at 1
July 21 or date
of appointment
Acquired during
the period
Exercise of
options (i)
Other changes
Balance at 30
June 22 or date
of resignation
Non-Executive Chairman
N Bassett
1,100,000
Managing Director / Chief Operating Officer
M Hendriks
Non-Executive Directors
C Hall
500,000
-
Other Equity-related KMP Transactions
-
-
-
-
-
-
-
-
-
1,100,000
500,000
-
There have been no other transactions involving equity instruments apart from those described in the tables
above relating to options, rights, and shareholdings.
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DIRECTORS’ REPORT
Other Transactions with KMP and / or their Related Parties
There were no other transactions conducted with the Group and KMP or their related parties, apart from those
disclosed above. All transactions were conducted in accordance with normal employee, customer or supplier
relationships on terms no more favourable than those reasonably expected under arm’s length dealings with
unrelated persons.
END OF AUDITED SECTION
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12. Proceeding on Behalf of Company
No person has applied for leave of court to bring proceedings on behalf of the Company or intervene in any
proceedings to which the Company is a party for the purpose of taking responsibility on behalf of the Company
for all or any part of those proceedings. The Company was not party to any such proceedings during the year.
13. Indemnification and Insurance of Officers and Auditors
Indemnification
The Group indemnifies each of its directors and company secretary. The Group indemnifies each director or
officer to the maximum extent permitted by the Corporations Act 2001 from liability to third parties, except where
the liability arises out of conduct involving lack of good faith, and in defending legal and administrative
proceedings and applications for such proceedings.
The Group must use its best endeavours to insure a director or officer against any liability, which does not arise
out of a conduct constituting a wilful breach of duty or a contravention of the Corporations Act 2001. The Group
must also use its best endeavour to insure a director or officer against liability for costs and expenses incurred
in defending proceedings whether civil or criminal.
The Group has not entered into any agreement with its current auditors indemnifying them against any claims
by third parties arising from their report on the financial report.
The directors of the Company are not aware of any proceedings or claim brought against Auris Minerals Ltd or
its controlled entities as at the date of this report.
Insurance
The Group holds cover in respect of directors’ and officers’ liability and legal expenses’ insurance, for current
and former directors and officers of the Group.
14. Non-audit Services
During the year Elderton Audit Pty Ltd, the Company’s auditor, did not perform any services other than their
audit services.
In the event that non-audit services are provided by Elderton Audit Pty Ltd, the Board has established certain
procedures to ensure that the provision of non-audit services are compatible with, and do not compromise, the
auditor independence requirements of the Corporations Act 2001. These procedures include:
§
§
non-audit services will be subject to the corporate governance procedures adopted by the Group and
will be reviewed by the Group to ensure they do not impact the integrity and objectivity of the auditor;
and
ensuring non-audit services do not involve reviewing or auditing the auditor’s own work, acting in a
management or decision making capacity for the Group, acting as an advocate for the Group or jointly
sharing risks and rewards.
Details of the amounts paid to the auditor of the Company and their related practices for audit services provided
during the year are set out below.
Audit and review of financial reports
2022
$
26,421
26,421
2021
$
28,700
28,700
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15. Competent Person’s Statement
Competent Person’s Statement
Information in this report that relates to exploration results is based on and fairly represents information and
supporting documentation prepared and compiled by Mr Matthew Svensson, who is a Member of the Australian
Institute of Geoscientists.
Mr Svensson is the Exploration Manager for Auris Minerals Limited. Mr Svensson has sufficient experience,
which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity which
he is undertaking to qualify as a Competent Person, as defined in the 2012 Edition of the Australasian Code for
Reporting Exploration Results, Mineral Resources and Ore Reserves. Mr Svensson consents to the inclusion in
this report of the matters based on this information in the form and context in which it appears.
No New Information
Except where explicitly stated, this report contains references to prior exploration results and Mineral Resource
estimates, all of which have been cross referenced to previous market reports made by the Company. The
Company confirms that it is not aware of any new information or data that materially affects the information
included in the relevant market announcements and, in the case of estimates of Mineral Resources that all
material assumptions and technical parameters underpinning the results and/or estimates in the relevant market
report continue to apply and have not materially changed.
Forward-Looking Statements
This report has been prepared by Auris Minerals Limited. This document contains background information about
Auris Minerals Limited and its related entities current at the date of this report. This is in summary form and does
not purport to be all inclusive or complete. Recipients should conduct their own investigations and perform their
own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements
and opinions contained in this report. This report is for information purposes only. Neither this document nor the
information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the
purchase or sale of shares in any jurisdiction.
This report may not be distributed in any jurisdiction except in accordance with the legal requirements applicable
in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A
failure to do so may result in a violation of securities laws in such jurisdiction. This document does not constitute
investment advice and has been prepared without taking into account the recipient’s investment objectives,
financial circumstances or particular needs and the opinions and recommendations in this representation are
not intended to represent recommendations of particular investments to particular persons. Recipients should
seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks,
which include (among others) the risk of adverse or unanticipated market, financial or political developments.
No responsibility for any errors or omissions from this document arising out of negligence or otherwise is
accepted. This document does include forward-looking statements. Forward-looking statements are only
predictions and are subject to risks, uncertainties and assumptions which are outside the control of Auris
Minerals Limited. Actual values, results, outcomes or events may be materially different to those expressed or
implied in this report. Given these uncertainties, recipients are cautioned not to place reliance on forward-looking
statements.
Any forward-looking statements in this report speak only at the date of issue of this report. Subject to any
continuing obligations under applicable law and ASX Listing Rules, Auris Minerals Limited does not undertake
any obligation to update or revise any information or any of the forward-looking statements in this document or
any changes in events, conditions or circumstances on which any such forward-looking statement is based.
16.
Corporate Governance Statement
The Company’s 2022 Corporate Governance Statement has been released as a separate document and is
located on the Company’s website at www.aurisminerals.com.au
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17. Lead Auditor’s Independence Declaration
The lead auditor’s independence declaration is set out on page 35 and forms part of the directors’ report for the
financial year ended 30 June 2022.
This report is made with a resolution of the directors.
NEVILLE BASSETT
NON-EXECUTIVE CHAIR
Dated at West Perth this 26th day of August 2022
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SCHEDULE OF MINING TENEMENTS
Schedule of Mining Tenements as at 30 June 2022
Tenement
Number
Doolgunna Project
Registered Holder
Date Granted
Note
Area
Graticular
Blocks(bk) /
Hectares (ha)
Area
Sq
km
E52/2438
Auris Minerals Limited
11/02/2010
7bk
21.68
1,7
Morck Well Project
E51/1033
E51/1883
E52/1613
E52/1672
Auris Exploration Pty Ltd 80%;
Jackson Minerals Pty Ltd 20%
Auris Exploration Pty Ltd 100%
Auris Exploration Pty Ltd 80%
Jackson Minerals Pty Ltd 20%
Auris Exploration Pty Ltd 80%;
Jackson Minerals Pty Ltd 20%
Feather Cap Project
E52/1910
E52/2472
E52/3275
E52/3327
E52/3350
E52/3351
P52/1497
P52/1503
P52/1504
Auris Exploration Pty Ltd
Auris Exploration Pty Ltd
Auris Exploration Pty Ltd
Auris Exploration Pty Ltd
Auris Exploration Pty Ltd
Auris Exploration Pty Ltd
Auris Exploration Pty Ltd
Auris Exploration Pty Ltd
Auris Exploration Pty Ltd
Cashman Project
E51/1053
E51/1120
Auris Exploration Pty Ltd
Auris Exploration Pty Ltd
Cheroona Project
E51/1391
E51/1837
E51/1838
Northern Star Resources Ltd
Auris Exploration Pty Ltd 70%
Northern Star Resources Ltd 30%
Auris Exploration Pty Ltd 70%
Northern Star Resources Ltd 30%
Forrest Project
E52/1659
E52/1671
P52/1493
P52/1494
P52/1495
Auris Exploration Pty Ltd 80%
Aragon Resources Pty Ltd 20%
Auris Exploration Pty Ltd 80%
Aragon Resources Pty Ltd 20%
Auris Exploration Pty Ltd
Auris Exploration Pty Ltd 80%
Jackson Minerals Pty Ltd 20%
Auris Exploration Pty Ltd 80%
Jackson Minerals Pty Ltd 20%
Auris Minerals Limited I 2022 ANNUAL REPORT
ABN 77 085 806 284
22/09/2005
53bk
161.84
3,7
02/08/2019
29/03/2006
4bk
30bk
12.21
92.77
7
3,7
22/09/2005
35bk
108.02
3,7
10/08/2006
19/11/2009
01/06/2016
15/10/2015
02/03/2016
02/03/2016
6/3/2015
6/3/2015
6/3/2015
22/09/2005
10/08/2006
11/11/2010
19/01/2018
41bk
2bk
2bk
2bk
3bk
2bk
155.90ha
172.86ha
191.81ha
35bk
40bk
21bk
3bk
124.21
6.1
4
6.1
6.1
9.2
6.1
1.56
1.73
1.92
105.26
122.46
64.82
9.2
7
7
7,9
7,9
19/01/2018
11bk
33.62
7,9
27/01/2004
13bk
34.09
5,8
23/11/2004
61bk
185.26
5,8
6/3/2015
6/3/2015
191.66ha
179.33ha
1.92
1.79
6/3/2015
181.09ha
1.81
5
2
2
29 | P a g e
SCHEDULE OF MINING TENEMENTS
Tenement
Number
Registered Holder
Date Granted
Area
Area
Note
Graticular
Blocks(bk) /
Hectares (ha)
183.70ha
Sq
km
1.83
2
P52/1496
Auris Exploration Pty Ltd 80%
6/3/2015
Jackson Minerals Pty Ltd 20%
Milgun Project
E52/3248
Auris Exploration Pty Ltd 85%
Omni Projects Pty Ltd 15%
31/03/2015
7bk
21.39
6
E52/3757
Auris Exploration Pty Ltd
7/1/2020
37bk
113.15
Horseshoe Well Project
E52/3291
Auris Exploration Pty Ltd 85%
02/03/2016
13bk
24.45
6
E52/3166
Omni Projects Pty Ltd 15%
Auris Exploration Pty Ltd
18/12/2014
20bk
103.92
Notes:
Auris Exploration Pty Ltd (AE) is a wholly owned subsidiary of Auris Minerals Limited.
1. Ascidian Prospecting Pty Ltd hold a 1% gross revenue royalty from the sale of all minerals.
2. Peak Hill Sale Agreement: AE 80%, Jackson Minerals Pty Ltd 20% & free carried to a decision to mine.
3. PepinNini Robinson Range Pty Ltd (PRR) hold a 0.8% gross revenue royalty from the sale or disposal of iron
ore.
4. PRR hold a 1.0% gross revenue royalty from the sale or disposal of iron ore.
5. Westgold Resources Limited owns gold mineral rights over the AE interest.
6. AE 85% beneficial interest, Omni Projects Pty Ltd 15% beneficial interest.
7. Sandfire Resources Limited – Earn-in Agreement with rights to earn 70% interest.
8. AE 80%, Westgold Resources Limited 20% & free carried to a decision to mine.
9. AE 70%, Northern Star Resources Ltd 30% beneficial interest.
Auris Minerals Limited I 2022 ANNUAL REPORT
ABN 77 085 806 284
30 | P a g e
ADDITIONAL SHAREHOLDER INFORMATION
Shareholder Information
The shareholder information set out below was applicable at 24 August 2022.
A. Distribution of Holders of Equity Securities
i) Analysis of numbers of shareholders by size of holding:
Ordinary Shares (AUR)
No. of
shareholders
Percentage of issued
capital
156
92
180
580
253
1,261
0.01
0.06
0.31
4.84
94.79
100
1 – 1,000
1,001 – 5,000
5,001 – 10,000
10,001 – 100,000
Over 100,000
Total
ii) Analysis of numbers of optionholders by size of holding:
Options (AURO)
No. of option
holders
Percentage of issued
capital
9
9
19
80
129
246
0.00
0.01
0.03
0.84
99.12
100
1 – 1,000
1,001 – 5,000
5,001 – 10,000
10,001 – 100,000
Over 100,000
Total
Auris Minerals Limited I 2022 ANNUAL REPORT
ABN 77 085 806 284
31 | P a g e
ADDITIONAL SHAREHOLDER INFORMATION
B. Twenty Largest Holders of Quoted Equity Securities
Fully Paid Ordinary Shares
The names of the 20 largest holders of quoted ordinary shares (ASX:AUR) are listed below:
Number of ordinary
shares held
Percentage of
issued shares
CITICORP NOMINEES PTY LIMITED
INVESTMET LIMITED
HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED
SANDFIRE RESOURCES LIMITED
NITRO SUPER PTY LTD
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