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KNB 
Koonenberry Gold Limited 
ASX

Quarterly Activities/Appendix 5B Cash Flow Report

Sentiment:
 Quarterly Report
 23 January 2025 6:03 PM

Koonenberry Gold completes transformational acquisitions of Enmore and Lachlan projects, creating a significant NSW-focused explorer with a large land portfolio and promising early drilling results.

Better than expected
  The company has made transformational acquisitions that have significantly increased the size and potential of its portfolio.  The company has reported high grade drilling results at the Enmore project.  The company has completed a capital raise and is well funded. 

Summary
  • Koonenberry Gold has acquired the Enmore Gold Project and the Lachlan Copper-Gold Projects, significantly expanding its portfolio.
  • The acquisitions have transformed Koonenberry into a NSW-focused explorer with a land holding of 4,192 square kilometers.
  • Drilling at the Enmore project yielded significant results, including 174 meters at 1.83 grams per tonne of gold.
  • The Lachlan projects, including a joint venture with Newmont, have shown early encouraging drill results with porphyry copper-gold potential.
  • A capital raising, supported by Lion Selection Group and Lowell Resources Fund, has placed the company in a strong financial position.
  • A ground electromagnetic survey at the Atlantis prospect did not identify bedrock conductors, suggesting disseminated mineralization or fluid movement along structures.
  • The company plans to drill at Enmore in February 2025 and prioritize targets across the Lachlan projects.
Sentiment

Score: 8

Explanation: The document is very positive, highlighting transformational acquisitions, strong drilling results, and a solid financial position. The company is clearly positioning itself for growth and discovery.

Positives
  • The acquisitions have created a significant land position in highly prospective areas of NSW.
  • The Enmore project has demonstrated high-grade gold potential with historical and recent drilling results.
  • The Lachlan projects have early-stage drill results indicating porphyry copper-gold potential.
  • The company is well-funded following a successful capital raise.
  • The company has a diverse portfolio of gold and copper projects.
  • The Junee project is 20% free carried with Newmont managing and funding exploration.
Negatives
  • The EM survey at the Atlantis prospect did not identify any bedrock conductors, which may indicate a more challenging exploration target.
  • The company incurred operating expenditure of $370k during the quarter.
  • Exploration expenditure for the quarter was $195k.
Risks
  • Exploration success is not guaranteed, and the company may not find economic deposits.
  • The lack of bedrock conductors at Atlantis may indicate a more complex mineralization system.
  • Planned discovery activity is subject to regulatory approvals and weather conditions.
  • The company is reliant on Newmont for the exploration and funding of the Junee and Fairholme projects.
  • The company is exposed to the risks associated with operating in remote areas.
Future Outlook

The company plans to prioritize programs to maximize value for shareholders, with drilling planned at Enmore in February 2025 and further exploration across the Lachlan and Koonenberry projects. The company will provide regular exploration updates.

Management Comments
  • Managing Director Dan Power stated that the December quarter was a big one for Koonenberry Gold.
  • He noted that the acquisitions of the Enmore and Lachlan Projects have transformed the company, bringing in assets with clear inherent value.
  • He believes the portfolio of projects are extremely value accretive for shareholders and have outstanding potential to yield a significant discovery.
Industry Context

The acquisitions position Koonenberry Gold as a significant player in the NSW exploration sector, with a large land holding in the Lachlan and New England Fold Belts, which are known for hosting major gold and copper deposits. The company is competing with both major and junior explorers in these regions.

Comparison to Industry Standards
  • The Lachlan Fold Belt is home to major deposits such as Newmont's Cadia Mine (35.3Moz Au, 7.9Mt Cu), Evolution Mining's Cowal Mine (13Moz Au), and North Parkes Mine (5.2Moz Au, 4.4Mt Cu).
  • The Enmore Gold Project is located 20km south of Larvotto Resources Au-Sb Mine, and shares similar geology and prospectivity.
  • The Koonenberry Belt is compared to the Stawell Project in Victoria, with a similar deep crustal structure.
  • The company's land position of 4,192km2 is significant and rivals major and junior exploration companies.
  • The company is using modern exploration techniques, which are expected to increase the probability of discovery.
Stakeholder Impact
  • Shareholders should benefit from the increased potential for discovery and value creation.
  • Employees will have opportunities to work on a larger and more diverse portfolio of projects.
  • Customers (potential mining partners) will have access to a larger resource base.
  • Suppliers will have increased opportunities to provide goods and services.
  • Creditors are likely to view the company as a lower risk due to its strong financial position.
Next Steps
  • Drilling at the Sunnyside prospect at the Enmore Gold Project is planned for February 2025.
  • The company will prioritize multiple targets across the Lachlan Projects to advance to drill-ready status.
  • Additional work will include relogging and resampling of historical drill core, surface sampling, and potential geophysics.
  • Exploration will continue at the Koonenberry Project, testing for down-dip continuity of gold mineralization.
  • The company will provide regular exploration updates as work progresses.
Key Dates
  • 29 November 2024: Annual General Meeting of Shareholders where approval was received for project consideration shares and investor placement shares.
  • 31 December 2024: End of the reporting period, with a cash balance of $4.37 million.
  • February 2025: Planned drilling at the Sunnyside prospect at the Enmore Gold Project.
Keywords
gold, copper, exploration, acquisition, drilling, NSW, porphyry, electromagnetic survey, joint venture, capital raising
KNB 
Koonenberry Gold Limited 
ASX
Sector: Materials
 
Filings with Classifications
Better than expected
21 May 2025 9:08 PM
Investment Announcement
  • Koonenberry's drilling results at Enmore exceeded expectations, leading to Lion's increased investment.
Delay expected
19 May 2025 6:24 PM
Exploration Update
  • The Phase I drilling campaign is now finished due to extremely wet conditions on site with 10 holes for 3,232.6m completed of a planned 3,000m.
Better than expected
28 April 2025 7:18 PM
Exploration Update
  • The drill results indicate a potentially wide structural corridor with significant gold intercepts, exceeding initial expectations for the area away from the granite-sediment contact.
Better than expected
15 April 2025 7:34 PM
Quarterly Report
  • The drill results at Enmore Gold Project are better than expected, demonstrating potential for both bulk tonnage and high-grade gold mineralization.
Better than expected
13 April 2025 6:49 PM
Exploration Update
  • The second drillhole returned a higher gram metre interval (357.9) than the first drillhole (297.5), indicating improved potential.
Better than expected
6 April 2025 6:22 PM
Investor Presentation
  • The intercept of 170m @ 1.75g/t gold incl. 18.3m at 9.95g/t gold from first drillhole at Enmore Gold Project, NSW is better than expected.
Better than expected
3 April 2025 12:51 AM
Investor Presentation Announcement
  • The assay results of 170m @ 1.75g/t gold from 77m, including 18.3m at 9.95g/t gold from 172.9m are considered better than expected.
Better than expected
1 April 2025 6:57 PM
Exploration Update
  • The assay results from the first drillhole exceeded expectations due to the high-grade intercept and broad zone of gold mineralisation.
  • The results validate historical drill results, indicating potential for broad and high-grade gold zones.
Delay expected
16 March 2025 6:42 PM
Exploration Update
  • The drilling program has been paused for up to one week due to heavy rains associated with ex-Tropical Cyclone Alfred.
Capital raise
12 March 2025 1:35 AM
Half Year Financial Report
  • The company's ability to continue as a going concern is dependent on raising additional funding either through debt or equity to meet its planned exploration programme.
  • The company will be required to raise funds for working capital from debt or equity sources if the above matters are not achieved.
Worse than expected
12 March 2025 1:35 AM
Half Year Financial Report
  • The company reported a loss of $925,922 for the half-year ended December 31, 2024, indicating worse than expected financial performance.
Better than expected
2 February 2025 4:27 PM
Investor Presentation
  • The document highlights significant exploration results, including broad, high-grade gold intercepts at Sunnyside, suggesting better than expected potential.
  • The commencement of drilling at multiple projects and the joint venture with Newmont indicate a positive outlook and better than expected progress.
Better than expected
23 January 2025 6:03 PM
Quarterly Report
  • The company has made transformational acquisitions that have significantly increased the size and potential of its portfolio.
  • The company has reported high grade drilling results at the Enmore project.
  • The company has completed a capital raise and is well funded.
Better than expected
19 January 2025 4:19 PM
Exploration Update
  • The identification of a 4km gold trend and high-grade sampling results are better than expected for an early-stage exploration project.
Better than expected
6 January 2025 5:28 PM
Exploration Update
  • The rock chip results are better than expected, with high grades of gold and copper, confirming the potential for significant mineralization.
Capital raise
29 November 2024 12:31 AM
Securities Quotation Application
  • An additional 450,000,000 shares are to be issued on December 5, 2024.
Capital raise
28 November 2024 11:47 PM
Annual General Meeting Results
  • Approval was granted for a 10% placement capacity.
  • Approvals were given to issue shares related to Enmore, Lachlan, and director placements.
Delay expected
28 November 2024 6:42 PM
Investor Presentation
  • Planned discovery activity is subject to changes due to various factors including regulatory approvals and inclement weather.
Better than expected
28 November 2024 5:22 PM
Annual General Meeting Report
  • The successful acquisition of the Enmore and Lachlan projects significantly expands Koonenberry Gold's exploration portfolio and increases its potential for major discoveries.
Delay expected
26 November 2024 8:41 PM
Securities Issue Update
  • The issue date of the Placement Shares was delayed by one day, from December 4th to December 5th, 2024.
Worse than expected
17 November 2024 6:17 PM
Exploration Update
  • The second phase of drilling at the Atlantis prospect did not yield significant copper or gold intersections, despite the presence of trace amounts of sulphides, indicating that the targeted mineralisation may be located further from the drillholes or at greater depth than initially anticipated.
Delay expected
17 November 2024 6:17 PM
Exploration Update
  • The first phase of air core drilling at Atlantis was terminated early due to limitations in the rig configuration and air pressure, preventing the testing of three identified EM conductors and limiting the extent of the surveyed area.
Capital raise
28 October 2024 7:44 PM
Notice of Annual General Meeting
  • A $4.5 million capital raising (before costs) is planned through a placement of shares.
  • Directors have committed to subscribing for up to $200,000 of the placement.
Capital raise
16 October 2024 7:55 PM
Investment Announcement
  • Koonenberry Gold is undertaking a \$4.5 million capital raising.
Capital raise
16 October 2024 7:20 PM
Investor Presentation
  • A capital raising of at least A$2,000,000 is planned, with commitments already secured for A$4,500,000.
  • The capital raising will fund the acquisition of the Enmore Gold Project and Lachlan Projects.
Capital raise
16 October 2024 6:54 PM
Acquisition Announcement
  • A $4.5 million capital raise via a placement of 450 million new ordinary shares at $0.010 per share.
  • The placement was supported by major shareholder Lion Selection Group and new investor Lowell Resources Fund.
  • Funds will be used for exploration, capital raising costs, and working capital.
Capital raise
14 October 2024 6:49 PM
Trading Halt Announcement
  • A capital raising is planned in association with a material acquisition.
Capital raise
12 September 2024 4:15 AM
Annual Report
  • A share placement and fully underwritten entitlement offer raised $2,352,537 before costs in April 2024.
Delay expected
12 September 2024 4:15 AM
Annual Report
  • Drilling at the Atlantis Prospect was unable to penetrate to planned depths due to hard and silicified ground, resulting in an early termination of the program.
Delay expected
3 September 2024 7:59 PM
Exploration Update
  • A significant rain event forced an early termination of the drill program at Atlantis, resulting in a compromised program with only 6 holes completed instead of the planned 16.
Worse than expected
3 September 2024 7:59 PM
Exploration Update
  • The drilling program was significantly shorter than planned due to unforeseen weather conditions, resulting in fewer drill holes and less data than anticipated.
Delay expected
30 July 2024 7:16 PM
Exploration Update
  • The drill program in June was terminated early due to a significant rain event.
Delay expected
23 July 2024 8:01 PM
Quarterly Report
  • A significant rain event occurred after the reporting period, resulting in demobilisation of equipment and crew, delaying further exploration.
Better than expected
12 June 2024 7:55 PM
Exploration Update
  • The gold zone has been extended to the east and 200m to the south, expanding the gold footprint to over 500m x 400m.
Delay expected
27 May 2024 7:18 PM
Exploration Update
  • The initial drilling program was terminated early due to rig limitations, preventing the testing of the three EM conductors.
Worse than expected
21 April 2024 7:02 PM
Project Update
  • The drilling at Atlantis did not reach the target depth due to difficult ground conditions, which is worse than expected.
Delay expected
21 April 2024 7:02 PM
Project Update
  • Drilling at Atlantis was delayed due to unexpected difficult drilling conditions (hard ground).
Delay expected
19 April 2024 4:14 AM
Rights Issue Results and Revised Timetable
  • The issue and settlement of Rights Issue shares has been revised from the timetable previously announced to the ASX on 8 March 2024.

Disclaimer: This summary was generated by artificial intelligence and its accuracy is not guaranteed. The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.