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KNB 
Koonenberry Gold Limited 
ASX

Quarterly Activities/Appendix 5B Cash Flow Report

Sentiment:
 Quarterly Report
 15 April 2025 7:34 PM

Koonenberry Gold reports promising drill results at the Enmore Gold Project, expands its tenement holdings, and maintains a strong cash position of $5.35 million as of March 31, 2025.

Better than expected
  The drill results at Enmore Gold Project are better than expected, demonstrating potential for both bulk tonnage and high-grade gold mineralization. 

Summary
  • Koonenberry Gold's first drill hole at Sunnyside returned 170m @ 1.75g/t Au from 77m, including 18.3m @ 9.95g/t Au from 172.9m.
  • A second drill hole at Sunnyside returned 172.9m @ 2.07g/t Au from 171m, including 25m @ 5.23g/t Au from 195m.
  • The company acquired additional tenure, expanding the Enmore Gold Project from 168km2 to 302km2.
  • Newmont conducted drilling at the Junee JV, totaling 94 holes for 6,743m, and at the Fairholme JV, consisting of 10 holes for 1,157m.
  • Fieldwork at Breakfast Creek confirmed high-grade gold-copper along a 6km trend, with results up to 7.02g/t Au and 1.96% Cu.
  • Field work at Prince of Wales identified a 4km long gold trend including rock chip results up to 5.26g/t Au.
  • The Company raised $2 million through a private share placement to accelerate exploration plans.
  • As of March 31, 2025, the Company had a cash balance of $5.35 million and no debt.
  • Share price gains of 242% were achieved during the quarter.
Sentiment

Score: 8

Explanation: The report is highly positive due to the significant drill results, expansion of the project area, strong cash position, and management's optimistic outlook; the company's share price gains further contribute to the positive sentiment.

Positives
  • Exceptional drill results at the Enmore Gold Project indicate potential for bulk tonnage and high-grade gold mineralization.
  • Expansion of the Enmore Gold Project secures additional gold-antimony targets.
  • Newmont's active drilling at Junee and Fairholme JVs demonstrates commitment to the projects.
  • Encouraging surface copper and gold geochemical results at Breakfast Creek and Prince of Wales Projects.
  • Strong cash position of $5.35 million allows for continued exploration and development.
  • The company achieved share price gains of 242% during the quarter.
  • The company has no debt.
Risks
  • Exploration activities are subject to regulatory approvals and inclement weather, which could cause changes to planned activities.
  • Forward-looking statements are based on assumptions that may not prove to be correct.
  • The company's business or operations could be affected by unforeseen factors beyond its control.
  • Historical exploration results in this announcement are not reported in accordance with the JORC Code and a Competent Person has not done sufficient work to classify / report these results in accordance with the JORC Code.
Future Outlook

The company will continue to drill at Enmore for at least the next six weeks and believes it is on the verge of a significant discovery; the company plans to prioritize programs to maximize value for its shareholders and looks forward to providing regular exploration updates.

Management Comments
  • 'Following the transformational acquisition of the Enmore and Lachlan Projects in the previous quarter, we have really hit the ground running in CY2025.'
  • Management believes they are on the verge of a significant discovery at Enmore.
  • Management states that with over $5M cash in the bank, they are well placed to continue to deliver.
Industry Context

The report highlights Koonenberry Gold's activities in the Lachlan Fold Belt, a region known for significant copper-gold porphyry systems, and the New England Orogenic Terrain, prospective for orogenic gold and gold-antimony deposits; the company's projects are compared to established mines like Cadia and Northparkes, indicating the potential for similar large-scale discoveries.

Comparison to Industry Standards
  • The report draws comparisons between the Junee Project samples and those from the Cadia and Ridgeway Mines, noting similar rock types, alteration, veining, and Cu-Au mineralization.
  • The Fairholme JV magnetics are compared to Northparkes magnetics, suggesting similar geological characteristics.
  • The Prince of Wales project has historic workings that produced 26,600oz @ 8.7g/t Au, indicating a historically significant gold deposit.
  • The report references the Hillgrove Gold-Antimony Project Pre-Feasibility Study, placing the Enmore project in a similar geological context.
Stakeholder Impact
  • Shareholders benefit from the increased potential for discovery and the significant share price gains.
  • Employees are involved in active exploration programs, contributing to job security and potential growth.
  • Customers (potential mining partners or acquirers) may be interested in the promising gold and copper resources.
  • Suppliers benefit from ongoing exploration activities and drilling programs.
  • Creditors are assured by the company's strong cash position and lack of debt.
Next Steps
  • Continue drilling at Enmore to test the continuity of mineralization.
  • Design follow-up diamond drilling based on initial results.
  • Plan drilling at other prospects in the district based on soil program results.
  • Prioritize targets across the Lachlan Projects to advance to drill-ready status.
  • Await results from Newmont's programs at Junee and Fairholme to inform future exploration.
  • Conduct reconnaissance field work, geological mapping, geochemical surveys, and additional geophysical work.
Key Dates
  • 07/01/2025: ASX Announcement regarding Breakfast Creek Cu-Au Project
  • 16/01/2025: ASX Announcement regarding Junee Copper Gold Project
  • 24/01/2025: ASX Announcement regarding Prince of Wales Au Project
  • 11/02/2025: KNB commences drilling at Enmore Gold Project.
  • 13/02/2025: Placement to accelerate Exploration at Enmore & Lachlan.
  • 19/02/2025: Multiple zones of visible gold in first drill hole at Enmore.
  • 25/02/2025: KNB expands Enmore Gold Project, NSW securing gold-antimony targets.
  • 26/02/2025: KNB intersects visible gold in second drill hole at Enmore.
  • 12/03/2025: The Company provided its Half Year Report to 31 December 2024 to shareholders.
  • 17/03/2025: More gold zones identified at Enmore Gold Project, NSW.
  • 31/03/2025: End of the quarterly period; Company had a cash balance of $5.35 million.
  • 02/04/2025: KNB returns 170m @ 1.75gt gold including 18.3m at 9.95gt gold from first drillhole.
  • 14/04/2025: KNB returns 172.9m @ 2.07g/t gold incl. 25m at 5.23g/t gold from second drillhole at Enmore Project, NSW.
  • 16/04/2025: Date of the quarterly cash flow report.
  • 29/04/2026: Expiry date of options exercisable at $0.04 each.
Keywords
Gold, Copper, Exploration, Drilling, Enmore, Lachlan, Newmont, Koonenberry
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
Delay expected
21 April 2024 7:02 PM
Project Update
  • Drilling at Atlantis was delayed due to unexpected difficult drilling conditions (hard ground).
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
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.