AUSTRAL RESOURCES AUSTRALIA LTD (AR1)

The company releases a notification of cessation of securities.

Progress towards completion of the Recapitalisation underway. Preparation of Scoping Study to consider the Updated Mine Plan for Expansion Projects underway. Bell Potter Securities Limited appointed as Corporate Adviser and Lead Manager in respect of the Recapitalisation equity raising.

The company releases its notice of cessation of securities.

The company releases its appendix 4d and half-year report.

New assay results from 2023 DDH drilling program at Lady Colleen, a copper sulphide resource on the Mt Kelly Extended Mining Lease (ML 90170) include: MTKD017 47m @ 1.99% Cu from 203m, Including 20m @ 3.04% Cu from 217m, AND 16m @ 0.83% Cu from 265m, AND 17m @ 1.01% from 285m; MTKD015, 5.5m @ 2.68% Cu from 96m; MTKD012, 20m @ 0.76% Cu from 30m, Including 5.6m @ 1.31% Cu from 38m, AND 5m @ 1.06% Cu from 84m. The purpose of drilling was to expand the limits of known high-grade mineralisation beyond the existing resource model to guide ongoing scoping studies. Results confirm strong Cu sulphide mineralisation that remains open down-dip. MTKD017 represents Austral's best drill intercept to date at the Lady Colleen Deposit. Exploration drilling to the northwest of Lady Colleen indicates the Spinifex Fault remains fertile for copper mineralisation along strike, providing an avenue for further investigation.

The company lodges its notification of cessation of securities.

The company releases its quarterly report.

The securities of the company have been suspended for more than three months. If an entity does not meet the 1 or 2 year deadlines, it will be removed from the official list. The removal will usually take effect from the open of trading on the first trading day after the deadline date.

Shareholders in this company should consider crystallising a capital loss in 2024/25 by selling their shares. This process is now much easier and quicker. It can be achieved online by entering transaction details here. While, this usually makes good economic sense we recommend you seek professional advice before buying or selling securities, your accountant is probably the best person.

The Company has taken a further significant step to formalising the secured debt arrangement. Secover has funded Austral's repayment of the Thiess secured debt, fulfilling a condition of the debt recapitalisation and Anthill project repayment arrangement.

Austral, Glencore, Thiess and Secover (a subsidiary of Harvey Family Office) have entered into an agreement subject to conditions precedent to discharge all secured debt, by granting workout rights pursuant to the Anthill Project Agreement. The Company currently has $78 million in total secured debt. The APA structure is designed to ensure that Austral is debt-free and riskfree with no operational exposure. Austral retains the benefit of a portion of the free cash flow generated from Anthill once the secured debt has been repaid. Senior Secured Debt Reduced by 100% - decreasing from $78 million to Zero. The Company is seeking to raise equity of between $27 million to $35 million1 to repay unsecured debt to Thiess, and fund working capital and accelerate its suite of expansion projects which at Scoping Study levels show the extended mine life. Austral will issue Thiess a convertible note in discharge of the balance of the remaining unsecured debt. The face value of this note will be approximately $31.25 million. On completion of the transactions under the Framework Agreement, Thiess has agreed to the termination of the existing Mining Service Agreement without penalty. With increased financial stability, Austral's focus will be to fast-track the recent Scoping Study into Definitive Feasibility Study with projected timeline to start mining within the next 12 months. Heap Leach Re-Mine will provide another source of revenue for Austral on completion of mining Anthill. The heap leach pads have significant amounts of residual copper.

New assay results from DDH drilling program at Flying Horse, a copper sulphide resource on the Mt Kelly Extended Mining Lease (ML 90170) include: MTKD019 (Sulphide) 40m @ 2.27% Cu from 132m (12.89m true width) including 16m @ 4.71% Cu from 150m (5.15m true width). Assay results from RC drilling targeting extensions to copper oxide mineralisation at the Mt Kelly Pit on the same group of mining leases returned: MTKC0662 (Oxide). 9m @ 1.48% Cu from 35m including 3m @ 2.34% Cu from 36m. Drilling results from the 2023 Flying Horse Program confirm the exploration potential still available on Austral's Mining Leases for both copper oxide and sulphide mineralisation. Improved structural understanding of the Flying Horse "“ Mt Kelly - Mt Clarke mineral systems provide further scope for future copper exploration and extensions to known high-grade copper mineralisation.

The company announces the completion of an update to the Mineral Resource Estimate for the McLeod Hill deposit within ML5426 and ML5474, near the Mount Kelly processing plant and Mount Clarke mine. The McLeod Hill Copper Mineral Resource estimate has seen a 50% increase in contained copper, with a total of 10.7 kt of copper, based on 21 additional drill holes completed by Austral Resources in 2023. The resource is located just 5 km southeast of the AR SX-EW processing plant and is consistently low carbonate (<1.0% Ca). Acid solubility assays indicate some fresh material may suit heap leach processing, and Cu oxide mineralisation remains open along strike to the north. The update for the McLeod Hill Deposit underpins planned work, including evaluating technical, operational, and economic aspects for heap leach processing, diamond drilling to acquire local density measurements and copper mineralogy, and further modelling of high carbonate units within the Gunpowder Creek Formation. The mineral resource confidence has improved, with one third now classified as Indicated.

The securities of Austral Resources Australia Ltd were suspended from quotation by ASX under Listing Rule 17.3 on Thursday, 2 May 2024, following the appointment of Receivers and Managers to AR1. AR1's securities will continue to be suspended under Listing Rule 17.3 until such time that ASX is satisfied with AR1's compliance with the Listing Rules, including Listing Rule 12.2, and that it is otherwise appropriate for AR1's securities to be reinstated to quotation.

The company advises the retirement of Deloitte as Receivers and Managers of the Austral group of companies. The Directors are now in control of the business and operations of the Austral group of companies. Glencore Australia Holdings Pty Limited, the Company's strategic offtake partner, has acquired the senior secured debt from Win Finance No. 359 Pty Ltd. and has assumed the role of senior secured creditor.

The securities of Austral Resources Australia Ltd were suspended from quotation at AR1's request under Listing Rule 17.2 on 5 September 2023, pending the release of an announcement in relation to corporate financing. At AR1's request, the suspension of AR1's securities from quotation was extended on each of 11 September 2023, 18 September 2023, 29 September 2023, 20 October 2023, 6 November 2023, 27 November 2023, 2 January 2024, 5 February 2024 and 4 March 2024 to allow AR1 to progress negotiations regarding the corporate financing which AR1 disclosed was critical to its on-going financial viability. The securities of AR1 will now continue to be suspended from quotation under Listing Rule 17.3, following the appointment of Receivers and Managers to AR1.

Win Finance No. 359 Pty Ltd. has appointed Deloitte's Sean Holmes, Jason Tracy, and Grant Sparks as joint receivers and managers to Austral Resources Operations and Austral Resources Exploration Pty Ltd, in relation to a secured debt owed to Wingate by Austral Operations.

The company appoints Deloitte Turnaround & Restructuring partners Jason Tracy, Grant Sparks, and Sean Holmes as Joint and Several Receivers and Managers. The business will continue to trade while the Receivers and Managers undertake an urgent assessment of the financial position and determine the future of the business and its assets.

The company lodges its March 2024 Quarterly Report.

The company's AGM will be held on Wednesday 22 May 2024 at 10:00am (AEST) (Brisbane time) at the Offices of HopgoodGanim Lawyers, Level 8, Waterfront Place, 1 Eagle Street Brisbane, Queensland.

The Company is intending to hold its 2024 annual general meeting on 22 May 2024. The closing date for receipt of nominations from persons wishing to be considered for election as a Director at the Meeting is 27 March 2024. Any nominations must be received at the Austral registered office no later than 5.00pm (Brisbane time) on 27 March 2024.

The voluntary suspension is pending the release of an announcement in relation to corporate financing as advised in its trading halt request on 1 September 2023 and subsequent voluntary suspensions to allow more time to complete the process. Securities will remain in voluntary suspension until the announcement to the market of the completion of the restructure.

The company releases an Appendix 4E.

The voluntary suspension is pending the release of an announcement in relation to corporate financing as advised in its trading halt request on 1 September 2023 and subsequent voluntary suspensions to allow more time to complete the process. Securities will remain in voluntary suspension until the announcement to the market of the completion of the restructure.

The company releases a notification of cessation of securities.

The company lodges its December 2023 Quarterly Report.

The company provides an operational update. Challenges faced, yet still mining. During the December quarter, Austral encountered unprecedented events when destructive bushfires threatened local properties and mining sites in the western province of Far North Queensland over a three-week period.The Company has faced the recent impact associated with Cyclone Kirrily. Austral's crushing circuit at Mt Clarke faced a setback, resulting in one week's interruption to production. This disruption was primarily caused by exceedingly wet ore that caused significant and continual blockages. A new haulage contract has been successfully executed with REGROUP. Under this agreement, REGROUP will be providing 5 brand-new Kenworth C509 trucks, each equipped to tow new ultra quad trailers, with a Gross Vehicle Mass (GVM) weight of 240 tonnes. This transition aims to ensure more efficient and reliable haulage operations for the Anthill project moving forward.

The Company's securities are expected to remain in voluntary suspension until Friday 2 February 2024 to enable the Company to continue completion of the previously announced financing. The Company continues to progress restructuring its current financial position and is actively engaged in ongoing negotiations to set in place the most effective financial structure.

The voluntary suspension is pending the release of an announcement in relation to corporate financing to allow more time to complete the process. Securities will remain in voluntary suspension until the announcement to the market of the completion of the restructure.

The voluntary suspension is pending the release of an announcement in relation to corporate financing as advised in its trading halt request on 1 September 2023 and subsequent voluntary suspensions to allow more time to complete the process. Securities will remain in voluntary suspension until the announcement to the market of the completion of the restructure.

The company lodges its September 2023 Quarterly Report.

The voluntary suspension is pending the release of an announcement in relation to corporate financing as advised in its trading halt request on 1 September 2023 and subsequent voluntary suspensions to allow more time to complete the process. Securities will remain in voluntary suspension until the announcement to the market of the completion of the restructure.

The company releases a notice of application for quotation of securities.

As required under Listing Rule 3.10A, 203,506,289 fully paid ordinary shares and 15,516,864 unlisted performance rights, currently subject to ASX restriction, will be released on 4 November 2023.

The voluntary suspension is pending the release of an announcement in relation to corporate financing. Securities will remain in voluntary suspension until the announcement to the market of the completion of the restructure.

The voluntary suspension is pending the release of an announcement in relation to corporate financing as advised in its trading halt request on 1 September 2023 and subsequent voluntary suspensions on 5 September 2023 and 11 September 2023; to allow more time to complete the process. Securities will remain in voluntary suspension until the announcement to the market of the completion of the restructure.

The Company notes that securities will remain in voluntary suspension until the earlier of the announcement to the market of the financing or the commencement of trade on Monday 18 September 2023.

Recent drilling has intersected significant near-surface copper intervals. Oxide mineralisation at McLeod Hill is interpreted to define 3 zones, a low-grade surface copper oxide of ~0.3% Cu, a deeper oxide zone of between ~0.60% Cu to >1% Cu, and an underlying transitional / sulphide zone of >1% Cu. The mineralisation is open and untested to the northwest into the adjoining sub-blocks held by Austral (under EPMA28881 Canyon). These drill results have intersected multiple near-surface zones of mineralisation, further intersections of higher-grade zones, and extending the continuity and resource potential. The McLeod Hill prospect is on an existing ML within 5km of the Austral's SX-EW plant, positive economic levers to further explore and increase this resource. Austral has engaged a third-party to update and potentially increase the JORC compliant Mineral Resource.

The securities of Austral Resources Australia Ltd will be suspended from quotation immediately under Listing Rule 17.2, at the request of AR1, pending the release of an announcement in relation to corporate financing.

listed entity carried for record purposes only