Half-year Report to 31 December 2016
Adelaide, Mar 2, 2017 AEST (ABN Newswire) - The Directors of Core Exploration Ltd (
ASX:CXO) present their Report together with the financial statements of the consolidated entity, being Core Exploration ("Core" or "the Company") and its controlled entities ("the Group") for the half year ended 31 December 2016 and the Independent Review Report.
REVIEW OF OPERATIONS AND FINANCIAL RESULTS
Core Exploration Ltd holds exploration projects comprising prospective tenements in the highly prospective geology in the Northern Territory and world-class mining provinces in South Australia.
The Company's project areas are focused on targets within prospective geological terrains for lithium, base metals and uranium in Northern Territory and South Australia, which host world-class mining operations including Olympic Dam and Four Mile and Beverley uranium mines.
In the half year to 31 December 2016, Core continued its exploration programs at its 100%-owned tenements in the Finniss region in the Northern Territory.
The net loss of the Company, from the six months to 31 December 2016, was $878,544.
During the period, the Company raised $9.0 million through a share placement and share purchase plan to progress the Group's lithium projects.
During the period, the Group issued 1,086,957 Shares upon completion of the agreement to acquire Exploration Licence EL 29698 at the Finniss Lithium Project in the Northern Territory. Further, the Group issued 1,000,000 shares and paid $85,000 as consideration for the acquisition of Exploration Licence EL 31058 in the Northern Territory.
To view the full report, please visit:
http://abnnewswire.net/lnk/RQJCAE94
About Core Lithium Ltd
Core Lithium Ltd (ASX:CXO) is an Australian hard-rock lithium company that owns the Finniss Lithium Operation on the Cox Peninsula, south-west and 88km by sealed road from the Darwin Port, Northern Territory. Core's vision is to generate sustained shareholder value from critical minerals exploration and mining projects underpinned by strong environmental, safety and social standards.
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