14 Jan

Addendum Q3-21 Qtly Report - Expenditure v IPO Use of Funds

Error! Unknown document property name. Page 1 ASX:FRS 14 January 2022 Quarterly Expenditure Review Compared with IPO “Use of Funds” In accordance with ASX LR 5.3.4, Forrestania Resources Ltd provides a summary of its expenditure for the quarter ending 30 September 2021 compared with its “Use of Funds” statement in the IPO Prospectus dated 19 August 2021. This information was omitted from the Quarterly Activity Report filed on 29 October 2021. Yr 1 Use of Funds (Section 2.7 of Prospectus) (A$,000) Q1 Funds used (A$’000) Funds Used Total to Date (A$’000) Exploration Expenditure 1 858 182 182 Vendor Payments 310 326 326 Loan Repayments 2 164 197 197 Directors Fees 3 122 66 66 Expense of offer 4 582 406 406 General admin. fees and working capital 5 829 335 335 TOTAL 2,865 1,512 1,512 Commentary: Values stated above are on a cash basis to reconcile with cashflow statement. 1. Exploration activities for the quarter ending 30 September 2021 consisted of field and review work associated with tenements pre-listing; 2. Loans include interest payments which were not allowed for in Prospectus. 3. Director fees included payment of accrued consulting fees to Director prior to IPO which were not included as part of director fee expenses in prospectus use of funds but which were recorded as payments to directors in quarterly cash flow statement; 4. Additional offer expenses were paid in Q4-21; 5. Administration costs included various costs accrued prior to IPO; -Ends- This announcement has been authorised for release by the Board of Directors. For further information, please contact: Simon Adams Company Secretary Forrestania Resources Limited Tel: +61 (0)8 6391 0112 Email: simon@forrestaniaresources.com.au
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