Expenditure Report for Exploration Licences - Schedule 14

Mineral Resources Development Regulations 2002 - Regulation 26

The Expenditure Report is to be submitted in Digital and Hardcopy format concurrently with the Technical Report, but must not be incorporated in the main body of the report. In section 5, you should provide a breakdown of the expenditures within each category and complete the Data and Format details. Work for which a claim is made in the expenditure report must be described in detail in the technical report.

Under Wages and Salaries you may include the costs of the licensee’s own labour associated with the operation up to $25,000 per annum. To claim an amount above $25,000 will require verification to substantiate the claim, e.g. evidence of qualifications/ experience/hours worked/rates of pay.
Insurance, Departmental fees (except rent), bonds, transfer costs, legal costs, royalties, advertising, preparing a company prospectus, Title Searches and Fines are not allowable expenses.

Allowable Overhead costs include rent, office supplies, photocopying, tenement management, Aboriginal Heritage Surveys, equipment maintenance, accommodation, construction materials, field materials and administrative costs (including power, explosives and other non-capital items or services). An acceptable level of Overheads should not be more than 20% of the total claim. Accommodation claims should include attaching details e.g. period of accommodation, number of people, location of accommodation etc.

Section 1: Exploration licence number and operation name: (One licence only per form)

Section 2: Period covered by this return

Section 3: If accompanying an Annual Technical report, give

Section 4: Locality of Operation

Section 5: Work program for the next 12 months (describe)

Section 6: Summary of Operations and Expenditure

Indicate where work has been done with a “tick” and the corresponding expenditure. Complete Section 7 if you need to provide further details of work done. Complete the right-hand columns to indicate the data supplied with the Technical Report.

Section 7: Comments on work done including administrative matters relating to exploration on the licence during the reporting period, including progress on landowner compensation agreements, purchase of equipment, timing of surveys, etc:

Attach additional page if insufficient space

I have attached the Technical report