Flinders Mines Provides Update on PIOP Maturation Programme and Retraction

As announced on 31 March 2017, a strategic review was undertaken by Flinders to identify the best path forward to unlock the value of the PIOP assets.

At that time, the Company noted it was targeting an annual production rate of approximately 45Mtpa for a life of 14 years subject to further maturation test work and external infrastructure solutions. The Company has since become aware that this production related statement may constitute a “production target” as defined in the ASX listing rules, which requires disclosure of additional information pursuant to Chapter 5 of the ASX listing rules.

Given the time that has elapsed since making that production related statement and the subsequent findings of the maturation programme, the Company does not at this stage intend to meet the disclosure requirements for that earlier production related statement. As a result, Flinders retracts the production related statement made on 31 March 2017 and advises that this information should be disregarded. Investors should not rely on the retracted information as the basis for an investment decision.

The Company is not presently in a position to provide a production target as defined in the ASX listing rules as further mine planning, infrastructure inputs and financial modelling is required to confirm a production target and mine life estimate. To date, the Company has been unable to progress infrastructure discussions.


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