Overview of Tombola Gold's activities for the quarter ending 30 June 2024

Tombola Gold Ltd (ASX: $TBA) provides an overview of its activities for the quarter ending 30 June 2024. The company's Receivers, in collaboration with the Administrators, continue to maintain the Company's tenements and mining leases. Additionally, efforts are being made towards the effectuation of the Deed of Company Arrangement (DOCA) proposed by Goodsail Holdings Pty Ltd.

Executive Commentary on Tombola Gold's Activities

During the quarter, the Company's focus remained on the collaborative efforts between the Receivers and Administrators to maintain the tenements and mining leases. Furthermore, the ongoing work with Goodsail Holdings Pty Ltd towards the effectuation of the DOCA has been a key priority. It's important to note that no exploration or mining activities were conducted during this period, and there was no expenditure in relation to mining, production, or exploration activities. The Company also disclosed nil payments to related parties for the quarter.

Summary of Tombola Gold's Quarterly Activities and Outlook

Tombola Gold's activities for the quarter primarily revolved around the maintenance of its tenements and mining leases, as well as the ongoing efforts towards the effectuation of the DOCA proposed by Goodsail Holdings Pty Ltd. The Company reported no expenditure in relation to mining, production, or exploration activities, and nil payments to related parties for the quarter. Looking ahead, the Company anticipates raising funding upon exiting from administration and receivership, although the timing of this is yet to be determined. Despite the current challenges, the Company remains focused on meeting its business objectives and continuing its operations in the future.