Tenement Track vs spreadsheets
TL;DR: most junior explorers run tenement expenditure and the quarterly Appendix 5B on spreadsheets, and plenty do it well. Spreadsheets cost nothing and bend to any process. The trouble starts when the same spend has to feed several state reports and a company-wide ASX report every quarter, and the copies drift apart. Tenement Track records spend once against each tenement, tracks it against the commitment, and carries it into the Appendix 5B.
At a glance
| Spreadsheets | Tenement Track | |
|---|---|---|
| Cost | Free, or already paid for with Microsoft 365 / Google Workspace | From US$39/month, 14-day free trial |
| Flexibility | Total: any layout, any formula | Fixed to the ASX form and each tenement's rules |
| Tenement spend vs commitment | Built by hand, one sheet or tab per tenement | Register of every tenement with spend, commitment and anniversary date |
| Appendix 5B | Re-assembled each quarter from the spend sheets | Exploration spend (item 1.2(a)) comes from the register; subtotals, Section 4 and Section 8 are calculated |
| Section 8 funding runway | Your own formulas, which need checking | Calculated, with the 8.8 questions flagged when runway is under 2 quarters |
| Deadlines | A calendar reminder you set yourself | Due dates shown per quarter, moved earlier when they fall on a weekend (Listing Rule 19.5) |
| JORC Table 1 | A copied checklist in Word or Excel | Checklist per disclosure, with Competent Person reports and drill data stored alongside |
| Several people working at once | Version conflicts and emailed copies | One shared record with roles for finance, geology and the company secretary |
What spreadsheets do well
They're free, everyone already knows them, and they fit whatever your process is. For an explorer with two or three tenements in one state and one person doing the quarterly report, a well-kept spreadsheet is a reasonable choice. If that's you, our free Appendix 5B Excel template has the subtotals, reconciliation check and Section 8 calculation already built in.
Where they start to break
- The same spend, sorted three ways. Each tenement's state report wants spend against that tenement's commitment year. The Appendix 5B wants the whole company's cash flows for the calendar quarter, in ASX's categories. On spreadsheets that usually means copying and re-sorting the same figures every quarter.
- Figures that should match, but don't. Section 8 reuses items 1.9, 2.1(d), 4.6 and 7.5, and Section 5 must equal item 4.6. Update one cell and miss its copy, and the report no longer agrees with itself. Nothing flags it.
- Different rules in each state. WA sets a minimum per block, South Australia per km² over two-year periods, and Queensland uses an approved work program instead of a dollar figure. A spreadsheet has to encode each one correctly. Compare the states.
- Dates hidden in tabs. Anniversaries, renewals and the quarterly deadline live in different places. A due date that falls on a weekend moves to the Friday before, which is easy to miss.
- More than one person. Finance enters costs, a geologist logs drilling spend, and the company secretary assembles the report. Emailed copies and “final v3” files follow.
What changes with Tenement Track
Spend is recorded once, against a tenement. The register shows each tenement's spend against its commitment and its next anniversary. In the quarterly Appendix 5B, exploration spend (item 1.2(a)) comes straight from those records, Section 8 is calculated from the figures above it, and the follow-up questions are flagged when funding drops under two quarters. A re-keying sheet then lays every figure out in ASX's order for entering into ASX Online. Your spreadsheet history comes with you: prior-year expenditure imports from CSV, and an import can be undone.
What you give up is flexibility. Tenement Track follows the ASX form and each state's rules; it won't hold the rest of your management accounts, and it doesn't replace your accounting software.
When to stay on spreadsheets
A few tenements in one state, one person preparing the quarterly report, and a process that already works. Keep it, and check your figures with the Section 8 calculator and the quarterly reporting calendar.
When to switch
Tenements in more than one state, several people touching the numbers, or a quarter where the Appendix 5B didn't reconcile first time. That's the point where keeping copies in step costs more than US$39 a month.