All Bad

As announced to the market on October 31, the Company has completed a share placement for 25,000,000 shares at $0.02 to raise a total of $500,000. It is planned that shareholders will be entitled to apply for new shares on the same terms as the placement, should the Company proceed with announcing a transaction.

	Column 1	Column 2	Column 3
1
2	5.1  Bank balances 5.2  Call deposits 5.3  Bank overdrafts 5.4  Other (provide details) 5.5  Cash and cash equivalents at end of quarter (should equal item 4.6 above)	6 50	6 50
3	56	56

	Column 1	Column 2
1	9. Estimated cash outflows for next quarter	$A’000
2	9.1  Exploration and evaluation 9.2  Development 9.3  Production 9.4  Staff costs 9.5  Administration and corporate costs 9.6  Other (provide details if material) 9.7  Total estimated cash outflows	15 15
3		30