Artemis Resources Limited — Interim / Quarterly Report 2012

Jul 24, 2012

Appendix 5B Mining exploration entity quarterly report

Rule 5.3

Appendix 5B

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10.

Name of entity

ARTEMIS RESOURCES LIMITED

ABN 80 107 051 749	Quarter ended (“current quarter”)
80 107 051 749	30 JUNE 2012

Consolidated statement of cash flows

Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) administration 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other –settlement on lease surrender/refund ‐legal/consulting fees on asset disposal Net Operating Cash Flows	Current quarter $A’000	Year to date (12 months) $A’000
	(329) (162) 9	(850) (971) 173 (55) (127)
	(482)	(1,830)
Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets 1.9 Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets 1.10 Loans from other entities 1.11 Loans repaid to other entities 1.12 Other – proceeds from farm in agreement ‐ other (reclassified) ‐ loan repaid by other entity Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)	(258) 1 36 250	(437) 71 250
	29	(116)
	(453)	(1,946)

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report
1.13 Total operating and investing cash flows (brought forward)	(453)	(1,946)
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Cost of capital Net financing cash flows
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end ofquarter**	(453) 2,447	(1,946) 3,940
	1,994	1,994

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

1.23 1.24	Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10	Current quarter $A'000
		37
		-
1.25	Explanation necessaryfor an understandingof the transactions
	Consulting fees, directors fees and reimbursement of expenses paid to directors and director related entities.

Non‐cash financing and investing activities

• 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows

• 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest

• See chapter 19 for defined terms.

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Financing facilities available

Add notes as necessary for an understanding of the position.

3.1 Loan facilities 3.2 Credit standby arrangements	Amount available $A’000	Amount used $A’000

Estimated cash outflows for next quarter

4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration	$A’000
	250
	220
Total	470

Reconciliation of cash

Reconciliation of cash
Reconciliation of cash at the end of the quarter (as	Current quarter		Previous quarter
shown in the consolidated statement of cash flows)	$A’000		$A’000
to the related items in the accounts is as follows.
5.1 Cash on hand and at bank		244		697
5.2 Deposits at call		1,750		1,750
5.3 Bank overdraft
5.4 Other (provide details)
Total: cash at end of quarter(item 1.22)		1,994		2,447

Changes in interests in mining tenements

6.1 Interests in mining tenements relinquished, reduced or lapsed	Tenement reference	Nature of interest (note (2)	Interest at beginning ofquarter	Interest at end of quarter

• See chapter 19 for defined terms.

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6.2 Interests in mining tenements acquired or increased	E47/1178 E47/1745 E47/1746 E47/1747 E47/1797 P47/1360 P47/1361 P47/1362 P47/1363 P47/1364 P47/1365 P47/1366 P47/1367 P47/1368 P47/1369 P47/1370 P47/1371 P47/1372 P47/1373 P47/1374 P47/1375 P47/1380 P47/1386 P47/1112 P47/1124 P47/1126 P47/1127 P47/1131 P47/1134 E47/1806 E47/1807 E47/1878 E53/1412 E53/1413 E53/1525 E53/1526 M47/177 M47/288 P47/1518 P47/1519 P47/1520 P47/1619 P47/1620 P47/1622 P47/1652 E47/2583 E47/2645 E47/2652	100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 40% 40% 40% 80% 80% 80% 80% 80% 80% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%	0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%	100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 40% 40% 40% 80% 80% 80% 80% 80% 80% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%

• See chapter 19 for defined terms.

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Issued and quoted securities at end of current quarter

Description includes rate of interest and any redemption or conversion rights together with prices and dates.

	Total number	Number quoted	Issue price per security (see note 3) (cents)	Amount paid up per security (see note 3) (cents)
7.1 Preference +securities (description) 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy‐ backs,redemptions
7.3 +Ordinary securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy‐ backs	481,390,396	481,390,396	Fully Paid	Fully Paid
	156,000,000	156,000,000	$0.012	$0.012
7.5 +Convertible debt securities(description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted
7.7 Options (description and conversion factor) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	10,000,000 1,000,000 3,100,000 833,333 10,000,000	- - - - -	Exercise price 4 cents 7 cents 7 cents 8 cents 4 cents	Expiry date 14 Dec 2014 30 Jun 2013 30 Sep 2013 30 Sep 2013 30 Nov 2014
	3,562,500 250,000 1,350,000	‐ ‐ ‐	15 cents 10 cents 7 cents	30 June 2012 30 June 2012 30 June 2012
7.11 Debentures (totals only)
7.12 Unsecured notes (totals only)

• See chapter 19 for defined terms.

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Compliance statement

• 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4).

• 2 This statement does /does not* (delete one) give a true and fair view of the matters disclosed.

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Sign here: ............................................................ Date: 25 July 2012 (Director/Company secretary)

Guy Robertson Print name: .........................................................

Notes

• 1 The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.

2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.

• 3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities .

• 4 The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.

5 Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

== == == == ==

• See chapter 19 for defined terms.

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