CENTAURUS METALS LIMITED — Interim / Quarterly Report 2004

Oct 26, 2004

27 October 2004

Manager Company Announcements Company Announcements Office Australian Stock Exchange Limited Level 10, 20 Bond Street SYDNEY NSW 2000

Dear Sir/Madam

ANNOUNCEMENT

We enclose Appendix 5B, Mining exploration entity quarterly report for the period ending 30 September 2004.

Yours faithfully

Claris

ALLANT HARRIS Director

GLENGARRY RESOURCES LIMITED ABN 40 009 468 099 Telephone: (08) 9322 4929 Facsimile: (08) 9322 5510 PO Box 975, West Perth, WA 6872 35 Havelock Street, West Perth, WA 6005 Website: www.glengarrynl.com.au Email: info@glengarrynl.com.au

Appendix 5B

Rule 5.3

Mining exploration entity quarterly report

Current quarter

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

Name of entity

GLENGARRY RESOURCES LIMITED

ACN or ARBN

40 009 468 099

Quarter ended ("current quarter")

30 SEPTEMBER 2004

Year to date (12 months)

Consolidated statement of cash flows

Cash flows related to operating activities		\$A'000	\$A'000
1.1	Receipts from product sales and related debtors
1.2	Payments for (a) exploration and evaluation (b) development (c) production		(318)	(318)
		(d) administration	(143)	(143)
1.3	Dividends received
1.4	Interest and other items of a similar nature received		14	14
1.5	Interest and other costs of finance paid
1.6	Income taxes paid
1.7	Other (provide details if material)
	Net Operating Cash Flows		(447)	(447)
	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	100	100
		(c)other fixed assets	17	17
1.10	Loans to other entities
1.11	Loans repaid by other entities
1.12	Other (provide details if material) - Security deposits		(5)	(5)
	Net investing cash flows		112	112
1.13	Total operating and investing cash flows (carried forward)		(335)	(335)

$\div$ See chapter 19 for defined terms.

1.13	Total operating and investing cash flows (brought forward)
	Cash flows related to financing activities
1.14	Proceeds from issues of shares, options, etc.	398.	398.
1.15	Proceeds from sale of forfeited shares
1.16	Proceeds from borrowings
1.17	Repayment of borrowings
1.18	Dividends paid
1.19	Other (provide details if material)
	Net financing cash flows	398	398
	Net increase (decrease) in cash held	63	63
1.20	Cash at beginning of quarter/year to date	1,224	1,224
1.21	Exchange rate adjustments to item 1.20
1.22	Cash at end of quarter	1,287	1,287

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

		Current quarter \$A'000
1.23	Aggregate amount of payments to the parties included in item 1.2	151
1.24	Aggregate amount of loans to the parties included in item 1.10
1.25	Explanation necessary for an understanding of the transactions

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

$\div$ See chapter 19 for defined terms.

Financing facilities available
Add notes as necessary for an understanding of the position.

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

Estimated cash outflows for next quarter

	Total	300
4.2	Development
4.1	Exploration and evaluation	300
		\$A'000

Reconciliation of cash

	Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.	Current quarter \$A'000	Previous quarter \$A'000
Cash on hand and at bank 5.1		3	3
Deposits at call 5.2		1,284	1.221
Bank overdraft 5.3
5.4	Other (provide details) - Security deposit
Total: cash at end of quarter (item 1.22)		1,287	1,224

Changes in interests in mining tenements

		Tenement reference	Nature of interest (note (2))	Interest at beginning of quarter	Interest at end of quarter
6.1	Interests in mining tenements relinquished, reduced or lapsed
6.2	Interests in mining tenements acquired or increased	Burges 2 (EPM 12961)	Granted 2 September 2004	100%	100%

• See chapter 19 for defined terms.

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
7.2	(description) Changes during
	quarter
	(a) Increases
	through issues (b) Decreases
	through returns of
	capital, buy-backs, redemptions
7.3	*Ordinary
	securities	137,995,309	137,995,309
7.4	Changes during quarter
	(a) Increases through issues	11,688,158	11,688,158	3.5	3.5
	(b) Decreases
	through returns of
7.5	capital, buy-backs *Convertible debt
	securities
	(description)
7.6	Changes during quarter
	(a) Increases through issues
	(b) Decreases
	through securities
7.7	matured, converted Options			Exercise price	Expiry date
	(description and conversion factor)	56,285,775	54,685,775	$\star$	$\star\star$
7.8	Issued during quarter
7.9	Exercised during quarter
7.10	Expired during quarter
7.11	Debentures
	(totals only)			$15$ cents 5 cents	54,685,775 ** 31 March 2005 600,000 ** 8 March 2006
7.12	Unsecured notes (totals only)			$*10$ cents	500,000 ** 18 February 2005
				$*$ 15 cents	500,000 ** 18 February 2006

$\pm$ See chapter 19 for defined terms.

Compliance statement

• This statement has been prepared under accounting policies which comply with accounting $\mathbf{1}$ . standards as defined in the Corporations Law or other standards acceptable to ASX (see note 4).
• $\overline{2}$ . This statement does give a true and fair view of the matters disclosed.

(Director/Company secretary)

Date: 27 October 2004

Sion here:

Print name:

ALLAN THOMAS HARRIS

Notes

• $\mathbf{1}$ 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.
• $\overline{2}$ . 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.
• 1. 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.
• The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 4 1026: Statement of Cash Flows apply to this report.
• 1. 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.

ATTACHMENT 1

Aggregate amounts of transactions with directors and their director related entities for the three months ending 30 September 2004 were:

	S
Superannuation	10,539
Consulting Fees	25,988
Directors' Fees	25,456
Directors' Salaries	88,775
TOTAL	150,758

== == == == ==

$\pm$ See chapter 19 for defined terms.