COPPERMOLY LIMITED — Interim / Quarterly Report 2014

Jul 30, 2014

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report Rule 5.5

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/2013

Name of entity

Name of entity	Name of entity	Name of entity
COPPERMOLY LIMITED
ABN		Quarter ended ("current quarter")
54 126 490 855		30June 2014

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 (provide details if material) Net Operating Cash Flows	Current quarter $A'000	Year to date (12 months) $A'000
	- (228) - - (136) - 1 (1) - -	- (946) - - (719) - 1 (1) - -
	(364)	(1,665)
Cash flows related to investing activities 1.8 Payment for purchase 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 to other entities 1.11 Loans repaid by other entities 1.12 Other (provide details if material) Net Investing Cash Flows 1.13 Total operating and investing cash flows (carried forward)	- - - - - - - - (3)	(680) - (5) - - - - - (8)
	(3)	(693)
	(367)	(2,358)

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

1.13 Total operating and investing cash flows (brought forward)	(367)	(2,358)
Cash flows related to financing activities 1.14 Proceeds from issue 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 Other (provide details if material) Repayment of Convertible Notes Capital raising costs Net financing cash flows	461 - - (8) - - (82)	2,924 - 25 (16) - (250) (472)
	371	2,211
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	4 91 (4)	(147) 242 (4)
	91	91

Payments to directors of the entity, associates of the directors, 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
		80
1.25	Explanation necessaryfor an understandingof the transactions
	Directors' fees and executive salaries.

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 reportingentityhas an interest.

• See chapter 19 for defined terms.

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Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Financing facilities available

Add notes as necessary for an understanding of the position

Amount available Amount used $A'000 $A'000

3.1 Loan facilities 3.2 Credit standby arrangements

Estimated cash outflows for next quarter

Estimated cash outflows for next quarter
4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration	$A'000
	200 *
	-
	-
	200
Total	400

• subject to sufficent funding

Reconciliation of cash

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. 5.1 Cash on hand and at bank 5.2 Deposits at call 5.3 Bank overdraft 5.4 Other (provide details)	Current quarter $A'000	Previous quarter $A'000
	91	91
	-	-
	-	-
	-	-
Total: cash at end ofquarter (item 1.22)	91	91

Changes in interests in mining tenements and petroleum tenements

• 6.1 Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed

• 6.2 Interests in mining tenements and petroleum tenements acquired or increased

Tenement Reference	Nature of Interest (note(2))	Interest at beginning ofquarter	Interest at end of quarter
EL 2272 Wowonga	Granted by MRA, PNG for 2 years commencing 25 February 2014	0%	100%

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

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	Numberquoted	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	Nil	Nil
7.3 +Ordinary securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital,buy-backs	286,837,649	286,837,649
	23,044,078	23,044,078
7.5 +Convertible debt securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured,converted
7.7 Options conversion factor) 7.8 Issued during quarter 7.9 Exercised during quarter 7.1 Expired/cancelled during quarter (description and	4,308,329 3,373,008 2,000,000	Nil 3,373,008 Nil	Exercise price 5 cents 5 cents 5 cents	Expiry date 01-Jul-15 01-Jul-15 04-Feb-16
	4,308,329 3,373,008	Nil 3,373,008	5 cents 5 cents	01-Jul-15 01-Jul-15
7.11 Debentures (totals only)
7.12 Unsecured notes (totals only)

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

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 5).

• 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: July 31, 2014
( Director/ Company Secretary)
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Print name: Paul Schultz

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. Any 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 and petroleum 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 or petroleum tenement, it should disclose the change of percentage interest and conditions precedent in the list required for 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 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.

• 5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting 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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