CYCLIQ GROUP LTD — Interim / Quarterly Report 2010

Mar 11, 2010

Appendix 5B Mining exploration entity monthly report

Rule 5.3

Appendix 5B

Mining Exploration Entity Monthly Report

Origin: Appendix 8

Name of Entity

MODENA RESOURCES LIMITED

ACN or ARBN

119 749 647

Month Ended (“Current Month”)

28 Februar 2010 y

Consolidated Statement of Cash Flows

==> picture [507 x 430] intentionally omitted <==

----- Start of picture text -----

Current Month Year to Date
Cash Flows Related to Operating Activities (8 months)
$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 - (2)
(d) administration (121) (893)
1.3 Dividends received - -
1.4 Interest and other items of a similar nature received 2 4
1.5 Interest and other costs of finance paid - (297)
1.6 Income taxes paid - -
1.7 Other (provide details if material) - -
Net Operating Cash Flows (119) (1,188)
Cash Flows Related to Investing Activities
1.8 Payment for purchases of: (a)prospects - -
(b)equity investments - (358)
(c) other fixed assets - -
1.9 Proceeds from sale of: (a)prospects - 300
(b)equity investments 94 542
(c)other fixed assets - -
1.10 Loans to other entities - -
1.11 Loans repaid by other entities - -
1.12 Other - -
Net Investing Cash Flows 94 484
1.13 Total operating and investing cash flows (carried forward) (25) (704)
----- End of picture text -----

Appendix 5B Page 1

• See chapter 19 for defined terms.

Appendix 5B Mining exploration entity monthly report

1.13Totaloperating andinvesting cash flows (brought forward)	(25)	(704)
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 Other (provide details if material) – share issue costs Net Financing Cash Flows	- - - - - -	1,060 - 255 - - (30)
	-	1,285
Net Increase (Decrease) in Cash Held 1.20 Cash at beginning of monthyear to date 1.21 Exchange rate adjustments to 19 1.22 Cash at End of Month	(25) 739 -	581 133 -
	714	714

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 Aggregate amount of payments to the parties included in item 1.2

• 1.24 Aggregate amount of loans to the parties included in item 1.10

Current month $A’000 20 -

• 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

.Appendix 5B Page 2

• See chapter 19 for defined terms

Appendix 5B Mining exploration entity monthly report

Financing Facilities Available

Add notes as necessary for an understanding of the position.

Financing Facilities Available Add notes as necessary for an understanding of the position.
3.1 Loan facilities 3.2 Creditstandby arrangements	Amount Available $A	Amount Used $A
	NIL
	NIL

Estimated Cash Outflows for Next Month

Estimated Cash Outflows for Next Month
4.1 Exploration and evaluation 4.2 Development	$A’000
	50
	-
Total	50

Reconciliation of Cash

Reconciliation of Cash
Reconciliation of cash at the end of the month (as shown in the consolidated statement of cash flows) to the related itemsin the accountsis asfollows.	Current Month $A’000	Previous Month $A’000
5.1 Cash on hand and at bank 5.2 Deposits at call 5.3 Bank overdraft 5.4 Other (provide details)	714	739
	-	-
	-	-
	-	-
Total: Cash at End of Month(item 1.22)	714	739

Changes in Interests in Mining Tenements

Tenement Reference	Nature of Interest	Interest at beginning of month	Interest at end of month

Appendix 5B Page 3

• See chapter 19 for defined terms.

Appendix 5B Mining exploration entity monthly report

Issued and Quoted Securities at End of Current Month

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

			Number Issued	Number Issued	Number Quoted	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 Changes duringmonth
	7.3 ~~+~~Ordinary Securities 7.4 Changes during month (a) Increases through issues (b) Decreases through returns of capital, buy-backs		114,950,600		114,950,600
			9,000,000		9,000,000		4	4
	7.5 ~~+~~Convertible Debt Securities 7.6 Changes during month (a) Conversion (b) Repayment		1,306,014 # 1,244,444 # 3,085,714 # 10,000,000 #		- - - -		$0.35 face value $0.45 face value $0.35 face value $0.25 face value	$0.35 face value $0.45 face value $0.35 face value $0.25 face value
	7.7 Options (description) 7.8 Issued during month 7.9 Exercised during month 7.10 Expired duringmonth		68,428,622		68,428,622		Exercise Price 20 cents	Expiry Date 30 June 2010
	7.11 Debentures
	7.12 Unsecured Notes
	# Theprinciple terms of the Notes are as follows:
	Number:	1,306,014		1,244,444		3,085,714		10,000,000
	Face value:	$457,105		$560,000		$1,080,000		$2,500,000
	Redemption date:	31/01/2011		28/02/2010		30/09/2010		29/01/2011
	Conversion price:	The lesser of 35 cents or 85% of 5 day average market price		The lesser of 45 cents or 85% of 5 day average market price		The lesser of 35 cents or 85% of 5 day average market price		The lesser of 25 cents or 80% of 30 day weighted average market price
	Interest rate:	10.5%		12.0%		10.0%		12.0%

.Appendix 5B Page 4

• See chapter 19 for defined terms

Appendix 5B Mining exploration entity monthly 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.

• 2 This statement does give a true and fair view of the matters disclosed.

Sign here: C S Willis Date 12 March 2010 Director

Print name: Craig Willis

= = = = =

Appendix 5B Page 5

• See chapter 19 for defined terms.