DART MINING NL — Interim / Quarterly Report 2012

Apr 25, 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.

Name of entity

DART MINING NL

ABN 84 119 904 880

Quarter ended (“current quarter”) 31 March 2012

Consolidated statement of cash flows

1.1 1.2 Payments for (a) exploration and 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 Cash flows related to operating activities Receipts from product sales and related debtors 1.6 Income taxes paid 1.7 Other (provide details if material) Net operating cash flows 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 1.11 1.12 1.13 Net investing cash flows Total operating and investing cash flows (carried forward) Loans to other entities Loans repaid by other entities Other (provide details if material)	Current quarter $A’000	Year to date (9 months) $A’000
	(397) - - (332) - 12 - - -	(1,269) - - (733) - 41 - - -
	(717)	(1,961)
	- - (1) - - - - - -	- - (17) - - - - - -
	(1)	(17)
	(718)	(1,978)

• See chapter 19 for defined terms. Appendix 5B Page 1

Appendix 5B Mining exploration entity quarterly report

1.13 Total operating and investing cash flows (brought forward)	(718)	(1,978)
1.14 1.15 1.16 1.17 1.18 1.19 1.20 1.21 1.22 Cash at end of quarter Proceeds from sale of forfeited shares Proceeds from borrowings Repayment of borrowings Dividends paid Other (provide details if material) - Capital raising costs Net financing cash flows Cash flows related to financing activities Proceeds from issues of shares, options, etc. Net increase (decrease) in cash held Cash at beginning of quarter/year to date Exchange rate adjustments to item 1.20	724 - - - - (139)	2,883 - - - - (180)
	585	2,703
	(133) 2,002	725 1,144
	1,869	1,869

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 1.11	Current quarter $A’000
		(170)
		N/A
1.25	Explanation necessary for an understanding of the transactions
	Payments to Directors and related entities North East Geological Contractors P/L - 1.2 (a) ResourcesLaw - 1.2 (d) L Ward - 1.2 (a) L Ward - 1.2 (d) D Turnbull - 1.2 (a) C Bain - 1.2 (d) S Poke - 1.2(d)	7 13 17 51 47 22 13
	Total	170

• See chapter 19 for defined terms. Appendix 5B Page 2

Appendix 5B Mining exploration entity quarterly report

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

N/A

• 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

N/A

Financing facilities available

Add notes as necessary for an understanding of the position.

3.1 Loan facilities 3.2 Credit standby arrangements 3.3 New share issue	Amount available $A’000	Amount used $A’000
	-	-
	-	-
	-	-
Estimated cash outflow for next quarter 4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration		$A’000
		(1,436)
		-
		-
		(212)
Total		(1,648)

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.	Current quarter $A’000	Previous quarter $A’000
5.1 5.2 5.3 5.4 Deposits at call Bank overdraft Other (security bonds) Cash on hand and at bank	967	1,111
	817	806
	-	-
	85	85
Total: cash at end of quarter(item 1.22)	1,869	2,002

• See chapter 19 for defined terms.

Appendix 5B Page 3

Appendix 5B Mining exploration entity quarterly report

Changes in interests in mining tenements

6.1 Interests in mining tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements acquired or increased

ments
Tenement reference	Nature of interest (note (2) )	Interest at beginning of quarter	Interest at end of quarter

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.

7.1 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs, redemptions Preference +securities(description)	Total number	Number quoted	Issue price per security (see note 3 ) (cents)	Amount paid up per security (see note 3) (cents)
7 3 +Ordinary securities Fully . paid 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs, redemptions (c)Off restriction	157,510,951
	5,039,794		10.0 cents
7.5 +Partly Paid Ordinary securities 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted
7.7 7.8 7.9 7.10 Options(description and conversion factor) Issued during quarter Exercised during quarter Underwritten Expired during quarter	8,350,000		Exercise price 15.0 cents	Expiry date 31 December 2013
7.11 Debentures(totals only)
7.12 Unsecured notes (totals only)

• See chapter 19 for defined terms.

Appendix 5B Page 4

Appendix 5B Mining 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 4).

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

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Sign here: ............................................................................... Date: 26 April 2012 (Company secretary) Print name: Andrew Draffin

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 Interenational 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.

6. See chapter 19 for defined terms. Appendix 5B Page 5