DART MINING NL — Interim / Quarterly Report 2011

Oct 27, 2011

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	Quarter ended ("current quarter")
84 119 904 880	30 September 2011

Consolidated statement of cash flows

			Current quarter \$A'000	Year to date $(12$ months)
	Cash flows related to operating activities			\$A'000
1.1	Receipts from product sales and related debtors
1.2	Payments for	(a) exploration and evaluation (b) development	(444)	(444)
	(c) production	(d) administration	(319)	(319)
1.3	Dividends received
1.4	Interest and other items of a similar nature received		5	5
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		(758)	(758)
	Cash flows related to investing activities
1.8	Payment for purchases of: (a) prospects
		(b) equity investments
		(c) other fixed assets	(27)	(27)
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		(27)	(27)
1.13	(carried forward)	Total operating and investing cash flows	(785)	(785)

$+$ See chapter 19 for defined terms.

1.13	Total operating and investing cash flows (brought forward)	(785)	(785)
1.14 1.15 1.16 1.17 1.18	Cash flows related to financing activities Proceeds from issues of shares, options, etc. Proceeds from sale of forfeited shares Proceeds from borrowings Repayment of borrowings Dividends paid	1,100	1,100
Other (provide details if material) – IPO Costs 1.19 Net financing cash flows
$\circ$ 1.20	Net increase (decrease) in cash held Cash at beginning of quarter/year to date	315 1.144	315 1,144
1.21 $\overline{22}$	Exchange rate adjustments to item 1.20 Cash at end of quarter	1,459	1,459

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	(156)
1.24	Aggregate amount of loans to the parties included in item 1.10
1.25	Explanation necessary for an understanding of the transactions Payments to Directors and related entities

r avincius to Directors and related entities
North East Geological Contractors $P/L - 1.2$ (a)
Edrill $P/L - 1.2$ (a)
ResourcesLaw $-1.2$ (d)
Draffin Walker $-1.2$ (d)
L Wards $-1.2$ (d)	55
D Turnbull $-1.2$ (a)	40
C Bain $-1.2$ (d)	22
S Poke $-1.2$ (d)

$+$ See chapter 19 for defined terms.

Non-cash financing and investing activities

• Details of financing and investing transactions which have had a material effect on consolidated $2.1$ assets and liabilities but did not involve cash flows
• Details of outlays made by other entities to establish or increase their share in projects in which the $2.2$ reporting entity has an interest

Financing facilities available

Í,

l,

$3.1$

$3.2$

$3.3$

Add notes as necessary for an understanding of the position.

	Amount available SA'000	Amount used \$A'000
Loan facilities
Credit standby arrangements
New share issue

Estimated cash outflows for next quarter

		\$A'000
4.1	Exploration and evaluation	446
4.2	Development	۰
4.3	Production	$\overline{\phantom{a}}$
4.4	Administration	178
	Total	624

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 SA'000	Previous quarter A'000
5.1	Cash on hand and at bank	161	596
5.2	Deposits at call	1,250	500
5.3	Bank overdraft
5.4	Other (security bonds)	48	48
	Total: cash at end of quarter (item 1.22)	1.459	1,144

⁺ See chapter 19 for defined terms.

Changes in interests in mining tenements

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

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	+ securities Preference (description)
7.2	Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs, redemptions
7.3	+ Ordinary securities Fully paid	140,088,830	140,088,830
7.4	Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs (c) Off restriction	20,250,514
7.5	+ Partly Paid Ordinary securities
7.6	Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted
7.7	Options (description and conversion factor)	5,000,000 15,422,121	15,422,121	Exercise price $15.0$ cents $10.0$ cents	Expiry date 31 December 2013 31 December 2011
7.8	Issued during quarter		L,
7.9	Exercised during quarter	162,500	÷,
7.10	Expired during quarter		ä,
7.11	Debentures (totals only)
7.12	Unsecured notes (totals only)

$+$ See chapter 19 for defined terms.

Compliance statement

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

Sign here:	Date: 28 October 2011 $1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.$
	(Company secretary)

Print name: Andrew Draffin

Notes

• The quarterly report provides a basis for informing the market how the entity's $\mathbf{1}$ 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.
• The "Nature of interest" (items 6.1 and 6.2) includes options in respect of interests in $\overline{2}$ 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.
• Issued and quoted securities The issue price and amount paid up is not required in $\overline{3}$ items 7.1 and 7.3 for fully paid securities.
• The definitions in, and provisions of, AASB 1022: Accounting for Extractive $\overline{4}$ Industries and AASB 1026: Statement of Cash Flows apply to this report.
• Accounting Standards ASX will accept, for example, the use of International 5 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.

$z = z = z = z = z$

⁺ See chapter 19 for defined terms.