DEVELOP GLOBAL LIMITED — Interim / Quarterly Report 2007

Apr 25, 2007

Consolidated Pro-forma Balance Sheet

		19th April 2007	On Listing
		S	\$
Current Assets
Cash and cash equivalents	1	10,555	3,381,793
Trade and other receivables		7,096	7,096
Total Current Assets		17,651	3,388,889
Non-Current Assets
Exploration Expenditure Capitalised	2	164,960	1,942,819
Other non-current assets		17,858	17,858
Total Non-Current Assets		182,818	1,960,677
Total Assets		200,469	5,349,566
Current Liabilities
Trade and other payables		52,680	52,680
Total Current Liabilities		52,680	52,680
Total Liabilities		52,680	52,680
Net Assets		147,789	5,296,886
Equity
Parent Interest
Contributed Equity	3	286,402	5,435,499
Accumulated losses		(138, 613)	(138, 613)
Parent interest		147,789	5,296,886
Minority Interest
Total Equity		147,789	5,296,886

Notes to pro-forma Balance Sheet

1. Cash and cash equivalents	On Listing
	\$
Cash as at 19/04/2007	10.555
Gross Proceeds of IPO issue	4,000,000
Less:
Costs of capital raising (Total \$417,600, Paid \$53,838)	(363,762)
Acquisition of Tenement	(265,000)
Cash and cash equivalents - pro-forma	3,381,793

Jutt Holdings Limited
Tel. +61 (0)8 9367 6855
Email: admin@juttholdings.com

Notes to pro-forma Balance Sheet

2. Exploration Expenditure Capitalised

	On Listing S
Exploration Expenditure Capitalised as at 19/04/2007 Acquisition by share issue (7,564,296 shares @\$0.20) Acquisition by cash payment	164,960 1,512,859 265,000
Exploration Expenditure Capitalised - pro-forma	1,942,819
3. Contributed Equity
Value of Equity on Issue	On Listing \$
Balance as at 19/04/2007 Add	340,240
Gross Proceeds of IPO issue Costs of capital raising	4,000,000 (417, 600)
Vendor shares/options issue	1,512,859
Contributed Equity value of shares - pro-forma	5,435,499
Number of Ordinary Shares on Issue
Balance as at 19/04/2007	On Listing 15,716,001
IPO issue Vendor Shares issue	20,000,000 7,564,296
Contributed equity number of shares - pro-forma	43,280,297
Number of Unlisted Options on Issue
Balance as at 19/04/2007	On Listing
Vendor Options issue Options Issue as per director's service agreement	1,457,148 500,000
Contributed equity number of options - pro-forma	1,957,148