DEVELOP GLOBAL LIMITED — Interim / Quarterly Report 2009

Mar 11, 2009

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VENTUREX RESOURCES LIMITED (formerly Jutt Holdings Limited)

ABN 28 122 180 205

Appendix 4D Interim Financial Report

For the Half Year Ended 31 December 2008

(previous corresponding period: Half Year Ended 31 December 2007)

To be read in junction with the 30 June 2008 Annual Report. In compliance with Listing Rule 4.2A.

Interim Financial Report Year Ended 31 December 2008

Venturex Resources Limited 28 122 180 205

Corporate Directory

DIRECTORS

Allan Trench Non-Executive Chairman Tim Sugden Managing Director Michael Mulroney Non-Executive Director

COMPANY SECRETARY

Liza Carpene

REGISTERED & PRINCIPAL OFFICE

Level 1 35 Richardson Street West Perth WA 6005, Australia

Tel: (61 8) 6424 9188 Fax: (61 8) 9463 7836

AUDITORS

Webb Audit Pty Ltd 465 Auburn Road Hawthorn East VIC 3123, Australia

SHARE REGISTRY

Advanced Share Registry 150 Stirling Highway Nedlands WA 6009, Australia

QUOTED SECURITIES

Code: JUT Shares JUTO Options JUTOA Options

Tel: (61 8) 9389 8033 Fax: (61 8) 9389 7871

WEBSITE

www.venturexresources.com

Table of Contents

Directors’ Report .................................................................................................................................................... 1 Auditors’ Independence Declaration ...................................................................................................................... 3 Appendix 4D for the Half Year Ended 31 December 2008 ..................................................................................... 4 Consolidated Income Statement for the Half Year Ended 31 December 2008 ...................................................... 5 Consolidated Balance Sheet as at 31 December 2008 ........................................................................................... 6 Consolidated Statement of Changes in Equity for the Half Year Ended 31 December 2008 ................................. 7 Consolidated Cash Flow Statement for the Half Year Ended 31 December 2008 ................................................. 8 Notes to the Financial Statements ......................................................................................................................... 9 Directors’ Declaration ........................................................................................................................................... 11 Independent Auditor’s Review Report ................................................................................................................. 12

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Interim Financial Report Year Ended 31 December 2008

Venturex Resources Limited 28 122 180 205

Directors’ Report

Your Directors present their report on the consolidated entity consisiting of Venturex Resources Limited and the entities it controlled at the end of, or during, the half year ended 31 December 2008.

Directors

The following persons were Directors of Venturex Resources Limited during the whole of the half-year and up to the date of this report:

Dr Allan Trench Non-Executive Chairman Appointed 12 November 2008 Dr Tim Sugden Managing Director Appointed 18 August 2008 Mr Michael Mulroney Non-Executive Director Appointed 9 June 2008 Mr Cyril Geach Exploration Director Appointed 30 January 2007, Resigned 18 August 2008 Mr Charles Morgan Non-Executive Chairman Appointed 21 December 2006, Resigned 3 November 2008 Mr Ayaz Khan Non-Executive Director Appointed 13 October 2006, Resigned 12 November 2008

Review of Operatons

During the half year ended 31 December 2008, a number of changes occurred to the Management and Board of Venturex Resources Limited (formerly Jutt Holdings Limited). Following the appointment of Dr Tim Sugden as Managing Director, a strategic review of the Company’s assets and commitments was undertaken which resulted in the following actions being initiated:

• Cash preservation measures implemented through minimal overhead expenditure;

• Withdrawal from non-core or non-managed joint ventures;

• Exploration focus on the 70%-owned Liberty-Indee Project; and

• Evaluation of new business opportunities

A full review of expenditure resulted in cost cutting measures being put in place to reduce the operating expenses by 50%. This included a reduction in Directors’ fees.

The Company withdrew from a joint venture on the Onslow copper-lead-silver project which was managed by Onslow Metals Pty Ltd. The decision to withdraw was influenced by high administrative and logistical overheads, and reduced expectations for a resource large enough to support a production centre. The Company also withdrew from the Tay-Munglinup nickel sulphide joint venture with Minemakers.

An option agreement to sell the Kooline and Tarrawarra silver-lead projects to an unrelated third party for cash and shares lapsed on 31 December 2008. The Kooline Project is located in the Gascoyne-Ashburton region between the Yilgarn and Pilbara cratons and the Tarrawarra tenement is located in the Carnarvon Basin. The Company is now re-evaluating both projects and expects to either divest and/or conduct basic fieldwork and sampling programs.

Due to volatile market conditions, Liberty Mining Corporation Pty Ltd agreed to revoke the exercise of an option to acquire an additional 20% interest in the Liberty-Indee Project for a break fee of 4,500,000 shares subject to the Company raising $900,000 before 31 January 2009; and undertaking to spend $200,000 on the Liberty-Indee Project before 30 June 2009. The fund raising condition was achieved on 30 January 2009.

The Company’s exploration focus is directed on its 70% holding in the Liberty-Indee Project which is located 50km south of Whim Creek in the Pilbara region of Western Australia. Preliminary flotation test work was undertaken by Mineral Engineering Services Pty Ltd and demonstrated that the ore has a conventional response to treatment. The next phase of RC and diamond drilling is expected to commence in the June 2009 quarter, focussing on the broad fixed loop electromagnetic anomaly located at Evelyn below a depth of ~70ms, several geochemically anomalous gossans within the VMS-host stratigraphy to the north and northeast of Evelyn, and reconnaissance drill testing of 1,000m structural corridor directly south of Evelyn covered by thin alluvium.

The Company is continuing to evaluate new opportunities in precious and base metals exploration and project development that have potential to build long term value for Shareholders.

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Interim Financial Report Year Ended 31 December 2008

Venturex Resources Limited 28 122 180 205

Directors’ Report continued

Auditors’ Independence Declaration

A copy of the auditors' independence declaration as required under section 307C of the Corporations Act 2001 is set out on the following page.

This report is made in accordance with a resolution of Directors.

TIM SUGDEN Managing Director

Dated: 12 March 2009

Competent Person’s Statement

Information in this report that relates to exploration results is based on information compiled by Venturex Resources Limited and is based on information provided by Tim Sugden PhD (Geology) who is a member of the Australasian Institute of Mining & Metallurgy. Dr Sugden has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a competent person as defined in the 2004 edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr Sugden is a fulltime employee of Venturex Resources Limited and consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.

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Interim Financial Report Year Ended 31 December 2008

Venturex Resources Limited 28 122 180 205

Auditors’ Independence Declaration

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12 March 2009

The Board of Directors Venturex Resources Limited 1[st] Floor, 35 Richardson Street WEST PERTH WA 6005

Dear Board Members

AUDITOR’S INDEPENDENCE DECLARATION IN ACCORDANCE WITH SECTION 307C OF THE CORPORATIONS ACT 2001 TO THE DIRECTORS OF VENTUREX RESOURCES LIMITED

In accordance with section 307C of the Corporations Act 2001, I am pleased to provide the following declaration of independence to the directors of Venturex Resources Limited.

As lead audit partner for the review of the financial report of Venturex Resources Limited for the half-year ended 31 December 2008, I declare that to the best of my knowledge and belief, there have been no contraventions of:

(i) the auditor independence requirements of the Corporations Act 2001 in relation to the review; and

(ii) any applicable code of professional conduct in relation to the review.

Yours sincerely

Jeffrey Luckins Director Webb Audit Pty Ltd

Dated in Melbourne, Australia on this 12[th] day of March 2009

Webb Audit Pty Ltd ABN 59 116 151 136

A member of the Webb Group Cnr Toorak & Auburn Roads Hawthorn East Vic 3123 Australia PO Box 185 Toorak Vic 3142 Australia Telephone +61 3 9822 8686 Facsimile +61 3 9824 8578 audit@webbgroup.com.au www.webbgroup.com.au

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Interim Financial Report Year Ended 31 December 2008

Venturex Resources Limited 28 122 180 205

Appendix 4D for the Half Year Ended 31 December 2008

Reporting Period

Current Reporting Period - Half year Ended 31 December 2008 Previous Reporting Period - Half year Ended 31 December 2007

	Change	Change ($A)		$A
Revenues from ordinary activities	down	($49,655)	to	$13,291
Loss from ordinary activities after tax attributable to members	up	($301,489)	to	($1,183,266)
Net loss for the period attributable to members	up	($301,489)	to	($1,183,266)

Dividends (distributions)

No dividends have been paid or declared during the half year ended 31 December 2008.

Net Tangible Asset per Security

As at 31 December 2008 (0.47) cents per share As at 31 December 2007 2.50 cents per share

Commentary on Results

The first half year result reflects the various changes that occurred to the Management and Board during the reporting period as detailed in the Directors' Report.

The loss increase is attributable to the impairment loss of $346,931 following a detailed review on the tenements.

The Management also conducted a full review of the expenditure and implemented cost-cutting measures. As a result of the cost-saving initiatives undertaken, Operating Expenses (impairment loss exclusive) decreased by 9.7% to $861,471 (2007: $953,984). Notably Corporate and Administration Expenses reduced by 26.5% to $148,473 (2007: $202,029), with Legal and Consulting Fees reduced by 55% to $91,040 (2007: $201,975).

Included in Operating Expenses are certain once-off costs, such as termination payments to former employees. Adjusting for these costs, Operating Expenses will have further decreased.

Unaudited Financial Information

The information contained in this report is unaudited. The financial report for the half-year ended 31 December 2008 has been reviewed by the Company's auditors.

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Interim Financial Report Year Ended 31 December 2008

Venturex Resources Limited 28 122 180 205

Consolidated Income Statement for the Half Year Ended 31 December 2008

Interest received Other income Corporate and administration expense Legal and consulting fee Exploration and evaluation expense Officers and employees remuneration Impairment of area of interest LOSS BEFORE INCOME TAX INCOME TAX EXPENSE LOSS FOR THE PERIOD LOSS ATTRIBUTABLE TO MINORITY INTEREST LOSS ATTRIBUTABLE TO MEMBERS OF THE PARENT ENTITY Loss per share for loss from continuing operations attributable to the ordinary equity holders of the Company: Basic loss per share Diluted loss per share Loss per share for loss from attributable to the ordinary equity holders of the parent entity: Basic loss per share Diluted loss per share	31 December 2008 $ 13,291 11,845 (148,473) (91,040) (221,256) (400,702) (346,931) (1,183,266) - (1,183,266) - (1,183,266) (2.42) cents (2.42) cents (2.42) cents (2.42) cents	31 December 2007 $
		62,946 - (202,029) (201,975) (283,002) (266,978) -
		(891,038)
		-
		(891,038)
		9,261
		(881,777)
		(2.04) cents (2.04) cents (2.01) cents (2.01) cents

The accompanying notes form part of these financial statements.

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Interim Financial Report Year Ended 31 December 2008

Venturex Resources Limited 28 122 180 205

Consolidated Balance Sheet as at 31 December 2008

Notes CURRENT ASSETS Cash and cash equivalents Trade and other receivables Other TOTAL CURRENT ASSETS NON-CURRENT ASSETS Plant and equipment Exploration and evaluation costs TOTAL NON-CURRENT ASSETS TOTAL ASSETS CURRENT LIABILITIES Trade and other payables Convertible loan Provisions TOTAL CURRENT LIABILITIES NON-CURRENT LIABILITIES Provisions TOTAL NON-CURRENT LIABILITIES TOTAL LIABILITIES NET ASSETS EQUITY Issued capital 6 Accumulated Losses Total parent entity interest in equity TOTAL EQUITY	31 December 2008 $ 185,953 19,398 54,881 260,232 21,378 2,229,787 2,251,165 2,511,397 82,167 500,000 24,791 606,958 207 207 607,165 1,904,232 7,814,073 (5,909,841) 1,904,232 1,904,232	30 June 2008 $
		892,658 112,270 82,133
		1,087,061
		25,550 1,898,640
		1,924,190
		3,011,251
		269,966 - 28,961
		298,927
		1,299
		1,299
		300,226
		2,711,025
		7,437,600 (4,726,575)
		2,711,025
		2,711,025

The accompanying notes form part of these financial statements.

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Interim Financial Report Year Ended 31 December 2008

Venturex Resources Limited 28 122 180 205

Consolidated Statement of Changes in Equity for the Half Year Ended 31 December 2008

	Issued Capital $	Accumulated Losses $	Total of Consolidated Entity $	Minority Interest $	Total $
Balance at 30 June 2007 Shares issued net of costs Options issued Net(Loss)for theperiod	5,653,421 72,103 433,646 -	(770,126) - - (881,777)	4,883,295 72,103 433,646 (881,777)	- (44) - (9,261)	4,883,295 72,059 433,646 (891,038)
Balance at 31 December 2007	6,159,170	(1,651,903)	4,507,267	(9,305)	4,497,962
Shares issued net of costs Options issued net of costs Group's acquisition of the remaining interest in Juranium Pty Ltd Net(Loss)for theperiod	1,136,056 142,374 - -	- - 81,965 (3,156,637)	1,136,056 142,374 81,965 (3,156,637)	44 - - 9,261	1,136,100 142,374 81,965 (3,147,376)
Balance at 30 June 2008	7,437,600	(4,726,575)	2,711,025	-	2,711,025
Shares issued net of costs Options exercised net of costs Options issued net of costs Net(Loss)for theperiod	328,193 1,333 46,947 -	- - - (1,183,266)	328,193 1,333 46,947 (1,183,266)	- - - -	328,193 1,333 46,947 (1,183,266)
Balance at 31 December 2008	7,814,073	(5,909,841)	1,904,232	-	1,904,232

The accompanying notes form part of these financial statements.

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Interim Financial Report Year Ended 31 December 2008

Venturex Resources Limited 28 122 180 205

Consolidated Cash Flow Statement for the Half Year Ended 31 December 2008

Notes CASH FLOWS RELATED TO OPERATING ACTIVITIES Payments to suppliers and employees Interest received NET OPERATING CASH FLOWS CASH FLOWS RELATED TO INVESTING ACTIVITIES Payment for purchases of plant and equipment Payment for purchases of mining tenements Payment for deferred exploration expenditure Proceeds from granting an option over tenements NET INVESTING CASH FLOWS CASH FLOWS RELATED TO FINANCING ACTIVITIES Proceeds from issues of securities Capital raising costs Proceeds from borrowings NET FINANCING CASH FLOWS NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS Cash and cash equivalents at the beginning of the half year Effects of exchange rate changes on cash and cash equivalents CASH AND CASH EQUIVALENTS AT THE END OF THE HALF YEAR	31 December 2008 $ (887,952) 13,291 (874,661) (4,456) - (678,078) 15,000 (667,534) 386,333 (50,843) 500,000 835,490 (706,705) 892,658 - 185,953	31 December 2007 $
		(574,076) 62,981
		(511,095)
		- (133,530) (1,024,087) -
		(1,157,617)
		434,172 (33,907) -
		400,265
		(1,268,447)
		2,971,891 -
		1,703,444

The accompanying notes form part of these financial statements.

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Interim Financial Report Year Ended 31 December 2008

Venturex Resources Limited 28 122 180 205

Notes to the Financial Statements

Note 1. Basis of Preparation

Reporting Entity

Venturex Resources Limited is a company domiciled in Australia. The consolidated interim financial report of the Company as at and for the six months ended 31 December 2008 comprises the Company and its subsidiaries (together referred to as the "consolidated entity”), Jutt Resources Pty Ltd and Juranium Pty Ltd.

Statement of Compliance

The general purpose financial report for the interim half year reporting period ended 31 December 2008 has been prepared in accordance with Accounting Standard AASB 134: Interim Financial Reporting, Australian Accounting Interpretations and other authoritative pronouncement of Australian Accounting Standards Board and the Corporations Act 2001.

This half year financial report does not include all notes of the type normally included in an annual financial report and therefore cannot be expected to provide as full an understanding of the financial performance, financial position and financing and investing activities of the entity as the full financial report.

Accordingly, this report is to be read in conjunction with the annual report for the year ended 30 June 2008 and any public announcements made by Venturex Resources Limited during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001.

Significant accounting policies

The accounting policies have been consistently applied by entities in the consolidated group and are consistent with those in the Company's Annual Financial Report for the year ended 30 June 2008.

The half year report has been prepared on accrual basis and is based on historical costs.

Accounting Standards include Australian equivalents to International Financial Reporting Standards (A-IFRS).

Note 2. Going Concern Basis

The financial statements have been prepared on a going concern basis notwithstanding that for the half-year ended 31 December 2008 the consolidated entity incurred an operating loss of $1,183,266 and for the year ended 30 June 2008 the consolidated entity incurred an operating loss of $4,038,414.

The financial statements have been prepared on a going concern basis because the Directors and Management have prepared cash flow projections for the Company that support the ability of the Company to continue as a going concern. These projections assume the raising of additional funds through the issue of new share capital in the next year. If the Company is unable to continue as a going concern, it may be necessary to realise assets and extinguish liabilities other than in the ordinary course of business and at amounts different to those stated in the financial statements.

Note 3. Dividends

The Company has not resolved to declare any dividends in the period ended 31 December 2008.

Note 4. Segment Information

During the half year ended 31 December 2008 and 31 December 2007, the Company was engaged entirely in the mining and exploration industry in Australia.

Note 5. Contingent Liabilities

There has been no significant change in contingent liabilities since the last annual reporting date.

Note 6. Issued Capital

Note 6. Issued Capital
Issued and Paid Up Capital Fully Paid Ordinary Shares Options over Fully Paid Ordinary Shares Total Issued Capital	31 December 2008 No. $ 69,037,064 6,988,730 62,021,484 825,343 7,814,073	30 June 2008 No. $
	69,037,064 62,021,484	65,173,730 58,484,818	6,653,204 784,396
			7,437,600

During the half year ended 31 December 2008, the following movements in equity occurred:

Shares		No.
27/08/2008	Fully Paid Ordinary Shares - Fund Exploration	3,850,000
17/09/2008	Fully Paid Ordinary Shares - Exercise of JUTOA	13,334
Total		3,863,334
Options		No.
27/08/2008	Listed Options - JUTO - 1:1 free attaching - Nil Consideration	3,850,000
17/09/2008	Exercise of JUTOA - options were issued for Nil Consideration	(13,334)
10/10/2008	Options Lapsed JUTAM	(300,000)
Total		3,536,666

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Interim Financial Report Year Ended 31 December 2008

Venturex Resources Limited 28 122 180 205

Notes to the Financial Statements continued

Note 7. Events Subsequent to Reporting Date

Pursuant to the pro-rata non-renounceable Entitlement Issue Prospectus dated 16 December 2008, up to the date of this report, the Company issued 44,509,617 fully paid ordinary shares at 1 cent per share, raising $445,096.17 from the entitlement issue and a partial placement of shortfall resulting from the entitlement issue. The Company intends to place the remaining shortfall of 24,527,447 shares by 15 April 2009.

Following the Shareholders' approval at the members' meeting held on 12 January 2009, the Company issued on 13 January 2009 50,000,000 fully paid ordinary shares at 1 cent per share to the value of $500,000 to satisfy Converting Loan Agreements. The converting loans have been used for general working capital purposes.

On 13 January 2009, the Company issued 21,000,000 unlisted options exercisable at 10 cents on or before 12 January 2012 to Directors and Company Secretary as approved by Shareholders at the members' meeting held on 12 January 2009.

On 12 January 2009, Shareholder approval was received to change the name of the Company from Jutt Holdings Limited to Venturex Resources Limited and the ASX code changed from JUT to VXR on 28 January 2009.

There are no material subsequent events that have not been disclosed in this report.

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Interim Financial Report Year Ended 31 December 2008

Venturex Resources Limited 28 122 180 205

Directors’ Declaration

The Directors' of the Company declare that:

1. The financial statements and notes, as set out on pages 5 to 10:

2. (a) comply with Accounting Standard AASB 134: Interim Financial Reporting and the Corporations Regulations; and

3. (b) give a true and fair view of the economic entity's financial position as at 31 December 2008 and of its performance for the half-year ended on that date.

4. In the Directors' opinion there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable.

This declaration is made in accordance with a resolution of the Board of Directors.

Director Dated this 12 March 2009

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Interim Financial Report Year Ended 31 December 2008

Venturex Resources Limited 28 122 180 205

Independent Auditor’s Review Report

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INDEPENDENT AUDITOR’S REVIEW REPORT TO THE MEMBERS OF

VENTUREX RESOURCES LIMITED

(Formerly known as Jutt Holdings Limited) ABN 28 122 180 205

Report on the Interim Financial Report

We have reviewed the accompanying interim financial report of Venturex Resources Limited and the entities it controlled during the period, which comprises the balance sheet as at 31 December 2008, income statement, statement of changes in equity and cash flow statement for the half-year ended on that date, a statement of accounting policies, other selected explanatory notes and the directors' declaration.

Director’s Responsibility for the Interim Financial Report

The directors of the company are responsible for the preparation and fair presentation of the interim financial report in accordance with the Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Act 2001. This responsibility includes designing, implementing and maintaining internal controls relevant to the preparation and fair presentation of the interim financial report that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.

Auditor's Responsibility

Our responsibility is to express a conclusion on the interim financial report based on our review. We conducted our review in accordance with Auditing Standard on Review Engagements ASRE 2410 Review of an Interim Financial Report Performed by the Independent Auditor of the Entity , in order to state whether, on the basis of the procedures described, we have become aware of any matter that makes us to believe that the interim financial report is not in accordance with the Corporations Act 2001 including: giving a true and fair view of the consolidated entity’s financial position as at 31 December 2008 and its performance for the half-year ended on that date; and complying with Accounting Standard AASB134 Interim Financial Reporting and the Corporations Regulations 2001. As the auditor of Venturex Resources Limited and the entities it controlled during the period, ASRE 2410 requires that we comply with the ethical requirements relevant to the audit of the annual financial report.

A review of an interim financial report consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Webb Audit Pty Ltd ABN 59 116 151 136

A member of the Webb Group Cnr Toorak & Auburn Roads Hawthorn East Vic 3123 Australia PO Box 185 Toorak Vic 3142 Australia Telephone +61 3 9822 8686 Facsimile +61 3 9824 8578 audit@webbgroup.com.au www.webbgroup.com.au

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Interim Financial Report Year Ended 31 December 2008

Venturex Resources Limited 28 122 180 205

Independent Auditor’s Review Report continued

INDEPENDENT AUDITOR’S REVIEW REPORT TO THE MEMBERS OF

VENTUREX RESOURCES LIMITED

(Formerly known as Jutt Holdings Limited) (Continued)

Independence

In conducting our review, we have complied with applicable independence requirements of Australian professional ethical pronouncements and the Corporations Act 2001. We have given to the directors of the company a written Auditor’s Independence Declaration, a copy of which is included in the Directors’ Report.

Conclusion

Based upon our review, which is not an audit, we have not become aware of any matter that makes us believe that the interim financial report of Venturex Resources Limited and the entities it controlled during the period is not in accordance with the Corporations Act 2001 , including:

• (i) giving a true and fair view of the consolidated entity's financial position as at 31 December 2008 and of its performance for the half-year ended on that date; and

• (ii) complying with Accounting Standard AASB134 Interim Financial Reporting and the Corporations Regulations 2001.

Inherent Uncertainty Regarding Continuation as a Going Concern

Without qualification to the opinion expressed above, attention is drawn to the following matter. As a result of the matters described in Note 2 to the financial statements on page 9, there is inherent uncertainty whether the company will be able to continue as a going concern and therefore whether it will realise its assets and extinguish its liabilities in the normal course of business and at the amounts stated in the financial report.

Jeffrey Luckins Director Webb Audit Pty Ltd

Dated in Melbourne, Australia on this 12[th] day of March 2009

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