DEVELOP GLOBAL LIMITED — Interim / Quarterly Report 2010

Jul 19, 2010

Appendix 5B Mining Exploration Entity Quarterly Report

Rule 5.3

Appendix 5B – 4th Quarter 2010

Mining Exploration Entity Quarterly Report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10.

Name of Entity:

Venturex Resources Limited (ASX Code: VXR)

ABN: 28 122 180 205

Quarter Ended ('Current Quarter') 30 June 2010

Consolidated Statement of Cash Flows

		Current Quarter $A’000	Year to Date $A’000
1.1 1.2 1.3 1.4 1.5 1.6 1.7	Cash Flows Related to Operating Activities Receipts from product sales and related debtors Payments for:(a) exploration and evaluation (b) development (c) production (d) administration (e) Whim Creek administration Dividends received Interest and other items of a similar nature received Interest and other costs of finance paid Income taxes paid Other (Reduction (Increase) in Bank Guarantee)	- (1,050) - - (464) (168) - 60 (74) - -	- (2,984) - - (1,008) (310) - 84 (74) - 14
	Net Operating Cash Flows	(1,696)	(4,278)
	Cash Flows Related to Investing Activities		- - (191) - -
1.8	Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets (d) physical non-current assets (e) other non-current assets	- - (87) - -

Venturex Resources Limited has four controlled entities incorporated in Australia, (Venturex Pilbara Pty Ltd formerly Straits (Whim Creek) Pty Ltd, Jutt Resources Pty Ltd, Juranium Pty Ltd and CMG Gold Ltd) and one controlled entity incorporated in Brazil, CMG Mineração Ltda. The Consolidated Statement of Cash Flows covers Venturex Resources Limited and its controlled entities.

• See chapter 19 for defined terms.

Appendix 5B Page 1 of 6

Appendix 5B Mining Exploration Entity Quarterly Report

			Current Quarter $A’000	Year to Date $A’000
	Cash Flows Related to Investing Activities
1.9 1.10 1.11 1.12	Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets (d) physical non-current assets (e) other non-current assets Loans to other entities Loans repaid by other entities Other(Cash Acquired on BusinessAcquisition)		- - - - - - - -	- - - - - - - 29
		Net Investing Cash Flows	(87)	(162)
1.13		Total Operating and Investing Cash Flows	(1,783)	(4,440)
1.14 1.15 1.16 1.17 1.18 1.19		Cash Flows Related to Financing Activities Proceeds from issues of shares, options, etc. Proceeds from sale of forfeited shares Proceeds from borrowings (converting loan) Repayment of borrowings Dividends paid Refund of share application funds and capital raising costs	8,977 - - (4,000) - (439)	10,930 - 3,921 (4,000) - (610)
		Net Financing Cash Flows	4,538	10,241
1.20 1.21		Net Increase / (Decrease) in Cash Held Cash at beginning of quarter/year to date Exchange rate adjustments to item 1.20	2,755 3,551 (1)	5,801 508 (4)
1.22		Cash at End of Quarter(1)	6,305	6,305

~~(1)~~ Includes $1.5m utilised to cash back environmental bonds.

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 1.25	Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10 Explanation necessary for an understanding of the transactions	Current Quarter $A'000
		150
		-
	Item 1.23 includes aggregate salaries, directors’ fees, corporate advisory & consulting fees atnormalcommercial rates

• See chapter 19 for defined terms.

Appendix 5B Page 2 of 6

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

• 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 -

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Financing Facilities Available

Add notes as necessary for an understanding of the position.

	Amount Available $A’000	Amount Used $A’000
3.1 Loan facilities(2)	-	-
3.2 Credit standby arrangements	-	-

(2) As announced on 10 February 2010, Venturex executed a $4 million convertible loan facility with Macquarie Bank Limited and Argonaut Equity Partners Pty Ltd. This loan was repaid in full during the quarter.

Estimated Cash Outflows for Next Quarter

	$A’000
4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration	1,250
	-
	-
	500
Total:	1,750

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 Cash on hand and at bank 5.2 Deposits at call 5.3 Bank overdraft 5.4 Cash secured against environmental bonds	41	117
	4,728	1,912
	-	-
	1,536	1,522
Total: Cash at End of Quarter(item 1.22)	6,305	3,551

• See chapter 19 for defined terms.

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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

Tenement Reference	Nature of Interest (note 2)	Interest at Beginning **of Quarter **	Interest at End of **Quarter **
St Elina ML800369/77	Option to acquire 100%	Yes	No

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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 (cents) (see note 3)	Amount Paid Up Per Security (cents) (seenote 3)
7.1 Preference+Securities (Description)	-	-
7.2 Changes During Quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs,redemptions
7.3 +Ordinary Securities	635,724,297	635,724,297
7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs	80,297,503 19,444,444	80,297,503 19,444,444	Deemed value of 9.0 cents Deemed value of 9.0 cents	7,226,775 1,749,999

• See chapter 19 for defined terms.

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Appendix 5B Mining Exploration Entity Quarterly Report

	Total Number	Number Quoted		Issue Price Per Security (cents) (see note 3)	Amount Paid Up Per Security (cents) (seenote 3)	Amount Paid Up Per Security (cents) (seenote 3)
7.5 +Convertible debt securities(Description)
7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted
7.7 Options (Description and Conversion Factor) VXRAC VXRAB VXRAO VXRAI VXRAK	650,000 1,457,148 21,000,000 12,000,000 42,105,263	- - - - -		Exercise Price 20 cents 20 cents 10 cents 15 cents 9.5 cents	Expiry Date 30 Nov 2010 22 April 2011 12 Jan 2012 6 Dec 2012 31Jan 2012
7.8 Issued during quarter				Exercise Price		Expiry Date
7.9 Exercised during quarter
7.10 Expired during quarter				Exercise Price		Expiry Date
7.11 Debentures (totals only)
7.12 Unsecured notes (totals only)

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.

Sign Here: ____ Company Secretary Date: 20 July 2010

Print Name: Liza Carpene

• See chapter 19 for defined terms.

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Appendix 5B Mining Exploration Entity Quarterly Report

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 International 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.

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• See chapter 19 for defined terms.

Appendix 5B Page 6 of 6