DEVELOP GLOBAL LIMITED — Interim / Quarterly Report 2010

Jan 28, 2010

Appendix 5B Mining Exploration Entity Quarterly Report

Rule 5.3

Appendix 5B – 2nd Quarter 2010

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:

Name of Entity:
Venturex Resources Limited (ASX Code: VXR)
ABN: 28 122 180 205	Quarter Ended ('Current Quarter')
28 122 180 205	31 December 2009

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) contract services Dividends received Interest and other items of a similar nature received Interest and other costs of finance paid Income taxes paid Other(Reduction in BankGuarantee)	- (709) - - (124) (10) - 8 - - -	- (1,447) - - (324) (33) - 14 - - 14
	Net Operating Cash Flows	(835)	(1,776)
	Cash Flows Related to Investing Activities		- - (38) - -
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	- - (9) - -

• Venturex Resources Limited has three controlled entities incorporated in Australia, (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 Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets (d) physical non-current assets (e) other non-current assets - - - - - - - - - - 1.10 Loans to other entities - - 1.11 Loans repaid by other entities - - 1.12 Other(Cash Acquired on BusinessAcquisition) - 29 Net Investing Cash Flows (9) (9) 1.13 Total Operating and Investing Cash Flows (844) (1,785) Cash Flows Related to Financing Activities 1.14 Proceeds from issues of shares, options, etc. - 1,953 1.15 Proceeds from sale of forfeited shares - - 1.16 Proceeds from borrowings (converting loan) - - 1.17 Repayment of borrowings - - 1.18 Dividends paid - - 1.19 Refund of share application funds and capital raising costs (8) (149) Net Financing Cash Flows (8) 1,804 Net Increase / (Decrease) in Cash Held (852) 19 1.20 Cash at beginning of quarter/year to date 1,379 508 1.21 Exchange rate adjustments to item 1.20 - - 1.22 Cash at End of Quarter 527 527 Payments to Directors of the Entity and Associates of the Directors Payments to Related Entities of the Entity and Associates of the Related Entitie Current Quarter $A'000 1.23 Aggregate amount of payments to the parties included in item 1.2 56 1.24 Aggregate amount of loans to the parties included in item 1.10 - 1.25 Explanation necessary for an understanding of the transactions Item 1.23 include aggregate salaries, directors’ fees, corporate advisory & consulting fees atnormalcommercial rates					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		(9)	(9)
	1.13		Total Operating and Investing Cash Flows		(844)	(1,785)
	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)	1,953 - - - - (149)
				Net Financing Cash Flows	(8)	1,804
	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	(852) 1,379 -	19 508 -
	1.22			Cash at End of Quarter	527	527
	Payments to Directors of the Entity and Associates of the Directors
	Payments to Related Entities of the Entity and Associates of the Related Entitie
		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
		Item 1.23 include aggregate salaries, directors’ fees, corporate advisory & consulting fees atnormalcommercial rates

Payments to Related Entities of the Entity and Associates of the Related Entities

• See chapter 19 for defined terms.

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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 3.2 Credit standby arrangements	- - - -

Estimated Cash Outflows for Next Quarter

4.1 Exploration and evaluation 4.2 Development	$A’000
	375
	-
Total:	375

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 Other	32	354
	495	1,025
	-	-
	-	-
Total: Cash at End of Quarter(item 1.22)	527	1,379

• 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 **

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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	429,282,350	429,282,350
7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs

• 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) JUTAC JUTAB JUTAO VXRAI	650,000 1,457,148 21,000,000 12,000,000	- - - -		Exercise Price 20 cents 20 cents 10 cents 15 cents	Expiry Date 30 Nov 2010 22 April 2011 12 Jan 2012 6Dec2012
7.8 Issued during quarter VXRAI	12,000,000			Exercise Price 15 cents		Expiry Date 6Dec2012
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: 29 January 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