DEVEX RESOURCES LIMITED — Interim / Quarterly Report 2013

Oct 30, 2013

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

Rule 5.5

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/2013

Name of entity

Name of entity
Uranium Equities Limited
ABN 74 009 799 553	Quarter ended (“current quarter”)
74 009 799 553	30 September 2013

Consolidated statement of cash flows

Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) administration 1.3 Dividends received 1.4 Interest and other items of a similar nature received 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	Current quarter $A’000	Year to date (3 months) $A’000
	- (226) - - (245) - 36 (13) - -	- (226) - - (245) - 36 (13) - -
	(448)	(448)
Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets 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 1.13 Total operating and investing cash flows (carried forward)	- - (1) - - - (50) - -	- - (1) - - - (50) - -
	(51)	(51)
	(499)	(499)

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

1.13 Total operating and investing cash flows (brought forward)	(499)	(499)
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other (provide details if material) Net financing cash flows	- - - - - -	- - - - - -
	-	-
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end ofquarter	(499) 856 -	(499) 856 -
	357	357

Notes:

• (1) $500k cash received post reporting date from sale of interest in Energia Minerals Limited.

• (2) Cash balance excludes $1.736 million held against bank guarantees for rehabilitation obligations on the Nabarlek Mineral Lease and an office lease, which is treated as Restricted Cash in the Company’s financial statements.

Payments to directors of the entity, associates of the directors, related entities of the entity and associates of the related entities

1.23 Aggregate amount of payments to the parties included in item 1.2 1.24 Aggregate amount of loans to the parties included in item 1.10	Current quarter $A'000
	142
	-

• 1.25 Explanation necessary for an understanding of the transactions Item 1.23 Current quarter consists of consulting fees paid to a director ($15k), salaries and superannuation paid to the managing director ($70k) and process engineering consulting fees in relation to PhosEnergy paid to a company in which a director has a beneficial interest ($57k). All transactions are on commercial terms.

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

Demerger of the Company’s PhosEnergy assets by way of an in-specie distribution of shares in PhosEnergy Limited to shareholders on 13 September 2013. The impact on Net Assets of the consolidated entity was a reduction of $988k being the amount of the capital reduction.

• See chapter 19 for defined terms.

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Mining exploration entity and oil and gas exploration entity quarterly report

• 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

Financing facilities available

Add notes as necessary for an understanding of the position.

3.1 Loan facilities 3.2 Credit standby arrangements	Amount available $A’000	Amount used $A’000
	-	-
	-	-

Estimated cash outflows for next quarter

4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration	$A’000
	59
	-
	-
	100
Total	159

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 (provide details)	161	260
	196	596
	-	-
	-	-
Total: cash at end of quarter(item 1.22)	357	856

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

Changes in interests in mining tenements and petroleum tenements

Tenement reference and location Nature of interest (note (2)) Interest at beginning of quarter Interest at end of quarter 6.1 Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed - - - - 6.2 Interests in mining tenements and petroleum tenements acquired or increased EL30073 Pluto (NT) – exploration licence application 0% 100% 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.	Tenement reference and location Nature of interest (note (2)) Interest at beginning of quarter Interest at end of quarter 6.1 Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed - - - - 6.2 Interests in mining tenements and petroleum tenements acquired or increased EL30073 Pluto (NT) – exploration licence application 0% 100% 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.	Tenement reference and location Nature of interest (note (2)) Interest at beginning of quarter Interest at end of quarter 6.1 Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed - - - - 6.2 Interests in mining tenements and petroleum tenements acquired or increased EL30073 Pluto (NT) – exploration licence application 0% 100% 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.	Tenement reference and location Nature of interest (note (2)) Interest at beginning of quarter Interest at end of quarter 6.1 Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed - - - - 6.2 Interests in mining tenements and petroleum tenements acquired or increased EL30073 Pluto (NT) – exploration licence application 0% 100% 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.	Tenement reference and location Nature of interest (note (2)) Interest at beginning of quarter Interest at end of quarter 6.1 Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed - - - - 6.2 Interests in mining tenements and petroleum tenements acquired or increased EL30073 Pluto (NT) – exploration licence application 0% 100% 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 note3) (cents)	Amount paid up per security (see note3) (cents)
7.1 Preference +securities (description) 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs, redemptions	N/A	N/A	N/A	N/A
	N/A	N/A	N/A	N/A
7.3 +Ordinary securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs	298,657,373	298,657,373	N/A	N/A
	N/A	N/A	N/A	N/A
7.5 +Convertible debt securities (description)	N/A	N/A	N/A	N/A

• See chapter 19 for defined terms.

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Mining exploration entity and oil and gas exploration entity quarterly report

7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted	N/A	N/A	N/A	N/A
7.7 Options (unlisted share options) Unlisted Performance Rights(1) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	500,000 875,000 3,000,000 1,300,000 500,000 300,000 6,102,500	Nil Nil Nil Nil Nil Nil Nil	Exercise price $0.297 $0.247 $0.247 $0.247 $0.247 $0.075 N/A	Expiry date 02.12.2013 15.11.2013 25.11.2013 07.07.2014 24.11.2014 21.02.2014 30.06.2016
	N/A	N/A	N/A	N/A
	N/A	N/A	N/A	N/A
	N/A	N/A	N/A	N/A
7.11 Debentures (totals only)	N/A	N/A
7.12 Unsecured notes(totals only)	N/A	N/A

(1) Performance Rights do not represent ordinary or preference securities and have therefore been disclosed within options for this purpose. Each right entitles the holder to 1.119 ordinary shares for nil consideration. Vesting of the Rights is subject to the Company and employee meeting certain performance hurdles during the performance period ending 30 June 2014 and subject to the employee remaining employed at 1 July 2015. Rights expire at the earlier of the date the employee ceases to be employed or 30 June 2016.

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

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 5).

• 2 This statement does give a true and fair view of the matters disclosed.

Sign here: Date: 31 October 2013 Company secretary

Print name: Rolf Heinrich

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 and petroleum 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 or petroleum 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 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.

• 5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting 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.

== == == == ==

• See chapter 19 for defined terms.

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