EV RESOURCES LTD — Regulatory Filings 2007

Apr 10, 2007

Rule 4.7B

Appendix 4C

Monthly report for entities admitted on the basis of commitments

Introduced 31/3/2000. Amended 30/9/2001

Name of entity .
ICHEIELD CROID L JMITED	. -----
-------- ___	--------------------------------------

ABN

66 009 144 503

Month ended ("current Month")

31 March 2007

Consolidated statement of cash flows

Cash flows related to operating activities		Current month \$A'000	Year to date $\binom{9}{10}$ months) \$A'000
1.1	Receipts from customers
1.2	Payments for (a) staff costs		(17)
	(b) advertising and marketing
	(c) research and development
	(d) leased assets
	(e) other working capital
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)
	- Payment of Creditors	(14)	(63)
	Net operating cash flows	(14)	(80)

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$+$ See chapter 19 for defined terms.

		Current month SA'000	Year to date $\binom{1}{2}$ months) \$A'000
1.8	Net operating cash flows (carried forward)	(14)	(80)
1.9	Cash flows related to investing activities Payment for acquisition of:
	(a) businesses (item 5) (b) equity investments
	(c) intellectual property
	(d) physical non-current assets
	(e) other non-current assets
1.10	Proceeds from disposal of:
	(a) businesses (item 5)
	(b) equity investments
	intellectual property (c)
	(d) physical non-current assets
	other non-current assets $\left( \mathrm{e}\right)$
1.11	Loans to other entities		(10)
1.12	Loans repaid by other entities		10
1.13	Other (provide details if material)
	Net investing cash flows
1.14	Total operating and investing eash flows	(14)	(80)
	Cash flows related to financing activities
1.15	Proceeds from issues of shares, options, etc.	521	521
1.16	Proceeds from sale of forfeited shares
1.17	Proceeds from borrowings
1.18 1.19	Repayment of borrowings Dividends paid
1.20	Other (provide details if material)
		521	521
	Net financing cash flows
	Net increase (decrease) in eash held	507	441
1.21 1.22	Cash at beginning of Month/year to date Exchange rate adjustments to item 1.20	31	97
1.23	Cash at end of month	538	538

• See chapter 19 for defined terms.

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$\overline{\phantom{a}}$

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

		Current month \$A'000
1.24	Aggregate amount of payments to the parties included in item 1.2
1.25	Aggregate amount of loans to the parties included in item 1.11	٠

$1.26$ Explanation necessary for an understanding of the transactions N/A

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 N/A
• $2.2$ Details of outlays made by other entities to establish or increase their share in businesses in which the reporting entity has an interest

N/A

Financing facilities available

Add notes as necessary for an understanding of the position. (See AASB 1026 paragraph 12.2).

		l Amount available \$A'000	Amount used \$A'000
3.1	Loan facilities
3.2	Credit standby arrangements

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Appendix 4C Page 3

$+$ See chapter 19 for defined terms.

Reconciliation of cash

Reconciliation of cash at the end of the month (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.		Current month \$A'000	Previous month \$A 000
4. I	Cash on hand and at bank	538	31
4.2	Deposits at call
4.3	Bank overdraft
4.4	Other (provide details)
	Total: eash at end of month (item 1.22)	538	31

Acquisitions and disposals of business entities

		Acquisitions (Item I.9(a))	Disposals (Item $1.10(a)$ )
5.1	Name of entity
5.2	Place of incorporation or registration
5.3	Consideration for acquisition or disposal
5.4	Total net assets
5.5	Nature of business	$\blacksquare$

Compliance statement

• $\mathbf{I}$ This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act (except to the extent that information is not required because of note 2) or other standards acceptable to ASX.
• $\overline{2}$ This statement does give a true and fair view of the matters disclosed.

Sign here: (Company secretary) Print name: Jane Wilder

Date: 11 April 2007

• See chapter 19 for defined terms.

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Notes

• $\mathbf{I}$ . 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.
• $\overline{2}$ . The definitions in, and provisions of, AASB 1026: Statement of Cash Flows apply to this report except for the paragraphs of the Standard set out below.
• 6.2 - reconciliation of eash flows arising from operating activities to operating profit or loss
• 9.2 - itemised disclosure relating to acquisitions
• 9.4 - itemised disclosure relating to disposals
• $12.1(a)$ policy for classification of cash items
• disclosure of restrictions on use of cash $12.3$
• comparative information $13.1$
• 1. 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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Appendix 4C Page 5

⁺ See chapter 19 for defined terms.