FENIX RESOURCES LTD — Interim / Quarterly Report 2013

Oct 29, 2012

ASX QUARTERLY REPORT for the Period Ending - 30[th] September 2012

HIGHLIGHTS

EMERGENT RESOURCES LIMITED

“An emerging Western Australian mineral resource company focused on iron, gold, base metals and uranium”

ASX Code: EMG

Total shares on issue 206,991,001 Unlisted options 7,296,443

Directors

Mr Wolfgang Fischer - Chairman Nathan Lude - Non Executive Director Mr Francis DeSouza - Non Executive Director Mr Jian-Hua Sang - Non Executive Director

Projects

Extension and Extension North Gold Project:

Extension to the Plutonic Well Greenstone Belt with previous drilling for Au

Beyondie Iron Project : (80% EMG, 20% DEG ) Established 561 Mt inferred magnetite resource with multiple potential iron products.

Glengarry Gold & Base Metal Project : Comprising 2500 square kilometres of prospective ground for Cu, Pb, Zn, precious metals and uranium.

Marble Bar Copper, Gold Project: Potential for gold and VMS deposits.

Paterson Uranium, Copper, Gold Project: Potential for Kintyre, Maroochydore and Nifty style deposits.

CORPORATE

During the Quarter the Company announced the appointment of Mr Jian-Hua Sang to the Emergent Board as a Non-Executive Director. Mr Sang has over 25 years of international exploration, mining and business experiences in Asia, Australia and Africa. He is a Director of International Natural Resources Limited, Emergent’s strategic investment partner and largest shareholder.

Mr Sang has worked actively on precious and nonferrous metals, iron ore and diamond projects in many countries. He has been involved in establishing and managing of more than 15 Sino-Foreign mineral joint ventures in China. He has an enviable combination of technical, managerial and M&A experience in international exploration and mining projects with both western and Chinese companies.

As at 1 July 2012, Mr Nathan Lude stepped down as Managing Director and became a Non-Executive Director of the Company.

ASSET REVIEW

During the Quarter the Company continued its review of several new projects in Australia and overseas. The Company’s Board is focused on reshaping Emergent’s project portfolio and setting the Company on a path that will effectively deliver near term value for shareholders.

COMPANY IN SOUND CASH POSITION

The Company’s existing cash reserves of $3,200,948 ensures that the Company is in a sound cash position to fund exploration and potential future project acquisition.

About Emergent Resources Limited

Emergent Resources Ltd is an Australian-based exploration company whose flagship asset is the 80% owned Beyondie Iron Ore Project, located in the south east Pilbara region of Western Australia. The Beyondie Project has an established 561 Mt inferred magnetite resource grading 27.5% Fe , as well as other potential iron products.

In addition to the Beyondie Project, the Company’s exploration portfolio consists of the Glengarry project license areas that are prospective for gold and non-ferrous base metals.

Emergent Resources seeks to enhance shareholder value through acquisition of additional projects including other types of minerals including, without limitation, coal, iron ore, copper, gold, manganese, tin, nickel, potash and tungsten.

For further information please contact:

Wolfgang Fischer Chairman

Emergent Resources Limited PH: +61 8 9380 9122 E: admin@emergentresources.com.au Website: www.emergentresources.com.au

Competent Persons Statement

The information in this report that relates to Mineral Resources is based on information compiled by Sharron Sylvester who is a full time employee of AMC Consultants Pty Ltd and a Member of the Australian Institute of Geoscientists and has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration to qualify as a Competent Person as defined in the JORC Code (2004). Sharron consents to the inclusion of this information in the form and context in which it appears.

Appendix 5B Mining exploration entity quarterly report

Rule 5.3

Appendix 5B

Mining 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

Name of entity

	Emergent Resources Ltd	Emergent Resources Ltd
	ABN 68 125 323 622 Consolidated statement of cash flows
			30 September 2012
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 - (R&D refund) Net Operating Cash Flows		Current quarter $A’000		Year to date (3 months) $A’000
		- (142) - - (146) - - 43 - -		- (142) - - (146) - - 43 - -
		(245)		(245)
Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets (d) environmental bonds 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)		- - - - - - - - - -		- - - - - - - - - -
		-		-
		(245)		(245)

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

1.13 Total operating and investing cash flows (brought forward)	(245)	(245)
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 – Share issue costs 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	(245) 3,445 -	(245) 3,445 -
	3,200	3,200

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

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
	88
	-

• 1.25 Explanation necessary for an understanding of the transactions

Item 1.23 – Remuneration of Directors

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

Not Applicable

• 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

Not Applicable

Financing facilities available

Add notes as necessary for an understanding of the position.

• 3.1 Loan facilities 3.2 Credit standby arrangements

	Amount available		Amount used
	$A’000		$A’000
		-		-
		-		-

• See chapter 19 for defined terms.

Appendix 5B Page 2

17/12/2010

Appendix 5B Mining exploration entity quarterly report

Estimated cash outflows for next quarter

Estimated cash outflows for next quarter
4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration Total	$A’000
	50
	-
	-
	162
	212

Reconciliation of cash Reconciliationof 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)	250	195
	2,950	3,250
	-	-
	-	-
Total: cash at end of quarter(item 1.22)	3,200	3,445

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 ofquarter	Interest at end of quarter
	N/a	-	-	-
	N/a	-	-	-

• See chapter 19 for defined terms.

17/12/2010 Appendix 5B Page 3

Appendix 5B Mining exploration entity quarterly report

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	-	-	-	-
	- -	- -	- -	- -
7.3 +Ordinary securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs	206,991,001	206,991,001
	- -	- -	-	-
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) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	1,046,443 125,000 2,000,000	- - -	Exercise price $0.26 $1.50 $0.10	Expiry date 27/10/2012 30/09/2013 02/03/2013
	-	-	-	-
	-	-	-	-
	3,700,000 300,000 125,000	- - -	$0.20 $0.26 $1.00	31/08/2012 08/09/2012 30/09/2012

• See chapter 19 for defined terms.

Appendix 5B Page 4

17/12/2010

Appendix 5B Mining exploration entity quarterly report

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 5).

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

Sign here:

==> picture [119 x 49] intentionally omitted <==

Date: 30 October 2012

(Company secretary)

Print name: Kevin Hart

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 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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17/12/2010 Appendix 5B Page 5