FENIX RESOURCES LTD — Interim / Quarterly Report 2012

Jul 30, 2012

ASX QUARTERLY REPORT for the Period Ending — 30[th] June 2012

HIGHLIGHTS

EMERGENT REOURCES 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

AUSTRASIA INTERNATIONAL MINING LIMITED (AUSTRASIA) INITIAL PUBLIC OFFERING

• Due to the adverse conditions of the financial and capital markets, the Initial Public Offering (IPO) for Austrasia was withdrawn during the quarter. The Company is currently assessing the best way forward to advance Emergent’s base and precious metal tenements that were due to be transferred across to Austrasia as part of the IPO process.

Directors

CORPORATE

Mr Wolfgang Fischer – Chairman Nathan Lude - Non Executive Director Mr Francis DeSouza – 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 highly prospective ground for Cu, Pb, Zn, precious metals and uranium.

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

• At the end of the Quarter the Company announced a number of changes to the roles of the Emergent Board and management team. Mr Nathan Lude stepped down from the role of Managing Director to become a Non-Executive Director for the Company. The management of the Company will be the joint responsibility of the Board

ASSET REVIEW

• During the Quarter the Company reviewed a number of new projects located both locally and abroad for the company. The company is focused on reshaping it’s project portfolio to one with the potential to more effectively deliver near term value for shareholders.

COMPANY IN SOUND CASH POSITION

• The Company’s existing cash reserves of $3,445,912 ensures that the Company is in a sound cash position to fund exploration and potential future project acquisition.

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

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 June 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) - (IPO costs for Austrasia) Net Operating Cash Flows		Current quarter $A’000		Year to date (12 months) $A’000
		- (82) - - (195) - - 47 - - (164)		- (668) - - (1,231) - - 109 - 514 (164)
		(394)		(1,440)
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)		- - - - - - - - - -		- - (8) - - - 55 - - -
		-		47
		(394)		(1,393)

• See chapter 19 for defined terms.

17/12/2010 Appendix 5B Page 1

Appendix 5B Mining exploration entity quarterly report

1.13 Total operating and investing cash flows (brought forward)	(394)	(1,393)
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	103 - - - - -	4,071 - - - - (52)
	103	4,019
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	(291) 3,736 -	2,626 819 -
	3,445	3,445

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
	63
	-

• 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
	80
	-
	-
	150
	230

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)	195	336
	3,250	3,400
	-	-
	-	-
Total: cash at end of quarter(item 1.22)	3,445	3,736

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	3,700,000 300,000 1,046,443 125,000 125,000 2,000,000	- - - - - -	Exercise price $0.20 $0.26 $0.26 $1.00 $1.50 $0.10	Expiry date 31/08/2012 08/09/2012 27/10/2012 30/09/2012 30/09/2013 02/03/2013
	-	-	-	-
	-	-	-	-
	-	-	-	-

• 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: 31 July 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.

== == == == ==

17/12/2010 Appendix 5B Page 5