FENIX RESOURCES LTD — Interim / Quarterly Report 2013

Apr 29, 2013

ASX QUARTERLY REPORT for the Period Ending - 31[st] March 2013

WEST ROCK RESOURCES

On 21[st] January 2013, Emergent Resources Limited (ASX: EMG) (“Emergent” or “the Company”) announced that it had entered into a conditional heads of agreement (“Heads of Agreement”) to acquire 100% of the fully paid ordinary shares in the capital of West Rock Resources Limited. The Heads of Agreement was conditional on a number of events including the completion of reasonable legal, financial, technical and operational due diligence.

On 5 March 2013, the Emergent Board advised that after further consideration the Company had decided not to proceed with the transaction.

BOARD CHANGES

On 2[nd] April 2013 the Company announced that Mr Francis DeSouza stepped down from its Board as a Non-Executive Director. The Board thanked Mr DeSouza for his contribution to the Company and wishes him well in his professional future.

Mr DeSouza’s position on the Board has been filled by Mr Patrick Burke who holds a Bachelor of Laws degree from the University of Western Australia. He has approximately twenty years’ experience working in law firms and companies in Australia and Europe. His

EMERGENT RESOURCES LIMITED

ASX Code: EMG

Total shares on issue 206,991,001 Unlisted options 125,000

Directors

Mr Wolfgang Fischer - Chairman Mr Patrick Burke - 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.

expertise is in corporate, commercial and securities law with an emphasis on capital raisings and mergers and acquisitions. He contributes general corporate and legal skills along with a strong knowledge of the ASX requirements. He is a director of Monto Minerals Ltd, Minerals Corporation Limited, Sirocco Energy Limited and WAG Limited, companies listed on ASX.

ASSET DEVELOPMENT AND REVIEW

During the Quarter the Company, as part of a regular process, the Company’s assets were reviewed to ensure that their potential meets expectations in the light of changing knowledge and economic circumstances and that each asset still warrants the application of Emergent’s valuable financial and human resources.

As a result of this asset review the decision was taken to relinquish North Pool Project tenement E53/0977, Mt Bartle Project tenements P53/1417, P53/1418 and P53/1419 and Yibbie Range Project tenement E52/2680.

Following this rationalisation the Company now intends to focus on the exploration and development of its existing North Gold and Beyondie Iron Projects and shall provide an update to the market shortly in this regard.

In addition, the Company continues to focus on the identification and evaluation of mineral resource opportunities both in Australia and overseas that will reposition Emergent and deliver shareholder value.

CONTINUED SOUND CASH POSITION

The Company’s cash reserves at the end of March 2013 were $2,932,180 putting the Company in a sound cash position to fund exploration and potential future projects.

UNLISTED OPTIONS

On 28[th] March 2013 the Company announced the expiry of 2,000,000 unlisted options that were exercisable at $0.10 each on or before 2[nd] March 2013.

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 of Emergent Resources’ projects 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

	Name of entity
	Emergent Resources Ltd
	ABN 68 125 323 622 Consolidated statement of cash flows
			31 March 2013
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 (9 months) $A’000
		- (70) - - (105) - 34 - - -		- (254) - - (374) - 115 - - -
		(141)		(513)
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)		- - - - - - - - - -		- - - - - - - - - -
		-		-
		(141)		(513)

• 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)	(141)	(513)
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	(141) 3,073 -	(513) 3,445 -
	2,932	2,932

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 quarter $A'000 1.23 Aggregate amount of payments to the parties included in item 1.2 20 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 – 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.

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Amount available Amount used
$A’000 $A’000
3.1 Loan facilities
- -
3.2 Credit standby arrangements
- -
Estimated cash outflows for next quarter
$A’000
4.1 Exploration and evaluation
178
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• See chapter 19 for defined terms.

Appendix 5B Page 2

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Appendix 5B Mining exploration entity quarterly report

• 4.2 Development

• 4.3 Production

• 4.4 Administration

Total

• • 87 265

Rec Reco show the re	onciliation of cash nciliationof cash at the end of the quarter (as n in the consolidated statement of cash flows) to lated items in the accounts is as follows.	Current quarter $A’000	Previous quarter $A’000
5.1 5.2 5.3 5.4	Cash on hand and at bank Deposits at call Bank overdraft Other (provide details)	132	73
		2,800	3,000
		-	-
		-	-
	Total: cash at end of quarter(item 1.22)	2,932	3,073

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.

• 5.1 Cash on hand and at bank

• 5.2 Deposits at call

• 5.3 Bank overdraft 5.4 Other (provide details)

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
	E53/0977 P53/1417 P53/1418 P53/1419 E52/2680	Granted Granted Granted Granted Application	80% 100% 100% 100% 100%	0% 0% 0% 0% 0%
	-	-	-	-

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 note 3) (cents)	Amount paid up per security (see note 3) (cents)

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

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	125,000	-	Exercise price $1.50	Expiry date 30/09/2013
	-	-	-	-
	-	-	-	-
	2,000,000	-	$0.10	02/03/2013
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).

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

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

Sign here:

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Date: 30 April 2013

(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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