GENESIS RESOURCES LIMITED — Interim / Quarterly Report 2011

Jan 30, 2012

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GENESIS RESOURCES LIMITED • Level 3 • 1 Collins Street • Melbourne • VIC 3000

T +61 3 9665 0403 • F +61 3 9650 5571 • www.genesisresourcesltd.com.au • ABN 22 114 787 469

Quarterly Activities Report – December 2011

HIGHLIGHTS

Plavica Au-Ag-Cu Project

• Diamond drilling program on Plavica for a total of 2,842m was designed to test the current resource and to identify zones of mineralisation previously not drill-tested

• Drilling has generally but not consistently supported earlier Yugoslav drill data

• Highlights of drilling within the existing resource area include 72m @ 0.61 g/t Au + 10 g/t Ag and 45.1m @ 0.7% Cu, 0.52 g/t Au, 11.5 g/t Ag + 0.1% Mo

• Highlights of drilling across the Plavica Ridge include 102m @ 0.80 g/t Au, 30.3m @ 1.08 g/t Au and 16.4m @ 1.28 g/t Au

• Potential exists to establish a low-grade heap-leachable oxide resource across the vughy silica ridges at Plavica

• Reconnaissance exploration was completed over other concession areas in the vicinity of the Plavica Project

Gladstone-Mount Miller Mn Project

• Granting of the Mount Miller Mining Lease (EA MIN201115110) is contingent on finalisation of access agreements with Queensland Main Roads and Queensland National Railways

• The Queensland Main Roads agreement was finalised in December

• Queensland National Railways agreements are being prepared to allow the planned drilling program

• Recently-declared Urban Restricted area around Gladstone Township impinges on the Gladstone EPM including the MLA over Mount Miller. Genesis submitted a justification to be exempt from this zone and is awaiting a reply.

• Diamond drilling program planned at Mount Miller to confirm the mineralisation believed to remain after previous mining activity.

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Quarterly Activities Report October-December 2011

Page 1

Pioneer Au Project

• Samples of vein quartz and host rocks being examined to determine gold contained in various mineral phases

• If volcanic and altered host rocks contain appreciable sulphide-gold, then the size potential of the Pioneer reef gold mineralised systems would be enhanced.

Alice Springs and Arltunga Cu-Au-Fe Projects

• 351 soil samples were collected over Cadney Fault Zone and cross-cutting mineralisation

• Intense bush fires caused the cancellation of soil sampling on Arltunga.

McArthur River Mn Project

• Detailed gravity survey indicated the possibility of buried massive manganese and will be used to model the gravity targets for further investigation.

Information in this report that relates to exploration activity and results was compiled under the guidance of Dr A John Parker who is a Member of the Australasian Institute of Geoscientists and by Dr Kerim Sener, who is a member of the Geological Society of London and the Institute of Materials, Minerals and Mining. Dr Parker and Dr Sener are non-executive directors of Genesis Resources Limited and have sufficient experience relevant to the styles of mineralisation and to the activities which are being reported to qualify as Competent Persons as defined by the JORC code, 2004. Dr Parker and Dr Sener consent to the release of the information compiled in this report in the form and context in which it appears.

Quarterly Activities Report October-December 2011

Page 2

PLAVICA PROJECT, MACEDONIA

EXPLORATION & DEVELOPMENT PROGRESS DURING THE QUARTER

PLAVICA PROJECT: Gold, Silver and Copper (GES earning 62%)

The Ministry of Economics within the Republic of Macedonia (FYROM) has granted 7 concession licences over Plavica Project to Genesis Resources’ JV partner RIK Sileks AD Kratovo (“Sileks”) for a term of 4 years (GES has the right to earn a 62% joint venture interest). The project is made up of 7 exploration licences covering over 184.94 km[2] in the Carpathian Volcanic Arc, a major epithermal province running through Eastern Europe, and is highly prospective for gold, copper and silver mineralisation.

Plavica has an Inferred Mineral Resource (JORC Code-compliant) of:

Element	Million Tonnes	Average Grade	Top Cut	Status	Contained Metal	Contained Metal	Contained Metal
					ounces	kg	lbs
Gold	57.24	0.9 g/t	5 g/t	Inferred	1,656,198	51,514
Silver		15.3 g/t	50 g/t	Inferred	28,237,764	878,29
Copper		0.282 %	0.9 %	Inferred		16,140,898	32,679,184

During the quarter, the Company received and compiled assay data received for its 2,842m drilling program on the Plavica Project. The drilling program was designed to test a part of the current Inferred resource and to undertake new exploration drilling along zones of vughy silica alteration in the vicinity of Plavica Peak. A total of thirteen holes were drilled, with four deep holes, totaling 1,319m, drilled in to an area that contains part of the current resource, eight holes drilled in to the exploration target represented by Plavica Ridge and one hole drilled in to an area containing historic mining activity. The drilling undertaken has now confirmed the presence of continuous gold mineralisation within vughy silica and related alteration along Plavica Ridge over a strike length of approximately 800m and to a depth of approximately 100m below surface.

Samples from the program were composited every 2m with half core sent to assay. Strict QA/QC procedures were followed and samples were analysed at the ALS Chemex laboratory in Romania and in Vancouver. Summary intercept data for these holes is provided in Table 1 and 2 below for the four holes drilled in to the existing resource and for nine holes drilled in to exploration targets. The intercepts are calculated separately on the basis of Au zones defined at a 0.2 g/t cut-off and Cu zones defined at a cutoff of 0.2% Cu, using Au or Cu as the primary element respectively. The mineralisation is also notable for the content of molybdenum, lead and zinc, which are also reported here based on the intercepts calculated for Au and Cu.

Reconnaissance exploration of the remaining 6 concession areas in the vicinity of the Plavica project was completed during the quarter. Remote-sensing imagery has been used to constrain areas of interest within these concessions and ground based follow-up work involving rock-chip sampling and ground truthing of targets was completed. The aim of this work program was to define areas that show potential for satellite mineral resources to Plavica and to determine sites for future drilling.

Quarterly Activities Report October-December 2011

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GENESIS RESOURCES LIMITED • Level 3 • 1 Collins Street • Melbourne • VIC 3000
T +61 3 9665 0403 • F +61 3 9650 5571 • www.genesisresourcesltd.com.au • ABN 22 114 787 469
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Table 1: Summary intercepts obtained from the first four holes of the 2011 drilling program undertaken by Genesis on the Plavica Project, Macedonia. The intercepts are calculated separately on the basis of Au zones defined at a 0.2 g/t cut-off and Cu zones defined at a cutoff of 0.2% Cu. A minimum composite width of 5m was selected, with maximum internal dilution of 4m.

Intercepts Defined by Au Zones (0.2ppm Au cut-off)

Hole ID	From (m)	To (m)	Length (m)	Au (ppm)	Cu (%)	Ag (ppm)	Mo (%)	Pb (%)	Zn (%)
PLV-10	161.8	238.0	76.2	0.54	0.16	4.52	0.00	0.15	0.24
PLV-11	12.0	50.6	38.6	0.68	0.11	6.58	0.02	0.15	0.25
PLV-11	221.4	261.8	40.4	0.75	0.04	8.43	0.08	0.22	0.53
PLV-11	268.0	340.0	72.0	0.61	0.52	9.96	0.07	0.04	0.34
PLV-12	100.9	125.3	24.4	0.45	0.16	9.60	0.00	1.05	0.16
PLV-13	147.7	169.8	22.1	0.43	0.26	34.79	0.03	0.31	0.07

Intercepts Defined by Cu Zones (0.2% Cu cut-off)

Hole ID	From (m)	To (m)	Length (m)	Cu (%)	Au (ppm)	Ag (ppm)	Mo (%)	Pb (%)	Zn (%)
PLV-10	45.6	67.8	22.2	0.71	0.17	0.37	0.00	0.02	0.10
PLV-10	147.6	169.0	21.4	0.63	0.36	2.36	0.00	0.09	0.38
PLV-11	90.9	116.2	25.3	0.43	0.27	7.76	0.02	0.32	0.65
PLV-11	134.6	174.5	39.9	0.44	0.49	5.89	0.03	0.12	0.93
PLV-11	271.7	316.8	45.1	0.70	0.52	11.54	0.10	0.05	0.38
PLV-12	222.6	246.3	23.7	0.41	0.33	35.09	0.01	0.15	0.17
PLV-13	83.2	94.8	11.6	0.55	0.29	3.35	0.00	0.16	0.02
PLV-13	151.4	169.8	18.4	0.30	0.47	40.16	0.03	0.35	0.08

Quarterly Activities Report October-December 2011

Page 4

Table 2: Summary intercepts obtained from nine holes of the 2011 drilling program undertaken by Genesis on the Plavica Project, Macedonia. The intercepts are calculated on the basis of Au zones defined at a 0.2 g/t cut-off. A minimum composite width of 5m was selected, with maximum internal dilution of 4m. Note that PLV-15 ended in mineralisation and the hole was abandoned due to a technical drilling issue.

Hole ID	From (m)	To (m)	Length (m)	Au (ppm)	Ag (ppm)	Cu (%)	Pb (%)	Zn (%)
PLV-14	149.5	168.5	19	0.57	0.30	0.02	0.02	0.05
PLV-15	86.5	116.8	30.3	1.08	3.06	0.02	0.02	0.07
PLV-16	0	33.2	33.2	0.62	3.52	0.03	0.04	0.00
PLV-17	50.9	62.9	12	0.69	1.15	0.14	0.01	0.00
PLV-18	28.9	45.3	16.4	1.28	1.93	0.01	0.33	0.01
PLV-18	76.5	89.5	13	0.56	0.57	0.03	0.01	0.00
PLV-18	144.9	151	6.1	0.31	0.76	0.08	0.07	0.01
PLV-19	16.8	118.8	102	0.80	6.28	0.06	0.07	0.08
PLV-20	0	7.9	7.9	0.69	7.42	0.03	0.20	0.00
PLV-21	88.3	95.9	7.6	0.22	0.97	0.14	0.04	0.04
PLV-21	115.2	128.6	13.4	0.25	0.63	0.04	0.01	0.02
PLV-22	0	21.9	21.9	0.35	84.90	0.04	0.82	0.02
PLV-22	27.9	39.5	11.6	0.34	3.67	0.21	0.51	0.76
PLV-22	54.7	77.14	22.44	0.73	6.35	0.36	0.24	0.19

Quarterly Activities Report October-December 2011

Page 5

AUSTRALIA

EXPLORATION & DEVELOPMENT PROGRESS DURING THE QUARTER

GLADSTONE-MOUNT MILLER PROJECT: Manganese (GES 100%)

The Gladstone-Mount Miller Project consists of Exploration Licence (EPM15771) and Mining Lease Application (MLA80166) and is located approximately 15 kilometres by road from the port of Gladstone on the east coast of central Queensland.

The largest mine on the tenements controlled by Genesis was at Mount Miller. The mine opened in 1895 and operated intermittently until 1916 and then from 1958 to 1960. A total of 21,785 tonnes of ore was mined with a grade which ranged from 71% to 75% MnO2.

On 21 April 2011, the Queensland Government Department of Environment and Resource Management granted an Environmental Authority (Mining Lease) Non Code Compliant Level 2 Mining Project (EA MIN201115110) for the Mount Miller Mine. However, this EA is not activated until compensation agreements are in place with Queensland Main Roads and Queensland National Railways. The CA with Queensland Main Roads was finalised in December.

Queensland National Railways have asked Genesis to cover the legal fees to prepare two agreements: “1) a Licence Agreement for the temporary occupation and undertaking of drilling works on QRN freehold land; and 2) a Crossing Agreement for the purposes of granting Genesis temporary access to cross the rail corridor with equipment and vehicles.”

As noted previously, the recently-declared Urban Restricted area around the Gladstone Township impinges on the Gladstone EPM and includes the MLA over Mount Miller. Genesis submitted a justification to be exempt from this zone. Our submission has been acknowledged and a reply is still awaited.

A diamond drilling program has been planned at Mount Miller to confirm the mineralisation believed to remain after previous mining activity.

Permission is still awaited from the Government to conduct the drilling program under the Gladstone EPM.

PIONEER PROJECT: Gold (GES 100%)

The Pioneer Project consists of one granted Exploration Permit Mineral (EPM15619) covering 12.47 square kilometres approximately 70 kilometres by road from Bundaberg via the Bruce Highway in Queensland.

The project lies within the Gaeta Goldfield and has undergone previous exploration for gold, uranium and base metals, with numerous historical gold workings located throughout the area. Historical mining was primarily focused on the Pioneer Reef which was the largest producer, but mining activities also included several other reefs including Gympie, Lord Nelson, West Yorkshire and Happy Jack. The Pioneer Reef was reported to have produced 2,452.75 ton of ore milled for a yield of 57.168 kg of gold, representing an average grade (recovered) of 23.31 g/t gold when mining stopped in the 1940’s.

Samples of vein quartz, volcanic and altered host rocks were sent to be crushed, gravity separated and further characterised using variable gauss magnetic separation. In this way the association of gold with magnetite, pyrite, pyrrhotite and arsenopyrite will be clarified and local and regional exploration techniques will be established.

If the volcanic and altered host rocks contain appreciable sulphide-gold, as may be indicated by the previously-indicated PDIP and GAIP anomalies, then the size potential of the Pioneer reef gold mineralised systems would be enhanced beyond the narrow veins.

Quarterly Activities Report October-December 2011

Page 6

ALICE SPRINGS PROJECT: Copper, Gold, Iron (GES 100%)

The Alice Springs Project consists of one granted Exploration Licence (EL24817) and is located approximately 155 kilometres by road from Alice Springs via the Stuart Highway.

Previous exploration by Genesis and other explorers has identified high grade secondary copper mineralisation over a number of areas up to 30% Cu. The copper appears to be structurally controlled and associated with magnetite enrichment in some areas.

At the Alice Springs Project significant grades of copper, gold, silver and bismuth (with visible malachite, chalcopyrite, chalcocite and chrysocola) were found and previously reported in the very long shear zone named the Cadney Fault. This zone, which consists of quartz-carbonate veins in sheared gneiss, has a strike-length of over 10km in an east-southeast direction across most of the licence.

A total of 351 soil samples of regolith were collected along Cadney Fault between 7[th] and 21[st] of November 2011. Although bush fires delayed progress, most of the planned samples were collected. Results are awaited.

The MMP submitted to the Northern Territory Department of Resources is nearing approval.

McARTHUR RIVER PROJECT: Manganese (GES 100%)

The McArthur River project is located approximately 850 kilometres south east of Darwin in the Northern Territory and 450 kilometres north-west of Mount Isa in Queensland.

The project area contains the Masterton No2 manganese occurrence.

A small gravity survey was completed by Haines Geophysics on 1[st] September. Representative samples collected for Petrophysics at Masterton indicated a significant SG contrast between the manganese ore and the surrounding rock types.

Unexplained gravity anomalies offer potential for the discovery of new manganese deposits.

This project is available for farm-out.

ARLTUNGA PROJECT: Gold-Copper (GES 100%)

The Arltunga gold project is located some 110 kilometres northeast of Alice Springs and encompasses most of the Arltunga gold field. Arltunga Goldfield has been subject to small scale historical mining activities from the late 1800s to mid 1900s, and again in the 1980s, producing approximately 15,400 oz of gold, primarily from high grade quartz reefs. The Exploration License hosts 33 historical gold mines and prospects with significant gold assays up to 53g/t from rock chip sampling around old mine workings and pyritic-quartz veins.

Genesis Resources publically reported in September positive results for samples collected during a field assessment of geological and geophysical anomalies. Drilling is recommended at:

• A previously unknown gold occurrence (5 g/t) was found in quartz veins at GAIP anomaly B2-IP10

• A chlorite-schist zone with associated gold (17, 13, 29g/t) perhaps 500m long near Round Hill

• The auiferous Wipe Out and Magdala IP trends.

Field work planned for the quarter was cancelled because of intense bush fires. An ATR was completed and sent to the Government.

LAURA RIVER Au-Pt PROJECT: (EMP15242)

No work was carried out.

Quarterly Activities Report October-December 2011

Page 7

CORPORATE

At 31 December 2011, the Company had approximately $0.44 million cash in hand and 370,266 shares in Thor Mining Plc.

Board and Management

Mr Eddie Pang Chairman Dr Kerim Sener Director (Non-Executive) Dr John Parker Director (Non-Executive) Mr Deric Wee Director (Non-Executive) Ms Sophie Karzis Company Secretary

Securities on Issue

Shares at 31 December 2011 53,080,752 Options outstanding: Exercisable at 30 cents, expiring 24 November 2011 2,500,000 (expired during quarter) Exercisable at 20 cents, expiring 27 October 2012 500,000

Tenements as at 31 December 2011

Project	Tenement Number	Area (sq km)	Current Holder	State
Alice Springs	EL24817	495.7	Genesis Resources	NT
Arltunga	EL25238	95.2	Genesis Resources	NT
Fenn Gap	EL24839	52.43	Genesis Resources	NT
Laura River	EMP15242	330.7	Genesis Resources	QLD
Pioneer	EPM15619	12.47	Genesis Resources	QLD
McArthur River	EL24814	505.6	Genesis Resources	NT
Gladstone	EPM15771	63.93	Genesis Resources	QLD
Mt Miller MLA	MLA80166	32.24 Ha	Genesis Resources	QLD
Total Australia		1,556.03
Plavica(7 leases)		184.9	RIK SILEKS AD Kratovo	Macedonia
Total		1740.93

Quarterly Activities Report October-December 2011

Page 8

About Genesis Resources Limited

Genesis Resources Limited is an Australian company with a portfolio of quality iron, manganese, gold, uranium and base metal (copper-zinc-silver) in the highly prospective Archaean and Proterozoic metallogenic provinces of Australia.

Genesis has signed a Joint Venture over an advanced copper-gold project (Plavica) within the Former Yugoslav Republic of Macedonia. The Plavica Project lies within Carpathian Volcanic Arc, a major epithermal province running through Eastern Europe, which is highly prospective for gold, copper and silver mineralisation.

Genesis projects are close to established infrastructure including railways, shipping ports, highways, power stations and populated areas.

The Company’s objective is to provide rapid capital growth through mineral discoveries and development of economic deposits in Australia and overseas.

For more information please visit the Company website at: www.genesisresourcesltd.com.au

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Location of Genesis Resources Limited’s Australian projects

Quarterly Activities Report October-December 2011

Page 9

Appendix 5B Mining exploration entity quarterly report

Rule 5.3

Appendix 5B

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10.

Name of entity

GENESIS RESOURCES LIMITED

	ABN 22 114 787 469 Consolidated statement of cash flows	ABN 22 114 787 469 Consolidated statement of cash flows	Quarter ended (“current quarter”) 31 December 2011	Quarter ended (“current quarter”) 31 December 2011
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 (6 months) $A’000
		- (220) - - (189) - - - 6 -		- (802) - - (291) - 8 - 20
		(403)		(1,065)
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 (carriedforward)		- - - - - - - - -		- - - - 481 - - - -
		-		**481 **
		(403)		(584)
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 1.15 Proceeds from sale of forfeited shares		- -		- -

• See chapter 19 for defined terms.

Appendix 5B Page 1

30/9/2001

Appendix 5B Mining exploration entity quarterly report

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 of quarter	(403) 777 -	(584) 958 -
	374	374

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

1.23 1.24	1.23 1.24	Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10	Current quarter $A'000
			0
			-
1.25 Explanation necessaryforanunderstanding ofthe transactions None Non-cash financing and investing activities 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets andliabilities but didnotinvolve cash flows None 2.2 Details of outlays made by other entities to establish or increase their share in projects in whichthereporting entityhas an interest None		Explanation necessaryforanunderstanding ofthe transactions
		None
	None
	Details of outlays made by other entities to establish or increase their share in projects in whichthereporting entityhas an interest
	None

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
	-	-
	-	-

• See chapter 19 for defined terms.

Appendix 5B Page 2

30/9/2001

Appendix 5B Mining exploration entity quarterly report

Estimated cash outflows for next quarter

4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration	$A’000
	83
	-
	-
	100
Total	183

Reconciliation of cash

Reconciliation of cash
Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to therelateditemsinthe accountsis asfollows.	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 (Term Deposit)	374	777
	-	-
	-	-
	67	67
Total: cash at end of quarter(item 1.22)	441	844

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 of quarter	Interest at end of quarter
	-	-	-	-
	-	-	-

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.

dates.
	Total number	Number quoted	Issue price per security (see note 3) (cents)	Amount paid up per security (see note 3) (cents)
7.1 Preference +securities (description)	Nil

• See chapter 19 for defined terms.

Appendix 5B Page 3

30/9/2001

Appendix 5B Mining exploration entity quarterly report

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	53,080,752	53,080,752
	-	-
7.5 +Convertible debt securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted	Nil
7.7 Options (description and conversion factor) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	500,000 options to acquire ordinary shares (conversion factor 1:1)	0	Exercise price $0.20 per share	Expiry date 27/10/2012
	-	-	-	-
	-	-	-	-
	2,500,000 options to acquire ordinary shares (conversion factor 1:1)	0	Exercise price $0.30 per share	Expiry date 24/11/2011
7.11 Debentures (totals only)	Nil
7.12 Unsecured notes(totals only)	Nil

• See chapter 19 for defined terms.

Appendix 5B Page 4

30/9/2001

Appendix 5B Mining 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 4).

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

Eddie Lung Yiu Pang Chairman 31January 2012

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 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.

• 5 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.

== == == == ==

• See chapter 19 for defined terms.

Appendix 5B Page 5

30/9/2001