GOLDARC RESOURCES LIMITED — Interim / Quarterly Report 2012

Oct 30, 2012

Appendix 5B Mining exploration entity quarterly report

Rule 5.3

Appendix 5B

Mining exploration entity quarterly report

Name of entity

Torian Resources NL

	ABN 72 002 261 565 Consolidated statement of cash flows		Quarter ended (“current quarter”) 30 September 2012	Quarter ended (“current quarter”) 30 September 2012
				30 September 2012
Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) pre-development, exploration & evaluation (b) production (c) administration (d) rehabilitation 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 Net Operating Cash Flows		Current quarter $A’000		Year to date (9 months) $A’000
		- (5) (138) - 3 (2)		2 (138) (555) (27) 7 (15)
		(142)		(726)
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 Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)		(26)		(278)
		(26)		(278)
		(168)		(1,004)

• 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)	(168)	(1,004)
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 issue of convertible notes 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other (Loans from Directors) Net financing cash flows	150 - 55	315 426 60
	205	801
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Adjustments to item 1.20 for foreign exchange rate translation 1.22 Cash at end ofquarter	37 113 -	(203) 362 (9)
	150	150

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 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
	-
	-

• 1.25 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

Nothing to report for this period.

• 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

Nothing to report for this period.

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

Financing facilities available

Financing facilities available
3.1 Loan facilities 3.2 Credit standby arrangements	Amount available $A’000	Amount used $A’000
	-	-
	-	-

Subsequent to year end, the Company has entered into an agreement whereby a short term funding facility of A$500,000 has been granted to the Company.

Estimated cash outflows for next quarter

4.1 Exploration and evaluation 4.2 Development/Investment in joint venture 4.3 Production 4.4 Administration	$A’000
	10
	-
	-
	100
Total	110

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 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 (Refundable deposits and bonds)	(8)	(42)
	158	158
Total: cash at end of quarter(item 1.22)	150	116

Changes in interests in mining tenements

Tenement reference	Nature of interest (note (2))	Interest at beginning of quarter	Interest at end of quarter
N.A.
N.A.

• See chapter 19 for defined terms.

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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 note 3) (cents)	Amount paid up per security (see note 3) (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 Fully Paid Partly Paid 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital,buy-backs	3,938,603,767 73,724,328	3,938,603,767 -
	87,500,000 9,289,773 13,775,000 125,000,000	87,500,000 9,289,773 13,775,000 125,000,000	0.08 0.11 0.125 0.08	0.08 0.11 0.125 0.08
7.5 +Convertible debt securities 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted	-	-	-
	1 (1)	- -	A$170,000 (A$170,000)

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

7.7 Options 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	3,000,000 19,950,000 25,000,000 14,000,000 101,500,000 101,500,000 101,500,000 101,500,000 200,000,000 80,000,000		Exercise price (cents) 0.33 0.4 1 0.5 1 1.1 1.2 1.3 2.3 0.5	Expiry date 14/10/2013 31/12/2012 31/12/2012 31/12/2012 31/12/2014 31/12/2014 31/12/2015 31/12/2015 29/12/2015 15/12/2013
7.11 Debentures (totals only)
7.12 Unsecured notes (totals only)

Notes:

The company is proceeding to finalise from sophisticated investors two advances totalling $150,000. The initial $50,000 has been deposited to the Company’s account today and a second amount will be paid on or about 9 November 2012. Neither advance is repayable on demand and each is convertible to shares subject to shareholder approval. The company proposes to hold a general meeting on or about 12 December 2012 to approve these advances and various other matters and to restore its full 15% capacity to make further placements.

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.

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Sign here: ............................................................ Date: 31 October 2012 (Director/ ~~Company secretary)~~

Print name: Peter Ashcroft

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

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.

T:\Administration\Accounts\cashflow forecasts\TNR - App5b - September 2012 Final 2.docx Wednesday, 31 October 2012

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• See chapter 19 for defined terms.

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