INOVIQ LTD — Interim / Quarterly Report 2008

Dec 16, 2007

Rule 5.3

Appendix 5B

Mining Exploration Entity Monthly Report

Origin: Appendix 8

Name of Entity

EUROGOLD LIMITED ("EUG")

ABN 009 070 384 -002	4 Months Ended
009 070 384 -002	30 November 2007

Consolidated Statement of Cash Flows

Cash Flows Related to Operating Activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration and 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 – (Tax/VAT) Net Operating Cash Flows	Current (Month) $A'000	Year to Date (5 Months) $A'000
	0 (0) (0) 0 (137) 0 11 0 0 5	0 (0) (0) 0 (660) 0 45 0 0 27
	(121)	(588)
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 operatingand investingcash flows(carried forward)	0 0 0 0 0 0 0 0 0	0 0 (0) 2,255 0 9 0 0 0
	0	2,264
	(121)	1,676

1.13 Total operatingand investingcash flows(brought forward)	(121)	1,676
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 (Capital Raising Costs) Net Financing Cash Flows	0 0 0 0 0 0	0 0 0 0 0 0
	0	0
Net Increase (Decrease) in Cash Held 1.20 Cash at beginning of Month/year to date 1.21 Exchange rate adjustments to 1.20 1.22 Cash at End of Month	(121) 2,310 0	1,676 513 0
	2,189	2,189

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	Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to theparties included in item 1.10	1 Month $A'000
		12
		0
1.25	Explanation necessaryfor an understandingof the transactions
	Salaries, superannuation contributions, consulting and directors fees paid to 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

None

• 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

None

Financing Facilities Available

Add notes as necessary for an understanding of the position.

		Amount Available	Amount Used
		$A'000	$A'000
3.1	Loan facilities	0	0
3.2	Credit standbyarrangements	0	0

Estimated Cash Outflows for Next Month

4.1 Exploration and evaluation 4.2 Development	$A'000
	0
	0
Total	0

Reconciliation of Cash

Reconciliation of cash at the end of the Month (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.	Current $A'000	Previous Month $A'000
5.1 Cash on hand and at bank 5.2 Deposits at call 5.3 Bank overdraft 5.4 Other	2,189	2,310
	0	0
	0	0
	0	0
Total: Cash at End of Month(item 1.22)	2,189	2,310

Changes in Interests in Mining Tenements

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 Month

Description includes rate of interest and any redemption or conversion rights together with prices and dates.

	Number Issued	Number Quoted	Issue Price Per Security (cents)	Amount Paid Up Per Security (cents)
7.1 Preference +securities (description) 7.2 Issued during Quarter	Nil	Nil	N/Applicable	N/Applicable
	-	Nil	N/Applicable	N/Applicable
7.3 +Ordinary Securities 7.4 Issued during Quarter	319,679,494	319,679,494	N/Applicable	N/Applicable
	nil	nil	N/Applicable	N/Applicable
7.5 +Convertible Debt Securities (description) 7.6 Issued during Month	Nil	Nil	N/Applicable	N/Applicable
	Nil	Nil	N/Applicable	N/Applicable
7.7 Options (description) 7.8 Issued during Quarter 7.9 Exercised during Quarter 7.10 Expired during Quarter	4,000,000 (unquoted Director Options	Nil	Exercise Price $0.03	Expiring 10 August 2010
	Nil_s_	Nil	Nil	Nil
	Nil	Nil	Nil	Nil
	Nil	Nil	N/Applicable	N/Applicable
7.11 Debentures (totals only)	Nil	Nil
7.12 Unsecured Notes(totals only)	Nil	Nil

Compliance Statement

• 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Law or other standards acceptable to ASX (see note 4).

• 2 This statement does ~~/does not*~~ (delete one) give a true and fair view of the matters disclosed.

P Gunzburg Date: 11 December 2007 Executive Chairman

Notes

• 1 The Monthly report provides a basis for informing the market how the entity's activities have been financed for the past Month 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.

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