LEGEND MINING LIMITED — Interim / Quarterly Report 2007

Oct 14, 2007

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.

Name of entity

	LEGEND MINING LIMITED	LEGEND MINING LIMITED	LEGEND MINING LIMITED	LEGEND MINING LIMITED
	ABN 22 060 966 145 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 DoIR rent refunds on tenement application withdrawals Net Operating Cash Flows			Current quarter $A’000	Year to date (12 months) $A’000
			9 (796) - (415) - 97 (170) - 5	55 (2,088) - (1,214) - 342 (354) - 203
			(1,270)	(3,056)
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 (carried forward)			- - (34) - - - - - -	- - (195) - - - - - -
			(34)	(195)
			(1,304)	(3,251)

• See chapter 19 for defined terms.

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1.13 Total operating and investing cash flows (brought forward)	(1,304)	(3,251)
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 Broker fees on Share Issue Environmental Bonds Security Deposit Net financing cash flows	830 - - - - - (301)	847 - - - - (136) (301)
	529	410
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	(775) 6,859 -	(2,841) 8,925 -
	6,084	6,084

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 the parties included in item 1.10	Current quarter $A'000
		139
1.25 n-cash 2.1 2.2	Explanation necessary for an understanding of the transactions
	Directors salary & consultancy fees.
	financing and investing activities Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows
	N/A
	Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest
	N/A

Non-cash financing and investing activities

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

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
	1,471	1,471
	-	-

Estimated cash outflows for next quarter

Estimated cash outflows for next quarter
4.1 Exploration and evaluation 4.2 Development	$A’000
	733
	-
Total	733

Reconciliation of cash

Reconciliation of cash	Reconciliation of cash
Reconciliation of cash at the end of the quarter (as		Current quarter	Previous quarter
shown in the consolidated statement of cash flows) to		$A’000	$A’000
the related items in the accounts is as follows.
5.1	Cash on hand and at bank	1,075	40
5.2	Deposits at call	5,009	6,819
5.3	Bank overdraft
		-	-
5.4	Other (provide details)
		-	-
	Total: cash at end of quarter(item 1.22)	6,085	6,859

Changes in interests in mining tenements

6.1 Interests in mining tenements relinquished, reduced or lapsed	Tenement reference	Nature of interest (note (2))	Interest at beginning of quarter	Interest at end of quarter
	E51/1144 E51/1145 E53/0345 E53/0957 E53/1215 E53/1216 E53/1217 E53/1270 E53/1273 E57/0190 E57/0520 E57/0571 E57/0588	Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold	100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%	0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%

• See chapter 19 for defined terms.

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6.1 Interests in mining tenements relinquished, reduced or lapsed	E57/0633 E57/0636 E57/0676 E57/0678 E57/0705 L53/0046 L53/0047 L53/0095 L53/0096 L53/0116 L57/0011 L57/0012 L57/0020 M51/0104 M51/0105 M51/0157 M51/0185 M51/0290 M51/0410 M51/0458 M51/0186 M53/0010 M53/0011 M53/0105 M53/0153 M53/0251 M53/0252 M53/0450 M53/0500 M53/0597 M53/0716 M53/0904 M53/0988 M57/0019 M57/0026 M57/0033 M57/0069 M57/0070 M57/0071 M57/0072 M57/0073 M57/0074 M57/0143 M57/0144 M57/0145 M57/0146 M57/0210 M57/0231 M57/0241 M57/0242 M57/0250 M57/0251 M57/0236	Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold	100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%	0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%

• See chapter 19 for defined terms.

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6.1 Interests in mining tenements relinquished, reduced or lapsed	M57/0288 M57/0291 M57/0292 M57/0349 M57/0375 M57/0410 P53/0635 P53/0636 P53/0637 P53/1112 P53/1152 P53/1153 P53/1155 P53/1163 P53/1199 P53/1269 P53/1285 P53/1295 P53/1296 P53/1297 P53/1302 P53/1440 P57/0662 P57/0971 P57/1015 P57/1024 P57/1028 P57/1050 P57/1051 P57/1052 P57/1053 P57/1054 P57/1055 P57/1059 P57/1060 P57/1061 P57/1062 P57/1063 P57/1080 P57/1081 P57/1082 P57/1083 P57/1084 P57/1087 P57/1088 P57/1093 P57/1094 P57/1105 P57/1106 P57/1123 P57/1124 P57/1125 P57/1213	Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold	100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%	0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%

• See chapter 19 for defined terms.

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6.2 Interests in mining tenements acquired or increased	E57/674 E57/706 P57/1126 P57/1127	Granted Granted Granted Granted	0% 0% 0% 0%	100% 100% 100% 100%

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 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs	934,905,103	934,905,103		Fully Paid
	10,357,341	10,357,341	4.0	Fully Paid
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	2,000,000 1,500,000 276,145,433 3,450,000	- - 147,145,433 -	Exercise price 10.0 30.0 4.0 8.0	Expiry date 07.02.2008 30.07.2009 31.07.2008 22.05.2012
	10,357,341	5,357,341	4.0	31.07.2008
7.11 Debentures (totals only)
7.12 Unsecured notes (totals only)

• See chapter 19 for defined terms.

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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: 15 October 2007 (Company secretary)

Print name: Tony Walsh.............................................

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.

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