METALS AUSTRALIA LTD — Interim / Quarterly Report 2012

Apr 29, 2012

Appendix 5B Mining exploration entity quarterly report

Rule 5. 3

==> picture [477 x 648] intentionally omitted <==

----- Start of picture text -----

Rule 5. 3
Appendix 5B
Mining exploration entity quarterly report
N ame of entity
Metals Australia Ltd
Qua r ter ended
ABN
(“curr e nt quarter”)
38 008 982 474 31 March 2012
Consolidated statement of cash flows
Current Year to date
quarter (9 months)
$A’000 $A’000
Cash flows related to operating activities
1.1 Receipts fro m product sales and relate d debtors
1.2 Payments for (a) explor a tion and eva l uation ( 362) (954)
(b) devel o pment
(c) prod u ction
(d) admi n istration ( 102) (410)
1.3 Dividends r e ceived
1.4 Interest and other items o f a similar na tu re received 14 82
1.5 Interest and other costs o f finance paid
1.6 Income taxes paid
1.7 Other (prov i de details if m aterial) R & D Gran t - 50
Net operating cash flows (450) (1,232)
Cash flows related to investing activities
1.8 Payment for purchases of : (a) prospe c ts
(b) equity i n vestments
(c) other f i xed assets
1.9 Proceeds fr o m sale of: (a) prospe c ts
(b) equity i nvestments
(c) other fi x ed assets
1.10 Loans to ot h er entities
1.11 Loans repai d by other ent i ties
1.12 Other (prov i de details if m aterial)
Net investing cash flows
1.13 Total operating and investing cash flows (carried forward) (450) (1,232)
Cash flows related to financing activities
1.14 Proceeds fr o m issues of s h ares, option s , etc. 2 ,349 2,349
1.15 Proceeds fr o m sale of for f eited shares
1.16 Proceeds fr o m borrowing s
1.17 Repayment o f borrowing s
1.18 Dividends p a id
1.19 Other (prov i de details if m aterial)
Net financing cash flows 2,349 2,349
Net increase (decrease) in cash held 1,899 1,117
1.20 Cash at beginning of quarter/year to da t e 877 1,659
1.21 Exchange r a te adjustments to item 1.2 0
1.22 Cash at end of quarter 2,776 2,776
----- End of picture text -----

• See chapter 19 for d efined terms.

Appendix 5 B Page 1

Appendix 5B Mining exploration entity quarterly report

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 1.25	Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10 Explanation necessaryfor an understandingof the transactions	Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10 Explanation necessaryfor an understandingof the transactions	Current quarter $A'000
			141
	Professional Services & Directors’ Fees Exploration ExpensesPaidThroughSubsidiary	$A’000 54 87

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

• 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

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
timated cash outflows for next quarter
4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration		$A’000
		500 100
**Total **		600

Estimated cash outflows for next quarter

Reconciliation of cash

econciliation 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(provide details)	676 2,100	177 700
Total: cash at end ofquarter(item 1.22)	2,776	877

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

• See chapter 19 for defined terms.

Appendix 5B Page 2

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	Issue price	Amount paid up per security (see note 3) (cents)
		quoted	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	767,926,110	767,926,110
	84,652,345	84,652,345	(a) 48,889,188 at 3.7 cents. (b) 29,763,157 at 1.9 cents. (c) 6,000,000 at nil.	3.7 cents 1.9 cents nil
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	163,665,000 63,770,767 6,000,000	163,665,000 - -	Exercise Price 2 cents 5 cents 4cents	Expiry Date 30 September 2013 1 December 2013 14 November 2013
	63,770,767 6,000,000	- -	5 cents 4cents	1 December 2013 14 November 2013
7.11 Debentures (totals only)
7.12 Unsecured notes(totals only)

• See chapter 19 for defined terms.

Appendix 5B Page 3

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.

Sign here: Date: 30 April 2012

Print name: Norman Grafton Company Secretary

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 4