MINDAX LIMITED — Interim / Quarterly Report 2011

Oct 24, 2011

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

	Name of entity
	Mindax Limited
	ABN 28 106 866 442 Consolidated statement of cash flows
			30 September 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 (3 months) $A’000
		- (931) - - (601) - 33 - - -		- (931) - - (601) - 33 - - -
		(1,499)		(1,499)
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 (Rental Security Bond) Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)		- - (14) - - - - - -		- - (14) - - - - - -
		(14)		(14)
		(1,513)		(1,513)

• 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)	(1,513)	(1,513)
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	4,750 - - - - (391)	4,750 - - - - (391)
	4,359	4,359
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 ofquarter	2,846 1,974 -	2,846 1,974 -
	4,820	4,820

1.22 Cash at end ofquarter 4,820 4,820	1.22 Cash at end ofquarter 4,820 4,820	1.22 Cash at end ofquarter 4,820 4,820	1.22 Cash at end ofquarter 4,820 4,820
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
			173
			-
1.25 Explanation necessaryfor an understandingof the transactions - Managing Director’s wages and superannuation - Non-Executive Directors’ fees and superannuation 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 reportingentityhas an interest		Explanation necessaryfor an understandingof the transactions
		- Managing Director’s wages and superannuation - Non-Executive Directors’ fees and superannuation
	Details of outlays made by other entities to establish or increase their share in projects in which the reportingentityhas an interest

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 3.2 Credit standby arrangements

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

Estimated cash outflows for next quarter

Estimated cash outflows for next quarter
4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration	$A’000
	2,000
	-
	-
	500
Total	2,500

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 (provide details)	798	905
	4,022	1,069
Total: cash at end of quarter(item 1.22)	4,820	1,974

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 ofquarter	Interest at end of quarter
	E29/809 E70/4062 E77/1918	Tenement granted Tenement granted Tenement granted	0% 0% 0%	100% 53% 53%

• 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)	Amount paid up per security (see note 3)
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	170,514,576	170,514,576
	Issue of 19,000,000 Ordinary Shares on 15 August 2011 Issue of 2 fully paid ordinary shares on the conversion of 2 listed options on 13 July 2011. Issue of 7 fully paid ordinary shares on the conversion of 7 listed options on 18 July 2011.	19,000,000 2 7	$0.25 $0.75 $0.75	$0.25 $0.75 $0.75
7.5 +Convertible debt securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

7.7 Options (description and conversion factor) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter		Listed Options 64,938,800 19,000,000 Unlisted Options 3,000,000 Directors/ Employees/ Consultants 250,000 300,000 1,800,000	64,938,800 19,000,000 - - - -	Exercise price $0.75 $0.30 $0.75 $0.53 $0.48 $0.60	Expiry date 1 December 2011 30 April 2012 1 December 2011 1 August 2012 12 October 2012 31 March 2012
		Issue of 19,000,000 Options on 15 August 2011	19,000,000	Exercise price $0.30	Expiry date 30 April 2012
		2 Listed Options were exercised on 13 July 2011 7 Listed Options were exercised on 18 July2011	2 7	Exercise price $0.75 $0.75	Expiry date 1 December 2011 1 December 2011
7.11 Debentures (totals only)
7.12 Unsecured notes(totals only)

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: 25 October 2011 Company Secretary

Print name: Angelo Francesca

• 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.

== == == == ==

• See chapter 19 for defined terms.

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