MINDAX LIMITED — Interim / Quarterly Report 2013

Apr 28, 2013

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

Mindax Limited

ABN 28 106 866 442	Quarter ended (“current quarter”)
28 106 866 442	31 March 2013

Consolidated statement of cash flows

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 & 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 Net Operating Cash Flows	Current Quarter $A’000	Year to date (9 months) $A’000
	- (1,113) - - (544) - 42 - - -	- (2,204) - - (1,595) - 85 - - -
	(1,615)	(3,714)
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)	- - (2) - - - - - -	- - (14) - - - - - -
	(2)	(14)
	(1,617)	(3,728)

• 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)	(1,617)	(3,728)
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 1.15 Meekatharra North JV Funding 1.16 Proceeds from borrowings – convertible note 1.17 Repayment of borrowings (conversion of Convertible Note) 1.18 Dividends paid 1.19 Other (capital raising costs) Net financing cash flows	1,850 400 - - - -	5,736 500 399 (399) - (125)
	2,250	6,111
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	633 3,951 -	2,383 2,201 -
	**4,584 **	**4,584 **

• Note: A new line item has been created this quarter to separately record the funds received for the Meekatharra North JV. As $100k JV funding was received in the December quarter and reported under 1.14, Mindax has adjusted the year to date figure by this amount and taken the value up under “1.15 Meekatharra North JV Funding”.

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
		272
		-
1.25	Explanation necessaryfor an understandingof the transactions
	- Managing Director’s wages and superannuation - Directors’ fees & Board sub-committee fees - Reimbursement of directors’ business related expenses

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

• 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 available $A’000	Amount used $A’000
Estimated cash outflows for next quarter
4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration			$A’000
			1,730
			-
			-
			570
Total			2,300

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)	1,747	410
	2,837	3,541
	-	-
	-	-
Total: cash at end of quarter(item 1.22)	4,584	3,951

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 **
	Nil change
	L30/52	Groundwater search licence	0%	100%

• 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.	252,303,568	252,303,568
	Issue of 16,500,000 ordinary shares on 14 January 2013 to sophisticated investors. Issue of 5,000,000 ordinary shares on 7 February 2013 to sophisticated investors.	16,500,000 5,000,000	$0.10 $0.10	$0.10 $0.10
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

		Total number	Number quoted		Issue price per security (see note 3)		Amount paid up per security (see note 3)
7.7 Options (description and conversion factor) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter		Employees 1,750,000 1,750,000 Other 2,323	- - -		Exercise price $0.45 $0.60 $0.35		Expiry date 30 September 2013 30 September 2014 31 May2015
		Directors 4,000,000 2,500,000	- -		Exercise price $0.108 $0.11		Expiry date 9 November 2015 10 December 2015
		-	-		Exercise price		Expiry date
		-	-		Exercise price		Expiry date
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.

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Sign here: .................................................................. Date: 29 April 2013 Company Secretary

Print name: Christopher Pougnault

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.

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly 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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