MINDAX LIMITED — Interim / Quarterly Report 2013

Jan 27, 2014

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

Rule 5.3

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/2013 Name of entity

Mindax Limited

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

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 (6 months) $A’000
	- (681) - - (501) - 12 - - -	- (2,312) - - (1,164) - 37 - - -
	(1,170)	(3,439)
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)	- - - - - - - - -	- - (5) - - - - - -
	-	(5)
	(1,170)	(3,444)

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

1.13 Total operating and investing cash flows (brought forward)	(1,170)	(3,444)
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 Net financing cash flows	- - 300 - - -	- - 900 - - -
	300	900
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	(870) 1,786 -	(2,544) 3,460 -
	916	916

Payments to directors of the entity, associates of the directors, 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
		163
		-
1.25	Explanation necessaryfor an understandingof the transactions
	- Managing Director’s wages and superannuation - 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 reportingentityhas an interest

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity and oil and gas 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
			615
			-
			-
			593
Total			1,208

Includes circa $300k in estimated exploration expenditure for the Meekatharra North Joint Venture Project. Funds of $300k were received on 16 January 2014 and will form part of the 31 March 2014 Appendix 5B Quarterly Report.

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)	916	276
	-	1,510
	-	-
	-	-
Total: cash at end of quarter(item 1.22)	916	1,786

Changes in interests in mining tenements and petroleum tenements

6.1 Interests in mining tenements, exploration leases and petroleum tenements relinquished, reduced or lapsed	Tenement reference and location	Nature of interest (note (2))	Interest at beginning ofquarter	Interest at end of quarter
	Nil	Nil	Nil	Nil

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

6.2 Interests in mining tenements and petroleum tenements acquired or increased	Nil	Nil	Nil	Nil

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 note3)	Amount paid up per security (see note3)
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.	257,303,570	257,303,570
7.5 +Convertible debt securities (description)

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

			Total number	Number quoted		Issue price per security (see note3)		Amount paid up per security (see note3)
7.6	Changes during quarter ~~(a) Increases~~ ~~through issues~~ (b) Decreases through securities matured, converted		Issue of 5,000,000 ordinary shares on 15 November 2013 on conversion of convertible note (pursuant to shareholder approval granted 14 November 2013)	5,000,000		$0.12		$0.12
7.7 7.8 7.9 7.10	Options (description and conversion factor) Issued during quarter Exercised during quarter Lapsed during quarter		Employees 1,100,000 Other 2,321 Directors 4,000,000 2,500,000	- - - -		Exercise price $0.60 $0.35 $0.108 $0.11		Expiry date 30 September 2014 31 May 2015 9 November 2015 10 December 2015
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 5).

• 2 This statement does give a true and fair view of the matters disclosed.

Sign here: .................................................................. Date: 28 January 2014 Company Secretary

Print name: Christopher Pougnault

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity and oil and gas 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 6:Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.

• 5 Accounting Standards: ASX will accept, for example, the use of International Financial Reporting 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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