ORBMINCO LIMITED — Interim / Quarterly Report 2007

Apr 29, 2007

Appendix 5B

Rule 5.3

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.

	MONARO MINING NL
--	------------------

ABN

99 073 155 781

Quarter ended ("current quarter")

Year to date (9 months)

\$A'000

31 MARCH 2007

Current quarter

\$A'000

Consolidated statement of cash flows

Cash flows related to operating activities

1.1	Receipts from product sales and related debtors
1.2	(a) exploration and evaluation Payments for (b) development production (c)	(221)	(744)
	(d) administration	(311)	(865)
1.3 1.4 1.5 1.6 1.7	Dividends received Interest and other items of a similar nature received Interest and other costs of finance paid Income taxes paid Other	80	159
	Net Operating Cash Flows	(452)	(1,450)
1.8 1.9	Cash flows related to investing activities Payment for purchases of: (a)prospects (b)equity investments (c) other fixed assets (d) exploration Proceeds from sale of: (a)prospects (b) equity investments	(47) (83) (61)	(10) (47) (121) (61) 50
1.10 1.11 1.12	(c)other fixed assets Loans to other entities Loans repaid by other entities Other (Forex revaluation)	(5)	(11)
	Net investing cash flows	(196)	(200)
1.13	Total operating and investing cash flows (carried forward)	(648)	(1,650)

⁺ See chapter 19 for defined terms.

1.13	Total operating and investing cash flows (brought forward)	(648)	(1,650)
1.14 1.15 1.16 1.17 1.18	Cash flows related to financing activities Proceeds from issues of shares, options, etc. Proceeds from sale of forfeited shares Proceeds from borrowings Repayment of borrowings (Refund Director Loan) Dividends paid	570	4,170
1.19	Other (Share Issue Expenses)	(50)	(180)
	Net financing cash flows	520	3,990
	Net increase (decrease) in cash held	(128)	2,340
1.20 1.21	Cash at beginning of quarter/year to date Exchange rate adjustments to item 1.20	5,480 (3)	3,015 (6)
1.22	Cash at end of quarter	5,349	5,349

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

		Current quarter \$A'000
1.23	Aggregate amount of payments to the parties included in item 1.2	118
1.24	Aggregate amount of loans to the parties included in item 1.10

1.25 Explanation necessary for an understanding of the transactions

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.

Financing facilities available
Add notes as necessary for an understanding of the position.

		Amount available \$A'000	Amount used \$A'000
-3.1	Loan facilities
-3.2	Credit standby arrangements

Estimated cash outflows for next quarter

	Total	600
4.2	Development
4.1	Exploration and evaluation	600
		\$A'000

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	55	252
5.2	Deposits at call	521	205
5.3	Commercial Bills	4.575	5,023
5.4	Funds in Transit	198
	Total: cash at end of quarter (item 1.22)	5,349	5,480

Changes in interests in mining tenements

		Tenement reference	Nature of interest (note (2))	Interest at beginning of quarter	Interest at end of quarter
6.1	Interests in mining tenements relinquished, reduced or lapsed
6.2	Interests in mining tenements acquired or increased	EL 6694 Wymah (NSW) EL 25406 Fog Bay (NT) EL 25399 Compass Creek (NT)	All granted during Quarter in favour of previously lodged applications	100% Earning up to 75% Earning up to 75%	100% Earning up to $75%$ Earning up to 75%

⁺ See chapter 19 for defined terms.

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	price Issue 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
	Fully Paid	23,775,350	23,775,350	N/A	N/A
	Part-Paid	5,200,000	0	$0.001$ cent	0.001 cent
7.4	Changes during
	quarter
	(a) Fully paid	875,250	875,250	N/A	N/A
	Increases through issues
	(b) Decreases
	through returns of capital, buy-backs
7.5	*Convertible debt
	securities (description)
7.6	Changes during quarter
	(a) increases through issues
	(b) Decreases through
	securities matured, converted
7.7	Options			Exercise price	Expiry date
	Unlisted	1,200,000	N/A	40 cents	30 June 2007
	Unlisted	1,800,000	N/A	60 cents	31 December 2008
	Listed Incentive	4,749,775 350,000	4,749,775 N/A	120 cents 107 cents	31 July 2007 19 April 2011
	Incentive	750,000	N/A	175 cents	31 December 2008
7.8	Issued during			Issue Price	Expiry Date
	quarter	50,000	N/A	N/A	31 December 2008
7.9	Exercised during			Exercise Price	Expiry Date
	quarter	600,000	N/A	40 cents	30 June 2007
		275,250	N/A	120 cents	31 July 2007
7.10	Expired during			Exercise Price	Expiry Date
	quarter
7.11	Debentures
	(totals only)
7.12	Unsecured notes
	(totals only)

⁺ See chapter 19 for defined terms.

Compliance statement

1

$\overline{2}$

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).

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

Wart Kampe Sian here:

Date:

Print name:

MART RAMPE (DIRECTOR)

30/4/2007

Notes

• $\ddagger$ 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.
• $\overline{2}$ 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.
• The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: 4 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.