ORBMINCO LIMITED — Interim / Quarterly Report 2012

Apr 29, 2012

APPENDIX 5B

Mining exploration entity quarterly report

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

Name of entity

Name of entity	Name of entity
Australian-American Mining Corporation Limited
ABN 99 073 155 781	Quarter ended (“current quarter”)
99 073 155 781	31 March 2012

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 and 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 (12 months) $A’000
	- (274) - - (402) - 7 - - -	- (2,493) - - (1,521) - 37 - - -
	(669)	(3,977)
Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects (b) investments (c) other fixed assets 1.9 Proceeds from sale of: (a) prospects (b) investments (c) other fixed assets 1.10 Loans to other entities 1.11 Loans repaid by other entities 1.12 Contributions from joint venture 1.13 Payments for joint venture operations 1.14 Movement in security deposits Net investing cash flows	- - - - - - - - - - -	- - (17) - - - - - - - -
	-	(17)

1.15 Total operating and investing cash flows (brought forward)	(669)	(3,994)
Cash flows related to financing activities 1.16 Proceeds from issues of shares, options, etc. 1.17 Proceeds from auction of partly paid shares 1.18 Proceeds from borrowings 1.19 Repayment of borrowings 1.20 Proceeds from convertible notes 1.21 Other (share issue costs) Net financing cash flows	71 - - - 300 -	71 - - - 300 -
	371	371
Net increase (decrease) in cash held 1.22 Cash at beginning of quarter/year to date 1.23 Exchange rate adjustments to item 1.20 1.24 Cash at end of quarter	(298) 1,013 (38)	(3,623) 4,265 35
	677	677

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

1.25 1.26	Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to theparties included in item 1.10	Current quarter $A'000
		(90)
		-
1.27	Explanation necessaryfor an understandingof the transactions
	Payments to directors for services to the group.

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

None.

• 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

None.

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
	-	-
	-	-

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 Total	$A’000
	200
	-
	-
	200
	400

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 Commercial Bills 5.4 Other Total: cash at end of quarter(item 1.22)	677	1,013
	-	-
	-	-
	-	-
	677	1,013

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	Interest at beginning of quarter	Interest at end of quarter

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.

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 Fully Paid 7.4 Changes during quarter (a) Fully paid Increases through issues	68,740,705*	68,740,705*
	862,069 536,308	862,069 536,308	0.058 cents 0.039 cents	Fully Paid Fully Paid
7.5 Convertible debt securities(description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities converted	-	-	-	-
7.7 Options Listed Unlisted Unlisted Unlisted Unlisted Unlisted Unlisted 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter 7.11Performance Rights (totals only) 7.12Unsecured notes	35,355,252 1,600,000 61,729 37,037 55,556 60,000 600,000	35,355,252* - - - - - -	Exercise price $0.50 $0.231 $0.2105 $0.2105 $0.2105 $0.325 $0.0595	Expiry date 31 December 2012 15 September 2013 6 October 2013 13 October 2013 20 October 2013 16 November 2013 1 March 2015
	100,000 80,000	-	$6.00 $1.00	18 February 2012 01 January 2012
	-	-
	-	-

(totals only) - -

*Note: A 1 for 5 share consolidation was completed on 28 September 2011

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

Company Secretary

Print name: Jim Malone

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 applies 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.