ORCODA LIMITED — Interim / Quarterly Report 2011

Jan 30, 2012

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A.C.N. 009 065 650

Level 1, 614 Newcastle Street PO Box 334 LEEDERVILLE WA 6007 LEEDERVILLE WA 6903 Telephone: (08) 9228 1199 Facsimile: (08) 9228 2299 email:smarttrans@smarttrans.com.au Home Page: www.smarttrans.com.au

Quarterly Report

for the three months ended

31[st] December 2011

HIGHLIGHTS

Mobile Phone and Transport Systems

• SmartTrans builds integrated Mobile billing Application in China;

• MyLifeOnline web site and mobile content and application readied for launch;

• Advanced negotiations with Internet entrepreneur Zhenya Tsvetnenko;

• Project opportunities with China National Heavy Machinery Corporation.

Mineral Exploration

• Gold and copper targets in Queensland’s Connors Arch available for joint venture.

SmartTrans Holdings Ltd - Quarterly Report

December 2011

OVERVIEW

In China, SmartTrans has built its integrated billing platform incorporating China Mobile’s CMPay and China UnionPay’s interbank Internet payment system to facilitate billing of Internet and mobile telephone users in China.

The SmartTrans billing platform has been integrated into the MyLifeOnline web site and mobile application in preparation for launch.

Appropriate approvals from operators and authorities were sought and obtained to facilitate project launch and operation for the MyLifeOnline web site.

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MOBILE PHONE and TRANSPORT SYSTEMS – SmartTrans Limited (100% equity)

During the Quarter, SmartTrans worked with the Zhenya Group of Companies to complete the development of the www.MyLifeOnline web site as a platform focussed to deliver innovative mobile and Internet content in China.

As announced on 30 January 2012, SmartTrans is in advanced contract negotiations with the Zhenya Group of Companies to establish a company in Hong Kong which will be owned equally and which will provide Internet and Mobile Telephone software services to consumers in the People’s Republic of China.

Significant effort went into the development of SmartTrans’ payment platform integrating China Mobile’s CMPay and China UnionPay’s interbank Internet payment system into an Application Program Interface to be used by SmartTrans’ websites and mobile applications. These will also be made available to third parties to facilitate billing by SmartTrans on behalf of these parties. An SMS content delivery platform was also built and integrated to facilitate delivery of content to users.

During the Quarter SmartTrans worked on achieving, and successfully obtaining, appropriate approvals from the relevant operators and authorities for SmartTrans to commence the delivery of content and services from it www.MyLifeOnline.cn web site and mobile telephone applications to consumers in the People’s Republic of China.

Additionally, server environments were installed and configured in data centres to host and deliver SmartTrans’ services.

The SmartTrans billing platform allows for China Mobile telephone users to buy SmartTrans’ and third party products and services on their mobile telephones and over the internet and pay via their China Mobile CMPay account. The billing platform allows users of all telecommunication providers in China to pay direct from their Chinese bank account.

SmartTrans Holdings Ltd - Quarterly Report

December 2011

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The arrangement will also enable third parties to charge for their products and services in China.

Under negotiations, expected to be settled shortly, the Zhenya Group will provide its innovative internet marketing techniques and industry experience to maximise take up of the MyLifeOnline product by Chinese internet and mobile telephone users.

Mr Zhenya Tsvetnenko (http://about.me/zhenyatsvetnenko) is an internet entrepreneur who pioneered advertising on the Google content network on which he reportedly built a campaign delivering 22 billion views of advertisements (http://au.linkedin.com/in/zhenyatsvetnenko) and which, he advises, delivered 8,500,000 subscribers world-wide for premium mobile services.

The MyLifeonline.cn site will also provide for the distribution of the VODOne mobile lottery application which facilitates the purchase of lottery tickets and which allows users to top up their accounts using SmartTrans’ payment platform in addition to SmartTrans receiving a percentage of all wagered amounts.

SmartTrans has the exclusive right to provide the VODOne Lottery Application to China Mobile’s 650 million subscribers in China (Source: www.chinamobileltd.com) and the non-exclusive right to provide the Lottery Application to other subscribers in China and be well-placed to take advantage of the strong growth in lottery spend. (Lotteries posted an annual increase of 18.7 percent over the past five years. Source: http://news.xinhuanet.com/fortune/2011-02/08/c_13722112.htm).

Players will be able to download the lottery software from to their mobile telephone and self-pick or quick-pick their lottery numbers and to update their account balance through their handsets. The mobile telephone software offers advantages over traditional lottery purchasing methods by allowing players to make their purchasing decision whenever and wherever via their mobile telephone.

SmartTrans Holdings Ltd - Quarterly Report

December 2011

SmartTrans has developed an innovative digital marketing campaign to be applied to MyLifeOnline.cn upon launch.

Much of the work completed can be applied to the project proposed with China Mobile Shanxi for which SmartTrans awaits contract approval.

SmartTrans also continued to work closely with China National Heavy Machinery Corporation (CHMC) to review project opportunities in Australia with the two parties conducting field visits to potential projects during the Quarter as part of the project appraisal process.

CHMC reports that it has successfully contracted over 800 large complete plant projects in China and approximately twenty other countries in the industries of metallurgy, mining, port terminals, building material, forging and press, urban water supply, environment protection, power generating, bridge construction, grain stores, airport construction, urban construction, chemical industry, water conservancy, and nuclear power. (www.chmc2003.com:8640/gsjj.htm)

In Australia, SmartTrans continues to roll out and expand the user base of its innovative mobile software solutions.

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MINERAL EXPLORATION PROJECTS

Wangunda Joint Venture – China Minmetals Group (“MMG”) earning 70% equity (SmartTrans currently 100% equity, 56,320 hectares)

Under the terms of the joint venture agreement signed in 2006, MMG Australia Limited, formerly OZ Minerals Australia Limited, can earn 70% equity in the tenements by expenditure of at least $10 million over 7.5 years to the completion of a bankable feasibility study. MMG has spent $4 million thereby completing Stage Two of the agreement and has now progressed into the $6 million Stage Three.

There was no exploration field work undertaken during the quarter due to Wet Season conditions.

Connors Arch Joint Venture

This group, in which SmartTrans is in joint venture with Australia Oriental Minerals NL, covers three tenements in the South Connors Arch Province which is prospective for porphyry-style copper-gold deposits and epithermal gold deposits.

Mount Mackenzie Prospect (60% equity, 26,240 hectares )

Located at Coppermine Creek in Central Queensland, Mount Mackenzie is an advanced exploration project. Diamond drilling by SmartTrans, together with the development of a comprehensive geological and geophysical model, has demonstrated that Mt Mackenzie is one of the largest hydrothermal (high-sulphidation) systems in eastern Australia.

Drilling encountered significant gold and copper values in lead-zinc-silver mineralized breccias and extensive, intensely sulphidic, alteration under cover rocks at the “Instinct” Prospect located 500m to 1000m west of Mt Mackenzie.

SmartTrans Holdings Ltd - Quarterly Report

December 2011

Mineralisation is evident in:

• sulphide matrix polymict breccias of hydrothermal and probable intrusive origin;

• well developed multidirectional quartz- sulphide stockworks;

• vughy silica alteration, and;

• haematized and probable supergene zones related to palaeo weathering, immediately below the unconformity with the cover sequence.

The potential for extensions to this system lies under the volcanic cover outside the limits of all previous drilling.

SmartTrans believes there is also significant potential for high grade deposits at Mount Mackenzie.

SmartTrans is seeking a suitable joint venture partner for this project.

J P LAURIE GENERAL MANAGER

The section of this report that relates to mineral exploration is based on information compiled by a person who is a corporate member of the Australasian Institute of Mining and Metallurgy and who has a minimum of 5 years experience in the field of activity in which he is reporting and qualifies as a competent person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. This person, James Laurie, is a full time employee of the Company and consents to the inclusion in the report of the matters based on his information in the form and context in which they appear.

Appendix 5B Mining exploration entity quarterly report

Rule 5.3

Appendix 5B

Mining 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

Name of entity

SmartTrans Holdings Limited

	ABN 86 009 065 650 Consolidated statement of cash flows	ABN 86 009 065 650 Consolidated statement of cash flows	Quarter ended (“current quarter”) December 2011	Quarter ended (“current quarter”) December 2011
			December 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 (6 months) $A’000
		- (3) - - (229) - 4 - - (130)		- 8 - - (549) - 7 - - (462)
		(358)		(996)
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 (provide details if material) Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)		- - (7) - - - - - (37)		- - (7) 59 - - - - (37)
		(44)		15
		(402)		(981)

• 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)	(402)	(981)
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 (provide details if material) Net financing cash flows	666 - - - - -	1,246 - - - - -
	666	1,246
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	264 275 -	265 274 -
	539	539

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
		148
		-
1.25	Explanation necessaryfor an understandingof the transactions
	1.7 Other: Non-mining Subsidiary Sales 104 Government Grants 319 Less Cost of Goods (32) Less Expenses (526) Refund of Security Deposit 5 1.12 Other: Capital Raising Costs	(130) (37)

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.

Appendix 5B Page 2

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Appendix 5B Mining exploration entity quarterly report

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

Estimated cash outflows for next quarter

$A’000 4.1 Exploration and evaluation 10 4.2 Development - 4.3 Production - 4.4 Administration 215 Total 225

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)	539	275
Total: cash at end of quarter(item 1.22)	539	275

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

• See chapter 19 for defined terms.

17/12/2010 Appendix 5B Page 3

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 note3) (cents)	Amount paid up per security (see note3) (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 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital,buy-backs	1,192,318,527	1,192,318,527
	32,232,101	32,232,101
7.5 +Convertible debt securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted
7.7 Options (description and conversion factor) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	6,666,666 6,666,667 6,666,667		Exercise price $0.0186 $0.0186 $0.0186	Expiry date 7/10/2012 7/10/2013 7/10/2014
7.11 Debentures (totals only)
7.12 Unsecured notes (totals only)

• See chapter 19 for defined terms.

Appendix 5B Page 4

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Appendix 5B Mining exploration entity quarterly report

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 / ~~does not*~~ (delete one) give a true and fair view of the matters disclosed.

Sign here:

............................................................ Date: ............................ ( ~~Director~~ /Company secretary)

Print name: James Laurie.........................................................

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.

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• See chapter 19 for defined terms.

17/12/2010 Appendix 5B Page 5