PACIFIC RESOURCES LIMITED — Interim / Quarterly Report 2012

Apr 29, 2012

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

COALBANK LIMITED

ABN 20 075 877 075	Quarter ended (“current quarter”)
20 075 877 075	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 & 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) BAS refunds received from the ATO Net Operating Cash Flows	Current quarter $A’000	Year to date (9 months) $A’000
	‐ (1,176) ‐ ‐ (505) ‐ 8 ‐ ‐ 148	‐ (3,376) ‐ ‐ (1,618) ‐ 73 ‐ ‐ 303
	(1,525)	(4,618)
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)	‐ ‐ (90) ‐ ‐ ‐ ‐ ‐ (5)	‐ ‐ (90) ‐ ‐ ‐ ‐ ‐ (64)
	(95)	(154)
	(1,620)	(4,772)

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

Appendix 5B Mining exploration entity quarterly report
1.13 Total operating and investing cash flows (brought forward)	(1,620)	(4,772)
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) Proceeds from issue of convertible bonds Share issue expenses Net financing cash flows	5,000 ‐ ‐ ‐ ‐ ‐ (274)	6,900 ‐ ‐ ‐ ‐ 1,900 (511)
	4,726	8,289
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	3,106 1,216 ‐	3,517 805 ‐
	4,322	4,322

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
		84
		‐
1.25	Explanation necessaryfor an understandingof the transactions

Non‐cash financing and investing activities

2.1 2.2	Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows
	Nil
	Details of outlays made by other entities to establish or increase their share in projects in which the reportingentityhas an interest
	Nil

• 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 used $A’000
	Nil	Nil
	Nil	Nil

Estimated cash outflows for next quarter

4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration	$A’000
	2,612
	‐
	‐
	295
Total	2,907

Reconciliation of cash

Reconciliation of cash	Reconciliation of cash
Reconciliation of cash at the end of the quarter (as		Current quarter		Previous quarter
shown	in the consolidated statement of cash flows)	$A’000		$A’000
to the related items in the accounts is as follows.
5.1	Cash on hand and at bank		68		99
5.2	Deposits at call		4,254		1,117
			‐		‐
5.3	Bank overdraft
			‐		‐
5.4	Other (provide details)
	Total: cash at end of quarter(item 1.22)		4,322		1,216

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
	Nil
	Nil

• 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 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	N/A
7.3 +Ordinary securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy‐ backs	812,931,073	812,931,073	Fully paid	Fully paid
	83,333,333	83,333,333	6 cents	Fully paid
7.5 +Convertible debt securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted	380	‐	500,000 cents	Fully paid
7.7 Options (description and conversion factor) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	40,000,000 3,000,000 6,000,000 3,000,000 4,000,000	‐ ‐ ‐ ‐ ‐	Exercise price 25 cents 10.33 cents 9.74 cents 8.25 cents 10.0 cents	Expiry date 02/09/14 02/06/13 29/06/12 08/08/13 08/08/13
	N/A
	N/A
	N/A

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

7.10A Performance rights Changes during the quarter (a) Increases through issues (b) Decreases through securities converted	8,250,000	‐	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 5).

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

==> picture [96 x 38] intentionally omitted <==

Sign here: (Company secretary)

Date: 30 April 2012

Print name: Leni Stanley

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.

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

• 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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