RAND MINING LIMITED — Interim / Quarterly Report 2007

Jul 30, 2007

30 July 2007

The Listing Manager Australian Stock Exchange Level 10 20 Bond Street SYDNEY NSW 2000

Quarterly Report for June 2007

Highlights

• 19,260 tonnes of Raleigh ore at an estimated grade of 15 g/t remain on the Raleigh ROM Pad. Rand's 12.5% entitlement is to be hauled to the Greenfields plant for processing during the fifth treatment campaign.
• Approximately 24,000 tonnes of Raleigh ore grading approximately 16 g/t remain on the Greenfields ROM pad. Rand's 25% share is to be processed in the fifth treatment campaign.
• The EKJV employed 101 personnel, 12 dedicated to capital development and 89 to operations.

GEOLOGY AND MINING

EAST KUNDANA JOINT VENTURE

Raleigh Underground Mine Production

Production from the 6185, 6168, 6,152, 6136, 6102, 6085 and 6067 stopes continued during the quarter. The average width of stopes mined was less than the Feasibility Study design width of 3 metres, reducing the dilution of broken ore, resulting in reduced haulage and processing costs.

Stope development and stope ore mined estimated by grade control face chip sampling during the June 2007 Quarter is tabulated as follows:

	RALEIGH UNDERGROUND GRADE CONTROL ESTIMATES
Month	Tonnes	Grade	Ounces
	t	g/t	troy ounces
Apr 07	21,827	18.5	12,993
May 07	22,384	16.8	12,077
Jun 07	19,261	14.6	9,031
Jun 07 Q	63,472	16.7	34,100
Mar 07 Q	60,829	15.3	30,014
Project to date	376,852	16.4	199,366

Rand's Entitlements

	Rand's Entitlements (based on grade control estimates)
Month	Tonnes	Grade	Ounces
	t	g/t	troy ounces
Apr 07	2,728	18.5	1,624
May 07	2,798	16.8	1,510
Jun 07	2,408	14.6	1,129
Jun 07 Q	7,934	16.7	4,262
Mar 07 Q	7,604	15.4	3,752
Project to date	47,107	16.4	24,921

19,260 tonnes grading an estimated 14.6 g/t containing 9,000 oz of gold mined in June 2007 has been placed on the Raleigh Bed Blend stockpile. Rand's entitlement is 12.5%.

Raleigh Underground Mine Development

The Raleigh Underground decline was extended to the 5966m RL, 379 m below surface. During the June 2007 Quarter, 431m of capital development was completed, bringing the project to date total to 2,324 m.

Development progressed on the 6085, 6067, 6051, 6034, 6000 and 5966 levels. During the June 2007 Quarter 217m of secondary development were completed bringing the project to date total of 2,421m.The development of block B has commenced with mining stope panels from the northern extremity of the mine, such that lower stope panels developed on three levels lag behind the development of higher panels in an advancing front. This is an important part of the risk management to develop the deeper parts of the mine subject to an increase in stress with increasing depth. All mined stoped voids are progressively backfilled with cemented paste-fill to manage geotechnical risks and maximise ore recovery.

RALEIGH UNDERGROUND DEVELOPMENT
Month		Capital Development		Operating Development		Paste Fill
	DeclineSecondary		Waste	Ore (m)	Total (m)	Paste fill (m)
	(m)	(m)	(m)
Apr 07	32.0	25.0	28.0	318.0	464.0	24.0
May 07	73.0	84.5	67.0	278.0	491.0	28.0
Jun 07	56.0	107.9	78.0	236.0	501.0	16.0
Jun 07 Q	161.0	217.4	173.0	832.0	1,456.0	68.0
Mar 07 Q	214.0	217.0	191.0	797.0	1419.0	74.0
Project to date	2,324.0	2,421.0	1,417.0	6,146	12,308	375.0

Diagram showing the status of the mine at the end of June 2007 with stoped areas in solid emerald green accessed by a decline system from a portal developed near the base of the pit in brown. Red shows development completed in June 2007.

Mine operating costs incurred during the June 2007 Quarter were $129 per tonne mined or $241 per ounce mined compared with the March 2007 Quarter cost of $128 and $259 and project to date of $113 and $213 respectively.

Toll Processing

During the June 2007 Quarter 32,250 dry tonnes of Raleigh Ore has been hauled to the Greenfields processing plant. A total of 62,900 tonnes at 15.8 g/t for 31,988 ounces were available for processing in campaign 5 at 30 June 2007. The fifth processing campaign commenced on 28 May 2007 processing 39,108 tonnes at bullion reconciled feed grade of 16.1g/t, recovering 95.08% of the contained gold. Approximately 24,000 tonnes at 16g/t containing 11,000 ounces remain on stockpile at 30 June 2007. Completion of the processing campaign is expected to be in August 2007.

Bullion accredited to RAND and TRIBUNE
QuarterGoldSilverRand's share gold
December 06	33,476	4,524	8,130
June 07 06	14,657	1,951	3,664
Project Total	70,453	10,167	14,421

Resource Development

Discussions between the EKJV Manager and EKJV parties are on going to develop the Rubicon, Pegasus and Hornet underground resources.

The Hangingwall Vein resource was upgraded by nine diamond holes totalling 315 m drilled from the 6102 and 6067 levels. A new resource model generated upgraded the contained ounces of gold and demonstrated it is not economic above the 6080 m RL.

Hangingwall Vein Resource Diamond Drilling
Hole ID	Northing	Easting	RL	Azi	Incl	Depth		Significant Assays
							From	To	Intercept	Grade	Comment
	m	m	m	degrees	degrees	m	m	m	m	g/t
RUGD047	9180	18614 6111		254	-38	26.3	19.80	20.05	0.25	49.10 CR
RUGD041	9183	18646 6111		252	-28.5	32.2	24.10	24.20	0.10	99.80 CR
RUGD043	9183	18672 6112		256	-41	54.4					DR
RUGD045	9181	18694 6112		234	-43	58.5	53.95	54.33	0.38	8.52 CR
RUGD049	9165	18613 6077		255	20	21.0	10.65	10.75	0.10	121.00 CR
RUGD050	9166	18642 6078		258	21	25.0	12.98	13.10	0.12	42.90 CR
RUGD051	9166	18667 6078		256	39	41.0	27.50	27.65	0.15	0.39 DR
RUGD054	9166	18641 6077		257	37	30.0	23.40	23.70	0.30	107.00 CR
RUGD055	9165	18613 6078		256	43	27.0	24.00	25.20	1.20	98.00 UR
CR	Confirms Resource		DR	Downgrades Resource			UR		Upgrades Resource

EXPLORATION

EKJV Exploration

A revised geological model of the region has been generated. A number of exploration targets have been identified and ranked in order of priority for future evaluation.

OTHER EXPLORATION

Seven Mile Hill Joint Venture (Rand's Interest 50%)

The potential for further exploration targets for drill testing within the Seven Mile Hill tenements are limited and discussions to farm out the tenements are continuing.

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.

Name of entity

Rand Mining NL

41 004 669 658 30th June 2007

ABN Quarter ended ("current quarter")

Consolidated statement of cash flows

			Current quarter	Year to date
	Cash flows related to operating activities		$A'000	(12 months)
				$A'000
1.1	Receipts from product sales and related debtors		2,550	11,004
1.2	Payments for	(a) exploration and	(4)	(65)
		evaluation
		(b) development	(319)	(1,233)
		(c) production	(1,165)	(4,643)
		(d) administration	(157)	(884)
1.3	Dividends received
1.4	Interest and other items of a similar nature received		31	133
1.5	Interest and other costs of finance paid		(37)	(260)
1.6	Income taxes paid		57	57
1.7	Other (provide details if material)
	Net Operating Cash Flows		956	4,109
	Cash flows related to investing activities
1.8	Payment for purchases of: (a) prospects
		(b) equity investments	(65)	(361)
		(c) other fixed assets	(50)	(223)
1.9	Proceeds from sale of:	(a) prospects
		(b) equity investments	16	16
		(c) other fixed assets
1.10	Loans to other entities			(21)
1.11	Loans repaid by other entities			291
1.12	Other – Loans received from Tribune Resources
	- Loans repaid to Tribune Resources
	Net investing cash flows		(99)	(298)
1.13	forward)	Total operating and investing cash flows (carried	857	3,811

+ See chapter 19 for defined terms.

1.13	Total operating and investing cash flows
	(brought forward)	857	3,811
	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	(1,573)	(4,526)
1.18	Dividends paid
1.19	Other (provide details if material)
	Net financing cash flows	(1,573)	(4,526)
	Net increase (decrease) in cash held	(716)	(715)
1.20	Cash at beginning of quarter/year to date	2,150	2,149
1.21	Exchange rate adjustments
1.22	Cash at end of quarter	1,434	1,434

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	(27)
1.24	Aggregate amount of loans to the parties included in item 1.10

1.25 Explanation necessary for an understanding of the transactions Directors fees and superannuation (included in administration 1.2 (d)) (27) Royalty payment (included in production 1.2 (c)) (8)

The aggregate amount of loans (item 1.10) made to specified parties are as follows:

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

In January 2006, Tribune Resources NL loaned the Company 4,000 ounces of gold bullion. At the end of the quarter the Company has 300 ounces of this gold bullion still on hand.

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

Not applicable

+ See chapter 19 for defined terms.

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	4,750	4,719
3.2	Credit standby arrangements
		$A'000
	Loan principle outstanding	193

Estimated cash outflows for next quarter

	Total	310
4.2	Development	300
4.1	Exploration and evaluation	10
		$A'000

Reconciliation of cash

	Reconciliation of cash at the end of the quarter (asshown in the consolidated statement of cash flows) tothe related items in the accounts is as follows.	Current quarter$A'000	Previous quarter$A'000
5.1	Cash on hand and at bank	1,337	2,053
5.2	Deposits at call – Performance Bonds	97	97
5.3	Bank overdraft
5.4	Other
	Total: cash at end of quarter (item 1.22)	1,434	2,150

Changes in interests in mining tenements

		Tenement	Nature of interest	Interest at	Interest at
		reference	(note (2))	beginning	end of
				of quarter	quarter
6.1	Interests in miningtenements relinquished,reduced or lapsed
6.2	Interests in miningtenements acquired orincreased

+ 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	Issue price persecurity (see note3) (cents)	Amount paid up persecurity (see note 3)(cents)
7.1	Preference+securities(description)
7.2	Changes duringquarter(a) Increasesthrough issues(b) Decreasesthrough returnsof capital, buybacks,
7.3	redemptions+Ordinarysecurities	40,560,813	40,560,813
7.4	Changes duringquarter(a) Increasesthrough issues(b) Decreasesthrough returnsof capital, buybacks
7.5	+Convertibledebt securities
7.6	(description)Changes duringquarter(a) Increasesthrough issues(b) Decreasesthroughsecuritiesmatured,converted
7.7	Options(description andconversionfactor)			Exercise price	Expiry date
7.8	Issued during
7.9	quarterExercised duringquarter
7.10	Expired duringquarter
7.11	Debentures(totals only)
7.12	Unsecurednotes (totalsonly)

+ See chapter 19 for defined terms.

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: 30th July 2007
	(Director)

Print name: Anthony Billis

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 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.