RAND MINING LIMITED — Interim / Quarterly Report 2013

Jul 23, 2013

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July 24, 2013

The Listing Manager Australian Securities Exchange Level 4 20 Bridge Street SYDNEY NSW 2000

Quarterly Report for June 2013

Highlights

• During the quarter, 108,329 tonnes of EKJV ore were processed at the Kanowna Plant.

• 19,133.040 oz of gold and 2,787.734 oz of silver were credited to Rand and Tribune Bullion Accounts.

• (Rand’s share is 25%)

• At the end of the quarter

approximately 13,200 tonnes of Raleigh ore at an estimated grade of 14.6 g/t remain as a Bed Blend Stockpile on the ROM pad at the Raleigh Mine (Rand’s entitlement is 12.5%)

approximately 8,800 tonnes of Rubicon ore at an estimated grade of 7.2 g/t remain as a Bed Blend Stockpile on the ROM pad at the Rubicon Mine (Rand’s entitlement is 12.25%)

approximately 10,100 tonnes of Rubicon ore at an estimated grade of 10.6 g/t remain as a Bed Blend Stockpile on the ROM pad at the Kanowna Belle Plant.

(Rand’s entitlement is 12.25%)

GEOLOGY AND MINING

EAST KUNDANA JOINT VENTURE

Raleigh Underground Mine Production

Stope production from the 5847, 5830, 5812, 5795, 5778, 5761, 5744, 5722, 5705, 5688, 5671, 5654 and 5631 levels continued during the quarter.

Contained gold in stope development and stope ore mined during the quarter, estimated by grade control face chip sampling, is tabulated below:

5654 and 5631 levels continued during the quarter. Contained gold in stope development and stope ore mined during the quarter, estimated grade control face chip sampling, is tabulated below:	5654 and 5631 levels continued during the quarter. Contained gold in stope development and stope ore mined during the quarter, estimated grade control face chip sampling, is tabulated below:	5654 and 5631 levels continued during the quarter. Contained gold in stope development and stope ore mined during the quarter, estimated grade control face chip sampling, is tabulated below:	5654 and 5631 levels continued during the quarter. Contained gold in stope development and stope ore mined during the quarter, estimated grade control face chip sampling, is tabulated below:
RALEIGH UNDERGROUND GRADE CONTROL ESTIMATES
Month	Tonnes	Grade	Ounces
	t	g/t	troy oz
April	12,614	15.35	6,226
May	14,892	12.24	5,860
June	13,048	14.65	6,146
June 13Q	40,554	14.0	18,232
March 13Q	35,462	16.9	19,313

Rand’s Entitlements (12.5%)

June 13Q	5,069	14.0	2,279
March 13Q	4,433	16.9	2,414

Approximately 13,200 tonnes remain as a Bed Blend Stockpile on the ROM pad at the Raleigh Mine and will be hauled in early July.

Raleigh Underground Mine Development

At the end of the quarter, the bottom of the Raleigh Decline is at 5618 m RL, 727 m from the surface.

Development has finished.

	RALEIGH UNDERGROUND DEVELOPMENT
Month	Capital			Operating
	Decline (m)	Secondary (m)	Waste (m)	Ore (m)	Paste Fill (m)
April	0.0	0.0	0.0	0.0	40.0
May	0.0	0.0	0.0	0.0	25.0
June	0.0	0.0	0.0	0.0	25.0
June 13Q	0.0	0.0	0.0	0.0	90.0
March 13Q	0.0	0.0	0.0	0.0	75.0

The diagrams below show the status of the mine at the end of each month of the quarter.

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April 13 Green indicates new development at Raleigh
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May 13 Green indicates new development at Raleigh

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June 13 Green indicates new development at Raleigh

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Mine operating costs incurred during the June 2013 Quarter were $173 per tonne mined or $384 per ounce mined compared with the March 2013 Quarter costs of $243 and $446 respectively.

Rubicon Underground Mine Production

During the quarter development of the Rubicon ore body has recommenced on the 6075 level. Development of the Hornet ore body progressed on the 6245, 6225, 6065, 6045, 6025, 6005 and 5985 levels. Stope production from the Rubicon 6155, 6135, 6115 and 6095 levels and Hornet 6185, 6165, 6145, 6125, 6105 and 6085 levels continued during the quarter.

Contained gold in stope development mined during the quarter, estimated by grade control face chip sampling, is tabulated below:

chip sampling, is tabulated below:	chip sampling, is tabulated below:	chip sampling, is tabulated below:	chip sampling, is tabulated below:
RUBICON UNDERGROUND GRADE CONTROL ESTIMATES
Month	Tonnes	Grade	Ounces
	t	g/t	troy oz
April	26,769	9.67	8,319
May	25,547	11.61	9,537
June	18,460	9.09	5,392
June 13Q	70,776	10.2	23,247
March 13Q	63,783	10.7	21,974

Rand’s Entitlements (12.25%)

June 13Q	8,670	10.2	2,848
March 13Q	7,813	10.7	2,692

Approximately 8,800 tonnes remain as a Bed Blend Stockpile on the ROM pad at the Rubicon Mine and will be hauled in early July.

Rubicon Underground Mine Development

At the end of the quarter, the bottom of the Rubicon Decline is at 6067 m RL, 276 m from the surface, the bottom of the Hornet Decline is at 5955 m RL, 388 m from the surface and the top of the Hornet Incline is at 6244 m RL, 99 m from the surface.

	RUBICON UNDERGROUND DEVELOPMENT
Month	Capital			Operating
	Decline (m)	Secondary (m)	Waste (m)	Ore (m)	Paste Fill (m)
April	45.2	71.4	0.0	227.2	10.0
May	60.6	94.6	6.9	202.3	30.0
June	66.1	43.6	6.3	191.3	25.0
June 13Q	171.9	209.6	13.2	620.8	65.0
March 13Q	275.8	221.6	43.4	729.9	55.0

The diagrams below show the status of the mine at the end of each month of the quarter.

April 13 Green indicates new development at Rubicon and Hornet

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May 13 Green indicates new development at Rubicon and Hornet

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June 13 Green indicates new development at Rubicon and Hornet

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Mine operating costs incurred during the June 2013 Quarter were $140 per tonne mined or $426 per ounce mined compared with the March 2013 Quarter costs of $150 and $435 respectively.

Toll Processing

During the quarter, no EKJV ore was hauled to or processed at the Greenfields Plant. No EKJV ore remains on the ROM pad at the Greenfields Plant. The difference of the Gold in Circuit at the start and end of Campaign 25 has been agreed and credited to Rand and Tribune Bullion Accounts.

the start and end of Campaign 25 has been agreed and credited to Rand Accounts.	the start and end of Campaign 25 has been agreed and credited to Rand Accounts.	the start and end of Campaign 25 has been agreed and credited to Rand Accounts.	the start and end of Campaign 25 has been agreed and credited to Rand Accounts.
Bullion accredited to RAND and			TRIBUNE
Quarter	Gold(oz)	Silver(oz)	Rand’s sharegold
June 13	1,897.136	0.000	474.284
March 13	3,682.258	628.492	920.564

During the quarter, 40,200 tonnes (wet) of Raleigh ore and 75,700 tonnes (wet) of Rubicon ore were hauled to the Kanowna Belle Plant. During the quarter, 108,329 tonnes of EKJV ore were processed.

Bullion accredited to RAND and TRIBUNE from Kanowna Belle
Quarter	Gold(oz)	Silver(oz)	Rand’s sharegold
June 13	17,235.904	2,787.734	4,308.976
March 13	17,686.104	3,431.461	4,421.526

EKJV Exploration

The Quarterly Report of the EKJV exploration activities is expected shortly and will be released to the ASX when received.

OTHER EXPLORATION

Wongan Hills (Rand’s Interest 100%)

A drilling programme to test previously reported anomalies has been planned and will start when a drill rig is available.

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

Discussions to farm out the Seven Mile Hill tenements are continuing.

Tapeta Iron Ore Project, Liberia, West Africa

Drilling is continuing.

Results will be announced when assays become available.

Appendix 5B Mining exploration entity quarterly report

Rule 5.3

Appendix 5B

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10.

Name of entity

Rand Mining Ltd

	ABN 41 004 669 658 Consolidated statement of cash flows		Quarter ended (“current quarter”) 30 June 2013	Quarter ended (“current quarter”) 30 June 2013
			30 June 2013
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 (12 months) $A’000
			5,017 (568) (453) (1,892) (1,481) ‐ 11 (50) (711) ‐	26,854 (2,003) (2,931) (9,321) (4,863) ‐ 67 (288) (3,161) ‐
			(127)	4,354
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 to other entities 1.12 Loans from other entities Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)			‐ (240) ‐ ‐ ‐ 9 ‐ ‐ ‐	‐ (742) ‐ ‐ ‐ 9 ‐ ‐ ‐
			(231)	(733)
			(358)	3,621

• 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)	(358)	3,621
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	‐ ‐ ‐ (875) ‐ ‐	‐ ‐ ‐ (3,250) ‐ ‐
	(875)	(3,250)
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	(1,233) 3,289 ‐	371 1,685 ‐
	2,056	2,056

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
		(35)
		‐
1.25	Explanation necessaryfor an understandingof the transactions
	Directors fees and superannuation (included in administration 1.2(d)) (29) Royalty payment (included in production 1.2(c)) (6)

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

Not applicable

• 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.

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Appendix 5B Mining exploration entity quarterly report

Financing facilities available

Add notes as necessary for an understanding of the position.

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
	‐	5,000
	‐	‐

Estimated cash outflows for next quarter

4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration	$A’000
	500
	600
	500
	500
Total	2,100

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) to	$A’000	$A’000
the related items in the accounts is as follows.
5.1 Cash on hand and at bank	1,871	3,104
5.2 Deposits at call	185	185
5.3 Bank overdraft	‐	‐
5.4 Other (provide details)	‐	‐
Total: cash at end of quarter(item 1.22)	2,056	3,289

Changes in interests in mining tenements

6.1 Interests in mining tenements relinquished, reduced or lapsed	Tenement reference	Nature of interest (note (2))	Interest at beginning ofquarter	Interest at end of quarter

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

6.2	Interests in mining
	tenements acquired or
	increased

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 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 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy‐ backs	60,841,209	60,841,209
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

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

7.10 Expired during quarter
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 4).

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

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Sign here: ............................................................ Date: 24 July 2013 (Director/Company secretary)

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.

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