RIEDEL RESOURCES LIMITED — Interim / Quarterly Report 2012

Jul 30, 2012

Appendix 5B

Rule 5.3

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

Riedel Resources Limited

91 143 042 022 30 June 2012

ABN Quarter ended ("current quarter")

Consolidated statement of cash flows

	Cash flows related to operating activities	Current quarter$A'000	Year to date(12 .months)$A'000
1.1	Receipts from product sales and relateddebtors	-	-
1.2	Payments for(a) exploration & evaluation(b) development(c) production	(965)--	(2,294)--
1.31.4	(d) administrationDividends receivedInterest and other items of a similar naturereceived	(298)-24	(1,189)-189
1.51.61.7	Interest and other costs of finance paidIncome taxes paidOther (provide details if material)	---	---
	Net Operating Cash Flows	(1,240)	(3,294)
1.8	Cash flows related to investing activitiesPayment for purchases of:(a) prospects(b) equity investments(c) other fixed assets	(1,114)--	(1,139)-(196)
1.9	Proceeds from sale of:(a) prospects(b) equity investments(c) other fixed assets	---	110--
1.101.111.12	Loans to other entitiesLoans repaid by other entitiesOther (provide details if material)Cash acquired with acquisition of	--	--
	subsidiaryNet investing cash flows	-(1,114)	-(1,225)
1.13	Total operating and investing cash flows(carried forward)	(2,354)	(4,519)

+ See chapter 19 for defined terms.

1.13	Total operating and investing cash flows(brought forward)	(2,354)	(4,519)
1.14	Cash flows related to financing activitiesProceeds from issues of shares, options,etc.	990	1,160
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)
	Capital Raising Costs	(46)	(62)
	Net financing cash flows	944	1,098
	Net increase (decrease) in cash held	(1,410)	(3,421)
1.201.21	Cash at beginning of quarter/year to dateExchange rate adjustments to item 1.20	2,307	4,318
1.22	Cash at end of quarter	897	897

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	$178
1.24	Aggregate amount of loans to the parties included in item 1.10	Nil

1.25 Explanation necessary for an understanding of the transactions Directors wages, Directors fees, and company secretarial fees, including Directors fees, company secretarial fees and consulting fees payable to Zen Magnolia Pty Ltd, a company to which Mr Bruce Franzen is a Director and Shareholder.

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

Issue of 12,500,000 shares to Golden Rim Resources Limited for the acquisition of Burkina Faso Gold Permits.

Issue of 500,000 shares to Consultant as incentive/remuneration.

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.

Financing facilities available

Add notes as necessary for an understanding of the position.

		Amount available$A'000	Amount used$A'000
3.1	Loan facilities	Nil	Nil
3.2	Credit standby arrangements	Nil	Nil

Estimated cash outflows for next quarter

		$A'000
4.1	Exploration and evaluation	500
4.2	Development	Nil
4.3	Production	Nil
4.4	Administration	300
	Total	$800

Reconciliation of cash

Reconciliation of cash at the end of the quarter (asshown in the consolidated statement of cashflows) to the related items in the accounts is asfollows.		Current quarter$A'000	Previous quarter$A'000
5.1	Cash on hand and at bank	347	1,257
5.2	Deposits at call	-	-
5.3	Bank overdraft	-	-
5.4	Other (provide details) - Term Deposits	550	1,050
	Total: cash at end of quarter (item 1.22)	$897	$2,307

Changes in interests in mining tenements

		Tenementreference	Nature ofinterest(note (2))	Interest atbeginningof quarter	Interest atend ofquarter
6.1	Interests in miningtenementsrelinquished, reducedor lapsed
6.2	Interests in mining	Tagou – 08-149	Staged Payments	0%	100%
	tenements acquired	Gonsin – 09-229	Staged Payments	0%	100%
	or increased	Galgouli – 09-114	Staged Payments	0%	100%
		Moaga – 08-143	Staged Payments	0%	100%
		Keri – 09-163	Staged Payments	0%	100%
		E77/1793	Granted	0%	100%

+ 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	Numberquoted	Issue price persecurity (seenote 3) (cents)	Amount paid upper security (seenote 3) (cents)
7.1	Preference+securities(description)	Nil
7.2	Changes duringquarter(a) Increasesthrough issues(b) Decreasesthrough returnsof capital, buybacks,redemptions	N/A
7.3	+Ordinarysecurities	79,913,464	54,013,464
7.4	Changes duringquarter(a) Increasesthrough issues(b) Decreasesthrough returnsof capital, buybacks	12,500,0008,608,704500,000	12,500,0008,608,704500,000	1411.510.5	1411.510.5
7.5	+Convertibledebt securities(description)	Nil
7.6	Changes duringquarter(a) Increasesthrough issues(b) Decreasesthroughsecuritiesmatured,converted	N/A

+ See chapter 19 for defined terms.

7.7	Options(description and	10,000,000	Nil	Exercise price30c	Expiry date30 June 2014
	conversionfactor)	29,094,050	29,094,050	20c	30 Nov 2012
	PerformanceRights	2,666,667vestingwhenthe Company'sshare price isequaltoorgreaterthanAu27 cents for20 consecutivetrading days	Nil	Nil	25 July 2014
		2,666,667vesting whenthe Company'sshare price isequal to orgreater thanAu36 cents for20 consecutivetrading days	Nil	Nil	25 July 2014
		2,666,666vestingwhenthe Company'sshareprice isequaltoorgreaterthanAu45cents for20 consecutivetrading days	Nil	Nil	25 July 2014
7.8	Issued duringquarter	Nil	Nil
7.9	Exercised duringquarter	Nil	Nil
7.10	Expired duringquarter	Nil	Nil
7.11	Debentures(totals only)	Nil
7.12	Unsecurednotes (totalsonly)	Nil

+ 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 5).
• 2 This statement does /does not* (delete one) give a true and fair view of the matters disclosed.

Sign here: ............................................................ Date: 31 July 2012 (Director/Company secretary)

Print name: Bruce Franzen

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.

== == == == ==

+ See chapter 19 for defined terms.