SANDFIRE RESOURCES LIMITED — Interim / Quarterly Report 2007

Jul 30, 2007

MINING EXPLORATION ENTITY QUARTERLY REPORT

APPENDIX 5B

Name of entity:

Sandfire Resources NL ABN: Quarter ended (“current quarter”) 55 105 154 185 30/6/2007 Consolidated statement of cash flows Cash flows related to operating activities Current quarter $AUD’000 Year to date (12 months) $AUD’000 1.1 Receipts from product sales and related debtors 1.2 Payments for: (a) exploration and evaluation (b) development (c) production (d) administration (1,021) (46) (3,394) (336) 1.3 Dividends received 1.4 Interest and other items of a similar nature received 106 388 1.5 Interest and other costs of finance paid 1.6 GST Refund/GST Paid 195 132 1.7 Other (provide details if material) Net Operating Cash Flows (766) (3,210)	Sandfire Resources NL ABN: Quarter ended (“current quarter”) 55 105 154 185 30/6/2007 Consolidated statement of cash flows Cash flows related to operating activities Current quarter $AUD’000 Year to date (12 months) $AUD’000 1.1 Receipts from product sales and related debtors 1.2 Payments for: (a) exploration and evaluation (b) development (c) production (d) administration (1,021) (46) (3,394) (336) 1.3 Dividends received 1.4 Interest and other items of a similar nature received 106 388 1.5 Interest and other costs of finance paid 1.6 GST Refund/GST Paid 195 132 1.7 Other (provide details if material) Net Operating Cash Flows (766) (3,210)	Sandfire Resources NL ABN: Quarter ended (“current quarter”) 55 105 154 185 30/6/2007 Consolidated statement of cash flows Cash flows related to operating activities Current quarter $AUD’000 Year to date (12 months) $AUD’000 1.1 Receipts from product sales and related debtors 1.2 Payments for: (a) exploration and evaluation (b) development (c) production (d) administration (1,021) (46) (3,394) (336) 1.3 Dividends received 1.4 Interest and other items of a similar nature received 106 388 1.5 Interest and other costs of finance paid 1.6 GST Refund/GST Paid 195 132 1.7 Other (provide details if material) Net Operating Cash Flows (766) (3,210)	Sandfire Resources NL ABN: Quarter ended (“current quarter”) 55 105 154 185 30/6/2007 Consolidated statement of cash flows Cash flows related to operating activities Current quarter $AUD’000 Year to date (12 months) $AUD’000 1.1 Receipts from product sales and related debtors 1.2 Payments for: (a) exploration and evaluation (b) development (c) production (d) administration (1,021) (46) (3,394) (336) 1.3 Dividends received 1.4 Interest and other items of a similar nature received 106 388 1.5 Interest and other costs of finance paid 1.6 GST Refund/GST Paid 195 132 1.7 Other (provide details if material) Net Operating Cash Flows (766) (3,210)
		30/6/2007
	Current quarter $AUD’000		Year to date (12 months) $AUD’000
	(1,021) (46) 106 195		(3,394) (336) 388 132
	(766)		(3,210)
Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects (b) equity investments, deposits (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 Capital Raising Costs Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)	(5) 11		(6) (165) 11 (291)
	6		(451)
	(760)		(3,661)

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1.13 Total operating and investing cash flows
(760) (3,661)
(brought forward)
Cash flows related to financing activities
1.14 Proceeds from issues of shares, options, 4,850
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 4,850
Net increase (decrease) in cash held (760) 1,189
1.20 Cash at beginning of quarter/year to date 6,557 4,608
1.21 Exchange rate adjustments to item 1.20
1.22 Cash at end of quarter 5,797 5,797
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
$AUD'000
1.23 Aggregate amount of payments to the parties included in item 1.2 (141)
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
N/A
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
N/A
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
N/A
Financing facilities available
Amount available Amount used
$AUD’000 $AUD’000
3.1 Loan facilities Nil Nil
3.2 Credit standby arrangements Nil Nil
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Estimated cash outflows for next quarter

Estimated cash outflows for next quarter
4.1 Exploration and evaluation 4.2 Development	$AUD’000
	(1800)
	-
Total	(1800)

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 $AUD’000	Previous quarter $AUD’000
5.1 Cash on hand and at bank 5.2 Deposits at call 5.3 Bank overdraft 5.4 Other (provide details) – Short Term Deposit	178	42
	319	6,515
	5,300
Total: cash at end of quarter(item 1.22)	5,797	6,557

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	Interest at beginning ofquarter	Interest at end of quarter
		None
		None

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Issued and quoted securities at end of current quarter

	Total number	Number quoted	Issue price per security (cents)	Amount paid up per security (cents)
7.1 Preference securities 7.2 Issued during quarter	N/A
	Nil
7.3 Ordinary securities 7.4 Issued during quarter (a) Increases through conversions (b) Increases through new issues	65,059,626 10,672,652	65,059,626 10,672,652		Fully paid Partly paid to 0.0001 cents
	Nil Nil
7.5 Convertible debt securities 7.6 Issued during quarter	N/A
	Nil
7.7 Options Non-employee Options 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	525,000 2,392,000 3,000,000	Not Quoted Not Quoted Not Quoted	Exercise price $0.20 $0.25 $0.50	Expiry date 30.9.2008 31.12.2008 30.9.2011
	Nil
	Nil
	6,900,000	Not Quoted	$0.60	30.6.2007
7.11 Debentures	N/A
7.12 Unsecured notes	N/A

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.

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

Greg Steemson Managing Director Date: 31 July 2007

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