SANDFIRE RESOURCES LIMITED — Interim / Quarterly Report 2013

Apr 29, 2013

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, 17/12/10

	Name of entity	NL Quarter ended (“current quarter”) 31 March 2013	NL Quarter ended (“current quarter”) 31 March 2013
	SANDFIRE RESOURCES	NL
	ABN 55 105 154 185 Consolidated statement of cash flows
		31 March 2013
Cash flows related to operating activities 1.1 Receipts from sale of goods 1.2 Payments for (a) exploration and 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 - Movement in Working Capital Net Operating Cash Flows		Current quarter $A’000	Year to date (9 months) $A’000
		141,135 (5,407) (12,971) (61,543) (1,130) - 922 - - -	370,506 (21,596) (89,236) (148,461) (6,324) - 2,968 - - -
		61,006	107,857
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 (payments for security deposits/bonds) Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)		- - (8,031) - - - - - (2)	- (600) (60,571) - - - - - (71)
		(8,033)	(61,242)
		52,973	46,615

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

1.13 Total operating and investing cash flows (broughtforward)	52,973	46,615
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 1.15 Share issue expenses 1.16 Proceeds from borrowings 1.17 Repayment of borrowings – finance lease payments 1.18 Repayment of borrowings 1.19 Interest and other costs of finance paid 1.20 Other Net financing cash flows	620 (5) - (240) (50,000) (7,691) -	3,661 (92) 30,000 (682) (50,000) (19,438) -
	(57,316)	(36,551)
Net (decrease) increase in cash held 1.21 Cash at beginning of quarter/year to date 1.22 Exchange rate adjustments to item 1.21 1.23 Cash at end of quarter/year	(4,343) 114,796 -	10,064 100,389 -
	110,453	110,453

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

related entities
1.24 Aggregate amount of payments to the parties included in item 1 1.25 Aggregate amount of loans to the parties included in item 1.10	Current quarter $A'000
	391
	-

• 1.26 Explanation necessary for an understanding of the transactions Payment of director and consulting fees to directors and director related entities.

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 None.

• 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

• None

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
	330,000	330,000
	-	-
Note (i) The Company also has access to a $10 million environmental bonding facility (non cash- backed).

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

Estimated cash outflows for next quarter

Estimated cash outflows for next quarter
4.1 Exploration and evaluation 4.2 Development(including payments for purchases of other fixed assets) 4.3 Production 4.4 Administration	$A’000
	6,500
	13,090
	46,420
	1,640
Total	67,650

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 therelateditemsinthe accountsis asfollows.	Current quarter $A’000	Previous quarter $A’000
5.1 Cash on hand and at bank 5.2 Deposits at call 5.3 Bank overdraft 5.4 Term Deposits	110,453	114,796
	-	-
	-	-
	-	-
Total: cash at end ofquarter(item 1.23)	110,453	114,796
Note $70 million of the Company’s cash balance as at 31 March 2013 is held in a debt service and cost overrun account, relating to the Company’s financing facilities.

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
	EPM19715		Qld Exploration Licence Surrendered	100%	-
	L52/151 L52/152 EPM19453 EPM25201 P52/1433 E52/2846 E52/2880 E52/2881 E52/2882 E51/1568		WA Miscellaneous Licence Granted Granted Qld Exploration Permit Minerals Granted Application WA Prospecting License Application WA Exploration Licence Application Application Application Application Application	100% 100% 100% - - - - - - -	100% 100% 100% 100% 100% 100% 100% 100% 100% 100%

• 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 (seenote 3)	Issue price per security (seenote 3)	Amount paid up per security (seenote 3)	Amount paid up per security (seenote 3)
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 contributing shares paid upin full	153,650,968	153,650,968				Fully paid
	66,667 20,000 20,000 20,000	66,667 20,000 20,000 20,000		$4.40 $4.66 $5.44 $6.22		Fully paid Fully paid Fully paid Fully paid
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 7.10 Expired during quarter	210,000 180,000 1,600,000 930,000 33,333 133,333 333,335 1,749,995 1,666,665 1,583,340			Exercise price $0.60 $0.80 $1.00 $4.66; $5.44 and $6.22 $3.80 $4.40 $5.00 $9.00 $10.30 $11.70	Expiry date 12 Jul 2013 12 Jul 2013 12 Jul 2013 27 Nov 2014 15 Jun 2015 15 Jun 2015 15 Jun 2015 28 Feb 2016 28 Feb 2016 28Feb2016
	250,000 250,000 250,000			$9.00 $10.30 $11.70	28 Feb 2016 28 Feb 2016 28Feb2016
	66,667 20,000 20,000 20,000			$4.40 $4.66 $5.44 $6.22	15 Jun 2015 27 Nov 2014 27 Nov 2014 27 Nov 2014
7.11 Debentures (totals only)
7.12 Unsecured notes (totals only)

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

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.

Sign here: Matthew Fitzgerald Date: 30 April 2013

(Company Secretary)

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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