SAVANNAH GOLDFIELDS LIMITED — Interim / Quarterly Report 2007

Oct 31, 2007

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

Name of entity

RENISON CONSOLIDATED MINES NL

ACN or ARBN Quarter ended (“current quarter”) 003 049 714 30 September 2007

Consolidated statement of cash flows

Cash flows related to operating activities 1.1 Receipts from product sales and related debtors - Other income 1.2 Payments for (a) exploration and evaluation (b) development (c) production/minesite costs (d) administration (e) goods and services tax 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 Net Operating Cash Flows	Current quarter $A’000	Year to date (3 months) $A’000
	16 (426) - - (726) (254) - 10 (11) - -	16 (426) - - (726) (254) - 10 (11) - -
	(1,391)	(1,391)
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 - First Instalment of Tom’s Gully Sale Proceeds - Payment of Tom’s Gully liabilities Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)	- - (1) - - - - - 8,228 (6,533)	- - (1) - - - - - 8,228 (6,533)
	1,694	1,694
	303	303

• See chapter 19 for defined terms.

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1.13 Total operating and investing cash flows (brought forward)	303	303
Cash flows related to financing activities 1.14 Proceeds from issues of shares and call payments. 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 - Payment of finance lease principal - Securities issue costs Net financing cash flows	- - 2,825 (2,500) - (9) (22)	- - 2,825 (2,500) - (9) (22)
	293	293
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 of quarter	596 139 -	596 139 -
	735	735

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
		124
		-
1.25	Explanation necessary for an understanding of the transactions
	Payments made were for director fees and consultancy fees for executive management and payment of invoices for legal services provided by a firm of which a director is a partner.

Non-cash financing and investing activities

2.1 2.2	Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows
	Nil
	Details of outlays made by other entities to establish or increase their share in projects in which the reporting entityhas an interest
	Nil

• 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.

	3.1 Loan facilities . 3.2 Credit standby arrangements	Amount available $A’000	Amount used $A’000
		16,000	8,667
		-	-

Estimated cash outflows for next quarter

Estimated cash outflows for next quarter
4.1 Exploration and evaluation 4.2 Development	$A’000
	350
	-
Total	350

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 $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 Other (provide details)	735	138
	-	-
	-	-
	-	-
Total: cash at end of quarter(item 1.22)	735	138

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 of quarter	Interest at end of quarter
	See Appendix A for details of tenements sold and relinquished.		100%	0%

• See chapter 19 for defined terms.

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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.

	Number issued	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	nil
7.3 ~~+~~Ordinary securities - fully paid - partly paid 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs (c) Increases through conversions of notes (d) Increases through interest reinvestment plan re 31/3/09 ConvertibleNotesRSNGB	419,477,287 152,500,000	419,477,287 152,500,000	25 cents	6.5 cents
7.5 ~~+~~Convertible debt securities - 31/3/09 Convertible Note - 1/10/07 Convertible Note # 7.6 Changes during quarter (a) Increases through issues - 1/10/07 Convertible Note (b) Decreases through returns of capital, buy-backs, or conversions (c) Increases through interest reinvestment	35,909,090 61,363,637	35,909,090 61,363,637	33 cents 22 cents
	6,550,000	6,550,000	20 cents
7.7 Options (description and conversion factor) Employee Options 7.8 Issued during quarter Employee Options 7.9 Exercised during quarter Employee Options 7.10 Expired during quarter Employee Options	2,625,000		Exercise price 17.5 cents	Expiry date 30/6/08
7.11 Debentures (totals only)	nil
7.12 Unsecured notes(totals only)	nil

- The 1/10/07 Convertible Notes (RSNGC) ceased to be quoted on ASX on 21/9/07 prior to their redemption which was completed in early October. A total of 365,391,093 fully paid ordinary shares were issued upon the redemption.

• See chapter 19 for defined terms.

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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:

JPK Marshall Date: 31/10/07 (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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Appendix A

Northern Territory Tenements

Interests in Tenements sold as part of the sale of Tom’s Gully.

Type	Title No	Location	Interest
EL EL EL EL EL EL EL EL EL EL ELA EL ELA MLA MCN MCN MCN MLN MLN MLN MLN	10367 10368 10382 22206 22232 23172 23173 23174 23178 24150 24151 24288 24682 24828 68 to 83 84 to 91 3333 to 3339 281 to 284 337 to 339 369 to 373 1058	Mary River McKinley River Noonamah Mary River Mary River Noonamah Noonamah Mary River Darwin Noonamah Noonamah Mary River Mary River Mary River Mary River Mary River Mary River Mary River Mary River Mary River MaryRiver	100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%

NSW Tenements

Tenement relinquished

Type	Title No	Location	Interest
EL	6539	Ashford North	50%

• See chapter 19 for defined terms.

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