SAVANNAH GOLDFIELDS LIMITED — Interim / Quarterly Report 2012

Apr 30, 2012

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 31 March 2012

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 costs (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 Net Operating Cash Flows	Current quarter $A’000	Year to date (9 months) $A’000
	17 (228) - - (466) - - (2) - -	50 (598) - - (736) - - (25) - -
	(679)	(1,309)
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 - Security bond deposits Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)	- - - - - - - - 19	- - - - - - - - 19
	19	19
	(660)	(1,290)

• See chapter 19 for defined terms.

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1.13 Total operating and investing cash flows (brought forward)	(660)	(1,290)
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	- - 690 - - (4) -	- - 1,305 - - (10) -
	686	1,295
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	27 (13) -	5 9 -
	14	14

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
		1
		-
1.25	Explanation necessaryforanunderstanding ofthe transactions
	Payments made were for director fees and consultancy fees for executive management.

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 entity has an interest
	Nil

• See chapter 19 for defined terms.

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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
		17,500	15,725
		-	-

The company has an existing loan facility of $17.5 million provided by a director related entity.

Estimated cash outflows for next quarter

4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.2 Administration	$A’000
	150
	-
	-
	200
Total	350

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 $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)	14	(13)
	-	-
	-	-
	-	-
Total: cash at end of quarter(item 1.22)	14	(13)

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
	EP 53464 EP 53469 EPM 19368 EPM 17632 EPM 17949	Klondyke (New Zealand) Waitekauri (New Zealand) Rockland (Qld) Robinhood (Qld) Oaky Creek(Qld)	nil nil nil nil nil	100% 100% 100% 100% 100%

• 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) Issue to acquire tenement	3,013,851,431 152,500,000	3,013,851,431 -	25 cents	8.6 cents
	10,000,000	10,000,000	0.1 cents
7.5 ~~+~~Convertible debt securities - 31/3/12 Convertible Notes ^ 7.6 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs, or conversions (c) Increases through interest reinvestment	44,909,090	44,909,090	33 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			Exercise price	Expiry date
7.11 Debentures (totals only)	nil
7.12 Unsecured notes(totals only)	nil

- all of the 152,500,000 partly paid shares have been forfeited and are held by the Directors in accordance with the Corporations Law.

^ - all of the 31/3/12 Convertible Notes matured on 31 March and were redeemed by the Company in accordance with the terms and conditions of the notes. Following the end of the quarter the company issued a total of 17,541,580,875 shares to pay the half yearly interest and to redeem the Notes. Following this the Company now has 20,555,432,306 shares on issue.

• 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: 30/04/12 (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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