Sheffield Resources Ltd. — Interim / Quarterly Report 2012

Oct 17, 2012

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.

Name of entity

Sheffield Resources Limited

29 125 811 083 30 September 2012

ABN Quarter ended ("current quarter")

Consolidated statement of cash flows

		Current quarter	Year to date
Cash flows related to operating activities		$A'000	(3 months)
			$A'000
1.1	Receipts from product sales and related debtors	-	-
1.2	Payments for(a) exploration & evaluation	-	-
	(b) development	-	-
	(c) production	-	-
	(d) administration	(244)	(244)
1.3	Dividends received	-	-
1.4	Interest and other items of a similar nature	70	70
	received
1.5	Interest and other costs of finance paid	(1)	(1)
1.6	Income taxes paid	-	-
1.7	Other (GST paid to be recouped)	39	39
	Net Operating Cash Flows	(136)	(136)
	Cash flows related to investing activities
1.8	Payment for purchases of:(a) prospects	-	-
	(b) exploration & evaluation	(2,038)	(2,038)
	(c) other fixed assets	(12)	(12)
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	-	-
	Net investing cash flows	(2,050)	(2,050)
1.13	Total operating and investing cash flows
	(carried forward)	(2,186)	(2,186)

+ See chapter 19 for defined terms.

1.13	Total operating and investing cash flows
	(brought forward)	(2,186)	(2,186)
	Cash flows related to financing activities
1.14	Proceeds from issues of shares, options, etc.	211	211
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 – capital raising costs	(5)	(5)
	Net financing cash flows	206	206
	Net increase (decrease) in cash held	(1,980)	(1,980)
1.20	Cash at beginning of quarter/year to date	9,298	9,298
1.21	Exchange rate adjustments to item 1.20	-	-
1.22	Cash at end of quarter
		7,318	7,318

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	134
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

All transactions involving Directors and associates were on normal commercial terms.

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

Nil

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

Nil

+ 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	1,750
4.2	Development	-
4.3	Production	-
4.4	Administration	230
	Total	1,980

Reconciliation of cash

Reconciliation of cash at the end of the quarter (asshown in the consolidated statement of cash flows) tothe related items in the accounts is as follows.	Current quarter$A'000	Previous quarter$A'000
5.1Cash on hand and at bank	1,626	713
5.2Deposits at call	5,692	8,585
5.3Bank overdraft	-	-
5.4Other	-	-
Total: cash at end of quarter	7,318	9,298

Changes in interests in mining tenements

		Tenement	Nature of interest	Interest at	Interest at
		reference	(note (2))	beginning of	end of
				quarter	quarter
6.1	Interests in miningtenements relinquished,reduced or lapsed	E80/4394	Relinquished	100%	Nil
6.2	Interests in mining	E69/3033	Granted	Nil	100%
	tenements acquired or	E04/2159	Granted	Nil	100%
	increased	E70/4378	Granted	Nil	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	Number quoted	Issue price per	Amount paid up per
				security (see	security (see note 3)
				note 3) (cents)	(cents)
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	95,941,669	81,316,669	N/A	N/A
7.4	Changes during
	quarter
	(a) Increases through	1,052,500	1,052,500	0.20	0.20
	issues
	(b) Decreasesthrough returns of
	capital, buy-backs
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	23,258,332	-	0.20	30/06/2013
	and conversion	3,000,000	-	0.30	30/11/2013
	factor)	1,550,000	-	0.30	13/12/2015
		550,000	-	0.44	20/03/2016
		525,000	-	0.44	30/06/2016
		250,000	-	0.44	06/09/2014
		1,200,000500,000	--	0.650.53	01/04/201729/07/2017
7.8		500,000	-	0.53	29/07/2017
	Issued during quarter
7.9		1,052,500	-	0.20	30/06/2013
	Exercised during
	quarter
7.10	Expired during
	quarter
7.11	Debentures(totals only)
7.12	Unsecured notes
	(totals only)

+ 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 4).
• 2 This statement does give a true and fair view of the matters disclosed.

Sign here: ............................................... Date: 18 October 2012

Print name: Will Burbury

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.