STREAMPLAY STUDIO LIMITED — Interim / Quarterly Report 2004

Oct 29, 2003

Appendix 5B

$Rule 5.3$

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

GIPPSLAND LIMTED

ABN	Ouarter ended ("current quarter")
31 004 766 376	30 September 2003

Consolidated statement of cash flows

Cash flows related to operating activities		Current quarter$A'000	Year to date$(3$ months)$A'000
1.1	Receipts from product sales and related debtors
1.2	Payments for
	(a) exploration and evaluation	(132)	(132)
	(b) development
	(c) production
	(d) administrationDividends received	(68)	(68)
1.31.4	Interest and other items of a similar nature
	received	1	1
1.5	Interest and other costs of finance paid
1.6	Income taxes paid
1.7	Other (provide details if material)
	Net Operating Cash Flows	(199)	(199)
	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 (provide details if material)
	Net investing cash flows
1.13	Total operating and investing cash flows
	(carried forward)	(199)	(199)

1.13	Total operating and investing cash flows(brought forward)	(199)	(199)
	Cash flows related to financing activities
1.14	Proceeds from issues of shares – net ofexpenses	550	550
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	550	550
	Net increase (decrease) in cash held	351	351
1.201.21	Cash at beginning of quarter/year to dateExchange rate adjustments to item 1.20	91	91
1.22	Cash at end of quarter	442	442

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	48
1.24	Aggregate amount of loans to the parties included in item 1.10
-1.25	Explanation necessary for an understanding of the transactions

Payment 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

Details of outlays made by other entities to establish or increase their share in projects in which $2.2$ the reporting entity has an interest

None

Financing facilities available

Add notes as necessary for an understanding of the position.

		Amount available$A'000	Amount usedSA'000
-3.1	Loan facilities	w
3.2	Credit standby arrangements	$\overline{a}$

Estimated cash outflows for next quarter

4.1	Exploration and evaluation	150
4.2	Development	MAR
	Total	150

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 quarterSA'000
Cash on hand and at bank5.1		442	91
5.2	Deposits at call
Bank overdraft53Other (provide details)5.4
Total: cash at end of quarter (item 1.22)		442	91

Changes in interests in mining tenements

		Tenementreference	Nature of interest(note (2))	Interest atbeginning ofquarter	Interest atend ofquarter
-6.1	Interests in miningtenements relinquished,reduced or lapsed
6.2	Interests in miningtenements acquired orincreased

Issued and quoted securities at end of current quarterDescription 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)
					(cents)
				note 3) (cents)
7.1	Preference	$\overline{a}$	u,
	*securities
	(description)
7.2	Changes during
	quarter
	(a) Increases
	through issues
	(b) Decreases
	through returns
	of capital, buy-
	backs,
	redemptions
7.3	+ Ordinary
	securities	108,528,359	108,528,359
7.4
	Changes during
	quarter
	(a) Increases	14,000,000	14,000,000
	through issues
	(b) Decreases
	through returns
	of capital, buy-
	backs
7.5	+ Convertible	$\overline{a}$		L,
	debt securities
	(description)
7.6	Changes during
	quarter
	(a) Increases
	through issues
	(b) Decreases
	through
	securities
	matured,
	converted
7.7	Options			Exercise price	Expiry date
	GIPO	40,671,393	40,671,393	9 cents	31/12/07
	GIPAO	250,000		20 cents	15/02/04
	GIPAS	250,000		30 cents	15/02/04
	GIPAI	11,000,000		14 cents	14/07/04
7.8	Issued duringquarter	14,000,000	14,000,000	9 cents	31/12/07
7.9	Exercised duringquarter	ä,	u,	$\omega$	u,
7.10	Expired during	w.		$\overline{a}$	$\blacksquare$
	quarter
7.11	Debentures	$\frac{1}{2}$	μ,
	(totals only)
7.12	Unsecured	$\overline{a}$	u,
	notes (totals
	only)

Compliance statement

• This statement has been prepared under accounting policies which comply with $\left\lceil \begin{array}{c} 1 \ 1 \end{array} \right\rceil$ accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4).
• $\mathfrak{I}$ This statement does give a true and fair view of the matters disclosed.

Gary Steinepreis Company Secretary October 2003

Notes

• $\mathbf{I}$ 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.
• $\overline{2}$ 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.
• The definitions in, and provisions of, AASB 1022: Accounting for Extractive 4 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.

$=$ $=$ $=$ $=$ $=$ $=$ $=$