STREAMPLAY STUDIO LIMITED — Interim / Quarterly Report 2003

Jan 30, 2003

$Rule 5.3$

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

GIPPSLAND LIMITED

ABN

31 004 766 376

Quarter ended ("current quarter")

31 December 2002

Consolidated statement of cash flows

Cash flows related to operating activities		Current quarter \$A'000	Year to date $\binom{6}{16}$ months) \$A'000
1.1	Receipts from product sales and related debtors	u.
1.2	Payments for
	(a) exploration and evaluation	(105)	(191)
	(b) development	$\ddot{\phantom{a}}$
	(c) production	$\tilde{\phantom{a}}$	ă.
	(d) administration	(82)	(110)
1.3	Dividends received.
1.4	Interest and other items of a similar nature received
		1	4
1.5	Interest and other costs of finance paid	w
1.6	Income taxes paid	u.
1.7	Other (provide details if material)
	Net Operating Cash Flows	(186)	(297)
1.8	Cash flows related to investing activities Payment for purchases of:
	(a)prospects
	(b)equity investments	$\ddot{\phantom{a}}$
	(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)	(186)	(297)

Total operating and investing cash flows (brought forward)	(186)	(297)
Cash flows related to financing activities Proceeds from issues of shares – net of expenses		236
Proceeds from sale of forfeited shares
Proceeds from borrowings
Repayment of borrowings
Dividends paid
Other (provide details if material)
Net financing cash flows	236	236
Net increase (decrease) in cash held	50	(61)
Cash at beginning of quarter/year to date Exchange rate adjustments to item 1.20	160	271
Cash at end of quarter	210	210
		236

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	45
1.24	Aggregate amount of loans to the parties included in item 1.10	$\mathbf{r}$
1.25	Explanation pecessary 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

$2.2$ 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.

		Amount available \$A'000	Amount used \$A'000
3.1	Loan facilities	$\overline{\phantom{a}}$
3.2	Credit standby arrangements

Estimated cash outflows for next quarter

	Total	100
4.2	Development	w
4.1	Exploration and evaluation	\$A'000 100

Reconciliation of cash

Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of eash flows) to the related items in the accounts is as follows.		Current quarter \$A'000	Previous quarter \$A'000
Cash on hand and at bank 5.1		210	160
5.2	Deposits at call
5.3	Bank overdraft
5.4	Other (provide details)
	Total: cash at end of quarter (item 1.22)	210	160

Changes in interests in mining tenements

		Tenement reference	Nature of interest (note (2))	Interest at beginning of quarter	Interest at end of quarter
6.1	Interests in mining tenements relinquished, reduced or lapsed	٠	$\overline{\phantom{0}}$
6.2	Interests in mining tenements acquired or increased		$\overline{\phantom{0}}$

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 (see note 3) (cents)	Amount paid up per security (see note 3) (cents)
7.1	Preference *securities (description)	$\mathbf{r}$
7.2	Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs, redemptions	L.	$\tilde{\phantom{a}}$		$\overline{a}$
7.3	*Ordinary securities	86,109,776	86,109,776
7.4	Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs	7,877,810	7,877,810
7.5	+ Convertible debt securities (description)	$\overline{a}$		L.	L.
7.6	Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted	L.	$\ddot{\phantom{0}}$		$\ddot{}$
7.7	Options			Exercise price	Expiry date
	GIPAO GIPAS GIP-EXEC	250,000 250,000 11,000,000		20 cents $30$ cents 14 cents	15/2/04 15/2/04 14/7/04
7.8	Issued during quarter	L.	$\omega$	L	L.
7.9	Exercised during quarter		u,
7.10	Expired during quarter	u,	u,
7.11	Debentures (totals only)		j.
7.12	Unsecured notes (totals only)	$\mathbf{r}$

Compliance statement

• This statement has been prepared under accounting policies which comply with accounting $\mathbf{1}$ standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4).
• $\overline{2}$ This statement does give a true and fair view of the matters disclosed.

Name:

Gary Steinepreis Company Secretary

30 January 2003

Notes

• $\mathbf{1}$ 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.
• $\overline{2}$ 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.
• $\overline{4}$ The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.
• $\overline{\mathcal{L}}$ 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.

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