STREAMPLAY STUDIO LIMITED — Interim / Quarterly Report 2009

Jan 29, 2009

Appendix 5B

Mining exploration entity quarterly report

	Gippsland Limited
ABN		Quarter ended ("current quarter")
31 004 766 376		31 December 2008
	Consolidated statement of cash flows
	Cash flows related to operating activities	Current quarter$A'000	Year to date (6.months)$A'000
1.1	Receipts from product sales and related debtors
1.2	Payments for(a) exploration and evaluation	(251)	(251)
	(b) development	(366)	(669)
	(c) production
	(d) administration	(680)	(1,563)
1.3	Dividends received
1.4	Interest and other items of a similar nature received	5	12
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	(1,292)	(2,471)
	Cash flows related to investing activities
1.81.9	Payment for purchases of:(a)prospects(b)equity investments(c)other fixed assetsProceeds from sale of:(a)prospects(b)equity investments		(1)
1.10	(c)other fixed assetsLoans to other entities
1.11	Loans repaid by other entities
1.12	Other (provide details if material)
	Net investing cash flows	-	(1)
1.13	Total operating and investing cash flows	(1,292)	(2,472)
	Cash flows related to financing activities
1.14	Proceeds from issues of shares, options, etc.	968	968
1.15	Proceeds from sale of forfeited shares
1.16	Proceeds from borrowings *	300	300
1.17	Repayment of borrowings
1.18	Dividends paid
1.19	Other (provide details if material)
	Costs of Issue	(23)	-
	Net financing cash flows (carried forward)	1,245	1,268

	Net financing cash flows (brought forward)	1,245	1,268
	Net increase (decrease) in cash held	(47)	(1,204)
1.20	Cash at beginning of quarter/year to date	443	1,593
1.21	Exchange rate adjustments to item 1.20	13	20
1.22	Cash at end of quarter	409	409

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 quarterA$000
1.23	Aggregate amount of payments to the parties included in item 1.2	140
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

Payments of consulting fees and directors fees 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

		Amount available$A'000	Amount used$A'000
3.1	Loan facilities *	300	300
3.2	Credit standby arrangements	-	-

Estimated cash outflows for next quarter

		$A'000
4.1	Exploration and evaluation	0
4.2	Development	340
	Total	340

Reconciliation of cash

Reconciliation of cash at the end of the quarter (as shown in theconsolidated statement of cash flows) to the related items in theaccounts is as follows.		Current quarter$A'000	Previous quarter$A'000
5.1	Cash on hand and at bank	409	388
5.2	Deposits at call	-	55
5.3	Bank overdraft
5.4	Other (provide details)
Total: cash at end of quarter (item 1.22)		409	443

Changes in interests in mining tenements

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

Issued and quoted securities at end of current quarter

		Total number	Number quoted	Issue price persecurity (see note3) (cents)	Amount paid up persecurity (see note 3)(cents)
7.1	+securitiesPreference(description)
7.2	Changes during quarter
	(a) Increases throughissues
	(b) Decreases throughreturns of capital, buybacks, redemptions
7.3	+Ordinary securities	323,434,325	323,434,325
7.4	Changes during quarter(a) Increases throughissues(b) Decreases throughreturns of capital, buybacks	(a) 17,080,000	(a) 17,080,000
7.5	+Convertible debtsecurities (description)
7.6	Changes during quarter (a) Increases throughissues(b) Decreases throughsecurities matured,converted
7.7	Options			Exercise price	Expiry date
		25,000,000	-	13.5 cents	26/05/2012
		4,000,000	-	7 UK pence	15/12/2011
		17,000,000	-	15 cents	31/05/2012
7.8	Issued during quarter	17,000,000	-	15 cents	31/05/2012
7.9	Exercised during quarter
7.10	Expired during quarter
7.11	Debentures (totals only)
7.12	Unsecured notes (totalsonly)

* Directors of the Company have provided loans to the sum of $300,000 during the quarter. These loans are unsecured and interest free, are in full compliance with the Corporations Act 2001 and ASX Limited Listing Rules and are repayable by the company upon the future raising of sufficient capital.

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.

Director, RJ Telford Date: 30 January 2009

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.