STREAMPLAY STUDIO LIMITED — Interim / Quarterly Report 2011

Jan 30, 2012

Rule 5.3

Appendix 5B

Mining exploration entity quarterly report

	Gippsland Limited
ABN		Quarter ended ("current quarter")
	31 004 766 376	31 December 2011
	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	(436)	(1,405)
	(b) development	(224)	(368)
	(c) production	(124)	(124)
	(d) administration	(623)	(1,071)
1.3	Dividends received
1.4	Interest and other items of a similar nature received	29	52
1.5	Interest and other costs of finance paid	-	(1)
1.6	Income taxes paid
1.7	Other (provide details if material)	7	7
	Net Operating Cash Flows	(1,371)	(2,910)
	Cash flows related to investing activities
1.8	Payment for purchases of:(a) prospects
	(b) equity investments
	(c) other fixed assets	(541)	(558)
1.9	Proceeds from sale of:(a) prospects
	(b) equity investments
	(c) other fixed assets
1.10	Loans to other entities	(51)	(67)
1.11	Loans repaid by other entities
1.12	Other (provide details if material)
	Net investing cash flows	(592)	(625)
1.13	Total operating and investing cash flows	(1,963)	(3,535)
	Cash flows related to financing activities
1.14	Proceeds from issues of shares, options, etc.	-	5,064
1.15	Proceeds from sale of forfeited shares
1.16	Proceeds from borrowings	-	400
1.17	Repayment of borrowings	-	(560)
1.18	Dividends paid
1.19	Other (provide details if material)
	Costs of Raising Capital	(27)	(389)
	Net financing cash flows (carried forward)	(27)	4,515

	Net financing cash flows (brought forward)	(27)	4,515
	Net increase (decrease) in cash held	1,990	980
1.20	Cash at beginning of quarter/year to date	3,790	806
1.21	Exchange rate adjustments to item 1.20	(29)	(15)
1.22	Cash at end of quarter	1,771	1,771

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	146
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	-	-
3.2	Credit standby arrangements	-	-

Estimated cash outflows for next quarter

		$A'000
4.1	Exploration and evaluation	475
4.2	Development	290
4.3	Production	520
4.4	Administration	546
	Total	1,831

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
5.1Cash on hand and at bank5.2Deposits at call5.3Bank overdraft5.4Other (provide details)		295	288
		1,476	3,502
		-	-
		-	-
	Total: cash at end of quarter (item 1.22)	1,771	3,790

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
6.2	Interests in miningtenements acquired orincreased

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	Preference +securities(description)
7.2	Changes during quarter(a) Increases throughissues(b) Decreases throughreturns of capital,buy-backs,redemptions
7.3	+Ordinary securities	812,675,131	812,675,131
7.4	Changes during quarter(a) Increases throughissues(b) Decreases throughreturns of capital,buy-backs
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
		17,000,000	-	15 cents	31/05/2012
		600,000	-	4 cents	31/12/12
		600,000	-	6 cents	31/12/13
7.8	Issued during quarter	600,000	-	4 cents	31/12/12
		600,000	-	6 cents	31/12/13
7.9	Exercised during quarter		-
7.10	Expired during quarter	10,000,000	-	8 cents	14/12/2011
		4,000,000	-	6.65 UK pence	15/12/2011
7.11	Debentures (totals only)
7.12	Unsecured notes (totalsonly)

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: IJ Gandel Date: 31 January 2012

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 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.
• 5 Accounting Standards: ASX will accept, for example, the use of International Financial Reporting 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.