STREAMPLAY STUDIO LIMITED — Interim / Quarterly Report 2005

Oct 28, 2004

Appendix 5B

$Rule 5.3$

٦

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 2004

Consolidated statement of cash flows

Cash flows related to operating activities		Current quarterSA'000	Year to date(3 months)$A'000
$\mathbf{L}$	Receipts from product sales and related debtors
1.2	Payments for(a) exploration and evaluation	(538)	(538)
	(b) development(c) production
1.3	(d) administrationDividends received	(146)	(146)
$\vert A$	Interest and other items of a similar nature
1.5	receivedInterest and other costs of finance paid	5	5
1.61.7	Income taxes paidOther (provide details if material)
	Net Operating Cash Flows	(679)	(679)
	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 - Egyptian Mining
1.11	Company for Mineral ResourcesLoans 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)	(679)	(679)

1.13	Total operating and investing cash flows(brought forward)	(679)	(679)
1.141.15	Cash flows related to financing activitiesProceeds from issues of sharesProceeds from sale of forfeited shares
1.161.171.181.19	Proceeds from borrowingsRepayment of borrowingsDividends paidPayments relating to capital raisings
	Net financing cash flows
	Net increase (decrease) in cash held	(679)	(679)
1.201.21	Cash at beginning of quarter/year to dateExchange rate adjustments to item 1.20	1.050(36)	1,050(36)
1.22	Cash at end of quarter	335	335

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
Aggregate amount of payments to the parties included in item 1.21.23	72
Aggregate amount of loans to the parties included in item 1.101.24

1.25 Explanation necessary for an understanding of the transactions

Payments 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 usedSA'000
-3. I	Loan facilities
3.2	Credit standby arrangements

Estimated cash outflows for next quarter

	Total	200
4.2	Development	-
4.1	Exploration and evaluation	200
		$A'000

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 quarterSA'000	Previous quarterSA'000
5.1	Cash on hand and at bank	8	59.
5.2	Deposits at call	327	-991
5.3	Bank overdraft
5.4	Other (provide details)
	Total: cash at end of quarter (item 1.22)	335	1.050

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	$\overline{\phantom{a}}$
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(seenote 3) (cents)	security (see note 3)(cents)
7.1	Preference	$\mathcal{L}$	$\equiv$
	+ securities
	(description)
7.2	Changes during
	quarter
	(a) Increases
	through issues(b) Decreases
	through returns
	of capital, buy-
	backs,
	redemptions
7.3	+Ordinary
	securities	139,528,359	139,528,359
7.4	Changes during
	quarter
	(a) Increasesthrough issues
	(b) Decreases
	through returns
	of capital, buy-
	backs
7.5	+Convertible	$\bar{a}$	$\overline{a}$	÷,	÷,
	debt securities
	(description)
7.6	Changes during	$\overline{\phantom{a}}$	$\overline{\phantom{0}}$	u,	u.
	quarter(a) Increases
	through issues
	(b) Decreases
	through
	securities
	matured.
7.7	converted			Exercise price
	OptionsGIPO	43,771,393	43,771,393	9 cents	Expiry date31/12/07
	GIPAI	2,790,567		2.8 UK pence	08/03/07
7.8	Issued during	$\bar{a}$	$\overline{\phantom{a}}$	$\overline{\phantom{a}}$	$\overline{\phantom{a}}$
	quarter
7.9	Exercised during	$\equiv$	$\blacksquare$	$\bar{\phantom{a}}$	$\equiv$
	quarter
7.10	Expired/
	Cancelledduring quarter
7.11	Debentures	$\overline{a}$	$\overline{a}$
	(totals only)
7.12	Unsecured	$\overline{a}$	$\overline{\phantom{a}}$
	notes (totals
	only)

Compliance statement

• $\mathbf{I}$ 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 $4$ ).
• $\overline{2}$ This statement does give a true and fair view of the matters disclosed.

Julie Wolseley Company Secretary 27 October 2004

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 Industries and $\overline{4}$ AASB 1026: Statement of Cash Flows apply to this report.
• $\mathfrak{S}$ 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.

not any material company and material