STRIKE RESOURCES LIMITED — Interim / Quarterly Report 2004

Feb 11, 2004

January 2004 Monthly Cash Flow Report

Name of entity

FAST SCOUT LIMITED and controlled entities

ACN or ARBN		Month Ended
088 488 724Consolidated statement of cash flows		31 January 2004
		Company		Consolidated
		Current Month	Year to Date	Current Month	Year to Date
		Jan 2004$'000	7 months$' 000	Jan 2004$'000	7 months$'000
	Cash flows related to operating activities
1.1	Receipts from customers		23	5	86
1.2	Payments for
	(a) staff costs	(32)	(185)	(53)	(371)
	(b) advertising and marketing	(2)	(4)	(2)	(4)
	(c) research and development		(50)		(50)
	(d) leased assets
	(e) other working capital	(3)	(156)	(7)	(314)
1.3	Dividends received
1.4	Interest and other items of a similar nature received	5	41	13	87
1.5	Interest and other costs of finance paid
1.6	Income taxes paid
1.7	Other (provide details if material)
	(a) Professional fees		(127)	(4)	(236)
	Net operating cash flows	(32)	(458)	(48)	(802)

Notes:

On 3 October 2003, the Company increased its voting power in ASX Listed Altera Capital Limited ("AEA") from 21.74% to 32.253% as a consequence of the cancellation of 30m shares bought-back by AEA.

AEA has been treated as a controlled entity of the Company pursuant to Accounting Standard 1024 "Consolidated Accounts" for the first time in the Company's October 2003 Monthly Cash Flow Report.

Therefore, the Consolidated columns in this Monthly Cash Flow Report takes into account the cash flows of the Company and its controlled entities, including AEA (as a consolidated entity).

		Company		Consolidated
				Current Month Current Month Current Month	Year to Date
		Jan 2004	7 months	Jan 2004	7 months
		$'000	$'000	$'000	$'000
1.8	Net operating cash flows (carried forward)	(32)	(458)	(48)	(802)
	Cash flows related to investing activities
1.9	Payment for acquisition of:
	businesses (item 5)(a)
	equity investments(b)		(21)	(184)	(2,638)
	(c)intellectual property
	(d)physical non-current assets
	other non-current assets(e)
1.10	Proceeds from disposal of:
	businesses (item 5)(a)
	(b)equity investments
	intellectual property(c)
	(d)physical non-current assets
	other non-current assets(e)
1.11	Loans to other entities
1.12	Loans repaid by other entities
1.13	Other (provide details if material)
	(a) Net cash inflow from acquisition
	of Altera Capital Limited				4,648
	Net investing cash flows		(21)	(184)	2,010
1.14	Total operating and investing cash flows	(32)	(479)	(232)	1,208
	Cash flows related to financing activities
1.15	Proceeds from issues of shares, options, etc.
1.16	Proceeds from sale of forfeited shares
1.17	Proceeds from borrowings
1.18	Repayment of borrowings
1.19	Dividends paid
1.20	Other (provide details if material)
	(a) Payments in relation to share buy back
	Net financing cash flows
			$\blacksquare$
	Net increase (decrease) in cash held	(32)	(479)	(232)	1,208
1.21	Cash at beginning of month/year to date	1,250	1,697	3,137	1,697
1.22	Exchange rate adjustments to item 1.20
$1.23 -$	Cash at end of month	1,218	1,218	2,905	2,905

Fast Scout Ltd (A.B.N. 94 088 488 724) Level 14, The Forrest Centre, 221 St Georges Terrace, Perth, Western Australia 6000 Tel: (08) 9214 9700 Email: info@fastscout.com Fax: (08) 9322 1515

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 Month
		Jan 2004
		$000
1.24	Aggregate amount of payments to the parties included in item 1.2	42
	1.25 Aggregate amount of loans to the parties included in item 1.11

• 1.26 Explanation necessary for an understanding of the transactions
  • (1) $28,091 Salaries, fees and superannuation paid by the Company to its Directors;

(2) $14,404 - Salaries, fees and superannuation paid by Altera Capital Limited (and controlled entities) to their Directors.

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 businesses in which the reporting entity has an interest

None.

Financing facilities available

Add notes as necessary for an understanding of the position. (See AASB 1026 paragraph 12.2).

		Amt available	Amount used
		$$^{\circ}000$	$$^{\circ}$ 000
3.1	Loan facilities	$\sim$
3.2	Credit standby arrangements	$\sim$

Reconciliation of cash		Company		Consolidated
Reconciliation of cash at the end of the month (as shown in		Current	Previous	Current	Previous
the consolidated statement of cash flows) to the related		Month	Month	Month	Month
items in the accounts is as follows		$$^{\circ}000$	$000	$$^{\circ}000$	$000
4.1	Cash on hand and at bank	172	155	465	898
4.2	Deposits at call
4.3	Bank overdraft
4.4	Other (Bank Bills)	1,046	1,095	2,440	2,239
	Total: cash at end of month (item 1.22)	1,218	1,250	2,905	3,137

$\overline{a}$

Acquisitions and disposals of business entities

• $5.1$ Name of entity
• $5.2$ Place of incorporation or registration
• $5.3$ Consideration for acquisition or disposal
• 5.4 Total net assets
• 5.5 Nature of business

Compliance statement

• This statement has been prepared under accounting policies which comply with accounting standards as defined in the 1 Corporations Law (except to the extent that information is not required because of note 2) or other standards acceptable to ASX.
• $\overline{2}$ This statement does give a true and fair view of the matters disclosed.

Victor Ho Company Secretary

The Company also has the following listed share investments:

Company	No Shares	%	Closing Price	Value
Altera Capital Ltd (AEA)	20.002.860	32.3%	suspended
Queste Communications Ltd (QUE)	826.950	2.9%	$0.1950	$161.255
Sofcom Ltd (SOF)	725.900	1.6%	$0.0560	$40.650
Other listed securities				$164,000

Acquisitions	Disposais
(Item $1.9(a)$ )	(Item $1.10(a)$ )
$\overline{\phantom{a}}$
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$\mathbf{m}$	m

J

Date: 12 February 2004

12-Feb-04

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