THORNEY TECHNOLOGIES LTD — Interim / Quarterly Report 2011

Jan 30, 2012

Appendix 4C report for entities admitted on the basis of commitments

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Rule 4.7B

Appendix 4C

Quarterly report for entities admitted on the basis of commitments

Name of entity

Australian Renewable Fuels Limited

ABN 66 096 782 188	Quarter ended
66 096 782 188	31 December 2011

Consolidated statement of cash flows

Cash flows related to operating activities 1.1 Receipts from customers 1.2 Payments for: (a) staff costs (b) advertising and marketing (c) research and development (d) other operating costs 1.3 Dividends received 1.4 Interest received 1.5 Interest and other costs of finance paid 1.6 R&D Tax Concession Rebate Received 1.7 Income taxes paid Net operating cash flows	Current quarter $A’000 14,297 (1,386) - - (15,471) - 20 (143) - -	Year to date 6 months $A’000 16,131 (2,085) - - (19,135) - 35 (143) - -
	(2,683)	(5,197)

Appendix 4C Quarterly Report 31 December 2011

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Appendix 4C report for entities admitted on the basis of commitments

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	Current quarter $A’000	Year to date 6 months $A’000
Net operating cash flows (brought forward)	(2,683)	(5,197)
Cash flows related to investing activities 1.8 Payment for acquisition of: (a) businesses (item 5) - Cash balance of Biodiesel Producers Ltd on acquisition (01 Nov 2011) (b) equity investments (c) group expansion (d) intellectual property (e) physical non-current assets 1.9 Proceeds from disposal of: (a) businesses (item 5) (b) equity investments (c) intellectual property (d) physical non-current assets (e) other non-current assets 1.10 Loans to other entities 1.11 Net cash outflow on disposal of subsidiary Net investing cash flows 1.12 Total operating and investing cash flows	(9,181) - - - (1,080) - - - - - - -	(9,181) - - - (2,003) - - - - - - -
	(10,261)	(11,184)
	(12,944)	(16,381)
Cash flows related to financing activities 1.13 Net proceeds from issues of shares, options, etc. 1.14 Reduction in finance lease liabilities 1.15 Proceeds from borrowings – External 1.16 Repayment of borrowings - External 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Loans received Net financing cash flows	4,417 - - - - - -	5,152 (11) - - - - -
	4,417	5,141
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year 1.21 Exchange rate adjustments 1.22 Cash at end of quarter/year	(8,527) 2,565 -	(11,240) 5,278 -
	(5,962)	(5,962)

Appendix 4C Quarterly Report 31 December 2011

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Appendix 4C report for entities admitted on the basis of commitments

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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	405
1.24 Aggregate amount of loans to the parties included in item 1.10	-
1.25 Explanation necessary for an understanding of the transactions	Directors fees, salaries and superannuation

Non-cash financing and investing activities

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	Amount $A'000
Acquisition of Biodiesel Producers Limited as advised to ASX on 4 November 2011. Total consideration is $17.1m which comprises $13.7m in convertible notes and$3.4 in cash(payable 31 December 2012).	17,094
2.2 Details of outlays made by other entities to establish or increase their share in businesses in which the reportingentityhas an interest.
None

Financing facilities available

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

	Amount available $A’000	Amount used $A’000
3.1 Working Capital Loan Facility	10,000	9,199
3.2 Inventory and Receivables financing facility	-	-
3.3 Bank guarantees provided to third parties	560	-
Total financing facilities available at end of **quarter **	10,560	9,199

Appendix 4C Quarterly Report 31 December 2011

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Appendix 4C report for entities admitted on the basis of commitments

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Reconciliation of cash

Reconciliation of cash
Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.	Current quarter $A’000	Previous quarter $A’000
4.1 Cash on hand and at bank	2,612	1,940
4.2 Deposits at call	-	-
4.3 Bank overdraft	(9,199)	-
4.4 Other Bank Facilities Dual authority trust account Bank Guarantee (refer 3.3)	65 560	65 560
Total: cash at end of quarter	(5,962)	2,565

Acquisitions and disposals of business entities

	Acquisitions (Item 1.8(a))	Disposals (Item 1.9(a))
5.1 Name of entity	Biodiesel Producers Ltd	-
5.2 Place of incorporation or registration	Victoria	-
5.3 Consideration for acquisition or disposal	$17.094m	-
5.4 Total net assets	$ 4.704m	-
5.5 Nature of business	Biodiesel production and sales	-

Compliance statement

• 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act (except to the extent that information is not required because of note 2) or other standards acceptable to ASX.

• 2 This statement does give a true and fair view of the matters disclosed.

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Sign here Managing Director

Date: 31 January 2012

Print name: Andrew White

Appendix 4C Quarterly Report 31 December 2011

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Appendix 4C report for entities admitted on the basis of commitments

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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 definitions in, and provisions of, AASB 1026: Statement of Cash Flows apply to this report except for the paragraphs of the Standard set out below.

3. 6.2 - reconciliation of cash flows arising from operating activities to operating profit or loss

4. • 9.2 - itemised disclosure relating to acquisitions • 9.4 - itemised disclosure relating to disposals • 12.1(a) - policy for classification of cash items • 12.3 - disclosure of restrictions on use of cash • 13.1 - comparative information

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.

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Appendix 4C Quarterly Report 31 December 2011