TIVAN LIMITED — Interim / Quarterly Report 2004

Oct 27, 2004

Appendix 5B

$Rule 5.3$

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98.

Name of entity

TENNANT CREEK GOLD LIMITED

ACN or ARBN

000 817 023

Quarter ended ("current quarter") 30 September 2004

Consolidated statement of cash flows

		Current quarter \$A'000	Year to date
	Cash flows related to operating activities			3 months SA'000
1.1	Receipts from customers
1.2	Payments for (a)	exploration and evaluation	(584)	(584)
	(b)	development
	(c) production
	(d)	administration	(346)	(346)
1.3	Rovalties received		110	110
1.4	Interest and other items of a similar nature received		21	21
1.5	Interest and other costs of finance paid
1.6	Income taxes paid
1.7	Other
	Net Operating Cash Flows		(799)	(799)
1.8	Cash flows related to investing activities
	Payment for purchases of:	(a) prospects (b) controlled entity (net of cash
		aquired)	3	3
		(c) other fixed assets	(20)	(20)
1.9	Proceeds from sale of:	(a) prospects
		(b) equity investments
		(c) other fixed assets
1.10	Loans to other entities
1.11	Loans repaid by other entities
1.12	Other
	Net investing cash flows		(17)	(17)
1.13		Total operating and investing cash flows (carried forward)	(816)	(816)

⁺ See chapter 19 for defined terms.

1.13	Total operating and investing cash flows (brought forward)	(816)	(816)
	Cash flows related to financing activities
1.14	Proceeds from issues of shares, options, etc. (net of expenses)	577	577
1.15	Payment for shares
1.16	Proceeds from borrowings
1.17	Repayment of borrowings	(2)	(2)
1.18	Dividends paid
1.19	Other
	Net financing cash flows	575	575
	Net increase (decrease) in cash held	(241)	(241)
1.20	Cash at beginning of quarter/year to date	1,713	1,713
1.21	Exchange rate adjustments to item 1.20
1.22	Cash at end of quarter	1,472	1,472

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 SA'000
1.23	Aggregate amount of payments to the parties included in item 1.2	116.
1.24	Aggregate amount of loans to the parties included in item 1.10

1.25 Explanation necessary for an understanding of the transactions

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

In July 2004 the Company acquired 100% of the issued shares of Tennant Creek Gold (NT) Pty Ltd which has advanced molybdenum-tungsten & gold development projects and extensive gold, nickel and base metal exploration interests in its 15,000km² Northern Territory tenement portfolio. Consideration was 10,000,000 ordinary shares at \$0.12 per share in Tennant Creek Gold Limited.

$2.2\text{ }$ Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest

Nil

⁺ See chapter 19 for defined terms.

Financing facilities available

Add notes as necessary for an understanding of the position.

		Amount available \$A'000	Amount used \$A'000
3.1	Loan facilities	mm
3.2	Credit standby arrangements	mm

Estimated cash outflows for next quarter

	Total
4.2	Development	STATE
4.1	Exploration and evaluation	350
		SA'000

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
5.1	Cash on hand and at bank	156	201
5.2	Deposits at call	1,246	1,442
5.3	Bank overdraft	$\overline{\phantom{a}}$
5.4	Other - security deposits	70	70
	Total: cash at end of quarter (item 1.22)	1,472	1,713

Changes in interests in mining tenements

		Tenement reference	Nature of interest (note (2))	Interest at beginning of quarter	Interest at end of quarter
6.1	Interests in mining tenements relinquished, reduced or lapsed	ELA24414	Application	0%	0%
6.2	Interests in mining tenements acquired or increased

⁺ See chapter 19 for defined terms.

Issued and quoted securities at end of current quarter
Description includes rate of interest and any redemption or conversion rights together with prices and dates.

		Total number	Number quoted	Issue price per security (see note $3)$ (cents)	Amount paid up per security (see note 3) (cents)
7.1	Preference +securities (description)
7.2	Changes during quarter (a) Increases through issues (b) Decreases through
	returns of capital, buy- backs, redemptions
7.3	+Ordinary securities	69,478,270	69,478,270
7.4	Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs	10,000,000 6,000,000	10,000,000 6,000,000	\$0.12 \$0.10	\$0.12 \$0.10
7.5	+Convertible debt securities (description)
7.6	Changes during quarter (a) increases through issues (b) Decreases through securities matured. converted
7.7	Options Directors, Employees and Consultants Options
7.8	Issued during quarter	8,710,000	$\overline{\phantom{a}}$	Exercise Price \$0.15	Expiry Date 31 May 2007
7.9	Exercised during quarter
7.10	Expired during quarter	4,280,000 180,000		Exercise Price 19c 14c	Expiry Date 30 June 2004 30 June 2004
7.11	Debentures (totals only)
7.12	Unsecured notes (totals only)

⁺ See chapter 19 for defined terms.

Compliance statement

• $\mathbbm{1}$ 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.
• $\overline{2}$ This statement does give a true and fair view of the matters disclosed.

Sign here:

(Company Secretary)

Date: 28 October 2004

Print name:

CHRISTOPHER BATH

⁺ See chapter 19 for defined terms.