TIVAN LIMITED — Interim / Quarterly Report 2013

Oct 21, 2012

Appendix 5B Mining exploration entity quarterly report

Rule 5.3

Appendix 5B

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10.

Name of entity

TNG LIMITED ACN or ARBN Quarter ended (“current quarter”) 000 817 023 30 September 2012

Consolidated statement of cash flows

Cash flows related to operating activities 1.1 Receipts from customers 1.2 Payments for (a) exploration and evaluation (b) development (c) production (d) administration 1.3 Royalties received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes (paid)/refunded net 1.7 Other Net Operating Cash Flows	Current quarter $A’000	Year to date $A’000
	21 (1,482) – – (616) – 114 – – (330)	21 (1,482) – – (616) – 114 – – (330)
	(2,293)	(2,293)
Cash flows related to investing activities 1.8 Payment for purchases of: (a) tenements (b) equity investments (c) other fixed assets 1.9 Proceeds from sale of: (a) tenements (b) equity investments (c) controlled entity (d) other fixed assets 1.10 Loans to other entities 1.11 Loans repaid by other entities 1.12 Other Net investing cash flows	(200) – (27) – – – – – –	(200) – (27) – – – – – –
	(227)	(227)

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

1.13 Total operating and investing cash flows (brought forward)	1.13 Total operating and investing cash flows (brought forward)	(2,520)	(2,520)	(2,520)
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. (net of expenses) 1.15 Payment for shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other Net financing cash flows		– – – – – –		– – – – – –
		–		–
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end of quarter		(2,520) 10,370		(2,520) 10,370
		7,850		7,850
Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities
1.23 1.24	Aggregate amount of payments to these parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10		Current quarter $A'000
			551
			–
1.25	Explanation necessary for an understanding of the transactions
	1.1 – Receipts from an Administrative shared services agreement are offset against administrative costs (1.2) 1.23 – Payments include director and consulting fees paid to entities associated with Mr Biddle and Mr Turkington along with the remuneration of the Managing Director. 1.7 and 1.23 – Relate to/include a director related consultancytermination of$330,000.

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

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

• See chapter 19 for defined terms.

Appendix 5B Page 2

Appendix 5B Mining exploration entity quarterly report

Financing facilities available

Add notes as necessary for an understanding of the position.

3.1 Loan facilities 3.2 Credit standby arrangements	Amount available $A’000	Amount used $A’000
	–	–
	–	–

Estimated cash outflows for next quarter

4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.3 Administration	$A’000
	900
	–
	–
	500
Total	1,400

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
5.1 Cash on hand and at bank 5.2 Deposits at call 5.3 Bank overdraft 5.4 Other – security deposits	7,700	10,231
	–	–
	–	–
	150	139
Total: cash at end of quarter	7,850	10,370

Changes in interests in mining tenements

6.1 Interests in mining tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements acquired or increased	Tenement reference	Nature of interest (note (2))	Interest at beginning of quarter	Interest at end of quarter
	EL 23074 EL 23271 EL 27787	Cancelled 7/08/12 Cancelled 7/08/12 Reduced from 45blks to 22blks	100% 100% 100%	0% 0% 100%
	EL 29578 EL 29253 EL 29254 EL 27892 EL 29219	Replaced EL23074 EL23271 Granted 30/08/12 Granted 30/08/12 Acquired July 2012 Granted 17/09/12	100% 0% 0% 0% 0%	100% 100% 100% 100% 100%

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

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 7.4 Changes during quarter (a) Increases through issues (b) Increase through exercise of options (c) Decreases through returns of capital, buy-backs	406,861,517	406,861,517
7.5 +Convertible debt securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted
7.7 Options A – Director, Consultant and Employee Options 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	21,100,000	-	Exercise Price $0.15	Expiry Date 15 December 2012
7.11 Debentures (totals only)
7.12 Unsecured notes (totals only)

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

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.

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

==> picture [113 x 66] intentionally omitted <==

Sign here: Managing Director Print name: Paul E Burton

Date: 22 October 2012

• See chapter 19 for defined terms.

Appendix 5B Page 5