WEEBIT NANO LTD — Interim / Quarterly Report 2013

Jul 30, 2013

==> picture [67 x 67] intentionally omitted <==

==> picture [92 x 69] intentionally omitted <==

Quarterly Report

==> picture [333 x 472] intentionally omitted <==

Quarterly Activities Report For the three months ended 30 June 2013

==> picture [163 x 69] intentionally omitted <==

ACN 146 455 576

ASX Release

31 July 2013

Suite 2, 12 Parliament Place West Perth WA 6005 PO BOX 902 West Perth WA 6872

P + 61 8 9482 0580 F + 61 8 9482 0505 E info@radariron.com.au W www.radariron.com.au

Contact

Jonathan Lea Managing Director E jlea@radariron.com.au

Phillip Wingate Company Secretary E pwingate@radariron.com.au

Directors

Alan Tough - Chairman Jonathan Lea - Managing Director Ananda Kathiravelu - Non-Executive

Issued Capital

81,340,070 Ordinary Shares 23,050,000 Unlisted Options

ASX Code

RAD (Fully Paid Ordinary Shares)

Media Enquiries:

Fortbridge +612 9331 0655 Bill Kemmery 0400 122 449

Overview

The Board of Radar Iron Ltd (“Radar”) is pleased to present its quarterly activities report for the quarter ended 30 June 2013.

During the quarter Radar focused on the review of potential acquisitions within the Yilgarn, and in other districts both within Australia and globally. The Board of Radar has decided to minimise cash expenditure on active exploration in the Yilgarn while a decision is made on the timing for the expansion of the Port of Esperance and also owing to present market conditions.

Following due diligence, Radar announced during the Quarter that it was not proceeding with the acquisition of the Mt Ruby magnetite project in Queensland. Drilling results indicated that while high grade magnetite zones were present, the skarn mineralisation had a patchy grade distribution and hence a significant tonnage of direct shipping mineralisation was not present.

The Esperance Port Authority is progressing the selection process for a preferred developer for the expansion of the port with a short list of two consortia. The Port Authority anticipates the expanded multi-user facility will be operational in 2015. Radar is well positioned to develop its Johnston Range hematite deposits in this time frame. Once the developer is appointed and timing for operation clarified then Radar will recommence project development activity.

Recent infrastructure studies suggest that an approximately 10Mtpa upgrade to port capacity can be achieved for a reasonable cost. The rail infrastructure to Esperance while needing some upgrade is also suited for this scale of increase.

==> picture [264 x 226] intentionally omitted <==

Figure 1: Project Location

==> picture [130 x 11] intentionally omitted <==

==> picture [596 x 10] intentionally omitted <==

Quarterly Activities Report

For the Three Months Ended 30 June 2013

Background

Within its Central Yilgarn Project Radar has defined resources of hematite and magnetite.

At Johnston Range multiple hematite targets up to approximately 800m in length (generated through a combination of geological mapping, aero-magnetic and gravity geophysical interpretation) have been identified. Radar has progressively drill tested these zones with the aim of delineating sufficient resources to justify mining by the time the port of Esperance is expanded to enable export.

The prospects lie around the Horse Well Anticline that defines the 40km long belt of banded iron formation on the Johnston Range tenements (Figure 2) and also on adjoining banded iron formation (BIF) ridges in the Evanston project. Johnston Range is comprised of multiple bands of BIF which represent a target of several hundred linear kilometres of BIF with potential for hematite enrichment.

Johnston Range remains Radar’s key focus given the significant potential for hematite mineralisation. Drilling to date has only tested the more obvious targets at Johnston Range and the presence of multiple BIF bands and the variable strike length of the mineralisation means there are a significant number of potential hematite targets yet to be drill tested.

The Muldoon Prospect has been drilled with sufficient density to enables resource estimation – which stands at 2.1Mt at 57.6% Fe – as announced in ASX release dated 8/05/12. Recent mapping and drilling has indicated potential for the resource to be increased.

==> picture [315 x 377] intentionally omitted <==

----- Start of picture text -----

Figure 2: Yilgarn Prospect Location
----- End of picture text -----

==> picture [129 x 11] intentionally omitted <==

==> picture [596 x 10] intentionally omitted <==

Quarterly Activities Report

For the Three Months Ended 30 June 2013

The potential for a major body of magnetite mineralisation at the Die Hardy Range (see Figure 2) was indentified in 2010 through reconnaissance mapping. A substantial RC drilling programme in 2011 resulted in the estimation of a maiden mineral resource estimation by consultant firm CSA Global in October 2011 and resulted in a JORC reportable Indicated and Inferred Mineral Resource at a 20% Fe cut-off grade of 353 million tonnes at 26.1% Fe (215Mt 26.7% Fe Indicated and 138Mt at 25.2% Fe Inferred). Details of the resource estimation procedure and ore body characteristics were provided in Radar’s December Quarterly report to the ASX on January 31, 2012.

Radar is seeking a partner to progress this project, with the next stage of work expected to involve further resource drilling and metallurgical test work. The scoping study completed in 2011 suggested the project had robust economics, and the work to date along with the realistic regional transport options suggest a significant magnetite operation can be successfully established at Die Hardy.

The deposit outcrops as a ridge of magnetite bearing banded iron formation (BIF) over 3km in length. The BIF is partially demagnetised to a depth of 40-50m. Reverse circulation (RC) drilling intersected massive magnetite mineralisation with widths from 100 to 300m to a depth of 350m below surface. Drilling to date has not yet fully defined the extent or the depth of mineralisation.

The mineralisation has been tested for approximately 40% of its strike extent on Radar’s tenements and remains open along strike and at depth. Davis Tube Recovery (DTR) results and metallurgical test work indicates that a concentrate can be produced exceeding 69% Fe with low levels of contaminants at a grind size of 50 micron. This indicates that the mineralisation can be treated and has excellent potential for producing a saleable concentrate.

Project Generation

The Company will continue to review potential acquisitions within the Yilgarn, and in other districts within Australia and globally, with a view to assessing opportunities that can add value to the Company and its shareholders via acquisition or investment.

Given the current market conditions new opportunities are presenting regularly. Radar is committed to diligently assess the more prospective of these to ensure that Shareholders value is maintained and increased.

Corporate

Radar’s cash position at the end of the quarter was $1.1 million.

Given current market conditions, Radar has reviewed its expenditure for the following 12 months and has implemented a number of cost reduction initiatives. As a consequence, a decision has been made to move to smaller premises to reduce overhead and corporate costs. This move will be completed in August 2013 and new office details will be announced once the move is completed. Other initiatives are being considered to further conserve cash.

==> picture [129 x 11] intentionally omitted <==

==> picture [596 x 10] intentionally omitted <==

Quarterly Activities Report

For the Three Months Ended 30 June 2013

Announcements

The Company made the following announcements during the quarter.

Date	Headline
18/06/2013	MtRubyProject Update
11/06/2013	MtRubyProject Update
13/05/2013	MtRubyProject Update
30/04/2013	QuarterlyActivities and Cashflow Report
15/04/2013	MtRubyProject Update

For or on behalf of Radar Iron Ltd

==> picture [39 x 55] intentionally omitted <==

Jonathan Lea

Managing Director

The information in this report accurately reflects information prepared by competent persons (as defined by the Australasian Code for Reporting of Mineral Resources and Ore Reserves). It is compiled by Mr Jonathan Lea, an employee of the Company who is a Member of The Australasian Institute of Mining and Metallurgy with the requisite experience in the field of activity in which he is reporting. Mr Lea has sufficient experience which is relevant to the style of mineralisation and the type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Lea consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The potential quantity and grade of iron deposits reported as exploration potential is conceptual in nature and there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource.

Information in this report that relates to the Mineral Resource estimate for Muldoon reflects information compiled by Mr Alexey Zharnikov a full time employee of CSA Global Pty Ltd, who is a member of the Australian Institute of Geoscientists (AIG). Mr Zharnikov has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is reporting to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.” Mr Zharnikov consents to the inclusion in the report of the matters based on the information compiled by him, in the form and context in which it appears.

The information in this report relating to exploration results, sampling data validity and quality, mineralisation density and general project descriptions used in the Die Hardy Resource Estimate accurately reflects information prepared by competent persons (as defined by the Australasian Code for Reporting of Mineral Resources and Ore Reserves). It was reviewed by Aloysius G.W. Voortman of CSA Global Pty Ltd who is a Fellow and Chartered Professional of The Australasian Institute of Mining and Metallurgy with the requisite experience in the field of activity in which he is reporting. Mr Voortman has sufficient experience which is relevant to the style of mineralisation and the type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Voortman consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Information in this report that relates to the Mineral Resource for Die Hardy estimate reflects information compiled by Mr Aloysius G.W. Voortman of CSA Global Pty Ltd who is a Fellow and Chartered Professional of the AusIMM. Mr Voortman is a Competent Person as defined by the JORC and is a full time employee of CSA Global Pty Ltd as Principal Resource Geologist and

==> picture [129 x 11] intentionally omitted <==

==> picture [596 x 10] intentionally omitted <==

Quarterly Activities Report For the Three Months Ended 30 June 2013

Geostatistician. He has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is reporting to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.” Mr Voortman consents to the inclusion in the report of the matters based on the information compiled by him, in the form and context in which it appears.

==> picture [129 x 11] intentionally omitted <==

==> picture [596 x 10] intentionally omitted <==

Appendix 5B Mining exploration entity quarterly report

Appendix 5B

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

Radar Iron Limited

ABN Quarter ended (“current quarter”) 15 146 455 576 30 June 2013

Consolidated statement of cash flows

Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration and evaluation (b) development (c) production (d) administration 1.3 Dividends 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 1.7 Other – Research & development tax offset Net Operating Cash Flows	Current quarter $A’000	Year to date (12 months) $A’000
	- (81) - - (191) - 11 - - 203	- (2,130) - - (928) - 83 - - 483
	(58)	(2,492)
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 1.11 Loans repaid by other entities 1.12 Other (provide details if material) – Project Due Diligence Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)	- - - - - - - - (125)	(20) - (59) - - - - - (272)
	(125)	(351)
	(183)	(2,843)

Appendix 5B Mining exploration entity quarterly report

1.13 Total operating and investing cash flows (brought forward)	(183)	(2,843)
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other - Capital Raising Costs	- - - - - -	- - - - - -
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	(183) 1,244 -	(2,843) 3,904 -
	1,061	1,061

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 the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10	Current quarter $A'000
		72
		Nil
1.25	Explanation necessaryfor an understandingof the transactions
	Amounts paid to directors includes salaries and wages for director services.

Non-cash financing and investing activities

2.1

• 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

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
	-	-
	-	-

Appendix 5B Mining exploration entity quarterly report

Estimated cash outflows for next quarter

Estimated cash outflows for next quarter
4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration	$A’000
	150
	-
	-
	130
Total	280

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 (provide details)	174	15
	887	1,229
	-	-
	-	-
Total: cash at end of quarter(item 1.22)	1,061	1,244

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

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) Decreases through returns of capital, buy-backs	81,340,070	81,340,070
7.5 +Convertible debt securities(description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted
7.7 Options (description and conversion factor) Total 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	20,375,000 2,375,000 300,000 23,050,000	- - -	Exercise price 25 cents 30 cents 45 cents	Exercise date 30/11/13 31/05/14 31/07/14
	-	-
	-	-
7.11 Debentures (totals only)
7.12 Unsecured notes (totals only)

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 (see note 4).

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

Sign here: (Director/ Company secretary )

Date: 31 July 2013

Print name: Phillip Wingate

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 “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 .

4 The definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Cash Flow Statements apply to this report.

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.