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TAWANA RESOURCES NL - Mining exploration entity quarterly report

Release Date: 31/07/2012 09:17:00      Code(s): TAW       PDF(s):  
Mining exploration entity quarterly report

 Tawana Resources NL
 (Incorporated in Australia)
 (Registration number ACN 085 166 721)
 Share code on the JSE Limited: TAW
 ISIN: AU000000TAW7
 Share code on the Australian Stock Exchange Limited: TAW
 ISIN: AU000000TAW7
 (“Tawana” or “the Company”)

 Appendix 5B

 Mining exploration entity quarterly report
 Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10


 Name of entity
 Tawana Resources NL


 ABN                                                        Quarter ended (“current quarter”)
 69 085 166 721                                             30 June 2012


 Consolidated statement of cash flows
                                                      Current quarter        Year to date
Cash flows related to operating activities            $A’000                 (6 months)
                                                                             $A’000
1.1    Receipts from product sales and related                           -                      -
       debtors

1.2    Payments for (a) exploration &                              (377)                    (608)
       evaluation                                                     -                        -
                      (b) development                                 -                        -
                      (c) production                               (410)                    (727)
                      (d) administration
1.3    Dividends received                                                -                      -
1.4    Interest and other items of a similar nature
       received                                                         27                   63
1.5    Interest and other costs of finance paid                          -                    -
1.6    Income taxes paid                                                 -                    -
1.7    Other (provide details if material)                               -                    -

       Net Operating Cash Flows                                    (760)                (1,272)

       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                         233                     262
1.10   Loans to other entities                                        -                       -
1.11    Loans repaid by other entities                                     -                       -
1.12    Other (provide details if material)                                -                       -

        Net investing cash flows                                        233                     262
1.13    Total operating and investing cash flows
        (carried forward)                                              (527)                  (1,010)

1.13    Total operating and investing cash flows
        (brought forward)                                              (527)                 (1,010)

        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 – share issue costs                                          -                       -
                                                                           -                       -
        Net financing cash flows

        Net increase (decrease) in cash held                           (527)                 (1,010)

1.20    Cash at beginning of quarter/year to date                     3,239                   3,723
1.21    Exchange rate adjustments to item 1.20                           (2)                     (3)
                                                                      2,710                   2,710
1.22    Cash at end of quarter
 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       104

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 and payments made to Wilmoth Field Warne, an entity related to a
         director.

 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

       N/A



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
       N/A



 Financing facilities available
 Add notes as necessary for an understanding of the position.

                                                     Amount available         Amount used
                                                     $A’000                   $A’000
3.1    Loan facilities                                                   -                            -

3.2    Credit standby arrangements                                       -                            -


 Estimated cash outflows for next quarter
                                                                                           $A’000
4.1    Exploration and evaluation                                                             350

4.2    Development                                                                                -

4.3    Production                                                                                 -

4.4    Administration                                                                         300


       Total                                                                                  650

 Reconciliation of cash
 Reconciliation of cash at the end of the quarter     Current quarter         Previous quarter
 (as shown in the consolidated statement of cash      $A’000                  $A’000
 flows) to the related items in the accounts is as
 follows.
 5.1    Cash on hand and at bank                                     2,690                   3,219
                                                                        20                      20
 5.2    Deposits at call
                                                                         -                        -
 5.3    Bank overdraft
                                                                         -                        -
 5.4    Other (provide details)
                                                                     2,710                   3,239
        Total: cash at end of quarter (item 1.22)

 Changes in interests in mining tenements

                                    Tenement    Nature of interest           Interest at   Interest at
                                    reference   (note (2))                   beginning     end of
                                                                             of quarter    quarter
6.1   Interests in mining
      tenements relinquished,
      reduced or lapsed


6.2   Interests in mining
      tenements acquired or
      increased




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   Amount paid up
                                                                 security (see     per security (see
                                                                 note 3) (cents)   note 3) (cents)
7.1    Preference                        -                   -
       +securities
7.2    Changes during                N/A               N/A
       quarter
7.3    +Ordinary              856,629,043       856,629,043
       securities
7.4    Changes during
       quarter
       (a) Increases                     -                   -
        through issues
       (b) Decreases
       through returns
       of capital, buy-
       backs
7.5    +Convertible                      -                   -
       debt securities
7.6    Changes during                N/A               N/A
       quarter
7.7    Options                                                                 Exercise price        Expiry date
       Unlisted                    4,000,000                              -    $0.07                 18 Jun 2012
       options                     6,000,000                              -    $0.10                 17 Jan 2013
       Unlisted                    6,750,000                              -    $0.07                 17 Jan 2013
       options                     6,750,000                              -    $0.10                 17 Jan 2014
       Unlisted                   50,000,000                              -    $0.01                 23 Feb 2013
       options                    20,000,000                              -    $0.01                 31 Jul 2012
       Unlisted                    5,000,000                              -    $0.03                 9 Sep 2012
       options                    50,000,000                              -    $0.01                 30 Jul 2013
       Unlisted                    5,000,000                              -    $0.05                 9 Sep 2014
       options                    25,000,000                              -    $0.01                 8 Mar 2014
       Unlisted                    1,250,000                              -    $0.03                 10 Nov 2013
       options                     1,250,000                              -    $0.05                 10 Nov 2015
       Unlisted
       options
       Unlisted
       options
       Unlisted
       options
       Unlisted
       options
       Unlisted
       options
       Unlisted
       options
7.8    Issued during
       quarter                    28,500,000                              - $0.036                   30 April 2015
7.9    Exercised
       during quarter                           -                         -
7.10   Expired during
       quarter                                  -                         -
7.11   Debentures                               -                         -

7.12   Unsecured                                -                         -
       notes


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
         5).

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

                                [Signed]

Sign here:         ............................................................ Date: 31 July 2012
                   Company secretary



Print name:        Aaron Finlay
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: Statement of Cash Flows apply to this report.

5       Accounting Standards ASX will accept, for example, the use of International Financial
        Reporting 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.

                                           == == == == ==

31 July 2012

Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd

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