cash, page-4

From ASX release 21/7/14

Cash 30/6/14 $1,238k
Est outflows for next quarter -$1,200k
+ ex: Archer $290k (to be paid upon consent of the tenement transfer by the SA Government)
+ ex Entitlement issue $899k? (max)

Estimated cash funds 30/9/14: $328k + Entitlement issue subscriptions.

As has been noted:
In the latest quarterly:
Page 6
Antofagasta has withdrawn its interest in the Kangaroo Island Alliance Project and Monax is in the process of transferring EL 5353 back to the Company.
In the Entitlement prospectus:
1.6
Antofagasta Investment Company Limited (Substantial Holder) has notified
the Company that its present intention is not to take up its Entitlement. No
assurance can be given that the Substantial Holder’s intentions won’t change.

May the results of theDrill test the IP/gravity anomaly on the Parndana Project (per the Entitlement prospectus: $450,000) on Kangaroo Island indicate much more than the
sizeable disseminated base metal mineralised system over a strike length of least 400 metres, including several ore grade intersections; reported by Lion Selection Group in their 31January 2003 quarterly report!