Silver Mines
LSE : SVLP

April 30, 2012 08:21 ET

3rd Quarter Results, activity report and qly cash flow

                                                       



                                                                   Silver Mines Limited
                                                                   ACN 107 452 942
                                                                   L5, 17-19 Bridge St
                                                                   Sydney, NSW Australia 2000
                                                                   P: +61 2 0253 0900
                                                                   W: www.silverminesltd.com.au
30th April, 2012
To: Company Announcement officer

ACTIVITIES REPORT - FOR THE QUARTER ENDED 31stMARCH 2012.

HIGHLIGHTS DURING THE QUARTER
    
    -    New resource estimate for Webbs Silver project of 1.49Mt @ 245g/t Ag for 11.75Moz of silver (Ag).
        
    -    Measured-Indicated resources upgraded by 400% to 8.37Moz Ag at 269g/t Ag.
    
    -    Excellent potential to increase resource which is open at relatively shallow depth from 80-140m below
         surface.
        
    
    -    Geological and structural interpretations for the resource model being used to optimise drill planning
         to delineate extensions to resource.
        
    
    -    Metallurgical testwork commenced on Webbs and will investigate the potential to produce silver doré
         and base metal concentrates.
        
    
    -    Diamond drill hole results received for holes at Webbs Main. Results confirm and locally upgrade
         previous shallow high grade intersections from reverse circulation (RC) drilling. Intersections include:
        
                DDH026 - 6.45m @ 200g/t Ag, 0.33% Cu, 1.57%Pb and 1.23% Zn from 49.25m;
        

                DDH027 - 5.15m @ 398g/t Ag, 0.66% Cu, 3.19% Pb and 2.1% Zn from 34.1m;
        

                DDH030 - 7.80m @ 464g/t Ag, 0.78% Cu, 2.17% Pb and 1.69% Zn from 29.8m;
        
                        Incl. 2.60m @ 1125g/t Ag, 1.81% Cu, 3.79% Pb and 2.94% Zn from 30.9m
   
   -     An intensive 20,000m drilling program will commence shortly and extend into the December quarter to
         further delineate Webb's excellent resource potential, which is open at relatively shallow depths 
         of 80-140m below surface.

    -    Reconnaissance drilling planned on other projects.

ACTIVITIES DURING THE QUARTER

Webbs Silver Project - EL5674

1.      Resource Estimate

During the quarter Silver Mines released an updated resource estimate for the Webbs project. The new resource
of 1.49Mt @ 245g/t contains Indicated and Measured resources of 969,000 tonnes averaging 269g/t Ag for a
contained resource of 8.37 million ounces. Inferred resources of 3.4 million ounces have also been identified
(see Table 1).

The Measured and Indicated categories have been increased 400% compared with the previous resource estimate.
The significance of the upgrade is clearly shown in the Webbs resources estimates for 2010 and 2012 (see Table
1). The average grade of the resource provides further confirmation that Webbs continues to rank as one of the
highest grade undeveloped silver projects in Australia.

                                         Table 1.
    ----------------------------------------------------------------------------------
    Webbs 2012 Resources - cut-off 70ppm Ag        
    ----------------------------------------------------------------------------------
    Resource          Tonnes          Ag        Cu       Pb       Zn           Ag
     class             (t)          (ppm)      (%)      (%)       (%)         (oz)
    ----------------------------------------------------------------------------------
    Measured         194,000         364       0.29     0.75     1.67       2,269,000
    Indicated        775,000         245       0.26     0.70     1.49       6,102,000
    
    Total M & I      969,000         269       0.27     0.71     1.53       8,371,000
    ----------------------------------------------------------------------------------
    Inferred         522,000         201       0.27     0.71     1.61       3,375,000
    ----------------------------------------------------------------------------------
    TOTAL          1,490,000         245       0.27     0.71     1.56      11,746,000
    ----------------------------------------------------------------------------------
    
    ----------------------------------------------------------------------------------
                     Webbs 2010 Resources - cut-off 70ppm Ag                         
    ----------------------------------------------------------------------------------
    Resource          Tonnes          Ag        Cu       Pb       Zn           Ag
     class             (t)          (ppm)      (%)      (%)       (%)         (oz)
    ----------------------------------------------------------------------------------
    Indicated         167,000        359       0.32     0.55     1.91       1,930,000
    Inferred        1,065,000        239       0.27     0.83     1.83       8,199,000
    ----------------------------------------------------------------------------------
    TOTAL           1,232,000        256       0.28     0.79     1.84      10,129,000
    ----------------------------------------------------------------------------------

Silver Mines considers the upgrade of previous, substantially inferred resources as a very important advance
for the project. The silver grade has essentially been maintained and confidence greatly enhanced in the open
cut potential of the project. The denser drill spacing also provides an improved understanding of geology,
structure and grade distribution. This provides a clearer picture in terms of optimal planning for future
extensional drilling aimed at significantly increasing the Webbs resource.

The Webbs deposit remains open along strike to the south and down plunge at Webbs Main and Webbs South. These
targets are high priority as some of the widest and highest grade intercepts are still open at relatively
shallow depths of approximately 80-140m below surface. Further resource increases are anticipated following
additional deeper extensional drilling. Some near surface potential also remain to be closed off, especially
south of Webbs Main and Webbs South.
Silver Mines has up to 20,000m of additional drilling planned at Webbs which is proposed to be completed before
the end of 2012. Approximately 6500m of cost competitive RC drilling has already been pre-paid.

2.      Diamond Drilling

Silver Mines continued to report excellent diamond drilling intersections during the quarter. These results
were published in ASX announcement dated March 13, 2012. These drillholes constitute infill holes at Webbs
Main. The results have not been incorporated into the recently announced 2012 resource estimate. Results and
holes details are shown in Table 2.

Results

DDH026 and 27

Diamond drill holes (DDH026 and 027) were drilled in opposite directions on the same cross section. These holes
were designed to assist with detailed geological interpretation, confirm previous RC intersections and provide
core for metallurgical testwork. In line with previous RC intersections both diamond holes confirmed the lode
horizon is approximately 3.1m wide with average grades over that width ranging from 200-400g/t Ag (see Figure
1). Copper, lead and zinc grades also show good agreement with surrounding RC holes.

DDH030

Diamond drillhole DDH030 was drilled about 25m south of DDH026 and 027. DDH030 intersected 7.8m @ 464g/t Ag.
This corresponds to a true lode width of about 2.1m. This compares moderately well to the nearby RC holes 092
and 260. However, average grades in these RC holes are 188 and 281g/t Ag respectively are significantly lower
than the high grade zone reported from DDH030. A narrower higher grade zone in DDH030 of 2.55m @ 1125g/t Ag,
1.81% Cu, 3.79% Pb and 2.94% Zn from 30.9m also indicates much higher grades than adjacent RC holes.

Other Holes

DDH's 028 and 031 were abandoned and did not intersect the lode zone, although narrow low grade intersections
were recorded in subsidiary lodes as shown in Table 1. DDH029 was collared so as to just miss the Main lode
horizon. However it did intersect the Western lode which returned an intersection of 0.85m @ 496g/t Ag, 0.75%
Cu, 5.00% Pb and 3.37% Zn

To view Figure 1 - Webbs Main Cross Section 6752545N, please visit the following link:
http://media3.marketwire.com/docs/silv_mine1.pdf 
                                                       
3.      Metallurgical Testwork

Silver Mines has engaged an internationally recognised metallurgical consultancy, Mineralurgy Pty Ltd, to
oversee a metallurgical testwork program for the Webbs Silver Project. Mineralurgy has particular expertise
with complex polymetallic projects in Australia and overseas.

Mineralurgy conducted a review of metallurgical data related to the Webbs project, including testwork conducted
by Silver Mines and previous explorers.

Based upon this review the following potential treatment routes were identified.
        
            1.    Produce separate Pb-Ag, Cu-Ag and Zn-Ag concentrates for sale
            2.    Produce a bulk Ag-Cu-Pb-Zn concentrate for sale
            3.    Produce a bulk concentrate for further processing to extract silver to doré and possibly 
                  produce Zn and Cu concentrates.

Historical testwork from the 1960's-70's and testwork conducted by Silver Mines indicate the production of a
bulk concentrate at a relatively coarse grind, with high metal recoveries (+90%) and a low mass pull to
concentrate is feasible. As a consequence, and due to favourable cyanidation results previously obtained by
Silver Mines the metallurgical testwork now underway will focus on a potential flowsheet aiming to produce
silver doré and concentrates.

The bulk concentrate produced will be subjected to an Albion-alkaline process to establish the level of
oxidation required to liberate sufficient silver for recovery to doré by cyanidation. The opportunity to
produce Zn and possibly Cu concentrates from the Albion residue will also be investigated. Based upon results
Silver Mines may then elect to proceed to a Scoping Level evaluation of this flowsheet to obtain capital and
operating cost estimates. The testwork is being conducted at hrl testing in Brisbane in association with Core
Resources, who are the global agent for the Albion Process

Of all the potential flow sheets considered the Albion process is likely to provide the highest value recovery
of silver and may also provide other advantages for the production of base metal concentrates. The Albion
process has initially been selected due to perceived challenges that have been identified with regard to
producing 'conventional' saleable quality concentrates, whilst maintaining acceptably high recoveries of target
metals and acceptably low levels of penalty metals.

4.      Leadville Project

The  NSW Department of Resources and Energy have formally offered Silver Mines an Exploration Licence over  the
Leadville  Project.  The  Leadville  Project area is located on the  northern  margin  of  the  Lachlan  Orogen
approximately 80km north of Mudgee in central-eastern NSW.

The Leadville project has demonstrated potential to host several deposit styles and commodities. The primary
target model for Silver Mines are skarn type and volcanic hosted sulphide polymetallic deposits rich in silver,
+/- base metals +/-gold. Deposits in the area are hosted by Siluro-Devonian felsic metavolcanics and locally
calcareous metasedimentary rocks which have been intruded by the Gulgong Granite.

Numerous metallic occurrences and deposits are recorded in the area including significant historic workings.
From 1887 to 1893 total recorded production is approximately 17,500t @ recovered grades of around 600g/t Ag and
10% Pb. From 1912-1927 and 1932-1937 approximately 31,000t of pyrite was also produced along with minor amounts
of silver-lead and copper-zinc ore. Mineralisation is likely to be litho-structurally controlled with
identified prospects trending mostly north to northwest and generally occur as steeply dipping pipe like shoots
of massive sulphide and smaller veins. The existence of large low grade deposits cannot be discounted.

Drilling completed by previous explorers in 1990's returned encouraging intersections which warrant follow up.
A detailed review and digital compilation of existing data will guide further exploration at the project.

5.      Upcoming Activities

Silver Mines anticipates a further significant increase of the high grade silver resource at Webbs with its
forthcoming drilling program.

To this end up to 20,000m in over 110 holes of mostly extensional drilling is planned at Webbs. Due to the
number of new holes proposed, Silver Mines was required to modify the current environmental consent plans for
drilling activity. Approval for this modification is expected by the end of May. Once drilling commences
results will be reported as they come to hand.

The metallurgical evaluation of the Webbs project has recently commenced. As significant results come to hand
they will be reported. Final results of the initial Albion testwork are not expected until the second half of
this year.

Silver Mines has reconnaissance exploration drilling planned on several regional targets in the New England
district and at the Boro project in southern NSW. This drilling will target strong geochemical and geophysical
anomalies as well as follow up drilling by previous explorers.

Additional exploration field work such as mapping and geochemistry is also required at several prospects.

Please direct any queries regarding the content of this report to Charles Straw (CEO) on +61 2 9253 0900 or
cstraw@silverminesltd.com.au.

The information in this Document that relates to Exploration Results, Mineral Resources or Ore Reserves is
based on information compiled by Mr David Hobby, consulting geologist to SVL, who is a Member of The
Australasian Institute of Mining and Metallurgy. Mr Hobby has sufficient experience which is relevant to the
style of mineralisation and 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 Hobby consents to the inclusion in the report of
the matters based on his information in the form and context in which it appears.

Table 2. Diamond drilling: Hole details and intersections

-----------------------------------------------------------------------------------------------------------
Hole ID   MGA         MGA       Dip   Azi     Hole     From    To      Int#    Ag      Cu      Pb       Zn
          East        North           MGA     Depth    (m)     (m)     (m)     (g/t)   (%)     (%)      (%)
-----------------------------------------------------------------------------------------------------------
DDH026    6752536    358968     -62   277     71.9    49.25   55.70   6.45     200     0.33    1.57    1.32

incl.                                                 52.65   54.65   2.00     365     0.62    2.40    2.47
-----------------------------------------------------------------------------------------------------------
DDH027    6752555    358935     -70   109     60.1    34.10   39.25   5.15     398     0.66    3.19    2.10

incl.                                                 34.10   35.10   1.00     708     1.26    2.92    1.45
-----------------------------------------------------------------------------------------------------------
DDH028    6752565    358926     -50   273     66.2    41.20   41.65   0.45     25      0.14    0.01    0.16
-----------------------------------------------------------------------------------------------------------
DDH029    6752509    358945     -55   260     54.4    30.50   31.35   0.85     496     0.75    5.00    3.37
-----------------------------------------------------------------------------------------------------------
DDH030    6752527    358930     -79   103     51.6    29.80   37.60   7.80     464     0.78    2.17    1.69

incl.                                                 30.90   33.50   2.60    1125     1.81    3.79    2.94
-----------------------------------------------------------------------------------------------------------
DDH031    6752522    358944     -75   283     48      12.00   15.80   3.80     17      0.03    0.38    0.78
-----------------------------------------------------------------------------------------------------------

# Down-hole intersections are NOT true widths due to the geometry of the lodes and angle of intersection of the
drill hole. True widths are estimated to be approximately 45% of down-hole interval in holes with dips of -55
degrees and approximately 33% of down-hole intervals in holes with dips of -70 degrees.

Sampling and Assaying

HQ diamond core samples are cut lengthways to produce half core. Samples are usually taken at 1m intervals or
as geology dictates.  Silver Mines have opted to utilise the services of ALS-Chemex (Brisbane), a globally
respected company servicing the mining industry. Samples are dispatched by TNT Couriers from Glen Innes to ALS.
Core is crushed to -6mm and a 1kg split is then pulverised to provide the assay pulp. Routine assaying is
conducted by ALS Method ICP41 This is acid digest with an ICP-AES finish analysing for Ag, As, Bi, Cu, Fe, Pb,
S, Sb, Sn, W and Zn. When elements exceed upper detections limits of 100ppm for Ag and 1% for Cu, Pb and Zn
they are reanalysed by and appropriate ore grade acid technique (ALS method OG46). For silver above 1500g/t a
gravimetric technique is used. Certified Standards and blanks are routinely submitted in each assay batch to
monitor QA-QC.

                                                                                        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
------------------------------------------------------------------------------------------------
SILVER MINES LIMITED
------------------------------------------------------------------------------------------------

ABN                                                            Quarter ended ("current quarter")
--------------------                                          ----------------------------------
45 107 452 942                                                 31 March 2012
--------------------                                          ----------------------------------

Consolidated statement of cash flows
                                                       -----------------------------------------
                                                         Current quarter          Year to date 
Cash flows related to operating activities               $A'000                   (9 months)
                                                                                  $A'000
                                                       -----------------------------------------
1.1     Receipts from product sales and related                                   
        debtors
        
1.2     Payments for   (a)  exploration & evaluation     (392)                    (2,218)
                       (b)  development                                           
                       (c)  production                                            
                       (d)  administration               (159)                      (610)
1.3     Dividends received                                                        
1.4     Interest and other items of a similar nature       11                         69
        received
1.5     Interest and other costs of finance paid           (2)                        (4)
1.6     Income taxes paid                                                         
1.7     Other (provide details if material) Pre paid                              
        drilling
                                                       -----------------------------------------
                                                         (542)                    (2,763)    
        Net Operating Cash Flows
------------------------------------------------------------------------------------------------
                                                                                  
        Cash flows related to investing activities
1.8     Payment for purchases of: (a)  prospects                                  
                      (b)  equity investments               -                         -
                      (c)  other fixed assets             (39)                      (39)
                                                                                  
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)                                       
                                                       -----------------------------------------
        Net investing cash flows                          (39)                      (39)
                                                       -----------------------------------------
                                                          
1.13    Total operating and investing cash flows         (581)                   (2,802)
        (carried forward)
------------------------------------------------------------------------------------------------
1.13    Total operating and investing cash flows         (581)                   (2,802)
        (brought  forward)
------------------------------------------------------------------------------------------------

        Cash flows related to financing activities
1.14    Proceeds from issues of shares, options, etc.       -                       304
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 (provide details if material)                                       
                                                       -----------------------------------------
        Net financing cash flows                            -                       304
------------------------------------------------------------------------------------------------

        Net increase (decrease) in cash held             (581)                   (2,498)
        
1.20    Cash at beginning of quarter/year to date       1,454                     3,371
1.21    Exchange rate adjustments to item 1.20                                    
                                                       -----------------------------------------
1.22    Cash at end of quarter                            873                       873

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        21
                                                                                           
1.24     Aggregate amount of loans to the parties included in item 1.10
                   
------------------------------------------------------------------------------------------------

1.25     Explanation necessary for an understanding of the transactions
       -----------------------------------------------------------------------------------------
         Director Fees
         
       -----------------------------------------------------------------------------------------
       
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
       -----------------------------------------------------------------------------------------
          
         -
       
       -----------------------------------------------------------------------------------------



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                                      -
                                                    --------------------------------------------
4.2    Development                                                    
                                                    --------------------------------------------
4.3    Production                                                     
                                                    --------------------------------------------
4.4    Administration                                                  350
------------------------------------------------------------------------------------------------
                                                                      
       Total                                                           350
------------------------------------------------------------------------------------------------

Reconciliation of cash
                                                      -------------------------------------------
Reconciliation of cash at the end of the quarter (as   Current quarter         Previous quarter
shown in the consolidated statement of cash flows) to  $A'000                  $A'000
the related items in the accounts is as follows.
-------------------------------------------------------------------------------------------------
5.1   Cash on hand and at bank                         15                      33
                                                      -------------------------------------------
5.2   Deposits at call                                 858                     1,421
                                                      -------------------------------------------
5.3   Bank Overdraft                                   -                       -
                                                      -------------------------------------------
5.4   Other (provide details)                          -                       -
-------------------------------------------------------------------------------------------------
      Total: cash at end of quarter (item 1.22)        873                     1,454
-------------------------------------------------------------------------------------------------

Changes in interests in mining tenements

                                 --------------------------------------------------------------------
                                  Tenement      Nature of interest             Interest     Interest
                                  reference     (note (2))                     at           at end of
                                                                               beginning    quarter
                                                                               of 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 per
                                                                  security (see       security (see note
                                                                  note 3) (cents)     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          136,106,468         136,105,618                            
        securities                             
        
                          --------------------------------------------------------------------------------
7.4     Changes during                                                                
        quarter
        (a)  Increases
        through issues
        
        
        (b)  Decreases
        through returns
        of capital, buy-
        backs
----------------------------------------------------------------------------------------------------------
7.5     +Convertible                                                                  
        debt securities
        (description)
                          --------------------------------------------------------------------------------
7.6     Changes during                                                                
        quarter
        (a)  Increases
        through issues
        (b)  Decreases
        through
        securities
        matured,
        converted
----------------------------------------------------------------------------------------------------------
7.7     Options                                                   Exercise price      Expiry date
        (description and                                                              
        conversion                                                                    
        factor)            2,000,000           -                  Unlisted Options,   Expiry 27 August
                                                                  exercise price 24   2012.Vest 27
                                                                  cents,              February 2011
                                               -                                      
                           2,000,000                              Unlisted Options,   Expiry 27 August
                                                                  exercise price 40   2013. Vest - 27
                                                                  cents, Expiry 27    August 2011
                                                                  August 2013.        
                                                                  Vest - 27 August    
                                                                  2011                
                                                                                      
                           5,000,000           -                  Unlisted Options,   Expiry  Date  1   May
                                                                  exercise price      2012
                                                                  35 cents,           
                                                                                      
                           8,500,000           -                  Unlisted Employee   Expiry Date 23
                                                                  Options, exercise   December  2015
                                                                  price  50 cents,    
                                                                  Unlisted            
                                                                                      
                                                                  Employee Options,   Expiry Date 6 July
                           3,500,000           -                  exercise price      2012
                                                                  20 cents,           
                                                                                      
                                                                  Performance
                           3,000,000           -                  Rights
                           
                           
                          --------------------------------------------------------------------------------
7.8     Issued during                                                                 
        quarter
                          --------------------------------------------------------------------------------
7.9     Exercised during                                                              
        quarter
                          --------------------------------------------------------------------------------
7.10    Expired during                                                                
        quarter
----------------------------------------------------------------------------------------------------------
7.11    Debentures                                                                    
        (totals only)
------------------------------------------------------------
7.12    Unsecured notes                                                               
        (totals only)
                          ----------------------------------        

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:               .....................................................Date: March 2012.....
                    (Company secretary)

Print name:         ...Kevin Lynn......................................................

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 1022: Accounting for Extractive Industries and AASB
          1026: Statement of Cash Flows 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.


+ See chapter 19 for defined terms.

                                              

Contact Information

  • Silver Mines