Silver Mines
LSE : SVLP

May 05, 2009 06:49 ET

3rd Quarter Results

                                                                                                 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.


Name of entity
   SILVER MINES LIMITED

ABN                                                             Quarter ended ("current quarter")
  45 107 452 942                                                                    March 2009

Consolidated statement of cash flows
                                                            Current quarter            Year to date
Cash flows related to operating activities                       $A'000             (9 mths to Mar 09)
                                                                                          $A'000
1.1     Receipts   from  product  sales  and   related                                       
        debtors                                                    -                        -
        
1.2     Payments for                                                                         
        (a)  exploration and evaluation                          (171)                    (764)
        (b)  development                                            -                        -
        (c)  production                                            -                        -
        (d)  administration                                       (37)                     (274)
1.3     Dividends received                                         -                        -
1.4     Interest  and other items of a similar  nature                                       
        received                                                   9                        41
1.5     Interest and other costs of finance paid                   -                        -
1.6     Income taxes paid                                          -                        -
1.7     Other (Exploration Bonds)                                  -                        -
                                                                 (199)                    (997)
        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                                     -                        -
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                                   -                        -
1.13    Total   operating  and  investing  cash  flows           (199)                    (997)
        (carried forward)

1.13    Total   operating  and  investing  cash  flows           (199)                    (997)
        (brought  forward)
                                                                                             

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 (provide details if material)                        -                      (170)
        Net financing cash flows                                   -                      (170)
                                                                 (199)                   (1,167)
        Net increase (decrease) in cash held
        
1.20    Cash at beginning of quarter/year to date                 524                     1,492
1.21    Exchange rate adjustments to item 1.20                     -                        -
1.22    Cash at end of quarter                                    325                      325

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                  17
                                                                                                                
1.24               Aggregate amount of loans to the parties included in item 1.10                    -
                   
1.25               Explanation necessary for an understanding of the transactions
                   N/A.
                   

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                                                      -
       
4.2    Development                                                                     -
       
                                                                                       -
       Total                                                          

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                                   7                        69

5.2   Deposits at call                                          318                      455

5.3   Bank overdraft                                             -                        -

5.4   Other                                                      -                        -

      Total: cash at end of quarter (item 1.22)                 325                      524

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                N/A                       -                     -            -
      tenements relinquished,
      reduced or lapsed
      
      
6.2   Interests in mining                N/A                       -                     -            -
      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          43,447,500 OFP            43,447,500 OFP              -                    -
        securities         
7.4     Changes during                                                                                
        quarter                                                                                       
        (a)  Increases               -                     -                     -                    -
        through issues                                                                                
        IPO                                                                                           
        Tenements
        Placement
        (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                                      Escrowed        Exercise price          Expiry date
        (description and     17,320,000                     -              20 cents             Nov 2009
        conversion            2,000,000                     -              25 cents             Nov 2009
        factor)                 300,000                     -              20 cents             Nov 2009
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: ..APRIL 2009..........
                    (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.
                 
30/9/2001 

Contact Information

  • Silver Mines