Tagesbericht: Gold, Analyse: Spinifex (Australien) - 500 Beiträge pro Seite

[Goldhotline]

Tagesbericht

Gold bei 277 $/oz (±0), Goldaktien schwächer, Analyse: Spinifex (Australien)

Ein Anstieg des Goldpreises auf über 278 $/oz wurde im gestrigen New Yorker Handel
abgefangen. Innerhalb von wenigen Minuten wurde der Preis wieder auf das Ausgangsniveau von
277 $/oz gedrückt. Heute morgen zeigt sich der Goldpreis in Sydney und Hongkong unverändert
in einer engen Handelsspanne um die Marke von 277 $/oz. Die Goldaktien notieren schwächer
und geben den größten Teil der Vortagesgewinne wieder ab.

Der nordamerikanische xau-Goldminenindex fiel um 2,9 % oder 1,6 auf 52,9 Punkte zurück. Bei
den Standardwerten gaben Barrick 4,3 % (Vortag +3,3 %) und Placer Dome 3,4 % (Vortag +8,0
%) ab. Bei den kleineren Werten fielen TVX 3,2 % und Battle Mountain 3,1 % zurück.

Die in New York gehandelten südafrikanischen Werte standen ebenfalls unter Druck. Harmony
büßten 6,6 % (Vortag +5,2 %) und Durban Roodepoort Deep 2,6 % (Vortag +8,6 %) ein.

Der australische Goldminenindex konnte sich mit einem Verlust von 0,9 % oder 6,9 auf 746,1
Punkte etwas besser behaupten. Bei den Standardwerten stieg Goldfields um 4,2 %. Bei
Goldfields halten sich Übernahmegerüchte durch die südafrikanische Harmony. Normandy NFM
zog um 3,7 % an. Bei Normandy NFM wird längerfristig mit einem Übernahmeangebot durch
Normandy Mining gerechnet. Sons of Gwalia fielen um 3,3 % und Lihir um 2,8 % zurück. Bei den
kleineren Werten verbesserte sich Otter Gold um 3,4 %. Bei den Explorationswerten stiegen
Metex um 12,2 % und Tribune um 5,3 %. Climax fiel um 13,6 % zurück.


Die aktuellen Topempfehlungen der Goldaktien (maximale Kauflimite in Klammern):

Nach den Kursrückgängen wurden Lihir und Spinifex zu Kaufempfehlungen.

Australien:
Sicherheitsorientiert:
Delta Gold 1,40 A$ (2,40 A$, aktuelle Dividendenrendite 7,1 %), Normandy Mining 1,01 A$ (1,20
A$, aktuelle Dividendenrendite 5,9 %), Pacmin 1,44 A$ (1,60 A$), Lihir 0,70 A$ (0,70 A$),
Newcrest 4,24 A$ (4,00 A$, jetzt eine Halteposition), Sons of Gwalia 5,50 A$ (4,80 A$, jetzt eine
Halteposition)

Spekulativ:
New Hampton 0,25 A$ (0,26 A$), Hill 50 1,06 A$ (1,10 A$), Spinifex 0,15 A$ (0,15 A$), Tribune
Resources 0,40 A$ (0,25 A$, jetzt eine Halteposition), Aquarius Platinum 5,25 A$ (2,80 A$, jetzt
eine Halteposition).

Südafrika:
Sicherheitsorientiert:
Harmony 5,98 Euro (6,50 Euro), Gold Fields 4,10 Euro (4,50 Euro), Anglogold (ADR zu 1/2Aktie;
GB) 22,60 Euro (28,00 Euro)

Spekulativ:
Durban Roodepoort Deep 1,30 Euro (1,80 Euro)

Nordamerika:
Sicherheitsorientiert:
Placer Dome 9,00 $ (12,00 $), Kinross 0,6875 $ (1,25 $), Freeport 9,0625 $ (16,00 $), Homestake
5,5625 $ (8,00 $), Newmont 18,5625 $ (22,00 $), Barrick 16,875 $ (18,00 $) Battle Mountain
1,9375 $ (2,00 $)

Spekulativ:
TVX 1,875 $ (5,00 $)

Bemerkungen:

-Achtung: Wegen der Marktenge vieler Werte müssen alle Orders limitiert werden!

-Alle Werte werden auch in Deutschland gehandelt.

-Bei New Hampton wurden am 24.12.99 Mineral Deposits Limited (MDL) Aktien im Verhältnis von
5 MDL für 18 New Hampton Aktien und Gratisoptionen im Verhältnis von 1 Option, Laufzeit
31.05.01, Basis 0,23 A$ für 2 New Hampton Aktien abgeschlagen.

-Die Dividende der Delta Gold ist durch die aktuellen Probleme in Simbabwe und auf den
Solomonen Inseln gefährdet.

-Am 31.07.00 wurden die Aktien der TVX im Verhältnis von 5 alten Aktien zu 1 neuen Aktien
zusammengelegt.


Unternehmensmeldung
(AUS=Australien, NA=Nordamerika, SA=Südafrika, $=US$, MKP=Marktkapitalisierung),
Marktkapitalisierung immer in A$, Produktionskosten immer in US$

18.08.00 Spinifex (AUS, MKP 33,2 Mio A$) meldet für das Juniquartal erneut sehr erfolgreiche
Explorationsbohrungen aus dem Nyakafuru Projekt (90 % Anteil), so daß eine Ausweitung der
Ressourcen von aktuell 506.000 oz auf über 750.000 oz für das Septemberquartal vorausgesagt
wird. Die Goldgehalte erreichten bis zu 11,8 g/t über eine Bohrkernlänge von 9 Metern. Inklusive
der Projekte, die in einem Joint Venture mit Ashanti (Ghana) exploriert werden verfügt Spinifex
über Goldressourcen von 1,4 Mio oz. Auch in diesen Projekten konnten erfolgreiche
Explorationsbohrungen durchgeführt werden, deren Ergebnisse jedoch noch ausstehen.

Beurteilung: Mit dem aktuellen Cashbestand von 5,6 Mio A$ und den erwarteten Zahlungen über
13,1 Mio A$ für die Beteiligung der Ashanti verfügt Spinifex über 18,7 Mio A$ flüssige Mittel, so
daß die Exploration auf hohem Niveau fortgesetzt werden kann. Da Ashanti zusätzlich 14 Mio A$
in die gemeinsamen Projekte investieren will, sind überzeugende Explorationsresultate zu
erwarten. Die von Anglogold (GB) und Ashanti erfolgreich eröffnete Geita Mine erhöht das
Interesse an den Projekten der Spinifex, die mitten zwischen den großen Projekten der Anglogold
und Barrick Gold (NA) im wohl interessantesten Explorationsgebiet der Welt liegen.

Empfehlung: Nach unserer Kaufempfehlung am 22.12.99 zu 0,115 A$ und unserer
Verkaufsempfehlung am 20.03.00 zu 0,40 A$ empfehlen wir Spinifex jetzt unter 0,15 A$ wieder
zurückzukaufen und haben die Aktie in unser australisches Explorationswertedepot
aufgenommen, aktueller Kurs 0,15 A$ (vgl. Kaufempfehlung vom 23.06.00 bei 0,11 A$).

Die Goldhotline

[seinfeld]

@goldhotline
Sie empfehlen Spinifex bis 0,15 AUD zu kaufen und haben den Wert
auch in Ihr australisches Explorationswertedepot aufgenommen.
Jetzt würde mich allerdings noch interessieren, welches Kursziel
Sie sich selbst gesteckt haben, denn davon ist in Ihren
Ausführungen leider nicht die Rede. VIELEN DANK!!
Seinfeld

[Goldhotline]

Unser aktuelles Kursziel liegt bei 0,60 A$. Das Kursziel ändert sich:

1. Bei einer relativen Überbewertung gegenüber anderen Gesellschaften (z.B. Verkaufempfehlung am 20.03.00 bereits bei 0,40 A$),
2. Bei einer unerwartet positiven Entwicklung (Ausweitung der Ressourcen, Reserven, usw.),
3. Bei einem Goldpreisanstieg über 320 $/oz (dann werden alle Kursziele erhöht),
4. Bei einem kurzfristigen Übernahmeangebot (je nach Höhe des Angebotes).
5. Bei anhaltender Erfolglosigkeit (wegen der jüngsten Explorationserfolge sicherlich nicht in den nächsten 12 Monaten).

Die Goldhotline

[seinfeld]

WOWWW!!!

[pLeXt0r]

was meint ihr, wann der Kurs wieder anfängt zu steigen, bin bei 0,11€ rein, das schon vor knapp 4 monaten...

MfG pLeXt0r

[manfred1_I]

Es kann jetzt jederzeit losgehen.
Ich habe ebenfalls von den fantastischen
Gebieten in Afrika berichtet.

Sobald jetzt der Goldpreis steigt, dann
wirds richtig spannend.

[Bota]

Wie wahrscheinlich ist es denn ,daß der Goldpreis steigt bzw.von welchen Faktoren hängt das ab?
Oder gibt es vielleicht irgendwo seriöse Quellen,die darüber bzw.über den tagesaktuellen Stand berichten?
Ich denke derzeit über ein Investment nach und wäre für eine Info sehr dankbar.

[Sovereign]

Hier der aktuelle Quartalsbericht per 30.9. (nachzulesen unter www.asx.com.au)

Resumée: Spinifex hat die Ressourcen im Nyakafuru-Projekt von 506.000 Oz auf 730.000 Oz ausgeweitet.
Auch die bisherigen Bohrergebnisse aus dem Ashanti-joint venture hören sich vielversprechend an (sind allerdings noch nicht vollständig ausgewertet). Im laufenden Quartal wurden 900.000 Aus-$ für die Exploration aufgewendet, womit Spinifex noch ca. 3,2 Mio. Aus-$ cash in der Kasse hat.

Gruß

Sovereign

SPINIFEX GOLD LIMITED 2000-10-31 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
HIGHLIGHTS

NYAKAFURU

* Resource upgrade of 45% from March 2000 resource statement to
730,000 ounces @ 6.32 g/t Au uncut.

* 52 Reverse Circulation holes (including 1 diamond pre-collar) for
6,323 metres were, completed. A list of results from NPRC 265 - 316
is detailed in Table 1.

* 7 Diamond holes for 1,263 metres were completed. A list of results
from NPD038 - NPDO42, NPRCD253, NPRCD264 and NPRCD307 is detailed
in Table 2.

BETTER RESULTS WERE:

NPRC273 13.Om @ 49.38 g/t Au from 177-190m
NPDO38 3.Om @ 14.26 g/t Au from 84-87m
NPRCD253 1.9m @ 15.44 g/t Au from 353.5-355.4m
NPRCD253 2.8m @ 15.29 g/t Au from 538.2-541m

MAJI MOTO

* First pass rock chip sampling program returns numerous high grade
results up to 192g/t Au.

BUCKREEF/ RWAMAGAZA - ASHANTI JOINT VENTURE

* First three, Diamond holes drilled intercepted high grade
mineralisation over a 300m strike length:

BMRCD 220 2.00m @ 18.05 g/t Au from 558 - 560m
BMRCD 221 2.65m @ 12.06 g/t Au from 5l9.5-521.15m
BMRCD 222 7.00m @ 6.36 g/t Au from 479-486m

* 67 Reverse Circulation holes (including 3 diamond pre-collar) were
completed for the quarter. Best intersections included:

9.Om @ 54.37 g/t Au at Bingwa
9.Om @ 14.09 g/t Au at Bingwa
3.Om @ 11.63 g/t Au at New Iseni
3.Om @ 22.60 g/t Au at Tembo
3.Om @ 25.47 g/t Au at Nyamapia

NYAKAFURU (90% Owned)

A Reverse Circulation drilling program to test the mineralisation in
Reefs 2 West and 6 down to the 200m level and to determine the
potential of Reefs 4 and 7 was completed during the quarter. Fifty-
two Reverse Circulation holes including one diamond pre-collar for
6,323 metres were completed for the quarter and results are
summarised in Table 2. Best results included l3m @ 49.38 g/t Au in
NPRC273 (Reef 6) from 177 to 190m. Seven Diamond holes were completed
for 1,263 metres. Reef 2 East was intersected 485m vertically below
surface in NPRCD253 (10m @ 1.44g/t Au from 510 to 520m and 2.8m @
15.29g/t Au from 538.2 to 541m). Results are summarised in Table 3.
The resource of 506,000 oz @ 4.7 g/t Au was increased to 730,000 oz @
6.32 g/t Au uncut (Table 1).

TABLE 1: NYAKAFURU RESOURCE SUMMARY 2G/T CUT OFF (NO UPPER CUT)

REEF CATEGORY TONNES Au g/t OUNCES
Reef 2 East

Measured 1,180,000 5.87 220,000
Indicated 140,000 4.38 20,000
Inferred 990,000 5.94 190,000
Subtotal 2,310,000 5.81 430,000

Reef 2 West

Measured 550,000 6.39 110,000
Indicated 90,000 5.26 15,000
Inferred 110,000 6.97 25,000
Subtotal 750,000 6.34 150,000

Reef 6

Measured 220,000 9.40 65,000
Indicated 60,000 8.36 15,000
Inferred 160,000 7.60 40,000
Subtotal 440,000 8.60 120,000

Reef 3

Inferred 50,000 9.88 20,000

Reef 1

Inferred 30,000 6.00 10,000

Total 3,580,000 6.32 730,000

A RAB drilling programme to test anomalies defined in the recently
completed IP survey and structures interpreted from the airborne
geophysical survey was completed during the quarter. One hundred and
ten RAB holes for 4,726 metres were completed for the quarter and
significant intersections received to date are summarised in Table 4.

GEOLOGY

Surface exposure within the Nyakafuru Project area is poor. Granites
outcrop in the north and southwest. Dominant lithologies of mafic to
ultramafic volcanics are covered by a thin (commonly 5-8m thick)
ferricrete horizon and wide "mbuga" clays at the granite-greenstone
contact zone. Several north-south orientated dolerite dykes exposed
in artisanal workings transgress the property.

MINERALISATION

Gold mineralisation at Nyakafuru has a strong structural control.
Best gold grades are reported from the steeply dipping north-south
shears and are associated with intense silica flooding, quartz
veining, carbonate alteration and prominent sulphides. Broad
anomalous zones with grades generally less than 1 m @ 1 g/t are
reported from the north-west shears as seen in Reef 9 although a high
grade zone was intersected in the north-west bounding shear in
NPRCD253 (1.9m @ 15.44g/t Au). Gold is contained in sulphides.

Gold occurs mostly as fines in pyrite. Other ore minerals are
uncommon but minor occurrences of arsenopyrite and several copper
sulphides have been noted. Traces of galena and chalcopyrite
associated with mineralisation have been logged in drilling.

There is evidence of introduction of auriferous fluids along both the
north-west and north-east set of structures that post-date the
north-south shears;

* Best gold grades are encountered in the north-south shears adjacent
to the intersection of the north west and north south structures as
shown in Reef 6.

* Although the structure continued south of a dextral shear that
displaced Reef 2 West immediately south of line 9640N, no significant
gold mineralisation was reported.

* Gold mineralisation is confined to thin quartz veins generally less
than 10cm thick in Reef 9, which strikes at 320 degrees.

* Both Reefs 2 East and 2 West are contained within a broad
north-east trending high resistivity silica corridor.

The mineralised north-south shears are roughly sigmoidal in shape and
have a pinch and swell geometry.

DISCUSSION OF RESULTS

* REEF 2 EAST AND 2 WEST

One Diamond tail (NPRCD253) drilled on Line 9680N intersected Reef 2
East at 485m vertical depth (2.8m @ 15.29g/t Au). As previously
reported the Reef 2 East structure was intersected in NPRCD264 on
Line 9720E and reported a grade of 1m @ 1.38 g/t Au from 645 to 646m.
The narrow intersection is attributed to the pinch and swell geometry
of the orebody and confirms mineralisation continues at a vertical
depth greater than 550 metres.

Reef 2 West has been defined over a strike length of 220 metres down
to a vertical depth of 200m and to 250 metres on Line 9720N with a
best intersection of 8m @ 9.67 g/t Au from 298 to 306 metres
(previously reported). A silica/carbonate shear with prominent
sulphides was intersected in NPRCD307 from 405 to 420m. Anomalous
results of <1g/t were reported.

* REEF 6

Reef 6 is bounded to the north by an apparent NW structure, dipping
to the south-west and remains open to the south, south of 9720N (4m @
4.56g/t Au in NPRC311 from 155-159m). Recent results suggest Reef 6
has a prominent chute geometry with high grade chutes plunging to the
north at roughly 20 degrees. A best intersection of 13m @ 49.38 g/t
was reported in NPRC273 on Line 9880N from 177-190m.

* REEF 4

The Reef 4 structure was intersected on Lines 10,000N and 10120N.
Intersections included 5m @ 1.09g/t in NPRC312 from 92-97m and 5m @
1.2g/t in NPRC313 from 110-115m in NPRC313. Additional drilling on
Reef 4 could define a high grade chutes similar to those defined in
Reef 6 as the area has been worked extensively by artisanal miners.

TABLE 2: SUMMARY OF RC DRILLING RESULTS

HOLE ID NORTH EAST DEPTH DEC AZIM INTER WIDTH AU(g/t)
(deg) (deg) SECTION

NPRC265 9840 4480 214 -60 90 NSR
NPRC266 9840 4450 226 -60 90 NSR
NPRC267 9800 4310 60 -60 270 NSR
NPRC268 9800 4340 112 -60 270 41-49 8 1.12
NPRC269 9800 4400 238 -60 270 NSR
NPRC270 9800 4200 226 -60 90 NSR
NPRC271 9840 4400 208 -60 270 NSR
NPRC272 9840 4220 200 -60 90 NSR
NPRC273 9880 4400 196 -60 270 177-190 13 49.38
NPRC274 9880 4430 244 -60 270 NSR
NPRC275 9880 4190 230 -60 90 NSR
NPRC276 9520 3990 82 -60 90 NSR
NPRC277 9570 3990 100 -60 90 NSR
NPRC278 9570 3950 4 -60 90 Abandoned
NPRC279 9566 3950 200 -60 90 NSR
NPRC280 9920 4230 220 -55 90 NSR
NPRC281 9960 4260 148 -55 90 134-138 4 0.94
NPRC282 10000 4400 202 -55 270 93- 96 3 1.07
NPRC283 9918 4260 174 -55 90 151-158 7 1.35
NPRC284 9760 4230 158 -55 90 139-142 3 2.71
NPRC285 10080 4160 180 -55 90 160-162 2 1.41
165-166 1 1.84
168-169 1 1.18
NPRC286 10120 4170 145 -60 90 126-129 3 2.63
NPRC287 10200 4100 184 -55 90 167-174 7 0.92
NPRC288 9440 4900 51 -50 90 NSR
NPRC289 9440 4875 51 -50 90 NSR
NPRC290 9440 4850 51 -50 90 NSR
NPRC291 9440 4825 39 -50 90 NSR
NPRC292 9560 4800 51 -50 90 NSR
NPRC293 9560 4840 51 -50 90 NSR
NPRC294 9560 4880 46 -50 90 NSR
NPRC295 9560 4920 39 -50 90 NSR
NPRC296 10040 3940 42 -50 90 NSR
NPRC297 10040 4900 50 -50 90 NSR
NPRC298 10040 4860 45 -50 90 NSR
NPRC299 10040 4820 45 -50 90 NSR
NPRC300 10160 4940 39 -50 90 NSR
NPRC301 10160 4915 39 -50 90 NSR
NPRC302 10160 4890 44 -50 90 NSR
NPRC303 10160 4865 44 -50 90 NSR
NPRC304 10160 4815 44 -50 90 NSR
NPRC305 10320 4750 140 -55 270 NSR
NPRC306 9880 4270 142 -55 90 121-124 3 2.18
NPRC308 9460 4405 54 -50 90 NSR
NPRC309 9460 4380 45 -50 90 NSR
NPRC310 9460 4355 45 -50 90 NSR
NPRC311 9720 4200 185 -55 90 155-159 4 4.56
NPRC312 10120 3540 142 -55 90 82- 87 5 0.86
92- 97 5 1.09
NPRC313 10000 3547 160 -55 90 110-115 5 1.20
NPRC314 9920 3680 178 -55 270 NSR
NPRC315 9920 3780 168 -55 90 NSR
NPRC316 9460 4198 142 -60 90 59- 60 1 1.72

* NSR = No


TABLE 3: SUMMARY OF DIAMOND DRILLING RESULTS

INTER- Au
HOLE ID NORTH EAST DEPTH DEC AZIM SECTION WIDTH (g/t)

NPDO38 9999 4360 114 -60 270 84-87 3 14.26
103-107 4 1.62
NPDO19 10038 4160 180 -60 90 144-149 5 1.22
151-155 4 2.18
158-159 1 1.09
NPDO40 10200 4126 169 -60 90 144-146 2 1.69
NPDO41 10055 3930 84 -60 90 65.4-67 1.6 0.8
NPDO42 1O296 3750 78 -60 90 NSR
NPRCD253 9680 4430 571.1 -60 90 210.8-211.9 1.1 4.57
227.7-228.2 0.5 3.09
353.5-355.4 1.9 15.44
510-520 10 1.44
535-535.7 0.7 1.67
538-2-541 2.8 15.29
NPRCD264 9720 4350 696 -60 90 645-646 1 1.38
NPRCD307 9720 4270 471.1 -55 90 40-43 3 1.33


TABLE 4: SUMMARY OF SIGNIFICANT RAB DRILLING RESULTS

INTER- Au
HOLE-ID NORTH EAST DEPTH DEC AZIM SECTION WIDTH (g/t)

NPRB175 10300 4910 36 -50 90 6-7 1 22.03
NPRB195 9460 4250 45 -50 90 9-14 5 1.43
NPRB197 9460 4225 45 -50 90 13-16 3 0.60
NPR3211 9606 3850 51 -50 90 39-40 1 0.63
NPRB212 9600 3900 51 -50 90 25-27 2 0.92
NPRB237 9960 3850 45 -50 90 11-19 8 1.10
NPRB244 10400 3400 50 -50 90 37-42 5 0.50

RESOURCE CALCULATION

* RESOURCE SAMPLING

All sampling is according to industry standards utilising
face-sampling hammers. Dry samples pass through a purpose built, rig
attached cyclone, and are collected at 1m intervals in 750mm * 450mm
plastic bags. The samples are then split using a multi-stage riffle
splitter. Wet samples are collected in the same fashion and dried in
calico bags to reduce loss of fines.

Wet drilling was encountered below the Water table from approximately
70m. Holes were blown dry after each rod change to minimize
contamination, Weak contamination was seen in drill cuttings from
fresh rock below the water table, although assays indicate a sharp
contrast from mineralised to unmineralised portions indicating minor
to insignificant contamination.

* SAMPLE ASSAY

Individual metre samples collected during initial drilling programmes
were sent to the company`s laboratory at the Buckreef Project with
regular checks done at external laboratories. Check results were
consistent with results from the Buckreef laboratory. Samples from
the second, third and forth phase of drilling were analysed by SGS
Laboratory Services, a commercial laboratory, in Mwanza. Four metre
composite samples and individual metre samples over mineralised shear
zones were submitted for assay for the third and fourth phase.

All assays were for gold using standard fire assay / fusion digest of
a 50 gram pulp and read by AAS.

* DRILL LOGS

All drill logs are recorded as follows:

Project name, hole number, grid used, collar co-ordinates in local
grid, inclination of hole, azimuth of hole in local grid, depth,
drill contractor, date started, date finished, name of geologist
logging hole, sheet number, sample interval, collar, regolith,
grainssize, foliation, sulphide content, vacant areas for dominant
mineral percentages, alteration, lithology by way of internal
lithological code and general description.

Representative samples are collected in chip trays for every metre
drilled.

* SURVEY CONTROL

NPD001 - NPDO14 Collar information only.
NPD015 - NPD036 Collar information, double shot, bottom middle of
hole.
NPD37 - NPD042 Collar information, multi-shot to bottom of hole.
NPRCD253 Collar information, multi-shot to bottom of hole.
NPRCD257 Collar information, multi-shot to bottom of hole.
NPRCD264 Collar information, multi-shot to bottom of hole.
NPRCD307 Collar information, multi-shot to bottom of hole.
NPRC001 - NPRC033 Collar information, single shot, bottom of hole only
NPRC034 - NPRC194 Collar information only.
NPRC195 - NPRC318 Collar information, double shot, bottom middle of
hole.

Recent downhole surveys are considered reliable and accurate. The
resulting downhole data for the Nyakafuru Prospect is considered
adequate to be representative and allow for the estimation of the
resource.

The surface topography used in the modeling of the resource area on
the Nyakafaru Prospect is considered to be flat with a nominal RL set
at 1000m above sea level.

MORE TO FOLLOW

MINING EXPLORATION ENTITY QUARTERLY REPORT

Name of entity
Spinifex Gold Limited

ACN or ARBN Quarter ended ("current quarter")
064 445 870 30/09/2000

CONSOLIDATED STATEMENT OF CASH FLOWS

Cash flows related to Current Year to date
operating activities Quarter (3 months)
AUD`000 AUD`000
1.1 Receipts from product sales
and related debtors - -
1.2 Payments for
(a) exploration and evaluation (954) (954)
(b) development - -
(c) production - -
(d) administration (210) (210)
1.3 Dividends received - -
1.4 Interest and other items of
a similar nature received 53 53
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 (1,111) (1,111)

Cash flows related to investing activities
1.8 Payment for purchases of:
(a) prospects - -
(b) equity investments - -
(c) other fixed assets (6) (6)
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 - project investigation costs (12) (12)
staff advances and loans (78) (78)

Net investing cash flows (96) (96)

1.13 Total operating and
investing cash flows (1,207) (1,207)

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) - -

Net financing cash flows - -

Net increase (decrease) in cash held (1,207) (1,207)

1.20 Cash at beginning of quarter/
year to date 4,575 4,575

1.21 Exchange rate adjustments to item 1.20 4 4

1.22 Cash at end of quarter 3,372 3,372


PAYMENTS TO DIRECTORS OF THE ENTITY AND ASSOCIATES OF THE DIRECTORS
PAYMENTS TO RELATED ENTITIES AND ASSOCIATES OF THE RELATED ENTITIES

Current Quarter
AUD`000

1.23 Aggregate amount of payments to
the parties included in item 1.2 100

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

1.25 Explanation necessary for an understanding
of the transactions

The aggregate payment comprises Directors fees and remuneration and
fees paid to a director related entity for the provision of
accounting, secretarial and office administration services and office
rent.

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 Amount
available used
AUD`000 AUD`000

3.1 Loan facilities - -
3.2 Credit standby arrangements - -


ESTIMATED CASH OUTFLOWS FOR NEXT QUARTER AUD`000

4.1 Exploration and evaluation 500
4.2 Development -

Total 500


RECONCILIATION OF CASH

Reconciliation of cash at the end Current Previous
of the quarter (as shown in the quarter quarter
consolidated statement of cash flows) AUD`000 AUD`000
to the related items in the accounts
is as follows.

5.1 Cash on hand and at bank 102 258
5.2 Deposits at call 3,270 4,317
5.3 Bank overdraft - -
5.4 Other (provide details) - -

Total: cash at end of quarter (item 1.22) 3,372 4,575


CHANGES IN INTERESTS IN MINING TENEMENTS

Tenement Nature of Interest at Interest
reference interest beginning at end of
(note(2)) of quarter quarter

6.1 Interests in
mining tenements
relinquished,
reduced or lapsed EL63/401 Licence 100% -
expired
MLA15/1203 Application
withdrawn 100% -

6.2 Interests in
mining tenements
acquired or
increased ELA63/752 Licence - 100%
applied for


ISSUED AND QUOTED SECURITIES AT END OF CURRENT PERIOD
Description includes rate of interest and any redemption or
conversion rights together with prices and dates.

Category of Number Number Issue Paid-up
securities issued quoted Price value
(cents) (cents)
7.1 Preference
securities
(description) - - - -


7.2 Changes during
current period
(a) increases through
issues - - - -
(b) decreases through
returns of capital
buybacks,
redemptions - - - -


7.3 Ordinary
securities 229,504,032 229,504,032 - -


7.4 Changes during
current period
(a) increases through
issues - - - -
(b) decreases through
returns of capital
buybacks - - - -


7.5 Convertible debt
securities
(description and
conversion factor) - - - -


7.6 Changes during
current period
(a) increases through
issues - - - -
(b) decreases through
securities matured,
converted - - - -


7.7 Options (description Exercise Expiry
and conversion factor) price date
(cents)

78,989,907 70,264,907 See See
Attachment Attach-
1 for ment 1
details for
details

7.8 Issued during
current period 4,000,000 4,000,000 20 30/06/2002


7.9 Exercised during
current period - - - -


7.10 Expired during
current period - - - -


7.11 Debentures
(totals only) - -

7.12 Unsecured notes
(totals only) See -
Attachment 1
for details


COMPLIANCE STATEMENT

1 This statement has been prepared under accounting policies which
comply with accounting standards as defined in the Corporations Law
or other standards acceptable to ASX.

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

R Gajewski Date: 31/10/2000
MANAGING DIRECTOR

SPINIFEX GOLD LIMITED 2000-10-31 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
ATTACHMENT 1

OPTION EXERCISE PERIODS AND EXPIRY DATES

NUMBER EXERCISE PRICE EXERCISE PERIODS / EXPIRY DATES

LISTED

70,264,907 20 cents On or before 30 June 2002

UNLISTED

6,250,000 20 cents On or before 30 June 2002
66,666 20 cents On or before 21 October 2000
133,334 20 cents On or before 21 October 2001
491,666 20 cents On or before 16 November 2001
983,334 20 cents On or before 16 November 2002
266,666 20 cents On or before 12 January 2003
533,334 20 cents On or before 12 January 2004

8,725,000 Total unlisted options

78,989,907 Total listed and unlisted options

CONVERTIBLE NOTES (AS AT 30 SEPTEMBER 2000)

A. US DOLLAR NOTE (UNSECURED)

1. Face value of USD$1.5 million with a three year term.

2. Convertible to ordinary shares at the option of the note holder
(African Lion Ltd) as follows:

* Year 1 (June 1999 to May 2000) - no conversion except in the event
of a takeover offer for Spinifex`s shares;

* Year 2 (June 2000 to May 2001) - convert to 14,423,076 Spinifex
shares (price of AUD$0.16 per share at a fixed exchange rate of
1 AUD$ to USD$0.65); and

* Year 3 (June 2001 to May 2002) - convert to 11,538,461 Spinifex
shares (price of AUD$0.20 per share at a fixed exchange rate of
1 AUD$ to USD$0.65).

3. In the event of a takeover offer for Spinifex`s shares, African
Lion Ltd, at its discretion, is permitted in year 1 to convert the
note to 14,423,076 Spinifex shares. Conversion in years 2 and 3 is on
similar terms to those described in number 3 above.

4. If African Lion Ltd does not exercise its conversion rights, the
note is repayable in June 2002 at which time Spinifex shall also pay
interest calculated at a compound rate of 5% per annum.

B. CANADIAN DOLLAR NOTE (SECURED)

Face value of Cdn$1,901,973 and redeemable on 30 June 2001. The note
is convertible to 15,499,449 ordinary shares in Spinifex Gold Ltd.
The note is secured by a fixed and floating charge over all the
assets of Spinifex`s wholly owned subsidiary, East Africa Gold
Corporation including its shares in East Africa Mines Ltd, which
entity owns the mineral projects in Tanzania.

[SOM.you.]

RE: Spinifex

ich würde ganz gerne folgendes Bohrloch besprechen :

NPRC001

.....

spass beiseite, eine Erholung am Goldmarkt würde uns jetzt nicht schaden, wobei Spinifex ganzheitlich ja fortschritte macht.


SOM

[DrLupo]

@Som.you :leider muss ich dir nach dem Studium des annual reports etwas Wasser in den Wein tun.

Negativ: Vertrag von Ashanti jederzeit kündbar, Management genehmigt sich für einen Explorer eine

Stange Geld,Erzkörper noch zu klein um wirtschaftlich abgebaut zu werden,SPX wird eine eigene Plant

Mit der nötigen Infrastruktur erstellen müssen,dh. Feasability muss kommen

Positiv: zahlt Ashanti(US-$)bis zum Ende Keine Geld probleme für SPX, Alle bisher in dieser Gegend gefundenen

Erzkörper waren dicke Brummer (up to 3.000.000 ounces) und SPX hat schon 3 kleine davon.

Etwas undurchsichtige Aktionärsstruktur ( Lion und Mooser kontrollieren SPX)was einen schnellen Anstieg

bremsen und eine Übernahme erleichtern würde.

Trotzdem erscheint SPX eine hochinteressante Spekulation zu werden.

cu DrLupo

[SOM.you.]

RE: Top shareholder

bei einer möglich Übernahme, ist es doch relative einfach, wenn man mehr als 20 % von einem Shareholder (lion) erhalten kann.

SOM