COPY OF FINAL PROSPECTUS - Mirabela Nickel

MIRABELA NICKEL LIMITED
STATEMENTS OF CASH FLOWS
For the year ended 30 June 2006
Consolidated
The Company
Notes 2006 2005 2006 2005
(AUD) (AUD) (AUD) (AUD)
Cash flows from operating activities
Cash paid to suppliers and employees ....................... (1,279,511) (486,546) (3,227,322) (1,377,130)
Net cash from operating activities ......................... 22 (1,279,511) (486,546) (3,227,322) (1,377,130)
Cash flows from investing activities
Acquisition of property, plant and equipment .................. (191,075) (155,861) (48,539) (136,559)
Payment for exploration and evaluation expenditure .............. (7,631,768) (4,178,948) —
Payments for investments in controlled entities ................. — — (6,222,631) (3,283,085)
Cash acquired on acquisition of subsidiary .................... — 50,766 — —
Net cash from investing activities ......................... (7,822,843) (4,284,043) (6,271,170) (3,419,644)
Cash flows from financing activities
Proceeds from the issue of share capital ..................... 13,677,500 6,797,000 13,677,500 6,797,000
Share issue costs .................................... (62,082) (349,903) (62,082) (349,903)
Interest received .................................... 161,918 86,490 161,893 86,483
Net cash from financing activities ......................... 13,777,336 6,533,587 13,777,311 6,533,580
Net increase in cash and cash equivalents .................... 4,674,982 1,762,998 4,278,819 1,736,806
Cash and cash equivalents at 1 July ........................ 8 1,762,998 — 1,736,806 —
Effect of exchange rate fluctuations on cash held ................ (10,183) — — —
Cash and cash equivalents at 30 June ....................... 8 6,427,797 1,762,998 6,015,625 1,736,806
The accompanying notes form part of these financial statements.
Comparative information is for the 16 month period ending 30 June 2005.
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