4th Qtr Rslts Appdx - Part II

Centamin Egypt Limited
31 July 2003


                                                                        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
Centamin Egypt Limited

ABN                           Quarter ended ('current quarter')
-------------------           ------------------
86 007 700 352                30 June 2003
-------------------           ------------------


Consolidated statement of cash flows
                                                     ------------  ------------
                                                     Current       Year to
                                                     quarter       date
Cash flows related to operating activities           $A'000        (12 months)
                                                                   $A'000
                                                      ------------ ------------
                                                                    ------------
  1.1   Receipts from product sales and related
        debtors                                       ------------
        ----------------------

  1.2   Payments for         (a) exploration and      ( 1,380)      ( 4,604)
        evaluation
        (b) development                                ( 190)        ( 190)
        (c) production
        (d) administration                             ( 177)       ( 1,350)
  1.3   Dividends received
  1.4   Interest and other items of a similar nature     275           492
        received
  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                      ( 1,472)      ( 5,652)

        Cash flows related to investing activities
  1.8   Payment for purchases of:    (a) prospects
        (b) equity
        investments
        (c) other fixed                                 ( 4)          ( 72)
        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                        ( 4)             ( 72)
                                                     ------------  ------------
 1.13   Total operating and investing cash flows      ( 1,476)        ( 5,724)
 ------ (carried forward)                            ------------  ------------
        ----------------------


 ------ ----------------------
 1.13   Total operating and investing cash flows      ( 1,476)         ( 5,724)
        (brought forward)                            ------------  ------------

        Cash flows related to financing activities
 1.14   Proceeds from issues of shares, options,                         29,199
        etc.
 1.15   Proceeds from sale of forfeited shares
 1.16   Proceeds from borrowings
 1.17   Repayment of borrowings                       ( 1,137)         ( 1,462)
 1.18   Dividends paid
 1.19   Cost of Fund Raising                                             ( 892)
                                                      ------------ ------------
        Net financing cash flows                      ( 1,137)          26,845
                                                     ------------   ------------

        Net increase (decrease) in cash held          ( 2,613)          21,121

 1.20   Cash at beginning of quarter/year to date       27,573           3,954
 1.21   Exchange rate adjustments to item 1.20          ( 333)           ( 448)
                                                     ------------  ------------
 1.22   Cash at end of quarter                            24,627        24,627
 ------ ----------------------                        ------------  ------------

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            168
 ------ item 1.2                                                   -------------
        --------------------------------

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

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

        (a)           Mr Sami El-Raghy, a director and employee of the Company
        received salary and superannuation for the quarter amounting to $52,821
        ($211,200) for the year to date).

        (b)           Mr Josef El-Raghy, a director and employee of the Company
        received salary and superannuation for the quarter amounting to $55,000
        ($205,897 for the year to date).

        (c)           Mr Sami El-Raghy is also a Director and Shareholder of
        El-Raghy Kriewaldt Pty Ltd ('El-Raghy Kriewaldt'). El-Raghy Kriewaldt
        provide office premises to the Company. All dealings with El-Raghy
        Kriewaldt are in the ordinary course of business and on normal terms and
        conditions. Rent paid to El-Raghy Kriewaldt during the current quarter
        amounted to $12,636 ($48,636 for the year to date).

        (d)           Directors Fees and superannuation paid during the quarter
        amounted to $46,562 ($102,208 for the year to date).

        (e)           Insurance - Mr Colin Cowden, a director of the Company, is
        also a director and controlling shareholder of Cowden Limited, Insurance
        Brokers. All dealings with Cowden Limited are in the ordinary course of
        business and on normal terms and conditions. A total of $762 was paid
        during the quarter to Cowden Limited for Travel Insurance.
                                     -------------------------------------------
                                     -------------------------------------------



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                                        2,784
                                                                 ---------------
 4.2   Development                                                         660
 -----                   -----------------------------           ---------------
                                                                         3,444
                                               Total
 -----                   -----------------------------           ---------------

Reconciliation of cash
-------------------------                             ------------  -----------
Reconciliation of cash at the end of the quarter (as  Current       Previous
shown in the consolidated statement of cash flows) to quarter       quarter
the related items in the accounts is as follows.
                                                      $A'000        $A'000
                            ------------------------- ------------  -----------
                                                                     -----------
 5.1   Cash on hand and at bank                               291          599
                                                       ------------  -----------
 5.2   Deposits at call                                    19,312       21,459
                                                       ------------  -----------
 5.3   Bank overdraft
                                                       ------------  -----------
 5.4   Term Deposit                                         5,024        5,515
 ----- ----------------------                          ------------  -----------
       Total: cash at end of quarter (item 1.22)           24,627       27,573
 ----- ----------------------                          ------------  -----------



Changes in interests in mining tenements

                           --------    ---------------      --------   -------
                           Tenement    Nature of interest   Interest   Interest
                           reference                        at         at end of
                                                            beginning  quarter
                                                            of
                                                            quarter
                                       (note (2))
                              -------- ---------------        --------   -------
 6.1   Interests in mining E80/1708    Joint Venture              10%        0%
       tenements                       earning 80% of 50%
       relinquished,                   interest (Tenement
       reduced or lapsed               Surrendered)

                              --------      ---------------   --------   -------
 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        Issue price per   Amount paid up
       -------------- number        quoted        security (see     per security
                      ----------    ----------    note 3) (cents)   (see note 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
        securities
                      501,910,369   501,910,369
                         ----------    ----------        ----------   ------------
  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)

                       49,999,744       NIL          20 cents        09/11/2003
                         ----------  ----------      ----------      ------------
  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:
............................

(Director/Company secretary)





Print name:
.........................................................


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.



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