Effective May 03, 2013, Padang Resources Limited will change its name to Palace Resources Limited.

Padang Resources Limited announced that at its AGM held on November 28, 2012, the shareholders approved the election of Mr. Alistair Jobling as a director.

Padang Resources Limited reported consolidated earnings results for the year ended June 30, 2012. For the period, the company reported net loss of AUD 2,071,629 or 0.63 cents per basic and diluted share compared to net loss of AUD 2,843,521 or 1.2 cents per basic and diluted share a year ago. Loss before income tax was AUD 2,071,629 compared to AUD 2,843,521 a year ago. Loss from continuing operations was AUD 2,147,003 compared to AUD 2,912,594 a year ago. Total comprehensive loss for the period attributable to the shareholders of the parent was AUD 2,082,867 compared to AUD 2,768,834 a year ago. Net cash used in operating activities was AUD 1,614,981 compared to AUD 3,437,869 a year ago. Payments for plant and equipment were AUD 863 compared to AUD 1,899 a year ago. Payments for other asset was AUD 347,259.