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ABN 15 074 728 019

AND CONTROLLED ENTITIES

APPENDIX 4D

FOR THE HALF-YEAR ENDED 31 DECEMBER 2008

GIVEN IN ACCORDANCE WITH ASX LISTING RULE 4.2A.

BLAZE INTERNATIONAL LIMITED ABN 15 074 728 019


For the half-year ended 31 December 2008

Appendix 4B to 31 December 2008 Blaze International Limited ABN 15 074 728 019

1

Results for Announcement to Market

SUMMARY RESULTS FOR THE PERIOD ENDED 31 DECEMBER 2008 The following is a summary of the financial results for the period ended 31 December 2008 (previous corresponding period 31 December 2007).

Increase/

(Decrease) %

Six months ended 31 December 2008

$

Six months ended 31 December 2007

$ Revenue from ordinary activities

(100%)

- 139,705

Profit (Loss) before Interest and Tax (EBIT) from ordinary activities

(39%)

(288,753) (471,994)

Income tax benefit

- - -

(Profit for the period attributable to members (NPAT)

(39%)

(288,753) (471,994)

Brief Explanation of above figures Refer to the Review of Operations on page 1 of the attached Half Yearly Report for the period ended 31 December 2008.

Dividends There were no dividends declared or paid during the period and the directors do not recommend that any dividend be paid

Controlled Entities There were no controlled entities gained or lost during the period Earnings Result The net loss of Blaze International Limited for the half-year ended 31 December 2008 after providing for income tax was $282,340 (31 December 2007: loss $471,994).




Blaze International Limited 2

31 December 2008 31 December 2007

Cents Cents

Earnings Per Share (EPS) Basic earnings per share (cents per share) (0.08) (0.13) Weighted average number of ordinary shares used in the calculation of basic earnings per share

378,436,652

365,759,056 The amount used as the numerator in calculating basic EPS is the same as the net loss reported in the consolidated income statement. 31 December 2008 31 December 2007 Cents Cents Net Tangible Asset (NTA) Backing Per Share Net assets backing per share (cents per share) 1.07 0.90 Compliance Statement

The accounts (attached) are not subject to audit dispute or qualification. This report is based on accounts that have been subject to an audit review. The entity has a formally constituted audit committee.

Vincent Hyde Chairman Dated this 27th day of February 2009

ABN 15 074 728 019


HALF-YEAR FINANCIAL REPORT

FOR THE HALF-YEAR ENDED 31 DECEMBER 2008

This interim financial report does not include all the notes of the type normally included in an annual financial report. Accordingly, this report is to be read in conjunction with the annual report for the year

ended 30 June 2008 and any public announcements made by Blaze International Limited during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001.

CONTENTS

Blaze International Limited

Directors’ Report 1 Auditor’s Declaration of Independence 8 Consolidated Income Statement 9 Consolidated Balance Sheet 10 Consolidated Statement of Changes in Equity 11 Consolidated Cash Flow Statement 12 Notes to the Financial Statements 13 Directors’ Declaration 16 Independent Review Report 17

CORPORATE DIRECTORY

Directors Vincent Hyde (Non Executive Chairman) Bazil Roberts (Non Executive Director) Cecil Che-Cheun Lee (Non Executive Director) Company Secretary Vincent Hyde Registered Office 800 Canning Highway Applecross WA 6153 Telephone: 61 8 9315 1815 Facsimile: 61 8 9315 3299 Head Office Level 7, 257 Collins Street Melbourne, Victoria 3000 Telephone: 61 3 8617 4200 Facsimile: 61 3 8617 4242 Website www.blazelimited.com.au www.famous3D.com

Auditors HLB Mann Judd 15 Rheola Street, West Perth WA 6005 Share Registry Computershare Investor Services Pty Ltd 45 St George’s Terrace Perth WA 6000 Telephone: 61 8 9323 2000 Facsimile: 61 8 9323 2033 Home Securities Exchange ASX Limited Exchange Plaza 2 The Esplanade Perth WA 6000 ASX Code: BLZ

DIRECTORS’ REPORT (Continued)


Your directors submit the financial report of the consolidated entity for the half-year ended 31 December 2008. In order to comply with the provisions of the Corporations Act 2001, the directors report as follows: 1. Directors The names of the Directors who held office during or since the end of the half-year and until the date of this report are noted below. Directors were in office for this entire period unless otherwise stated: Vincent Hyde (Non-Executive Chairman) Bazil Roberts (Non-Executive Director) Cecil Che-Cheun Lee (Non-Executive Director) 2. Results The consolidated entity incurred an operating loss after income tax of $288,753 (31 December 2007: loss $471,994) for the half-year ended 31 December 2008. 3. Review of Operations PIXE and KEMELEON PIXE is a pre-compression filter that works alongside industry standard CODECS to improve the compression attributes of video transmission, especially targeting low bandwidth mobile and wireless sectors of the market. Kemeleon is a Multimedia Messaging Platform and Service that utilises the original Famous 3d animation engine to produce character based MMS messages. Our initial target markets being Asian Mobile Telephony operators. Both PIXE and Kemeleon have continued to perform below expectations and have struggled to gain industry and commercial acceptance. The Board are of the view that significant resources and funds would be required to further enhance both products and are, therefore, evaluating the future directions of these businesses. Yeelirrie Uranium Project Blaze is confident about the potential of their Yeelirrie tenements to host calcrete uranium mineralization. The Blaze Yeelirrie tenements contain extensions and palaeo catchment drainage areas from the world’s largest calcrete hosted uranium deposit (reported 52,000 tonnes of U3O8 at a grade of 1500ppm U3O8), owned by BHP Billiton (“BHPB”). The Blaze tenement covers a net area in excess of 800 square kilometres, with potential to host calcrete uranium mineralisation. Location The Blaze Yeelirrie property is located around 70 kilometres south of the town of Wiluna, 110 kilometres northeast of Sandstone and 90 kilometres northwest of Leinster in the Murchison Mineral Field of Western Australia and adjoins BHP Billiton’s Yeelirrie Mining Leases which hosts the world’s largest calcrete deposit (reported 52,000 tonnes of U3O8 at a grade of 1500ppm U3O8). The property is accessible by minor roads that take-off from the Goldfields Highway and the Agnew-Sandstone and Sandstone-Wiluna roads. (Refer to Figure 1 and 3)





Figure 1

Geology and Uranium Mineralisation Uranium mineralization in the area is present within calcrete that has formed along drainage lines. Intense leaching of the weathered Archean granite bedrock produced ground waters that contain potassium, uranium and vanadium. Previous exploration in the general area was undertaken mainly during the 1970s. Detailed systematic exploration was undertaken in the evaluation of the Yeelirrie deposit. Work outside the Yeelirrie deposit was limited and sporadic in nature. Exploration potential of Blaze’s Yeelirrie property for uranium mineralisation arises from two geological situations. The first of these is extensions to the main drainage system that contains the Yeelirrie uranium deposit. Away from the main drainage channel, there is evidence that evaporative concentration of ground waters may have occurred on tributaries to the main drainage. Blaze initially acquired and processed 400 metre line spaced airborne radiometric and magnetic data for the Yeelirrie area, which has now been interpreted in conjunction with Landsat TM data. The evidence suggests that much of the Yeelirrie landholdings is highly prospective for calcrete hosted uranium deposits, either along the main Yeelirrie drainage channel or in tributaries to the main channel. (Refer to Figure 2) The calcrete hosted uranium mineralisation at BHPB’s Yeelirrie deposit constitutes the target model for the type of deposit for which exploration will be undertaken in the Yeelirrie property area.





Figure 2





Figure 3 Western Australian Uranium Deposits & Prospects

Western Australian Government Lifts Uranium Ban On 17 November 2008 the newly elected Western Australian Premier, Colin Barnett, announced Mining Leases would be granted for all minerals including Uranium, unlocking tens of millions of dollars in royalties revenue, employment opportunities and allowing the state to play a greater role in the fight against climate change. (Full Statement attached in Figure 4) BHP Billiton Reactivates Yeelirrie Uranium Deposit BHP Billiton announced on 18 November 2008 it has formally advised the West Australian Government of its decision to reactivate the Yeelirrie Uranium Project. In a letter to the State Minister for Mines and Petroleum, The Hon Norman Moore, BHP Billiton has indicated it will first undertake a drilling program to confirm the resource. BHP Billiton is assembling a Project team to be based in Perth to evaluate mining and processing options and to prepare an Environmental Impact Statement for the $9 billion Yeelirrie Uranium deposit.





Figure 4 A full copy of the Premiers statement follows: Mon 17 November, 2008 Liberal-National Government lifts uranium mining ban

Portfolio: Premier The Liberal-National Government has formally lifted the ban on uranium mining in Western Australia. Premier Colin Barnett said following cabinet approval today, mining leases would be granted for all minerals including uranium, unlocking tens of millions of dollars in royalties revenue, employment opportunities and allowing the State to play a greater role in the fight against climate change. Since the Gallop Labor Government imposed its administrative ban on uranium mining in June 2002, 1,475 mining leases had been granted but uranium had been excluded. “The ban was nonsensical,” Mr Barnett said. “WA prides itself as a world leader in mining, yet an outmoded and philosophical objection to uranium mining was put in place, denying the State a significant economic opportunity. “The sale of WA uranium to countries under the Nuclear Non-Proliferation Treaty for power generation will also allow WA to play a greater role in combating climate change. “Nuclear energy is the only large-scale and commercially viable option for producing electricity without at the same time producing massive amounts of greenhouse gases. “WA does not have a need for nuclear power, but many developing countries do. “If a serious effort is to be made to reduce greenhouse gas emissions and the heavy reliance on fossil fuels, we must allow the development of nuclear technologies.” Major uranium projects will almost certainly be subject to State Agreements Acts, meaning they will be dealt with by the Premier as the Minister for State Development. The mining of uranium will be subject to strict safety and security provisions including: � meeting all the necessary international safeguards in relation to the safe and peaceful use of uranium

resources

� that environmental approvals are obtained in relation to the mining of uranium and the transport of uranium oxide and

� ensuring a safe workplace for all employees involved in the mining and the transport of uranium oxide. The Premier said these provisions were fair, balanced and in accord with international standards. “WA is a State more than any other in the federation that has been built on our resources sector,” he said. “The reality is that major new resource developments in our State have been driven by vision, planning and hard work of the Brand and successive Court Liberal Governments. “Today, the Liberal-National Government continues that vision.” Mr Barnett was keen to address the scare tactics used by Labor during the election campaign which stated that allowing uranium mining would commit WA to receiving nuclear waste.





“At the time of the last Liberal government in 1999, the Nuclear Waste Storage (Prohibition) Act was passed through parliament which actually banned nuclear waste being dumped in WA," he said. The legislation states:

“The Bill prohibits the construction of a nuclear waste storage facility. Nuclear waste is defined as unwanted radioactive material derived from the operations of a nuclear reactor, nuclear weapons facility, nuclear reprocessing plant or isotope enrichment plant except for nuclear waste generated in Australia or material that has been used under licence for scientific, industrial or medical purposes in accordance with the provisions of the Radiation Safety Act 1975.”

Australia has 28 per cent of the world’s known uranium reserves (the largest of any nation) and produces 22 per cent of world uranium - second only to Canada (29 per cent). Uranium deposits in WA can be found from as far afield as the Kimberley region in the North-West to the Goldfields east of Kalgoorlie. “There are about 25 known uranium deposits, with Yeelirrie and Kintyre being the best known,” the Premier said. “These deposits may yield anywhere between 4,100 tonnes and 52,000 tonnes. However, we do not yet understand the true extent of these deposits.” Premier's office: 9222 9475 Field Survey A field survey was carried out by Blaze. The objective was to locate uranium bearing calcrete deposits within Blaze’s tenement holdings, outside of BHP Billiton’s mining leases. A GR-100 G/E portable gamma ray scintillometer was in constant operation mode during the entire survey. Important conclusions from this field work are listed below: • Calcrete was observed in the main Yeelirrie drainage channel and within the tributaries to the main channel.

There is potential for mineralised calcrete deposits to be found within the drainage systems of the Blaze tenements.

• A thin layer of sandy/ clayey soil will mask efficiently the radioactivity of an underlying source. • Areas of granite outcrop are not considered target areas. • The presence of an extensive sandy/ clayey cover severely impeded visual observation and exploration. • Future exploration will include the use of a tractor or 4WD mounted small rig to test areas targeted from

airborne radiometric data. Summary Blaze has several obvious opportunities to identify uranium mineralisation within its Yeelirrie Project. A thin layer of sandy/ clayey soil will mask efficiently the radioactivity of an underlying source. Ground inspection indicates that the calcrete is largely obscured by a veneer of sand, potentially limiting a uranium channel radiometric response. Within the extensive area of Blaze’s tenements, drilling has been sparse to non-existent. Interpreted tributary channels in the Yeelirrie catchment are veneered by deposits of aeolian sand that largely obscure the original geomorphology and any uranium channel radiometric response. It is concluded that there is potential for mineralised uranium calcrete deposits to be found in tributaries of the main Yeelirrie channel. Blaze is presently progressing with it inaugural drilling campaign at Yeelirrie for the 2009 field season.





The information in this announcement that relates to geophysical surveys has been reviewed by consultant Geophysicist Mr William Robertson, a Member of the Australian Society of Exploration Geophysicists, whose services are provided by Value Adding Geophysics. Mr Robertson has sufficient relevant experience in the styles of mineralisation and types of deposit under consideration, and in the activity he is undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the “Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (the JORC Code), and consents to the inclusion of the information in the form and context in which it appears. 4. Corporate On 15 December 2008 the company issued a further 25,000,000 shares at $0.10 each and 62,500,000 free attaching options exercisable at $0.05 each on or before 31 August 2010 for the final stage of the acquisition of Yeerlirrie Minerals Pty Ltd. This was ratified by the shareholders at the AGM on 27 November 2008. On 19 December 2008 the company issued 160,000,000 shares at $0.05 each and 64,000,000 free attaching options exercisable at $0.03 each on or before 30 January 2014 for additional working capital for the company. This was ratified by the shareholders at the AGM on 27 November 2008. 5. Changes in State of Affairs During the half-year ended 31 December 2008 there was no significant change in the entity’s state of affairs other than that referred to in the half-year financial statements or notes thereto. 6. Auditor’s Independence Declaration Section 307C of the Corporations Act 2001 requires our auditors, HLB Mann Judd, to provide the directors of the company with an Independence Declaration in relation to the review of the half-year financial report. This Independence Declaration is set out on page 8 and forms part of this directors’ report for the half-year ended 31 December 2008. This report is signed in accordance with a resolution of the Board of Directors, made pursuant to s306(3) of the Corporations Act 2001.



Auditor’s Independence Declaration As lead auditor for the review of the financial report of Blaze International Limited for the half year ended 31 December 2008, I declare that to the best of my knowledge and belief, there have been: a) no contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the

review; and b) no contraventions of any applicable code of professional conduct in relation to the review. This declaration is in respect of Blaze International Limited.

Perth, Western Australia W M CLARK 27 February 2009 Partner, HLB Mann Judd HLB Mann Judd (WA Partnership) ABN 22 193 232 714 Level 2 15 Rheola Street West Perth 6005 PO Box 263 West Perth 6872 Western Australia. Telephone +61 (08) 9481 0977. Fax +61 (08) 9481 3686. Email: [email protected]. Website: http://www.hlb.com.au Liability limited by a scheme approved under Professional Standards Legislation HLB Mann Judd (WA Partnership) is a member of

International and the HLB Mann Judd National Association of independent accounting firms

CONSOLIDATED INCOME STATEMENT FOR THE HALF YEAR ENDED 31 DECEMBER 2008


Consolidated

Notes

31 December 2008

$

31 December 2007

$ Revenue - 139,705 Depreciation & amortisation expense (7,778) (7,999) Employee benefits expense (79,201) (241,634) Exploration and evaluation expenditure - (67,404) Other expenses (201,774) (294,662) Profit/(Loss) before income tax expense (288,753) (471,994) Income tax expense - - Net Profit/(Loss) attributable to members of the parent entity

2 (288,753)

(471,994)

Basic earnings per share (cents per share) (0.08) (0.13) Diluted earnings per share have not been disclosed as the entity does not have on issue any potential ordinary shares which are dilutive

The accompanying notes form part of this financial report.

CONDENSED BALANCE SHEET AS AT 31 DECEMBER 2008


Consolidated

Notes

31 December 2008

$

30 June 2008

$ ASSETS Current Assets Cash and cash equivalents 780,326 319,358 Trade and other receivables 185,920 144,469 Other current assets 7,541 17,248 Total Current Assets 973,787 481,075 Non-Current Assets Property, Plant & Equipment 20,984 28,762 Deferred exploration expenditure 4,202,229 3,770,565 Total Non-Current Assets 4,223,213 3,799,327 Total Assets 5,197,000 4,280,402 LIABILITIES Current Liabilities Trade and other payables 89,833 78,613 Total Current Liabilities 89,833 78,613 Non-Current Liabilities Deferred tax liability 1,062,279 1,062,279 Total Non-Current Liabilities 1,062,279 1,062,279 Total Liabilities 1,152,112 1,140,892 Net Assets 4,044,888 3,139,510 EQUITY Issued Capital 3 29,791,309 28,725,309 Reserves 1,768,082 1,639,951 Accumulated Losses (27,514,503) (27,225,750) Total Equity 4,044,888 3,139,510 The accompanying notes form part of this financial report.

CONDENSED STATEMENT OF CHANGES IN EQUITY FOR THE HALF YEAR ENDED 31 DECEMBER 2008


Issued Unallotted Retained Reserves Total Capital Shares Earnings Equity $ $ $ $ $ Balance at 1 July 2007 28,725,309 - (26,594,463) 1,639,951 3,770,797 Shares issued during the half-year - - - - - Profit attributable to members of the parent entity

- -

(471,994)

-

(471,994)

Balance at 31 December 2007 28,725,309 - (27,066,457) 1,639,951 3,298,803 Balance at 1 July 2008 28,725,309 - (27,225,750) 1,639,951 3,139,510 Shares issued during the half-year 1,066,000 - - - 1,066,000 Options issued on acquisition - - - 128,131 128,131 Profit attributable to members of the parent entity

- -

(288,753)

-

(288,753)

Balance at 31 December 2008 29,791,309 - (27,514,503) 1,768,082 4,044,888 The accompanying notes form part of this financial report.

CONDENSED CASHFLOW STATEMENT FOR THE HALF YEAR ENDED 31 DECEMBER 2008


Consolidated 31 December

2008 $

31 December 2007

$ Cash flows from operating activities Receipts from customers - 191,840Payments to suppliers and employees (310,692) (468,991)Interest received - 18,086Interest paid - -Net cashflows used in operating activities (310,692) (259,065) Cashflows from investing activities Payment for property, plant and equipment - (23,586)Payment for exploration and evaluation (44,340) (75,109)Net cashflows used in investing activities (44,340) (98,695) Cashflows from financing activities Proceeds from issues of shares 816,000 -Payment of share issue costs - -Net cashflows from financing activities 816,000 - Net increase/(decrease) in cash held 460,968 (357,760)Cash at beginning of period 319,358 1,132,204Cash at end of period 780,326 774,444 The accompanying notes form part of this financial report.

NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2008


1. Statement of Significant Accounting Policies Statement of compliance The half-year consolidated financial statements are a general purpose financial report prepared in accordance with the requirements of the Corporations Act 2001, applicable accounting standards including AASB 134: Interim Financial Reporting, Accounting Interpretations and other authoritative pronouncements of the Australian Accounting Standards Board (‘AASB’). Compliance with AASB 134 ensures compliance with IAS 34 ‘Interim Financial Reporting’. The half-year report does not include full disclosures of the type normally included in an annual financial report. Therefore, it cannot be expected to provide as full an understanding of the financial performance, financial position and cash flows of the group as in the full financial report. It is recommended that this financial report be read in conjunction with the annual financial report for the year ended 30 June 2008 and any public announcements made by Blaze International Limited and its subsidiaries during the half-year in accordance with continuous disclosure requirements arising under the Corporations Act 2001 and the ASX Listing Rules. Basis of preparation The half-year report has been prepared on a historical cost basis, except for land and buildings, derivative financial instruments and available-for-sale financial assets which are measured at fair value. Cost is based on the fair value of the consideration given in exchange for assets. All amounts are presented in Australian dollars, unless otherwise noted. For the purpose of preparing the half-year report, the half-year has been treated as a discrete reporting period. The accounting policies and methods of computation adopted in the preparation of the half-year financial report are consistent with those adopted and disclosed in the Company’s 2008 annual financial report for the financial year ended 30 June 2008. In the half-year ended 31 December 2008, the group has reviewed all of the new and revised Standards and Interpretations issued by the AASB that are relevant to its operations and effective for annual reporting periods beginning on or after 1 July 2008. It has been determined by the group that there is no impact, material or otherwise, of the new and revised Standards and Interpretations on its business and, therefore, no change is necessary to Group accounting policies.

31 December

2008 31 December

2007 $ $ 2. Profit (Loss) for half-year Profit (Loss) for the half-year The following significant revenue and expense items are relevant in explaining the financial performance for the interim period:

Income Cancellation of unallotted shares and options - -

NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE HALF YEAR ENDED 31 DECEMBER 2008


31 December

2008 30 June

2008 $ $ 3. Issued Capital

Ordinary shares Issued and fully paid

550,759,056

365,759,056

Movements in ordinary fully paid shares Number $ Balance at 1 July 2008 28,725,309 28,725,309 Acquisition of Yeerlirrie Minerals Pty Ltd 250,000 - Placement 816,000 - Balance at 31 December 2008 29,791,309 28,725,309

4. Subsequent Events There are no matter or circumstances which have arisen since the end of the half-year which significantly affected or may significantly affect the operations of the consolidated entity, the results of those operations, or the state of affairs of the consolidated entity in subsequent financial periods. 5. Contingent Liabilities The Directors are not aware of any contingent liabilities as at 31 December 2008. There has been no change in liabilities since the last annual reporting date. 6. Segment Reporting During the half-year the consolidated entity operated in two business segments (for primary reporting) being: (i) computer software and technology development for entertainment, communication and internet applications; and (ii) mineral exploration; and principally one geographical segment (for secondary reporting) being Australia. Primary Reporting – Business Segments (31 December 2008)

Technology

$

Mineral Exploration

$

Corporate Unallocated

$

Total

$ Segment revenue - - - - Segment result (281,320) (1,020) - (282,340) Segment assets 192,048 4,209,161 795,791 5,197,000 Segment liabilities 51,729 18,162 1,082,221 1,152,112 Other segment information Net cash flow used in operating activities - - (310,692) (310,692) Net cash flow used in investing activities (44,340) - (44,340) Net cash flow used in financing activities - - 816,000 816,000





Primary Reporting – Business Segments (31 December 2007)

Technology

$

Mineral Exploration

$

Corporate Unallocated

$

Total

$ Segment revenue 112,395 - 27,310 139,705 Segment result (98,621) (68,424) (304,949) (471,994) Segment assets 35,672 3,686,767 875,306 4,597,745 Segment liabilities 113,976 26,719 96,968 236,663 Other segment information Net cash flow used in operating activities (19,176) - (239,889) (259,065) Net cash flow used in investing activities - (75,109) (23,586) (98,695)

DIRECTORS’ DECLARATION


The Directors of the company declare that: 1) The financial statements and notes set out on pages 9 to 15:

(i) give a true and fair view of the consolidated entity’s financial position as at 31 December 2008 and of its performance for the half-year then ended, and

(ii) comply with Accounting Standards AASB 134 “Interim Financial Reporting” and the Corporations

Regulations. 2) In the Directors’ opinion there are reasonable grounds to believe that the Company will be able to pay its debts

as and when they become due and payable. This declaration is signed in accordance with a resolution of the Board of Directors, made pursuant to s303(5) of the Corporations Act 2001.


INDEPENDENT AUDITOR’S REVIEW REPORT


To the members of Blaze International Limited Report on the Half-Year Financial Report We have reviewed the accompanying half-year financial report, which comprises the condensed balance sheet as at 31 December 2008, the condensed income statement, condensed statement of changes in equity, condensed cash flow statement and notes to the financial statements for the half-year ended on that date, and the directors’ declaration, of Blaze International Limited and the entities it controlled during the half-year ended 31 December 2008 (“consolidated entity”). Directors’ Responsibility for the Half-Year Financial Report The directors of the company are responsible for the preparation and fair presentation of the half-year financial report in accordance with Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Act 2001. This responsibility includes designing, implementing and maintaining internal controls relevant to the preparation and fair presentation of the half-year financial report that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. Auditor’s Responsibility Our responsibility is to express a conclusion on the half-year financial report based on our review. We conducted our review in accordance with Auditing Standard on Review Engagements ASRE 2410 Review of an Interim Financial Report Performed by the Independent Auditor of the Entity, in order to state whether, on the basis of the procedures described, we have become aware of any matter that makes us believe that the financial report is not in accordance with the Corporations Act 2001, including giving a true and fair view of the consolidated entity’s financial position as at 31 December 2008 and its performance for the half-year ended on that date; and complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001. As the auditor of Blaze International Limited, ASRE 2410 requires that we comply with the ethical requirements relevant to the audit of the annual financial report. A review of a half-year financial report consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. HLB Mann Judd (WA Partnership) ABN 22 193 232 714 Level 2 15 Rheola Street West Perth 6005 PO Box 263 West Perth 6872 Western Australia. Telephone +61 (08) 9481 0977. Fax +61 (08) 9481 3686. Email: [email protected]. Website: http://www.hlb.com.au Liability limited by a scheme approved under Professional Standards Legislation HLB Mann Judd (WA Partnership) is a member of

International and the HLB Mann Judd National Association of independent accounting firms

INDEPENDENT AUDITOR’S REVIEW REPORT (Continued)


Independence In conducting our review, we have complied with the independence requirements of the Corporations Act 2001. Conclusion Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the half year financial report of Blaze International Limited is not in accordance with the Corporations Act 2001, including: (a) giving a true and fair view of the consolidated entity’s financial position at 31 December 2008 and of its

performance for the half-year ended on that date; and (b) complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations

2001.

HLB MANN JUDD Chartered Accountants

Perth, Western Australia W M CLARK 27 February 2009 Partner

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