U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

(Mark One)
[X]          QUARTERLY REPORT PURSUANT SECTION 13 OR 15(D) OF THE
                       SECURITIES EXCHANGE ACT OF 1934
         For the quarterly period ended: December 31, 1999

[ ]          TRANSITION REPORT PURSUANT SECTION 13 OF 15(D) OF THE
                       SECURITIES EXCHANGE ACT OF 1934
         For the transition period from __________________ to ________________

                         Commission file number 0-27953

                           GOLDEN RIVER RESOURCES INC.
        (Exact name of small business issuer as specified in its charter)

          NEVADA                                    98-0187538
(State or other jurisdiction of                    (IRS Employer
 incorporation or organization)                  Identification No.)

         2420 PANDOSY STREET, KELOWNA, BRITISH COLUMBIA, CANADA V1Y 1T8
                    (Address of principal executive offices)

                                 (250) 717-1049
                           (Issuer's telephone number)

                                 NOT APPLICABLE
        (Former name, former address and former fiscal year, if changed
                               since last report)

     Check  whether  the issuer (1) filed all  reports  required  to be filed by
Section 13 or 15(d) of the  Exchange  Act during the past 12 months (or for such
shorter period that the  registrant was required to file such reports),  and (2)
has been subject to such filing requirements for the past 90 days. Yes No X

     State the number of shares  outstanding of each of the issuer's  classes of
common equity, as of the last practicable date:

            17,005,072 SHARES OF COMMON STOCK, $.001 PAR VALUE, AS OF
                                DECEMBER 31, 1999

      Transitional Small Business Disclosure Format (check one); Yes No X


                                        1
<PAGE>
                  Consolidated Financial Statements of

                  GOLDEN RIVER RESOURCES INC.

                  (An Exploration Stage Enterprise)

                  Six month period ended, December 31, 1999
                  (Unaudited - Prepared by Management)











                                        2

<PAGE>

GOLDEN RIVER RESOURCES INC.
(An Exploration Stage Enterprise)
Consolidated Balance Sheet

$ United States

December 31, 1999 and 1998
(Unaudited - Prepared by Management)
_______________________________________________________________________________
                                                    1999                 1998
_______________________________________________________________________________
ASSETS
Current Assets
    Cash                                        $  8,561        $      90,757
    Prepaid expense                                4,688                    -
_______________________________________________________________________________
                                                  13,249               90,757

Capital assets, net of amortization                9,915                    -

Mineral properties                               348,396              543,624
_______________________________________________________________________________
                                               $ 371,560        $     634,381
_______________________________________________________________________________
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
    Accounts payable and accrued liabilities   $ 140,570        $      13,536
    Due to shareholders                           22,228               97,473
    Shares to be issued for cash                       -              498,832
_______________________________________________________________________________
                                                 162,798              609,841

Long term debt (note 2)                          100,233                    -

Stockholders' Equity
   Capital stock                               1,672,475              469,994
   Deficit accumulated during the
     exploration stage                        (1,568,914)            (462,677)
   Accumulated other comprehensive income          4,968               17,223
_______________________________________________________________________________
                                                 108,529               24,540
_______________________________________________________________________________
                                               $ 371,560        $     634,381
_______________________________________________________________________________
These financial statements include all adjustments necessary so as to not make
them misleading.

On behalf of the Board:

   "Roger D. Watts
__________________________ Director

   "R. Bruce Manery:
__________________________ Director

                                       3
<PAGE>

GOLDEN RIVER RESOURCES INC.
(An Exploration Stage Enterprise)
Consolidated Statement of Loss

$ United States

Six month  period  ended  December  31, 1999 and 1998
(Unaudited  - Prepared by Management)
<TABLE>
<CAPTION>
_______________________________________________________________________________________________________________________
                                                                From Inception
                                                                (June 13, 1997)
                                                           to December 31, 1999               1999             1998
_______________________________________________________________________________________________________________________
<S>                                                               <C>                  <C>                <C>
Expenses
    Amortization                                                  $       1,794        $       562        $        -
    Consulting fees                                                      18,886             16,065            38,268
    Exploration of mineral properties                                   358,379             42,406            78,974
    General and administrative                                           84,370             21,978            14,507
    Management fees                                                     125,308                  -            12,593
    Option payments to acquire mineral
       Properties written off                                           534,214                  -                 -
    Professional fees                                                   228,836             44,465            28,650
    Travel and promotion                                                217,127             28,355            34,916
_______________________________________________________________________________________________________________________
                                                                    ( 1,568,914)          (153,831)         (207,908)
_______________________________________________________________________________________________________________________

Loss                                                               $ (1,568,914)       $  (153,831)       $ (207,908)
_______________________________________________________________________________________________________________________

Weighted average number of shares                                     6,918,865         15,376,079         3,469,808

Earnings per share                                                 $      (0.23)       $     (0.01)       $    (0.06)
_______________________________________________________________________________________________________________________
</TABLE>

These financial  statements include all adjustments  necessary so as not to make
them misleading.

                                        4

<PAGE>

GOLDEN RIVER RESOURCES INC.
(An Exploration Stage Enterprise)
Consolidated Statement of Stockholders' Equity and Comprehensive Income

$ United States

Six month period ended December 31, 1999
(Unaudited - Prepared by Management)
<TABLE>
<CAPTION>
_________________________________________________________________________________________________________________________________
                                                                               Deficit
                                                                           Accumulated       Accumulated
                                                                            During the             Other               Total
                                                  CAPITAL STOCK            Exploration     Comprehensive        Stockholders
                                              Shares        Income               Stage            Income              Equity
_________________________________________________________________________________________________________________________________
<S>                                         <C>           <C>              <C>                <C>               <C>

Golden River Balance, June 30, 1999         14,822,872    $ 1,567,475      $ (1,415,083)      $     5043        $    157,435

Loss                                            -               -              (153,831)              -             (153,831)

Foreign currency translation adjustment         -               -                    -               (75)                (75)

Issued for services                            750,000        193,220                -                -              193,220

Share issue costs                            1,182,200       (118,220)               -                -             (118,220)

Shares issued pursuant to Mineral Property
agreement @ $.12 per share                     250,000         30,000                -                -               30,000
_________________________________________________________________________________________________________________________________

Balance December 31, 1999
   (Unaudited)                              17,005,072    $ 1,672,475      $ (1,568,914)      $     4968        $    108,529
_________________________________________________________________________________________________________________________________
</TABLE>

These financial  statements include all adjustments  necessary so as to not make
them misleading.

                                        5



<PAGE>




GOLDEN RIVER RESOURCES INC.
(An Exploration Stage Enterprise)
Consolidated Statement of Cash Flows

$ United States

Six month period ended December 31, 1999 and 1998
(Unaudited - Prepared by Management

<TABLE>
<CAPTION>
_______________________________________________________________________________________________________
                                                  From Inception
                                                 (June 13, 1997)
                                            to December 31, 1999             1999                 1998
_______________________________________________________________________________________________________
<S>                                               <C>                  <C>                  <C>

Loss                                               $ (1,568,914)       $ (153,831)          $ (207,908)

Cash flows from operating activities:
  Items not involving cash:
    Amortization                                          1,794               562                    -
    Option payments to acquire mineral
      Properties written off                            534,214                 -                    -
    Accounts payable and accrued liabilities             80,242            (5,999)             (23,244)
    Other changes in non-cash operating
      Working capital                                    17,541            11,571               92,472
________________________________________________________________________________________________________
                                                       (935,123)         (147,697)            (138,680)
Cash flows from investing activities:
  Purchase of capital assets                            (11,748)           (1,049)                   -
  Option payments on mineral properties                (822,610)                -             (297,602)
________________________________________________________________________________________________________
                                                       (834,358)           (1,049)            (297,602)

Cash flows from financing activities:
  Proceeds from long term debt                          100,233           100,233                    -
  Proceeds from share subscriptions                           -                 -              498,832
  Issuance of capital stock                             903,971                 -                6,614
  Proceeds from realization of assets aquired from
    the business combination with Golden River          769,589                 -                    -
________________________________________________________________________________________________________
                                                      1,773,793           100,233              505,446

Foreign currency translation adjustment                   4,249               (75)               8,795
________________________________________________________________________________________________________
Increase (decrease) in cash                               8,561           (48,588)              77,959

Cash position, beginning of period                            -            57,149               12,798
________________________________________________________________________________________________________
Cash position, end of period                       $      8,561        $    8,561           $   90,757
________________________________________________________________________________________________________
</TABLE>

These financial  statements include all adjustments  necessary so as to not make
them misleading.

                                        6

<PAGE>
GOLDEN RIVER RESOURCES INC.
(An Exploration Stage Enterprise)
Notes to Consolidated Financial Statements

$ United States

Six month period ended December 31, 1999 and 1998
(Unaudited - Prepared by Management)
________________________________________________________________________________

1.   SIGNIFICANT ACCOUNTING POLICIES:

A)   TRANSLATION OF FINANCIAL STATEMENTS

     The Company's  subsidiary,  Rob Roy Resources Ltd.,  operates in Canada and
     its operation are conducted in Canadian currency.

     These  consolidated  statements are presented in United States currency for
     the convenience of readers accustomed to United States Currency. The method
     of translation applied is as follows:

     i)   Monetary assets and liabilities are translated at the rate of exchange
          in effect at the balance sheet date, being US $1.00 per Cdn $1.4721.

     ii)  Non-monetary  assets and  liabilities  are  translated  at the rate of
          exchange in effect at the date transaction occurred.

     iii) Revenues and expenses are translated at the exchange rate in effect at
          the transaction date.

     iv)  The net  adjustment  arising  from the  translation  is  recorded as a
          separate component of stockholders'  equity called  "Accumulated other
          comprehensive income".

B)   LOSS PER SHARE

     Loss per share has been  calculated  using the weighted  average  number of
     common shares  outstanding  during the period. The effect of the contingent
     stock issues pursuant to the La Mexicana  agreement,  and the stock options
     issued during the period (note 3) have not been included in the computation
     because to do so would be anti-dilutive.

2.   LONG TERM DEBT:

     The long term debt is demand in nature,  does not bear  interest and has no
     fixed terms of repayment.


3.   STOCK OPTION PLAN:

     During 1999,  the Company  adopted a stock  option plan whereby  directors,
     officiers  and employees of the Company were granted the right to subscribe
     for up to 10% of the issued and outstanding shares of the Company at prices
     to be fixed at the time the options are granted. Options issued pursuant to
     the Plan have a vesting period of three months,  and expire five years from
     the date of issue. The Company applies APB Opinion NO. 25 in accounting for
     its stock option plan and, accordingly,  no compensation cost is recognized
     for its stock options in these financial statements.

       During the period ended December 31, 1999,  the Company issued  1,450,000
       common share stock options. These stock options have an exercise price of
       $0.10 per  share,  a vesting  date of  December  23,  1999 and  expire on
       September 23, 2004.

                                        7

<PAGE>

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

Effective  March 10, 1999, the Company  completed the acquisition of 100% of the
outstanding  common shares of Rob Roy Resources Inc. ("Rob Roy"). As the Rob Roy
shareholders  obtained  effective control of the Company through the exchange of
their  shares of Rob Roy for shares of the  Company,  the  acquisition  has been
accounted  for  in  these  consolidated   financial   statements  as  a  reverse
acquisition.  Consequently,  the consolidated statements of loss and deficit and
changes in cash  flows  reflect  the  results  from  operations  and  changes in
financial position of Rob Roy, the legal subsidiary, for the year ended June 30,
1999  combined  with those of the Company,  the legal  parent,  from the date of
acquisition on March 10, 1999, in accordance with generally accepted  accounting
principles for reverse  acquisitions.  In addition,  the comparative figures are
those of Rob Roy, the legal subsidiary.

The Company's  fiscal year end is June 30. The following is a summary of certain
selected  financial  information for the six months ended December 31, 1999, the
fiscal year ended June 30, 1999,  and the period from its date of  incorporation
to June 30, 1998.  Reference should be made to the financial statements attached
to this  registration  statement to put the  following  summary in context.  All
dollar figures referred to in this section relating to the Company are listed in
US dollars unless otherwise noted.

<TABLE>
<CAPTION>
                                                                                                 INCEPTION (JUNE 13,
                                     SIX MONTHS ENDED                  YEAR ENDED                 1997) TO JUNE 30,
                                     DECEMBER 31, 1999               JUNE 30, 1999                1998 (UNAUDITED)
<S>                                 <C>                           <C>                            <C>
------------------------------ ----------------------------- ------------------------------ -----------------------------
Revenues                                    --                             --                            --
------------------------------ ----------------------------- ------------------------------ -----------------------------
(Loss) from
continuing operations               $        (153,831)            $      (1,160,315)             $        (254,769)
------------------------------ ----------------------------- ------------------------------ -----------------------------
(Loss) per common
share                               $           (0.01)            $           (0.15)             $           (0.13)
------------------------------ ----------------------------- ------------------------------ -----------------------------
</TABLE>

<TABLE>
<CAPTION>
                                     DECEMBER 31, 1999               JUNE 30, 1999                  JUNE 30, 1998
------------------------------ ----------------------------- ------------------------------ -----------------------------
<S>                                 <C>                           <C>                            <C>
Working capital
(deficiency)                        $        (149,549)            $        (170,390)             $         (28,983)
------------------------------ ----------------------------- ------------------------------ -----------------------------
Total assets                        $         371,560             $         391,193              $         258,820
------------------------------ ----------------------------- ------------------------------ -----------------------------
Long-term obligations               $         100,233                      --                            --
------------------------------ ----------------------------- ------------------------------ -----------------------------
</TABLE>

RESULTS OF OPERATIONS

The Company's  level of activity was lower during the six months ended  December
31, 1999, as compared to the previous period. The Company focused its efforts on
attaining  reporting issuer status during the six months December 31, 1999. Such
status is  necessary in order to have the  Company's  common stock quoted on the
OTC  Bulletin  Board.  Little  exploration  work was  conducted  on the Mexicana
property.


                                        8

<PAGE>



Accordingly,  exploration  expenses  decreased by 46% from those of the previous
period,  while  general  and  administrative   expenses  and  professional  fees
increased by 51% and 55%, respectively.

Due to the  lack  of any  revenues,  and the  cumulative  losses  of  $1,415,084
incurred through June 30, 1999, and $1,568,914  through December 31, 1999, there
is a  substantial  doubt  about the  Company's  ability to  continue  as a going
concern,  as noted in the report of the  independent  auditors on the  Company's
financial  statements.  The Company  requires  additional  financing to continue
operations and to undertake the exploration  programs  described below. If it is
unable to obtain  such  financing,  it may be unable to continue  operations  or
engage in the exploration programs.

FINANCIAL CONDITION

Since inception,  the Company's capital resources have been limited. The Company
has had to rely upon the sale of equity securities for cash required to fund the
administration of the Company. From its inception through December 31, 1999, the
Company has raised $903,971 from the sale of its Common Stock. Since the Company
does not expect to generate  any  revenues in the near  future,  it will have to
continue to rely upon sales of equity and debt  securities to raise capital.  It
follows that there can be no assurance that  financing,  whether debt or equity,
will always be available to the Company in the amount required at any particular
time or for any particular  period or, if available,  that it can be obtained on
terms satisfactory to the Company.

At December 31, 1999, the Company had a working capital  deficiency of $149,549,
as compared to a deficiency of $170,390 at June 30, 1999.

PLAN OF OPERATION

In  addition  to option  payments  of $5,000  due  toward  the  January  1, 2000
installment , the Company is required to invest a total of $300,000 on or before
June 12,  2000 on work  commitments.  The  Company  plans to  conduct  a Phase 1
regional  geochemical  survey  over  the  La  Mexicana  property  at a  cost  of
approximately $19,000. The Phase 1 program will be followed by a Phase 2 program
at a cost of  approximately  $77,000.  The Company does not  presently  have the
funds available for either the Phase 1 or Phase 2 program and will have to raise
additional  funds by way of debt or equity in order to finance same. It does not
have any arrangements for such funding at present. If the Company were unable to
raise the funds  necessary  to satisfy the option  payment  and work  commitment
requirements,  the  Company  would seek an  extension  from the  optionor of the
Mexicana I property.

In addition to the property  obligations  described in the preceding  paragraph,
the Company has only normal trade obligations. The officers and directors of the
Company and the persons to whom the long-term debt of $100,233 is owed, have not
given the Company a fixed date for repayment.

As of December  31,  1999,  the Company had  approximately  $8,500 cash on hand,
which will be  sufficient  to  satisfy  its cash  requirements  for the next six
months of minimal operations. The

                                        9

<PAGE>



Company would be able to maintain an office,  but would not be able to undertake
the exploration programs on the property,  make any option payments,  or service
any  existing  debt.  The  Company  does not  intend to hire any more  full-time
employees  over the next 12  months.  Subject to the  availability  of funds the
Company will hire  additional  employees and consultants on a part-time basis in
order to carry out its proposed  work  programs.  The Company does not intend to
make any purchases of plant or equipment over the next 12 months.

If the  Transmeridian  transaction  should be  completed,  the Company  would be
required to arrange for a private  placement in the minimum amount of $2,000,000
to cover immediate working capital and project costs. Since the Company has just
started  its due  diligence  work on  Transmeridian,  management  does  not know
whether  the  acquisition  will be  consummated  or when  closing  would  occur.
Accordingly,  the  Company  has not made any plans  with  respect  to a proposed
private placement.

YEAR 2000 READINESS DISCLOSURE

The Year 2000 issue refers to the  inability  of computer and other  information
technology  systems to properly  process  date and time  information  due to the
programming  of a two digit year rather than a four digit year. The risk is that
a system will  recognize  the digits "00" as 1900 rather than the year 2000,  or
that the system may not recognize "00" as a year at all. As a result,  computers
and embedded  processing systems may be at risk of malfunctioning,  particularly
during the transition from 1999 to 2000.

The Company has  completed  its  assessment of the impact of Year 2000 issues on
its  business  operations.  The Year 2000 issue may  affect the  Company in four
principal  areas  including:  (1) computer  systems such as personal  computers,
operating  systems,   business  software,  and  application  software  including
accounting systems,  technical support software and administration software; (2)
field assets (primarily embedded systems) such as programmable logic controllers
and equipment control panels; (3) other systems such as telephones, photocopiers
and facsimile machines; and (4) third-party suppliers and service providers such
as banks and insurance companies.

To date,  the Company  has  implemented  and tested its  computer  software  and
hardware  for Year 2000  compliance  and has  concluded  that its  hardware  and
software is Year 2000 compliant.

The  Company's  Year 2000  program is designed to reduce the  Company's  risk of
material  losses due to the Year 2000 issue.  Management does not anticipate any
material adverse effect from the Year 2000 issue; however, the Company cannot be
certain that it will not suffer material adverse effects in the event that third
parties  upon which the Company is  dependent  are unable to resolve  their Year
2000 issues.



                                       10

<PAGE>



                           PART II - OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

         Not Applicable.

ITEM 2.  CHANGES IN SECURITIES

         In November 1999, the Company issued  1,182,200  shares of Common Stock
         to 67849  Capital Ltd. as payment for services  valued at $118,220.  In
         addition,  the Company issued 250,000 shares to Ing.  Cuitlahuac Rangel
         Alcaraz valued at $30,000, pursuant to the obligations set forth in the
         amended  Option  Agreement  on the La  Mexicana  property.  The Company
         relied upon the exemption from  registration  contained in Section 4(2)
         of the  Securities  Act of  1933.  No  underwriters  were  used  and no
         underwriting commissions were paid.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

         Not Applicable.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

         Not Applicable.

ITEM 5.  OTHER INFORMATION

         Not Applicable.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

         A)       EXHIBITS


 REGULATION                                                          CONSECUTIVE
S-B NUMBER                  EXHIBIT                                  PAGE NUMBER

    2.1         Offer to Purchase (1)                                    N/A
    3.1         Articles of Incorporation (1)                            N/A
    3.2         Bylaws (1)                                               N/A
   10.1         Mexicana I Agreement dated as of February 12, 1998 (1)   N/A
   10.2         La Lajita Agreement dated as of February 12, 1998 (1)    N/A
   10.3         1999 Stock Option Plan (1)                               N/A


                                       11

<PAGE>



 REGULATION                                                          CONSECUTIVE
S-B NUMBER                  EXHIBIT                                  PAGE NUMBER

   10.4         Agreement with Transmeridian Exploration Inc., as
                amended (1)                                              N/A
   10.5         Letter of Intent with OREX Gold Mines Corporation (1)    N/A
   10.6         Mexicana I Agreement dated as of November 12, 1999 (1)   N/A
    27          Financial Data Schedule

-----------------------
1)    Incorporated by reference to the exhibits filed with the Registration
      Statement on Form 10-SB, File No. 0-27953

         B) REPORTS ON FORM 8-K:

         None.


                                       12

<PAGE>



                                   SIGNATURES

         In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                                  GOLDEN RIVER RESOURCES INC.
                                  (Registrant)


Date:    February 17, 2000        By: /S/ ROBERT BRUCE MANERY
                                     ---------------------------------------
                                      Robert Bruce Manery, Secretary
                                      (Principal financial officer)



                                       13

<PAGE>



                                   Exhibit 27

                             Financial Data Schedule

                                       14

<PAGE>