The language below from the financial report seems significant, in particular the use of "material uncertainty" and "significant doubt"
b) Going concern
For the year ended 30 June 2019 the Group has incurred a net loss of AUD$4,115,832 (2018: AUD$4,333,460), experienced net cash outflows from operations of AUD$686,764 (2018: AUD$2,094,623) and net cash outflows from investing activities of AUD$778,530 (2018: AUD$3,574,963). As at 30 June 2019 the cash balance is $74,418 (2018: $1,526,761). The Directors have reviewed the cash flow requirements in the next 12 months and recognise that the ability of the Group to continue as a going concern is dependent on securing additional funding through equity to continue to fund its exploration activities.These conditions indicate a material uncertainty that may cast a significant doubt about the Group’s ability to continue as a going concern and, therefore, that it may be unable to realise its assets and discharge its liabilities in the normal course of business.
MTC Price at posting:
1.5¢ Sentiment: Hold Disclosure: Held
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