Hi all, Just looking for some feedback as I'm relatively new to...

Hi all,
Just looking for some feedback as I'm relatively new to the world of investing, trying to make sense of Annual reports etc.

Excerpted from the Annual Report (pg 36);

'The Company has incurred a net loss after tax of $730,506 (2015: $946,533) for the full year and net cash outflows from  operating activities of $251,015 (2015: $196,523).'  

'The above matters give rise to a material uncertainty which may cast significant doubt over the Company’s ability to continue  as a going concern.'

Is this just Legalese/financial speak for 'Investing is inherently risky, and early losses are normal, especially in developing micro-cap gold miners/producers, DYOR', and a standard inclusion when a net loss has occurred  ?

Secondly;

'The Directors have prepared the Financial Statements on the Going Concern basis as the Company
intends to commence goldmining from its Mt. Porter gold mining project in the 2017 financial year. The
Company has secured a gold loan facility of $6million (the “Facility”) to fund the necessary mining
activities until the project becomes cash positive.'

'The Company’s cashflow projection however indicates that it will need to raise funding of
an additional $300,000 before mining activities commence. '

'Directors are confident that this amount can be raised within the required time as the Company has
successfully raised funds through share issues and debt funding on a number of occasions
including over $1 million during and since the  end of the financial year.'

My questions being;
1) now that mining and subsequent production/first gold pour/actual revenue has been delayed to possibly mid 2017(being conservative), considering director's fees, costs attached to proposed MMP lodgement etc. for the other Mt. Porter tenements, interest payments on previously taken loans and other operating costs, do we think they will need to raise more than $300,000 in capital, with only ~$91000 cash at bank at the time of the annual report?

2) Will raising this capital be undertaken in the same manner as previous cap raisings - in that they were offered to new holders ? And if this is the plan, how easy will that be, given the poor current sentiment surrounding gold, without offering it at a discount to current SP ?

Or would they possibly offer to current holders in order to keep the register tight and reward holders?

(apologies as I know quite possibly no one can answer these questions besides the directors themselves, but just verbalising my thought process regardless, in case anyone with more experience can shed some light)

3) Do we know roughly what the current proposed AISC would be, given the re-negotiated Toll treatment agreement ?  Given the now possible eventuality that AUD gold either hovers around 1600 if further drops buffered by AUD weakness or continues its decline in the short term, and the fact that I thought I read somewhere that the original profit projections were based on a $1750 AUD gold price, (could be way off though), is there any chance that the decision to bring these mines into production will be brought into question without improvement in the gold price or they have a fairly wide margin in which to still mine them profitably ie circa $4.5M at AUD gold price of $1550/Oz ?

Lastly;

'With the additional funding, the Facility and forecast gold production from its project, the Company is forecast to remain cash  positive at least until September 2017'

How would it be fair to predict this projection will be changed for the better or worse based on the aforementioned recent developments ?

I apologise for the essay and I hope even a few of you bother to read it, despite the clear evidence of my lack of experience as I'm really just trying to further my understanding of how this all works.  Happy to hear anywhere I've unfairly represented the facts or just flat-out gotten them wrong, just looking for other's opinions of the near-term prospects of the company!

cheers

*disclosure; i was up until recently, a holder but other losses decreased my risk-aversion and i hit the eject button on one of the days the gold price got a smashing instantly regretted giving in to fear and now just hoping for a reason to quell my nerves and buy back in.