We all agree there is uncertainty, that is why the MC is only...

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vertigo

11,416 Posts.

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16/03/17

20:27

Post #: 23412960
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Originally posted by magix66 ↑

Emphasis of Matter - Morning Star Gold NL Transaction

We draw attention to Note 9 to the half-year financial report, which describes the uncertainty surrounding the outstanding balance of $2,000,000 as at 28 February 2017 payable to Chillee Limited, pertaining to the consolidated entity's acquisition of Morning star Gold NL our opinion Is not modified in respect of this matter.

Material uncertainty related to going concern

Without qualifying our conclusion. we draw attention to Note 1 to the half-year financial report. which indicates that the consolidated entity incurred a net loss of $5.365.183 and had net cash outflows from operating activities of $1,405,889 and investing activities or $1,116,535 during the nan-year ended 31 December 2016. As at that date, the consolidated entity had net current liabilities of S1 ,853,249. These conditions. along with other matters as set forth in Note 1. indicate the existence of a material uncertainty which may cast significant doubt about the consolidated entity's ability to continue as a going concern and therefore. The consolidated entity may be unable to realise its assets and discharge its liabilities in the normal course or business. Our opinion Is not modified in respect to this matter.

Even the Auditor agrees...

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We all agree there is uncertainty, that is why the MC is only $8m. No one is arguing with you about that.

Remember with risk there is reward. That is the stock market. Stay tuned

MNM Price at posting: 0.8¢ Sentiment: Buy Disclosure: Held
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