Ann: Half Yearly Report and Accounts, page-2

Note 1 (e)
The directors reasonably expect that the Company will be able to raise sufficient capital to fund the Group’s exploration and working capital requirements and that the Group will be able to settle debts as and when they become due and payable. On this basis, the Directors are therefore of the opinion that the use of the going concern basis is appropriate in the circumstances.Should the Company be unable to raise the required funding, there is a material uncertainty that may cast significant doubt on whether the company will be able to continue as a going concern and therefore, whether it will be able to realise its assets and extinguish its liabilities in the normal course of business and at the amounts stated in the financial report.

Report and review
Material Uncertainty Related to Going ConcernWe draw attention to Note 1 in the half-year financial report, which indicates that theconsolidated entity incurred a net loss of $1,831,316 and incurred net operating cashoutflows of $1,635,090 during the half year ended 31 December 2018. As stated in Note 1,these events or conditions, along with other matters as set forth in Note 1 indicate that amaterial uncertainty exists that may cast significant doubt on the consolidated entity’s abilityto continue as a going concern. Our opinion is not modified in respect of this matter.