“For the year ended 30 June 2018, the Company has incurred a net...

“For the year ended 30 June 2018, the Company has incurred a net loss of $5,322,775 (2017: net loss of$1,167,932) and has net cash outflows from operating and investing activities of $17,668,280 (2017: $4,590,186).The ability of the Company to continue as a going concern is dependent on the Company’s ability tosuccessfully raise the necessary funding through equity to continue to fund its operational and exploration activities. As disclosed within note 14 and note 22, the Company has significantcommitments to complete the acquisition of the Flemington Cobalt-Scandium-Nickel Project, andcomplete upcoming drilling programs to enable the successful exploration and subsequent exploitationof the Company’s tenements.These conditions indicate a material uncertainty that may cast significant doubt about the Company’sability to continue as a going concern and, therefore, that it may be unable to realise its assets anddischarge its liabilities in the normal course of business.The financial statements have been prepared on the basis that the Company is a going concern, which contemplates the continuity of normal business activity, realisation of assets and settlement of liabilitiesin the normal course of business. The Directors believe the Company will be successful in raising thenecessary funding through equity to enable successful exploration and subsequent exploitation of theCompany’s tenements. The rationale for this is as follows: The Company has entered into a Convertible Securities Subscription Deed with Bergen for up to$12 million as set out in Section 8 of the Directors’ Report; The Company has issued options to SK Innovation described in Note 19 which if exercised willraise in excess of $80 million; The Company has a history of raising capital as required and its shares are highly liquid; The Company can adjust its business plans and thereby adjust its capital requirements to suit its cash in-flow as required.Should the Company not be able to continue as a going concern, it may be required to realise its assetsand discharge its liabilities other than in the ordinary course of business, and at amounts that differ fromthose stated in the financial statements and that the financial report does not include any adjustmentsrelating to the recoverability and classification of recorded asset amounts or liabilities that might benecessary should the Group not continue as a going concern.”

@vintage Since you are to lazy to go and investigate what I’m saying vintage, here is a direct extract from their financials related to going concern. Auditors would have asked them to have enough to continue to operate for the foreseeable future, not the next month or two but for the next year. So yes to satisfy this principle and get an unmodofied opinion, they needed sufficient funding and fast. Auditors will need to be satisfied knowing if the funding from the banks don’t come through, that they can continue to operate and have enough cash. Stop over thinking it and buy into this stock already so you can be apart of something great instead of sitting on the sideline