Hi fellow shareholders : there was an E&Y report to creditors on...

Hi fellow shareholders : there was an E&Y report to creditors on 3 May 2019 (see attached PDF file). The main points are as follows:

Since the issue of the Report, we have received two further proposals for a Deed of CompanyArrangement (“DOCA”). These further DOCA proposals do not change our recommendation in theReport, being that it is our opinion that it is in creditors’ interests to resolve that the Company andTunkillia Gold Pty Ltd (Administrators Appointed (Receivers and Managers Appointed) (“Tunkillia”)execute the DOCA referred to in the Report as “DOCA 1”.As advised in the Report, DOCA 1 may be incapable of acceptance at the second meeting due tothe potential sale of Tunkillia’s assets by the Receivers and Managers. Should this be the case, andon the basis that these additional DOCA proposals require certain items to be further clarified inorder for the Administrators to consider them, we propose to adjourn the meeting to enable sufficienttime to assess the remaining three DOCA proposals to provide creditors with sufficient information toenable them to make an informed decision in regards to the future of the Company.We reiterate our position that our recommendation in the Report has not changed, in that werecommend creditors resolve that the Company and Tunkillia execute DOCA 1.We are continuing to receive updates to the various DOCA proposals and to engage in discussions withinterested parties and the secured creditor. We will keep you informed of any material developments thatimpact our reporting or recommendation to creditors.

E&Y WPG 3May2019.pdf