monarch a strong year, page-36

Also from 6.5

Funding
The future capital requirements of the Company will depend on many factors. The Company believes its cash,
receivables and net proceeds of this Offer are adequate to fund continued exploration and resource development
of the Company's Davyhurst and Mt Ida projects. Operations are continuing to ramp up and there can be no
guarantee future performance will meet the designed schedule.
The Company is also seeking to raise further capital to satisfy the conditions precedent of the acquisition of the Mt
Magnet Gold Project. In relation to any additional funding required by the Company, including the raising of funds
relating to the acquisition of the Mt Magnet Gold Project, there can be no assurance that additional funds or
financing will be available on acceptable terms, or at all. An inability to obtain additional finance if required would
have a material adverse affect on the Company's business and its financial condition and performance and may
impact on the Company's ability to complete the acquisition of the Mt Magnet Gold Project.