P71 2 C如下:

(c) Going concern

This report has been prepared on a going concern basis, which contemplates the continuity of normal business activity

and the realisation of assets and settlement of liabilities in the normal course of business.

The company has incurred a loss after tax for the year of $4,803,859 (2016: $4,082,094) and experienced net cash

outflows from operating activities of $1,905,843 (2016: $842,668). As at 30 June 2017 and 28 September 2017, the

Company had cash and restricted cash totalling to $6,616,793 and $9,082,430 respectively. The increase in the cash

and restricted cash balance reflects the additional instalment payment of $4,375,000 received under the lithium

concentrate offtake agreement with Burwill Holdings Ltd dated April 2017.

The Company’s cash flow forecast reflect that the Company will need to raise additional funds during the quarter

ending 31 December 2017 to enable it to meet its committed and planned capital expenditure in the Bald Hill

project and for on-going working capital requirements. The Directors are currently reviewing a range of financing

options which may include further issue of new equity or obtaining new borrowings. The Directors have reviewed

the company’s financial position and are satisfied that based on the ongoing discussions with relevant parties, they

will be successful in securing additional funds through debt or equity issues and thus it is appropriate to prepare the

financial statements on a going concern basis.

Should the company not achieve the matters set out above, there is a significant uncertainty whether the company

will continue as a going concern and therefore whether it will realise its assets and extinguish its liabilities in the

normal course of business and at the amounts stated in the financial report.

The financial report does not contain any adjustments relating to the recoverability and classification of recorded

assets or to the amounts or classification of recorde