Ann: Annual Report to shareholders, page-3

The directors have prepared a cash flow forecast, which indicates that the Consolidated Entity will have sufficient cash flows to meet all commitments and working capital requirements for the 12 month period from the date of signing this financial report. The Directors believe it is appropriate to prepare these accounts on a going concern basis because:
• Ferrotungsten production continues to increase through the Vietnam plant;
• The Directors have an appropriate plan to raise additional funds as and when they are required. In light of the consolidated entity’s current exploration projects and status of the Vietnam plant, the Directors believe that the additional capital required can be raised in the market; and
• The Directors have an appropriate plan to contain certain operating and exploration expenditure if appropriate funding is unavailable.