HALF YEARLY ACCOUNTS

As per below extract from Auditors report, seems all our money is going to pay the directors this year and then close...
Got burnt and lesson learnt!!!!

Going concern:For the period ended 31 December 2018 the consolidated entity made a loss of $632,281 (December 2017 : $2,439,456).Notwithstanding this, the financial report has been prepared on a going concern basis. As at 31 December 2018, the consolidated entityhad cash and cash equivalents of $600,255 but incurred net operating cash outflows of $657,698 for the six month period ended on thatdate. These $657,698 outflows include exploration expenditure of $392,690. The Company estimates expenditure of $520,000 for wages,fees and overheads including listing fees for the 12 month period following the date of this report.The directors consider the existing cash reserves are sufficient for the group to continue as a going concern for the next twelve months.The Company plans to fund continued exploration on its existing projects through joint venture under project farm out agreements or byraising capital by issuing securities.At the date of this report no joint venture farm out agreement had been made for any project and should such funding sources not beidentified and accessed and the Company be unable to access working capital by issuing shares the group may be unable to continue as agoing concern, and as such be required to realise its assets and extinguish its liabilities other than in the ordinary course of business, andat amounts that differ from those stated in this financial reportEmphasis of Matter – Going ConcernWithout modifying the opinion expressed above, we draw attention to Note 2 “Significant Accounting Policies – Going Concern” which indicates the company incurred a loss for the period ended 31 December 2018 of $632,281 and that the company’s ability to continue exploration expenditure and development of its mining tenements and meet operational expenditure is dependent upon future capital raising and/or project farm out agreements. These conditions along with other matters as set forth in Note 2, indicate the existence of a material uncertainty that may cast significant doubt about the company’s ability to continue as a going concern and therefore, the company may be unable to realise its assets and discharge its liabilities in the normal course of business