DATELINE RESOURCES LIMITED A.C.N. 149 105 653 For personal ... · Dateline Resources Limited is an...

DATELINE RESOURCES LIMITED

A.C.N. 149 105 653

FINANCIAL REPORT to SHAREHOLDERS

for the HALF YEAR ENDED

31 DECEMBER 2016

For

per

sona

l use

onl

y

DATELINE RESOURCES LIMITED CORPORATE INFORMATION FOR THE HALF YEAR ENDED 31 DECEMBER 2016

2 | P a g e

Directors & Officers BankersMark Johnson AO - Chairman National Australia BankStephen Baghdadi - CEO and Executive Director 300 Victoria AvenueGreg Hall - Non-Executive Director Chatswood NSW 2067John Smith - Company Secretary Website: www.nab.com.au

Registered Office AuditorsLevel 29 HLB Mann Judd2 Chifley Square Level 19, 207 Kent StreetSydney NSW 2000 Sydney NSW 2000

Website: www.hlb.com.auPO Box 553South Hurstville NSW 2221

Share RegistryT: +61 (02) 8231 6640 Security Transfers Registrars Pty LtdF: +61 (02) 8231 6487 770 Canning HighwayE-mail: [email protected] Applecross WA 6153Website: www.datelineresources.com.au Website: www.securitytransfer.com.au

Securities Exchange SolicitorsAustralian Securities Exchange Limited ("ASX") K & L GatesHome Exchange – Sydney Level 31, 1 O'Connell StreetASX Symbol – DTR (ordinary shares) Sydney NSW 2000

Website: www.klgates.comAustralian Company NumberACN 149 105 653

Australian Business Number Domicile and Country of IncorporationABN 63 149 105 653 Australia

For

per

sona

l use

onl

y

DATELINE RESOURCES LIMITED DIRECTORS’ REPORT FOR THE HALF YEAR ENDED 31 DECEMBER 2016

3 | P a g e

The Directors present their report of Dateline Resources Limited (“the Company”) for the half year ended 31 December 2016 (“the Period”).

1. DIRECTORS

The names of the Company’s Directors in office during the Period and until the date of this report are set out below. Directors were in office for this entire Period unless otherwise stated.

Director / Position Duration of Appointment

Mr. Mark Johnson AO Chairman

Appointed 22 April, 2013

Mr. Stephen Baghdadi CEO and Executive Director

Appointed 3 July, 2014

Mr. Greg Hall Non-Executive Director

Appointed 19 January 2016

2. COMPANY SECRETARY

The Company Secretary role was held by the following individual during the half year: - Mr. John Smith (appointed 24 October 2013).

3. PRINCIPAL ACTIVITIES

Dateline Resources Limited is an Australian-based mineral exploration company with existing exploration projects in Australia and the Republic of Fiji and mining permits in Colorado USA.

For

per

sona

l use

onl

y

DATELINE RESOURCES LIMITED DIRECTORS’ REPORT (Continued) FOR THE HALF YEAR ENDED 31 DECEMBER 2016

4 | P a g e

4. REVIEW OF OPERATIONS AND ACTIVITIES

Tenement Schedule

Project Number Ownership Location Udu SPL1387 100% Fiji Udu SPL1396 100% Fiji Udu CX814 Application 100% Fiji Udu CX815 Application 100% Fiji Mt Augustus E09/2030 100% Western Australia Mt Augustus E09/2031 100% Western Australia Mt Augustus E09/2117 100% Western Australia Mt Augustus E09/2118 100% Western Australia Gold Links Mine 34 Patented Claims 100% Colorado USA Gold Links Mine 20 Unpatented Claims 100% Colorado USA

DTR’s tenements at Udu are prospective for porphyry occurrences. Data and information on these prospects and a conceptual framework for low cost exploration were further evaluated. The company is now in a position to provide potential joint venture partners with access to a considerable data base.

FINANCIAL RESULTS

The financial results of the Company for the half year ended 31 December 2016 are:

31-Dec-16 30-Jun-16 Cash & Cash equivalents ($) 687,461 72,363 Net Assets ($) 6,321,980 3,801,204 31-Dec-16 31-Dec-15 Revenue ($) 157 666 Net Profit (Loss) After Tax ($) (140,229) (223,453) Profit/(Loss) per Share (Cents) (0.11) (0.26) Dividend ($) - -

5. SIGNIFICANT EVENTS

During the Period the following significant events took place:

On 19 October 2016 the Company announced that it had entered into a binding agreement with Southern Cross Exploration NL (SXX) to take assignment of Gunnison Gold Pty Ltd (Gunnison). Gunnison had recently entered into agreements to acquire 100% ownership of CRG Mining LLC (which owns permitted Gold Links Mine in Colorado) and 100% of SLV Minerals LLC (which owns a 50 tonne-per day (tpd) ore processing mill located on 17 acres (6 hectares) of freehold land in Colorado). The transaction was subject to shareholder approval.

At the Annual General meeting of Dateline Resources Limited held on 30 November 2016 the shareholders of the Company approved the above transaction between SXX and DTR. In addition the shareholders approved the placement of a total of 265,862,055 fully paid ordinary shares to existing and new shareholders of the Company plus the issuance of 35,000,000 unlisted options with an exercise price of $0.04 and an expiry date of 31 October 2019. These shares and options were subsequently issued on 13 December 2016.

For

per

sona

l use

onl

y

DATELINE RESOURCES LIMITED DIRECTORS’ REPORT (Continued) FOR THE HALF YEAR ENDED 31 DECEMBER 2016

5 | P a g e

6. EVENTS AFTER BALANCE SHEET DATE

On 6 February 2017, the Company announced that it had reached agreement with Gleneagles Securities (Aust) Pty Ltd for the issuance of 33,333,333 fully paid ordinary shares, representing 8.32% of Dateline’s issued capital following completion of the placement, at an issue price of $0.03 per Share. The shares were issued to private clients (sophisticated investors) of Gleneagles. The placement raised $1,000,000 to be used for working capital purposes. The above shares were subsequently issued on 8 February 2017.

No other matter or event has arisen since 31 December 2016 that would be likely to materially affect the operations of the Company, or the state of affairs of the Company not otherwise as disclosed in the Company’s financial report.

7. AUDITOR’S INDEPENDENCE DECLARATION

The auditors independence declaration under Section 307C of the Corporations Act 2001 is set out on Page 6.

Signed in accordance with a resolution of Directors.

Mark Johnson AO Chairman 15 March 2017

For

per

sona

l use

onl

y

6 | P a g e

AUDITOR’S INDEPENDENCE DECLARATION As lead auditor for the review of the financial report of Dateline Resources Limited for the half-year ended 31 December 2016, I declare that to the best of my knowledge and belief, there have been no contraventions of: (a) the auditor independence requirements of the Corporations Act 2001 in relation to the review; and (b) any applicable code of professional conduct in relation to the review. This declaration is in respect of Dateline Resources Limited and the entities it controlled during the period. Sydney, NSW M D Muller 15 March 2017 Director

For

per

sona

l use

onl

y

DATELINE RESOURCES LIMITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE HALF YEAR ENDED 31 DECEMBER 2016

7 | P a g e

Note 31-Dec-16 31-Dec-15$ $

Continuing operationsRevenue 157 666Directors fees and other benefits (18,250) (13,393)Exploration Expenditure - (11,213)Administration expenses 4 (122,136) (199,513)Loss from continuing operations before income tax (140,229) (223,453)Income tax expense - -Loss from continuing operations after income tax (140,229) (223,453)

Other comprehensive income/(loss)Foreign Currency Translation Reserve 7,417 (13,835)Total comprehensive loss for the period (132,812) (237,288)

Loss for the period is attributable to:Owners of the Company (140,229) (223,453)

(140,229) (223,453)

Total comprehensive loss for the periodattributable to:Owners of the Company (132,812) (237,288)

(132,812) (237,288)

Cents CentsLoss per share from continuing operationsattributable to the ordinary equity holders of the Company:

Basic and diluted loss per share – cents per share 17 (0.11) (0.26)

The above Condensed Statement of Comprehensive Income should be read in conjunction with the accompanying notes.

For

per

sona

l use

onl

y

DATELINE RESOURCES LIMITED CONSOLIDATED STATEMENT OF FINANCIAL POSITION FOR THE HALF YEAR ENDED 31 DECEMBER 2016

8 | P a g e

Note 31-Dec-16 30-Jun-16

$ $Current AssetsCash & cash equivalents 687,461 72,363Trade & other receivables 56,363 28,273Financial Assets 20,938 20,370Total Current Assets 764,762 121,006

Non-Current AssetsPlant & Equipment 5 3,085 5,710Mining Plant & Equipment 5 1,815,643 -Exploration & evaluation expenditure 6 8,171,362 4,556,309Total Non-Current Assets 9,990,090 4,562,019

TOTAL ASSETS 10,754,852 4,683,025

Current LiabilitiesTrade & other payables 556,335 602,293Loans from Related Parties 7 32,279 279,528Total Current Liabilities 588,614 881,821

Non-Current LiabilitiesTrade & other payables 8 3,844,258 -Total Non-Current Liabilities 3,844,258 -

TOTAL LIABILITIES 4,432,872 881,821

NET ASSETS 6,321,980 3,801,204

Equity attributable to the equity holders of the CompanyContributed equity 9 11,304,584 8,766,335Reserves 534,358 411,602Accumulated losses (5,516,962) (5,376,733)TOTAL EQUITY 6,321,980 3,801,204

The above Condensed Statement of Financial Position should be read in conjunction with the accompanying notes.

For

per

sona

l use

onl

y

DATELINE RESOURCES LIMITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE HALF YEAR ENDED 31 DECEMBER 2016

9 | P a g e

IssuedCapital

AccumulatedLosses

OptionValuationReserve

ForeignCurrencyReserve TOTAL

$ $ $ $ $

Balance as at 1 July, 2016 8,766,335 (5,376,733) - 411,602 3,801,204

Total Profit / (loss) - (140,229) - - (140,229)

Total other comprehensive income - - - 7,417 7,417

Total comprehensive Incomefor the Period

- (140,229) - 7,417 (132,812)

Transaction with owners in their capacity as owners

Contributions of equity 2,538,249 - 115,339 - 2,653,588

Balance as at 31 December 2016 11,304,584 (5,516,962) 115,339 419,019 6,321,980

IssuedCapital

AccumulatedLosses

OptionValuationReserve

ForeignCurrencyReserve TOTAL

$ $ $ $ $

Balance as at 1 July, 2015 7,763,196 (5,038,410) - 625,694 3,350,480

Total Profit / (loss) - (223,453) - - (223,453)

Total other comprehensive income - - - (13,835) (13,835)

Total comprehensive Incomefor the Period

- (223,453) - (13,835) (237,288)

Transaction with owners in their capacity as owners

Contributions of equity 1,003,139 - - - 1,003,139

Balance as at 31 December 2015 8,766,335 (5,261,863) - 611,859 4,116,331

The above Condensed Statement of Changes in Equity should be read in conjunction with the accompanying notes.

For

per

sona

l use

onl

y

DATELINE RESOURCES LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE HALF YEAR ENDED 31 DECEMBER 2016

10 | P a g e

31-Dec-16 31-Dec-15 $ $ Cash flows used in operating activities

Payment to suppliers and employees (195,468) (130,463) Interest received 157 666

Net cash flows used in operating activities (195,311) (129,797)

Cash flows used in investing activities Payment for acquisition of subsidiaries net of cash acquired - 308,792 Payment for exploration & evaluation expenditure (577,301) (94,469)

Net cash flows (used)/provided by investing activities (577,301) 214,323

Cash flows from financing activities Proceeds from issue of shares 1,115,655 - Advance of related party loan 272,055 41,000

Net cash flows from financing activities 1,387,710 41,000

Net increase in cash and cash equivalents 615,098 125,526

Net Foreign exchange difference - (13,836)

Cash and cash equivalents at beginning of period 72,363 45,907 Cash and cash equivalents at end of period 687,461 157,597

The above Condensed Statement of Cash Flows should be read in conjunction with the accompanying notes.For

per

sona

l use

onl

y

DATELINE RESOURCES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2016

11 | P a g e

1. CORPORATE INFORMATION

The financial report of Dateline Resources Limited (the “Company”) covers the period from 1 July 2016 to 31 December 2016 (the “Period”). The Company was incorporated on 3 February 2011.

In June 2011, the Company was listed on the Australian Securities Exchange (ASX) through initial Public Offering Prospectus dated 18 April 2011.

The Company is an Australian-based mineral exploration company with existing exploration projects in Australia and the Republic of Fiji and mining permits in Colorado USA. The address of the registered office of the Company is Level 29, 2 Chifley Square Sydney NSW 2000.

The financial report of Dateline Resources Limited for the Period was authorised for issue in accordance with a resolution of the Directors on 15 March 2017.

2. BASIS OF PREPARATION AND ACCOUNTING POLICIES

Basis of preparation

This general purpose interim condensed financial report of the Company for the Period has been prepared in accordance with AASB 134 Interim Financial Reporting and the Corporations Act 2001. Compliance with AASB 134 ensures compliance with International Financial Standard IAS 34 Interim Financial Reporting.

The half-year financial report does not include all notes of the type normally included within the annual financial report and therefore cannot be expected to provide as full an understanding of the financial performance, financial position and financing and investing activities of the Company as the full financial report.

It is recommended that the interim financial report be read in conjunction with the annual financial statements for the year ended 30 June 2016 and considered together with any public announcements made by the Company during the Period and up to the date of this report in accordance with the continuous disclosure obligations of the ASX Listing Rules.

The accounting policies and methods of computation adopted in the preparation of this financial report for the Period under review are consistent with those adopted in the annual financial statements for the year ended 30 June 2016. These accounting policies are consistent with Australian Accounting Standards and with International Financial Reporting Standards.

Significant Events

Refer to Section 5 in the Directors’ Report for details of significant events that have occurred during the period. F

or p

erso

nal u

se o

nly


12 | P a g e

3. OPERATING SEGMENTS

AASB 8 requires operating segments to be identified on the basis of internal reports about components of the Company that are regularly reviewed by the chief operating decision maker in order to allocate resources to the segment and to assess its performance.

Australia USA Fiji ConsolidationEntries

TOTAL

31 December 2016 A$ A$ A$ A$ A$Revenues 157 - - - 157Segment Result (138,877) - (1,352) - (140,229)

31 December 2015Revenues 666 - - - 666Segment Result 218,064 - (204,155) 209,544 223,453

31 December 2016Total Segment Assets 19,667,041 4,961,967 4,161,091 (18,035,247) 10,754,852Total Segment Liabilities 6,304,267 559,296 4,855,160 (7,285,851) 4,432,872

30 June 2016Total Segment Assets 13,568,814 - 4,125,899 (13,011,688) 4,683,025Total Segment Liabilities 2,720,226 - 4,818,720 (6,657,125) 881,821

31-Dec-16 31-Dec-15

4. ADMINISTRATION EXPENSES $ $Consulting and corporate expenses 62,859 133,676Compliance and regulatory expenses 24,407 21,903Depreciation expenses 2,670 6,183Other administration expenses 32,200 37,751

TOTAL ADMINISTRATION EXPENSES 122,136 199,513

Consolidated

For

per

sona

l use

onl

y


13 | P a g e

31-Dec-16 30-Jun-16

5. FIXED ASSETS $ $Carrying amount of Fixed Assets 1,818,728 5,710

(a) Plant & EquipmentAt Cost 53,682 53,682Less accumulated depreciation (53,682) (53,559)Total Plant & Equipment - 123Movement during the PeriodBalance at the beginning of the period 123 553Depreciation Expense (123) (430)Balance at the end of the period - 123

(b) Office Equipment At Cost 51,773 51,773Less accumulated depreciation (48,733) (46,186)Total Office Equipment 3,040 5,587Movement during the PeriodBalance at the beginning of the period 5,587 10,768Additions - 6,194Depreciation Expense (2,502) (11,375)Balance at the end of the period 3,085 5,587

(c) Mining Plant & EquipmentAt Cost 1,815,643 -Total Mining Plant & Equipment 1,815,643 -Movement during the PeriodBalance at the beginning of the period - -Additions 112,199 -Plant & Equipment acquired on acquisition ofGunnison Gold Pty Ltd (Note 12b) 1,703,444 -Balance at the end of the period 1,815,643 -

Consolidated

F

or p

erso

nal u

se o

nly


14 | P a g e

31-Dec-16 30-Jun-16

6. EXPLORATION & EVALUATION EXPENDITURE $ $Carrying amount of exploration expenditure 8,171,362 4,556,309

Movement during the PeriodBalance at the beginning of the Period 4,556,309 3,600,000Expenditure incurred during the Period 465,093 339,559Tenements acquired on acquisition of GPR - 850,000

3,149,960 -Expenditure written off during the year - (233,250)Balance at the end of the Period 8,171,362 4,556,309

Tenements acquired on acquisition ofGunnison Gold Pty Ltd (refer note 12b)

Consolidated

The ultimate recoupment of the costs carried forward for exploration and evaluation expenditure is dependent on the successful development and commercial exploitation, or alternatively, the sales of the respective area of interest.

The Board has reviewed the situation and the status of the exploration assets and considers that their carrying value is appropriate and recoverable as at 31 December 2016.

31-Dec-16 30-Jun-16

7. LOANS FROM RELATED PARTIES $ $CurrentAmounts owed to Southern Cross Resources NL 32,279 244,528Amounts owed to Mr. Mark Johnson - 35,000

Total current loans from shareholders 32,279 279,528Total non-current loans from shareholders - -

TOTAL LOANS FROM RELATED PARTIES 32,279 279,528

8. TRADE & OTHER LIABILITIES $ $Non-CurrentAmount owed to the vendors of CRG Mining LLC 3,844,258 -

The amount above of $3,844,258 (June 2016 $0) was arrived after applying a discount of 10%per annum and is payable by 20 September 2018.

Consolidated

For

per

sona

l use

onl

y


15 | P a g e

9. CONTRIBUTED EQUITY(a) Share Capital

31-Dec-16 30-Jun-16Ordinary CapitalNumber of Shares 367,162,471 101,300,416Paid Up $11,304,584 $8,766,335

(b) Movements in Share CapitalNumber

of Shares $01 Jul 2016 Opening Balance 101,300,416 8,766,33513 Dec 2016 Issue of shares 265,862,055 2,658,62113 Dec 2016 Share Issue Costs - (120,372)31 Dec 2016 Closing Balance 367,162,471 11,304,584

10. ReservesForeign Currency Translation ReserveThe foreign currency translation reserve records exchange differences arising ontranslation of the foreign controlled subsidiary.

Option Valuation Reserve35,000,000 unlisted options were issued as part of the acquisition of Gunnison GoldPty Ltd (note 12b) valued at $115,339.

Consolidated

Consolidated

For

per

sona

l use

onl

y


16 | P a g e

11. RELATED PARTY DISCLOSURES

Transactions with related parties(i) During the year ended 30 June 2016, Mr. Gregory Hall a director of Golden Phoenix Resources

Limited (GPR) and Dateline Resources Limited was issued 9,999,774 shares in Dateline Resources Limited as consideration for his shares in GPR, as part of the acquisition of GPR.

(ii) On 13 December 2016, in accordance with resolutions approved by the shareholders of Dateline Resources Limited at the Company’s Annual General Meeting on 30 November 2016, Southern Cross Exploration NL:

1. Received 100,000,000 fully paid ordinary shares in Dateline Resources Limited at $0.01 per share. $1,000,000 was received by the Company as full payment for these shares.

2. Received 40,000,000 fully paid ordinary shares in Dateline Resources Limited at $0.01 per share. Consideration for this was the repayment of the majority of the current loan account between Dateline Resources Limited and Southern Cross Exploration NL.

3. Received 25,000,000 unlisted options with an exercise price of $0.04 and an expiry date of 31 October 2019, valued at $83,453 and $250,000 as consideration for introducing the sale to Dateline Resources Limited of Gunnison Gold Pty Ltd.

(iii) On 13 December 2016, in accordance with resolutions approved by the shareholders of Dateline Resources Limited at the Company’s Annual General Meeting on 30 November 2016, Mr. Mark Johnson a director of Dateline Resources Limited:

1. Received 15,000,000 fully paid ordinary shares in Dateline Resources Limited at $0.01 per share. $150,00,000 was received by the Company as full payment for these shares.

2. Received 5,862,055 fully paid ordinary shares in Dateline Resources Limited at $0.01 per share. Consideration for this was the repayment of the current loan account between Dateline Resources Limited and Mr. Johnson.

(iv) On 13 December 2016, in accordance with resolutions approved by the shareholders of Dateline Resources Limited at the Company’s Annual General Meeting on 30 November 2016, Mr. Gregory Hall a director of Dateline Resources Limited, was issued (via a company related to Mr Hall), 10,000,000 fully paid ordinary shares in Dateline Resources Limited at $0.01 per share, in lieu of consultancy fees for services provided to GPR by a company controlled by Mr Hall.

(v) In accordance with resolutions approved by the shareholders of Dateline Resources Limited at the Company’s Annual General Meeting on 30 November 2016, Dateline Resources Limited acquired from Southern Cross Exploration N.L. 100% of the issued capital of Gunnison Gold Pty Ltd. Further details are given in Note 12.

For

per

sona

l use

onl

y


17 | P a g e

12. ENTITIES ACQUIRED DURING THE PERIOD

(a) Summary of acquisitions

On 30 November 2016 the Group acquired 100% of the issued capital of Gunnison Gold Pty Ltd (GGP) and its 100% owned subsidiaries CRG Mining LLC (which owns the permitted Gold Links mine in Colorado USA) and SLV Minerals LLC (which owns a 50 tonnes per day ore processing mill located on 17 acres of freehold land in Colorado USA) from Southern Cross Exploration NL.

(b) Purchase consideration

The total purchase consideration paid was $4,853,404 which included 35,000,000 unlisted options and 25,000,000 fully paid ordinary shares in Dateline Resources valued at $115,339, and $250,000 respectively, deferred consideration of $3,844,258 and $643,807 offset by share capital issued.

The value of assets recognised as a result of the acquisition are as follows:

Value $ Tenements 3,149,960 Plant and equipment 1,703,444 4,853,404

13. DIVIDENDS

No dividend has been paid during the Period and no dividend is recommended for the Period.

14. COMMITMENTS

There are new contracted commitments as at 31 December 2016 in regard to Royalty Arrangements to the vendors of CRG Mining LLC. (CRG). The vendors of CRG are entitled to receive a royalty payment of US$100 for each ounce of gold produced from any mining operations conducted on the acquired tenements up to a maximum of US$7,000,000 (Maximum Amount). The Maximum Amount is to be paid to the vendors of CRG no later than 4 years after any deferred consideration is paid to the vendors of CRG (Royalty Period). The amount of the royalty to be paid for each year during the Royalty Period is the lessor of:

(i) US$2,000,000 and, (ii) the difference between the Maximum Amount and the total amount of the royalty payments

already paid to the vendors of CRG during the Royalty Period.

There were no contracted commitments as at 30 June 2016. F

or p

erso

nal u

se o

nly


18 | P a g e

15. CONTINGENT LIABILITIES

There are no contingent liabilities as at 31 December 2016 (Nil as at 30 June 2016).

16. EVENTS AFTER BALANCE SHEET DATE

On 6 February 2017, the Company announced that it had reached agreement with Gleneagles Securities (Aust) Pty Ltd for the issuance of 33,333,333 fully paid ordinary shares, representing 8.32% of Dateline’s issued capital following completion of the placement, at an issue price of $0.03 per Share. The shares were issued to private clients (sophisticated investors) of Gleneagles. The placement raised $1,000,000 to be used for working capital purposes. The above shares were subsequently issued on 8 February 2017.

No other matter or event has arisen since 31 December 2016 that would be likely to materially affect the operations of the Company, or the state of affairs of the Company not otherwise as disclosed in the Company’s financial report.

17. EARNINGS PER SHARE Consolidated

Six Months

ended Six Months

ended 31-Dec-16 31-Dec-15

Basic and diluted loss per share ($0.11) ($0.26) Net loss used to calculate earnings loss per share ($140,229) ($223,453)

Weighted average number of ordinary shares on issue used in the calculation of earnings per share 127,450,782 86,673,790

For

per

sona

l use

onl

y

DATELINE RESOURCES LIMITED DIRETORS’ DECLARATION FOR THE HALF YEAR ENDED 31 DECEMBER 2016

19 | P a g e

In the Directors’ opinion:

(a) The financial statements and notes of the Company are in accordance with the Corporations Act

2001, including: (i) Giving a true and fair view of the financial position as at 31 December 2016 and the

performance for the period 1 July 2016 to 31 December 2016 ended on that date of the Company.

(ii) Complying with Accounting Standard AASB 134 Interim Financial Reporting, the Corporations Regulations 2001 and other mandatory professional reporting requirements.

(b) There are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable.

This declaration is made in accordance with a resolution of Directors.

On behalf of the Board of Directors.

Mark Johnson Chairman 15 March 2017

For

per

sona

l use

onl

y

20 | P a g e


ACN 149 105 653

INDEPENDENT AUDITOR’S REVIEW REPORT

To the members of Dateline Resources Limited

Report on the Half-Year Financial Report

We have reviewed the accompanying half-year financial report of Dateline Resources Limited (“the company”) which comprises the consolidated statement of financial position as at 31 December 2016, the consolidated statement of comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the half-year ended on that date, notes comprising a summary of significant accounting policies and other explanatory notes and the directors’ declaration, for the consolidated entity comprising the company and the entities it controlled at the half-year end or from time to time during the half-year.

Directors’ Responsibility for the Half-Year Financial Report

The directors of the company are responsible for the preparation of the half-year financial report that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001 and for such internal control as the directors determine is necessary to enable the preparation of the half-year financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express a conclusion on the half-year financial report based on our review. We conducted our review in accordance with Auditing Standard on Review Engagements ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity, in order to state whether, on the basis of the procedures described, we have become aware of any matter that makes us believe that the half-year financial report is not in accordance with the Corporations Act 2001 including: giving a true and fair view of the consolidated entity’s financial position as at 31 December 2016 and its performance for the half-year ended on that date; and complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001. As the auditor of the company, ASRE 2410 requires that we comply with the ethical requirements relevant to the audit of the annual financial report.

A review of a half-year financial report consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Independence

In conducting our review, we have complied with the independence requirements of the Corporations Act 2001. We confirm that the independence declaration required by the Corporations Act 2001, which has been given to the directors of the company, would be in the same terms if given to the directors as at the time of this auditor’s review report. F

or p

erso

nal u

se o

nly

21 | P a g e


ACN 149 105 653

INDEPENDENT AUDITOR’S REVIEW REPORT

Conclusion

Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the half-year financial report of Dateline Resources Limited is not in accordance with the Corporations Act 2001 including:

(a) giving a true and fair view of the consolidated entity’s financial position as at 31 December 2016 and of its performance for the half-year ended on that date; and

(b) complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001.

HLB Mann Judd M D Muller Chartered Accountants Director Sydney, NSW 15 March 2017

For

per

sona

l use

onl

y

DATELINE RESOURCES LIMITED A.C.N. 149 105 653 For personal ... · Dateline Resources Limited is an...

Documents

Transcript of DATELINE RESOURCES LIMITED A.C.N. 149 105 653 For personal ... · Dateline Resources Limited is an...