ABN 49 151 996 566
Annual Report
30 June 2018
Dome Gold Mines Ltd
and its controlled entities
Table of Contents
Chairman’s Message ................................................................................................................... 1
Directors’ Report ........................................................................................................................ 3
Auditor’s Independence Declaration ........................................................................................ 27
Corporate Governance Statement ............................................................................................. 28
Consolidated Statement of Profit or Loss and Other Comprehensive Income ......................... 29
Consolidated Statement of Financial Position .......................................................................... 30
Consolidated Statement of Changes in Equity.......................................................................... 31
Consolidated Statement of Cash Flows .................................................................................... 32
Notes to the Consolidated Financial Statements ....................................................................... 33
Directors’ Declaration ............................................................................................................... 59
Independent Auditor’s Report ................................................................................................... 60
ASX Additional Information .................................................................................................... 63
Corporate Directory .................................................................................................................. 66
Dome Gold Mines Ltd
and its controlled entities
Chairman’s Message
Dear Shareholder
I am pleased to present the Annual Report of Dome Gold Mines Limited for the year ended 30 June 2018.
The past twelve months have seen significant advances at both our Sigatoka Ironsand Project and Ono
Island Gold Project in Fiji, while our third project (Nadrau Copper-Gold) currently has a lower priority and
awaits further exploration at a later date.
At Sigatoka, the main focus of activity was on Koroua Island, near the mouth of the Sigatoka River, where a
comprehensive drilling programme was completed, utilising the company’s own sonic drill rig. This work
filled an important gap in our knowledge of sand distribution and thickness within the currently delineated
Sigatoka JORC 2012 mineral resource, defined by earlier sonic drilling. Correlation from hole to hole was
good, with generally about 2m of silty clay/loam overburden above some 8m of coarse to very coarse sand
and up to 15m of finer sand below that. Most drill holes extended from surface to about 25m and the
majority of these ended in mineralised fine sand. The results from the island drilling are very encouraging,
with thick sand sequences and heavy mineral abundances, including magnetite, consistent with those in
the existing resource. A little more drilling remains to be done in this area and once that is completed, a
new mineral resource estimate will be commissioned for Sigatoka.
While we await that resource upgrade we are pleased to note the emergence of strong domestic demand
for sand and gravel within Fiji as a result of the country’s ongoing infrastructure development and economic
growth. We expect therefore to find local markets for most if not all of our expected industrial sand and
gravel production, with only the magnetite and bulk heavy mineral concentrates to be exported in full. Our
ability to supply high quality industrial sand to the Fijian domestic market will be of significant economic
benefit to the country and its people. For Dome, that will be a very pleasing outcome, as we are always
very conscious that we are guests in Fiji. As such, we are well aware of the need to meet our social and
economic responsibilities for our host nation and constantly strive to exceed expectations in that regard.
Ono Island, situated approximately 80km south of Fiji’s main island, has been the other principal site of
exploration activity by Dome over the past year. Here the targets of interest are two adjacent gold
prospects of high sulphidation, epithermal type. These are expressed at surface by intense rock alteration
and (oxidised) sulphide mineralisation over a wide area, accompanied by anomalous gold, silver, arsenic
and other metals in soil samples. Encouraged by the size and intensity of alteration and mineralisation at
Ono, and recognising the significant analogy between Ono and other Southwest Pacific gold prospects and
mines, Dome conducted a geophysical (IP) survey over the two prospects in 2016. That work identified
strong chargeability anomalies at depth, with attendant zones of high resistivity. This was interpreted as
strongly indicative of the potential for epithermal gold mineralisation at depth and represented a very
attractive exploration target.
Accordingly, an initial diamond drilling programme was designed and implemented during the first half of
2018. That work was performed for Dome by a Fiji-based contractor known as Geodrill. This first phase
programme saw a total of 2276m of drilling in seven holes, testing parts of both the eastern and western
Naqara prospects on Ono.
All seven holes intersected rock displaying strong to intense argillic (clay) alteration, accompanied by
silicification and the presence of sulphides (mainly pyrite) on fractures, in veins and as disseminated grains.
Maximum sulphide mineralisation corresponded well to the targeted zones of high chargeability, confirming
the veracity of the IP survey and interpretation. Anomalous copper, molybdenum and weakly anomalous
gold and silver values were reported from assays of drill core and these results provide much
encouragement that the Naqara prospects comprise a fertile, metal-bearing system. With such a large
volume of rock to be tested (roughly 2km3 in the top 500m), as yet quite limited information on what might
actually be controlling metal distribution, and only seven drill holes to date, the search for gold at Ono is
very much a work in progress. A good deal more drilling will be required to unveil Ono’s secrets. In keeping
with industry best practice in mineral exploration, Dome will carry out a thorough review of results to date,
including 3-D modelling of geophysics, geochemistry, alteration and sulphide distribution, before we launch
a second phase of drilling. That modelling should help us identify specific gold targets more definitively than
was possible before any direct sub-surface information was available from drilling. In particular, we will be
looking for evidence of boiling zones and other geological factors that may control the distribution and
deposition of gold.
1
Dome Gold Mines Ltd
and its controlled entities
Chairman’s Message
As mentioned above, Dome takes its social responsibility towards the Government and people of Fiji very
seriously and over the past year we have continued to give financial and material support to the Fijian
communities in which we work. Ms Jean White has once again led that process and her expertise in this
area is much appreciated by both Dome and our Fijian hosts.
At the end of July, 2018, Dome announced that it had signed a Heads of Agreement with IHC Robbins, a
wholly owned affiliate of Royal IHC of the Netherlands (IHC), appointing them as contractor to carry out,
when requested, a Definitive Feasibility Study (DFS) for Dome at Sigatoka. The DFS contract is seen as
the beginning of a long term strategic relationship between the companies that will include the appointment
of IHC as Engineering, Procurement and Construction manager at Sigatoka when, assuming a positive
DFS result, the project proceeds to development.
I believe the new relationship with IHC will prove to be of great value to Dome, as IHC is a world leader in
the manufacture and operation of dredge mining and mineral sand processing equipment. They will bring to
us a great depth of expertise in recovering sand in the marine and estuarine environments in an economic
and environmentally sound manner. IHC has its roots in 17th century Netherlands and that long history will
bring much credibility to our undertaking at Sigatoka.
It is a pleasure for me once again to thank my fellow directors at Dome, Mr Tadao Tsubata and Ms Sarah
Harvey, for their expertise and support throughout the year. Mr Tsubata, in particular, has continued to form
an important bridge to our Japanese shareholders and to bring new capital to the company from Japanese
investors. His financial role has been critical to our ability to get on with the job in Fiji and thus begin to
realise for all shareholders the value we see waiting for release at our Fijian projects.
Finally, I would like to thank the staff and contractors of Dome, who have continued to serve the company
with unstinting loyalty. Mr Jack McCarthy, as CEO, has provided strong leadership and firm control of our
programme, aided more recently by Dr Matthew White, who has been appointed pro tem as exploration
manager. They have been well supported by a small administrative staff in Sydney and by a very effective
team in Fiji, who are keen to build wealth for their country, their company and themselves by the diligent
application of their skills to the discovery and development of Fiji's mineral resources.
G. G. LOWDER
Chairman
2
Dome Gold Mines Ltd
and its controlled entities
Directors’ Report
The Directors of Dome Gold Mines Ltd present their report, together with the financial statements of
the consolidated entity, being Dome Gold Mines Ltd ('Dome' or 'the Company') and its controlled
entities (‘the Group’) for the financial year ended 30 June 2018.
DIRECTORS’ DETAILS
The following persons were Directors of Dome during or since the end of the financial year.
Dr Garry Lowder
Bachelor of Science with 1st Class Honours in Geology (University of Sydney)
Doctor of Philosophy (University of California, Berkeley)
Advanced Management Program (Harvard University)
Fellow, Australasian Institute of Mining and Metallurgy
Member, Australian Institute of Company Directors
Chairman
Independent Non-Executive Director
Member of Audit Committee
Director since 1 March 2012
Dr Garry Lowder is a geologist who has spent over 45 years in the Australian and international mining
industries. As an exploration geologist, Garry has worked in Australia, Indonesia and Papua New
Guinea, playing key roles in the discovery of several mineral deposits, including the Northparkes
copper, Cowal gold and Conrad silver deposits in NSW, the Paddington gold and Wodgina tantalum
deposits in WA and the North Sulawesi porphyry copper deposits in Indonesia.
Over the past 30 years Garry has held senior management positions with Australian mining
companies and also spent four years in government as Director General of Mineral Resources in
NSW. In 1997 he founded Malachite Resources Limited, listing it on the ASX (MAR) in 2002 and
retiring as managing director late in 2011; he retired from the position of non-executive Chairman of
Malachite at the end of November, 2012.
Garry was also an independent, non-executive director (and for three years, chairman) of ASX- listed
Straits Resources Limited from 1997 until he retired from that Board in mid-2011.
Other current Directorships: None
Previous Directorships (last 3 years): None
Interests in shares: 570,000 shares
Interests in options: 500,000 options
Mr Tadao Tsubata
Bachelor of Arts in Economics (Kokushikan University, Tokyo)
Non-Executive Director
Director since 8 July 2011
Mr Tadao Tsubata studied at Kokushikan University, Tokyo, in the Department of Politics and
Economics, graduating in 1991 with a B.A. in Economics.
From 1991 to 1997, Tadao worked in corporate finance at a large Japanese securities company.
From this role he moved to a major international life insurance and investment company where he
was involved in retail offerings and distribution of the business in Japan.
Establishing his first business in life insurance distribution and agencies in 2001, this formed the basis
of a new business being a Japanese focused asset management company.
3
Dome Gold Mines Ltd
and its controlled entities
Directors’ Report
In early 2010 the activities of both the insurance business and the asset management company grew
to the extent that a private investment advisory firm was established to specifically target international
investments in mining exploration, primary production and other growth industries. Tadao continues
in the role of Chief Executive Officer of this business and its international operations including in
Australia.
Other current Directorships: None
Previous Directorships (last 3 years): None
Interests in shares: 47,342,393 shares
Interests in options: 500,000 options
Ms Sarah Harvey
Bachelor of Arts (University of Adelaide)
Bachelor of Laws (University of Adelaide)
Master of Laws (College of Law, Sydney)
Certificate in Governance Practice (Governance Institute of Australia)
Appointed 27 July 2017
Independent Non-Executive Director
Chair of Audit Committee
Ms Sarah Harvey has worked for over 15 years, in both private practice and in the corporate sector.
In recent years Sarah has been focused on company secretariat services, providing board and
director advice in strategic planning and review, due diligence, risk compliance and corporate
governance. She holds a BA, LLB, MA (Law) and Certificate in Governance Practice from the GIA.
Other current Directorships: None
Previous Directorships (last 3 years): None
Interests in shares: 20,776,499 shares
Interests in options: 500,000 options
COMPANY SECRETARY
Mr Marcelo Mora holds a Bachelor of Business degree and Graduate Diploma of Applied Corporate
Governance. Mr Mora has been a Company Secretary and an accountant for more than 30 years and
has experience in resources and mining companies both in Australia and internationally, providing
financial reporting and company secretarial services to a range of publicly listed companies. Marcelo
has been the Company Secretary since Dome was incorporated on 8 July 2011.
4
Dome Gold Mines Ltd
and its controlled entities
Directors’ Report
PRINCIPAL ACTIVITIES
The principal activities of the Group have been the continuing exploration and evaluation of its
Projects in Fiji. No significant changes in the nature of these activities occurred during the year.
REVIEW OF OPERATIONS AND FINANCIAL RESULTS
Projects
Dome, through its wholly owned Fijian subsidiaries, Dome Mines Ltd and Magma Mines Ltd holds
100% of three Special Prospecting Licences (SPL) in Fiji, namely, SPL1495 (Sigatoka Iron Sand
Project), SPL1451 (Ono Island Project) and SPL1452 (Nadrau Project) (see Figure 1).
Figure 1 – Dome Gold Mine’s project locations
SPL 1495 Sigatoka Iron Sand Project
This tenement of 2,522.69ha on the south coast of Viti Levu, the largest island of Fiji, covers the
plains at the mouth of the Sigatoka River, the river itself and an area offshore.
It is Dome’s most advanced project, with a Definitive Feasibility Study planned for 2018 to
support an application for a Mining Lease. Environmental Impact Assessment report produced
December 2014.
Pre-feasibility Study report completed early 2015.
MRD notification that a Definitive Feasibility Study was required for issue of a Mining Lease
2017.
Resumption of sonic drilling to update/increase the initial JORC 2012 resource estimate in 2017.
Initial JORC 2012 resource estimate was published in October 2014 and part of a sonic drilling
program to update this report will be completed in 2018.
Expecting to release a report updating initial JORC 2012 report by December 2018.
In October 2014 the company announced a maiden JORC 2012 Resource Estimate for its 100%-
owned Sigatoka Iron Sand Project, located on the main island of Viti Levu, Fiji (see Figure 2).
A maiden Resource Estimate of 131.6 million tonnes included Indicated Mineral Resources of 25
million tonnes @11.6% HM at Sigatoka River, and Inferred Mineral Resources of 100.7 Mt @ 17%
HM at the onshore Kulukulu deposit and 5.9 million tonnes @ 11% HM at Sigatoka River.
5
Dome Gold Mines Ltd
and its controlled entities
Directors’ Report
The Resource consists of detrital magnetite and other heavy minerals in a coastal sand deposit. The
iron sand will be dredged from the Sigatoka river bed and processed by gravity and magnetic
separation to produce saleable products ready for export.
In addition to magnetite concentrate, non-magnetic heavy mineral concentrate and sand and gravel
suitable for industrial or land reclamation uses are expected to be produced during processing.
Figure 2 – Sigatoka River and Kulukulu resource area and estimates
6
Dome Gold Mines Ltd
and its controlled entities
Directors’ Report
In December 2014 Dome received an Environmental Impact Assessment report prepared by
independent environmental specialists, Corerega Environment Consultants. The report concluded
that “the proposed mining, dredging and mineral extraction development project is likely to have
significant economic benefits to the local area, the region and the Country of Fiji and local residents
are likely to benefit from the increase in productivity of land, river and marine environment and
through job opportunities”.
Dome announced the completion of a positive Pre-Feasibility Study (PFS) in March 2015. The PFS
concluded that a viable dredge mining and sand processing operation to recover industrial sand,
gravel, magnetite concentrate (iron ore) and a bulk non-magnetic heavy mineral concentrate, all
products have local or international markets. The PFS recommended completion of a Definitive
Feasibility Study (DFS) that will include the operation of a pilot processing plant to produce product
samples that can be used for establishing market prices. In addition, the DFS will generate process
engineering data needed for the design and equipment selection of a full-scale process plant. The
DFS will also provide support to seek funds to implement the mining operation.
The potential to generate stable revenue by producing multiple products for sale, as well as its coastal
location, give the Sigatoka Project commercial advantages that many other iron ore projects do not
possess.
In July 2017, a program of 67 sonic drill holes commenced on Koroua Island, a part of the heavy
mineral and magnetite bearing sand deposit that is not yet part of the JORC 2012 resource estimate
(see Figure 3). The drilling confirmed that the island is composed of thick (up to 26m) sand and gravel
containing an average of 13% heavy minerals. Figure 4 is a geological cross section showing the
distribution of the sand and gravel tested during drilling.
Figure 3 – Koroua Island sonic drill holes completed 2017
7
Dome Gold Mines Ltd
and its controlled entities
Directors’ Report
Figure 4 – Geological cross section central Koroua Island showing thickness and continuity of
sand and gravel deposit
Half sonic core samples were collected for the drilling and shipped to a mineral sands laboratory in
Perth, Australia for initial analysis. Composite samples for the heavy minerals extracted from the sand
will be sent to IHC Robbins laboratory near Brisbane, Australia where the magnetite will be separated
from the heavy mineral concentrate using wet magnetic processes.
In addition to Koroua Island, land west of the mouth of the Sigatoka River will also be sonic drilled and
the analytical data from this drilling will be used to update the initial JORC 2012 report.
8
Dome Gold Mines Ltd
and its controlled entities
Directors’ Report
SPL 1451 Ono Island Project
• This tenement of 3,028ha on Ono Island, the eastern most island of the Kadavu Group, covers a
number of hydrothermally altered and mineralised areas and caldera/volcanic centres.
• Two high sulphidation epithermal gold-silver targets and possible deeper porphyry copper-gold
exploration targets (Naqara East and Naqara West) have been identified by geological mapping.
• The prospect is spatially associated with shoshonitic volcanic centres that appear similar in
alteration style, geological formation and metal geochemical anomalism to the Lepanto gold-
copper deposit in the Philippines. Induced Polarisation (IP) arrays were completed in October
2016, identifying anomalies that justified testing.
• A 7-hole exploration diamond drill program commenced in March 2018 and was completed in
early July 2018 for a total of 2276m of drilling. Inspection of drill core showed strong sulphide
mineralised zones coincident with the Induced Polarisation conductive anomalies, confirming the
veracity of the IP interpretations.
• Review of all data and 3-D modelling of exploration results to date will now be undertaken before
proceeding with the next phase of drilling.
Figure 5 – Naqara East and West Prospects on Ono Island showing the extent of hydrothermal
alteration and the IP survey lines. Proposed drill hole locations (A to E) are based
on the IP results and surface geology
Prior to the exploration diamond drilling, an offset pole-dipole IP survey involving 4 arrays, 2 over
each prospect (see Figure 5) was completed. Transmitter electrodes were placed along a central cut
line at 100m intervals with 3 to 4 additional electrodes at the end of each receiver line for totals of
between 31 and 32 points per array (gold coloured lines on Figure 5). Receiver electrodes were
placed at 100m intervals along the two survey lines either side of the transmitter line (34 points).
Two 32 channel IP receivers were used to take 3 to 4 readings at each electrode. Figures 6 & 7 are
compilations of surface alteration and the processed IP data for the East and West Naqara prospects,
known as Naqara East and Naqara West. The area had previously been covered by soil sampling
and geological mapping campaigns that identified locations of intense argillic alteration and zones of
silicification and anomalous geochemistry, proximal to the northern rim of a volcanic caldera.
9
Dome Gold Mines Ltd
and its controlled entities
Directors’ Report
Figures 6 & 7 – Plots of the chargeability (top) and resistivity responses at an apparent depth
of 250m with the outline of the argillic (hatch) and silicification (red)
superimposed as well as locations recommended for exploration drilling
The offset pole-dipole survey has been successful in assisting with location of an initial exploration
drilling program on Ono Island, one of the few remaining untested epithermal targets along the so-
called “Rim of Fire” in the South West Pacific. The schematic model in Figure 8 shows how the
hydrothermal alteration, anomalous geochemistry, present land surface and IP data may indicate the
presence of gold-silver bearing sulphide mineralisation in this environment.
The Company announced on 19 June 2017 that on-site preparations had commenced in advance of
the drill program designed to sample the IP anomalies detected. In January 2018, Dome engaged a
Fiji-based drilling contractor, Geodrill, to undertake a diamond drilling program at Ono Island. The
drilling commenced on 6 March 2018 and the program was completed on 3 July 2018 for a total of
2276 m. The drilling program tested several epithermal gold targets at two prospects on the Ono
Island (Naqara East and Naqara West).
The targeting of drill holes on Ono Island was based on the positive results from several exploration
campaigns completed by Dome over previous years: 1) ionic leach soil sampling; 2) geological and
alteration mapping: and 3) an Induced Polarisation (IP) geophysical survey.
10
Dome Gold Mines Ltd
and its controlled entities
Directors’ Report
The IP survey identified several strong IP chargeability anomalies below the anomalous geology and
geochemistry defined at surface. Naqara East shows the strongest IP conductivity response (see
Figure 8).
Five drill holes were initially proposed (Targets A to E), and another two targets (F and G) were added
during the drilling program. Seven diamond holes (ONODDH001 to 7) were drilled to test the Naqara
East and Naqara West prospects. One drill hole ONODDH002 was twinned due to hole problems,
with the second hole named ONODDH002A. A drill hole location map is included as Figure 9. A table
showing the GPS collar co-ordinates for the program is included below in Table 1.
Hole
Site
ONODDH001
ONODDH002
ONODDH002A
C
E
E
Collar
East
WGS84
658082
Collar
Nth
WGS84
7911718
658343
7911380
658345
7911382
Collar
RL
(m)
175
218
218
ONODDH003
E Alt
658270
7911359
182
ONODDH004
ONODDH005
ONODDH006
ONODDH007
TOTAL
G
B
A
F
656695
7911979
48
656121
7911774
163
656127
7911777
160
657444
7911679
35
Azimuth
(Mag)
Azimuth
(Grid)
Dip
Depth
(m)
Total
Samples
57
237
237
347
237
257
77
77
70
250
250
-60 431.55
215
-65
131.6
-66
117.5
0
11
0
-90
548.8
169
250
270
90
90
-60
350.5
-60
151.1
-70
251.3
-70
293.7
2276.1
59
58
69
159
740
Table 1 - Drill hole collar details for the 2018 Ono Island Gold Project Drilling Program
Figure 8 – Plan showing IP Conductivity at 250 m depth slice, for on Ono Island Gold Project.
The IP chargeability response is highest over East Naqara prospect.
11
Dome Gold Mines Ltd
and its controlled entities
Directors’ Report
Figure 9 – Plan showing the drill hole locations and traces for on the Naqara East and Naqara
West prospects, Ono Island
The Diamond drilling program produced PQ and HQ size drilled core that was laid into core trays for
logging and sampling. The drilling was problematical at times and progress was slow. This was due to
the high-degree of fracturing and clay alteration causing some holes to collapse in places. Cementing
was carried out, in order to secure the holes in areas of poor ground conditions and thus reach
deeper levels.
The core was cut with a diamond saw and sampled (half-core), before despatching to ALS
Laboratories for analysis. QA/QC samples were also included in each batch. The samples were
analysed for gold, silver, copper and a range of other elements. Details of the logging and sampling
procedures are included in JORC Table 1 (See Dome June Quarter Activities Report).
Holes ONODDH001 and ONODDH007 were designed to test the strongest IP chargeability anomalies
at depth at Naqara East (see Figure 10). These IP chargeability anomalies lie directly below IP
resistivity anomalies (see Figure 11). Drill hole ONODDH001 returned wide zones of clay-magnetite
alteration with zones of sulphide mineralisation up to 5% in places (dominantly pyrite) within the host
andesitic volcanic rocks. Drill hole ONODDH007 also returned zones of clay alteration within andesitic
host rocks, with zones of stronger sulphide mineralisation up to 7% in places (dominantly pyrite).
A photo of the sulphide-bearing rock in drill core from ONODDH007 is shown in Figure 12, from 225.7
m depth. The presence of sulphide in the lower part of holes ONODDH001 and 7 explains the IP
chargeability responses. This provides Dome with a high degree of confidence that the IP geophysical
technique has worked well and is able to detect zones of sulphide mineralisation at depth.
12
Dome Gold Mines Ltd
and its controlled entities
Directors’ Report
Figure 10 – IP chargeability cross-section, section showing the trace of drill holes
ONODDH001 and 7 - Ono Island Project, Fiji. These holes were designed to test
the high chargeability anomalies (red/purple zones) in the lower part of the hole
Figure 11 – IP resistivity cross-section, section showing the trace of drill holes ONODDH001
and 7 - Ono Island Project, Fiji
13
Dome Gold Mines Ltd
and its controlled entities
Directors’ Report
Figure 12 – Altered and mineralized volcanic host rock with up to 7% metallic sulphide in drill
hole ONODDH007, HQ core from 355.5 m depth - Ono Island Project, Fiji
14
Dome Gold Mines Ltd
and its controlled entities
Directors’ Report
SPL 1452 Nadrau Project
• This tenement of 33,213ha on Fiji’s main island, Viti Levu, is adjacent to the world class Namosi
Porphyry copper-gold Project that reportedly contains 2.1 billion tonnes grading 0.37% Copper
(Cu) and 0.12g/t Gold (Au).
• The Dome tenement contains two large copper-gold-silver ionic leach geochemical anomalies
(Namoli and Wainivau prospects) interpreted to be related to intrusive centres that are as yet
largely untested by drilling.
• Geological mapping and rock chip sampling have discovered porphyry intrusive complexes at
both the Namoli and Wainivau Prospects with alteration, mineralisation and vein types typical of
mineralised systems.
• Copper-magnetite bearing veins have been discovered in outcrop at the Wainivau prospect.
• Also, in the eastern section of the tenement is the large Wainivalau Intrusive Complex that has
yet to be investigated for porphyry copper-gold systems analogous to those at Namosi-Wasoi to
the south.
Dome announced in July 2014 that its geologists had discovered outcropping copper mineralisation
during exploration field work at the Wainivau Prospect, part of the Nadrau Porphyry Copper-Gold
Project on Fiji’s main island of Viti Levu. Dome found the copper minerals (malachite and
chalcopyrite) associated with magnetite and pyrite in veinlets within outcropping and hydrothermally
altered porphyry intrusive rocks. The veins and their geological setting are interpreted to be typical of
the roof of a mineralised porphyry system.
The Company has obtained quotes to undertake three-dimensional Induced Polarisation and ground
magnetometer surveys over the two porphyry copper-gold prospects, namely Namoli and the
Wainivau (see Figures 13 & 14). The objective of this work is to provide subsurface mapping data on
the intrusive systems whose interpretation will assist with targeting of exploration diamond drill holes.
The renewal of SPL1452 for a further 2-year period for the licence was granted by the Mineral
Resources Department on 13 February 2017.
Figure 13 – Conceptual cross section of the Namoli porphyry intrusive system. Note the drill
hole as shown is as proposed and has not yet been drilled.
15
Dome Gold Mines Ltd
and its controlled entities
Directors’ Report
Figure 14 – Wainivau porphyry system conceptual cross section. Note the drill hole as shown
is as proposed and has not yet been drilled.
Compilation and interpretation of the soil geochemical, rock chip sampling and geological mapping
outline two prospects, namely Namoli and Wainivau. Of the two prospects, the Namoli prospect was
recently re-interpreted and there is a strong correlation among anomalous gold, copper and
molybdenum soil geochem anomalies and mapped mineralised porphyry intrusive. The next field
program will concentrate on this target.
The Special Prospecting Licence (SPL 1452) was granted for a further 2-year period on February 13,
2017 and will remain in force until February 13, 2019.
16
Dome Gold Mines Ltd
and its controlled entities
Directors’ Report
Mineral Resources Statement
Summarised below by JORC Classification are the resource estimates for the Sigatoka River and Kulukulu areas.
The resource estimate was prepared by independent resource consultants and issued in a report entitled “Sigatoka Ironsand Project JORC 2012 Report
Mineral Resource Estimate” dated 8 October 2014 and announced to the market in an ASX release dated 10 October 2014.
Resource comparison 2018 to 2017
There has been no reduction or increase in the resource estimate during the reporting period.
17
Dome Gold Mines Ltd
and its controlled entities
Directors’ Report
Governance Arrangements
Dome’s management and Board of Directors include individuals with many years’ work experience in
the mineral exploration and mining industry who monitor all exploration programs and oversee the
preparation of reports on behalf of the Company by independent consultants. The exploration data
are produced by or under the direct supervision of qualified geoscientists. In the case of drill hole
data half core samples are preserved for future studies and quality assurance and quality control.
The Company uses only accredited laboratories for analysis of samples and records the information
in electronic databases that are automatically backed up for storage and retrieval purposes.
No material changes
Dome Gold Mines Ltd confirms that it is not aware of any new information or data that would
materially affect the information included in the market announcements dated 17 July 2017, 6 March
2018, 15 June 2018 and 30 July 2018, and that all material assumptions and technical parameters in
the market announcements continue to apply and have not materially changed.
Statement of Compliance
The information in this Annual Report that relates to Mineral Resources is based on information
compiled by Mr Geoffrey Richards, a Competent Person who is a member of the Australian Institute
of Geoscientists, Mr Richard Stockwell, a Competent Person who is a member of the Australian
Institute of Geoscientists, and Mr Gavin Helgeland, a Competent Person who is a member of the
Australian Institute of Geoscientists. Mr Richards is a geological consultant and Director of Lionhart
Consulting Services, and Mr Stockwell is Managing Director and Mr Helgeland is Principal Geologist
of Hornet Drilling and Geological Services Pty Ltd. Mr Richards, Mr Stockwell and Mr Helgeland
collectively and individually have sufficient experience that is relevant to the style of mineralisation
and type of deposit under consideration at Sigatoka and to the activity being undertaken to qualify as
Competent Persons as defined in the 2012 Edition of the ‘Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves’. Mr Richards, Mr Stockwell and Mr
Helgeland consent to the inclusion in the Annual Report of the matters based on their information in
the form and context in which it appears. They do not hold shares in Dome and have been paid
normal consulting fees for provision of this information.
The information in this Annual Report that relates to Exploration Results is based on information
compiled by John V McCarthy, who is the Chief Executive Officer of the Company. Mr McCarthy is a
geologist who is a Member of the Australasian Institute of Mining and Metallurgy and has sufficient
experience which is relevant to the style of mineralisation and type of deposits under consideration
and to the activities which he is undertaking to qualify as a Competent Person as defined in the 2012
Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore
Reserves’. Mr McCarthy, through his family Superfund, holds shares in the Company. He consents to
the inclusion in this Annual Report of the matters based on his information in the form and context in
which it appears.
Financial Results
As at 30 June 2018, Dome held $1,004,930 cash and cash equivalents as per note 9 of the financial
statements. The loss of the Group for the financial year after providing for income tax amounted to
$1,704,321 (2017: $1,596,892). The net asset position of the Group increased from $28,825,022 at
30 June 2017 to $31,184,063 at 30 June 2018.
SIGNIFICANT CHANGES IN STATE OF AFFAIRS
In the opinion of the Directors, significant changes in the state of affairs of the Group that occurred
during the year ended 30 June 2018 were as follows:
Issue of share capital
For the year ended 30 June 2018, Dome has raised $4,440,854 by private placements. The funds
are being used for exploration and general working capital. Details of these raisings are as follows:
On 15 November 2017 the Company completed a placement of 2,477,625 fully paid ordinary
shares at $0.20 per share to raise $495,525.
18
Dome Gold Mines Ltd
and its controlled entities
Directors’ Report
On 28 November 2017 the Company completed a placement of 1,454,165 fully paid ordinary
shares at $0.20 per share to raise $290,833.
On 14 December 2017 the Company completed a placement of 5,231,512 fully paid ordinary
shares at $0.20 per share to raise $1,046,302.
On 3 January 2018 the Company completed a placement of 3,000,000 fully paid ordinary shares at
$0.20 per share to raise $600,000.
On 22 January 2018 the Company completed a placement of 4,377,489 fully paid ordinary shares
at $0.20 per share to raise $875,498.
On 20 February 2018 the Company completed a placement of 561,990 fully paid ordinary shares
at $0.20 per share to raise $112,398.
On 2 May 2018 the Company completed a placement of 5,101,490 fully paid ordinary shares at
$0.20 per share to raise $1,020,298.
DIVIDENDS
No dividends were declared or paid during the financial year (2017: $nil).
EVENTS ARISING SINCE THE END OF THE REPORTING PERIOD
Subsequent to the end of the financial year:
SPL 1495 Sigatoka Iron Sand Project
The 3-year licence period expired on July 13, 2018, so notification was made to the Mineral
Resources Department (MRD) of the Company’s intention to apply for renewal of the SPL1495 in
early June 2018 and an application for renewal of SPL1495 for a further 3-year period for the licence
was submitted to MRD on 6 July 2018. On Wednesday September 5, 2018 the Director of the MRD
confirmed their full support for the renewal and advised that due to new legal requirements, the
Company needed to obtain a letter from the Public Trustee that they had no objection to the renewal.
On September 7, 2018 a meeting was held with the Public Trustee, Manager of Estates & Trusts
responsible for five beneficiaries of the Work Estate freehold who confirmed her office supported the
SPL1495 renewal, and will immediately seek the consent of the five beneficiaries. Since the licence
remains in force during the renewal process, it is planned that sonic drilling will resume in September
2018 with completion of the updated JORC 2012 report during December 2018.
In July 2018, the Company sought expressions of interest for completion of a Definitive Feasibility
Study (DFS) from five major engineering firms with experience in heavy mineral sand deposit mining
and processing operations. One international group, IHC Robbins, an affiliate of Royal IHC of the
Netherlands (IHC), agreed to enter into a Heads of Agreement with Dome and undertake the DFS as
the first part of a developing strategic relationship between the companies.
SPL 1451 Ono Island Project
Assays for all holes ONODDH001 to ONODDH007 were carried out by ALS Laboratories. Drill hole
ONODDH001 (Naqara East), returned anomalous copper assays (to 0.3% Cu) and anomalous
molybdenum assays (to 0.2% Mo). The best Mo intercept is 5.05 m @ 0.0643% (643 ppm Mo), from
323 to 328.05 m. This intercept comprises 5 contiguous one metre samples ranging from 110 ppm to
2040 ppm Mo.
The gold-silver assay results are slightly anomalous within areas of strong alteration and sulphide
mineralisation, but are well below economic levels, with maximum assay values of 0.036 g/t Au and
3.6 g/t Ag.
The elevated Cu and Mo and weakly anomalous Au and Ag indicates a metal-bearing epithermal
system is present at Naqara East, and that further exploration drilling could define gold mineralisation
nearby.
In summary, a large sulphide-bearing system weakly anomalous in several metals has been defined
at Naqara East prospect on Ono Island, SPL 1451. This system has many similarities to other Pacific
Rim gold-copper deposits. The strong epithermal alteration, sulphide mineralisation, elevated Cu-Mo
19
Dome Gold Mines Ltd
and its controlled entities
Directors’ Report
and weakly anomalous Au-Ag in drill core samples is encouraging. Additional systematic drilling is
recommended to discover anomalous gold zones within these large sulphide bodies.
No other matters or circumstances have arisen since the end of the year that have significantly
affected or may significantly affect the operations of the Group, the results of those operations, or the
state of affairs of the Group in future financial years.
LIKELY DEVELOPMENTS, BUSINESS STRATEGIES AND PROSPECTS
The Group will continue to explore and evaluate the Company's exploration projects with the aim of
identifying potential mineral resources, and will continue to seek and assess new opportunities in the
Fiji mineral sector with the objective of adding significant shareholder value to Dome.
The Directors are unable to comment on the likely results from the Group’s planned exploration
activities due to the speculative nature of such activities.
DIRECTORS’ MEETINGS
The number of Directors’ Meetings (including meetings of Committees of Directors) held during the
year, and the number of meetings attended by each Director is as follows:
Director
Garry G Lowder
Tadao Tsubata
Sarah E Harvey (appointed 27 July 2017)
BOARD MEETINGS
AUDIT COMMITTEE
MEETINGS
Entitled to
attend
5
5
4
Attended
5
5
4
Entitled to
attend
2
-
2
Attended
2
-
2
UNISSUED SHARES UNDER OPTION
Unissued ordinary shares of Dome under option as at 30 June 2018 were as follows:
Number of options
1,945,107
2,240,523
4,799,713
3,300,000
4,465,566
162,398
5,672,094
750,000*
750,000*
500,000*
500,000*
Exercise price
$0.20
$0.20
$0.20
$0.20
$0.20
$0.20
$0.20
$0.40
$0.50
$0.40
$0.50
Expiry date
15 November 2019
28 November 2019
14 December 2019
3 January 2020
22 January 2020
20 February 2020
2 May 2020
27 July 2020
27 July 2020
31 December 2020
31 December 2020
*Options granted by the Company as part of the remuneration package - details of these options are set out in note 24 to the
financial report.
The names of persons who currently hold options are entered in the register of options kept by the
Company pursuant to the Corporations Act 2011. This register may be inspected free of charge.
All options expired on the expiry date. The persons entitled to exercise the options did not have, by
virtue of the options, the right to participate in the share issue of any other body corporate.
SHARES ISSUED AS A RESULT OF EXERCISE
During or since the end of the financial year, the Company did not issue ordinary shares as a result of
the exercise of options.
20
Dome Gold Mines Ltd
and its controlled entities
Directors’ Report
REMUNERATION REPORT (AUDITED)
The Directors of Dome Gold Mines Ltd (the ‘Group’) present the Remuneration Report for Non-
Executive Directors, Executive Directors and other Key Management Personnel, prepared in
accordance with the Corporations Act 2001 and the Corporations Regulations 2001.
The Remuneration Report is set out under the following main headings:
a.
b.
c.
d.
principles used to determine the nature and amount of remuneration;
details of remuneration;
share-based remuneration; and
other information.
Principles used to determine the nature and amount of remuneration
a.
Key management personnel have authority and responsibility for planning, directing and controlling
the activities of the Group. Key management personnel comprise the Directors of the Company. No
other employees have been deemed to be key management personnel.
The remuneration policy of Directors and senior executives is to ensure the remuneration package
properly reflects the persons’ duties and responsibilities, and that remuneration is competitive in
attracting, retaining and motivating people of the highest quality. The Board is responsible for
reviewing its own performance. The evaluation process is designed to assess the Group’s business
performance, whether long term strategic objectives are being achieved, and the achievement of
individual performance objectives.
Executive remuneration includes a base salary and superannuation that is set with reference to the
market.
Fees to non-executive directors reflect the demands which are made on, and the responsibilities of,
the directors. Non-executive remuneration comprises fixed fees and compensation that is options
over ordinary shares approved by shareholders at the AGM on 16 November 2017. Directors’ fees
and payments are reviewed annually by the Board. The Board has also drawn on external sources of
information to ensure non-executive directors’ fees and payments are appropriate and in line with the
market. The remuneration disclosed below represents the cost to the Group for services provided
under these arrangements.
No Directors or senior executives received performance related remuneration.
There were no remuneration consultants used by the Company during the year ended 30 June 2018,
or in the prior year.
Vote and comments made at the Company’s last Annual General Meeting
The Remuneration Report of Dome Gold Mines Ltd for the financial year ended 30 June 2018 was
approved by shareholders on a show of hands at the Company’s Annual General Meeting.
Consequences of performance on shareholder wealth
In considering the Group’s performance and benefits for shareholder wealth, the Board has regard to
the following indices in respect of the current financial year and the previous four (4) financial years:
Item
EPS (cents)
Dividends (cents per share)
Net loss ($)
Share price ($)
2018
(0.66)
-
(1,704,321)
0.14
2017
(0.67)
-
(1,596,892)
0.24
2016
(0.66)
-
(1,496,956)
0.42
2015
(1.32)
-
(2,654,043)
0.37
2014
(1.39)
-
(1,609,834)
0.27
The Board considers that these indices do not have any impact on the Group’s performance.
21
Dome Gold Mines Ltd
and its controlled entities
Directors’ Report
Details of remuneration
b.
Details of the nature and amount of each major element of the remuneration of each Director of the Company and other key management personnel of the Group are
shown in the table below:
Director and other Key Management Personnel Remuneration
Short term employee benefits
Post-employment
benefits
Share-based
payments
Cash salary
and fees
$
Year
Other fees
$
Non-cash
benefits
$
Superannuation
$
Fair value of
options
$
2018
2017
2018
2017
2018
2017
2018
2017
2018
2017
Non-executive Directors
Garry Lowder
(Chairman)
Tadao Tsubata
(Director)
Sarah Harvey1
(Director)
Allen Jay2
(Director)
Andrew Skinner3
(Director)
Other Key Management Personnel
John (Jack) McCarthy
(CEO)
2018 Total
2017 Total
2018
2017
2018
2017
40,004
17,057
29,000
19,800
27,000
2,000
-
15,300
-
72,600
200,000
180,000
296,004
306,757
-
-
-
-
-
-
-
-
-
24,000
-
-
-
24,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
24,996
32,443
-
-
-
-
-
-
-
-
25,000
35,000
49,996
67,443
20,281
-
20,281
-
20,281
-
-
-
-
-
-
-
60,843
-
Proportion of
remuneration
performance
related
%
Value of
options as a
proportion of
remuneration
%
-
-
-
-
-
-
-
-
-
-
-
-
-
-
24
-
41
-
43
-
-
-
-
-
-
-
15
-
Total
$
85,281
49,500
49,281
19,800
47,281
2,000
-
15,300
-
96,600
225,000
215,000
406,843
398,200
No bonuses or performance related compensation payments were paid during the current year to Directors or executives. The Group employed no other key management
personnel.
No shares were granted to key management personnel as compensation during the year ended 30 June 2018.
In 2017 “other fees” represented consulting fees for consulting services provided.
1 Sarah Harvey - resigned as an alternate director on 21 July 2016 and appointed as a non-executive director on 27 July 2017
2 Allen Jay – deceased 12 March 2017
3 Andrew Skinner – resigned 30 June 2017
22
Dome Gold Mines Ltd
and its controlled entities
Directors’ Report
c.
All options refer to options over ordinary shares of the Company, which are exercisable on a one-for-one basis under the terms of the agreement.
Share-based remuneration
Options were granted to Directors as part of their remuneration during the year ended 30 June 2018. Options were granted for no consideration. Options granted carry no
dividends or voting rights when exercised. Details of options granted are set out in the table below.
Director
Garry Lowder
Tadao Tsubata
Sarah Harvey
Number
granted
250,000
250,000
250,000
250,000
250,000
250,000
Grant date
24 November 2017
24 November 2017
24 November 2017
24 November 2017
24 November 2017
24 November 2017
Value per
option at grant
date
$
0.046
0.035
0.046
0.035
0.046
0.035
Value of
options at
grant date
$
11,498
8,783
11,498
8,783
11,498
8,783
Number vested
250,000
250,000
250,000
250,000
250,000
250,000
Exercise price
$
0.40
0.50
0.40
0.50
0.40
0.50
Vesting and first exercise
date
24 November 2017
24 November 2017
24 November 2017
24 November 2017
24 November 2017
24 November 2017
Last exercise date
27 July 2020
27 July 2020
27 July 2020
27 July 2020
27 July 2020
27 July 2020
The options were provided at no cost to the recipients. All options expire on their expiry date.
There were no options over ordinary shares of the Company exercised, forfeited or lapsed unexercised which are related to Directors’ or key management personnel’s
remuneration during the year ended 30 June 2018.
No terms of equity-settled share based payment transactions have been altered or modified by the issuing entity during the 2018 financial year.
23
Dome Gold Mines Ltd
and its controlled entities
Directors’ Report
d.
Other information
Options held by key management personnel
The number of options to acquire shares in the Company during the 2018 reporting period held by
each of the Group’s Key Management Personnel of the Group, including their related parties, is set out
below.
YEAR ENDED 30 JUNE 2018
Director
Balance at start
of year
Granted as
remuneration
Received on
exercise
Other changes
Garry Lowder
Tadao Tsubata
Sarah Harvey
John McCarthy
-
-
-
-
500,000
500,000
500,000
-
-
-
-
-
-
-
-
-
Held at the end
of reporting
period
500,000
500,000
500,000
-
Shares held by key management personnel
The number of ordinary shares in the Company during the 2018 reporting period held by each of the
Group’s Key Management Personnel of the Group, including their related parties, is set out below.
YEAR ENDED 30 JUNE 2018
Director
Balance at start
of year
Granted as
remuneration
Received on
exercise
Other changes
Garry Lowder
Tadao Tsubata*
Sarah Harvey**
John McCarthy
570,000
7,342,393
-
260,000
-
-
-
-
-
-
-
-
-
40,000,000
20,776,449
-
Held at the end
of reporting
period
570,000
47,342,393
20,776,449
260,000
*40,000,000 shares were acquired through off-market transfer during the 2018 reporting period.
**Sarah Harvey was appointed as a director on 27 July 2017. She and her related party held 20,776,449 shares
as at the date of her appointment.
Note: None of the shares included in the table above are held nominally by key management personnel.
Service Agreements for Directors and key management personnel
Directors are engaged under contracts. Their remuneration is not fixed and fluctuates in line with the
financial situation of the Company. The terms of their engagement are unspecified, and there is no
period of notice of termination.
Mr John V McCarthy is engaged under a service agreement. His remuneration is reported in the table
in section b above. The terms of his engagement are unspecified, and there is a 3 months’ notice of
termination.
End of audited remuneration report.
24
Dome Gold Mines Ltd
and its controlled entities
Directors’ Report
ENVIRONMENTAL LEGISLATION
The Group is subject to state, federal and international environmental legislation. The Group has
complied with its environmental obligations and no environmental breaches have been notified by any
Government agency to the date of this Directors’ Report and the Directors do not anticipate any
obstacles in complying with the legislation.
INDEMNITIES AND INSURANCE OF OFFICERS AND AUDITORS
During the year, Dome paid a premium to insure officers of the Group. The officers of the Group
covered by the insurance policy include all Directors.
The liabilities insured are legal costs that may be incurred in defending civil or criminal proceedings
that may be brought against the officers in their capacity as officers of the Group, and any other
payments arising from liabilities incurred by the officers in connection with such proceedings, other
than where such liabilities arise out of conduct involving a wilful breach of duty by the officers or the
improper use by the officers of their position or of information to gain advantage for themselves or
someone else to cause detriment to the Group.
Details of the amount of the premium paid in respect of insurance policies are not disclosed as such
disclosure is prohibited under the terms of the contract.
The Group has not otherwise, during or since the end of the financial year, except to the extent
permitted by law, indemnified or agreed to indemnify any current or former officer or auditor of the
Group against a liability incurred as such by an officer or auditor.
NON-AUDIT SERVICES
During the year, Grant Thornton, the Company’s auditors, performed no other services in addition to
their statutory audit duties.
The Board may consider to employing the auditor on assignments in addition to their statutory audit
duties where the auditor’s expertise and experience with the Group are important provided the auditor
is satisfied that the provision of those non-audit services is compatible with, and did not compromise,
the auditor independence requirements of the Corporations Act 2001 for the following reasons:
all non-audit services were subject to the corporate governance procedures adopted by the
Company to ensure they do not impact upon the impartiality and objectivity of the auditor; and
the non-audit services do not undermine the general principles relating to auditor independence
as set out in APES 110 Code of Ethics for Professional Accountants, as they did not involve
reviewing or auditing the auditor’s own work, acting in a management or decision-making
capacity for the Company, acting as an advocate for the Company or jointly sharing risks and
rewards.
Details of the amounts paid to the auditors of the Company, Grant Thornton, and its related practices
for audit and non-audit services provided during the year are set out in Note 19 to the Financial
Statements.
PROCEEDINGS OF BEHALF OF THE COMPANY
No person has applied to the Court under section 237 of the Corporations Act 2001 for leave to bring
proceedings on behalf of the Company, or to intervene in any proceedings to which the Company is a
party, for the purpose of taking responsibility on behalf of the Company for all or part of those
proceedings.
25
Dome Gold Mines Ltd
and its controlled entities
Directors’ Report
AUDITOR'S INDEPENDENCE DECLARATION
A copy of the Auditor’s Independence Declaration as required under s307C of the Corporations Act
2001 is included on page 27 of this financial report and forms part of this Directors’ Report.
Signed in accordance with a resolution of the Directors.
G. G. Lowder
Chairman
Sydney, 13 September 2018
26
Level 17, 383 Kent Street
Sydney NSW 2000
Correspondence to:
Locked Bag Q800
QVB Post Office
Sydney NSW 1230
T +61 2 8297 2400
F +61 2 9299 4445
E info.nsw@au.gt.com
W www.grantthornton.com.au
Auditor’s Independence Declaration
To the Directors of Dome Gold Mines Limited
In accordance with the requirements of section 307C of the Corporations Act 2001, as lead auditor for the audit of Dome Gold
Mines Limited for the year ended 30 June 2018, I declare that, to the best of my knowledge and belief, there have been:
a
b
no contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the audit; and
no contraventions of any applicable code of professional conduct in relation to the audit.
Grant Thornton Audit Pty Ltd
Chartered Accountants
M D Dewhurst
Partner – Audit & Assurance
Sydney, 13 September 2018
Grant Thornton Audit Pty Ltd ACN 130 913 594
a subsidiary or related entity of Grant Thornton Australia Ltd ABN 41 127 556 389
www.grantthornton.com.au
‘Grant Thornton’ refers to the brand under which the Grant Thornton member firms provide assurance, tax and advisory services to their clients
and/or refers to one or more member firms, as the context requires. Grant Thornton Australia Ltd is a member firm of Grant Thornton International
Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. GTIL and each member firm is a separate legal entity. Services are
delivered by the member firms. GTIL does not provide services to clients. GTIL and its member firms are not agents of, and do not obligate one
another and are not liable for one another’s acts or omissions. In the Australian context only, the use of the term ‘Grant Thornton’ may refer to
Grant Thornton Australia Limited ABN 41 127 556 389 and its Australian subsidiaries and related entities. GTIL is not an Australian related entity to
Grant Thornton Australia Limited.
Liability limited by a scheme approved under Professional Standards Legislation.
27
Dome Gold Mines Ltd
and its controlled entities
Corporate Governance Statement
The Board is committed to achieving and demonstrating the highest standards of corporate
governance. Corporate Governance is about having a set of core values and behaviours that
underpin the Company’s activities and ensure transparency, fair dealing and protection of the interests
of stakeholders. Dome Gold Mines Ltd and its Controlled Entities (‘the Group’) have adopted the third
edition of the Corporate Governance Principles and Recommendations which was released by the
ASX Corporate Governance Council on 27 March 2014 and became effective for financial years
beginning on or after 1 July 2014.
The Group’s Corporate Governance Statement for the financial year ending 30 June 2018 is dated as
at 30 June 2018 and was approved by the Board on 13 September 2018. A description of the
Company’s current corporate governance practices is set out in the Company’s Corporate
Governance Statement, which is available on the Company’s website at www.domegoldmines.com.au.
28
Dome Gold Mines Ltd
and its controlled entities
Consolidated Statement of Profit or Loss and Other Comprehensive
Income
for the year ended 30 June 2018
Other income
Employee benefits expenses (including directors fees)
Other expenses
Operating loss
Depreciation
Finance costs
Share based payments
Gain/(loss) on foreign exchange
Loss before income tax expense
Income tax expense
Loss for the year
Notes
2018
$
2017
$
4
5
6
24
9,376
16,004
(538,979)
(1,038,734)
(1,568,337)
(7,008)
(25,228)
(103,439)
(309)
(1,704,321)
(523,260)
(1,026,849)
(1,534,105)
(9,742)
(52,952)
-
(93)
(1,596,892)
7
-
(1,704,321)
-
(1,596,892)
Other comprehensive income for the year
Items that may be reclassified subsequently to profit or
loss:
Exchange difference on translating foreign controlled
entities
31,187
(62,691)
Total comprehensive loss for the year
(1,673,134)
(1,659,583)
Earnings per share
Basic and diluted loss per share (cents per share)
8
(0.66)
(0.67)
The above consolidated statement of profit or loss and other comprehensive income should be read in
conjunction with the accompanying notes
29
Dome Gold Mines Ltd
and its controlled entities
Consolidated Statement of Financial Position
as at 30 June 2018
CURRENT ASSETS
Cash and cash equivalents
Trade and other receivables
Other assets
TOTAL CURRENT ASSETS
NON-CURRENT ASSETS
Property, plant and equipment
Capitalised exploration and evaluation expenditure
Other assets
TOTAL NON-CURRENT ASSETS
TOTAL ASSETS
CURRENT LIABILITIES
Trade and other payables
TOTAL CURRENT LIABILITIES
NON-CURRENT LIABILITIES
Notes
2018
$
2017
$
9
10
11
12
14
11
15
1,004,930
1,182,258
51,384
76,690
40,609
76,191
1,133,004
1,299,058
233,078
282,739
30,264,494
28,395,904
213,697
211,718
30,711,269
28,890,361
31,844,273
30,189,419
187,649
187,649
146,438
146,438
Borrowings
16
472,561
1,217,959
TOTAL NON-CURRENT LIABILITIES
TOTAL LIABILITIES
NET ASSETS
EQUITY
Issued capital
Foreign currency translation reserve
Share option reserve
Accumulated losses
TOTAL EQUITY
472,561
1,217,959
660,210
1,364,397
31,184,063
28,825,022
17
42,049,157
38,120,421
24
205,591
103,439
174,404
-
(11,174,124)
(9,469,803)
31,184,063
28,825,022
The above consolidated statement of financial position should be read in conjunction with the accompanying
notes.
30
Dome Gold Mines Ltd
and its controlled entities
Consolidated Statement of Changes in Equity
for the year ended 30 June 2018
Foreign
currency
translation
reserves
$
Share
option
reserve
$
Issued
capital
$
Balance at 1 July 2016
34,752,434
237,095
Transaction with owners
Ordinary shares issued
3,771,204
Transaction costs on issue of shares
(403,217)
Total transactions with owners
3,367,987
-
-
-
Other comprehensive income
Loss for the year
Total comprehensive loss for the year
-
-
-
(62,691)
-
(62,691)
Balance at 30 June 2017
38,120,421
174,404
Balance at 1 July 2017
38,120,421
174,404
Transaction with owners
Ordinary shares issued
4,440,854
Transaction costs on issue of shares
(512,118)
Share based payments
-
Total transactions with owners
3,928,736
-
-
-
-
Other comprehensive income
Loss for the year
Total comprehensive loss for the year
-
-
-
31,187
-
31,187
-
-
-
-
-
-
-
-
-
-
-
103,439
103,439
-
-
-
Accumulated
losses
$
Total
equity
$
(7,872,911)
27,116,618
-
-
-
-
3,771,204
(403,217)
3,367,987
(62,691)
(1,596,892)
(1,596,892)
(1,596,892)
(1,659,583)
(9,469,803)
28,825,022
(9,469,803)
28,825,022
-
-
-
-
-
4,440,854
(512,118)
103,439
4,032,175
31,187
(1,704,321)
(1,704,321)
(1,704,321)
(1,673,134)
Balance at 30 June 2018
42,049,157
205,591
103,439
(11,174,124)
31,184,063
The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes.
31
Dome Gold Mines Ltd
and its controlled entities
Consolidated Statement of Cash Flows
for the year ended 30 June 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Interest received
Cash received from other income
Cash paid to suppliers and employees
Interest paid
Other tax paid
Notes
2018
$
9,328
-
2017
$
15,931
37,111
(1,567,439)
(1,588,907)
(6,820)
(8,159)
-
(17,516)
Net cash used in operating activities
18
(1,573,090)
(1,553,381)
CASH FLOWS FROM INVESTING ACTIVITIES
Cash paid on deposit/advance payment
Cash received on release of bond/deposit
Cash received from disposal of property, plant & equipment
Purchase of property, plant & equipment
Exploration cost payments capitalised
Net cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issue of share capital
Cash paid on share issue costs
Repayment of borrowings
Net cash provided by financing activities
(665)
(115,966)
-
-
(54,608)
(1,658,344)
(1,713,617)
4,440,854
(569,442)
(763,076)
3,108,336
94,009
200
(9,293)
(697,969)
(729,019)
3,771,204
(345,893)
(278,924)
3,146,387
Net (decrease)/increase in cash and cash equivalents
(178,371)
863,987
Cash and cash equivalents at the beginning of the
financial year
Exchange differences on cash and cash equivalents
1,182,258
1,043
319,028
(757)
Cash and cash equivalents at the end of the financial
year
9
1,004,930
1,182,258
The above consolidated statement of cash flows should be read in conjunction with the accompanying notes.
.
32
Dome Gold Mines Ltd
and its controlled entities
Notes to the Consolidated Financial Statements
The Financial Report includes the consolidated financial statements and notes of Dome Gold Mines Ltd
and controlled entities (‘Group’).
1 GENERAL INFORMATION AND STATEMENT OF COMPLIANCE
The consolidated general purpose financial statements of the Group have been prepared in accordance
with the requirements of the Corporations Act 2001, Australian Accounting Standards and other
authoritative pronouncements of the Australian Accounting Standards Board. Compliance with Australian
Accounting Standards results in full compliance with the International Financial Reporting Standards
(IFRS) as issued by the International Accounting Standards Board (IASB).The Group is a for-profit entity
for the purpose of preparing the financial statements.
The consolidated financial statements for the year ended 30 June 2018 were approved and authorised for
issue by the board of directors on 13 September 2018 (see note 29).
Dome Gold Mines Limited is the Group’s ultimate parent company. Dome Gold Mines Ltd is a public
company limited by shares incorporated and domiciled in Australia on 8 July 2011. The registered office
is Suite 2, Level 8, 17-19 Bridge Street, Sydney 2000.
Dome Gold Mines Ltd is the parent company with 100% ownership of:
Magma Mines Pty Ltd;
Dome Mines Ltd (a company limited by shares incorporated in Fiji); and
Magma Mines Ltd (a company limited by shares incorporated in Fiji).
The principal activities of the Group during the financial year have been the continuing exploration and
evaluation of the following projects in Fiji:
SPL1451 Ono Island,
SPL1452 Nadrau; and
SPL1495 Sigatoka Ironsands.
2 CHANGES IN ACCOUNTING POLICIES
2.1 New and revised standards that are effective and adopted by the Group
The Group has adopted all of the new, revised or amended Accounting Standards and Interpretations
issued by the Australian Accounting Standards Board (AASB) that are mandatory for the current reporting
period. The adoption of these Accounting Standards and Interpretations did not have any significant
impact on the financial performance or position of the Group.
2.2 New and revised standards that are not yet adopted by the Group
AASB 9 Financial Instruments (effective from 1 January 2018)
AASB 9 replaces AASB 139 Financial instruments: Recognition and Measurement and addresses the
classification and measurement of financial assets and financial liabilities, including a new expected credit
loss model for calculation of impairment of financial assets, and new general hedge accounting
requirements. It also carries forward guidance on recognition and derecognition of financial instruments
from AASB 139.
Impairment
The Group does not expect the new standard to have a significant impact on the recognition of
impairment loss given the Group is at exploration stage and does not generate any revenue.
Hedge accounting
The Group does not apply hedge accounting hence no impact is expected.
33
Dome Gold Mines Ltd
and its controlled entities
Notes to the Consolidated Financial Statements
2 CHANGES IN ACCOUNTING POLICIES (CONTINUED)
2.2 New and revised Standards that are not yet adopted by the Group (continued)
Classification and measurement of financial assets and liabilities
The Group’s financial assets comprise mainly of cash and cash equivalents, bond receivables and other
receivables; financial liabilities comprise mainly of trade and other payables including loan from the third
party. As a result, the new classification requirements will have no material impact.
The Company intends to adopt the standard using the modified retrospective approach which means that
the cumulative impact of the adoption will be recognised in retained earnings as of 1 July 2018 and that
comparatives will not be restated.
Establishes a new revenue recognition model
AASB 15 Revenue from Contracts with Customers (effective from 1 January 2018)
AASB 15 replaces AASB 118 Revenue, AASB 111 Construction Contracts and some revenue-related
Interpretations:
Changes the basis for deciding whether revenue is to be recognised over time or at a point in time
Provides new and more detailed guidance on specific topics (e.g., multiple element arrangements,
variable pricing, rights of return, warranties and licensing)
Expands and improves disclosures about revenue
The Group is at exploration stage and derives nil revenue for the current period, as such, no revenue will
be recognised. The new standard is not expected to have a material impact on the transactions and
balances recognised in the financial statements. The Company intends to adopt the standard using the
modified retrospective approach which means that the cumulative impact of the adoption will be
recognised in retained earnings as of 1 July 2018 and that comparatives will not be restated.
AASB 16 Leases (effective from 1 January 2019)
AASB 16 replaces AASB 117 Leases and some lease-related Interpretations:
Requires all leases to be accounted for ‘on-balance sheet’ by lessees, other than short-term and low
value asset leases
Provides new guidance on the application of the definition of lease and on sale and lease back
accounting
Largely retains the existing lessor accounting requirements in AASB 117
Requires new and different disclosures about leases
The Group has operating lease commitments of 3 motor vehicles in Fiji and office lease in Australia (refer
to note 13). Given the relatively low value of motor vehicle minimum lease payments and the fact that the
current office lease terminates in April 2019, the potential impact on the financial statements is not
expected to be significant. The Company intends to adopt the new standard using the modified
retrospective approach which means that the cumulative impact of the adoption will be recognised in
retained earnings as of 1 July 2019 and that comparatives will not be restated.
In addition to the AASB 9, AASB 15 and AASB 16 discussed above, a number of additional amendments
have also been issued but are not effective for the current year end, which will be applicable to the Group,
but are unlikely to have a material impact on the financial statements, based on management’s initial
consideration.
34
Dome Gold Mines Ltd
and its controlled entities
Notes to the Consolidated Financial Statements
3 SUMMARY OF ACCOUNTING POLICIES
3.1 Overall considerations
The significant accounting policies that have been used in the preparation of these consolidated financial
statements are summarised below.
The consolidated financial statements have been prepared using the measurement bases specified by
Australian Accounting Standards for each type of asset, liability, income and expense. The measurement
bases are more fully described in the accounting policies below.
3.2 Basis of consolidation
The Group financial statements consolidate those of the parent company and all of its subsidiary
undertakings drawn up to 30 June 2018. The parent controls a subsidiary if it is exposed, or has rights, to
variable returns from its investment with the subsidiary and has the ability to affect those returns through
its power over the subsidiary.
All transactions and balances between Group companies are eliminated on consolidation, including
unrealised gains and losses on transactions between Group companies. Where unrealised losses on
intra-group asset sales are reversed on consolidation, the underlying asset is also tested for impairment
from a group perspective. Amounts reported in the financial statements of subsidiaries have been
adjusted where necessary to ensure consistency with the accounting policies adopted by the Group.
Profit or loss and other comprehensive income of subsidiaries acquired or disposed of during the period
are recognised from the effective date of acquisition, or up to the effective date of disposal, as applicable.
3.3 Business combination
The Group applies the acquisition method in accounting for business combinations.
The consideration transferred by the Group to obtain control of a subsidiary is calculated as the sum of
the acquisition-date fair values of assets transferred, liabilities incurred and the equity interests issued by
the Group, which includes the fair value of any asset or liability arising from a contingent consideration
arrangement. Acquisition costs are expensed as incurred.
The Group recognises identifiable assets acquired and liabilities assumed in a business combination
regardless of whether they have been previously recognised in the acquiree’s financial statements prior to
the acquisition. Assets acquired and liabilities assumed are generally measured at their acquisition-date
fair values.
Goodwill is stated after separate recognition of identifiable intangible assets. It is calculated as the excess
of the sum of (a) fair value of consideration transferred, (b) the recognised amount of any non-controlling
interest in the acquiree and (c) acquisition-date fair value of any existing equity interest in the acquiree,
over the acquisition-date fair values of identifiable net assets. If the fair values of identifiable net assets
exceed the sum calculated above, the excess amount (i.e. gain on a bargain purchase) is recognised in
profit or loss immediately.
3.4 Basis of measurement
The consolidated financial statements have been prepared on the historical cost basis.
35
Dome Gold Mines Ltd
and its controlled entities
Notes to the Consolidated Financial Statements
3 SUMMARY OF ACCOUNTING POLICIES (CONTINUED)
3.5 Foreign currency transactions and balances
Functional and presentation currency
The consolidated financial statements are presented in Australian dollars (AUD), which is also the
functional currency of the parent company.
Foreign currency transactions and balances
Foreign currency transactions are translated into the functional currency of the respective Group entity,
using the exchange rates prevailing at the dates of the transactions (spot exchange rate). Foreign
exchange gains and losses resulting from the settlement of such transactions and from the re-
measurement of monetary items at period end exchange rates are recognised in profit or loss.
Non-monetary items are not retranslated at period-end and are measured at historical cost (translated
using the exchange rates at the date of the transactions), except for non-monetary items measured at fair
value which are translated using the change rates at the date when fair value was determined.
Foreign operations
In the Group's financial statements, all assets, liabilities and transactions of Group entities with a
functional currency other than the AUD are translated into AUD upon consolidation. The functional
currency of the entities in the Group has remained unchanged during the reporting period.
On consolidation, assets and liabilities have been translated into AUD at the closing rate at the reporting
date. Goodwill and fair value adjustments arising on the acquisition of a foreign entity have been treated
as assets and liabilities of the foreign entity and translated into AUD at the closing rate. Income and
expenses have been translated into AUD at the average rate over the reporting period. Exchange
differences are charged/credited to other comprehensive income and recognised in the currency
translation reserve in equity. On disposal of a foreign operation the cumulative translation differences
recognised in equity are reclassified to profit or loss and recognised as part of the gain or loss on
disposal.
3.6 Segment Reporting
Determination and presentation of operating segments
The Group determines and presents operating segments based on the information that is provided
internally to the management.
An operating segment is a component of the Group that engages in business activities from which it may
earn revenues and incur expenses, including revenues and expenses that relate to transactions with any
of the Group’s other components. All operating segments’ operating results are regularly reviewed by the
Group’s management to make decisions about resources to be allocated to the segment and assess its
performance, and for which discrete financial information is available.
Segment results that are reported to the management include items directly attributable to a segment as
well as those that can be allocated on a reasonable basis. Unallocated items comprise mainly corporate
assets (primarily the Company’s headquarter), head office expenses, and income tax assets and
liabilities.
Segment capital expenditure is the total costs incurred during the period to acquire property, plant and
equipment, and intangible assets other than goodwill.
36
Dome Gold Mines Ltd
and its controlled entities
Notes to the Consolidated Financial Statements
3 SUMMARY OF ACCOUNTING POLICIES (CONTINUED)
3.7 Exploration and evaluation expenditure
Exploration and evaluation costs, including the costs of acquiring licences, are capitalised as exploration
and evaluation assets on an area of interest basis.
Exploration and evaluation assets are only recognised if the rights of the area of interest are current and
either:
the expenditures are expected to be recouped through successful development and exploitation of the
area of interest; or
activities in the area of interest have not at the reporting date, reached a stage which permits a
reasonable assessment of the existence or otherwise of economically recoverable reserves and
active and significant operations in, or in relation to, the area of interest are continuing.
Exploration and evaluation assets are assessed for impairment if sufficient data exists to determine
technical feasibility and commercial viability and facts and circumstances suggest that the carrying
amount exceeds the recoverable amount. For the purposes of impairment testing, exploration and
evaluation assets are allocated to cash generating units to which the exploration activity relates. The
cash generating unit shall not be larger than the area of interest.
Once the technical feasibility and commercial viability of the extraction of mineral resources in an area of
interest are demonstrable, exploration and evaluation assets attributable to that area of interest are first
tested for impairment and then reclassified from exploration and evaluation expenditure to mining
property and development assets within property, plant and equipment.
3.8 Property, plant and equipment
Plant and equipment and computer equipment
Plant and equipment (comprising fittings and furniture) and computer equipment are initially recognised at
acquisition cost or manufacturing cost, including any costs directly attributable to bringing the assets to
the location and condition necessary for it to be capable of operating in the manner intended by the
Group’s management.
Plant and equipment and computer equipment are measured on the cost basis less subsequent
depreciation and impairment losses.
Depreciation
The depreciable amount of all fixed assets is recognised on a straight-line basis to write down the cost
over the assets' estimated useful lives to the Group commencing from the time the asset is ready for use.
The depreciation rates and useful lives used for each class of depreciable assets are:
Class of fixed asset
Useful Lives Depreciation basis
Exploration computer equipment
2.5-4.2 years
Prime cost
Exploration furniture and fittings
3-8.3 years
Exploration plant and equipment
2.5-8.3 years
Office equipment
2-10 years
Prime cost
Prime cost
Prime cost
Gains or losses arising on the disposal of property, plant and equipment are determined as the difference
between the disposal proceeds and the carrying amount of the assets and are recognised in profit or loss
within other income or other expenses.
37
Dome Gold Mines Ltd
and its controlled entities
Notes to the Consolidated Financial Statements
3 SUMMARY OF ACCOUNTING POLICIES (CONTINUED)
3.9 Leased assets
Operating leases
All other leases are treated as operating leases. Where the Group is a lessee, payments on operating
lease agreements are recognised as an expense on a straight-line basis over the lease term. Associated
costs, such as maintenance and insurance, are expensed as incurred.
3.10 Income tax
The charge for current income tax expense is based on the profit for the period adjusted for any non-
assessable or disallowed items. It is calculated using tax rates that have been enacted or are
substantively enacted by the date of the statement of financial position.
Deferred tax is accounted for using the balance sheet liability method in respect of temporary differences
arising between the tax bases of assets and liabilities and their carrying amounts in the financial
statements. No deferred income tax will be recognised from the initial recognition of an asset or liability,
excluding a business combination, where there is no effect on accounting or taxable profit or loss.
Deferred tax is calculated at the tax rates that are expected to apply to the period when the asset is
realised or liability is settled. Deferred tax is credited in the income statement except where it relates to
items recognised directly to equity, in which case the deferred tax is adjusted directly against equity.
Deferred income tax assets are recognised to the extent that it is probable that future tax profits will be
available against which deductible temporary differences can be utilised.
The amount of benefits brought to account or which may be realised in the future is based on the
assumption that no adverse change will occur in income taxation legislation and the anticipation that the
economic entity will derive sufficient future assessable income to enable the benefit to be realised and
comply with the conditions of deductibility imposed by the law.
3.11 Revenue
Interest income is reported on an accruals basis using the effective interest method.
Refundable research and development costs are reported as a government grant through other income.
3.12 Goods and services tax (GST)
Revenues, expenses and assets are recognised exclusive of the amount of GST, except where the
amount of GST incurred is not recoverable from the Australian or Fiji Taxation Office. In these
circumstances, the GST is recognised as part of the cost of acquisition of the asset or as part of an item
of the expense. Receivables and payables in the balance sheet are shown inclusive of GST.
Cash flows are presented in the cash flow statement on a gross basis, except for the GST component of
investing and financing activities, which are disclosed as operating cash flows.
3.13 Cash and cash equivalents
Cash and cash equivalents comprise cash balances and call deposits with a maturity of three months or
less.
38
Dome Gold Mines Ltd
and its controlled entities
Notes to the Consolidated Financial Statements
3 SUMMARY OF ACCOUNTING POLICIES (CONTINUED)
3.14 Financial instruments
Financial assets and financial liabilities are recognised when the Group becomes a party to the
contractual provisions of the financial instrument, and are measured initially at fair value adjusted by
transactions costs, except for those carried at fair value through profit or loss, which are measured initially
at fair value. Subsequent measurement of financial assets and financial liabilities are described below.
Financial assets are derecognised when the contractual rights to the cash flows from the financial asset
expire, or when the financial asset and all substantial risks and rewards are transferred. A financial
liability is derecognised when it is extinguished, discharged, cancelled or expires.
Classification and subsequent measurement of financial assets
Financial assets in the scope of AASB 139 Financial Instruments: Recognition and Measurement are
classified as either financial assets at fair value through profit or loss, loans and receivables, held-to-
maturity investments, or available-for-sale investments, as appropriate. The Group determines the
classification of its financial assets after initial recognition and, when allowed and appropriate, re-
evaluates this designation at each financial period end.
Loans and other receivables are non-derivative financial assets with fixed or determinable payments that
are not quoted in an active market. After initial recognition, these are measured at amortised cost using
the effective interest method, less provision for impairment. Discounting is omitted where the effect of
discounting is immaterial. The Group’s cash and cash equivalents, trade and most other receivables fall
into this category of financial instruments.
Individually significant receivables are considered for impairment when they are past due or when other
objective evidence is received that a specific counterparty will default. Receivables that are not
considered to be individually impaired are reviewed for impairment in groups, which are determined by
reference to the industry and region of a counterparty and other credit risk characteristics. The
impairment loss estimate is then based on recent historical counterparty default rates for each identified
group.
Classification and subsequent measurement of financial liabilities
The Group’s financial liabilities include borrowings and trade and other payables, which are measured
subsequently at amortised cost using the effective interest method.
Trade and other payables, including accruals for goods received but not yet billed, are recognised when
the Group becomes obliged to make future payments principally as a result of the purchase or goods and
services.
Trade payables are initially measured at fair value, and are subsequently measured at amortised cost,
using the effective interest rate method.
39
Dome Gold Mines Ltd
and its controlled entities
Notes to the Consolidated Financial Statements
3 SUMMARY OF ACCOUNTING POLICIES (CONTINUED)
3.15 Significant accounting judgments and key estimates
The preparation of financial reports requires management to make judgements, estimates and
assumptions that affect the application of accounting policies and the reported amounts of assets,
liabilities, income and expense. Estimates and assumptions are continuously evaluated and are based on
management’s experience and other factor, including expectations of future events that are believed to be
reasonable under the circumstances. However, actual outcomes would differ from these estimates if
different assumptions were used and different conditions existed.
In particular, the Group has identified the following areas where significant judgements, estimates and
assumptions are required, and where actual results were to differ, may materially affect the financial
position or financial results reported in future periods.
(i) Exploration and evaluation expenditure (Note 14)
All capitalised exploration and evaluation expenditure ($30,264,494 at 30 June 2018) (2017: $28,395,904)
has been capitalised on the basis that:
the expenditures are expected to be recouped through successful development and exploitation of
the area of interest; or
activities in the area of interest have not at the reporting date, reached a stage which permits a
reasonable assessment of the existence or other wise of economically recoverable reserves and
active and significant operations in, or in relation to, the area of interest are continuing.
The renewal of exploration licences is expected to be a routine process up until such a point as the
entity is able to apply for a mining licence. As at the date of reporting, all licences have been renewed
and are up to date.
(ii) Going concern (Note 3.16)
(iii) Share-based payments (Note 3.20)
3.16 Going concern
The consolidated financial statements have been prepared on a going concern basis which contemplates
the realisation of assets and settlement of liabilities in the ordinary course of business.
The Group has incurred a trading loss of $1,704,321 (2017: $1,596,892), used $3,231,434 (2017:
$2,251,350) of net cash in operations including payments for exploration during the year ended 30 June
2018, and has a cash balance of $1,004,930 at 30 June 2018 (2017: $1,182,258). These conditions give
rise to a material uncertainty that may cast significant doubt upon the Group's ability to continue as a
going concern. The ongoing operation of the Group is dependent upon:
the Group raising additional funding from shareholders or other parties; and/or
the Group reducing expenditure in-line with available funding.
The Directors have prepared cash flow projections that support the ability of the Group to continue as a
going concern. These cash flow projections assume the Group obtains sufficient additional funding from
shareholders or other parties. If such funding is not achieved, the Group plans to reduce expenditures
significantly.
In the event that the Group does not obtain additional funding and/or reduce expenditure in-line with
available funding, it may not be able to continue its operations as a going concern and therefore may not
be able to realise its assets and extinguish its liabilities in the ordinary course of operations and at the
amounts stated in the financial report.
40
Dome Gold Mines Ltd
and its controlled entities
Notes to the Consolidated Financial Statements
3 SUMMARY OF ACCOUNTING POLICIES (CONTINUED)
3.17 Impairment testing of non-current assets
For impairment assessment purposes, assets are grouped at the lowest levels for which there are largely
independent cash inflows (cash-generating units). As a result, some assets are tested individually for
impairment and some are tested at cash-generating unit level.
All other individual assets or cash-generating units are tested for impairment whenever events or changes
in circumstances indicate that the carrying amount may not be recoverable.
An impairment loss is recognised for the amount by which the asset’s or cash-generating unit's carrying
amount exceeds its recoverable amount, which is the higher of fair value less costs to sell and value-in-
use. To determine the value-in-use, management estimates expected future cash flows from each cash-
generating unit and determines a suitable interest rate in order to calculate the present value of those
cash flows. The data used for impairment testing procedures are directly linked to the Group's latest
approved budget, adjusted as necessary to exclude the effects of future reorganisations and asset
enhancements. Discount factors are determined individually for each cash-generating unit and reflect
management’s assessment of respective risk profiles, such as market and asset-specific risks factors.
With the exception of goodwill, all assets are subsequently reassessed for indications that an impairment
loss previously recognised may no longer exist. An impairment charge is reversed if the cash-generating
unit’s recoverable amount exceeds its carrying amount.
3.18 Equity and reserves
Share capital represents the fair value of shares that have been issued. Any transaction costs associated
with the issuing of shares are deducted from share capital, net of any related income tax benefits.
Other components of equity include the following:
Foreign currency translation reserve – comprises foreign currency translation differences arising on
the translation of financial statements of the Group's foreign entities into AUD; and
Share option reserve – comprises fair value of options granted to the Company’s Directors and
contractor; and
Retained earnings include all current and prior period retained losses.
3.19 Employee benefits
Short-term employee benefits
Short-term employee benefits are benefits, other than termination benefits, that are expected to be settled
wholly within twelve (12) months after the end of the period in which the employees render the related
service. Examples of such benefits include wages and salaries, non-monetary benefits and accumulating
sick leave. Short-term employee benefits are measured at the undiscounted amounts expected to be
paid when the liabilities are settled.
41
Dome Gold Mines Ltd
and its controlled entities
Notes to the Consolidated Financial Statements
3 SUMMARY OF ACCOUNTING POLICIES (CONTINUED)
3.19 Employee benefits (continued)
Other long-term employee benefits
The Group’s liabilities for annual leave are included in other long term benefits as they are not expected
to be settled wholly within twelve (12) months after the end of the period in which the employees render
the related service. They are measured at the present value of the expected future payments to be made
to employees. The expected future payments incorporate anticipated future wage and salary levels,
experience of employee departures and periods of service, and are discounted at rates determined by
reference to market yields at the end of the reporting period on high quality corporate bonds that have
maturity dates that approximate the timing of the estimated future cash outflows. Any re-measurements
arising from experience adjustments and changes in assumptions are recognised in profit or loss in the
periods in which the changes occur.
The Group presents employee benefit obligations as current liabilities in the statement of financial
position if the Group does not have an unconditional right to defer settlement for at least twelve (12)
months after the reporting period, irrespective of when the actual settlement is expected to take place.
3.20 Share-based payments
The Group operates equity-settled share-based remuneration plans for its Directors and contractor. None
of the Group’s plans feature any options for a cash settlement.
All compensation or goods and services received in exchange for the grant of any share-based payment
are measured at their fair values. Where the Company’s Directors and contractor are rewarded using
share-based payments, the fair values are determined indirectly by reference to the fair value of the
equity instruments granted. This fair value is appraised at the grant date and excludes the impact of non-
market vesting conditions (for example profitability and sales growth targets and performance conditions).
All share-based remuneration is ultimately recognised as an expense in profit or loss with a
corresponding credit to share option reserve. If vesting periods or other vesting conditions apply, the
expense is allocated over the vesting period, based on the best available estimate of the number of share
options expected to vest.
Upon exercise of share options, the proceeds received net of any directly attributable transaction costs
are allocated to share capital.
4 OTHER INCOME
Interest income
Total other income
2018
$
9,376
9,376
2017
$
16,004
16,004
42
Dome Gold Mines Ltd
and its controlled entities
Notes to the Consolidated Financial Statements
5 OTHER EXPENSES
Consultant expenses
Loss on disposal of property, plant & equipment
Office expenses
Other expenses
Total other expenses
6
FINANCE COSTS
Interest expenses for borrowings at amortised cost
- Related party
- Third party
7
INCOME TAX
(a) Income tax expense/(benefit)
Current tax
Deferred tax
(b) Reconciliation of income tax expense to prima
facie tax payable:
Loss before tax
Prima facie income tax benefit at the Australian tax
rate of 27.5% (2017: 27.5%)
Increase/(decrease) in income tax expense due to:
Assessable income/ non-deductible expenses
Tax loss not recognised
Effect of net deferred tax assets/(liabilities) not
recognised
Impact of overseas tax differential
Income tax expense/(benefit)
(c) Unrecognised deferred tax assets
Deferred tax balances have not been recognised in
respect of the following items:
Tax loss
Other deferred tax assets
Deferred tax liability in relation to exploration costs
Net deferred tax assets not recognised
2018
$
613,297
1,339
277,340
146,758
1,038,734
2,604
22,624
25,228
-
-
-
2017
$
625,309
3,572
279,913
118,055
1,026,849
4,726
48,226
52,952
-
-
-
(1,704,321)
(1,596,892)
(468,688)
(439,145)
15,701
453,581
(1,879)
1,285
-
10,724
441,320
(20,235)
7,336
-
2,656,883
774,945
(1,827,397)
1,604,431
2,237,637
634,043
(1,407,515)
1,464,165
43
Dome Gold Mines Ltd
and its controlled entities
Notes to the Consolidated Financial Statements
8
LOSS PER SHARE
Basic and diluted loss per share have been
calculated using:
Loss for the year attributable to equity holders of
the Company
2018
$
2017
$
(1,704,321)
(1,596,892)
No of Shares
Weighted average number of shares at the end of
the year used in basic and diluted loss per share
256,514,342
236,975,726
Basic and diluted loss per share (cents)
(0.66)
(0.67)
As the Group is loss making, none of the potentially dilutive securities are currently dilutive.
9 CASH AND CASH EQUIVALENTS
For the purpose of the Statement of Cash Flows, cash includes cash on hand, cash at bank and short
term deposits at call, net of any outstanding bank overdraft, if any. Cash at the end of the year as shown
in the Statement of Cash Flows is reconciled to the related items in the Statement of Financial Position as
follows
Cash at bank
Total cash and cash equivalents
1,004,930
1,004,930
1,182,258
1,182,258
10 TRADE AND OTHER RECEIVABLES
Other receivables
Other tax receivables
Total other receivables
11 OTHER ASSETS
Current
Prepayments
Total other current assets
Non-current
Bank guarantee deposit
Bond deposit
Other capital costs
Total other non-current assets
2,526
48,858
51,384
76,690
76,690
114,543
98,324
830
213,697
797
39,812
40,609
76,191
76,191
114,543
96,356
819
211,718
44
Dome Gold Mines Ltd
and its controlled entities
Notes to the Consolidated Financial Statements
12 PROPERTY, PLANT AND EQUIPMENT
Exploration computer equipment
At cost
Less accumulated depreciation (depreciation is
capitalised as deferred expenditure)
Total exploration computer equipment
Exploration furniture and fittings
At cost
Less accumulated depreciation (depreciation is
capitalised as deferred expenditure)
Total exploration furniture and fittings
Exploration plant and equipment
At cost
Less accumulated depreciation (depreciation is
capitalised as deferred expenditure)
Total exploration plant and equipment
Office equipment
At cost
Less accumulated depreciation
Total office equipment
Total
2018
$
6,832
(3,034)
3,798
13,904
(7,776)
6,128
480,282
(286,947)
193,335
45,141
(15,324)
29,817
233,078
2017
$
7,435
(2,992)
4,443
12,832
(6,409)
6,423
495,271
(230,954)
264,317
24,744
(17,188)
7,556
282,739
Movements in carrying amounts
Movements in the carrying amounts for each class of property, plant and equipment between the
beginning and the end of the current financial year:
Exploration
computer
equipment
$
Exploration
furniture
and fittings
$
Exploration
plant and
equipment
$
Office
equipment
$
6,131
4,564
(3,206)
(54)
7,435
(4,841)
(644)
2,443
50
(2,992)
12,580
487
-
(235)
12,832
(4,966)
(1,536)
-
93
(6,409)
502,543
1,885
-
(9,157)
495,271
(156,061)
(77,581)
-
2,688
(230,954)
50,425
2,357
(28,038)
-
24,744
(31,711)
(9,743)
24,266
-
(17,188)
Total
$
571,679
9,293
(31,244)
(9,446)
540,282
(197,579)
(89,504)
26,709
2,831
(257,543)
4,443
6,423
264,317
7,556
282,739
Gross carrying amount
Balance at 1 July 2016
Additions
Disposals
Net exchange difference
Balance at 30 June 2017
Depreciation and impairment
Balance at 1 July 2016
Depreciation
Disposals
Net exchange difference
Balance at 30 June 2017
Carrying amount as at 30
June 2017
45
Dome Gold Mines Ltd
and its controlled entities
Notes to the Consolidated Financial Statements
12 PROPERTY, PLANT AND EQUIPMENT (CONTINUED)
Movements in carrying amounts (continued)
Exploration
computer
equipment
$
Exploration
furniture
and fittings
$
Exploration
plant and
equipment
$
Office
equipment
$
7,435
2,995
(972)
(2,679)
53
6,832
(2,992)
(997)
972
13
(30)
(3,034)
12,832
1,382
(482)
-
172
13,904
(6,409)
(1,763)
482
-
(86)
(7,776)
495,271
19,624
(43,809)
2,679
6,517
480,282
(230,954)
(80,588)
27,540
(13)
(2,932)
(286,947)
24,744
30,607
(10,210)
-
-
45,141
(17,188)
(7,008)
8,872
-
-
(15,324)
Total
$
540,282
54,608
(55,473)
-
6,742
546,159
(257,543)
(90,356)
37,866
-
(3,048)
(313,081)
3,798
6,128
193,335
29,817
233,078
Gross carrying amount
Balance at 1 July 2017
Additions
Disposals
Reallocation
Net exchange difference
Balance at 30 June 2018
Depreciation and impairment
Balance at 1 July 2017
Depreciation
Disposals
Reallocation
Net exchange difference
Balance at 30 June 2018
Carrying amount as at 30
June 2018
13 LEASES
Operating leases as lessee
The Group has operating lease commitments of 3 motor vehicles in Fiji and office lease in Australia.
The motor vehicles rental contract has a non-cancellable term of three years. The office lease contract
has a non-cancellable term of two years and one month.
The future minimum lease payments are as follows:
30 June 2018
30 June 2017
Within 1 year
$
Minimum Lease Payments Due
After 3 years
$
1-3years
$
183,829
210,791
21,613
202,905
-
1,939
Total
$
205,442
415,635
Lease expenses during the year amounted to $210,598 (2017: $219,260) representing the minimum
lease payments.
46
Dome Gold Mines Ltd
and its controlled entities
Notes to the Consolidated Financial Statements
14 CAPITALISED EXPLORATION AND EVALUATION EXPENDITURE
Balance at 1 July 2016
Expenditure capitalised during the year
Balance at 30 June 2017
Balance at 1 July 2017
Expenditure capitalised during the year
Balance at 30 June 2018
$
27,689,854
706,050
28,395,904
28,395,904
1,868,590
30,264,494
The Directors have considered the requirements of AASB 6: Exploration for and Evaluation of Mineral
Resources, and reviewed the carrying value of capitalised exploration and evaluation expenditure. Based
on this review, the Directors consider the carrying value of each area of interest is supported by the
anticipated future value. Furthermore, there are no indicators that the carrying values are impaired as at
30 June 2018.
15 TRADE AND OTHER PAYABLES
Current
Accruals
Trade creditors
Other payables
Provisions
Total other payables
16 BORROWINGS
Non-current
Loan from third party
Loan from related party
Total borrowings
2018
$
114,149
30,220
18,037
25,243
187,649
2017
$
100,692
12,689
12,683
20,374
146,438
472,561
-
472,561
1,119,938
98,021
1,217,959
The outstanding loan payable to a third party as at 30 June 2018 is $472,561 (2017: $1,119,938). The
agreed interest rate on the unsecured loan is 5%. The facility is not secured. The facility with a third party
available as at 30 June 2018 is $527,439 (2017: $Nil). The facility was extended during the reporting
period from 31 December 2018 to 31 December 2020.
There is no outstanding loan payable to a related party as at 30 June 2018 (2017: $98,021), refer to Note
20. The total facility of the Company with a related party is $3,500,000 as at 30 June 2018 (2017:
$3,500,000). The agreed interest rate on the unsecured loan is 5%. The facility is not secured. The facility
was extended during the reporting period from 31 December 2018 to 31 December 2020.
47
Dome Gold Mines Ltd
and its controlled entities
Notes to the Consolidated Financial Statements
17
ISSUED CAPITAL
2018
2017
Ordinary shares fully paid
269,031,700
42,049,157
246,827,429
38,120,421
Shares
$
Shares
$
Movements in ordinary share capital
Ordinary shares
Balance at 1 July 2016
Fully paid ordinary shares issued 9 August 2016 at $0.20
Fully paid ordinary shares issued 16 August 2016 at $0.21
Fully paid ordinary shares issued 16 August 2016 at $0.25
Fully paid ordinary shares issued 5 April 2017 at $0.215
Fully paid ordinary shares issued 19 June 2017 at $0.20
Fully paid ordinary shares issued 29 June 2017 at $0.20
Less costs of issue
No. of
shares
$
228,274,086
34,752,434
7,500,000
1,188,058
502,840
1,567,500
3,973,976
3,820,969
-
1,500,000
249,492
125,710
337,013
794,795
764,194
(403,217)
Balance at 30 June 2017
246,827,429
38,120,421
Balance at 1 July 2017
Fully paid ordinary shares issued 15 November 2017 at $0.20
Fully paid ordinary shares issued 28 November 2017 at $0.20
246,827,429
38,120,421
2,477,625
1,454,165
495,525
290,833
Fully paid ordinary shares issued 14 December 2017 at $0.20
5,231,512
1,046,302
Fully paid ordinary shares issued 3 January 2018 at $0.20
Fully paid ordinary shares issued 22 January 2018 at $0.20
Fully paid ordinary shares issued 20 February 2018 at $0.20
3,000,000
4,377,489
561,990
600,000
875,498
112,398
Fully paid ordinary shares issued 2 May 2018 at $0.20
5,101,490
1,020,298
Less costs of issue
Balance at 30 June 2018
-
(512,118)
269,031,700
42,049,157
The share capital of Dome Gold Mines consists only of fully paid ordinary shares. All shares are equally
eligible to receive dividends and the repayment of capital and represent one vote at the shareholders'
meeting of Dome Gold Mines.
48
Dome Gold Mines Ltd
and its controlled entities
Notes to the Consolidated Financial Statements
18 CASH FLOW INFORMATION
Cash at the end of the financial year as shown in the Statement of Cash Flows is reconciled to the
related items in the Statement of Financial Position as follows:
Reconciliation of cash
Cash and cash equivalents
Reconciliation of cash flow from operations
with loss from ordinary activities after income
tax
Loss from ordinary activities after income tax
Non-cash flows in loss from ordinary activities
Depreciation and amortisation
Loss on sale of property, plant & equipment
Changes in other assets and liabilities
(Increase)/decrease in trade receivables and other
assets
Increase in trade and other payables
Share based payments
2018
$
2017
$
1,004,930
1,182,258
(1,704,321)
(1,596,892)
7,008
1,339
(5,579)
(15,121)
40,145
103,439
9,742
3,572
(29,898)
35,345
24,750
-
Net cash used in operating activities
(1,573,090)
(1,553,381)
19 REMUNERATION OF AUDITORS
During the year, the following services were paid or payable for services provided by the auditor of the
company:
Grant Thornton Audit Pty Ltd
Audit services
Total remuneration of auditor
60,000
60,000
50,000
50,000
20 RELATED PARTY TRANSACTIONS
(a) The Group has a loan from a related party as described below.
Loan from related party
Beginning of the year
Loans advanced
Loan repayments
Interest withholding tax
Interest charged
End of period
98,021
-
(99,870)
(755)
2,604
-
100,219
-
(6,924)
-
4,726
98,021
The agreed interest on the loans is 5%. It is not secured and repayable in full by 31 December 2020.
49
Dome Gold Mines Ltd
and its controlled entities
Notes to the Consolidated Financial Statements
20 RELATED PARTY TRANSACTIONS (CONTINUED)
(b) Transactions with key management personnel
Key management of the Group are Dome’s CEO and members of Board of directors. Key management
personnel remuneration is shown in the table below:
Short term employee benefits
Cash salaries and fees
Other fees
Total short term employee benefits
Post-employment benefits
Superannuation
Total post-employment benefits
Share-based payments
2018
$
296,004
-
296,004
49,996
49,996
60,843
2017
$
306,757
24,000
330,757
67,443
67,443
-
Total remuneration
406,843
398,200
There are no other related party transactions during the year ended 30 June 2018.
21 COMMITMENTS AND CONTINGENCIES
Minimum tenement expenditure requirements
Within one year
Between one to five years
Total
2018
$
378,145
224,422
602,567
2017
$
-
1,698,408
1,698,408
The minimum tenement expenditure requirements are guidelines only by the Mineral Resources
Department in Fiji.
SPL 1451 is valid until 12 February 2020, SPL 1452 is valid until 12 February 2019, and SPL 1495 is in
the process of being renewed at the date of this report. Dome continues to retain ownership of SPL 1495
until a decision of renewal is made, accordingly no commitments have been included above as the terms
of the tenement license has not been formally approved. Management consider the risk of this not being
renewed to be remote.
Guarantees
The Group has three bank guarantees totalling $155,077 as at 30 June 2018 (2017: $154,540).
There are no other contingent assets or liabilities as at the date of this financial report.
50
Dome Gold Mines Ltd
and its controlled entities
Notes to the Consolidated Financial Statements
22 SEGMENT REPORTING
Segment information is presented in respect of the Group’s management and internal reporting structure.
Transactions with business segments are determined on an arm’s length basis.
Segment results, assets and liabilities include items directly attributable to a segment as well as those
that can be allocated on a reasonable basis. Unallocated items comprise mainly income earning assets
and revenue, interest bearing loans, borrowings and expenses, and corporate assets and expenses.
Business segments
For the year ended 30 June 2018 the Group principally operated in Fiji in the mineral exploration sector.
During the year ended 30 June 2018 management has re-assessed how financial information is
presented to the chief operating decision makers. This re-assessment is reflective of the progress being
made in exploration activity and the need to distinguish between the Group’s ironsand and gold projects.
The Group now has two reportable segments, as described below. Comparative financial information has
been restated to reflect this change.
Operating Segment
Ironsand Project
$
Gold Projects
$
Unallocated
$
Consolidated
total
$
30 June 2017
Segment revenue
Finance income
Total revenue
Depreciation
475
475
-
250
250
-
15,279
15,279
(9,742)
16,004
16,004
(9,742)
Segment profit/(loss)
(11,673)
(8,275)
(1,576,944)
(1,596,892)
Segment assets
27,231,839
1,606,794
1,350,786
30,189,419
Segment liabilities
2,085,439
1,461,666
(2,182,708)
1,364,397
30 June 2018
Segment revenue
Finance income
Total revenue
Depreciation
Share-based payments
481
481
-
-
252
252
-
-
8,643
8,643
9,376
9,376
(7,008)
(7,008)
(103,439)
(103,439)
Segment profit/(loss)
(9,291)
(8,514)
(1,686,516)
(1,704,321)
Segment assets
27,869,488
2,822,607
1,152,178
31,844,273
Segment liabilities
2,451,407
2,388,863
(4,180,060)
660,210
51
Dome Gold Mines Ltd
and its controlled entities
Notes to the Consolidated Financial Statements
22 SEGMENT REPORTING (CONTINUED)
Reconciliation of reportable segment profit & loss, assets and liabilities
Loss before tax
Loss before tax for reportable segment
Other loss before tax unallocated
Consolidated loss before tax
Assets
Total assets for reportable segments
Intercompany eliminations
Other assets unallocated
Consolidated assets
Liabilities
Total liabilities for reportable segments
Intercompany eliminations
Other liabilities unallocated
Consolidated liabilities
23 PARENT ENTITY DISCLOSURES
2018
$
2017
$
(17,805)
(1,686,516)
(1,704,321)
30,692,095
(5,109,973)
6,262,151
31,844,273
4,840,270
(5,109,973)
929,913
660,210
(19,948)
(1,576,944)
(1,596,892)
28,838,633
(3,877,282)
5,228,068
30,189,419
3,547,105
(3,877,282)
1,694,574
1,364,397
As at and throughout the financial year ended 30 June 2018 the parent entity of the Group was Dome
Gold Mines Ltd.
Statement of profit or loss and other
comprehensive income
Net loss for the year
Other comprehensive income
Total comprehensive loss
Statement of financial position
Current assets
Non-current assets
Total assets
Current liabilities
Non-current liabilities
Total liabilities
Net assets
Equity
Issued capital
Accumulated losses
Foreign currency translation reserve
Share option reserve
Total equity
2018
$
(2,004,947)
36,202
(1,968,745)
5,783,482
25,832,627
31,616,109
129,805
472,561
602,366
31,013,743
42,049,157
(11,108,615)
(30,238)
103,439
31,013,743
2017
$
(1,571,625)
(68,786)
(1,640,411)
5,090,469
25,220,542
30,311,011
142,739
1,217,959
1,360,698
28,950,313
38,120,421
(9,103,668)
(66,440)
-
28,950,313
The Directors are of the opinion that no contingencies existed at, or subsequent to year end.
52
Dome Gold Mines Ltd
and its controlled entities
Notes to the Consolidated Financial Statements
24 SHARE-BASED PAYMENT
During the year ended 30 June 2018, the Group had two share-based payment arrangements. Both will
be settled in equity.
Options were granted to non-executive Directors and a contractor respectively under each scheme as
part of their remuneration packages. Options were granted for no consideration and carry no dividends or
voting rights when exercised. Options under both schemes vest on issue date. Each option allows the
holder to purchase one ordinary share at the price determined at grant date.
Share options and weighted average exercise prices are as follows for the reporting periods presented:
Options issued to directors
Options issued to contractors
Weighted
average
exercise price
($)
-
-
-
-
-
-
0.45
-
-
-
0.45
-
0.45
Number of
shares
-
-
-
-
-
-
1,500,000
-
-
-
1,500,000
-
1,500,000
Weighted
average
exercise price
($)
-
-
-
-
-
-
0.45
-
-
-
0.45
-
0.45
Number of
shares
-
-
-
-
-
-
1,000,000
-
-
-
1,000,000
-
1,000,000
Outstanding at 1 July 2016
Granted
Forfeited
Exercised
Expired
Outstanding at 30 June 2017
Granted
Forfeited
Exercised
Expired
Outstanding at 30 June 2018
Exercisable at 30 June 2017
Exercisable at 30 June 2018
The fair values of options granted were determined using a variation of the Black-Scholes option pricing
model. The fair value is appraised at the grant date and excludes the impact of non-market vesting
conditions.
The following principal assumptions were used in the valuation:
Valuation assumptions
Grant date
Vesting period ends
Share price at date of grant
Expected volatility
Option life
Dividend yield
Risk free investment rate
Weighted average fair value at grant date
Weighted average exercise price at grant date
Exercisable from
Exercisable to
Options issued to
directors
24 November 2017
27 July 2020
$0.21
61.74%
977 days
-
1.92%
$0.04
$0.45
24 November 2017
27 July 2020
Options issued to
contractors
24 November 2017
31 December 2020
$0.21
58.44%
1,134 days
-
1.92%
$0.04
$0.45
24 November 2017
31 December 2020
The underling expected volatility was determined by reference to historical data of the Company’s shares
over a period of time. No special features inherent to the options granted were incorporated into
measurement of fair value.
In total, $103,439 (2017: Nil) expenses, all of which are related to equity-settled share-based payment
transactions, have been included in profit or loss and credited to share option reserve.
53
Dome Gold Mines Ltd
and its controlled entities
Notes to the Consolidated Financial Statements
25 POST-REPORTING DATE EVENTS
Subsequent to the end of the financial year:
SPL 1495 Sigatoka Iron Sand Project
The 3-year licence period expired on July 13, 2018, so notification was made to the Mineral Resources
Department (MRD) of the Company’s intention to apply for renewal of the SPL1495 in early June 2018
and an application for renewal of SPL1495 for a further 3-year period for the licence was submitted to
MRD on 6 July 2018. On Wednesday September 5, 2018 the Director of the MRD confirmed their full
support for the renewal and advised that due to new legal requirements, the Company needed to obtain a
letter from the Public Trustee that they had no objection to the renewal. On September 7, 2018 a meeting
was held with the Public Trustee, Manager of Estates & Trusts responsible for five beneficiaries of the
Work Estate freehold who confirmed her office supported the SPL1495 renewal, and will immediately
seek the consent of the five beneficiaries. Since the licence remains in force during the renewal process,
it is planned that sonic drilling will resume in September 2018 with completion of the updated JORC 2012
report during December 2018.
In July 2018, the Company sought expressions of interest for completion of a Definitive Feasibility Study
(DFS) from five major engineering firms with experience in heavy mineral sand deposit mining and
processing operations. One international group, IHC Robbins, an affiliate of Royal IHC of the Netherlands
(IHC), agreed to enter into a Heads of Agreement with Dome and undertake the DFS as the first part of a
developing strategic relationship between the companies.
SPL 1451 Ono Island Project
Assays for all holes ONODDH001 to ONODDH007 were carried out by ALS Laboratories. Drill hole
ONODDH001 (Naqara East), returned anomalous copper assays (to 0.3% Cu) and anomalous
molybdenum assays (to 0.2% Mo). The best Mo intercept is 5.05 m @ 0.0643% (643 ppm Mo), from 323
to 328.05 m. This intercept comprises 5 contiguous one metre samples ranging from 110 ppm to 2040
ppm Mo.
The gold-silver assay results are slightly anomalous within areas of strong alteration and sulphide
mineralisation, but are well below economic levels, with maximum assay values of 0.036 g/t Au and 3.6
g/t Ag.
The elevated Cu and Mo and weakly anomalous Au and Ag indicates a metal-bearing epithermal system
is present at Naqara East, and that further exploration drilling could define gold mineralisation nearby.
In summary, a large sulphide-bearing system weakly anomalous in several metals has been defined at
Naqara East prospect on Ono Island, SPL 1451. This system has many similarities to other Pacific Rim
gold-copper deposits. The strong epithermal alteration, sulphide mineralisation, elevated Cu-Mo and
weakly anomalous Au-Ag in drill core samples is encouraging. Additional systematic drilling is
recommended to discover anomalous gold zones within these large sulphide bodies.
No other matters or circumstances have arisen since the end of the year that have significantly affected
or may significantly affect the operations of the Group, the results of those operations, or the state of
affairs of the Group in future financial years.
54
Dome Gold Mines Ltd
and its controlled entities
Notes to the Consolidated Financial Statements
26 SUBSIDIARIES
Particulars in relation to controlled entities:
Controlled entities
Dome Mines Limited
Magma Mines Pty Ltd
Magma Mines Limited
27 FINANCIAL INSTRUMENT RISK
Country of
incorporation
Company interest in
ordinary shares
2018
%
100
100
100
2017
%
100
100
100
Fiji
Australia
Fiji
27.1 Risk management objectives and policies
The Group is exposed to various risks in relation to financial instruments. The Group's financial assets
and liabilities by category are summarised in note 3.14. The main types of risks are market risk, credit risk
and liquidity risk.
The Group's risk management is coordinated by management, in close co-operation with the board of
directors, and focuses on actively securing the Group's short to medium term cash flows by minimising
the exposure to financial markets.
The Group does not actively engage in the trading of financial assets for speculative purposes nor does it
write options. The most significant financial risks to which the Group is exposed are described below.
The Group is exposed to market risk through its use of financial instruments and specifically to currency
risk and certain other price risks, which result from both its operating and investing activities.
27.2 Market risk analysis
The Group is exposed to market risk through its use of financial instruments and specifically to currency
risk, interest rate risk and certain other price risks, which result from both its operating and investing
activities.
Foreign currency sensitivity
Most of the Group's transactions are carried out in AUD. Exposures to currency exchange rates arise
from the Group's overseas purchases, which are primarily denominated in Fijian dollars (FJD). To
mitigate the Group's exposure to foreign currency risk, non-AUD cash flows are monitored.
The following table illustrates the sensitivity of profit in regards to the Group's financial assets and
financial liabilities and the AUD/FJD exchange rate 'all other things being equal'. It assumes a +/- 5%
change of the AUD/FJD exchange rate for the year ended 30 June 2018. This percentage has been
determined based on the average market volatility in exchange rates in the previous 12 months. The
sensitivity analysis is based on the Group's foreign currency financial instruments held at each reporting
date and also takes into account forward exchange contracts that offset effects from changes in currency
exchange rates.
If the AUD had strengthened against the FJD by 5% (2017: 5%) then this would have had the following
impact:
30 June 2018
30 June 2017
Profit for the year
$
-
-
Equity
$
227,097
168,726
55
Dome Gold Mines Ltd
and its controlled entities
Notes to the Consolidated Financial Statements
27 FINANCIAL INSTRUMENT RISK (CONTINUED)
27.2 Market risk analysis (continued)
If the AUD had weakened against the FJD by 5% (2017: 5%) then this would have had the following
impact:
30 June 2018
30 June 2017
Profit for the year
$
-
-
Equity
$
(227,097)
(168,726)
Exposures to foreign exchange rates vary during the year depending on the volume of overseas
transactions. Nonetheless, the analysis above is considered to be representative of the Group's
exposure to currency risk.
Interest rate sensitivity
Interest risk arises from the use of interest bearing financial instruments. It is the risk that the fair value or
future cash flows of a financial instrument will fluctuate because of changes in interest rates (interest rate
risk).
The Group's policy is to minimise interest rate cash flow risk exposures on financing. Borrowings are
therefore usually at fixed rates. At 30 June 2018, the Group is not exposed to changes in market interest
rates through borrowings as all borrowings are at fixed interest rates.
At 30 June 2018, the Group’s exposure to cash flow interest relates primarily to cash at bank of the Group
which bears floating rates. The Group is considering investing surplus cash in long term deposits at fixed
rates in the future.
As at the end of the reporting period, the Group had the following floating financial instruments:
2018
Weighted
average
interest rate
%
Balance
$
2017
Weighted
average
interest rate
%
Balance
$
Cash and cash equivalents
0.46
1,004,930
0.58
1,182,258
The following table demonstrates the sensitivity to a 0.5% change in interest rates, with all other variables
held constant, of the Group’s profit (through the impact on floating rate financial assets and financial
liabilities).
2018
+0.5%
$
-0.5%
$
2017
+0.5%
$
-0.5%
$
Profit/(loss) for the year
5,025
(5,025)
5,911
(5,911)
56
Dome Gold Mines Ltd
and its controlled entities
Notes to the Consolidated Financial Statements
27 FINANCIAL INSTRUMENT RISK (CONTINUED)
27.3 Credit risk analysis
Credit risk is the risk that a counterparty fails to discharge an obligation to the Group. The Group is
exposed to this risk for various financial instruments, for example by receivables from other parties,
placing deposits etc. The Group's maximum exposure to credit risk is limited to the carrying amount of
financial assets recognised at the reporting date, as summarised below:
Classes of financial assets -
Carrying amounts:
Cash and cash equivalents
Trade and other receivables
Bank guarantee deposit
Bond deposit
Carrying amount
2018
$
2017
$
1,004,930
51,384
114,543
98,324
1,269,181
1,182,258
40,609
114,543
96,356
1,433,766
The Group continuously monitors defaults of other counterparties, identified either individually or by
group, and incorporates this information into its credit risk controls. Where available at reasonable cost,
external credit ratings and/or reports on other counterparties are obtained and used. The Group's policy
is to deal only with creditworthy counterparties.
The Group's management considers that all the above financial assets that are not impaired or past due
for each of the reporting dates under review are of good credit quality. The Group currently has no
receivables from trading therefore is not exposed to credit risk in relation to trade receivables.
None of the Group's financial assets are secured by collateral or other credit enhancements.
The credit risk for cash and cash equivalents, bank guarantee deposit, bond deposit and tax refunds is
considered negligible, since the counterparties are reputable banks and government body with high
quality external credit ratings.
27.4 Liquidity risk analysis
Liquidity risk is that the Group might be unable to meet its obligations. The Group manages its liquidity
needs by monitoring scheduled debt servicing payments for financial liabilities as well as forecast cash
inflows and outflows due in day-to-day business. The data used for analysing these cash flows is
consistent with that used in the contractual maturity analysis below. Liquidity needs are monitored in
various time bands, on a day-to-day and week-to-week basis, as well as on the basis of a rolling 30-day
projection. Long-term liquidity needs for a 180-day and a 360-day lookout period are identified monthly.
Net cash requirements are compared to available borrowing facilities in order to determine headroom or
any shortfalls. This analysis shows that available borrowing facilities are expected to be sufficient over
the lookout period.
The Group's objective is to maintain cash and marketable securities to meet its liquidity requirements for
90-day periods at a minimum. This objective was met for the reporting periods. Funding for long-term
liquidity needs is additionally secured by an adequate amount of committed credit facilities.
57
Dome Gold Mines Ltd
and its controlled entities
Notes to the Consolidated Financial Statements
28 CAPITAL RISK MANAGEMENT
Our objective of capital risk management is to manage capital and safeguard our ability to continue as a
going concern, and to generate returns for shareholders. The Group manages its risk exposure of its
financial instruments in accordance with the guidance of the Board of Directors. The Group uses different
methods to manage and minimise its exposure to risks. These include monitoring levels of interest rates
fluctuations to maximise the return of bank balances and the flexing of the gearing ratios. Liquidity risk is
monitored through the development of future rolling cash flow forecasts.
The final approval and monitoring of any of these policies is done by the Board which review and agrees
on the policies for managing risks.
The primary responsibility to monitor the financial risks lies with the Directors and the Company Secretary
under the authority of the Board. The Board approved policies for managing risks including the setting up
of approval limits for purchases and monitoring projections of future cash flows.
29 AUTHORISATION OF FINANCIAL STATEMENTS
The consolidated financial statements for the year ended 30 June 2018 (including comparatives) were
approved by the board of directors on 13 September 2018.
58
Dome Gold Mines Ltd
and its controlled entities
Directors’ Declaration
The directors of the Company declare that:
1 In the opinion of the Directors of Dome Gold Mines Limited:
a) The consolidated financial statements and notes of Dome Gold Mines Limited are in accordance
with the Corporations Act 2001, including:
i Giving a true and fair view of its financial position as at 30 June 2018 and of its performance for
the financial year ended on that date; and
ii Complying with Australian Accounting Standards (including
Interpretations) and the Corporations Regulations 2001; and
the Australian Accounting
b) There are reasonable grounds to believe that Dome Gold Mines Limited will be able to pay its debts
as and when they become due and payable.
2 The Directors have been given the declarations required by Section 295A of the Corporations Act 2001
from the Chief Executive Officer and Chief Financial Officer (or equivalent) for the financial year ended 30
June 2018.
3 Note 1 confirms that the consolidated financial statements also comply with International Financial
Reporting Standards.
Signed in accordance with a resolution of the Directors
G. G. Lowder
Chairman
Dated this 13 September 2018
Sydney
59
Level 17, 383 Kent Street
Sydney NSW 2000
Correspondence to:
Locked Bag Q800
QVB Post Office
Sydney NSW 1230
T +61 2 8297 2400
F +61 2 9299 445
E info.nsw@au.gt.com
W www.grantthornton.com.au
Independent Auditor’s Report
To the Members of Dome Gold Mines Limited
Report on the audit of the financial report
Opinion
We have audited the financial report of Dome Gold Mines Limited (the Company) and its subsidiaries (the Group), which
comprises the consolidated statement of financial position as at 30 June 2018, the consolidated statement of profit or loss
and other comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows
for the year then ended, and notes to the financial statements, including a summary of significant accounting policies, and
the Directors’ declaration.
In our opinion, the accompanying financial report of the Group is in accordance with the Corporations Act 2001, including:
a Giving a true and fair view of the Group’s financial position as at 30 June 2018 and of its performance for the year
ended on that date; and
b Complying with Australian Accounting Standards and the Corporations Regulations 2001.
Basis for opinion
We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are
further described in the Auditor’s Responsibilities for the Audit of the Financial Report section of our report. We are
independent of the Group in accordance with the auditor independence requirements of the Corporations Act 2001 and
the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for
Professional Accountants (the Code) that are relevant to our audit of the financial report in Australia. We have also fulfilled
our other ethical responsibilities in accordance with the Code.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Grant Thornton Audit Pty Ltd ACN 130 913 594
a subsidiary or related entity of Grant Thornton Australia Ltd ABN 41 127 556 389
www.grantthornton.com.au
‘Grant Thornton’ refers to the brand under which the Grant Thornton member firms provide assurance, tax and advisory services to their clients
and/or refers to one or more member firms, as the context requires. Grant Thornton Australia Ltd is a member firm of Grant Thornton International
Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. GTIL and each member firm is a separate legal entity. Services are
delivered by the member firms. GTIL does not provide services to clients. GTIL and its member firms are not agents of, and do not obligate one
another and are not liable for one another’s acts or omissions. In the Australian context only, the use of the term ‘Grant Thornton’ may refer to
Grant Thornton Australia Limited ABN 41 127 556 389 and its Australian subsidiaries and related entities. GTIL is not an Australian related entity to
Grant Thornton Australia Limited.
Liability limited by a scheme approved under Professional Standards Legislation.
60
Material uncertainty related to going concern
We draw attention to Note 3.16 in the financial statements, which indicates that the Group incurred a net loss of $1,704,321
during the year ended 30 June 2018, and used $3,231,434 of net cash in operations including payments for exploration. As
stated in Note 3.16, these events or conditions, along with other matters as set forth in Note 3.16, indicate that a material
uncertainty exists that may cast doubt on the Group’s ability to continue as a going concern. Our opinion is not modified in
respect of this matter.
Key audit matters
Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial
report of the current period. These matters were addressed in the context of our audit of the financial report as a whole, and in
forming our opinion thereon, and we do not provide a separate opinion on these matters.
Key audit matter
Exploration and Evaluation Assets – valuation
Note 3 and 14
At 30 June 2018 the carrying value of Exploration and Evaluation
Assets was $30,264,494.
How our audit addressed the key audit matter
Our procedures included, amongst others:
Obtaining the management prepared reconciliation of
In accordance with AASB 6 Exploration for and Evaluation of
Mineral Resources, the company is required to assess at each
reporting date if there are any triggers for impairment which may
suggest the carrying value is in excess of the recoverable value.
There are a number of assumptions made when assessing the
recoverability of capitalised costs many times it is hinged upon the
future success of projects.
This area is a key audit matter due to the inherent subjectivity that
is involved in the Group making judgements in relation to the
evaluation for any impairment indicators, in accordance with AASB
6: Exploration for and Evaluation of Mineral Resources.
capitalised exploration and evaluation expenditure and
agreeing to the general ledger;
Reviewing management’s area of interest considerations
against AASB 6;
Conducting a detailed review of management’s assessment of
trigger events prepared in accordance with AASB 6 including;
-
Tracing projects to statutory registers, exploration
licenses and third party confirmations to determine
whether a right of tenure existed;
Enquiry of management regarding their intentions to carry
out exploration and evaluation activity in the relevant
exploration area, including review of managements’
budgeted expenditure;
Understanding whether any data exists to suggest that
the carrying value of these exploration and evaluation
assets are unlikely to be recovered through development
or sale;
-
-
Reviewing the appropriateness of the related disclosures
within the financial statements.
Information other than the financial report and auditor’s report thereon
The Directors are responsible for the other information. The other information comprises the information included in the
Group’s annual report for the year ended 30 June 2018, but does not include the financial report and our auditor’s report
thereon.
Our opinion on the financial report does not cover the other information and we do not express any form of assurance
conclusion thereon.
In connection with our audit of the financial report, our responsibility is to read the other information and, in doing so, consider
whether the other information is materially inconsistent with the financial report or our knowledge obtained in the audit or
otherwise appears to be materially misstated.
If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are
required to report that fact. We have nothing to report in this regard.
Responsibilities of the Directors’ for the financial report
The Directors of the Group are responsible for the preparation of the 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
61
determine is necessary to enable the preparation of the financial report that gives a true and fair view and is free from material
misstatement, whether due to fraud or error.
In preparing the financial report, the Directors are responsible for assessing the Group’s ability to continue as a going concern,
disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the
Directors either intend to liquidate the Group or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial report
Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material
misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance
is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Australian Auditing
Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions
of users taken on the basis of this financial report.
A further description of our responsibilities for the audit of the financial report is located at the Auditing and Assurance
Standards Board website at: http://www.auasb.gov.au/auditors_responsibilities/ar1.pdf. This description forms part of our
auditor’s report.
Report on the remuneration report
Opinion on the remuneration report
We have audited the Remuneration Report included in pages 21 to 24 of the Directors’ report for the year ended 30 June
2018.
In our opinion, the Remuneration Report of Dome Gold Mines Limited, for the year ended 30 June 2018 complies with
section 300A of the Corporations Act 2001.
Responsibilities
The Directors of the Group are responsible for the preparation and presentation of the Remuneration Report in accordance
with section 300A of the Corporations Act 2001. Our responsibility is to express an opinion on the Remuneration Report,
based on our audit conducted in accordance with Australian Auditing Standards.
Grant Thornton Audit Pty Ltd
Chartered Accountants
M D Dewhurst
Partner – Audit & Assurance
Sydney, 13 September 2018
62
Dome Gold Mines Ltd
and its controlled entities
ASX Additional Information
Additional information required by the ASX Limited Listing Rules and not disclosed elsewhere in this
report is set out below. The information is effective as at 31 August 2018.
SECURITIES EXCHANGE
The Company is listed on the Australian Securities Exchange. The Home Exchange is Sydney.
SUBSTANTIAL SHAREHOLDERS
The number of substantial shareholders and their associates are set out below:
Shareholder
Blue Ridge Interactive Limited
Onizaki Corporation
Fleet Market Investments Pty Ltd
Number of Shares
40,000,000
30,000,000
19,776,499
THE NUMBER OF HOLDERS IN EACH CLASS OF SECURITIES
As at 31 August 2018, the number of holders in each class of securities on issue were as follows:
Type of security
Ordinary shares
Unlisted options
Number of holders
Number of securities
455
28
269,031,700
25,085,401
CLASS AND VOTING RIGHTS
The voting rights attached to ordinary shares, as set out in the Company’s Constitution, are that every
member in person or by proxy, attorney or representative, shall have one vote on a show of hands
and one vote for each share held on a poll.
A member holding partly paid shares is entitled to a fraction of a vote equivalent to the proportion
which the amount paid up bears to the issue price for the shares.
Options don’t carry voting rights.
DISTRIBUTION OF SHAREHOLDERS
The total distribution of fully paid shareholders, being the only class of equity was as follows:
Range
Total Shareholders
Total No of Shares
1 - 1,000
1,001 - 5,000
5,001 - 10,000
10,001 - 100,000
100,001 and over
Total
10
17
167
144
117
455
1,724
44,462
1,663,800
3,792,364
263,529,350
269,031,700
63
Dome Gold Mines Ltd
and its controlled entities
ASX Additional Information
DISTRIBUTION OF OPTIONHOLDERS
The total distribution of unlisted optionholders was as follows:
Expiry Date
Number of holders
Exercise Price
15 November 2019
27 July 2020
27 July 2020
31 December 2020
31 December 2020
28 November 2019
14 December 2019
3 January 2020
22 January 2020
20 February 2020
2 May 2020
3
3
3
1
1
4
7
5
5
2
2
$0.20
$0.40
$0.50
$0.40
$0.50
$0.20
$0.20
$0.20
$0.20
$0.20
$0.20
LESS THAN MARKETABLE PARCELS
On 31 August 2018, there were 18 holders of less than a marketable parcel of 2,174 ordinary shares.
TWENTY LARGEST SHAREHOLDERS
As at 31 August 2018, the twenty largest quoted shareholders held 75.20% of the fully paid ordinary
shares as follows:
Name
Blue Ridge Interactive Limited
Onizaki Corporation
Fleet Market Investments Pty Ltd
Precious Tori Ltd
Brave Top Enterprises Ltd
Ordinary Shares
Quantity
40,000,000
30,000,000
19,776,499
12,964,250
10,500,000
Globe Street Investments Pty Ltd
10,000,000
Globe Street Investments Pty Ltd
10,000,000
Mr Zhengjian Xu
Cybersys Inc
Monex Boom Securities (HK) Ltd
Tiger Ten Investment Limited
BNP Paribas Nominees Pty Ltd
Primavera
Thamadia Nominees Pty Ltd
Mr Hwaeun Park
Mr Masayuki Kudo
Mr Katsuji Kato
Mr Akio Miyashita
Creative Management Consultants Co Ltd
Mr Nurbol Nazarbayev
8,320,888
8,000,000
7,593,027
7,292,393
6,788,597
5,000,000
5,000,000
4,764,092
3,973,976
3,382,720
3,289,163
2,866,754
2,802,647
%
14.87
11.15
7.35
4.82
3.90
3.72
3.72
3.09
2.97
2.82
2.71
2.52
1.86
1.86
1.77
1.48
1.26
1.22
1.07
1.04
64
Dome Gold Mines Ltd
and its controlled entities
ASX Additional Information
TWENTY LARGEST OPTIONOLDERS
As at 31 August 2018, there were no optionholders that held 20% or more of the unquoted options.
ON MARKET BUY BACK
There is no on market buy-back.
ESCROWED SECURITIES
As at 31 August 2018, there were no escrowed securities.
TENEMENTS SCHEDULE
Tenement
Location
Holder
Area (Ha)
Expiry Date
SPL 1451
Ono Island
Dome Mines Ltd
3,028
12/02/2020
SPL 1452
Nadrau
Dome Mines Ltd
33,213
12/02/2019
SPL 1495
Sigatoka
Magma Mines Ltd
2,522
13/07/2018*
Interest
%
100
100
100
*Application to renew this Special Prospecting Licence for a further 3-year period was submitted to the Mineral
Resources Department, Fiji on July 6, 2018. The Company believes there is no reason why the licence will not be
renewed.
Note: Magma Mines Ltd and Dome Mines Ltd, both incorporated in Fiji, are wholly owned
subsidiaries of Dome Gold Mines Ltd. All tenements are located in the Republic of Fiji.
65
Dome Gold Mines Ltd
and its controlled entities
Corporate Directory
ABN 49 151 996 566
Directors
Dr Garry Lowder (Chairman)
Mr Tadao Tsubata (Non-Executive Director)
Ms Sarah Harvey (Non-Executive Director)
Company Secretary
Mr Marcelo Mora
Corporate Office
Suite 2, Level 8, 17-19 Bridge Street
Sydney NSW 2000
Australia
Registered Office
Suite 2, Level 8, 17-19 Bridge Street
Sydney NSW 2000
Australia
Auditors
Grant Thornton Audit Pty Ltd
Level 17, 383 Kent Street
Sydney NSW 2000
Bankers
National Australia Bank
255 George Street
Sydney NSW 2000
Solicitors
Websters
Level 11, 37 Bligh Street
Sydney NSW 2000
66