Dome Gold Mines
Annual Report 2022

Plain-text annual report

ABN 49 151 996 566 Annual Report 30 June 2022 Dome Gold Mines Ltd and its controlled entities Table of Contents Chairman’s Message ................................................................................................................... 1 Directors’ Report ........................................................................................................................ 3 Auditor’s Independence Declaration ........................................................................................ 35 Corporate Governance Statement ............................................................................................. 36 Consolidated Statement of Profit or Loss and Other Comprehensive Income ......................... 37 Consolidated Statement of Financial Position .......................................................................... 38 Consolidated Statement of Changes in Equity.......................................................................... 39 Consolidated Statement of Cash Flows .................................................................................... 40 Notes to the Consolidated Financial Statements ....................................................................... 41 Directors’ Declaration ............................................................................................................... 73 Independent Auditor’s Report ................................................................................................... 74 ASX Additional Information .................................................................................................... 78 Corporate Directory .................................................................................................................. 81 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 2022. The past year has seen further impact of the COVID-19 pandemic in disrupting lives and businesses. Until late 2021, international travel was severely restricted interrupting the normal course of business activity, particularly between Australia and Fiji. Fortunately, Dome was able to take strong steps forward toward the development of a sand mining project at Sigatoka and to advance exploration on its other special prospecting licences (SPL1451 and SPL1452) in Fiji. During the previous financial year, Dome had completed resource update drilling at Sigatoka (see ASX release dated November 5, 2020 for details and JORC Table 1). The drilling programme concentrated on the Southern Kulukulu part of the Sigatoka resource area in advance of commencement of a Definitive Feasibility Study (DFS). Based on the Sigatoka drilling results obtained, Dome commissioned an update of the mineral resource estimate by its JORC 2012 resource consultants. The total of classified (116.3MT) and unclassified (73.2MT) resources increased to 189.5 million tonnes. Very importantly at Kulukulu South a new indicated resource of 34 million tonnes with an average Heavy Mineral grade of 19.7% as well as an Inferred Resource of 0.61 million tonnes at 48.3% Heavy Minerals was defined. This is very significant as it this area of the deposit where mining is proposed to commence. To obtain processing data needed for the DFS, as soon as internal travel restrictions were relaxed in September 2021, the Company proceeded with the collection and shipment of a 15-20 tonne bulk sample representative of the deposit from the Kulukulu south area. Bulk material bags containing the sample were placed into a 20-tonne shipping container for secure transport to the port of Brisbane. Large-scale pilot plant processing of the sample commenced in November 2021 at IHC Mining’s metallurgical laboratory at Yatala, Queensland. Pilot plant operation confirmed that simple washing, screening, heavy mineral separation and magnetic processing produced industry acceptable industrial sand and magnetite concentrate averaging 59.7% Fe, 6.6% TiO2 and 0.67% V2O5. In conjunction with the pilot plant operation, Dome contracted Flagstaff PCM Pty Ltd, based at Spring Hill, Queensland to provide overall engineering management of the pilot plant program as well as a Definitive Feasibility Study (DFS) on behalf of the Company. Based on competitive bidding and recommendations from Flagstaff, Dome has engaged successful bidders for all components of the DFS. These include the following main studies underway; 1) Plant Area Package – DRA Pacific Pty Ltd 2) Geotechnical Investigations – Entec Pte Limited 3) Mining Package – AMC Consultants Pty Ltd 4) Environmental Impact Assessment – Smith Geosciences Consultancy 5) Marketing Studies – Stratum Resources 6) Marine Studies – Royal Haskoning DHV 7) Financial Model – Flagstaff PCM Pty Ltd Work on all DFS packages is progressing well including several new areas of investigation required by the Fiji Government. 1 Dome Gold Mines Ltd and its controlled entities Directors’ Report DIRECTORS’ DETAILS The following persons were Directors of Dome during or since the end of the financial year. Mr John V. McCarthy Bachelor of Science (St. Francis Xavier University) Member, Australasian Institute of Mining and Metallurgy Chairman Independent Non-Executive Director Director since 13 January 2021 Mr John V. McCarthy is a Geologist, with extensive knowledge and experience in the resources sector, built up over a career spanning 46 years in mineral exploration. He has worked in Canada, Southern Africa, Indonesia, Vietnam, Fiji and Australia and has previously held senior executive positions in junior exploration companies, both listed and unlisted. Mr McCarthy worked for Dome initially as a consultant and later as CEO for eight years until May 2019, when he retired to pursue personal interests. During his earlier time with Dome, he took an active role in the listing of the Company on the ASX and its subsequent growth, including Dome’s acquisition of Magma Mines Ltd, holder of the Sigatoka Iron Sands Project in Fiji (SPL1495). Mr John V. McCarthy was appointed as an independent, non-executive Director of the Company on 13 January 2021, and assumed the role of non-executive Chairman from 1 February 2021. Other current Directorships: None Previous Directorships (last 3 years): None Interests in shares: 260,000 shares Interests in options: 2,000,000 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. 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: 52,010,893 shares Interests in options: None 3 Dome Gold Mines Ltd and its controlled entities Directors’ Report 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) Independent Non-Executive Director Chair of Audit Committee Director from 27 July 2017 until 21 January 2021, reappointed on 24 September 2021 Ms Sarah Harvey is a solicitor and has worked for almost 20 years across multiple industries in both private practice and corporate environments. She specialises in providing board advice in strategic planning and review, due diligence, and risk compliance. She is also a nationally accredited mediator and Family Dispute Resolution Practitioner. She holds a BA, LLB, Master of Law (In-house Practice), and Certificate in Governance Practice from the Governance Institute of Australia (GIA). She is a member of the Law Society of NSW and the Australian Disputes Resolution Association. Ms Sarah Harvey resigned as a non-executive Director of the Company on 21 January 2021 and she was reappointed as a non-executive Director of the Company on 24 September 2021. Other current Directorships: None Previous Directorships (last 3 years): None Interests in shares: 23,342,625 shares Interests in options: 2,566,126 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. 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, the Sigatoka Iron and Industrial Sand Project, SPL1451, the Ono Island Gold Project and SPL1452, the Nadrau Gold-Copper Porphyry Project (see Figure 1 for locations). 4 Dome Gold Mines Ltd and its controlled entities Directors’ Report Figure 1 – Dome Gold Mine’s Fiji project location map SPL 1495 Sigatoka Iron and Industrial Sand Heavy Mineral Project  Special Prospecting Licence (SPL) 1495 was renewed for a further 3-year period on 27 April 2022 and will expire on 26 April 2025  The tenement of 2,522.69 ha is located on the south coast of Viti Levu and covers the plains at the mouth of the Sigatoka River, the river itself and an area offshore It is Dome’s most advanced project   Pre-feasibility Study report completed early 2015  A Definitive Feasibility Study (DFS) had been started by IHC Robbins in December 2018 to support an application for a Mining Lease but was suspended in mid-2019 to accommodate completion of further drilling to upgrade the initial JORC 2012 resource estimates  An Initial JORC 2012 resource estimate of 131.4 MT was published in October 2014 and an update of the resource estimate of an additional 52.7 MT was published on December 11, 2019  A third update of the JORC 2012 resource estimate was published on 5 November 2020 that increased the total resource estimate to 189.5 MT1, of which 73.2 MT at Kulukulu North is pending classification upon receiving land access to this portion of the resource  Of significance the November 5th update reported a high grade Indicate Resource in the South Kulukulu area of 34 million tonnes containing 19.7% HM including 610,000 tonnes containing 48.3% HM  A report by IHC Robbins on pilot plant scale metallurgical test programs on 3 x 850kg samples was completed in June 2019  The pilot plant produced titano-magnetite with between 56.9 and 57.9% Fe, 6.5 and 6.6% Ti and 0.4% V by standard wet gravity methods  Washed sand also produced in the pilot plant meets Australian Standards for construction sand based on independent engineering analyses  A 15-20 tonne bulk sample representative of the Kulukulu South area was shipped and has undergone large scale pilot plant processing  Results show that simple washing, screening, spiral heavy mineral separation and magnetic processes delivered industry acceptable sand and magnetite concentrate averaging 59.7% Fe, 6.6% TiO2 and 0.67% V2O5  Flagstaff PCM Pty Ltd were engaged in November 2021 to provide overall management of the DFS program  Qualified engineering and environmental consultants have been appointed and all parts of the DFS were underway during the June quarter of 2022 1 see ASX release dated November 5, 2020 for JORC 2012 Table 1 5 Dome Gold Mines Ltd and its controlled entities Directors’ Report Revised Mineral Resources on Sigatoka SPL1495 The total mineral resources at Sigatoka are now estimated at 189.5 million tonnes (MT) at 12.7% heavy minerals (HM), with a cut-off of 8% HM. This is made up of the following: Kulukulu South: A combined Indicated and Inferred Resource of 34.6 MT at an average grade of 20.2% Heavy Minerals and 12.9% Clay containing 7 MT of Heavy Minerals, which includes:  An Indicated Resource of 34 MT at an average grade of 19.7% Heavy Minerals and 13.1% Clay containing 6.7 MT of Heavy Minerals of which 25% is MAG1 (300 Gauss) Heavy Minerals.  An Inferred Resource of 0.61 MT at an average grade of 48.3% Heavy Minerals and 4.2% Clay containing 295kt of Heavy Minerals of which 25% is MAG1 (300 Gauss) Heavy Minerals. Koroua Island: An Indicated Resource of 52.5 MT, at an average grade of 13.2% Heavy Minerals and 13% Clay, containing 6.9 MT of Heavy Minerals of which 23% is MAG1 (300 Gauss) Heavy Minerals. Sigatoka River: A combined Indicated and Inferred Resource of 29.4 MT at an average grade of 11.4% Heavy Minerals and 6.7% Clay containing 3.3 MT of Heavy Minerals, which includes:  An Indicated Resource of 23.9 MT at an average grade of 11.5% Heavy Minerals and 6.6% Clay containing 2.8 MT of Heavy Minerals of which 15% is MAG1 (300 Gauss) Heavy Minerals.  An Inferred Resource of 5.3 MT at an average grade of 10.8% Heavy Minerals and 7.0% Clay containing 570,000 T of Heavy Minerals of which 14% is MAG1 (300 Gauss) Heavy Minerals. Kulukulu North: The unclassified resource for the Kulukulu North area is now:  A total of 73.2 MT at an average grade of 17.4% Heavy Minerals and 6.0% Clay containing 12.7 MT of Heavy Minerals of which 14.8% is MAG1 (300 Gauss) Heavy Minerals. 6 Dome Gold Mines Ltd and its controlled entities Directors’ Report Figure 2 - Resource domains of the Sigatoka sand deposit Table 1: Comparative Sigatoka Project Resource Inventory, November 2020 RESOURCE SUB-CATEGORY PREVIOUS CURRENT DIFFERENCE Inferred Indicated Unclassified Inferred Indicated Unclassified Inferred Indicated Kulukulu (2014) Kulukulu North Kulukulu South Sigatoka River Koroua Island TOTALS Tonnes (Mt) Average HM% HM tonnes (kt) MAG1 Tonnes (kt) Tonnes (Mt) Average HM% HM tonnes (kt) MAG1 Tonnes (kt) Tonnes (Mt) Average HM% HM tonnes (kt) MAG1 Tonnes (kt) Tonnes (Mt) Average HM% HM tonnes (kt) MAG1 Tonnes (kt) Tonnes (Mt) Average HM% HM tonnes (kt) MAG1 Tonnes (kt) Tonnes (Mt) Average HM% HM tonnes (kt) MAG1 Tonnes (kt) 100.1 17% 17,239 2,637 5.9 11% 631 91 106.0 17% 17,870 2,728 25.3 12% 2,923 443 52.7 13% 6,981 1,607 78.0 13% 9,904 2,050 Subdivided into Kulukulu North & South (2020) 73.2 17% 12,708 1,885 73.2 17% 12,708 1,885 0.6 48% 295 74 5.3 11% 570 81 5.9 15% 865 155 34.0 20% 6,710 1,707 23.9 12% 2,755 416 52.5 13% 6,935 1,595 110.4 15% 16,400 3,718 73.2 - 12,708 1,885 - - 0.6 34.0 295 74 0.6 - 6,710 1,707 1.4 - - - 61 10 73.2 12,708 1,885 0.0 234 64 - - - 168 27 0.2 - - 46 12 32.4 6,496 1,668 7 Dome Gold Mines Ltd and its controlled entities Directors’ Report The newly identified relatively small but very high-grade resource at Kulukulu South (610,000 tonnes @ 48.3% HM) sits mostly above sea level (Figures 3 and 4). Its presence strongly supports Kulukulu South as being the ideal location to commence mining operations. The next step to advance the Sigatoka Project was collection of a 15-20 tonne bulk sand sample that was shipped to Australia for pilot plant processing as part of the resumed DFS (see Figure 5). Figure 3 - Kulukulu South area, showing location of cross-section in Figure 5 Figure 4 - Kulukulu South cross-section 9660mN, hot colours showing highest HM results. 8 Dome Gold Mines Ltd and its controlled entities Directors’ Report Sigatoka Large Scale Pilot Plant Results Figure 5 – Red star images mark approximate locations of bulk sample sites on an image of part of the Sigatoka deposit Plate 1 – “Run of mine” bulk sample prepared for pilot plant processing The 2019-2020 sonic drilling program focused on the southern part of the Inferred Kulukulu Resource (see Figure 3). This area was targeted by Dome as it contains higher grade heavy mineral mineralisation and is recommended as the starting point for sand mining, pursuant to recommendations of the Definitive Feasibility Study (“DFS”). Results of recent and earlier reconnaissance drilling by Dome at Kulukulu, indicate that the southern Kulukulu area contains abundant sand, which is both thick (greater than 30 m) and visually rich in magnetite (see Plate 1). This area was selected for collection of the 15-20 tonne bulk sample for large scale pilot plant processing to generate data required for process design and production of industrial sand and magnetite concentrate samples for marketing studies (see Figure 5 and Plates 2 and 3) 9 Dome Gold Mines Ltd and its controlled entities Directors’ Report Plate 2 – Industrial sand from large scale pilot plant operation Plate 3 – Magnetite concentrate from large scale pilot plant operation 10 Dome Gold Mines Ltd and its controlled entities Directors’ Report The final report on the pilot plant processing of the bulk sample of sand from Sigatoka was issued by IHC Mining in June. The conclusions from the IHC report are as follows; “… Sigatoka average grade DFS metallurgical test work sample processed readily through the DFS process presented herein. The process was simple, utilised standard mineral sands separation equipment and demonstrated process consistency and robustness. Ultimately, a Magnetite Product containing 59.7% Fe was produced from the average grade DFS metallurgical test work sample, with an overall mass yield of 11.8%. This represented a target magnetite/titano-magnetite mineral recovery of 83.2% (QEMSCAN) or 86.9% (magnetic fractionation). A tailings stream, representing a further 54.6% mass yield, was identified to be suitable for construction sand applications including fine concentrate aggregate, graded asphalt aggregate and unbound pavement. Additionally, the Dome Gold magnetic fractionation method has again been proven to be an inexpensive, fast and effective method for estimating magnetite/titano magnetite grade and recovery.” The report concluded based on the test results that a simple sand washing process flowsheet will produce: 1. Titano-magnetite concentrate; and 2. Construction sand and gravel products that comply with Australian standards. Dome has filled and restored the bulk sample holes and there are no further rehabilitation obligations as at the reporting date. Sigatoka Project Definitive Feasibility Study Update During the December quarter, Dome reported that the Company had engaged Flagstaff PCM Pty Ltd (Flagstaff) to oversee, coordinate and manage the IHC pilot plant and DFS programs. Based on competitive bidding and recommendations from Flagstaff, Dome through its wholly owned subsidiary, Magma Mines Pte Ltd has engaged successful bidders for all components of the DFS. These include the following main studies now underway; 1) Plant Area Package – DRA Pacific Pty Ltd 2) Geotechnical Investigations – Entec Pte Limited 3) Mining Package – AMC Consultants Pty Ltd 4) Environmental Impact Assessment – Smith Geosciences Consultancy 5) Marketing Studies – Stratum Resources 6) Marine Studies – Royal Haskoning DHV 7) Financial Model – Flagstaff PCM Pty Ltd Work on all of the DFS packages is progressing well including several new areas of investigation recently required by the Fiji Government. 11 Dome Gold Mines Ltd and its controlled entities Directors’ Report SPL 1451 Ono Island Project • SPL1451 was renewed for a three-year period on 25 June 2020. • 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. • Further review of all data and 3-D modelling of exploration results to date will be undertaken before proceeding with the next phase of drilling. Figure 6 – Naqara East and West Prospects on Ono Island showing the extent of hydrothermal alteration, pole-diploe Induced Polarisation (IP) survey lines and nominal drill sites Prior to undertaking exploration diamond drilling, an offset pole-dipole IP survey involving 4 arrays, 2 over each prospect (see Figure 6) 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. Receiver electrodes were placed at 100m intervals along the two survey lines either side of the transmitter line (34 points). 12 Dome Gold Mines Ltd and its controlled entities Directors’ Report Figures 7 & 8 – 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. Two 32 channel IP receivers were used to take 3 to 4 readings at each electrode. Figures 7 & 8 are compilations of surface alteration and the processed IP data for the East and West Naqara prospects. 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. 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 SW Pacific. The Company completed an initial diamond drilling program 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). 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. A drill hole location map is included as Figure 9. Table 2 presents the GPS collar co- ordinates and other relevant details for each hole completed in the program. 13 Dome Gold Mines Ltd and its controlled entities Directors’ Report Figure 9 – Exploration drill hole location map of the Naqara East and Naqara West prospects The drilling was problematical at times due to the high degree of fracturing and hydrothermal clay alteration causing some holes to collapse. Cementing was carried out to secure the holes in areas of poor ground conditions and reach deeper levels. 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 – Details of exploration diamond drill holes completed on Ono Island Holes were designed to test the strongest IP chargeability anomalies at depth (see Figure 10). These IP chargeability anomalies lie directly below IP resistivity anomalies (see Figure 11). 14 Dome Gold Mines Ltd and its controlled entities Directors’ Report 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). Figure 10 – IP chargeability cross-section, section showing the trace of drill holes ONODDH001 and 7. These holes tested 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. 15 Dome Gold Mines Ltd and its controlled entities Directors’ Report A photo below in Plate 4 shows typical sulphide-bearing rock in drill core from ONODDH007 (from 225.7m 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. Plate 4 – Altered and mineralized volcanic host rock with up to 7% metallic sulphide in drill hole ONODDH007, HQ core from 225.7 m depth - Ono Island Project, Fiji 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, 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 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. In June 2022, Dome has entered into a Non-Disclosure Agreement with a major multi-national mining group who have expressed an interest in examining Dome’s Ono Island project in Fiji. The work involved site inspections, and collection of rock samples), and examination and sampling of drill core (11 samples). If results warrant Dome may negotiate a joint venture exploration agreement with the major company to accelerate exploration of SPL1451. 16 Dome Gold Mines Ltd and its controlled entities Directors’ Report Rehabilitation, Community Work and Safety A comprehensive rehabilitation program was completed as part of the Ono Island drill program. Access track preparation was carried out by a 12 tonne Hitachi excavator mobilised from Suva. Pre-existing historical tracks through the Pine Forests were re-established (total of 2812 m), and new tracks to the drill pads were also constructed (total of 2967 m). Many of these access roads were left open at the end of the program as they will help Naqara Village to remove pine logs to the sawmill in the village. The excavator and several casual workers from Naqara were used to carry out rehabilitation on all drill pads and along drill tracks. The sumps were filled back in and all rubbish was removed after drilling. The collar for each hole was capped with a cement block, with the hole name labelled into the cement. Pine trees and grasses were planted on the drill pads and access tracks areas. Two weeks were spent completing the rehabilitation work associated with the program. Just one week after planting, the pine trees and grasses had already started growing back. Compensation payments for land disturbance were paid directly to the Landowners, Lease Holders and Lands Department. The Pine assessment fees were paid to Forestry Department in Nausori. Community projects were also supported by Dome during the drilling program including:  Completion of the new Naqara school dormitory  Demolish old school building  Clearing house pads  Digging rubbish dumps and toilet sumps  Deepening Naqara creek and repairing the seawall at the shoreline The drilling program was completed safely without any lost-time incidents. Prior to departure the villages on Ono were visited to let the local people know that this phase of the exploration program had concluded and to thank them for their assistance and cooperation. SPL 1452 Nadrau Project • SPL 1452 has expired on 25 August 2022. An application to renew SPL1452 for a further 3-year period was submitted to the Mineral Resources Department with an estimated commitment of $800,000 on 26 August 2022, the expiry date of the current licence. While the renewal application is being processed the licence remains in force. • The tenement area of 33,213ha is located on Fiji’s main island, Viti Levu and 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. • 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) 17 Dome Gold Mines Ltd and its controlled entities Directors’ Report 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. During the July to September 2018 quarter, Dome carried out work on its Nadrau Copper-Gold Project on Viti Levu, Fiji. The Nadrau Project includes two key prospects, Namoli and Wainivau, which are highly prospective for large-scale porphyry copper-gold mineralisation. The Namoli and Wainivau prospects lie within SPL 1452, located adjacent to the very large undeveloped Namosi porphyry copper-gold resource, held by Newcrest, which contains 8 million ounces of gold and 8.6 million tonnes of contained copper metal based on published JORC 2012 resource estimates. Namosi is a giant undeveloped copper-gold resource that is currently in the Prefeasibility Stage. A location map showing the regional geological setting of SPL 1452, the Namoli and Wainivau prospects, and their proximity to Newcrest’s Namosi project, is included on Figure 13. Figure 12 - Map showing the location of SPL1452 and the Namoli-Wainivau prospects and its proximity to the large Namosi Cu-Au deposit majority owned and managed by Newcrest. The following work was completed on the Nadrau Project:  Field trips to Namoli-Wainivau prospects to review the geology, alteration and mineralisation at surface and map bush track access points.  Continued compilation of previous exploration data over Namoli and Wainivau, completed by Amoco, CRA and Placer Dome between 1974 and 1994. Amoco carried out significant exploration programs at Namoli-Wainivau in the mid-1970s, including collection of stream sediment samples, rock chip samples, ridge and spur samples, channel sampling, 18 Dome Gold Mines Ltd and its controlled entities Directors’ Report ground magnetics, IP and diamond drilling (5 holes). Dome has been aware of this historical work for some years, but a decision was made recently to digitally capture this data into a comprehensive GIS database, to assist with new interpretations and anomaly targeting. An Amoco IP survey included 25 lines at 200m spacing over an area of approximately 3.5 square km. Several IP anomalies were defined. However, only 2 the 6 IP targets defined by Amoco were drill tested by Amoco. Furthermore, some of the IP anomalies continue to the edge of the survey boundary, particularly in the north and are likely to extend further north. New IP surveys would be required to test the true extents of these IP anomalies. The Amoco drilling program consisted of 5 diamond drill holes for a total of 1168m. The drilling returned anomalous copper mineralisation associated with sulphide mineralisation in most of the holes. Drill core assays were recorded up to 1740ppm Cu, with wide zones of low-grade copper in some holes (e.g. hole SFA-74-1 returned 48.2m @ 475ppm Cu). Higher-grade copper mineralisation could occur at depth below this relatively shallow drilling program or could be associated with one of the other untested IP anomalies nearby. CRA carried out regional exploration work in the Namoli-Wainivau area during 1989-1992. The CRA reports held on file at the MRD Library in Suva (SPL1325) were reviewed by Dome personnel. The CRA work included rock chip sampling around Namoli-Wainivau, with the best sample returning 1.1g/t Au near Korolevu village (siliceous breccia gossanous float). Another 6 rock chip samples range from 0.1 to 0.32ppm Au. Placer Dome also carried out regional exploration work in the Namoli-Wainivau during 1993-94. The Placer report was reviewed at the MRD Library in Suva (SPL1356). Placer collected stream sediment BLEG samples and -80# stream sediment samples at Namoli-Wainivau. Placer’s highest stream sediment BLEG gold assay returned 11ppb Au, and the highest-80# stream sediment assay was 58ppb Au. The highest Placer rock chip gold assay was 0.277g/t Au, taken at the Wainivau Prospect. Placer geologists concluded that Namoli-Wainivau includes a very large copper-gold (Cu-Au) geochemical anomaly, approximately 60 square km in area, and that the area is very prospective for porphyry Cu-Au deposits similar to Namosi. Placer also noted as had Dome geologists that Amoco’s drilling in 1975, did not adequately test the best soil and IP anomalies, and that their 5 drill holes are largely outside the main Cu geochemical soil anomaly. Placer did not complete any further work after 1994. A field geological program to Namoli-Wainivau was conducted by Dome geologists. A total of 46 Stream Sediment Samples and 8 rock chip samples were collected over a period of 6 days. The stream sediment gold and copper plots are shown below on Figures 14 and 15 and they highlight the anomalous gold-copper in the area around Wainivau that also extends to the NW of Wainivau towards Namoli. This trend is broadly coincident with a mapped NW-trending zone of iron-oxide breccia observed in the field. Rock chip samples collected by Dome around Wainivau-Namoli returned weakly anomalous copper assays up to 157ppm and gold assays up to 0.022g/t Au. The iron in these samples is significant (up to 14.5% Fe). This stream sediment data acquired by the Company are consistent with the historical copper-gold geochemical data from Amoco, CRA, and Placer therefore increasing confidence in the historical data. 19 Dome Gold Mines Ltd and its controlled entities Directors’ Report The data shows very encouraging signs that a Cu-Au porphyry system similar to Namosi has potential to be discovered in the Namoli-Wainivau area. In addition, the exploration GIS dataset provides significant new insights into this project and new geological targets. Dome’s own geochemical surveys using modern laboratories and analytical techniques have verified the historical results. 20 Dome Gold Mines Ltd and its controlled entities Directors’ Report Figure 13 - Map showing the stream sediment copper assay results from Namoli-Wainivau prospect. Figure 14 - Map showing the stream sediment gold assay results from Namoli-Wainivau prospect. 21 Dome Gold Mines Ltd and its controlled entities Directors’ Report As reported in the December 2021 quarterly report, in November 2021, local villagers reported to the Company that an area of mineralisation had been exposed during road upgrades in an area within SPL1452. Dome geologists undertook a field inspection and chip sampled outcrop exposures of silicified porphyry and quartz diorite porphyry intrusives containing disseminated pyrite and hematite oxidation after pyrite (see Plate 5). A total of nine rock chip grab samples were collected and submitted to ALS Laboratories for assay. Below, Table 2 presents analytical results for gold (Au), silver (Ag), copper (Cu), Zinc (Zn), Molybdenum (Mo) and Vanadium (V). The results that are anomalous (red font) are worthy of follow-up surveys as they may be indicative of a mineralised porphyry intrusive. Table 2 (Source: ALS Certificate of Analysis BR22037428) Sample No. Au (ppm) Ag (ppm) Cu (ppm) 101311 101312 101313 101314 101315 101316 101317 101318 101319 <0.005 <0.005 0.009 0.022 0.059 <0.005 0.008 <0.005 <0.005 <0.5 <0.5 <0.5 1.2 0.6 <0.5 <0.5 <0.5 0.7 2 5 45 171 643 131 869 118 341 Zn (ppm) Mo (ppm) V (ppm) 2 <1 121 1 160 3 31 20 14 1 228 2 132 3 58 1 62 1 5 34 87 256 227 37 37 1005 348 Analytical Methods: For gold – Au -AA24; Other elements – ME-ICP61 Note: See JORC 2012 Table 1 in ASX release dated 29 January 2022 22 Dome Gold Mines Ltd and its controlled entities Directors’ Report Figure 15 – Satellite image showing GPS locations of nine rock chip grab samples collected from outcrops on SPL1452 (Scale 1cm = approx. 100m) Dome in June entered into a Non-Disclosure Agreement with a major multi-national mining group who expressed an interest in examining Dome’s two hardrock projects in Fiji. The work involved site inspection of SPL1452, and collection of rock (9 samples) and stream geochemical (5 samples) by senior geologists of the major company. If results warrant Dome may negotiate a joint venture exploration agreement to accelerate exploration of prospects already identified on SPL1452. Implications of Covid-19 Pandemic The pandemic has disrupted international travel and the normal course of business activity world-wide has been impacted. Virus outbreaks in Fiji and parts of Australia prevented or delayed field activities. During this period, some of the key Dome staff worked from home while planning the collection and shipment of the large bulk sample from Sigatoka proceeded uninterrupted and was completed in September 2021 as soon as health restrictions in Fiji were lifted. Much of 2021-22 was focused on completion of the DFS following the final upgrade of the JORC 2012 mineral resource estimate announced in November 2020. Collection and shipment the bulk sample to the IHC Mining pilot plant facility in Queensland saw the large scale pilot plant processing to commence during the December quarter of 2021. At the same time Flagstaff engineering consultants were appointed to oversee the pilot plant program and manage all aspects of the DFS. In the first half of 2022, engineering, environmental and marketing experts had commenced work on the DFS. In Sydney and Fiji, the Company observed the recommended protocols, including suspension of international and domestic travel. In Sydney the office, Dome staff worked as usual most of the months throughout the year. Since December 2021, most travel restrictions were removed and the Company has returned to normal operations in Australia and Fiji. 23 Dome Gold Mines Ltd and its controlled entities Directors’ Report Impact of Climate Change There is no apparent immediate impact of climate change that negatively impacts upon the Company’s Fiji projects. Going forward, Dome will seek to employ low to zero emission energy sources for its exploration, mining and mineral processing activities that will meet or exceed requirements of the Fiji Government. Mineral Resources Statement – Attachment A This resource estimate was prepared by independent resource consultants and issued in a report entitled “Sigatoka Iron Sand Project, Resource Estimate Report” dated October 2020 and as announced to the market in ASX releases dated 5 November 2020. Table 1: Comparative Sigatoka Project JORC 2012 Resource Inventory, November 2020 RESOURCE SUB-CATEGORY PREVIOUS CURRENT DIFFERENCE Inferred Indicated Unclassified Inferred Indicated Unclassified Inferred Indicated Kulukulu (2014) Kulukulu North Kulukulu South Sigatoka River Koroua Island TOTALS Tonnes (Mt) Average HM% HM tonnes (kt) MAG1 Tonnes (kt) Tonnes (Mt) Average HM% HM tonnes (kt) MAG1 Tonnes (kt) Tonnes (Mt) Average HM% HM tonnes (kt) MAG1 Tonnes (kt) Tonnes (Mt) Average HM% HM tonnes (kt) MAG1 Tonnes (kt) Tonnes (Mt) Average HM% HM tonnes (kt) MAG1 Tonnes (kt) Tonnes (Mt) Average HM% HM tonnes (kt) MAG1 Tonnes (kt) 100.1 17% 17,239 2,637 5.9 11% 631 91 106.0 17% 17,870 2,728 25.3 12% 2,923 443 52.7 13% 6,981 1,607 78.0 13% 9,904 2,050 Subdivided into Kulukulu North & South (2020) 73.2 17% 12,708 1,885 73.2 17% 12,708 1,885 0.6 48% 295 74 5.3 11% 570 81 5.9 15% 865 155 34.0 20% 6,710 1,707 23.9 12% 2,755 416 52.5 13% 6,935 1,595 110.4 15% 16,400 3,718 73.2 - 12,708 1,885 - - 0.6 34.0 295 74 0.6 - 6,710 1,707 1.4 - - - 61 10 73.2 12,708 1,885 0.0 234 64 - - - 168 27 0.2 - - 46 12 32.4 6,496 1,668 Resource comparison 2021 to 2022 The company's most recent resource estimate was reported on 5 November 2020 and no update to this resource estimate has been made, and hence no material change has occurred since its original publication. 24 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 is 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. Statement of Compliance The information in this Annual Report that relates to Exploration Results is based on information compiled by John V McCarthy. Mr McCarthy is the non-executive Chairman of the Company and 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 and is paid fixed directors fees for his services. 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. The information in this report that relates to Mineral Resources is based on information compiled by Mr Richard Stockwell, a Competent Person who is a fellow of the Australian Institute of Geoscientists. Mr Stockwell is a Director of Placer Consulting Pty Ltd. Mr Stockwell has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration at the Sigatoka project 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 Stockwell has a beneficial interest as a shareholder of Dome Gold Mines Ltd and consents to the inclusion in this report of the matters based on the information in the form and context in which it appears. 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 2022 were as follows: Issue of share capital For the year ended 30 June 2022, Dome has raised $8,745,380 by private placements. The funds were used for exploration, general working capital and loan repayment. Details of share issues are as follows:  On 15 July 2021 the Company completed a placement of 3,000,000 fully paid ordinary shares at $0.20 per share to raise $600,000.  On 18 August 2021 the Company completed a placement of 9,706,900 fully paid ordinary shares at $0.20 per share to raise $1,941,380.  On 13 September 2021 the Company completed a placement of 1,000,000 fully paid ordinary shares at $0.20 per share to raise $200,000.  On 18 October 2021 the Company completed a placement of 1,000,000 fully paid ordinary shares at $0.20 per share to raise $200,000.  On 6 December 2021 the Company completed a placement of 1,000,000 fully paid ordinary shares at $0.20 per share to raise $200,000.  On 31 December 2021 the Company completed a placement of 15,000,000 fully paid ordinary shares at $0.20 per share to raise $3,000,000.  On 20 April 2022 the Company completed a placement of 12,500,000 fully paid ordinary shares at $0.20 per share to raise $2,500,000.  On 29 June 2022 the Company completed a placement of 520,000 fully paid ordinary shares at $0.20 per share to raise $104,000. Issue of unlisted options  On 15 July 2021 the Company issued 6,000,000 unquoted options exercisable at $0.10 each and expiring on 15 July 2024. 25 Dome Gold Mines Ltd and its controlled entities Directors’ Report  On 18 August 2021 the Company issued 1,706,900 unquoted options exercisable at $0.10 each and expiring on 18 August 2024.  On 13 September 2021 the Company issued 1,000,000 unquoted options exercisable at $0.10 each and expiring on 13 September 2024.  On 24 November 2021 the Company issued 2,000,000 unquoted options exercisable at $0.20 each and expiring on 24 November 2023.  On 24 November 2021 the Company issued 18,706,900 unquoted options exercisable at $0.10 each and expiring on 24 November 2024.  On 26 November 2021 the Company issued 2,000,000 unquoted options exercisable at $0.10 each and expiring on 26 November 2024.  On 6 December 2021 the Company issued 2,000,000 unquoted options exercisable at $0.10 each and expiring on 6 December 2024.  On 31 December 2021 the Company issued 30,000,000 unquoted options exercisable at $0.10 each and expiring on 31 December 2024.  On 20 April 2022 the Company issued 31,250,000 unquoted options exercisable at $0.10 each and expiring on 20 April 2025.  On 29 June 2022 the Company issued 520,000 unquoted options exercisable at $0.10 each and expiring on 29 June 2025. Expiration of unlisted options  On 11 July 2021, 1,250,000 unquoted options of the Company expired unexercised.  On 24 July 2021, 375,000 unquoted options of the Company expired unexercised.  On 26 July 2021, 1,250,000 unquoted options of the Company expired unexercised.  On 16 August 2021, 9,725,000 unquoted options of the Company expired unexercised.  On 1 November 2021, 3,457,807 unquoted options of the Company expired unexercised.  On 10 December 2021, 400,000 unquoted options of the Company expired unexercised.  On 31 January 2022, 650,000 unquoted options of the Company expired unexercised.  On 31 March 2022, 960,000 unquoted options of the Company expired unexercised. DIVIDENDS No dividends were declared or paid during the financial year (2021: $nil). EVENTS ARISING SINCE THE END OF THE REPORTING PERIOD Subsequent to the end of the financial year: Renewal of SPL1452 An application to renew SPL1452 for a further 3-year period was submitted to the Mineral Resources Department on 26 August 2022, the expiry date of the current licence. While the renewal application is being processed the licence remains in force. The remaining commitment of $1,075,306 lapsed on the renewal date of 26 August 2022.The renewal application included an estimated commitment of $800,000. Sigatoka Iron and Industrial Sand Heavy Mineral Project From 1 July 2022, the Group entered into the following agreements for the Definitive Feasibility Study of Sigatoka Iron Sand Project. Company Flagstaff PCM Pty Ltd AMC Consultants Pty Ltd DRA Pacific Pty Ltd Haskoning Australia Pty Ltd Smith Geoscience Consultancy (Fiji) Scope of work DFS project management Mine planning Process and non-process packages A$1,115,320 Marine study Environmental Impact Assessment A$86,110 F$610,863 Estimated contract value $ A$998,000 A$128,390 26 Dome Gold Mines Ltd and its controlled entities Directors’ Report Bank Guarantees to MRD Bank guarantees of $143,582 have been provided to MRD since the end of the financial year. Bonds for all tenements are up to date as at the reporting date. 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 John V McCarthy Tadao Tsubata Sarah E Harvey (appointed on 24 September 2021) BOARD MEETINGS AUDIT COMMITTEE MEETINGS* Entitled to attend 3 3 3 Attended 3 2 3 Entitled to attend - - - Attended - - - *Audit Committee discontinued since the end of January 2021 and the Board took over the responsibilities to oversee the financial reports. 27 Dome Gold Mines Ltd and its controlled entities Directors’ Report UNISSUED SHARES UNDER OPTION Unissued ordinary shares of Dome under option as at 30 June 2022 were as follows: Number of options 3,150,000 2,700,000 900,000 270,000 2,566,126 4,200,000 8,200,000 6,000,000 1,706,900 1,000,000 2,000,000 18,706,900 2,000,000 2,000,000 30,000,000 31,250,000 520,000 Exercise price $ 0.17 $ 0.10 $ 0.10 $ 0.10 $ 0.10 $ 0.10 $ 0.10 $ 0.10 $ 0.10 $ 0.10 $ 0.20 $ 0.10 $ 0.10 $ 0.10 $ 0.10 $ 0.10 $ 0.10 Expiry date 24 July 2023 31 December 2022 2 March 2023 2 March 2024 15 March 2024 10 June 2024 30 June 2024 15 July 2024 18 August 2024 13 September 2024 24 November 2023 24 November 2024 26 November 2024 6 December 2024 31 December 2024 20 April 2025 29 June 2025 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. 28 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 and the non-executives. 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. 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 only directors’ fees. 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 2022, 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 2022 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 2022 2021 2020 2019 2018 EPS (cents) Dividends (cents per share) Net loss ($) Share price ($) (0.60) - (1,989,393) 0.27 (0.75) - (2,238,036) 0.15 (0.70) - (2,003,468) 0.20 (0.65) - (1,770,486) 0.20 (0.66) - (1,704,321) 0.14 The Board considers that these indices do not have any impact on the Group’s performance. 29 Dome Gold Mines Ltd and its controlled entities Directors’ Report b. Details of the nature and amount of each major element of the remuneration of key management personnel of the Group are shown in the table below: Details of remuneration Key Management Personnel Remuneration Short term employee benefits Post-employment benefits Share-based payments John McCarthy (Chairman) Tadao Tsubata (Director) Sarah Harvey (Director)* Garry Lowder (Director)** 2022 Total 2021 Total Cash salary and fees $ 96,000 45,935 66,000 60,000 51,000 35,000 - 58,448 213,000 199,383 Year 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 Other fees $ 6,075 - - - - - - - 6,075 - Accrued fees $ Superannuation $ - - - - - - - - - - - - - - - - - 5,552 - 5,552 Fair value of options $ 160,287 - - - - - - - 160,287 - Total $ 262,362 45,935 66,000 60,000 51,000 35,000 - 64,000 379,362 204,935 Proportion of remuneration performance related % Value of options as a proportion of remuneration % - - - - - - - - - - - - - - - - - - - - No other 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 2022. Other fees represented consulting fees for consulting services provided. * Sarah Harvey was appointed as a non-executive Director of the Company on 24 September 2021. **Garry Lowder retired from the Dome Board on 28 February 2021. 30 Dome Gold Mines Ltd and its controlled entities Directors’ Report c. Share-based remuneration 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. Options were granted to Directors as part of their remuneration during the year ended 30 June 2022. 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 Number granted Grant date John McCarthy 2,000,000 24/11/2021 Value per option at grant date $0.0801 Value of options at grant date $160,287 Number vested Exercise price 2,000,000 $0.20 Vesting and first exercise date 24/11/2021 Last exercise date 24/11/2023 The options were provided at no cost to the recipient. All options expire on their expiry date. There were no options over ordinary shares of the Company exercised, forfeited or lapsed which are related to Directors’ or key management personnel’s remuneration during the year ended 30 June 2022. No terms of equity-settled share-based payment transactions have been altered or modified by the issuing entity during the 2022 financial year. d. Other information Options held by key management personnel The number of options to acquire shares in the Company during the 2022 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 2022 Balance at start of year Granted as remuneration Received on exercise Other changes Held at the end of reporting period John McCarthy Tadao Tsubata Sarah Harvey - - - 2,000,000 - - - - - - - 2,566,126* 2,000,000 - 2,566,126 *Sarah Harvey held 2,566,126 options at the date of appointment (24 September 2021). 31 Dome Gold Mines Ltd and its controlled entities Directors’ Report Shares held by key management personnel The number of ordinary shares in the Company during the 2022 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 2022 Balance at start of year Granted as remuneration Received on exercise Other changes Held at the end of reporting period John McCarthy Tadao Tsubata Sarah Harvey 260,000 52,342,393 - - - - - - - - (331,500) 23,342,625* 260,000 52,010,893 23,342,625 *Sarah Harvey held 23,342,625 shares at the date of appointment (24 September 2021). 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. Directors’ and Officers’ Interests and Benefits As at the date of this report, the direct and indirect interests of the Directors and officers in the securities of the Company are as follows: John McCarthy Tadao Tsubata Sarah Harvey Options Ordinary Shares 2,000,000 - 2,566,126 260,000 52,010,893 23,342,625 Note that no shares or options have been resolved to be issued by way of short term and long-term incentives to Directors. Equity based remuneration following the end of the reporting period and up to the date of this report There is no proposal to issue shares to Directors as part of their remuneration. End of audited remuneration report. 32 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 18 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. 33 Grant Thornton Audit Pty Ltd Level 17 383 Kent Street Sydney NSW 2000 Locked Bag Q800 Queen Victoria Building NSW 1230 T +61 2 8297 2400 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 2022, I declare that, to the best of my knowledge and belief, there have been: a no contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the audit; and b no contraventions of any applicable code of professional conduct in relation to the audit. Grant Thornton Audit Pty Ltd Chartered Accountants C F Farley Partner – Audit & Assurance Sydney, 29 September 2022 www.grantthornton.com.au ACN-130 913 594 Grant Thornton Audit Pty Ltd ACN 130 913 594 a subsidiary or related entity of Grant Thornton Australia Limited ABN 41 127 556 389 ACN 127 556 389. ‘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 Limited 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 ACN 127 556 389 and its Australian subsidiaries and related entities. Liability limited by a scheme approved under Professional Standards Legislation. 35w Dome Gold Mines Ltd and its controlled entities Corporate Governance Statement The Board is committed to maintaining 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. The Company has reviewed its corporate governance practices against the Corporate Governance Principles and Recommendations (4th edition) published by the ASX Corporate Governance Council. The 2022 corporate governance statement is dated 29 September 2022 and reflects the corporate governance practices throughout the 2022 financial year. The board approved the 2022 corporate governance on 29 September 2022. A description of the Company’s current corporate governance practices is set out in the Company’s corporate governance statement, which can be viewed at http://www.equusmining.com/corporate-governance/. 36 Dome Gold Mines Ltd and its controlled entities Consolidated Statement of Profit or Loss and Other Comprehensive Income for the year ended 30 June 2022 Other income Employee benefits expenses (including directors fees) Other expenses Operating loss Depreciation Finance costs Share based payments Gain on foreign exchange Loss on debt settlement Loss before income tax expense Income tax expense Loss for the year Notes 2022 $ 2021 $ 4 5 6 28 1,710 52,457 (461,907) (613,380) (1,355,431) (1,815,628) (1,149,825) (1,710,748) (6,651) (11,930) (160,287) 5,103 - (1,989,393) (149,219) (95,329) - 333 (283,073) (2,238,036) 7 - (1,989,393) - (2,238,036) Other comprehensive income for the year Items that may be reclassified subsequently to profit or loss: Exchange difference on translating foreign controlled entities 92,297 (215,274) Total comprehensive loss for the year (1,897,096) (2,453,310) Earnings per share Basic and diluted loss per share (cents per share) 8 (0.60) (0.75) The above consolidated statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes 37 Dome Gold Mines Ltd and its controlled entities Consolidated Statement of Financial Position as at 30 June 2022 CURRENT ASSETS Cash and cash equivalents Trade and other receivables Other assets TOTAL CURRENT ASSETS NON-CURRENT ASSETS Property, plant and equipment Right-of-use assets Capitalised exploration and evaluation expenditure Other assets TOTAL NON-CURRENT ASSETS TOTAL ASSETS CURRENT LIABILITIES Lease liabilities Trade and other payables Provisions TOTAL CURRENT LIABILITIES NON-CURRENT LIABILITIES Borrowings TOTAL NON-CURRENT LIABILITIES TOTAL LIABILITIES NET ASSETS EQUITY Issued capital Foreign currency translation reserve Share-based payment reserve Accumulated losses TOTAL EQUITY Notes 9 10 11 12 13 14 11 13 15 16 2022 $ 4,131,270 48,851 57,483 4,237,604 2021 $ 200,568 53,614 46,569 300,751 70,920 22,387 35,380 - 33,919,537 32,619,597 100,736 97,959 34,113,580 32,752,936 38,351,184 33,053,687 22,662 404,327 12,938 439,927 - - - 278,454 12,082 290,536 899,454 899,454 439,927 1,189,990 37,911,257 31,863,697 17 48,809,155 47,261,940 241,957 149,660 7,498,662 1,534,772 (18,638,517) (17,082,675) 37,911,257 31,863,697 The above consolidated statement of financial position should be read in conjunction with the accompanying notes. 38 Dome Gold Mines Ltd and its controlled entities Consolidated Statement of Changes in Equity for the year ended 30 June 2022 Foreign currency translation reserve $ Share- based payment reserve $ Issued capital $ Accumulated losses $ Total equity $ Balance at 1 July 2020 45,980,034 364,934 103,439 (14,948,078) 31,500,329 Transaction with owners Ordinary shares issued Transaction costs on issue of shares Share-based payments – equity transaction costs (note 28) Share-based payments – loan conversion Transfer between expiry of share options 2,766,904 (233,299) (1,251,699) - - Total transactions with owners 1,281,906 - - - - - - - - 1,251,699 283,073 - - - - 2,766,904 (233,299) - 283,073 (103,439) 103,439 - 1,431,333 103,439 2,816,678 Other comprehensive income Loss for the year Total comprehensive loss for the year - - - (215,274) - (215,274) - - - - (215,274) (2,238,036) (2,238,036) (2,238,036) (2,453,310) Balance at 30 June 2021 47,261,940 149,660 1,534,772 (17,082,675) 31,863,697 Balance at 1 July 2021 47,261,940 149,660 1,534,772 (17,082,675) 31,863,697 Transaction with owners Ordinary shares issued Transaction costs on issue of shares Share-based payments – equity transaction costs (note 28) Employee share-based payments Transfer between expiry of share options 8,745,380 (961,011) (6,237,154) - - Total transactions with owners 1,547,215 - - - - - - - - 6,237,154 160,287 - - - - 8,745,380 (961,011) - 160,287 (433,551) 433,551 - 5,963,890 433,551 7,944,656 Other comprehensive income Loss for the year Total comprehensive loss for the year - - - 92,297 - 92,297 - - - - 92,297 (1,989,393) (1,989,393) (1,989,393) (1,897,096) Balance at 30 June 2022 48,809,155 241,957 7,498,662 (18,638,517) 37,911,257 The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes. 39 Dome Gold Mines Ltd and its controlled entities Consolidated Statement of Cash Flows for the year ended 30 June 2022 CASH FLOWS FROM OPERATING ACTIVITIES Interest received Cash received from government grant / other income Cash paid to suppliers and employees Interest paid Other tax received/(paid) Notes 2022 $ 1,638 - 2021 $ 2,317 63,570 (1,836,565) (1,907,375) (11,930) 3,591 (5,445) (37,921) Net cash used in operating activities 18 (1,843,266) (1,884,854) CASH FLOWS FROM INVESTING ACTIVITIES Cash paid on deposit/advance payment Cash paid on other investment activities Cash received on release of bond/deposit Cash received on 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 (1,029) - - - (60,170) (880,837) (942,036) (8,764) (2,157) 693 500 (542) (164,703) (174,973) Proceeds from issue of share capital, net of costs 7,620,217 2,247,657 Proceeds from borrowings Repayment of lease liabilities Repayment of borrowings Net cash provided by financing activities - (5,322)- (899,453) 6,715,442 81,500 (82,119) - 2,247,038 Net increase in cash and cash equivalents 3,930,140 187,211 Cash and cash equivalents at the beginning of the financial year Exchange differences on cash and cash equivalents 200,568 562 13,642 (285) Cash and cash equivalents at the end of the financial year 9 4,131,270 200,568 The above consolidated statement of cash flows should be read in conjunction with the accompanying notes. 40 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 2022 were approved and authorised for issue by the Board of Directors on 29 September 2022. 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 Level 46, 680 George Street, Sydney 2000. Dome Gold Mines Ltd is the parent company with 100% ownership of:  Magma Mines Pty Ltd;  Dome Mines Pte Ltd (a company limited by shares incorporated in Fiji); and  Magma Mines Pte 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 or amended Accounting Standards and Interpretations issued by the Australian Accounting Standards Board ('AASB') that are mandatory for the current reporting period. Any new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted. 41 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 2022. 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. 42 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. 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. 43 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 (Continued) 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 2-20 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. 44 Dome Gold Mines Ltd and its controlled entities Notes to the Consolidated Financial Statements 3 SUMMARY OF ACCOUNTING POLICIES (CONTINUED) 3.9 Income tax The income tax expense or benefit for the period is the tax payable on that period's taxable income based on the applicable income tax rate for each jurisdiction, adjusted by the changes in deferred tax assets and liabilities attributable to temporary differences, unused tax losses and the adjustment recognised for prior periods, where applicable. Deferred tax assets and liabilities are recognised for temporary differences at the tax rates expected to be applied when the assets are recovered or liabilities are settled, based on those tax rates that are enacted or substantively enacted, except for:  When the deferred income tax asset or liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and that, at the time of the transaction, affects neither the accounting nor taxable profits; or  When the taxable temporary difference is associated with interests in subsidiaries and the timing of the reversal can be controlled and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets are recognised for deductible temporary differences and unused tax losses only if it is probable that future taxable amounts will be available to utilise those temporary differences and losses. The carrying amount of recognised and unrecognised deferred tax assets are reviewed at each reporting date. Deferred tax assets recognised are reduced to the extent that it is no longer probable that future taxable profits will be available for the carrying amount to be recovered. Previously unrecognised deferred tax assets are recognised to the extent that it is probable that there are future taxable profits available to recover the asset. Deferred tax assets and liabilities are offset only where there is a legally enforceable right to offset current tax assets against current tax liabilities and deferred tax assets against deferred tax liabilities; and they relate to the same taxable authority on either the same taxable entity or different taxable entities which intend to settle simultaneously. 3.10 Revenue Revenue from contracts with customers The Group currently does not have any revenue. The SPL licenses of the Group only permit the Group to carry out exploration activities. Once the Group reaches the production phase, revenue will be recognised using the 5-step process: 1 Identifying the contract with a customer 2 Identifying the performance obligations 3 Determining the transaction price 4 Allocating the transaction price to the performance obligations 5 Recognising revenue when/as performance obligation(s) are satisfied. The total transaction price for a contract is allocated amongst the various performance obligations based on their relative stand-alone selling prices. The transaction price for a contract excludes any amounts collected on behalf of third parties. Interest Interest revenue is recognised as interest accrues using the effective interest method. This is a method of calculating the amortised cost of a financial asset and allocating the interest income over the relevant period using the effective interest rate, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to the net carrying amount of the financial asset. 45 Dome Gold Mines Ltd and its controlled entities Notes to the Consolidated Financial Statements 3 SUMMARY OF ACCOUNTING POLICIES (CONTINUED) 3.11 Government grants Government grants are recognised where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. When the grant relates to an expense item, it is recognised as income on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed. When the grant relates to an asset, it is recognised against the asset released to profit or loss over the expected useful life of the related asset as a reduced depreciation charge. 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. 3.14 Financial instruments Recognition and derecognition Financial assets and financial liabilities are recognised when the Group becomes a party to the contractual provisions of the financial instrument. Financial assets are derecognised when the contractual rights to the cash flows from the financial asset expire, or when the financial asset and substantially all the risks and rewards are transferred. A financial liability is derecognised when it is extinguished, discharged, cancelled or expires. Classification and initial measurement of financial assets Except for those trade receivables that do not contain a significant financing component and are measured at the transaction price in accordance with AASB 15, all financial assets are initially measured at fair value adjusted for transaction costs (where applicable). Financial assets, other than those designated and effective as hedging instruments, are classified into the following categories: • amortised cost • fair value through profit or loss (FVTPL) • fair value through other comprehensive income (FVOCI). In the periods presented the corporation does not have any financial assets categorised as FVOCI. The classification is determined by both: • the entity’s business model for managing the financial asset • the contractual cash flow characteristics of the financial asset. All income and expenses relating to financial assets that are recognised in profit or loss are presented within finance costs, finance income or other financial items, except for impairment of trade receivables which is presented within other expenses. 46 Dome Gold Mines Ltd and its controlled entities Notes to the Consolidated Financial Statements 3 SUMMARY OF ACCOUNTING POLICIES (CONTINUED) 3.14 Financial instruments (Continued) Subsequent measurement of financial assets Financial assets at amortised cost Financial assets are measured at amortised cost if the assets meet the following conditions (and are not designated as FVTPL): • they are held within a business model whose objective is to hold the financial assets and collect its contractual cash flows • the contractual terms of the financial assets give rise to cash flows that are solely payments of principal and interest on the principal amount outstanding After initial recognition, these are measured at amortised cost using the effective interest method. 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. Financial assets at fair value through profit or loss (FVTPL) Financial assets that are held within a different business model other than ‘hold to collect’ or ‘hold to collect and sell’ are categorised at fair value through profit and loss. Further, irrespective of business model financial assets whose contractual cash flows are not solely payments of principal and interest are accounted for at FVTPL. All derivative financial instruments fall into this category. Assets in this category are measured at fair value with gains or losses recognised in profit or loss. The fair values of financial assets in this category are determined by reference to active market transactions or using a valuation technique where no active market exists. Impairment of financial assets AASB 9’s impairment requirements use more forward-looking information to recognise expected credit losses – the ‘expected credit loss (ECL) model’. This replaced AASB 139’s ‘incurred loss model’. Instruments within the scope of the new requirements included loans and other debt-type financial assets measured at amortised cost and FVOCI, trade receivables, contract assets recognised and measured under AASB 15 and loan commitments and some financial guarantee contracts (for the issuer) that are not measured at fair value through profit or loss. Recognition of credit losses is no longer dependent on the Group first identifying a credit loss event. Instead the Group considers a broader range of information when assessing credit risk and measuring expected credit losses, including past events, current conditions, reasonable and supportable forecasts that affect the expected collectability of the future cash flows of the instrument. In applying this forward-looking approach, a distinction is made between: • financial instruments that have not deteriorated significantly in credit quality since initial recognition or that have low credit risk (‘Stage 1’) and • financial instruments that have deteriorated significantly in credit quality since initial recognition and whose credit risk is not low (‘Stage 2’). ‘Stage 3’ would cover financial assets that have objective evidence of impairment at the reporting date. ‘12-month expected credit losses’ are recognised for the first category while ‘lifetime expected credit losses’ are recognised for the second category. 47 Dome Gold Mines Ltd and its controlled entities Notes to the Consolidated Financial Statements 3 SUMMARY OF ACCOUNTING POLICIES (CONTINUED) 3.14 Financial instruments (continued) Measurement of the expected credit losses is determined by a probability-weighted estimate of credit losses over the expected life of the financial instrument. Classification and measurement of financial liabilities The Group’s financial liabilities include borrowings, trade and other payables and derivative financial instruments. Financial liabilities are initially measured at fair value, and, where applicable, adjusted for transaction costs unless the Group designated a financial liability at fair value through profit or loss. Subsequently, financial liabilities are measured at amortised cost using the effective interest method except for derivatives and financial liabilities designated at FVTPL, which are carried subsequently at fair value with gains or losses recognised in profit or loss (other than derivative financial instruments that are designated and effective as hedging instruments). All interest-related charges and, if applicable, changes in an instrument’s fair value that are reported in profit or loss are included within finance costs or finance income. 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) Coronavirus (COVID-19) pandemic Judgement has been exercised in considering the impacts that the Coronavirus (COVID-19) pandemic has had, or may have, on the Group based on known information. This consideration extends to the nature of the products and services offered, customers, supply chain, staffing and geographic regions in which the Group operates. The potential impact has been detailed on page 23 of Directors’ Report. (ii) Income tax The Group is subject to income taxes in the jurisdictions in which it operates. Significant judgement is required in determining the provision for income tax. There are many transactions and calculations undertaken during the ordinary course of business for which the ultimate tax determination is uncertain. The Group recognises liabilities for anticipated tax audit issues based on the Group's current understanding of the tax law. Where the final tax outcome of these matters is different from the carrying amounts, such differences will impact the current and deferred tax provisions in the period in which such determination is made. 48 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 (Continued) (iii) Exploration and evaluation expenditure (Note 14) All capitalised exploration and evaluation expenditure ($33,919,537 on 30 June 2022) (2021: $32,619,597) has been capitalised on the basis that:  acquisition of rights to explore; or topographical or geological costs; or drilling and/or trenching; or sampling and assaying; or feasibility studies; or Indirect costs associated with above mentioned costs Expenditure relates to: - - - - - - 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 approval of the consolidated financial statements, all licences have been renewed and are up to date.    (iv) Going concern (Note 3.16) 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 $1,989,393 (2021: $2,238,036), used $2,847,586 (2021: $2,049,557) of net cash in operations including payments for exploration during the year ended 30 June 2022, and has a cash balance of $4,131,270 at 30 June 2022 (2021: $200,568), and current assets exceed current liabilities by $3,797,677 (2021: $10,215). While the Group cash position has improved, given the Group is going ahead with the DFS of SPL1495 as well as other exploration work, the ongoing operation of the Group remains dependent upon: the Group raising additional funding from shareholders or other parties; and/or the Group reducing expenditure in-line with available funding;    extension of the borrowing facilities. The directors confirm the Group is solvent as at the reporting date. Furthermore, there exists facilities of $4,460,000 which are unused as at the reporting date. $960,000 of the loan facilities have been extended to 31 December 2022, and $3,500,000 of the loan facilities have been extended to 31 December 2024 as at the reporting date. 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, a material uncertainty would exist pertinent to the going concern assumption it may not be able to continue its operations 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. 49 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- financial 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 assets’ 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-based payment reserve – comprises fair value of options granted to the Company’s Directors and contractor, the issue of options in lieu of services provided as part of equity transactions, and the issue of options to extinguish debt; 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. 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. 50 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) 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 Right-of-use assets A right-of-use asset is recognised at the commencement date of a lease. The right-of-use asset is measured at cost, which comprises the initial amount of the lease liability, adjusted for, as applicable, any lease payments made at or before the commencement date net of any lease incentives received, any initial direct costs incurred, and, except where included in the cost of inventories, an estimate of costs expected to be incurred for dismantling and removing the underlying asset, and restoring the site or asset. Right-of-use assets are depreciated on a straight-line basis over the unexpired period of the lease or the estimated useful life of the asset, whichever is the shorter. Where the Group expects to obtain ownership of the leased asset at the end of the lease term, the depreciation is over its estimated useful life. Right-of use assets are subject to impairment or adjusted for any remeasurement of lease liabilities. The Group has elected not to recognise a right-of-use asset and corresponding lease liability for short-term leases with terms of 12 months or less and leases of low-value assets. Lease payments on these assets are expensed to profit or loss as incurred. 3.21 Lease liabilities A lease liability is recognised at the commencement date of a lease. The lease liability is initially recognised at the present value of the lease payments to be made over the term of the lease, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Group’s incremental borrowing rate. Lease payments comprise of fixed payments less any lease incentives receivable, variable lease payments that depend on an index or a rate, amounts expected to be paid under residual value guarantees, exercise price of a purchase option when the exercise of the option is reasonably certain to occur, and any anticipated termination penalties. Lease liabilities are measured at amortised cost using the effective interest method. The carrying amounts are remeasured if there is a change in the following: future lease payments arising from a change in an index or a rate used; residual guarantee; lease term; certainty of a purchase option and termination penalties. When a lease liability is remeasured, an adjustment is made to the corresponding right-of use asset, or to profit or loss if the carrying amount of the right-of-use asset is fully written down. 3.22 Share-based payments The Group operates equity-settled share-based payments for its directors, contractors and brokers in exchange for the rendering of services. Equity-settled share-based payments were also provided for a loan settlement. 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, contractors and brokers 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). 51 Dome Gold Mines Ltd and its controlled entities Notes to the Consolidated Financial Statements 3 SUMMARY OF ACCOUNTING POLICIES (CONTINUED) 3.22 Share-based payments (Continued) The cost of equity-settled share-based payments provided for directors’ remuneration or loan settlement is ultimately recognised as an expense in profit or loss with a corresponding credit to share-based payment 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. The cost of equity-settled share-based payments provided for brokers rendering fund raising services is recognised as issue costs under equity with a corresponding credit to share-based payment 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 Government grant – cash boost Total other income 5 OTHER EXPENSES Consultant expenses Loss on disposal of property, plant & equipment Office expenses Other expenses Short-term lease expenses Total other expenses 6 FINANCE COSTS Interest expenses for borrowings at amortised cost - Related party - Third party Interest on lease liabilities Other 2022 $ 1,710 - 1,710 967,197 - 237,908 57,926 92,400 1,355,431 424 11,506 - - 11,930 2021 $ 2,457 50,000 52,457 787,117 8,874 285,560 30,774 37,500 1,149,825 43,619 46,264 3,757 1,689 95,329 52 Dome Gold Mines Ltd and its controlled entities Notes to the Consolidated Financial Statements 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 25% (2021: 26%) 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 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 2022 $ - - - 2021 $ - - - (1,989,393) (2,238,036) (497,348) (581,889) 44,369 445,936 6,451 592 - 115,487 507,339 (41,957) 1,020 - 4,145,786 18,766 (1,140,649) 3,023,903 3,884,363 14,027 (1,082,452) 2,815,938 (1,989,393) (2,238,036) No of Shares Weighted average number of shares at the end of the year used in basic and diluted loss per share 329,706,352 296,707,395 Basic and diluted loss per share (cents) (0.60) (0.75) As the Group is loss making, none of the potentially dilutive securities are currently dilutive. 53 Dome Gold Mines Ltd and its controlled entities Notes to the Consolidated Financial Statements 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 10 TRADE AND OTHER RECEIVABLES Other receivables Other tax receivables Total trade and other receivables 11 OTHER ASSETS Current Bond deposit Prepayments Total other current assets Non-current Bond deposit (refer to note below) Other Total other non-current assets 2022 $ 4,131,270 4,131,270 26 48,825 48,851 7,500 49,983 57,483 97,698 3,038 100,736 2021 $ 200,568 200,568 26 53,588 53,614 7,500 39,069 46,569 94,974 2,985 97,959 Bond deposits are held as security against tenements held by the Group. These are restricted until exploration licenses are relinquished or transferred to a separate license. 54 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 2022 $ 6,159 (4,583) 1,576 13,501 (12,904) 597 549,049 (486,260) 62,789 52,952 (46,994) 5,958 70,920 2021 $ 5,620 (4,749) 871 14,080 (12,552) 1,528 494,340 (472,663) 21,677 51,647 (40,343) 11,304 35,380 55 Dome Gold Mines Ltd and its controlled entities Notes to the Consolidated Financial Statements 12 PROPERTY, PLANT AND EQUIPMENT (CONTINUED) 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 Total $ $ Gross carrying amount Balance at 1 July 2020 Additions Disposals Net exchange difference Balance at 30 June 2021 Depreciation and impairment Balance at 1 July 2020 Depreciation Disposals Net exchange difference 6,373 - (562) (191) 5,620 (3,965) (1,450) 562 104 14,669 514,513 63,571 599,126 - - (589) 14,080 - - 542 542 (12,466) (13,028) (20,173) 494,340 - (20,953) 51,647 565,687 (11,857) (1,172) - 477 (454,644) (32,822) (503,288) (35,784) (10,612) (49,018) - 17,765 3,091 - 3,653 18,346 Balance at 30 June 2021 (4,749) (12,552) (472,663) (40,343) (530,307) Carrying amount as at 30 June 2021 871 1,528 21,677 11,304 35,380 Exploration computer equipment $ Exploration furniture and fittings $ Exploration plant and equipment $ Office equipment Total $ $ Gross carrying amount Balance at 1 July 2021 Additions Disposals Net exchange difference Balance at 30 June 2022 Depreciation and impairment Balance at 1 July 2021 Depreciation Disposals Net exchange difference 5,620 1,433 (966) 72 6,159 (4,749) (745) 966 (55) 14,080 - (830) 251 13,501 494,340 68,629 (22,519) 8,599 549,049 51,647 565,687 1,305 71,367 - - (24,315) 8,922 52,952 621,661 (12,552) (472,663) (40,343) (530,307) (959) 830 (223) (19,003) (6,651) (27,358) 13,620 (8,214) - - 15,416 (8,492) Balance at 30 June 2022 (4,583) (12,904) (486,260) (46,994) (550,741) Carrying amount as at 30 June 2022 1,576 597 62,789 5,958 70,920 56 Dome Gold Mines Ltd and its controlled entities Notes to the Consolidated Financial Statements 13 LEASES The Group entered a long-term operating lease commitment of office lease in Fiji on 1 April 2022. The lease is reflected on the balance sheet as a right-of-use asset and a lease liability. The table below describes the nature of the Group’s leasing activities recognised on the balance sheet. Right-of-use assets No of right- of-use assets leased Remaining lease term No of leases with extension options No of leases with options to purchase No of leases with termination options No of leases with variable payments linked to an index Office 1 12 months - - - - The Group has a short-term operating lease commitment of office lease in Australia, expiring within one month. The Group elects to apply the recognition exemptions of AASB 16 to the lease and recognises lease payments as an expense on a straight-line basis. The Group had a short-term office lease in Fiji prior to April 2022. The lease expired during the year ended 30 June 2022, and the lease payments were recognised as an expense on a straight-line basis. Right-of-use Assets the amount of the initial measurement of lease liability Right-of-use assets are measured at cost comprising the following:   any lease payments made at or before the commencement date less any lease incentives received  any initial direct costs, and  restoration costs. Right-of-use assets are generally depreciated over the shorter of the asset's useful life and the lease term on a straight-line basis. If the Group is reasonably certain to exercise a purchase option, the right-of-use asset is depreciated over the underlying asset’s useful life. Right-of-use assets are presented in the statement of financial position as follows: Non-current assets Right-of-use assets Less: Accumulated depreciation Consolidated 2022 $ 27,984 (5,597) 22,387 2021 $ - - - As at the reporting date, the consolidated entity has one leased office premise under operating leases expiring in one year, with in certain instances options to extend. On renewal, the terms of the lease are renegotiated. 57 Dome Gold Mines Ltd and its controlled entities Notes to the Consolidated Financial Statements 13 LEASES (CONTINUED) Reconciliations Reconciliations of the written down values at the beginning and end of the current and previous financial year are set out below: Consolidated Balance at 30 June 2021 Additions Other adjustment of depreciation capitalised Balance at 30 June 2022 Right-of-use assets Office Total right-of-use assets Lease Liabilities $ - 27,984 (5,597) 22,387 30 June 2022 $ 30 June 2021 $ 22,387 22,387 - - Lease liabilities include the net present value of the following lease payments:   variable lease payment that are based on an index or a rate, initially measured using the index or rate fixed payments (including in-substance fixed payments), less any lease incentives receivable; as at the commencement date;  amounts expected to be payable by the Group under residual value guarantees; the exercise price of a purchase option if the group is reasonably certain to exercise that option; and   payments of penalties for terminating the lease, if the lease term reflects the group exercising that option. Lease payments to be made under reasonably certain extension options are also included in the measurement of the liability. The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, the entity’s incremental borrowing rate is used, being the rate that the individual lessee would have to pay to borrow the funds necessary to obtain an asset of similar value to the right-of-use asset in a similar economic environment with similar terms, security and conditions. To determine the incremental borrowing rate, the Group uses recent arm's length borrowing rate received as a starting point, adjusted to reflect changes in financing conditions since borrowing was received, making adjustments specific to the lease (e.g. term, country, currency and security). Lease payments are allocated between principal and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. Lease liabilities are presented in the statement of financial position as follows: Current Non-current Total lease liabilities 22,662 - 22,662 - - - 58 Dome Gold Mines Ltd and its controlled entities Notes to the Consolidated Financial Statements 13 LEASES (CONTINUED) The lease liabilities are secured by the related underlying assets. Future minimum lease payments at 30 June 2022 were as follows: 30 June 2022 Lease payments Finance charges Net present value 30 June 2021 Lease payments Finance charges Net present value Minimum lease payments due Within one year $ 23,711 (1,049) 22,662 One to two years $ - - - - - - - - - Total $ 23,711 (1,049) 22,662 - - - Additional profit or loss and cash flow information Amounts recognised in the statement of profit or loss and other comprehensive income: Depreciation* Interest expenses on lease* Short-term lease expenses Amounts recognised in the statement of cash flows: Repayment of lease liabilities Interest paid Short-term lease payments Amount recognised as part of exploration cost payments capitalised Total cash outflow in respect of leases in the year 30 June 2022 $ - - 92,400 30 June 2021 $ 138,607 3,757 37,500 5,322- - 92,700 9,497 107,519 82,119 3,757 45,000 13,608 144,484 *Depreciation of $5,597 and Interest of $606 on lease were capitalised as at 30 June 2022. 14 CAPITALISED EXPLORATION AND EVALUATION EXPENDITURE Balance at 1 July 2020 Expenditure capitalised during the year Balance at 30 June 2021 Balance at 1 July 2021 Expenditure capitalised during the year Balance at 30 June 2022 $ 32,585,436 34,161 32,619,597 32,619,597 1,299,940 33,919,537 The Directors have considered the requirements of AASB 6: Exploration for and Evaluation of Mineral Resources including requirements pertinent to impairment indicators for each area of interest. Based on this review, the Directors have confirmed that there are no indicators of impairment for each area of interest as at 30 June 2022. 59 Dome Gold Mines Ltd and its controlled entities Notes to the Consolidated Financial Statements 15 TRADE AND OTHER PAYABLES Current Accruals Trade creditors Other payables Total trade and other payables 16 BORROWINGS Current Loan from third party Total borrowings Non-current Loan from third party Loan from related party Total borrowings 2022 $ 282,757 115,120 6,450 404,327 - - - - - 2021 $ 215,019 44,685 18,750 278,454 - - 899,454 - 899,454 The Company has one loan facility with related party and two loan facilities with third parties as at the reporting date. The outstanding loan payable on the first third party loan facility as at 30 June 2022 is Nil (2021: $153,958). The agreed interest rate on this unsecured loan is 10%. The facility is not secured. The facility available is $160,000 and extended to 31 December 2022 prior to the reporting period. The outstanding loan payable to the second third party loan facility as at 30 June 2022 is Nil (2021: $745,496). The agreed interest rate on the unsecured loan is 10%. The facility is not secured. The facility available is $800,000 and extended to 31 December 2022 prior to the reporting period. There is no outstanding loan payable on the related party facility as at 30 June 2022 (2021: Nil). The total facility of the Company with this related party is $3,500,000 as at 30 June 2022. The agreed interest rate on the unsecured loan is 5%. The facility is not secured. The facility has been extended to 31 December 2024 during the reporting period. 60 Dome Gold Mines Ltd and its controlled entities Notes to the Consolidated Financial Statements 17 ISSUED CAPITAL 2022 2021 Shares $ Shares $ Ordinary shares fully paid 350,104,136 48,809,155 306,377,236 47,261,940 Movements in ordinary share capital Ordinary shares No. of shares $ Balance at 1 July 2020 291,488,952 45,980,034 Fully paid ordinary shares issued 24 July 2020 at $0.17 3,150,000 535,500 Fully paid ordinary shares issued 2 November 2020 at $0.15 Fully paid ordinary shares issued 31 December 2020 at $0.20 Fully paid ordinary shares issued 2 March 2021 at $0.20 Fully paid ordinary shares issued 15 March 2021 at $0.16 Fully paid ordinary shares issued 10 June 2021 at $0.20 Fully paid ordinary shares issued 30 June 2021 at $0.20 Less costs of issue Balance at 30 June 2021 272,158 1,800,000 900,000 2,566,126 2,100,000 4,100,000 40,824 360,000 180,000 410,580 420,000 820,000 - (1,484,998) 306,377,236 47,261,940 Balance at 1 July 2021 306,377,236 47,261,940 Fully paid ordinary shares issued 15 July 2021 at $0.20 3,000,000 600,000 Fully paid ordinary shares issued 18 August 2021 at $0.20 Fully paid ordinary shares issued 13 September 2021 at $0.20 Fully paid ordinary shares issued 18 October 2021 at $0.20 Fully paid ordinary shares issued 6 December 2021 at $0.20 Fully paid ordinary shares issued 13 December 2021 at $0.20 Fully paid ordinary shares issued 20 April 2022 at $0.20 Fully paid ordinary shares issued 29 June 2022 at $0.20 Less costs of issue** Balance at 30 June 2022 9,706,900 1,000,000 1,000,000 1,000,000 15,000,000 12,500,000 520,000 - 1,941,380 200,000 200,000 200,000 3,000,000 2,500,000 104,000 (7,198,165) 350,104,136 48,809,155 **Included in costs of issue are cash payments of $961,011 and $6,237,154 in respect of the fair value of options issued to brokers in lieu of service (see note 28). 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. 61 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 Loss on debt settlement Gain on exchange differences Changes in other assets and liabilities Decrease/(Increase) in trade receivables and other assets (Decrease)/increase in trade and other payables Share based payments 2022 $ 2021 $ 4,131,270 200,568 (1,989,393) (2,238,036) 6,651 - - (5,226) (5,958) 39,113 (48,740) 160,287 149,219 8,874 283,073 - (4,217) (138,563) 54,796 - Net cash used in operating activities (1,843,266) (1,884,854) Non-cash financing activities includes share-based payments issued to brokers in lieu of services provided of $6,237,154. 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 85,000 85,000 65,000 65,000 62 Dome Gold Mines Ltd and its controlled entities Notes to the Consolidated Financial Statements 20 RELATED PARTY TRANSACTIONS (a) The Group has loans from related parties as described below. Loan from related parties Beginning of the year Transferred from loan from a third party Loans advanced Loan repayments Interest charged Transferred to loan from third parties End of period The agreed interest on the loans is 10%. 2022 $ - 53,541 - (53,965) 424 - - 2021 $ 761,517 - 61,500 - 43,619 (866,636) - (b) Transactions with key management personnel Key management of the Group are Dome’s members of Board of Directors. Key management personnel remuneration is shown in the table below: Short term employee benefits Cash salaries and fees Accrued fees Total short-term employee benefits Post-employment benefits Superannuation Total post-employment benefits Share-based payments 219,075 - 219,075 - - 160,287 199,383 - 199,383 5,552 5,552 - Total remuneration 379,362 204,935 There are no other related party transactions during the year ended 30 June 2022. 21 CONTINGENCIES AND COMMITMENTS Minimum tenement expenditure requirements Within one year Between one to five years Total 1,720,304 2,596,774 4,317,078 2,589,598 431,388 3,020,986 The minimum tenement expenditure requirements are guidelines only by the Mineral Resources Department in Fiji. SPL 1451 is valid until 24 June 2023, SPL 1495 has been renewed for another 3 years from 27th April 2022 to 26th April 2025, and SPL 1452 expired on 26 August 2022. An application to renew SPL1452 for a further 3-year period was submitted to the Mineral Resources Department with an estimated commitment of $800,000 on 26 August 2022, the expiry date of the current licence. While the renewal application is being processed the licence remains in force. The Company is confident that the licence will be renewed. During the processing of the renewal application, the SPL continues as if in force and work on the project area is not prohibited. 63 Dome Gold Mines Ltd and its controlled entities Notes to the Consolidated Financial Statements 21 CONTINGENCIES AND COMMITMENTS (CONTINUED) Additional bond requirements Within one year Between one to five years Total Bond deposits 2022 $ - 65,863 65,863 2021 $ 135,887 - 135,887 The Group has bond deposits totalling $105,198 (2021: $102,474) as at 30 June 2022. Bank guarantees of $143,582 have been provided to MRD since the end of the financial year. There are no other contingent assets or liabilities as at the date of this financial report. 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. 64 Dome Gold Mines Ltd and its controlled entities Notes to the Consolidated Financial Statements 22 SEGMENT REPORTING (CONTINUED) Business segments For the year ended 30 June 2022 the Group principally operated in Fiji in the mineral exploration sector. The Group has two reportable segments, as described below. Operating Segment Ironsand Project Gold Projects $ $ Corporate Consolidated total $ $ 30 June 2021 Segment revenue External revenue Finance income Total revenue Depreciation - 918 918 - - 489 489 50,000 1,050 51,050 50,000 2,457 52,457 - (149,219) (149,219) Segment profit/(loss) (8,411) (9,069) (2,220,556) (2,238,036) Segment assets 29,729,112 3,022,621 301,954 33,053,687 Segment liabilities 3,129,167 2,470,437 (4,409,614) 1,189,990 30 June 2022 Segment revenue External revenue Finance income Total revenue Depreciation Share based payments - 715 715 - - - 381 381 - - - 614 614 - 1,710 1,710 (6,651) (6,651) (160,287) (160,287) Segment profit/(loss) (4,453) (8,336) (1,976,604) (1,989,393) Segment assets 31,078,128 3,074,258 4,198,798 38,351,184 Segment liabilities 4,090,101 2,541,646 (6,191,820) 439,927 65 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 corporate assets Consolidated assets Liabilities Total liabilities for reportable segments Intercompany eliminations Other corporate liabilities Consolidated liabilities 23 PARENT ENTITY DISCLOSURES 2022 $ 2021 $ (12,789) (1,976,604) (1,989,393) 34,152,386 (6,636,455) 10,835,253 38,351,184 6,631,747 (6,636,455) 444,635 439,927 (17,480) (2,220,556) (2,238,036) 32,751,733 (5,921,536) 6,223,490 33,053,687 5,599,604 (5,921,536) 1,511,922 1,189,990 As at and throughout the financial year ended 30 June 2022 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-based payment reserve Total equity (1,976,213) 99,852 (1,876,361) 10,491,756 27,441,226 37,932,982 119,588 - 119,588 37,813,394 48,809,155 (18,505,724) 11,301 7,498,662 37,813,394 (2,220,568) (232,184) (2,452,752) 5,876,286 27,045,822 32,922,108 277,257 899,453 1,176,710 31,745,398 47,261,940 (16,962,763) (88,551) 1,534,772 31,745,398 The Directors are of the opinion that no contingencies existed at, or subsequent to year end. 66 Dome Gold Mines Ltd and its controlled entities Notes to the Consolidated Financial Statements 24 POST-REPORTING DATE EVENTS Subsequent to the end of the financial year: Renewal of SPL1452 An application to renew SPL1452 for a further 3-year period was submitted to the Mineral Resources Department on 26 August 2022, the expiry date of the current licence. While the renewal application is being processed the licence remains in force. The remaining commitment of $1,075,306 lapsed on the renewal date of 26 August 2022. The renewal application included an estimated commitment of $800,000. Sigatoka Iron and Industrial Sand Heavy Mineral Project From 1 July 2022, the Group entered into the following agreements for the Definitive Feasibility Study of Sigatoka Iron Sand Project. Company Flagstaff PCM Pty Ltd AMC Consultants Pty Ltd DRA Pacific Pty Ltd Haskoning Australia Pty Ltd Smith Geoscience Consultancy (Fiji) Scope of work DFS project management Mine planning Process and non-process packages A$1,115,320 Marine study Environmental Impact Assessment A$86,110 F$610,863 Estimated contract value $ A$998,000 A$128,390 Bank Guarantees to MRD Bank guarantees of $143,582 have been provided to MRD since the end of the financial year. Bonds for all tenements are up to date as at the reporting date. 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. 25 SUBSIDIARIES Particulars in relation to controlled entities: Controlled entities Dome Mines Pte Limited Magma Mines Pty Ltd Magma Mines Pte Limited Country of incorporation Company interest in ordinary shares 2022 % 100 100 100 2021 % 100 100 100 Fiji Australia Fiji 67 Dome Gold Mines Ltd and its controlled entities Notes to the Consolidated Financial Statements 26 FINANCIAL INSTRUMENT RISK 26.1 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. 26.2 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 2022. 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% (2021: 5%) then this would have had the following impact: 30 June 2022 30 June 2021 Profit for the year $ - - Equity $ 299,914 265,994 If the AUD had weakened against the FJD by 5% (2021: 5%) then this would have had the following impact: 30 June 2022 30 June 2021 Profit for the year $ - - Equity $ (299,914) (265,994) 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. 68 Dome Gold Mines Ltd and its controlled entities Notes to the Consolidated Financial Statements 26 FINANCIAL INSTRUMENT RISK (CONTINUED) 26.2 Market risk analysis (continued) 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. On 30 June 2022, the Group is not exposed to changes in market interest rates through borrowings as all borrowings are at fixed interest rates. On 30 June 2022, 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: 2022 Weighted average interest rate % Balance $ 2021 Weighted average interest rate % Balance $ Cash and cash equivalents 0.28 4,131,270 0 200,568 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). 2022 +0.5% $ -0.5% $ 2021 +0.5% $ -0.5% $ Profit/(loss) for the year 1,003 (1,003) - - 26.3 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 Bond deposit Carrying amount 2022 $ 4,131,270 48,851 105,198 4,285,319 2021 $ 200,568 53,614 102,474 356,656 69 Dome Gold Mines Ltd and its controlled entities Notes to the Consolidated Financial Statements 26 FINANCIAL INSTRUMENT RISK (CONTINUED) 26.3 Credit risk analysis (continued) 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. 26.4 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. The carrying amount of financial liabilities recognised at the reporting date, as summarised below: 30 June 2022 Carrying value Contractual amount Trade and other payables Lease liability Total $ 404,327 22,662 426,989 Total Within one year $ 404,327 22,662 426,989 $ 404,327 22,662 426,989 30 June 2021 Carrying value Contractual amount Borrowings Trade and other payables Total $ 899,454 278,453 1,177,907 Total Within one year $ - 278,453 278,453 $ 1,016,647 278,453 1,295,100 Between one to five years $ - - - Between one to five years $ 1,016,647 - 1,016,647 70 Dome Gold Mines Ltd and its controlled entities Notes to the Consolidated Financial Statements 27 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. 28 SHARE-BASED PAYMENTS During the year ended 30 June 2022,49,716,900 options were issued in exchange for goods or services provided and 2,000,00 options were granted to a non-executive Director as part of the remuneration package. The fair values of options granted were determined using a variation of the Black-Scholes option pricing model utilising the key inputs including the Group’s risk-free borrowing rate and volatility of the Group’s shares. The fair value is appraised at the grant date and excludes the impact of non-market vesting conditions. 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. 71 Dome Gold Mines Ltd and its controlled entities Notes to the Consolidated Financial Statements 28 SHARE-BASED PAYMENTS (CONTINUED) 28.1 Shares issued in lieu of brokerage fees Awarded during the year ended 30 June Award date and vesting date Expiry date Fair value of options at award date Exercise price Risk free rate (%) Expected volatility (%) Value of options granted during the year ($) Amount of share issue costs recognised ($) 2020 1,250,000 26/07/2019 26/07/2021 $0.0558 3,225,000 16/08/2019 16/08/2021 $0.0589 1/11/2021 $0.0564 1,467,881 400,000 10/12/2019 10/12/2021 $0.0595 150,000 31/01/2020 31/01/2022 $0.0643 960,000 31/03/2020 31/03/2022 $0.0600 1/11/2019 2021 3,150,000 24/07/2020 24/07/2023 $0.0698 900,000 31/12/2020 31/12/2022 $0.0963 2/03/2024 $0.0884 270,000 2,100,000 10/06/2021 10/06/2024 $0.0956 4,100,000 30/06/2021 30/06/2024 $0.0700 2/03/2021 2022 3,000,000 15/07/2021 15/07/2024 $0.0917 1,000,000 13/09/2021 13/09/2024 $0.0834 9,706,900 24/11/2021 24/11/2024 $0.1449 1,000,000 26/11/2021 26/11/2024 $0.1448 1,000,000 6/12/2024 $0.1447 15,000,000 31/12/2021 31/12/2024 $0.1132 20/4/2025 $0.1299 18,750,000 29/6/2025 $0.1851 260,000 20/4/2022 29/6/2022 6/12/2021 $0.20 $0.20 $0.20 $0.20 $0.20 $0.20 $0.17 $0.10 $0.10 $0.10 $0.10 $0.10 $0.10 $0.10 $0.10 $0.10 $0.10 $0.10 $0.10 0.888 0.731 0.834 0.744 0.659 0.251 0.278 0.074 0.139 0.245 0.427 0.15 0.18 0.99 0.93 0.89 0.96 2.55 3.24 55.44 55.49 56.13 56.09 57.66 57.24 69,778 189,884 82,856 23,803 9,643 57,586 433,550 48.66 52.66 56.76 54.58 53.43 219,968 86,649 23,867 200,703 286,961 818,148 1,251,698 275,122 55.06 83,351 49.11 52.87 1,406,729 144,833 52.87 52.87 144,653 53.11 1,698,511 53.46 2,435,839 48,116 48.78 6,237,154 69,778 189,884 82,856 23,803 9,643 57,586 433,550 219,968 86,649 23,867 200,703 286,961 818,148 1,251,698 275,122 83,351 1,406,729 144,833 144,653 1,698,511 2,435,839 48,116 6,237,154 28.2 Options issued as part of the remuneration package Options were granted to a non-executive Director as part of the remuneration package during the year ended 30 June 2022. Options were granted for no consideration. Options awarded during the half-year Award date and vesting date Expiry date Fair value of options at award date Exercise price Risk free rate (%) Expected volatility (%) Value of options granted during the year ($) 2,000,000 24/11/2021 24/11/2023 $0.0801 $0.20 0.54 53.49 $160,287 Amount of share- based payments recognised ($) $160,287 72 Grant Thornton Audit Pty Ltd Level 17 383 Kent Street Sydney NSW 2000 Locked Bag Q800 Queen Victoria Building NSW 1230 T +61 2 8297 2400 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 2022, 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 consolidated 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 2022 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 (including Independence Standards) (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. www.grantthornton.com.au ACN-130 913 594 Grant Thornton Audit Pty Ltd ACN 130 913 594 a subsidiary or related entity of Grant Thornton Australia Limited ABN 41 127 556 389 ACN 127 556 389. ‘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 Limited 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 ACN 127 556 389 and its Australian subsidiaries and related entities. Liability limited by a scheme approved under Professional Standards Legislation. 74w 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 $1,989,393 during the year ended 30 June 2022, and its cash outflows from operating activities including payments for exploration were $2,847,586. 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. In addition to the matter described in the Material uncertainty related to going concern section, we have determined the matters described below to be the key audit matters to be communicated in our report. Key audit matter How our audit addressed the key audit matter Exploration and evaluation assets - Notes 3.7 & 14 At 30 June 2022, the carrying value of exploration and evaluation assets was $33,919,537. In accordance with AASB 6 Exploration for and Evaluation of Mineral Resources, the Group is required to assess at each reporting date if there are any triggers for impairment that may suggest the carrying value is in excess of the recoverable value. Several assumptions are made when assessing the recoverability of capitalised costs, which are often hinged upon the future success of projects. The process undertaken by management to assess whether there are any impairment triggers in each area of interest involves an element of management judgement. This area is a key audit matter due to the significant judgement involved in determining the existence of impairment triggers. Our procedures included, amongst others: • • reviewing management’s area of interest considerations against AASB 6; testing a sample of expenditure capitalised by tracing to underlying support to understand the nature of the item and whether the expenditure was attributable to an area of interest, and therefore whether capitalisation was in accordance with the recognition criteria of AASB 6; • conducting a detailed review of management’s assessment of impairment 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; − enquiring of management regarding their intentions to carry out exploration and evaluation activity in the relevant exploration area, including review of management’s 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; and • evaluating the competence, capabilities and objectivity of management's experts in the evaluation of potential impairment triggers; and • assessing the appropriateness of the related financial statement disclosures. Grant Thornton Australia Limited 75 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 2022, 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 Company 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 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_2020.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 29 to 32 of the Directors’ report for the year ended 30 June 2022. In our opinion, the Remuneration Report of Dome Gold Mines Limited, for the year ended 30 June 2022 complies with section 300A of the Corporations Act 2001. Grant Thornton Australia Limited 76 Responsibilities The Directors of the Company 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 C F Farley Partner – Audit & Assurance Sydney, 29 September 2022 Grant Thornton Australia Limited 77 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 2022. 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 45,000,000 30,000,000 22,342,625 THE NUMBER OF HOLDERS IN EACH CLASS OF SECURITIES The total distribution of fully paid shareholders and Optionholders as at 31 August 2022 was as follows: Type of security Ordinary shares Unlisted options Number of holders Number of securities 505 26 350,104,136 117,169,926 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 AND OPTIONHOLDERS The total distribution of fully paid shareholders and unlisted optionholders was as follows: Range Total Shareholders Total Optionholders 1 - 1,000 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001 and over Total 15 17 162 159 152 505 - - - - 26 26 78 Dome Gold Mines Ltd and its controlled entities ASX Additional Information LESS THAN MARKETABLE PARCELS On 31 August 2022, there were 17 holders of less than a marketable parcel of 1,924 ordinary shares. TWENTY LARGEST SHAREHOLDERS As at 31 August 2022, the twenty largest quoted shareholders held 66.57% of the fully paid ordinary shares as follows: Name Blue Ridge Interactive Limited Onizaki Corporation Fleet Market Investments Pty Ltd Citicorp Nominees Pty Limited Shukikaku Brave Top Enterprises Ltd Globe Street Investments Pty Ltd 10,000,000 Globe Street Investments Pty Ltd 10,000,000 Mr Hwaeun Park Cybersys Inc Mr Yosuke Hitotsuyama Mr Ryoji Hitotsuyama Bowwow KK Tiger Ten Investment Limited Monex Boom Securities (HK) Ltd BNP Paribas Nominees Pty Ltd Primavera Thamadia Nominees Pty Ltd Mr Yoshimi Yamamoto Mr Katsuji Kato 8,743,512 8,000,000 7,688,368 7,407,782 7,000,000 6,151,893 6,066,256 5,414,811 5,000,000 5,000,000 4,500,000 4,488,720 Ordinary Shares Quantity % 45,000,000 12.85 30,000,000 22,342,625 16,249,098 13,500,000 10,500,000 8.57 6.38 4.64 3.86 3.00 2.86 2.86 2.50 2.29 2.20 2.12 2.00 1.76 1.73 1.55 1.43 1.43 1.29 1.28 TWENTY LARGEST OPTIONOLDERS As at 31 August 2022, there was one optionholder that held 20% or more of the unquoted options. Name Precious Tori Limited Unlisted Options Quantity % 38,076,900 32.50 79 Dome Gold Mines Ltd and its controlled entities ASX Additional Information ON MARKET BUY BACK There is no on market buy-back. ESCROWED SECURITIES As at 31 August 2022, there were no escrowed securities. TENEMENTS SCHEDULE Tenement Location Holder SPL 1451 Ono Island Dome Mines Pte Ltd Area (Ha) 3,028 Expiry Date 24/06/2023 SPL 1452 Nadrau Dome Mines Pte Ltd 33,213 26/08/2022* SPL 1495 Sigatoka Magma Mines Pte Ltd 2,522 26/04/2025 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. While the renewal application is being processed the licence remains in force. Note: Magma Mines Pte Ltd and Dome Mines Pte Ltd, both incorporated in Fiji, are wholly owned subsidiaries of Dome Gold Mines Ltd. All the tenements are located in the Republic of Fiji. 80 Dome Gold Mines Ltd and its controlled entities Corporate Directory ABN 49 151 996 566 Directors Mr John V McCarthy (Chairman) Mr Tadao Tsubata (Non-Executive Director) Ms Sarah Harvey (Non-Executive Director) Company Secretary Mr Marcelo Mora Corporate Office Level 46, 680 George Street Sydney NSW 2000 Australia Registered Office Level 46, 680 George 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 Bradfield & Scott Lawyers Level 1, 20 Hunter Street Sydney NSW 2000 81 

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