DREADNOUGHT RESOURCES LTD — Interim / Quarterly Report 2017

Mar 7, 2017

Tychean Resources Limited

Interim Financial Report

For The Half Year Ended 31 December 2016

To be read in conjunction with the 30 June 2016 Annual Report

Tychean Resources Limited

Contents

DIRECTORS' REPORT ......................................................................................................................................................3 AUDITOR'S INDEPENDENCE DECLARATION ....................................................................................................................5 STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME .....................................................................6 STATEMENT OF FINANCIAL POSITION ............................................................................................................................7 STATEMENT OF CHANGES IN EQUITY .............................................................................................................................8 STATEMENT OF CASH FLOWS ........................................................................................................................................9 NOTES TO THE FINANCIAL STATEMENTS ...................................................................................................................... 10 DIRECTORS' DECLARATION .......................................................................................................................................... 16 INDEPENDENT AUDITOR’S REVIEW REPORT ................................................................................................................ 17

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Tychean Resources Limited

Directors' Report For the Half Year Ended 31 December 2016

Your directors present their report on the consolidated entity consisting of Tychean Resources Limited and the entities it controlled at the end of, or during, the half-year ended 31 December 2016.

Directors

The following persons were directors of Tychean Resources Limited at any time during the half year and up to the date of this report:

Robert Michael Kennedy (Non-Executive Chairman) Ewan Vickery (Non-Executive Director) Kevin John Anson Wills (Non-Executive Director)

The directors have been in office since the start of the financial year to the date of this report unless otherwise stated.

Review of operations and financial results

Spargoville Gold Project

• Maximus Resources (ASX:MXR) moved to 100% ownership of the Spargoville operations after issuing Tychean remaining $50,000 worth of MXR shares, as per the second Sale and Purchase Agreement

• Completion of this final stage moves MXR’s ownership to 100% with no residual payments or royalties owed to Tychean

Tanami Joint Venture

• On the 19[th] December, project partner Ramelius Resources (ASX: RMS) announced completion of their maiden Aircore drilling program, totalling 5,780m at the Highland Rocks tenements

• Encouraging low order gold anomalism was returned (significant given the broad 800m x 100m spacing between drill holes) with a best anomalous gold response to date of 3m (composite sampling) at 307ppbAu from the Haggis prospect

• Results awaited from Ramelius’ drill testing to the East of this anomaly

• It is anticipated the balance of the Tanami ELA’s will be granted ahead of the start of the 2017 field season in April

Corporate

• On 16th December 2016, Tychean completed a Share Purchase Plan to sophisticated and professional investors totaling $352,500 for working capital and due diligence on new opportunities.

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Tychean Resources Limited

Directors' Report For the Half Year Ended 31 December 2016

Subsequent Events

Except for the below, no other matters or circumstances have arisen since the end of the financial year which significantly affected or could significantly affect the operations of the Group, the results of those operations or the state of affairs of the Group in future financial years.

On the 25 January 2017, the Company signed a binding Heads of Agreement to acquire 74% of Blom Cutting Works and Ernest Blom Diamonds CC (together ‘Blom Diamonds’) under the following terms and conditions:

1. 68,450,000 Tychean shares to be issued to Blom Diamonds following transaction completion

2. Performance shares in the capital of Tychean convert upon the satisfaction of the specific milestones 3. Conversion of performance shares will be subject to a minimum threshold conversion of 50% meaning that performance shares will be issued on a pro-rata basis according to actual EBITDA as a % of each EBITDA milestone should actual EBITDA be at least 50% of the milestone. For example, if actual EBITDA for the financial year ending 30 June 2018 is 80% of the milestone, 80% of the performance shares will be converted into ordinary shares

3. Any shortfall in the conversion of performance shares can be carried forward to the next financial year and converted into ordinary shares on a pro-rata basis should the actual EBITDA for that financial year exceed the milestone EBITDA

4. The transaction is subject to conditions such as both parties having the right to complete due diligence within 60 days, Tychean shareholder approval and satisfaction of all legal and regulatory requirements.

Auditor's independence declaration

The auditor's independence declaration in accordance with section 307C of the Corporations Act 2001 for the half year ended 31 December 2016 has been received and can be found on page 5 of the financial report.

This report is signed in accordance with a resolution of the Board of Directors.

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Robert Michael Kennedy

Non-Executive Chairman

Dated this 7[th] Day of March 2017

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Grant Thornton House Level 3 170 Frome Street Adelaide, SA 5000 Correspondence to: GPO Box 1270 Adelaide SA 5001

T 61 8 8372 6666 F 61 8 8372 6677 E info.sa@au.gt.com W www.grantthornton.com.au

AUDITOR’S INDEPENDENCE DECLARATION TO THE DIRECTORS OF TYCHEAN RESOURCES LIMITED

In accordance with the requirements of section 307C of the Corporations Act 2001, as lead auditor for the review of Tychean Resources Limited for the half-year ended 31 December 2016, 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 review; and

• b No contraventions of any applicable code of professional conduct in relation to the review.

GRANT THORNTON AUDIT PTY LTD Chartered Accountants

J L Humphrey Partner – Audit & Assurance

Adelaide, 7 March 2017

Grant Thornton Audit Pty Ltd ACN 130 913 594 a subsidiary or related entity of Grant Thornton Australia Ltd ABN 41 127 556 389

‘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 Ltd is a member firm of Grant Thornton International Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. GTIL and each member firm is a separate legal entity. Services are delivered by the member firms. GTIL does not provide services to clients. GTIL and its member firms are not agents of, and do not obligate one another and are not liable for one another’s acts or omissions. In the Australian context only, the use of the term ‘Grant Thornton’ may refer to Grant Thornton Australia Limited ABN 41 127 556 389 and its Australian subsidiaries and related entities. GTIL is not an Australian related entity to Grant Thornton Australia Limited.

Liability limited by a scheme approved under Professional Standards Legislation.

Tychean Resources Limited

Statement of Profit or Loss and Other Comprehensive Income For The Half Year Ended 31 December 2016

Other income Administration expenses Impairment of exploration expenditure Loss before income tax Income tax expense Loss from continuing operations Loss for the half year Other comprehensive income, net of income tax Items that will not be reclassified subsequently to profit or loss Items that will be reclassified to profit or loss Total comprehensive loss for the year Loss attributable to: Members of the parent entity Total comprehensive loss attributable to: Members of the parent entity Earnings per share From continuing and discontinued operations: Basic earnings per share (cents) Diluted earnings per share (cents)	Consolidated Dec-16 Dec-15 $ $ 1,640 13,840 (235,129) (198,896) (2,025) (2,974,323)
	(235,514) (3,159,379) (6,740) 47,294
	(242,254) (3,112,085)
	(242,254) (3,112,085)
	- - - - 25,000 - (217,254) (3,112,085)
	(217,254) (3,112,085)
	(217,254) (3,112,085)
	Cents Cents (0.06) (1.25) (0.06) (1.25)

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Tychean Resources Limited

Statement of Financial Position As At 31 December 2016

Note ASSETS CURRENT ASSETS Cash and cash equivalents Trade and other receivables Investments 3 Other assets TOTAL CURRENT ASSETS NON-CURRENT ASSETS Property, plant and equipment Exploration, evaluation and development assets 6 TOTAL NON-CURRENT ASSETS TOTAL ASSETS LIABILITIES CURRENT LIABILITIES Trade and other payables TOTAL CURRENT LIABILITIES NON-CURRENT LIABILITIES TOTAL LIABILITIES NET ASSETS EQUITY Issued capital 2 Reserves Accumulated Losses TOTAL EQUITY	Consolidated Dec-16 Jun-16 $ $ 396,893 288,331 3,390 53,040 75,000 - 10,246 4,601
	485,529 345,972
	5,128 6,303 252,521 252,521
	257,649 258,824
	743,178 604,796
	160,885 142,023
	160,885 142,023
	- -
	160,885 142,023
	582,293 462,773
	37,661,627 37,324,853 25,000 - (37,104,334) (36,862,080)
	582,293 462,773

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Tychean Resources Limited

Statement of Changes in Equity For the Half Year Ended 31 December 2016

Dec-16		Issued Capital	Accumulated Losses	Reserves	Total
	Note	$	$	$	$
Balance at 1 July 2016		37,324,853	(36,862,080)	-	462,773
Comprehensive loss
Loss for period		-	(242,254)	-	(242,254)
Other comprehensive income		-	-	25,000	25,000
Total comprehensive loss for the period		-	(242,254)	25,000	(217,254)
Transactions with owners, in their capacity as
owners, and other transfers
Transaction costs		(22,466)	-	-	(22,466)
Tax effect on transactions costs		6,740	-	-	6,740
Shares issued during the year		352,500	-	-	352,500
Total transactions with owners and other transfers		336,774	-	-	336,774
Balance at 31 December 2016		37,661,627	(37,104,334)	25,000	582,293
Dec-15		Issued Capital	Accumulated Losses	Reserves	Total
	Note	$	$	$	$
Balance at 1 July 2015		37,042,054	(34,268,395)	1,083,478	3,857,137
Comprehensive loss
Loss for period		-	(3,112,085)	-	(3,112,085)
Total comprehensive loss for the period		-	(3,112,085)	-	(3,112,085)
Transactions with owners, in their capacity as
owners, and other transfers
Transaction costs		(3,947)	-	-	(3,947)
Tax effect on transactions costs		1,184	-	-	1,184
Shares issued during the year		285,362	-	-	285,362
Total transactions with owners and other transfers		282,599	-	-	282,599
Balance at 31 December 2015		37,324,653	(37,380,480)	1,083,478	1,027,651

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Tychean Resources Limited

Statement of Cash Flows For the Half Year Ended 31 December 2016

CASH FLOWS FROM OPERATING ACTIVITIES: Receipts from customers Payments to suppliers and employees Research and development tax received Interest received Net cash used in operating activities CASH FLOWS FROM INVESTING ACTIVITIES: Receipt from sale of interest in exploration assets Purchase of property, plant and equipment Payments for exploration assets Net cash provided/(used in) by investing activities CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from issue of shares Payments for capital raising costs Net cash provided by financing activities Net increase in cash and cash equivalents held Cash and cash equivalents at beginning of half year Cash and cash equivalents at end of the half year	Consolidated Dec-16 Dec-15 $ $ - 12,810 (222,344) (483,197) - 48,478
	1,640 530
	(220,704) (421,379)
	- 200,000 - 500 (2,399) (97,065)
	(2,399) 103,435
	352,500 286,546 (20,835) (3,947)
	331,665 282,599
	108,562 (35,345) 288,331 102,522
	396,893 67,177

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Tychean Resources Limited

Notes to the Financial Statements For the Half Year Ended 31 December 2016

1 Basis of Preparation

This condensed consolidated interim financial report for the reporting period ending 31 December 2016 has been prepared in accordance with the requirements of the Corporations Act 2001 and Australian Accounting Standard AASB 134: Interim Financial Reporting .

The interim financial report is intended to provide users with an update on the latest annual financial statements of Tychean Resources Limited and controlled entities (the Group). As such it does not contain information that represents relatively insignificant changes occurring during the half year within the Group. This condensed consolidated financial report does not include all the notes normally included in an annual financial report. It is therefore recommended that this financial report be read in conjunction with the annual financial statements of the Group for the year ended 30 June 2016, together with any public announcements made during the half year.

The same accounting policies and methods of computation have been followed in this interim financial report as were applied in the most recent annual financial statements.

a) Key estimates

The preparation of the consolidated financial statements requires management to make estimates and judgments. These estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that may have a financial impact on the Group and that are believed to be reasonable under the circumstances.

The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below:

(i) Estimated impairment

The Group assesses impairment at each reporting date by evaluating conditions specific to the Group that may lead to impairment of assets. Where an impairment trigger exists, the recoverable amount of the asset is determined. Value-in-use calculations performed in assessing recoverable amounts incorporate a number of key estimates.

(ii) Exploration and evaluation

The Group policy for exploration and evaluation is discussed in note 1 (s) of the June 2016 Annual Report. The application of this policy requires management to make certain assumptions as to future events and circumstances. Any such estimates and assumptions may change as new information becomes available. If, after having capitalised exploration and evaluation expenditure, management concludes that the capitalised expenditure is unlikely to be recovered by future sale or exploration, then the relevant capitalised amount will be written off through the statement of profit or loss. The related carrying amounts are disclosed in note 5.

2 Issued Capital

		Consolidated	Consolidated
		Dec-16	Jun-16
		$	$
	(a) Share capital	37,661,627	37,324,853
(June	2016: 284,413,766) fully paid ordinary shares

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Tychean Resources Limited

Notes to the Financial Statements For the Half Year Ended 31 December 2016

2 Issued Capital - continued

(b) Movements in ordinary share capital

Date Details 01/07/2016 Opening Balance 15/12/2016 Share Purchase Plan Less: transaction costs arising on share issue (net of tax effect) 31/12/2016 Closing Balance	No. Issue Price ($) 284,413,766 - 50,357,155 0.007 334,770,921	$ 37,324,853 352,500 (15,726)
		37,661,627

(c) Performance Rights

Nil

3 Investments

Investments Total	Consolidated Dec-16 Jun-16 $ $ 75,000 -
	75,000 -

The company holds 25,000,000 shares in Maximus Resources Limited (ASX: MXR). The market price as at 31 December 2016 was $0.003 per share.

4 Operating Segments

a) Identification of reportable segments

The Group has identified its operating segments based on the internal reports that are reviewed and used by the Board of Directors (chief operating decision maker) in assessing performance and determining the allocation of resources.

The Group is managed primarily on the basis of geographical area of interest as the diversification of the Group's operations inherently have notably different risk profiles and performance assessment criteria. Operating segments are therefore determined on the same basis.

Reportable segments disclosed are based on aggregating operating segments where the segments are considered to have similar economic characteristics and are also similar with respect to the following:

• geographical and geological styles, and;

• any external regulatory requirements.

Basis of accounting for purposes of reporting by operating segments

Unless stated below, all amounts reported to the Board of Directors, being the chief operating decision maker with respect to operating segments, are determined in accordance with accounting policies that are consistent to those adopted in the annual financial statements of the Group.

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Tychean Resources Limited

Notes to the Financial Statements For the Half Year Ended 31 December 2016

4 Operating Segments continued

b) Segment Assets

Segment assets - Acquisitions of tenements - Tenements disposal - Capital Expenditure - Capital Expenditure Impaired Total Movement	Suplejack Spargoville Valley Floor Total Dec-16 Jun-16 Dec-16 Jun-16 Dec-16 Jun-16 Dec-16 Jun-16 $ $ $ $ $ $ $ $
	252,521 252,521 - - - - 252,521 252,521
	- - - - - - - - - (450,000) - - (450,000) - 1,477 1,809 104,931 216 5,878 2,025 112,286 - - (1,809) (2.988,994) (216) (516,989) (2,025) (3,505,983)
	- 1,477 - (3,334,063) - (511,111) - (3,843,697)

Segment assets Unallocated assets Total assets Segment liabilities Unallocated liabilities Total liabilities	252,521 252,521 490,657 352,275
	743,178 604,796
	- 160,885 142,023
	160,885 142,023

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Tychean Resources Limited

Notes to the Financial Statements For the Half Year Ended 31 December 2016

4 Operating Segments continued

c) Adjusted EBITA

c) Adjusted EBITA	ITA
Spargoville Valley Floor Dec-16 Dec-15 Dec-16 Dec-15 $ $ $ $ Adjusted earnings before interest, tax, depreciation and amortisation - - - - Cost of goods sold - - - - Impairment (1,809) (2,974,323) (216) - Allocated adjusted EBITA Interest revenue Other revenue Administrative expenses General exploration written off Total loss before income tax Income Tax Loss after income tax Other comprehensive income Total comprehensive loss	Spargoville Valley Floor Dec-16 Dec-15 Dec-16 Dec-15 $ $ $ $	Total Dec-16 Dec-15 $ $
		- - - - (2,025) (2,974,323) Half year ended Dec-16 Dec-15 $ $ (2,025) (2,974,323) 1,640 530 - 61,788 (235,129) (198,896) - -
		(235,514) (3,110,901)
		(6,740) (1,184)
		(242,254) (3,112,085)
		25,000 -
		(217,254) (3,112,085)

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Tychean Resources Limited

Notes to the Financial Statements For the Half Year Ended 31 December 2016

5 Subsidiaries

The consolidated financial statements include the financial statements of Tychean Resources Ltd and the following subsidiaries:

	% ownership	% ownership
	interest	interest
Name of subsidiary	Dec-16	Jun-16
Tychean Tanami Pty Ltd (previously ERO Metals Pty Ltd)	100.0	100.0
Valley Floor Resources Pty Ltd	100.0	100.0
6 Exploration & Evaluation Expenditure

Exploration and evaluation expenditure Exploration assets at cost Reconciliation Balance at beginning of financial year Acquisition costs Tenements disposal Expenditure incurred Exploration expenditure impairment Total exploration and evaluation expenditure	Consolidated Dec-16 Jun-16 $ $ 252,521 252,521 252,521 4,096,218 - (450,000) 2,025 112,286 (2,025) (3,505,983)
	252,521 252,521

7 Events Occurring After the Reporting Date

Except for the below, no other matters or circumstances have arisen since the end of the financial year which significantly affected or could significantly affect the operations of the Group, the results of those operations or the state of affairs of the Group in future financial years.

On the 25 January 2017, the Company signed a binding Heads of Agreement to acquire 74% of Blom Cutting Works and Ernest Blom Diamonds CC (together ‘Blom Diamonds’) under the following terms and conditions:

• a. 68,450,000 Tychean shares to be issued to Blom Diamonds following transaction completion

• b. Performance shares in the capital of Tychean convert upon the satisfaction of the specific milestones

• c. Conversion of performance shares will be subject to a minimum threshold conversion of 50% meaning that performance shares will be issued on a pro-rata basis according to actual EBITDA as a % of each EBITDA milestone should actual EBITDA be at least 50% of the milestone. For example, if actual EBITDA for the financial year ending 30 June 2018 is 80% of the milestone, 80% of the performance shares will be converted into ordinary shares

• d. Any shortfall in the conversion of performance shares can be carried forward to the next financial year and converted into ordinary shares on a pro-rata basis should the actual EBITDA for that financial year exceed the milestone EBITDA

• e. The transaction is subject to conditions such as both parties having the right to complete due diligence within 60 days, Tychean shareholder approval and satisfaction of all legal and regulatory requirements.

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Tychean Resources Limited

Notes to the Financial Statements For the Half Year Ended 31 December 2016

8 Going Concern

The financial report has been prepared on the basis of going concern.

The cash flow projections of the Group indicate that it will require positive cash flows from additional capital for continued operations. The Group incurred a loss of $217,254 for the half year and a net cash outflow from operating and investing activities of $223,103.

The Group is currently meeting minimum cash commitments and the Group is actively seeking new opportunities.

The Group's ability to continue as a going concern is contingent on obtaining additional capital. If additional capital is not obtained, the going concern basis may not be appropriate, with the result that the consolidated entity may have to realise its assets and extinguish its liabilities, other than in the ordinary course of business and in amounts different from those stated in the financial report. No allowance for such circumstances has been made in the financial report.

9 Company Details

The registered office and principal place of business of the company is:

Tychean Resources Limited Level 3 100 Pirie Street Adelaide SA 5000

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Tychean Resources Limited

Directors' Declaration

The directors of the Company declare that:

1. The financial statements and notes, as set out on pages 6 to 15 are in accordance with the Corporations Act 2001 , including:

2. (a) complying with Accounting Standard AASB 134: Interim Financial Reporting; and

3. (b) give a true and fair view of the consolidated group's financial position as at 31 December 2016 and of its performance for the half-year ended on that date.

4. In the directors' opinion, there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable.

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

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Robert Michael Kennedy Non-executive Chairman

Dated this 7[th] day of March 2017

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Grant Thornton House Level 3 170 Frome Street Adelaide, SA 5000 Correspondence to: GPO Box 1270 Adelaide SA 5001

T 61 8 8372 6666 F 61 8 8372 6677 E info.sa@au.gt.com W www.grantthornton.com.au

INDEPENDENT AUDITOR’S REVIEW REPORT TO THE MEMBERS OF TYCHEAN RESOURCES LIMITED

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

Directors’ responsibility for the half-year financial report

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

Auditor’s responsibility

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

Grant Thornton Audit Pty Ltd ACN 130 913 594 a subsidiary or related entity of Grant Thornton Australia Ltd ABN 41 127 556 389

‘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 Ltd is a member firm of Grant Thornton International Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. GTIL and each member firm is a separate legal entity. Services are delivered by the member firms. GTIL does not provide services to clients. GTIL and its member firms are not agents of, and do not obligate one another and are not liable for one another’s acts or omissions. In the Australian context only, the use of the term ‘Grant Thornton’ may refer to Grant Thornton Australia Limited ABN 41 127 556 389 and its Australian subsidiaries and related entities. GTIL is not an Australian related entity to Grant Thornton Australia Limited.

Liability limited by a scheme approved under Professional Standards Legislation.

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

Independence

In conducting our review, we complied with the independence requirements of the Corporations Act 2001.

Conclusion

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

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

• b complying with Accounting Standard AASB 134 Interim Financial Reporting and Corporations Regulations 2001.

Material uncertainty related to going concern

We draw attention to Note 8 to the financial statements which indicate a net loss of $242,254 and incurred a net cash outflow of $223,103 from operating and investing activities during the half year ended 31 December 2016. These conditions, along with other matters identified in Note 8, indicate the existence of a material uncertainty which may cast significant doubt about the consolidated entity’s ability to continue as a going concern and therefore, the consolidated entity may be unable to realise its assets and discharge its liabilities in the normal course of business, and at the amounts stated in the financial report. Our opinion is not modified in relation to this matter.

GRANT THORNTON AUDIT PTY LTD Chartered Accountants

J L Humphrey Partner – Audit & Assurance

Adelaide, 7 March 2017