ENERGY METALS LTD — Interim / Quarterly Report 2017

Sep 11, 2017

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ABN 63 111 306 533

HALF YEAR FINANCIAL REPORT

FOR THE HALF YEAR ENDED 30 JUNE 2017

CORPORATE DIRECTORY

DIRECTORS

Yusheng Cai (Non-executive Chairman) Weidong Xiang (Managing Director) Lindsay Dudfield (Non-executive Director) Jan Macpherson (Non-executive Director) Yu Zhong (Non-executive Director) Zimin Zhang (Non-Executive Director) Junmei Xu (Non-Executive Director)

REGISTERED OFFICE

Level 2, 28 Kings Park Road WEST PERTH WA 6005

POSTAL ADDRESS

PO Box 1323 WEST PERTH WA 6872

AUDITORS

Deloitte Touche Tohmatsu Brookfield Place Tower 2 123 St Georges Terrace PERTH WA 6000

SHARE REGISTRY

Security Transfer Registrars Pty Ltd 770 Canning Highway APPLECROSS WA 6153 Telephone: + 61 8 9315 2333 Facsimile: + 61 8 9315 2233

CONTACT DETAILS

Website: www.energymetals.net Email: enquiry@energymetals.net Telephone: + 61 8 9322 6904 Facsimile: + 61 8 9321 7950

COMPANY SECRETARY

Xuekun Li

STOCK EXCHANGE LISTING

Australian Securities Exchange ASX Code: EME

SOLICITORS

Minter Ellison Allendale Square 77 St George’s Terrace PERTH WA 6000

BANKERS

National Australia Bank 100 St Georges Terrace PERTH WA 6000

DIRECTORS’ REPORT

Your Directors present the financial statements of Energy Metals Limited (“the company”) and its controlled entity ("the group") for the half-year ended 30 June 2017.

DIRECTORS

The names of the Directors in office during the half-year and at the date of this report are as follows. Directors were in office for this entire period unless otherwise stated:

Yusheng Cai (Non-executive Chairman) Weidong Xiang (Managing Director) Lindsay George Dudfield (Non-executive Director) Jan Macpherson (Non-executive Director, appointed 1 March 2017) Yu Zhong (Non-executive Director) Zimin Zhang (Non-executive Director) Junmei Xu (Non-executive Director)

Geoffrey Michael Jones (Non-executive Director, resigned 15 February 2017)

REVIEW OF OPERATIONS

The group reported a net loss of $581,893 for the half-year ended 30 June 2017 (2016: a consolidated net loss of $179,026).

Energy Metals is a dedicated uranium exploration company with eight projects located in the Northern Territory (NT) and Western Australia covering over 3,400 km². Most of the projects contain uranium mineralisation discovered by major companies in the 1970’s, including the advanced Bigrlyi Project, located in the prospective Ngalia Basin (NT). Bigrlyi is characterised by relatively high uranium grades (with vanadium credits) and excellent metallurgical recoveries.

Exploration activities performed during the period were to a sufficient level to maintain the company’s tenements in good standing.

Bigrlyi Joint Venture (EME 53.3%)

The Bigrlyi exploration camp remained on a care and maintenance footing in 2017 with minor exploration works conducted in the half-year.

Ngalia Regional Project (EME 100%)

During the half-year planning was completed for electrical and electromagnetic geophysical surveys aimed at targeting buried uranium mineralisation in a number of prospective areas. The company entered into a contract in conjunction with Geoscience Australia, the Federal Government’s geological survey, to acquire aerial electromagnetic data over the eastern Ngalia Basin. The targets include extensions to the Malawiri and Cappers deposits as well as new prospective areas. The survey will be flown in the second half of 2017 with final results available in early 2018.

Malawiri Joint Venture (EME 52.1%)

Following last year’s drilling program at the Malawiri deposit, which resulted in discovery of a new high-grade uranium zone, the company has undertaken preparations for an initial JORC (2012) Mineral Resource Estimate for the Malawiri deposit. The estimation work will commence in the second half of 2017.

Walbiri Joint Venture (EME 41.9%)

The Walbiri deposit remained on a care and maintenance footing for the current half year.

Western Australia

The company’s strategy is to maintain tenure over its Western Australian uranium deposits with minimum expenditure until economic and political conditions improve. Four projects are covered by granted Retention Licences and in 2017 the company applied to convert its Exploration Licence over the Manyingee East deposit to a Retention Licence.

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DIRECTORS’ REPORT

AUDITOR’S INDEPENDENCE DECLARATION

A copy of the auditors’ independence declaration as required under section 307C of the Corporations Act 2001 is set out on the page 15 of this half year financial report.

This report is made in accordance with a resolution of the Board of Directors and is signed for and on behalf of the Directors by:

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Weidong Xiang Managing Director

PERTH

11 September 2017

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DIRECTORS’ DECLARATION

In the Directors’ opinion:

The financial statements, and notes set out on pages 4 to 14 are in accordance with the Corporations Act 2001 , including:

• i) 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; and

• ii) in the directors’ opinion, the attached financial statements and notes thereto are in accordance with the Corporations Act 2001 , including compliance with accounting standards and giving a true and fair view of the financial position and performance of the consolidated entity.

Signed in accordance with a resolution of the directors made pursuant to s.303 (5) of the Corporations Act 2001.

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WEIDONG XIANG Managing Director

11 September 2017

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CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE HALF-YEAR ENDED 30 JUNE 2017

Notes 4 4 4 4 4 Revenue from continuing operations Employee benefits expense Exploration expense Corporate and regulatory expense Depreciation expense Administration expense Loss before income tax Income tax expense Loss for the period Total comprehensive expense for the period Loss attributable to owners of the company Total comprehensive expense attributable to owners of the company Basic loss per share (cents) Diluted loss per share (cents)	30/06/2017 $ 293,243 (269,225) (402,644) (65,673) (26,370) (111,224) (581,893) - (581,893) (581,893) (581,893) (581,893) (0.28) (0.28)	30/06/2016 $
		340,903 (200,721) (67,915) (71,097) (29,531) (150,666)
		(179,027) -
		(179,027) (179,027)
		(179,027)
		(179,027)
		(0.09)
		(0.09)

The above Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income should be read in conjunction with the accompanying notes.

.

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CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2017

Notes Current assets Cash and cash equivalents Term deposits 6 Trade and other receivables Total current Assets Non-current Assets Plant and equipment 7 8 9 Exploration and evaluation expenditure Total non-current Assets Total assets Current liabilities Trade and other payables Provisions Total current liabilities Total liabilities Net assets Contributed equity Accumulated losses Capital and reserves attributable to owners of the company Total equity	30/06/2017 $ 232,849 19,706,654 368,170 20,307,673 226,570 33,244,054 33,470,624 53,778,297 122,553 47,596 170,149 170,149 53,608,148 59,051,644 (5,443,496) 53,608,148 53,608,148	31/12/2016 $
		178,383 20,365,055 130,110
		20,673,548 263,993 33,401,714
		33,665,707 54,339,255
		101,688 47,526
		149,214 149,214
		54,190,041
		59,051,644 (4,861,603)
		54,190,041
		54,190,041

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

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CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE HALF YEAR ENDED 30 JUNE 2017

At 1 January 2016 Loss for the period Total comprehensive expense for the period At 30 June 2016 At 1 January 2017 Loss for the period Total comprehensive expense for the period At 30 June 2017	Attributable to Owners ofthe Group
	Contributed Equity $ Accumulated Losses $ Total Equity $
	59,051,644 (4,475,497) 54,576,147 - (179,027) (179,027)
	- (179,027) (179,027)
	59,051,644 (4,654,524) 54,397,120
	59,051,644 (4,861,603) 54,190,041 - (581,893) (581,893)
	- (581,893) (581,893)
	59,051,644 (5,443,496) 53,608,148

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

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CONDENSED CONSOLIDATED STATEMENT OF CASHFLOWS FOR THE HALF YEAR ENDED 30 JUNE 2017

Cash flows from operating activities Interest received Payments to suppliers and employees Net cash used in operating activities Cash flows from investing activities Payments for plant and equipment Proceeds from sale of plant and equipment Payments for exploration and expenditure Proceeds from term deposits Investments in term deposits Net cash provided by investing activities Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period	30/06/2017 $ 106,430 (447,734) (341,304) (2,401) 18,364 (278,594) 20,365,055 (19,706,654) 395,770 54,466 178,383 232,849	30/06/2016 $
		351,811 (615,398)
		(263,587)
		(11,181) - (356,630) 21,571,236 (20,930,583)
		272,842
		9,255 190,491
		199,746

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

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NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 30 JUNE 2017

NOTE 1: BASIS OF PREPARATION OF HALF-YEAR REPORT

Statement of compliance

The half-year financial report is a general purpose financial report prepared in accordance with the Corporations Act 2001 and AASB134 ‘ Interim Financial Reporting’ . Compliance with AASB 134 ensures compliance with International Financial Reporting Standards IAS 34 ‘ Interim Financial Reporting’ . The half year report does not include notes of the type normally included in an annual financial report and shall be read in conjunction with the most recent annual financial report.

Basis of preparation

The condensed consolidated financial statements have been prepared on the basis of historical cost, except for the revaluation of certain non-current assets and financial instruments. Cost is based on the fair value of the consideration given in exchange for assets. All amounts are presented in Australian dollars, unless otherwise noted.

The company is a company of the kind referred to in ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument, dated 24 March 2016, and in accordance with that Corporations Instrument amounts in the financial report are rounded off to the nearest thousand dollars, unless otherwise indicated.

The accounting policies and methods of computation adopted in the preparation of the half-year financial report are consistent with those adopted and disclosed in the Group’s 2016 annual financial report for the year ended 31 December 2016,except for the impact of the Standards and Interpretations described below. These accounting policies are consistent with Australian Accounting Standards and with International Financial Reporting Standards.

NOTE 2: NEW ACCOUNTING STANDARDS AND INTERPRETATIONS

The group has adopted all of the new and revised Standards and Interpretations issued by the Australian Accounting Standards Board (the AASB) that are relevant to their operations and effective for the current half - year.

AASB 2016-1 Amendments to Australian Accounting Standards-Recognition of Deferred Tax Assets for Unrealised losses

The group has applied these amendments for the first time in the current year. The amendments to AASB 112 Income taxes to clarify:

• unrealised losses on debt instruments measured at fair value and measured at cost for tax purposes give rise to a deductible temporary difference regardless of whether the debt instrument’s holder expects to recover the carrying amount of the debt instrument by sale or by use.

• The carrying amount of an asset does not limit the estimation of probably future taxable profits.

• Estimate for future taxable profits exclude tax deductions resulting from the reversal of deductible temporary differences.

• An entity assesses a deferred tax asset in combination with other deferred tax assets. Where tax law restricts the utilization of tax losses, an entity would assess a deferred tax asset in combination with other deferred tax assets of the same type.

The application of these amendments has had no impact on the group’s consolidated financial statements.

AASB 2016-2 Amendments to Australian Accounting Standards- Disclosure Initiative: Amendments to AASB 107

The group has applied these amendments for the first time in the current year. The amendments to AASB 107 Statement of Cash Flow require entities preparing financial statements in accordance with Tier 1 reporting requirements to provide disclosures that enable users of financial statements to evaluate changes in liabilities arising from financing activities, including both changes arising from cash flows and non-cash changes.

The application of these amendments has had no effect on the group’s consolidated financial statements.

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NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 30 JUNE 2017

NOTE 2: NEW ACCOUNTING STANDARDS AND INTERPRETATIONS (CONTINUED)

AASB 2017-2 Amendments to Australian Accounting Standards- Further Annual Improvements 2014-2016

The group has applied these amendments for the first time in the current year. The amendments to AASB 12 Disclosure of Interests in Other Entities clarify the interaction of AASB 12 with AASB 5 Non- Current Assets Held for Sale and Discontinued Operations to explain that disclosures under AASB 12 are required for interests in entities classified as held for sale or discontinued operations in accordance with AASB 5.

The application of these amendments has had no effect on the group’s consolidated financial statements.

New and revised Accounting Standards in issue not yet adopted

At the date of authorisation of the Financial Statements, the Standards applicable to the group were in issue but not yet effective. The potential effect of the revised Standards on the group’s financial statements not expected to have a material impact on adoption.

AASB 9 ‘Financial Instruments’ and the relevant amending standards , effective for annual reporting periods beginning on or after 1 January 2018, expected to be initially applied in the financial year ending 31 December 2019;

AASB 16 ‘Leases’, effective for annual reporting periods beginning on or after 1 January 2019, expected to be initially applied in the financial year ending 31 December 2020;

AASB 2016-5 ‘Amendments to Australian Accounting Standards – Classification and Measurement of Sharebased Payment Transactions’, effective for annual reporting periods beginning on or after 1 January 2018, expected to be initially applied in the financial year ending 31 December 2019; and

AASB 2017-2 ‘Amendments to Australian Accounting Standards – Further Annual Improvements 2014-2016 Cycle’, effective for annual reporting periods beginning on or after 1 January 2017, expected to be initially applied in the financial year ending 31 December 2018.

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NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 30 JUNE 2017

NOTE 3: SEGMENT INFORMATION

Management has determined that the Group have two reportable segments, being uranium exploration and uranium trading. As the Group are focused on uranium exploration, the Board periodically monitors the Group based on actual versus budgeted exploration expenditure incurred by area of interest. This internal reporting framework is most relevant to assist the Board with making decisions regarding the ongoing exploration programmes and activities, while also taking into consideration the results of exploration work that has been performed to date. There has been no uranium trading in the current and prior period. The segment information provided to the board for the reportable segments for the half-year ended 30 June 2016 and 30 June 2017 is as follows:

30 June 2017 Total segment revenue Segment result Depreciation Total segment assets Total segment assets include: Additions to non-current assets Total segment liabilities 30 June 2016 Total segment revenue Segment result Depreciation Total segment assets Total segment assets include: Additions to non-current assets Total segment liabilities	Uranium Exploration Unallocated Total
	5,164 288,079 293,243
	(416,789) (165,104) (581,893)
	(19,309) (7,061) (26,370)
	33,459,499 20,318,798 53,778,297
	330 2,071 2,401
	39,531 130,618 170,149
	22,566 318,337 340,903
	(67,915) (111,112) (179,027)
	(21,169) (8,362) (29,531)
	33,194,709 21,560,482 54,755,191
	2,597 8,584 11,181
	28,045 330,026 358,071

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NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 30 JUNE 2017

NOTE 4: REVENUES AND EXPENSES

(a) Revenue from continuing operations includes the following revenue items: Interest received from other parties Joint Venture management fee received Other income received (b) Loss includes the following specific expenses: Depreciation (c) Employee benefit expense: Annual leave expense Wages & superannuation Directors’fee Others (d) Administration expense Rental Professional services Others	30 June 2017 $ 30 June 2016 $
	269,715 318,337 4,623 22,566 18,905 -
	293,243 340,903
	26,370 29,531
	70 (22,118) 236,316 191,437 15,354 23,373 17,485 8,029
	269,225 200,721
	51,573 79,193 - 1,207 59,651 70,266
	111,224 150,666

(e) Exploration expense

The expense includes written off exploration and evaluation expenditure of $354,037 since the group had surrendered certain tenements during the period.

NOTE 5: DIVIDENDS

There were no dividends paid or declared by the company during the period.

NOTE 6: TERM DEPOSITS

As at 30 June 2017, the Group had approximately $19.7 million deposits with maturities from 3 months to 12 months with various financial institutions earning interest at an average rate of 2.7% (2016: 3.1%).

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NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 30 JUNE 2017

NOTE 7: PLANT AND EQUIPMENT

Plant and equipment - at cost Less accumulated depreciation Motor vehicle–at cost Less accumulated depreciation Leasehold improvement–at cost Less accumulated depreciation Total Reconciliation of the carrying amount of Plant and Equipment: Carrying amount at 1 January 2016 Additions Depreciation expense Carrying amount at 30 June 2016 Carrying amount at 1 January 2017 Additions Disposals Depreciation expense Carrying amount at 30 June 2017	30 June 2017 $ 31 December 2016 $ 885,826 883,425 (692,931) (671,632) 192,895 211,793 136,335 200,806 (103,714) (150,684) 32,621 50,122 5,880 5880 (4,826) (3,802) 1,054 2,078 226,570 263,993 Plant and Equipment $ Motor Vehicle $ Leasehold Improvement $
	255,198 64,343 - 5,302 - 5,880 (22,478) (7,052) -
	238,022 57,291 5,880
	211,793 50,122 2,078 2,401 - - - (13,454) - (21,299) (4,047) (1,024)
	192,895 32,621 1,054

NOTE 8: EXPLORATION AND EVALUATION EXPENDITURE

Balance at the beginning of the half-year Additions of exploration assets Written-off of exploration assets Balance at the end of the half-year	30 June 2017 $ 31 December 2016 $
	33,401,714 32,656,336 196,377 745,378 (354,037) -
	33,244,054 33,401,714

The balance carried forward represents projects in the exploration and evaluation phase.

Ultimate recoupment of exploration expenditure carried forward is dependent on successful development and commercial exploitation, or alternatively, sale of respective areas.

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NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 30 JUNE 2017

NOTE 9: CONTRIBUTED EQUITY

As at 1 January 2017 and 30 June 2017	Number of Shares $
	209,683,312 59,051,644

Ordinary Shares

Ordinary shares entitled the holder to participate in dividends and the proceeds on winding up of the company in proportion to the number of and amounts paid on the shares held.

On a show of hands every holder of ordinary shares present at a meeting in person or by proxy, is entitled to one vote, and upon a poll each share is entitled to one vote.

Ordinary shares have no par value and the company does not have a limited amount of authorised capital.

NOTE 10: CONTINGENCIES

Claims of Native Title

To date the company has been notified by the Native Title Tribunal of native title claims which cover some of the company’s licence holdings. Until further information arises in relation to the claims and its likelihood of success, the company is unable to assess the likely effect, if any, of the claims.

NOTE 11: COMMITMENTS

Tenement Expenditure Commitments: The Group is required to maintain current rights of tenure to tenements, which require outlays of expenditure in 2017/2018. Under certain circumstances these commitments are subject to the possibility of adjustment to the amount and/or timing of such obligations, however, they are expected to be fulfilled in the normal course of operations. Estimated expenditure on mining, exploration and prospecting leases for 2017/2018

30 June 2017 $ 31 December 2016 $

601,303 604,290

Including the Bigrlyi Joint Venture tenements expenditure commitments which are calculated based on the holding interest ratio.

Capital Commitments

There are no capital expenditure commitments for the Group as at 30 June 2017.

Lease Commitments: group as lessee

The company leases its office under non-cancellable operating leases expiring within one year.

Commitments for minimum lease payments in relation to non-cancellable operating leases are payable as follows: Within one year Later than one year but not later than five years	51,845 60,400 - 20,133
	51,845 80,533

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NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 30 JUNE 2017

NOTE 12: KEY MANAGEMENT PERSONNEL

Remuneration arrangements of key management personnel are disclosed in the annual financial report.

NOTE 13: SUBSEQUENT EVENTS

There were no matters or circumstances arising since the end of the reporting period that have significantly affected, or may significantly affect the operations of the company and its controlled entity and the results of those operations or the state of the affairs of the company and its controlled entity in the financial period subsequent to 30 June 2017.

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Deloitte Touche Tohmatsu ABN 74 490 121 060 Brookfield Place, Tower 2 123 St Georges Terrace Perth, WA, 6000 Australia

Phone: +61 8 9365 7000 www.deloitte.com.au

The Board of Directors Energy Metals Limited Level 2, 28 Kings Park Road West Perth WA 6005

11 September 2017

Dear Directors

Energy Metals Limited

In accordance with section 307C of the Corporations Act 2001, I am pleased to provide the following declaration of independence to the directors of Energy Metals Ltd.

As lead audit partner for the review of the financial statements of Energy Metals Limited for the half-year ended 30 June 2017, I declare that to the best of my knowledge and belief, there have been no contraventions of:

• (i) the auditor independence requirements of the Corporations Act 2001 in relation to the review; and

• (ii) any applicable code of professional conduct in relation to the review.

Yours faithfully

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DELOITTE TOUCHE TOHMATSU

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D K Andrews

Partner Chartered Accountants

Liability limited by a scheme approved under Professional Standards Legislation. Member of Deloitte Touche Tohmatsu Limited

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Deloitte Touche Tohmatsu ABN 74 490 121 060 Brookfield Place, Tower 2 123 St Georges Terrace Perth, WA, 6000 Australia

Phone: +61 8 9365 7000 www.deloitte.com.au

Independent Auditor’s Review Report to the members of Energy Metals Limited

We have reviewed the accompanying half-year financial report of Energy Metals Limited, which comprises the condensed consolidated statement of financial position as at 30 June 2017, the condensed consolidated statement of profit and loss and other comprehensive income, the condensed consolidated statement of cash flows and the condensed consolidated statement of changes in equity for the half-year ended on that date, notes comprising a summary of significant accounting policies and other explanatory information, and the directors declaration of the consolidated entity comprising the company and the entities it controlled at the end of the half-year or from time to time during the half-year as set out on pages 3 to 14.

Directors’ Responsibility for the Half-Year Financial Report

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

Auditor’s Responsibility

Our responsibility is to express a conclusion on the half-year financial report based on our review. We conducted our review in accordance with Auditing Standard on Review Engagements ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity , in order to state whether, on the basis of the procedures described, we have become aware of any matter that makes us believe that the half-year financial report is not in accordance with the Corporations Act 2001 including: giving a true and fair view of the consolidated entity’s financial position as at 30 June 2017 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 Energy Metals Limited, ASRE 2410 requires that we comply with the ethical requirements relevant to the audit of the annual financial report.

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

Auditor’s Independence Declaration

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

Liability limited by a scheme approved under Professional Standards Legislation.

Member of Deloitte Touche Tohmatsu Limited

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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 Energy Metals 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 30 June 2017 and of its performance for the half-year ended on that date; and

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

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DELOITTE TOUCHE TOHMATSU

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D K Andrews

Partner Chartered Accountants Perth, 11 September 2017

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