MOHO RESOURCES LIMITED

==> picture [223 x 96] intentionally omitted <==

MOHO RESOURCES LIMITED ACN 156 217 971

A NNUAL R EPORT FOR THE YEAR ENDED 30 J UNE 2021

Moho Resources Limited Corporate directory

Directors

Mr Terry Streeter Mr Shane Sadleir Mr Ralph Winter Mr Adrian Larking

Non-Executive Chairman Managing Director Commercial Director Non-Executive Director

Company Secretary

Mr Ralph Winter

Registered Office

Office 3, 9 Loftus Street WEST LEEDERVILLE WA 6007 Tel: +61 8 9481 0389

Principal Place of Business

Office 3, 9 Loftus Street WEST LEEDERVILLE WA 6007

Postal Address PO Box 2517 PERTH WA 6831

Auditors

RSM Australia Partners Level 32, Exchange Tower 2 The Esplanade PERTH WA 6000 Tel: +61 8 9261 9100 Fax: +61 8 9261 9111

Share Registry

Advanced Share Registry 110 Stirling Highway NEDLANDS WA 6009 Tel: 1300 113 258

Stock Exchange Listing ASX Code: MOH

Website

www.mohoresources.com.au

Moho Resources Limited Contents

Annual report for the year ended 30 June 2021

Directors’ Report	3
Auditor’s Independence Declaration	40
Independent Auditor’s Report	41
Directors’ Declaration	44
Statement of Profit or Loss and Other Comprehensive Income	45
Statement of Financial Position	46
Statement of Changes in Equity	47
Statement of Cash Flows	48
Notes to the Financial Statements	49
Schedule of Exploration Tenements	72
Shareholder Information	74

Moho Resources Limited Director’s report

Chairman’s Letter

Dear Investor

On behalf of the directors of Moho Resources Limited (Moho or the Company), it gives me great pleasure to present Moho’s third Annual Report as an ASX-listed company.

2020-21 continued to be a challenging year in the current COVID-19 environment, with border controls, labour and drill rig shortages and reduced laboratory output affecting most of Moho’s field operations.

Positive results from earlier drilling at the Silver Swan North Project about 50km north of Kalgoorlie in WA has encouraged the Company to press on with further drilling and mining investigations on the East Sampson Dam gold prospect’

During the year assay and geological data from RC and diamond drill programs conducted at the East Sampson Dam prospect were critically reviewed and modelled by highly respected mining consultant CSA Global. This important work enabled the Company to announce a maiden Interim Resource Estimate of 264,000 t @ 2.5g/t Au for 21,600 ounces Au at 0.5g/t cut-off grade in July 2021.

Completion of the interim Mineral Resource Estimate at the East Sampson Dam prospect marks a major milestone for Moho in advancing towards becoming a gold producer. Importantly there is significant potential to increase the resource estimate given mineralisation is open to the north, south and at depth. With that in mind, we are aggressively accelerating drill programs into H2 2021 while commencing a Scoping Study to progress mine development.

The viability of a potential gold mining operation on the East Sampson Dam prospect has been enhanced by positive results from metallurgical test work on composite samples representing mineralisation within preliminary pit shell design. Significantly, conventional cyanide leaching yielded over 95% overall gold recovery, replicating standard Kalgoorlie toll treatment processing.

The Company has also expanded the gold exploration potential of the Silver Swan North Project by applying for additional exploration licences and entering into option agreements to purchase a number of nearby prospecting licences and an adjoining granted mining lease.

Moho has achieved spectacular success at the Empress Springs project in North Queensland where sampling of water bores has resulted in the identification of a large ~90 km long hydrogeochemical gold anomaly, despite Covid issues restricting movement between Queensland and Western Australia. The unique survey was conducted in conjunction with highly reputable researchers at CSIRO and overviewed by experienced explorer and Moho’s JV partner, IGO.

The study confirms the mineralisation discovered under cover thus far by Moho and significantly reinforces the potential for new mineral discoveries within our tenements. As a result of the enhanced prospectivty, the Company has applied to expand its tenure by a further 29% which now covers 3,403 km[2] .

During the year, Moho made considerable progress improving its understanding of the Burracoppin gold project, located in Western Australia wheatbelt. Anomalous bedrock mineralisation intersected in aircore drilling in 2020 has been followed up with an RC drill program at the Crossroads prospect. Significant mineralisation was intersected in bedrock for the first time, with mineralisation open north, west and at depth. A diamond drilling program was also completed at the Crossroads prospect, with results still pending.

The innovative quality work of Moho’s geological team continued during the current year, with the Company receiving A$686,000 as a refundable tax offset in 2021 for eligible research and development (R&D) expenditure conducted across its highly prospective projects. The company was also a successful recipient of a co-funded drilling grant of up to $147,526 under the Exploration Incentive Scheme by the WA Government to test for potential gold/silver Intrusive Mineral System at the Burracoppin Project.

Moho Resources Limited Director’s report

In conclusion, I am pleased with the exceptional progress Moho and our exploration team has made given the challenging circumstances we are all operating in. The high gold and nickel prices are very encouraging and I believe Moho has some of the most prospective exploration ground in the business with a sound growth and development strategy.

Once again I would like to thank all our shareholders for their support throughout the year and also to thank the many stakeholders who have assisted Moho during this time.

Yours sincerely

==> picture [143 x 54] intentionally omitted <==

Terry Streeter Chairman Moho Resources Limited

Moho Resources Limited Director’s report

The Directors of Moho Resources Limited (“Moho” or “the Company”) present their report together with the annual report of the Company for the financial year ended 30 June 2021.

Director details

The following persons were Directors of the Company during or since the end of the financial year:

Name	Particulars
Mr Terry Streeter	Non-Executive Chairman – Appointed 6 July 2018.
	Mr Streeter has extensive experience in funding, listing
	and overseeing junior explorers in all exploration and
	economic cycles and has served in various roles in the
	nickel sulphide industry for over 30 years.
	Mr Streeter is currently a director of Corazon Mining Ltd
	and Emu NL. During the previous three years Mr Streeter
	has been a Director of Alto Metals Ltd (resigned 8
	November 2018).
	Mr Streeter currently holds 1,981,250 ordinary shares,
	160,417 listed options and 3,000,000 unlisted options.
Mr Shane Sadleir	Managing Director – Appointed 12 March 2012.
BSc (Hon), FAusIMM	Mr Sadleir is a geoscientist with over 30 years experience
	in exploration, mining, environmental and corporate
	aspects of the mining industry, having specialised in the
	mineralogy and geochemistry of Darling Range bauxite
	deposits at University. Throughout his career Mr Sadleir
	has been involved in the exploration of gold, uranium,
	nickel, base metals, bauxite and mineral sands in
	Australia and overseas.
	Since 2005, he has been involved in the formation,
	project acquisition and successful listing of a number of
	public mining companies on the ASX and the Alternative
	Investment Market in London. He has previously held
	directorship positions with Bannerman Resources
	Limited, Trafford Resources Limited, Athena Resources
	Limited, Robust Resources Limited and Scotgold
	Resources Limited.
	Mr Sadleir currently holds 3,199,123 ordinary shares,
	942,866 listed options and 9,642,894 unlisted options.
Mr Ralph Winter	Commercial Director – Appointed 12 March 2012.
BCom, Grad Dip Prof Acct, GAICD	Mr Winter is a commerce graduate with 17 years of
	experience in the mining and exploration industry. He
	has specialised in corporate affairs and finance,
	marketing and promotion and business development in
	both exploration and development companies, with a
	wide range of commodities including gold, copper,
	silver, uranium and iron ore.
	Mr Winter is a graduate of the Australian Institute of
	Company Directors, Founding Director of Australian
	Remote Assistance and a volunteer Director of Breast
	Cancer Care WA which is a not for profit organisation.

Moho Resources Limited Director’s report

Mr Winter currently hold 747,437 ordinary shares, 947,227 listed options and 5,400,000 unlisted options.

Mr Adrian Larking

BSc (Hon, 1[st] ) UWA and Adelaide, MSc & Dip Imperial College (RSM, London), LLB (Adelaide), Grad. Dip. Legal Practice (SA); FAusIMM, FAIG

Non-Executive Director – Appointed 7 March 2014.

Mr Larking is a geoscientist and lawyer with extensive minerals, petroleum and energy industry experience in Australia and internationally. He spent over 25 years with Western Mining Corporation Limited (WMC) holding various senior and management positions in exploration, mine geology, research, commercial, analyst, and marketing in the, minerals and petroleum divisions.

Mr Larking has been involved in the successful establishment of a number of junior gold companies which discovered multi-million ounce gold deposits and has substantial experience as a director of listed and unlisted resource companies and consultant to exploration companies. Until recently, Mr Larking has been a long serving Councillor of the Association of Mining and Exploration Companies (AMEC), having been awarded Life Membership of AMEC during the year.

Mr Larking currently holds 868,672 ordinary shares, 1,169,490 listed options and 3,900,000 unlisted options.

Company secretary

Mr Ralph Winter, appointed on 8 October 2018.

Mr David McEntaggart was appointed joint company secretary on 3 December 2018 and resigned on 17 November 2020.

Remuneration Report (Audited)

The remuneration report, which forms part of the Directors' Report, outlines the remuneration arrangements in place for key management personnel (KMP) who are defined as those persons having the authority and responsibility for planning and directing the major activities of the Company, directly and indirectly, including any director (whether executive or otherwise).

Remuneration Philosophy

The performance of the Company depends on the quality of the Company's Directors, executives and employees and therefore the Company must attract, motivate and retain appropriately qualified industry personnel.

Remuneration policy

Remuneration levels for the executives are competitively set to attract the most qualified and experienced candidates, taking into account prevailing market conditions and the individual's experience and qualifications.

During the period, the Company did not have a separately established remuneration committee. The Board is responsible for determining and reviewing remuneration arrangements for the executive and non-executive Directors.

The remuneration of executive and non-executive Directors is not dependent on the satisfaction of performance conditions. Remuneration and share based payments are issued to align Directors' interest with that of shareholders.

Moho Resources Limited Director’s report

Executive Director Remuneration

The Company aims to reward executives based on their position and responsibility, with a level and mix of remuneration which has both fixed and variable components.

The executive remuneration and reward framework has four components:

base pay and non-monetary benefits
short-term performance incentives
share-based payments
other remuneration such as superannuation and long service leave

The combination of these comprises the executive's total remuneration.

Mr Sadleir was appointed as a Director on 12 March 2012. His employment conditions are governed by an Executive Services Agreement dated 5 July 2018. Mr Sadleir is entitled to receive $180,000 per annum (exclusive of statutory superannuation). The terms of the agreement can be terminated by the Company by providing three (3) months written notice and then paying Mr Sadleir an amount equal to three (3) months salary at the end of that notice period. Mr Sadleir may terminate the terms of the agreement by providing three (3) months written notice.

Mr Winter was appointed as a Director on 12 March 2012. His employment conditions are governed by an Executive Services Agreement dated 5 July 2018. Mr Winter is entitled to receive $150,000 per annum (exclusive of statutory superannuation). The terms of the agreement can be terminated by the Company by providing three (3) months written notice and then paying Mr Winter an amount equal to three (3) months salary at the end of that notice period. Mr Winter may terminate the terms of the agreement by providing three (3) months written notice.

Non-Executive Directors Remuneration

Fees and payments to non-executive directors reflect the demands and responsibilities of their role. Nonexecutive directors' fees and payments are reviewed annually. The Board may, from time to time, receive advice from independent remuneration consultants to ensure non-executive directors' fees and payments are appropriate and in line with the market. The chairman's fees are determined independently to the fees of other non-executive directors based on comparative roles in the external market. The chairman is not present at any discussions relating to the determination of his own remuneration.

Mr Streeter was appointed as a Director on 5 July 2018. His appointment is governed by a Non-Executive Director appointment letter dated 5 July 2018. Mr Streeter is entitled to receive $100,000 per annum (exclusive of statutory superannuation.

Mr Larking was appointed as a Director on 7 March 2014. His appointment is governed by a Non-Executive Director appointment letter dated 5 July 2018. Mr Larking is entitled to receive $48,000 per annum (exclusive of statutory superannuation).

The Company's Constitution provides that the remuneration of Non-Executive Directors will not be more than the aggregate fixed sum determined by a general meeting. Before a determination is made by the Company in a general meeting, the aggregate sum of fees payable by the Company to the Non-Executive Directors is a maximum of $300,000 per annum. Summary details of remuneration of the Non-Executive Directors are provided in the table below. The remuneration is not dependent on the satisfaction of a performance condition.

Directors are entitled to be paid reasonable travelling, accommodation and other expenses incurred in consequence of their attendance at meetings of Directors and otherwise in the execution of their duties as Directors. A Director may also be paid additional amounts as fees or as the Directors determine where a Director performs extra services or makes any special exertions, which in the option of the Directors are outside the scope of the ordinary duties of a Director.

Moho Resources Limited Director’s report

Relationship between the Remuneration Policy and Company Performance:

	30 June 2021	30 June 2020	30 June 2019	30 June 2018	30 June 2017
	$	$	$	$	$
Revenue	-	238,409	213,432	-	-
Loss after income tax	(1,989,207)	(1,352,205)	(1,142,670)	(554,433)	(424,626)
Basic loss per share (cents)	(2.32)	(2.76)	(3.46)	(7.66)	(7.24)
Diluted loss per share (cents)	(2.32)	(2.76)	(3.46)	(7.66)	(7.24)

Details of remuneration

Details of the nature and amount of each element of the emoluments of each of the Directors and Key Management Personnel of the Company for the year ended 30 June 2021 and 30 June 2020 are:

2021
Key Management Short-term	Benefits	Post-	Other	Equity-settled		Total	Options as a
Person		employment	Long-	share	based		percentage of
		Benefits	term	Payments			Remuneration
			Benefits
Cash, salary	Other	Super-	Other	Equity	Options
&		annuation
bonus
$	$	$	$	$	$	$	%
Directors
Shane Sadleir 180,000	-	17,100	-	-	281,753	478,853	59%
Ralph Winter 150,000	18,0001	14,250	-	-	281,753	464,003	61%
Terry Streeter 100,000	-	9,500	-	-	123,603	233,103	53%
Adrian Larking 48,000	-	4,560	-	-	158,151	210,711	75%
TOTAL 478,000	18,000	45,410	-	-	845,260	1,386,670
1 During the period Mr Winter was paid	$18,000 for	annual leave accrued but not		taken.
2020
Key Management Short-term	Benefits	Post-	Other	Equity-settled		Total	Options as a
Person		employment	Long-	share	based		percentage of
		Benefits	term	Payments			Remuneration
			Benefits
Cash, salary	Other	Super-	Other	Equity	Options
&		annuation
bonus
$		$	$	$	$	$	%
Directors
Shane Sadleir 180,000	-	17,100	-	-	34,642	231,742	15%
Ralph Winter 150,000	-	14,250	-	-	34,642	198,892	17%
Terry Streeter 100,000	-	9,500	-	-	-	109,500	-
Adrian Larking 48,000	-	4,560	-	-	34,642	87,202	40%
TOTAL 478,000	-	45,410	-	-	103,926	627,336

Moho Resources Limited Director’s report

Options and Rights Over Equity Instruments Granted as Compensation

Details of options over ordinary shares in the Company that were granted as compensation during the financial year ended 30 June 2021 to each key management person during the period and details of options are as follows:

	Granted	Grant date	Fair value per	Exercise	Expiry date	Number
			option	price per		Options vested
				option
Directors
	1,000,000	14 August 2020	$0.0696	$0.19	13 August 2022	-
Shane Sadleir	1,000,000	14 August 2020	$0.0837	$0.20	13 August 2023	1,000,000
	1,000,000	14 August 2020	$0.0939	$0.21	13 August 2024	1,000,000
	1,000,000	14 August 2020	$0.0696	$0.19	13 August 2022	-
Ralph Winter	1,000,000	14 August 2020	$0.0837	$0.20	13 August 2023	1,000,000
	1,000,000	14 August 2020	$0.0939	$0.21	13 August 2024	1,000,000
	500,000	14 August 2020	$0.0696	$0.19	13 August 2022	-
Adrian Larking	500,000	14 August 2020	$0.0837	$0.20	13 August 2023	500,000
	500,000	14 August 2020	$0.0939	$0.21	13 August 2024	500,000
	500,000	14 August 2020	$0.0696	$0.19	13 August 2022	-
Terry Streeter	500,000	14 August 2020	$0.0837	$0.20	13 August 2023	500,000
	500,000	14 August 2020	$0.0939	$0.21	13 August 2024	500,000

There were no options granted to Key Management Personnel during the financial year ended 30 June 2020.

Transactions with related parties

During the year, fees of $60,134 (2020: $28,950) were paid or due to be paid to Deadset Visuals Pty Ltd, a company of which Mr Winter’s spouse is a director of, for online marketing and graphic design services.

There were no other transactions between related parties during the financial year.

Loan to Directors and their related parties

No loans have been made to any Director or any of their related parties during the period. There were no further transactions with Directors including their related parties other than those disclosed above.

Moho Resources Limited Director’s report

KMP Shareholdings

The number of ordinary shares in Moho Resources Limited held by each KMP of the Company during the financial period is as follows:

			Issued on
		Granted as	exercise of	Other
	Balance at	remuneration	options	changes	Balance at
	beginning of	during the	during the	during the	end of
	period	period	period	period	period
30 June 2021
Shane Sadleir	2,828,597	-	-	272,311	3,100,908
Ralph Winter	516,668	-	-	230,769	747,437
Terry Streeter	1,981,250	-	-	-	1,981,250
Adrian Larking	637,903	-	-	230,769	868,672
			Issued on
		Granted as	exercise of	Other
	Balance at	remuneration	options	changes	Balance at
	beginning of	during the	during the	during the	end of
	period	period	period	period	period
30 June 2020
Shane Sadleir	2,828,597	-	-	-	2,828,597
Ralph Winter	516,668	-	-	-	516,668
Terry Streeter	1,981,250	-	-	-	1,981,250
Adrian Larking	637,903	-	-	-	637,903

Moho Resources Limited Director’s report

KMP Options Holdings

The number of options over ordinary shares held during the financial period by each KMP of the Company is as follows:

			Exercised	Purchased		Other
	Balance at	Granted	during	during the		changes
	beginning	during the	the	period		during the		Balance at	Vested and
	of period	period	period			period		end of period	exercisable
30 June 2021
Shane Sadleir	7,585,760	3,000,000	-		-		-	10,585,760	7,185,760
Ralph Winter	3,347,227	3,000,000	-		-		-	6,347,227	2,947,227
Terry Streeter	1,660,417	1,500,000	-		-		-	3,160,417	2,660,417
Adrian Larking	3,569,490	1,500,000	-		-		-	5,069,490	2,169,490
			Exercised	Purchased		Other
	Balance at	Granted	during	during the		changes
	beginning	during the	the	period		during the		Balance at	Vested and
	of period	period	period			period		end of period	exercisable
30 June 2020
Shane Sadleir	7,585,760	-	-		-		-	7,585,760	5,185,760
Ralph Winter	3,347,227	-	-		-		-	3,347,227	947,227
Terry Streeter	1,660,417	-	-		-		-	1,660,417	1,660,417
Adrian Larking	3,569,490	-	-		-		-	3,569,490	1,169,490

End of Remuneration Report

Moho Resources Limited Director’s report

Principal activities

The principal activity of the Company during the financial period was ongoing exploration activities.

There was no significant change in the nature of the Company’s activity during the financial year.

Review of operations

SILVER SWAN NORTH GOLD - EXPLORATION, MINING STUDIES AND RESOURCE DEFINITION

During the year, Moho focused significant expenditure on exploration, resource definition drilling and mining studies at the Silver Swan North gold-nickel project, approximately 50km northeast of Kalgoorlie in Western Australia (Figure 1), culminating in an interim Mineral Resource Estimate (MRE) at the East Sampson Dam prospect (ESD) in July 2021.

Surface geochemical infill sampling was completed over the majority of the Silver Swan North Project, generating high confidence drill targets, including a strong anomaly extending over about 2.2km north of ESD and confirming broad geochemical gold anomalism through the southwest sector of the Silver Swan North Project.

The Company increased its interest in the gold and nickel potential of the Silver Swan North Project by the 100% acquisition of granted mining lease M27/263 (which includes ESD) and entering into option agreements to purchase a number of nearby prospecting licences and an adjoining granted mining lease.

==> picture [306 x 417] intentionally omitted <==

Figure 1: Moho’s Silver Swan North Project tenements in relation to regional geology

Moho Resources Limited Director’s report

METALLURGICAL TESTWORK

The Company appointed JT Metallurgical Services Pty Ltd (JT) to provide specialist toll treatment services for the management of metallurgical test work. In August 2020, Moho reported the preliminary metallurgical test results on composite samples of gold mineralisation at ESD.

The first test work phase was conducted on nine variability composites of material derived from Moho’s 2019 RC drilling program. The composites were selected to best represent the grade and nature of gold mineralisation at ESD modelled on initial pit optimisation studies and took into account different lithologies, gold grades and degree of oxidation.

A metallurgical test work program was undertaken by JT to reflect the treatment of ESD mineralisation through Kalgoorlie toll treatment facilities. The test work conditions were designed to replicate these toll milling facilities operating parameters, namely grind size, cyanide and dissolved oxygen concentrations, residence time and pH. Kalgoorlie sourced, hypersaline raw water was utilised in all tests to best gauge consumption rates of lime and cyanide.

All compositing and metallurgical test work was conducted at Metallurgy Pty Ltd in Perth with solid assays conducted at NATA accredited Nagrom Laboratories in Perth. All composites were assayed via Bulk Leach Extractable Grade with Fire Assay finish (BLEG) to mitigate any possible effect of coarse gold with comprehensive assays completed on six of the nine variability composites. The other three variability composites were acquired purely for rheological test work. The comprehensive head assays (Table 1) showed that the six composites had low concentrations of common deleterious elements such as arsenic, copper, antinomy and tellurium. Elevated organic carbon at 0.58% was noted in the ‘Shale’ variability composite.

Table 1: Gravity and Overall Gold Recoveries with Reagent Consumptions

Description	Head Grade2	Recalc	Gravity	Overall Recovery	Residue	Lime	Cyanide
	g/t	g/t	%	%	g/t	kg/t	kg/t
Weathered1	4.49	3.97	52.9	95.6	0.18	6.27	0.7
Early Develop1,3	2.51	2.53	41.8	95.9	0.10	6.79	0.81
Fresh	4.04	4.68	44.1	86.1	0.65	4.96	0.52
Fresh/No Shale	3.67	3.65	26.7	83.0	0.62	6.7	0.6
High Sulphides	2.20	1.94	23.2	81.5	0.36	7.12	0.74
Shale	2.53	3.22	47.8	70.8	0.94	6.71	0.58

Notes: 1. Composites of weathered rocks; 2. via 1kg BLEG with Fire Assay Finish; 3. Shallow oxide mineralisation likely to be early mill feed

Excellent metallurgical test results from variability composite samples representing >99% of mineralisation within preliminary pit shell design:

Conventional cyanide leaching yielded 95.6% & 95.9% overall gold recovery replicating standard Kalgoorlie toll treatment processing;

Moho Resources Limited Director’s report

Reasonably high gold recoveries of 41.8% to 52.9% from conventional gravity tests;
Elevated gold recovery via BLEG method for all five weathered composites;
Rapid leach kinetics (reaction rates) within typical reagent consumption allowances;
Rheological tests (flow & deformation of slurry) returned positive results on addition of viscosity modifier;
High recovery and rapid kinetics indicate that a coarser grind size may be acceptable.

Further testwork may involve a single master composite derived from the variability composites to represent potential mill feed grade and oxidation state as presented by the pit shell at that time. Optimisation test work focused on grind size and leach conditions may take place with the optimum conditions then replicated in the presence of activated carbon to reflect a standard Carbon-In-Pulp (CIP) plant. These tests would be conducted in the presence of a viscosity modifier.

Further tests will be designed to provide toll millers, which Moho may approach to secure a Toll Milling Agreement, with confidence that the potential ESD mineralisation can be treated successfully through their mill at their operating conditions.

PHASE 1 RC DRILLING

Phase 1 of the resource infill drilling program commenced in July 2020 to infill and extend gold mineralisation at ESD (Figure 2). The program totalled 16 holes for 1,432m of RC drilling.

The Phase 1 RC drilling program highlighted a number of significant gold intersections including:

SSMH0078: 3m @ 1.99 g/t Au from 78m
SSMH0079: 5m @ 1.76 g/t Au from 88m, incl. 1m @ 5.7 g/t Au from 89m
SSMH0081: 2m @ 4.57 g/t Au from 51m, incl. 1m @ 8.5 g/t Au from 51m, 1m @ 1.63 g/t Au from 63m, and 2m @ 1.27 g/t Au from 69m
SSMH0083: 4m @ 1.75 g/t Au from 34m incl. 1m @ 5.17 g/t Au from 37m, 5m @ 1.02 g/t Au from 53m, and 5m @ 0.74 g/t Au from 80m
SSMH0087: 1m @ 3.21 g/t Au from 43m, 1m @ 2.25 g/t Au from 64m, and 3m @ 1.22 g/t Au from 88m incl. 1m @ 2.49 g/t Au from 88m
SSMH0091: 1m @ 4.25 g/t Au from 50m, 2m @ 4.04 g/t Au from 63m incl. 1m @ 7.51 g/t Au from 63m

The reporting of these results was delayed due to industry standard QAQC resource check assaying and unusually high backlog of samples at Bureau Veritas Perth.

Moho Resources Limited Director’s report

==> picture [463 x 607] intentionally omitted <==

Figure 2: Significant Au results, Phase 1 2020 RC drill program collars in relation to known mineralised zone and gold intersections in past Moho RC drill programs

Moho Resources Limited Director’s report

DIAMOND DRILLING

The diamond drilling campaign was initiated in October 2020 for geotechnical purposes and to infill and extend the gold mineralisation previously identified (Figure 3).

==> picture [375 x 432] intentionally omitted <==

Figure 3: Surface 365m RL plan with DD collars, interpreted structures, Au grade shells, & preliminary modelled Whittle pit outline

10 diamond drill holes were drilled for a total of 652.7 metres with the holes designed to target mineralised intercepts in past RC drilling, identify structures offsetting or controlling mineralisation or provide geotechnical data for mining studies. Initial assay results in November 2020 returned encouraging results:

SSMH0095: 2m @ 18.0 g/t Au from 105m incl. 1m @ 34.8 g/t Au from 106m
SSMH0097: 6m @ 5.63 g/t Au from 18m incl. 1m @ 16.2 g/t Au from 19m, & 1m @ 13.5 g/t Au from 23m (Figure 4)
SSMH0098: 1m @ 18.2 g/t Au from 69m, 1m @ 4.67 g/t Au from 52m & 3m @ 1.17 g/t Au from 63m

Moho Resources Limited Director’s report

==> picture [451 x 439] intentionally omitted <==

Figure 4: Section 6637780N – DD twin hole SSMH0097 - Significant intersections with preliminary modelled gold grade shells

SSMH0100 was designed to explore the western preliminary Whittle pit shell area for geotechnical investigation purposes. Assay results released in January 2021 indicated the discovered four new unexpected and significant gold intercepts outside of known mineralised zones (Figure 5). Results from SSMH0100 included:

7m @ 4.78 g/t Au from 51m incl. 1m @ 22.2 g/t Au from 53m
5m @ 8.01 g/t Au from 59mincl. 1m @ 23.5 g/t Au from 60m
2m @ 6.91 g/t Au from 77m
3m @ 0.79 g/t Au from 72m

These predominantly high grade gold intersections appear to extend high grade mineralisation previously discovered in MRC008, SSMH0067 and SSMH0091 into new areas. This new mineralisation was found in saprolitic tuff with minor quartz veining and is in line with previous observations of there being no visible high grade gold in the drill core.

Director’s report

==> picture [440 x 389] intentionally omitted <==

Figure 5: Section 6637760N – DD hole SSMH0100 - Significant intersections with preliminary modelled gold grade shells

In general the mineralised intervals identified in the diamond drilling showed a high correlation with gold grades in adjacent holes at ESD. Gold mineralisation was found in units close to the margins of the quartz feldspar porphyry body which intrudes the sedimentary/diorite sequence.

The diamond drilling successfully explored a number of interpreted structures that Moho believes may be controlling the distribution of gold mineralisation at ESD. An understanding of the distribution of these structures will assist future drill campaigns to locate and delineate further gold mineralisation.

EXPANDED PHASE 2 RC DRILLING

Phase 2 of the infill resource RC drill program commenced in early December 2020. This final drill program of 45 RC holes (~3,800m) aimed to infill the current resource drilling density at ESD as well as test for mineralised extensions to the north and south (Figures 6 & 7). A number of deeper holes were also designed to test the potential for mineralised stacked shoots adjacent to the porphyry.

Moho Resources Limited Director’s report

==> picture [446 x 626] intentionally omitted <==

Figure 6: Phase 2 ESD RC drill program collars in relation to known mineralised zones

Assay results from the final 45 RC holes contained a number of significant mineralised intervals and new mineralised zones that extended high grade gold mineralisation a further 40m north along strike (Table 2).

Moho Resources Limited Director’s report

Table 2: East Sampson Dam – SSMH0127-SSMH0146 significant gold assay results

Prospect	Hole ID	From (m)	To (m)	Interval (m)	Significant Intercept
ESD	SSMH0130	43	45	2	[email protected]/t Au
ESD	SSMH0130	55	56	1	[email protected]/t Au
ESD	SSMH0132	42	46	4	[email protected]/t Au
	incl	42	43	1	1m@ 1.04g/t Au
	incl	45	46	1	*1m@ 5.22g/t Au*
ESD	SSMH0133	38	39	1	[email protected]/t Au
ESD	SSMH0135	18	19	1	[email protected]/t Au
ESD	SSMH0135	91	92	1	[email protected]/t Au
ESD	SSMH0138	41	42	1	[email protected]/t Au
ESD	SSMH0138	45	46	1	[email protected]/t Au
ESD	SSMH0138	51	54	3	[email protected]/t Au
	incl	53	54	1	1m@ 1.44g/t Au
ESD	SSMH0139	40	41	1	[email protected]/t Au
ESD	SSMH0139	62	68	6	6m@ 11.03g/t Au
	incl	62	63	1	*1m@ 8.8g/t Au*
	incl	63	64	1	*1m@ 10.7g/t Au*
	incl	64	65	1	*1m@ 43.5g/t Au*
ESD	SSMH0139	73	74	1	[email protected]/t Au
ESD	SSMH0141	14	15	1	[email protected]/t Au
ESD	SSMH0141	32	33	1	[email protected]/t Au
ESD	SSMH0142	42	43	1	1m@ 7.05g/t Au
ESD	SSMH0142	47	49	2	[email protected]/t Au
ESD	SSMH0144	19	22	3	[email protected]/t Au
	incl	19	20	1	*1m@ 5.2g/t Au*
	incl	21	22	1	1m@ 2.38g/t Au
ESD	SSMH0145	34	35	1	[email protected]/t Au
ESD	SSMH0145	39	41	2	[email protected]/t Au
	incl	39	40	1	1m@ 1.72g/t Au
ESD	SSMH0146	64	65	1	[email protected]/t Au

Notes:

1. Results are aggregation of 1m intercepts > 0.5 g/t Au, up to 1m of internal dilution. 2 Results are based on a 1m sample from RC rig cone splitter.

3. Samples were assayed for gold using 40g charge fire assay with AAS finish.

4. Sample intervals are down hole and true widths are yet to be determined.

Moho Resources Limited Director’s report

==> picture [448 x 447] intentionally omitted <==

Figure 7: Phase 2 RC drilling cross section 6637920N at ESD (looking north)

The Phase 2 RC program was successful in finding new mineralisation and clarifying the extent and tenor of gold mineralisation at the prospect. High grade intersections were located 60m north of previous drilling, which was very encouraging. Additional drilling is warranted to the north and south to extend or close off new mineralisation discovered.

MINERAL RESOURCE ESTIMATE

Post year-end the Company announced its maiden Mineral Resource Estimate (MRE) of 264,600 tonnes at 2.5g/t Au for 21,600 ounces Au at a 0.5g/t Au cut-off (refer to Table 3).

The MRE is open to the north, south and at depth and offers significant growth potential (see Table 1). 70.2% 13,800 ounces) of the MRE is in the Indicated category and 93% (19,000 oz) is located within softer, near-surface zones.

The MRE was prepared by Moho’s Mineral Resource Consultant CSA Global Pty Ltd. The Resource highlighted significant expansion potential at ESD and the Company will look to accelerate drilling in the second half of CY2021, as well as commence a Scoping Study to progress potential mine development.

Moho Resources Limited

Director’s report

Domain	Class	Tonnes (kt)	Au g/t	Au Metal (koz)
OXIDE	Indicated	68.4	2.3	5.0
	Inferred	14.4	3.2	1.5
	Total	82.9	2.4	6.4
LOWER SAPROLITE	Indicated	81.7	2.0	5.3
	Inferred	34.5	3.3	3.6
	Total	116.2	2.4	9.0
TRANSITION	Indicated	29.0	3.4	3.2
	Inferred	18.2	3.9	2.3
	Total	47.2	3.6	5.5
FRESH	Indicated	6.6	1.3	0.3
	Inferred	11.8	1.2	0.5
	Total	18.4	1.2	0.7
TOTAL	Indicated	185.7	2.3	13.8
	Inferred	78.9	3.1	7.8
	Total	264.6	2.5	21.6

Table 3: East Sampson Dam Interim Mineral Resource Estimate. Note: data is reported to significant figures and differences may occur due to rounding

TENEMENT ACQUISITIONS & APPLICATIONS

In September 2020, Moho announced a substantial increase in ground holding close to ESD gold prospect on M27/263.

Moho applied as sole holder for a number of tenements and signed Option Agreements to secure rights to a number of adjacent and nearby tenements (Option Tenements) – refer to Figure 8, Table 4. The Option Tenements represent a significant addition to Moho’s highly prospective Silver Swan North project tenement holdings (Tenement Schedule).

Moho Resources Limited Director’s report

==> picture [461 x 137] intentionally omitted <==

Table 4: Acquisition Details of Option Tenements, Silver Swan North Project

==> picture [407 x 467] intentionally omitted <==

Figure 8: Location of surface geochemical samples in relation to in relation to Moho tenements at Silver Swan North project, including recent Applications and Optioned Tenements

Moho Resources Limited Director’s report

SURFACE GEOCHEMICAL SAMPLING PROGRAM INCREASES PROSPECTIVITY AT SILVER SWAN NORTH

Moho completed surface geochemical infill sampling program over the majority of Silver Swan North with results announced in November 2020.

The new data, when combined with historical data, confirmed broad geochemical gold anomalism through the southwest sector of the Silver Swan North Project. The data also highlighted a continuous +25ppb gold anomaly extending 2.2km from ESD to north of the Tyrells prospect through ton an area of significant gold anomalism on the acquired tenement under option M27/488 (Figures 8 & 9).

==> picture [437 x 501] intentionally omitted <==

Figure 9: New Silver Swan North surface geochemistry ppb Au contours (source: Richard Carver)

Moho Resources Limited Director’s report

Infill and extension surface geochemical samples were collected from approximately 30cm below surface on either 200m x 40m or 200m x 80m spaced grids. The grids were designed to infill and extend historic auger geochemical data, which when combined with the new data give an effective spacing of 100m x 40m.

A total of 2661 samples (including QA/QC samples) were submitted to the laboratory for gold and, in selective areas, base metal analyses. As a quality check of the historical gold auger geochemical data, Moho’s technical team repeated sections of three historical traverses collecting 54 samples. A comparison of the duplicate results with historical data shows there is a very high correlation between the two sets of data. The validation of the historical data provides confidence to Moho of this extensive gold anomalism.

The new surface geochemistry highlights the potential of M27/488 with the highest gold value of 452ppb recorded on this tenement (Figure 5). Prior drilling by Mt Kersey Mining on this tenement located gold mineralisation associated with an intrusive porphyry. This geological setting is apparently very similar to the geology of the ESD gold prospect, where gold is spatially related to quartz porphyry intruding a mafic and sediment package.

EXPLORATION CAMP INFRASTRUCTURE

In September 2020, the Company secured a transportable accommodation unit and office caravan and established a field office at the Silver Swan North project to facilitate continued resource assessment at ESD.

M27/263 ACQUISITION COMPLETED

During the September quarter 2020, Moho fulfilled the terms for the 100% acquisition of M27/263 from Odin Metals Limited (ASX:ODM) (“Odin”), which includes ESD.

BURRACOPPIN EXPLORATION

Moho made considerable progress improving its understanding of the Burracoppin gold project, located in Western Australia wheatbelt approximately 20km from Ramelius Resources’ Edna May processing plant, near the town of Merredin (Figure 10).

COMPLETION OF 70% EARNIN OF E70/4688 FROM IGO

At the beginning of the financial year, the Company completed its commitment as per a Farm-In and Joint Venture Letter Agreement with IGO Limited (ASX: IGO), to earn a 70% interest in the project (E70/4688).

Moho and IGO subsequently formed an unincorporated joint venture for the purpose of exploring and, if warranted, developing and mining on E70/4688. IGO’s 30% interest will be free carried until completion of a pre-feasibility study, at which time IGO may elect to contribute pro-rata to ongoing work or convert its 30% interest to a 10% free carried interest.

REVERSE CIRCULATION DRILLING PROGRAM

Throughout January-February 2021, the Company conducted a maiden reverse circulation (RC) drilling campaign at Burracoppin, with 32 holes completed for 3,108m drilled.

The RC drill program primarily targeted extensions to the shallow bedrock gold and silver mineralisation previously identified in aircore drilling at the Crossroads prospect. The mineralisation identified was open to the south, east and at depth, and located on the northern margin of a pronounced gravity low that may represent a felsic intrusion.

Results from RC drilling were highly encouraging, with higher grades intersected within a large mineralised zone (see Table 5).

Moho Resources Limited Director’s report

==> picture [393 x 392] intentionally omitted <==

Figure 10: Location of Burracoppin Gold Project in relation to regional geology, gold occurrences and mine infrastructure (source: DMIRS GeoVIEW)

==> picture [403 x 178] intentionally omitted <==

Table 5: Significant RC drill intersections >0.4 g/t Au by 40g Aqua Regia digest and ICP (OES/MS) finish

Moho Resources Limited Director’s report

The bedrock gold mineralisation currently defined by aircore and RC drilling is open to the north, west and at depth and is located on the northern margin of a gravity low. The gravity low may represent a porphyry intrusion as scattered microgranite is found in the paddock to the south of the drilling (see Figure 11).

==> picture [447 x 577] intentionally omitted <==

Figure 11: Location of RC and aircore drilling showing mineralisation >0.4 g/t Au and relationship between mineralised trends and gravity lows

Moho Resources Limited Director’s report

Lithologies noted during drilling appear to dip gently to the east and include felsic gneiss, biotite schist/amphibolite, granite and quartzite. Petrographic descriptions of aircore chips from drill samples by consultant petrologist Dr Roger Townend have shown a predominantly mafic-derived meta-sedimentary sequence and bedrock gold mineralisation associated with interfingered mafics, felsic gneiss and felsic schist.

DIAMOND DRILLING PROGRAM

The results from the RC drilling have assisted Moho’s subsequent diamond drilling, which was conducted in MayJune 2021 and targeted an interpreted zone of shallow, east dipping gold mineralisation which is surrounded by a halo of tungsten-molybdenum-arsenic anomalism – which are associated minerals (see Figure12).

==> picture [444 x 502] intentionally omitted <==

Figure 12: Location of diamond drillholes in relation to RC drilling results

Moho Resources Limited Director’s report

Four diamond holes were drilled for 630m with all core logged and photographed at site before being securely packed for transport to Kalgoorlie for cutting and assaying (see Figure 13).

Transported cover and clays of saprolite were drilled with HQ size (61mm diameter), and deeper fresh rock was drilled with NQ size (47mm diameter), which maximised core recovery and minimised direct drilling costs, while still enabling the collection of high quality lithological, structural and geochemical data.

The program was partially funded by the WA Government as part of its Exploration Incentive Scheme (EIS) to test a potential Intrusive-Related Gold mineral system at the Crossroads prospect.

Following the successful submission of an interim report outlining preliminary findings Moho was refunded 80% of the EIS grant.

==> picture [465 x 265] intentionally omitted <==

Figure 13: Managing Director interview at Burracoppin diamond drilling site (https://www.youtube.com/watch?v=QvoVoWKQERE)

Assays from the diamond drilling campaign are anticipated in Q3 of the 2021 calendar year. Moho will also look to compile assays with structural and other data to conduct further target generation at the Crossroads prospect into the new financial year.

Moho Resources Limited Director’s report

EMPRESS SPRINGS GOLD EXPLORATION

During the year, Moho conducted and announced highly significant results of a regional hydrogeochemistry borehole sampling program at Empress Springs in North Queensland (Figure 14). As a results of these results, Moho has acted promptly to apply for more mining tenements and increased its ground holding by 29% (1018km2) to 3403 km[2] .

Fieldwork at Empress Springs project during the current year has been severely impacted due to Covid 19 restrictions on travel and extensive wet weather conditions hampering site access. However, planning was undertaken for a major exploration program in the second half of 2021 to follow up the successful hydrogeochemical survey results released in March 2021.

==> picture [443 x 447] intentionally omitted <==

Figure 14: Moho’s tenements at the Empress Springs Project in relation to regional geology

HYDROGEOCHEMISTRY SAMPLING PROGRAM

The hydrogeochemistry study with the CSIRO was initiated in mid-2020. The collaborative study was designed to use water samples collected from water bores (Figure 15) to locate potential chemical signatures evidencing large mineralised systems hidden beneath the cover rock sequences. The results will be used by Moho to orient and focus exploration towards finding new mineralisation in the Empress Springs project area.

Moho Resources Limited Director’s report

==> picture [465 x 633] intentionally omitted <==

Figure 15: Location of water bores sampled by Moho in conjunction with CSIRO at Empress Springs

Moho Resources Limited Director’s report

Data Synthesis and Results, IGO:

Following reporting of the data by CSIRO, expert analysis by geochemist Dr Justin Drummond of IGO has outlined a number of important findings, including the Croydon_Au_Index calculation. The gold indices calculated by IGO highlight gold anomalism around the inferred ‘caldera’ in both the Moho and Giblin datasets, as well as a strong gold anomaly in bores to the SE of the currently granted Moho tenement package (Figure 16).

==> picture [409 x 567] intentionally omitted <==

Figure 16: Relative gold anomalies from the Moho and Giblin water sample data (generated by IGO)

Moho Resources Limited Director’s report

Dr Drummond’s approach involved:

QAQC of compiled data
Thermodynamic modelling – element speciation, stability, mobility modelling
Data overview
Elemental Indices creation, levelling between datasets
Analysis and reporting

The Croydon_Au_Index calculation takes into account the behaviour and relative solubility of gold aqueous species between pH ranges 4 to 12 based on speciation calculations by Vlassopoulos and Wood (1990). These index scores were levelled between Giblin and Moho datasets in order to take into account the differences in gold population value ranges potentially caused by the differences in analytical method.

The results from the Empress Springs hydrogeochemistry survey demonstrate significant gold anomalism that highlights a ~90km long NW-SE trend that not only identifies previously discovered gold-base metal mineralisation, but highlights several new areas associated with complex crustal-scale structures that have the potential to host intrusion-related mineral systems.

Data Synthesis and Results, CSIRO:

The CSIRO compared the Moho results with two existing hydrogeochemical data sets, that of Giblin (CSIRO) and the Qld government publicly available data. The approach encompassed:

Data validation and removal of contaminated samples
Speciation analysis using Geochemist Workbench program using the Thermo.dat database
Generation of exploration indices (Table 5) as covered by publications such as Gray et al, 2016
Generation of Principal Component Analysis (PCA) scores to highlight elemental associations
Analysis and reporting

==> picture [445 x 227] intentionally omitted <==

Table 5: CSIRO generated mineral indices to highlight potential mineralisation styles

This geochemical analysis generated a number of gold and base metal saturation indices maps such as the SnWMo one shown in Figure 17. This ‘porphyry’ intrusive indicator index is used to enhance the groundwater signature of the key alteration or mineralisation elements Sn, W and Mo that are more mobile in groundwaters at neutral pH and thus provide a broader footprint than a single target element.

Moho Resources Limited

Director’s report

==> picture [429 x 582] intentionally omitted <==

Figure 17: Polymetallic “porphyry” SnWMo index anomalies, produced by Noble et al., 2021 ©CSIRO

The CSIRO work includes numerous plots that identify samples that could be attributed to mineralisation (Cu, Mo, Bi, PC3, 34S/2H isotopes, SO4:Cl) which CSIRO feels is very encouraging for ongoing exploration in the Moho tenements. The work also highlighted broad and high-level gold anomalism across the Empress Springs project which CSIRO has not seen elsewhere in this high concentration range and with these groundwater conditions. In addition, the PC3 score shows strong negative loadings of Bi, Pb, Cu, Sb, Sn and Cd reflecting the mineralisation already identified at the Yappar prospect by Moho in air core drillholes in 2019.

Moho Resources Limited Director’s report

Data Synthesis and Results, Richard Carver:

Consultant geochemist Richard Carver also analysed the data and agreed that gold anomalism at a regional scale is impressive and the area of lower pH in the project area could be due to weathering of sulphides. He also notes the W-Mo anomaly close to the interpreted caldera which also hosts a Sn-Cu-Pb anomaly associated with the only Moho samples with values above the detection limit.

Overall Conclusions by Moho

Moho is very encouraged by the evaluation by CSIRO, IGO and Richard Carver of these geochemical results and has applied for an additional 1018 km2 of EPM area to cover these hydrogeochemical anomalies.

References:

Carver, R., (2021) 2021_03_Moho_Empress_Springs-Hydro Geochemistry. Internal consultant report Gray et al., 2016 GEEA; Gray et al., AJES 2018

Drummond, J., (2021) Moho_Groundwater_Results_CSIRO_20210224. IGO internal consultant report Hronsky, J., 2019, Empress Springs Seismic Reinterpretation 2019 (internal consultant report) Olierook et al, (2021). Mineralisation proximal to the final Nuna suture in northeastern Australia. Gondwana Research 92 (2021) Noble, R., Henne, A., Thorne., A and Reid., N (2021). Hydrogeochemistry as an indicator for Lithology, Alteration and Prospectivity of New Economy Minerals Beneath the Eastern Carpentaria Basin, Northern Queensland; p52. CSIRO, Australia, EP21331

Vlassopoulos, D. and Wood, S.A. (1990) Gold speciation in natural waters: I. Solubility and hydrolysis reactions of gold in aqueous solution. Geochimica et Cosmochimica Acta, 54, 3–12

IP Survey of Arrowhead and Yappar Prospects

==> picture [409 x 324] intentionally omitted <==

Figure 18: Double Offset Dipole-Dipole IP Survey Arrays at Arrowhead-Yappar prospects

Moho Resources Limited Director’s report

During August 2020 Fender Geophysics complete a detailed Offset Dipole-Dipole ground Induced Polarization (IP) survey over the Yappar Prospect. The survey was conducted on existing tracks to traverse drill holes at the prospect which discovered anomalous Au-Ag-Zn-Pb-Cu mineralisation in 2018 and 2019 drilling (Figure 18).

Results from the Yappar IP survey were sent to Moho’s consultant geophysicist ExploreGeo for processing and interpretation. Identification of anomalies could provide a vectoring tool in locating additional mineralisation.

The IP survey proposed at the Arrowhead Prospect could not be undertaken due to a bushfire outbreak and has been rescheduled for 2021.

CORPORATE

As at 30 June 2021, the Company had cash and deposits of approximately $900k.

In September 2020 Moho completed a Share Purchase Plan (SPP) which closed on 28 August 2020. The SPP received applications from existing eligible shareholders of $1,112,995 being 8,561,500 new shares at an issue price of $0.13 per share. The SPP was strongly supported by the directors of Moho.

The Company also completed a $2.5 million placement before costs via the issue of shares in two tranches. The Company issued 18,736,633 Tranche 1 shares and 9,374,483 Tranche 2 shares, all at an issue price of $0.09 per share.

14,055,558 free attaching unlisted options to tranche 1 and tranche 2 were also issued in addition to 10,000,000 unlisted options to nominees of Euroz Hartleys Limited for corporate advisory and lead manager services. The free attaching and broker options are exercisable at $0.12 and expiring on 21 February 2024.

Funds raised from the Placement are for:

Progressing East Sampson Dam gold prospect through Scoping Study, considering early development potential via toll treatment arrangements under investigation;
RC drilling (3,800m) at East Sampson Dam Gold prospect;
AC drilling along strike of the East Sampson Dam gold prospect;
Diamond drilling (600m) and RC drilling (2,500m) at the Burracoppin Gold Project; and
general working capital purposes.

Moho also received $686k as a refundable tax offset for eligible research and development (R&D) expenditure conducted across its prospective projects during the 2019-20 financial year.

The Company has actively progressed R&D programs in conjunction with CSIRO, Curtin University and external consultants as part of its overall exploration strategy to improve and refine its mineral discovery processes.

Moho Resources Limited Director’s report

COMPLIANCE STATEMENT

With reference to previously reported Exploration results and mineral resources, the company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources or Ore Reserves that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

FORWARD LOOKING STATEMENTS

This report is provided on the basis that neither the Company nor its representatives make any warranty (express or implied) as to the accuracy, reliability, relevance or completeness of the material contained in the report and nothing contained in the report is, or may be relied upon as a promise, representation or warranty, whether as to the past or future. The Company hereby excludes all warranties that can be excluded by law. The report contains material which is predictive in nature and may be affected by inaccurate assumptions or by unknown risks and certainties, and may differ materially from results ultimately achieved.

The Report contains “forward looking statements”. All Statements other than those of historical facts included in the Report are forward- looking statements including estimates of Minerals Resources. However, forwardlooking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied, by such forward-looking statements. Such risks include, but are not limited to, gold, nickel and other metals price volatility, currency fluctuations, increased production costs and variances in ore grade recovery rates from those assumed in mining plans, as well as political and operational risks and governmental regulation and judicial outcomes. The Company does not undertake any obligation to release publicly any revisions to any “forward-looking statement” to reflect events the date of the Report, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. All persons should consider seeking appropriate professional advice in reviewing the report and all other information in respect to the Company and evaluating the business, financial performance and operations of the Company. Neither the provision of the Report nor the information contained in the Report or Subsequently communicated to any person in connection with the Report is, or should be taken as, constituting the giving of investment advice to any person.

Moho Resources Limited Director’s report

Significant changes in the state of affairs

There were no significant changes in the state of affairs of the Company during the financial year.

Subsequent events

There has not been any other matter or circumstance occurring subsequent to the end of the financial year that has significantly affected, or may significantly affect, the operations of the Company, the results of those operations or the state of affairs of the Company in future financial years.

Likely developments

Likely developments in the operations of the Company and the expected results of those operations in future financial years have not been included in this report as the inclusion of such information is likely to result in unreasonable prejudice to the Company.

Environmental regulations

The operations and proposed activities of the Company are subject to State and Federal laws and regulations concerning the environment. As with most exploration projects and mining operations, the Company’s activities are expected to have an impact on the environment, particularly if advanced exploration or field development proceeds. It is the Company’s intention to conduct its activities to the highest standard of environmental obligation, including compliance with all environmental laws. In this regard, the Department of Minerals and Petroleum of Western Australia from time to time, review the environmental bonds that are placed on permits. The Directors are not in a position to state whether a review is imminent or whether the outcome of such a review would be detrimental to the funding needs of the Company.

Dividends

No dividends have been paid by the Company during the financial year ended 30 June 2021, nor have the Directors recommended any dividend to be paid.

Unissued shares under option

Unissued ordinary shares of the Company under option at the date of this report are:

Type	Expiry date	Exercise price of shares ($)	Number under option
Listed	9 July 2023	$0.25	30,670,240
Unlisted	17 July 2023	$0.25	3,000,000
Unlisted	17 July 2023	$0.35	2,100,000
Unlisted	17 July 2023	$0.50	2,100,000
Unlisted	29 October 2023	$0.25	1,000,000
Unlisted	13 August 2022	$0.19	3,550,000
Unlisted	13 August 2023	$0.20	3,750,000
Unlisted	13 August 2024	$0.21	3,950,000
Unlisted	21 February 2024	$0.12	24,055,558
			74,175,798

These options do not entitle the holder to participate in any share issue of the Company.

No shares were issued during or since the end of the financial year as a result of the exercise of an option over unissued shares or interests.

Indemnification of officers and auditors

During or since the end of the financial year, the Company has not indemnified or made a relevant agreement to indemnify an officer or auditor of the Company or of any related body corporate against a liability incurred as such an officer or auditor. In addition, the Company has not paid, or agreed to pay, a premium in respect of a contract insuring against a liability incurred by an officer or auditor.

Moho Resources Limited Director’s report

Directors’ meetings

The number of meetings of Directors held during the year and the number of meetings attended by each Director is as follows:

is as follows:
Board Member	Entitled to Attend	Number Attended
Terry Streeter	3	3
Shane Sadlier	3	3
Ralph Winter	3	3
Adrian Larking	3	3

Proceedings on behalf of the Company

No person has applied for leave of court to bring proceedings on behalf of the Company or 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 any part of those proceedings. The Company was not a party to any such proceedings during the financial year.

Officers of the Company who are former partners of RSM Australia Partners

There are no officers of the Company who are former partners of RSM Australia Partners.

Non-audit services

The following amounts were paid to the auditors of the Company, RSM Australia Partners, for non-audit services provided during the year:

rovided during the year:
	2021	2020
	$	$
Non-audit services:
Taxation services	8,950	10,000

The directors are of the opinion that the services as disclosed above do not compromise the external auditor's independence requirements of the Corporations Act 2001 for the following reasons:

all non-audit services have been reviewed and approved to ensure that they do not impact the integrity and objectivity of the auditor; and
none of the services undermine the general principles relating to auditor independence as set out in APES 110 Code of Ethics for Professional Accountants issued by the Accounting Professional and Ethical Standards Board, including reviewing or auditing the auditor's own work, acting in a management or decision-making capacity for the company, acting as advocate for the company or jointly sharing economic risks and rewards.

Auditor’s independence declaration

The auditor’s independence declaration as required under s 307C of the Corporations Act 2001 is included within the annual report.

This Directors’ report is signed in accordance with a resolution of the Directors made pursuant to s.298(2)(a) of the Corporations Act 2001.

On behalf of the Directors

==> picture [70 x 49] intentionally omitted <==

Shane Sadleir Managing Director 30 September 2021

==> picture [117 x 5] intentionally omitted <==

==> picture [117 x 4] intentionally omitted <==

==> picture [117 x 5] intentionally omitted <==

==> picture [117 x 4] intentionally omitted <==

==> picture [117 x 5] intentionally omitted <==

RSM Australia Partners

Level 32, Exchange Tower 2 The Esplanade Perth WA 6000 GPO Box R1253 Perth WA 6844

T +61 (0) 8 9261 9100 F +61 (0) 8 9261 9111

www.rsm.com.au

AUDITOR’S INDEPENDENCE DECLARATION

As lead auditor for the audit of the financial report of Moho Resources Limited for the year ended 30 June 2021, 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 audit; and
(ii) any applicable code of professional conduct in relation to the audit.

==> picture [74 x 37] intentionally omitted <==

RSM AUSTRALIA PARTNERS

Perth, WA Dated: 30 September 2021

==> picture [101 x 46] intentionally omitted <==

TUTU PHONG Partner

THE POWER OF BEING UNDERSTOOD AUDIT | TAX | CONSULTING

RSM Australia Partners is a member of the RSM network and trades as RSM. RSM is the trading name used by the members of the RSM network. Each member of the RSM network is an independent accounting and consulting firm which practices in its own right. The RSM network is not itself a separate legal entity in any jurisdiction.

RSM Australia Partners ABN 36 965 185 036

Liability limited by a scheme approved under Professional Standards Legislation

==> picture [117 x 5] intentionally omitted <==

==> picture [117 x 4] intentionally omitted <==

==> picture [117 x 5] intentionally omitted <==

==> picture [117 x 4] intentionally omitted <==

==> picture [117 x 5] intentionally omitted <==

RSM Australia Partners

Level 32, Exchange Tower 2 The Esplanade Perth WA 6000 GPO Box R1253 Perth WA 6844

T +61 (0) 8 9261 9100 F +61 (0) 8 9261 9111

www.rsm.com.au

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF MOHO RESOURCES LIMITED

Opinion

We have audited the financial report of Moho Resources Limited (the Company), which comprises the statement of financial position as at 30 June 2021, the statement of profit or loss and other comprehensive income, the statement of changes in equity and the statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies, and the directors' declaration.

In our opinion, the accompanying financial report of the Company is in accordance with the Corporations Act 2001, including:

(i) giving a true and fair view of the Company's financial position as at 30 June 2021 and of its financial performance for the year then ended; and
(ii) 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 Company in accordance with the auditor independence requirements of the Corporations Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Board's APES 110 Code of Ethics for Professional Accountants (the Code) that are relevant to our audit of the financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code.

We confirm that the independence declaration required by the Corporations Act 2001, which has been given to the directors of the Company, would be in the same terms if given to the directors as at the time of this auditor's report.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Material Uncertainty Related to Going Concern

We draw attention to Note 4, which indicates that the Company incurred a loss of $1,989,207 and had net cash outflows from operating and investing activities of $930,867 and $2,319,672 for the year ended 30 June 2021. As stated in Note 4, these events or conditions, along with other matters as set forth in Note 1, indicate that a material uncertainty exists that may cast significant doubt on the Company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.

THE POWER OF BEING UNDERSTOOD AUDIT | TAX | CONSULTING

Liability limited by a scheme approved under Professional Standards Legislation

==> picture [117 x 5] intentionally omitted <==

==> picture [117 x 4] intentionally omitted <==

==> picture [117 x 5] intentionally omitted <==

==> picture [117 x 4] intentionally omitted <==

==> picture [117 x 5] intentionally omitted <==

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 this matter

Exploration and Evaluation Expenditure – Refer to Note 12

As at the reporting date, the Company has Our audit procedures included: capitalised exploration and evaluation expenditure of $6,422,933 as at the reporting date. 

$6,422,933 as at the reporting date.  Ensuring that the right to tenure of each area of interest is current;
We considered this to be a key audit matter due to  Agreeing a sample of additions to supporting the significant management judgments involved in documentation and ensuring the amounts are assessing the carrying value of the assets including: capital in nature and relate to the area of interest;  Assessing and evaluating management’s
Determining whether the expenditure can be assessment of whether indicators of impairment associated with finding specific mineral existed as at 30 June 2021; resources, and the basis on which that  Assessing management’s determination that expenditure is allocated to an area of interest; exploration and evaluation activities have not yet
Determining whether exploration activities have reached a stage where the existence or otherwise reached a stage at which the existence of an of economically recoverable reserves may be economically recoverable reserves may be reasonably determined; and determined; and  Enquiring with management and reviewing
Assessing whether any indicators of impairment budgets and other supporting documentation as are present and if so, judgement applied to evidence that active and significant operations in, determine and quantity any impairment loss. or relation to, the area of interest will be continued in the future.

Other Information

The directors are responsible for the other information. The other information comprises the information included in the Company's annual report for the year ended 30 June 2021, but does not include the financial report and the auditor's report thereon.

Our opinion on the financial report does not cover the other information and accordingly 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.

==> picture [117 x 5] intentionally omitted <==

==> picture [117 x 4] intentionally omitted <==

==> picture [117 x 5] intentionally omitted <==

==> picture [117 x 4] intentionally omitted <==

==> picture [117 x 5] intentionally omitted <==

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 ability of the Company 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 Company 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: https://www.auasb.gov.au/auditors_responsibilities/ar2.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 the directors’ report for the year ended 30 June 2021.

In our opinion, the Remuneration Report of Moho Resources Limited, for the year ended 30 June 2021, complies with section 300A of the Corporations Act 2001.

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.

==> picture [73 x 37] intentionally omitted <==

Perth, WA Dated: 30 September 2021

RSM AUSTRALIA PARTNERS

==> picture [101 x 46] intentionally omitted <==

TUTU PHONG Partner

Moho Resources Limited Directors’ declaration

In the opinion of the Directors of Moho Resources Limited:

(a) the attached financial statements and notes comply with the Corporations Act 2001, the Accounting Standards, the Corporations Regulations 2001 and other mandatory professional reporting requirements;
(b) the attached financial statements and notes comply with International Financial Reporting Standards as issued by the International Accounting Standards Board as described in note 2 to the financial statements;
(c) the attached financial statements and notes give a true and fair view of the Company’s financial position as at 30 June 2021 and of its performance for the financial year ended on that date; and
(d) there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable.

The Directors have been given the declarations required by section 295A of the Corporations Act 2001.

Signed in accordance with a resolution of Directors made pursuant to section 295(5)(a) of the Corporations Act 2001.

On behalf of the Directors

==> picture [70 x 48] intentionally omitted <==

Shane Sadleir Managing Director 30 September 2021

Moho Resources Limited

Statement of profit or loss and other comprehensive income For the financial year ended 30 June 2021

Note Other Income 6 Continuing operations Corporate advisory and consulting fees Compliance and regulatory expense Depreciation expense Directors and employee benefits expense Pre-acquisition exploration and evaluation expenditure Impairment of exploration and evaluation expenditure 12 Marketing expense Finance costs Share-based payment expense 17 Other expenses Loss before income tax Income tax expense 7 Loss for the year from continuing operations Other comprehensive income Other comprehensive income for the year, net of tax Total comprehensive loss for the year attributable to the owners of Moho Resources Limited Loss per share: Basic and diluted (cents per share) 8	30 June 2021 $ 30 June 2020 $
	- 238,409
	(104,967) (121,034) (216,153) (209,215) (41,001) (42,424) (284,501) (316,376) (156,349) (103,099) - (435,060) (132,759) (103,070) (881) (1,961) (859,470) (103,926) (193,126) (154,449)
	(1,989,207) (1,352,205) - -
	(1,989,207) (1,352,205)
	- -
	(1,989,207) (1,352,205)
	(2.32) (2.76)

The above statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes.

Moho Resources Limited

Statement of financial position As at 30 June 2021

Note Current assets Cash and cash equivalents 9(a) Trade and other receivables 10 Total current assets Non-current assets Plant and equipment 11 Exploration and evaluation expenditure 12 Right-of-use asset 15(a) Total non-current assets Total assets Current liabilities Trade and other payables 13 Lease liabilities 15(b) Provisions 14 Total current liabilities Total liabilities Net assets Equity Issued capital 16 Reserves 17 Accumulated losses Total equity	30 June 2021 $ 30 June 2020 $
	900,514 754,398 118,001 87,764
	1,018,515 842,162
	23,084 35,986 6,422,933 4,043,165 153,774 18,207
	6,599,791 4,097,358
	7,618,306 4,939,520
	514,871 597,052 159,851 18,978 81,475 95,546
	756,197 711,576
	756,197 711,576
	6,862,109 4,227,944
	10,261,495 7,080,618 2,327,238 884,743 (5,726,624) (3,737,417)
	6,862,109 4,227,944

The above statement of financial position should be read in conjunction with the accompanying notes.

Moho Resources Limited

Statement of changes in equity For the financial year ended 30 June 2021

	Issued capital $ Share based payment reserve $ Share premium reserve $	Accumulated losses $	Total $
Balance as at 1 July 2019	5,992,362 710,007 70,810 - - -	(2,385,212) (1,352,205)	4,387,967 (1,352,205)
Loss for theyear
*Total comprehensive loss for the* *year*	- - -	(1,352,205)	(1,352,205)
Issue of shares	1,192,178 - - (103,922) - - 103,926 -	- - -	1,192,178 (103,922) 103,926
Share issue costs
Share-basedpayment options
Balance as at 30 June 2020	7,080,618 813,933 70,810	(3,737,417)	4,227,944

Balance as at 1 July 2020	7,080,618 813,933 70,810	(3,737,417)	4,227,944
Loss for theyear	- - -	(1,989,207)	(1,989,207)
*Total comprehensive loss for the* *year*	- - -	(1,989,207)	(1,989,207)
Issue of shares	3,990,604 - -	-	3,990,604
Share issue costs	(809,727) - -	-	(809,727)
Share-basedpayment options	- 1,442,495 -	-	1,442,495
Balance as at 30 June 2021	10,261,495 2,256,428 70,810	(5,726,624)	6,862,109

The above statement of changes in equity should be read in conjunction with the accompanying notes.

Moho Resources Limited

Statement of cash flows For the financial year ended 30 June 2021

Note Cash flows from operating activities Payments to suppliers and employees Interest and other finance costs paid Net cash used in operating activities 9(b) Cash flows from investing activities Payments for purchase of fixed assets Payments for exploration expenditure Payments for acquisition of exploration interests Payments for acquisition of equity investments Proceeds from disposal of equity investments Receipts from R&D tax grants (net of costs) Net cash used in investing activities Cash flows from financing activities Proceeds from issue of shares Payments of capital raising costs Lease repayments Net cash provided by financing activities Net increase / (decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year 9(a)	30 June 2021 $ 30 June 2020 $
	(929,986) (888,570) (881) (1,961)
	(930,867) (890,531)
	(4,589) (4,629) (2,738,136) (2,466,889) (150,000) - - (500,000) - 738,409 573,053 1,088,459
	(2,319,672) (1,144,650)
	3,642,995 1,179,678 (228,136) (60,417) (18,204) (26,539)
	3,396,655 1,092,722
	146,116 (942,459) 754,398 1,696,857
	900,514 754,398

The above statement of cash flows should be read in conjunction with the accompanying notes.

Moho Resources Limited

Notes to the financial statements For the year ended 30 June 2021

1. Nature of operations

Moho Resources Limited’s (“Moho” or “the Company”) principal activities are disclosed in the Directors’ report.

2. General information and statement of compliance

These general purpose financial statements of the Company 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 Company is a for-profit entity for the purpose of preparing the financial statements.

Moho Resources Limited is a listed public company incorporated and domiciled in Australia. The addresses of the Company’s registered office and principal place of business are disclosed in the corporate directory.

The financial statements for the year ended 30 June 2021 were approved and authorised for issue by the Board of Directors on 30 September 2021.

3. Application of new or amended Accounting Standards and Interpretations

3.1. New or amended Accounting Standards and Interpretations adopted

The Company 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.

The following Accounting Standards and Interpretations are most relevant to the Company:

Conceptual Framework for Financial Reporting (Conceptual Framework)

The Company has adopted the revised Conceptual Framework from 1 July 2020. The Conceptual Framework contains new definition and recognition criteria as well as new guidance on measurement that affects several Accounting Standards, but it has not had a material impact on the Company’s financial statements.

3.2. Accounting Standards issued but not yet effective and not been adopted early by the Company

Australian Accounting Standards and Interpretations that have recently been issued or amended but are not yet mandatory, have not been early adopted by the Company for the annual reporting period ended 30 June 2021. The Company has not yet assessed the impact of these new or amended Accounting Standards and Interpretations.

Moho Resources Limited

4. Significant accounting policies

The principal accounting policies adopted in the preparation of the financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Basis of preparation

Historical costs convention

The financial report has been prepared on an accruals basis and is based on the historical costs modified, where applicable by the measurement at fair value of selected non-current assets, financial assets and financial liabilities.

Critical accounting estimates

The preparation of the financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Company's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in Note 5. The financial statements are presented in Australian dollars, which is the Company’s functional and presentation currency.

Going Concern

The financial statements have been prepared on the going concern basis, which contemplates continuity of normal business activities and the realisation of assets and discharge of liabilities in the normal course of business.

As disclosed in the financial statements, the Company incurred a loss of $1,989,207 and had net cash outflows from operating activities and investing activities of $930,867 and $2,319,672 respectively for the year ended 30 June 2021.

The Directors believe that there are reasonable grounds to believe that the Company will be able to continue as a going concern, after consideration of the following factors:

The Company is able to raise additional funds through equity capital raising and has a history of being successful in raising capital, as and when required; and
The Company is due to lodge its R&D refund application shortly and based on previous years refunds received believes that it will once again be entitled to an R&D refund within Q4 2021, and
The Company has the ability to scale back certain parts of their activities to conserve cash.

Should the Directors not be able to achieve the matters set out above, there is significant uncertainty as to whether the Company will be able to continue as a going concern and therefore whether it will be able to pay its debts as and when they fall due and realise its assets and extinguish its liabilities in the normal course of business and at the amounts stated in the financial statements.

The financial statements do not include any adjustment relating to the recoverability and classification of recorded asset amounts, nor the amounts or classification of liabilities that might be necessary should the Company not be able to continue as a going concern.

Moho Resources Limited

4. Significant accounting policies (continued)

Plant and equipment

IT equipment and other equipment (comprising fittings and furniture) are initially recognised at acquisition 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 Company’s management.

Depreciation is recognised on a straight-line basis to write down the cost less estimated residual value. The depreciation rates used for each class of depreciable assets are:

Class of Fixed Asset Depreciation Rate Plant and equipment 10% - 40%

The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount.

Gains and losses on disposals are determined by comparing proceeds with the carrying amount. These gains and losses are included in profit or loss. When re-valued assets are sold, amounts included in the revaluation surplus relating to that asset are transferred to retained earnings.

Revenue recognition

The Company recognises revenue as follows:

Interest

Interest revenue is recognised as interest accrues using the effective interest method.

Other revenue

Other revenue is recognised when it is received or when the right to receive payment is established.

Current and non-current classification

Assets and liabilities are presented in the statement of financial position based on current and non-current classification.

An asset is classified as current when: it is either expected to be realised or intended to be sold or consumed in the Company's normal operating cycle; it is held primarily for the purpose of trading; it is expected to be realised within 12 months after the reporting period; or the asset is cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least 12 months after the reporting period. All other assets are classified as non-current.

A liability is classified as current when: it is either expected to be settled in the Company's normal operating cycle; it is held primarily for the purpose of trading; it is due to be settled within 12 months after the reporting period; or there is no unconditional right to defer the settlement of the liability for at least 12 months after the reporting period. All other liabilities are classified as non-current.

Moho Resources Limited

4. Significant accounting policies (continued)

Exploration, evaluation and development expenditure

Exploration and evaluation activity involves the search for mineral resources, the determination of technical feasibility and the assessment of commercial viability of an identified area of interest. Exploration and evaluation expenditure is measured at cost.

Exploration and evaluation expenditure related to each identifiable area of interest are recognised as an exploration and evaluation asset in the year in which they are incurred. These costs are only carried forward to the extent that the following conditions are satisfied:

i) rights to tenure of the identifiable area of interest are current; and ii) at least one of the following conditions is also met:
a) the expenditure is expected to be recouped through the successful development of the identifiable area of interest, or alternatively, by its sale; or
b) where activities in the identifiable area of interest have not at the reporting date reached a stage that permits a reasonable assessment of the existence or otherwise of economically recoverable reserves and activities in, or in relation to, the area of interest.

A regular review is undertaken of each area of interest to determine the appropriateness of continuing to carry forward costs in relation to that area of interest. Accumulated costs in relation to an abandoned area are written off in full to profit or loss in the year in which the decision to abandon the area is made.

Exploration and evaluation assets are reviewed at each reporting date for indicators of impairment and tested for impairment where such indicators exist. If the test indicates that the carrying value might not be recoverable the asset is written down to its recoverable amount. Any such impairment arising is recognised in profit or loss.

Where an impairment loss subsequently reversed, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but only to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in previous years.

Once the technical feasibility and commercial viability of the extraction mineral resource 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 development expenditure.

Once a mining project has been established as commercially viable and technically feasible, expenditure other than that on land, buildings, plant and equipment is capitalised as development expenditure. Development expenditure includes previously capitalised exploration and evaluation costs, pre-production development costs, development studies and other subsurface expenditure pertaining to that area of interest. Costs related to surface plant and equipment and any associated land and buildings are accounted for as property, plant and equipment.

Government grants

Government grants are recognised at fair value when there is reasonable assurance that the conditions attaching to them will be complied with and that the grants will be received. Grants in recognition of specific expenses are recognised in profit or loss on a systematic basis over the periods necessary to match them with the related costs that they are intended to compensate. The grant related to assets is deducted in calculating the carrying amount of the asset and therefore the grant is recognised in profit or loss over the life of a depreciable asset as a reduced depreciation expense.

Moho Resources Limited

4. Significant accounting policies (continued)

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, associates or joint ventures, 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.

Where temporary differences exist in relation to investments in subsidiaries, branches, associates and joint ventures, deferred tax assets and liabilities are not recognised where the timing of the reversal of the temporary difference can be controlled and it is not probable that the reversal will occur in the foreseeable future. Current tax assets and liabilities are offset where a legally enforceable right of set-off exists and it is intended that net settlement or simultaneous realisation and settlement of the respective asset and liability will occur. Deferred tax assets and liabilities are offset where: (a) a legally enforceable right of set-off exists; and (b) the deferred tax assets and liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities, where it is intended that net settlement or simultaneous realisation and settlement of the respective asset and liability will occur in future periods in which significant amounts of deferred tax assets or liabilities are expected to be recovered or settled.

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.

Investments and other financial assets

Investments and other financial assets are initially measured at fair value. Transaction costs are included as part of the initial measurement, except for financial assets at fair value through profit or loss. Such assets are subsequently measured at either amortised cost or fair value depending on their classification. Classification is determined based on both the business model within which such assets are held and the contractual cash flow characteristics of the financial asset unless, an accounting mismatch is being avoided.

Financial assets are derecognised when the rights to receive cash flows have expired or have been transferred and the Company has transferred substantially all the risks and rewards of ownership. When there is no reasonable expectation of recovering part or all of a financial asset, it's carrying value is written off.

Moho Resources Limited

4. Significant accounting policies (continued)

Financial assets at fair value through profit or loss

Financial assets not measured at amortised cost or at fair value through other comprehensive income are classified as financial assets at fair value through profit or loss. Typically, such financial assets will be either: (i) held for trading, where they are acquired for the purpose of selling in the short-term with an intention of making a profit, or a derivative; or (ii) designated as such upon initial recognition where permitted. Fair value movements are recognised in profit or loss.

Financial assets at fair value through other comprehensive income

Financial assets at fair value through other comprehensive income include equity investments which the Company intends to hold for the foreseeable future and has irrevocably elected to classify them as such upon initial recognition.

Impairment of financial assets

The Company recognises a loss allowance for expected credit losses on financial assets which are either measured at amortised cost or fair value through other comprehensive income. The measurement of the loss allowance depends upon the Company’s assessment at the end of each reporting period as to whether the financial instrument's credit risk has increased significantly since initial recognition, based on reasonable and supportable information that is available, without undue cost or effort to obtain.

Where there has not been a significant increase in exposure to credit risk since initial recognition, a 12-month expected credit loss allowance is estimated. This represents a portion of the asset's lifetime expected credit losses that is attributable to a default event that is possible within the next 12 months. Where a financial asset has become credit impaired or where it is determined that credit risk has increased significantly, the loss allowance is based on the asset's lifetime expected credit losses. The amount of expected credit loss recognised is measured on the basis of the probability weighted present value of anticipated cash shortfalls over the life of the instrument discounted at the original effective interest rate.

For financial assets measured at fair value through other comprehensive income, the loss allowance is recognised within other comprehensive income. In all other cases, the loss allowance is recognised in profit or loss.

Goods and services tax

Revenues, expenses and assets are recognised net of the amount of associated GST, unless the GST incurred is not recoverable from the tax authority. In this case it is recognised as part of the cost of the acquisition of the asset or as part of the expense.

Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount of GST recoverable from, or payable to, the tax authority is included in other receivables or other payables in the statement of financial position.

Cash flows are presented on a gross basis. The GST components of cash flows arising from investing or financing activities which are recoverable from, or payable to the tax authority, are presented as operating cash flows.

Commitments and contingencies are disclosed net of the amount of GST recoverable from, or payable to, the tax authority.

Moho Resources Limited

4. Significant accounting policies (continued)

Provisions, contingent liabilities and contingent assets

Provisions for product warranties, legal disputes, onerous contracts or other claims are recognised when the Company has a present legal or constructive obligation as a result of a past event, it is probable that an outflow of economic resources will be required from the Company and amounts can be estimated reliably. Timing or amount of the outflow may still be uncertain.

Restructuring provisions are recognised only if a detailed formal plan for the restructuring has been developed and implemented, or management has at least announced the plan’s main features to those affected by it. Provisions are not recognised for future operating losses.

Provisions are measured at the estimated expenditure required to settle the present obligation, based on the most reliable evidence available at the reporting date, including the risks and uncertainties associated with the present obligation. Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. Provisions are discounted to their present values, where the time value of money is material.

Any reimbursement that the Company can be virtually certain to collect from a third party with respect to the obligation is recognised as a separate asset. However, this asset may not exceed the amount of the related provision.

In those cases where the possible outflow of economic resources as a result of present obligations is considered improbable or remote, no liability is recognised.

Post-employment benefits and short-term employee benefits

(i) Short-term obligations

Liabilities for wages and salaries, including non-monetary benefits, annual leave and accumulating sick leave expected to be settled within 12 months after the end of the period in which the employees render the related service are recognised in respect of employees' services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liability for annual leave and accumulating sick leave is recognised in the provision for employee benefits. All other short-term employee benefit obligations are presented as payables.

Moho Resources Limited

4. Significant accounting policies (continued)

(ii) Long service leave

The liability for long service leave is recognised in the provision for employee benefits and measured as the present value of expected future payments to be made in respect of services provided by employees up to the end of the reporting period using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the end of the reporting period on national government bonds with terms to maturity and currency that match, as closely as possible, the estimated future cash outflows.

Operating expenses

Operating expenses are recognised in the statement of profit and loss and other comprehensive income upon utilisation of the service or at date of their origin.

Fair value measurement

When an asset or liability, financial or non-financial, is measured at fair value for recognition or disclosure purposes, the fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date; and assumes that the transaction will take place either: in the principal market; or in the absence of a principal market, in the most advantageous market.

Fair value is measured using the assumptions that market participants would use when pricing the asset or liability, assuming they act in their economic best interests. For non-financial assets, the fair value measurement is based on its highest and best use. Valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, are used, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.

Assets and liabilities measured at fair value are classified into three levels, using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. Classifications are reviewed at each reporting date and transfers between levels are determined based on a reassessment of the lowest level of input that is significant to the fair value measurement.

For recurring and non-recurring fair value measurements, external valuers may be used when internal expertise is either not available or when the valuation is deemed to be significant. External valuers are selected based on market knowledge and reputation. Where there is a significant change in fair value of an asset or liability from one period to another, an analysis is undertaken, which includes a verification of the major inputs applied in the latest valuation and a comparison, where applicable, with external sources of data.

Finance costs

Finance costs attributable to qualifying assets are capitalised as part of the asset. All other finance costs are expensed in the period in which they are incurred.

Trade and other payables

Trade and other payables represent the liability outstanding at the end of the reporting period for goods and services received by the Company during the reporting period, which remain unpaid. The balance is recognised as a current liability with the amounts normally paid within 30 days of recognition of the liability.

Moho Resources Limited

4. Significant accounting policies (continued)

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 Company'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. The variable lease payments that do not depend on an index or a rate are expensed in the period in which they are incurred.

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.

Issued capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Dividends

Dividends are recognised when declared during the financial year and no longer at the discretion of the company.

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 Company 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 Company 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.

Moho Resources Limited

4. Significant accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other shortterm, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. For the statement of cash flows presentation purposes, cash and cash equivalents also includes bank overdrafts, which are shown within borrowings in current liabilities on the statement of financial position.

Trade and other receivables

Trade receivables are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less any provision for impairment. Trade receivables are generally due for settlement within 30 days.

The Company has applied the simplified approach to measuring expected credit losses, which uses a lifetime expected loss allowance. To measure the expected credit losses, trade receivables have been grouped based on days overdue.

Earnings per share

i) Basic earnings per share Basic earnings per share is calculated by dividing:

the profit attributable to owners of the company, excluding any costs of servicing equity other than ordinary shares; and
by the weighted average number of ordinary shares outstanding during the financial year.

ii) Diluted earnings per share

Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account:

the after income tax effect of interest and other financing costs associated with dilutive potential ordinary shares, and
the weighted average number of additional ordinary shares that would have been outstanding assuming the conversion of all dilutive potential ordinary shares.

Borrowings

Loans and borrowings are initially recognised at the fair value of the consideration received, net of transaction costs. They are subsequently measured at amortised cost using the effective interest method.

Moho Resources Limited

4. Significant of accounting policies (continued)

Share-based payments

Equity-settled and cash-settled share-based payments are provided by the Company. Equity-settled transactions are awards of shares, or options over shares, that are provided in exchange for the rendering of services. Cashsettled transactions are awards of cash for the exchange of services, where the amount of cash is determined by reference to the share price.

The cost of equity-settled transactions are measured at fair value on grant date. Fair value is independently determined using an appropriate valuation model taking into account the terms upon which the instruments were granted, together with non-vesting conditions that do not determine whether the company receives the services that entitle the employees to receive payment. No account is taken of any other vesting conditions.

The cost of equity-settled transactions are recognised as an expense with a corresponding increase in equity over the vesting period. The cumulative charge to profit or loss is calculated based on the grant date fair value of the award, the best estimate of the number of awards that are likely to vest and the expired portion of the vesting period. The amount recognised in profit or loss for the period is the cumulative amount calculated at each reporting date less amounts already recognised in previous periods.

The cost of cash-settled transactions is initially, and at each reporting date until vested, determined by using an appropriate valuation model, taking into consideration the terms and conditions on which the award was granted. The cumulative charge to profit or loss until settlement of the liability is calculated as follows:

during the vesting period, the liability at each reporting date is the fair value of the award at that date multiplied by the expired portion of the vesting period.
from the end of the vesting period until settlement of the award, the liability is the full fair value of the liability at the reporting date.

All changes in the liability are recognised in profit or loss. The ultimate cost of cash-settled transactions is the cash paid to settle the liability. Market conditions are taken into consideration in determining fair value. Therefore any awards subject to market conditions are considered to vest irrespective of whether or not that market condition has been met, provided all other conditions are satisfied. If equity-settled awards are modified, as a minimum an expense is recognised as if the modification has not been made. An additional expense is recognised, over the remaining vesting period, for any modification that increases the total fair value of the share-based compensation benefit as at the date of modification.

If the non-vesting condition is within the control of the Company or the recipient of the award, the failure to satisfy the condition is treated as a cancellation. If the condition is not within the control of the company or the recipient of the award and is not satisfied during the vesting period, any remaining expense for the award is recognised over the remaining vesting period, unless the award is forfeited. If equity-settled awards are cancelled, it is treated as if it has vested on the date of cancellation, and any remaining expense is recognised immediately. If a new replacement award is substituted for the cancelled award, the cancelled and new award is treated as if they were a modification.

Comparative amounts

When current period balances have been classified differently within current period disclosures when compared to prior periods, comparative disclosures have been restated to ensure consistency of presentation between periods.

Moho Resources Limited

5. Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts in the financial statements. Management continually evaluates its judgements and estimates in relation to assets, liabilities, contingent liabilities, revenue and expenses. Management bases its judgements, estimates and assumptions on historical experience and on other various factors, including expectations of future events, management believes to be reasonable under the circumstances. The resulting accounting judgements and estimates will seldom equal the related actual results. The judgements, estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities (refer to the respective notes) within the next financial year are discussed below.

Share-based payment transactions

The Company measures the cost of equity-settled transactions by reference to the fair value of the equity instruments at the date at which they are granted. The fair value of the options issued are determined using an appropriate valuation model, using the assumptions detailed in the notes to the financial statements. The assumptions detailed in the note is also judgemental.

For equity transactions with consultants and other employees, the fair value reflects the value attributable to services where applicable. Where there is no quantifiable value of services the value of options is calculated using an appropriate valuation model. For instruments issued with market-based conditions, alternative valuation methodologies would be adopted.

Exploration and evaluation costs

Exploration and evaluation costs have been capitalised and are only carried forward to the extent that they are expected to be recouped through the successful development of the area or where activities in the area have not yet reached a stage that permits reasonable assessment of the existence of economically recoverable reserves. Key judgements are applied in considering the costs to be capitalised which includes determining expenditures directly related to these activities and allocating overheads between those that are expensed and capitalised.

6. Other Income

6. Other Income
Profit on disposal of listed equity investments 7. Income taxes Income tax recognised in loss Current tax Deferred tax Total income tax	2021 $ 2020 $
	- 238,409
	- 238,409

	2021 $ 2020 $
	- - - -
	- -

The income tax expense for the financial year can be reconciled to the accounting loss as follows:

Loss from continuingoperations Income tax benefit calculated at 30% Effect of permanent differences Effect of temporary differences Unused tax losses not brought to account as deferred tax assets	(1,989,207) (1,352,205)
	(596,762) (405,661)
	263,134 31,945
	(940,312) (540,226)
	1,273,940 913,942
	- -

Moho Resources Limited

7. Income taxes (continued)

Unrecognised deferred tax assets/(liabilities) Carry forward tax losses not recognised	2021 $ 2020 $ 7,558,504 3,312,038

Potential deferred tax assets attributable to tax losses and other temporary differences have not been brought to account at 30 June 2021 because the directors do not believe it is appropriate to regard realisation of the deferred tax assets as probable at this point in time. These benefits will only be obtained if:

the Company derives future assessable income of a nature and of an amount sufficient to enable the benefit from the deductions for the expenditure to be realised; and
no changes in tax legislation adversely affect the Company in realising the benefit from the deductions for the expenditure.

8. Loss per share

8. Loss per share
Basic and diluted loss per share	2021 Centsper share 2020 Centsper share
	(2.32) (2.76)

Basic and diluted loss per share

The loss and weighted average number of ordinary shares used in the calculation of basic and diluted loss per share are as follows:

Loss for theyear attributable to owners of the Company Weighted average number of shares for the purposes of basic and diluted loss per share	(1,989,207) (1,352,205)

	No. No.
	85,991,451 49,012,554

Moho Resources Limited

9. Cash and cash equivalents

For the purposes of the statement of cash flows, cash and cash equivalents include cash on hand and in banks, net of outstanding bank overdrafts. Cash and cash equivalents at the end of the reporting year as shown in the statement of cash flows can be reconciled to the related items in the statement of financial position as follows:

	2021 $ 2020 $
(a) Reconciliation of cash
Cash and bank balances	900,514 754,398
Cash and cash equivalents in the statement of financial position	900,514 754,398
(b) Reconciliation of loss for the year to net cash flows from operating activities Loss for the year after income tax (1,989,207) (1,352,205)
Adjustments for:
Depreciation	41,001 42,424
Gain on disposal of investments	- (238,409)
Share-based payments expense	859,470 103,926
Impairment and pre-acquisition exploration expenditure	156,349 538,159
Operating loss before changes in working capital	(932,387) (906,105)
Movements in working capital
Trade and other receivables	(44,893) (12,592)
Trade and other payables	60,484 (29,909)
Provisions	(14,071) 58,075
	(930,867) (890,531)
10. Trade and other receivables Prepayments Deposits paid Goods and services tax recoverable	2021 $ 2020 $ 50,473 39,267 16,394 16,394 51,134 32,103 118,001 87,764

All amounts are short-term. The net carrying values are considered a reasonable approximation of fair value. There is no allowance for expected credit losses recognised for the year ended 30 June 2021 (2020: Nil).

Moho Resources Limited

11. Plant and equipment Plant and equipment – at cost Less: accumulated depreciation
	2021 $ 2020 $
	58,566 56,096 (35,482) (20,110)
	23,084 35,986

Reconciliation:

Reconciliation of the written down values at the beginning and end of the current and previous financial year are set out below:

Balance at 1 July 2019 Additions Depreciation expense Balance at 30 June 2020 Additions Depreciation expense Balance 30 June 2021	$
	46,471 4,629 (15,114)
	35,986
	4,589 (17,491)
	23,084

12. Exploration and evaluation expenditure

12. Exploration and evaluation expenditure
	2021 $ 2020 $
Balance at beginning of the year	4,043,165 3,053,249
Tenement acquisition (i)	30,000 412,500
Costs capitalised	2,922,821 2,100,935
Exploration and evaluation R&D tax grant received	(573,053) (1,088,459)
Impairment of cost (ii)	- (435,060)
	6,422,933 4,043,165

(i) During the 2020 financial year the Company entered into a binding heads of agreement to acquire with Odin Metals Limited to acquire the remaining 30% interest in Mining Lease M27/263 for consideration of $120,000 cash, 4,500,000 ordinary shares at a deemed issue price of $0.065 and a net smelter royalty (refer to Note 18). The cash consideration was paid in July 2020 and consideration shares issued on 18 August 2020.
(ii) An impairment expense was recognised in profit or loss for the year ended 30 June 2020 of $435,060 for tenements relinquished during that period. There was no impairment expense for the financial year ended 30 June 2021.

The ultimate recoupment of balances carried forward in relation to areas of interest still in the exploration or valuation phase is dependent on successful development, and commercial exploitation, or alternatively sale of the respective areas. The Company conducts impairment testing when indicators of impairment are present at the reporting date.

Moho Resources Limited

13. Trade and other payables

13. Trade and other payables
Trade creditors Accrued expenses	2021 $ 2020 $
	447,336 123,523
	67,535 473,529
	514,871 597,052

All amounts are short-term. The net carrying values are considered a reasonable approximation of fair value.

14. Provisions

Provisions for annual leave

2021	2020
$	$
81,475	95,546

15. Leases

	2021 $ 2020 $
a) Right-of-use asset
Balance at beginning of the year	18,207 -
Additions	159,077 45,517
Depreciation	(23,510) (27,310)
	153,774 18,207

b) Lease Liabilities

Office lease	159,851 18,978

Moho Resources Limited

16. Issued capital

16. Issued capital	16. Issued capital
103,275,402 (2020: 61,332,015) fully paid ordinary shares Details Date Balance 30 June 2019 Issue of Shares - Placement 7 November 2019 Issue of Shares – Corporate Advisor1 29 November 2019 Issue of Shares - Placement 24 April 2020 Share issue transaction costs Balance 30 June 2020 Issue of Shares – Tenement acquisition2 17 August 2020 Issue of Shares – Lead Manager3 17 August 2020 Issue of Shares – Share Purchase Plan4 8 September 2020 Issue of Shares – Placement 18 December 2020 Issue of Shares – Placement 23 February 2021 Issue of Shares – Share Based Payment5 11 May 2021 Share issue transaction costs
	103,275,402 (2020: 61,332,015) fully paid ordinary shares
		Shares Issue Price 42,484,592 6,372,688 $0.06 208,333 $0.06 12,266,402 $0.065 61,332,015 4,500,000 $0.065 553,021 $0.065 8,561,500 $0.13 18,736,633 $0.09 9,374,483 $0.09 217,750 $0.088
			7,080,618 292,500 35,946 1,112,995 1,686,297 843,703 19,163 (809,727)
Balance 30 June 2021		103,275,402	10,261,495

1 208,333 ordinary shares were issued upon completion of the placement. The total fair value was determined by the issue price multiplied by the number of shares issued. The total fair value was recognised as issued capital during the 2020 financial year.

2 On 18 August 2020 the Company completed the acquisition of the remaining 30% interest in tenement M27/263 through the issue of 4,500,000 ordinary shares at a deemed issue price of $0.065 per share.

3 On 18 August 2020 the Company issued 553,021 ordinary shares at a deemed issue price of $0.065 per share to RM Capital Pty Ltd for lead manager services provided as part of the placement completed in May 2020.

4 On 8 September 2020 the Company completed a Share Purchase Plan through the issue of 8,561,500 ordinary shares at an issue price of $0.13 to raise $1,112,995.

5 217,750 ordinary shares were issued to a supplier in lieu of cash payment for services provided. The total fair value was determined by the issue price multiplied by the number of shares issued.

Ordinary shares

Ordinary shares entitle the holder to participate in dividends and the proceeds on the winding up of the company in proportion to the number of and amounts paid on the shares held. The fully paid ordinary shares have no par value and the company does not have a limited amount of authorised capital. On a show of hands every member present at a meeting in person or by proxy shall have one vote and upon a poll each share shall have one vote.

Moho Resources Limited

17. Reserves

17. Reserves
	2021 $ 2020 $
Share based payment reserve (a)	2,256,428 813,933
Sharepremium reserve(b)	70,810 70,810
	2,327,238 884,743

(a) Share based payment reserve is used to record the fair value of unlisted options issued to employees and suppliers.
(b) Share premium reserve is used to record amounts paid for options.

Share based payment reserve	2021 $ 2020 $
Opening balance	813,933 710,007
Expense for options issued to Directors	845,260 103,926
Expense for options issued to employees	14,210 -
Share issue costs for options issued to Broker	583,025 -
Closing balance	2,256,428 813,933
Reconciliation to share based payment expense
	2021 $ 2020 $
Options issued to employees (refer below)	14,210 -
Options issued to Directors(refer below)	845,260 103,926
Share based payment expense	859,470 103,926

Moho Resources Limited

17. Reserves (continued)

The following options arrangements were in existence at the reporting date:

Grant date Expiry date Exercise Price $ 27 Dec 2017 9 Jul 2023 0.25 9 Jul 2018 9 Jul 2023 0.25 17 Jul 2018 9 Jul 2023 0.25 17 Jul 2018 17 Jul 2023 0.25 17 Jul 2018 17 Jul 2023 0.35 17 Jul 2018 17 Jul 2023 0.50 31 Oct 2018 29 Oct 2023 0.25 31 Oct 2018 29 Oct 2023 0.25 1 April 2019 9 Jul 2023 0.25 4 June 2019 9 Jul 2023 0.25 14 Aug 2020 13 Aug 2022 0.19 14 Aug 2020 13 Aug 2023 0.20 14 Aug 2020 13 Aug 2024 0.21 23 Feb 2021 21 Feb 2024 0.12 18 Jun 2021 13 Aug 2022 0.19 18 Jun 2021 13 Aug 2023 0.20 18 Jun 2021 13 Aug 2024 0.21 21 Jun 2021 9 Jul 2023 0.25	Balance at start of the period Number issued during the period Number exercised during the period Number expired during the period Balance at end of the period Vested at the end of the year 520,000 - - - 520,000 520,000 11,577,588 - - - 11,577,588 11,577,588 1,411,121 - - - 1,411,121 1,411,121 3,000,000 - - - 3,000,000 - 2,100,000 - - - 2,100,000 - 2,100,000 - - - 2,100,000 - 1,000,000 - - - 1,000,000 1,000,000 3,000,000 - - (3,000,000)2 - - 9,659,845 - - - 9,659,845 9,659,845 4,501,686 - - - 4,501,686 4,501,686 - 3,000,000 - - 3,000,000 - - 3,000,000 - - 3,000,000 3,000,000 - 3,000,000 - - 3,000,000 3,000,000 - 24,055,5581 - - 24,055,558 24,055,558 - 550,000 - - 550,000 550,000 - 750,000 - - 750,000 - - 950,000 - - 950,000 - - 3,000,0002 - - 3,000,000 3,000,000
	38,870,240 38,305,558 - (3,000,000) 74,175,798 62,275,798

Grant date
Expiry date
Exercise
Price
$
27 Dec 2017
9 Jul 2023
0.25
9 Jul 2018
9 Jul 2023
0.25
17 Jul 2018
9 Jul 2023
0.25
17 Jul 2018
17 Jul 2023
0.25
17 Jul 2018
17 Jul 2023
0.35
17 Jul 2018
17 Jul 2023
0.50
31 Oct 2018
29 Oct 2023
0.25
31 Oct 2018
29 Oct 2023
0.25
1 April 2019
9 Jul 2023
0.25
4 June 2019
9 Jul 2023
0.25
14 Aug 2020
13 Aug 2022
0.19
14 Aug 2020
13 Aug 2023
0.20
14 Aug 2020
13 Aug 2024
0.21
23 Feb 2021
21 Feb 2024
0.12
18 Jun 2021
13 Aug 2022
0.19
18 Jun 2021
13 Aug 2023
0.20
18 Jun 2021
13 Aug 2024
0.21
21 Jun 2021
9 Jul 2023
0.25

Balance
at
start of the
period
Number
issued
during
the
period
Number
exercised
during the
period
Number
expired
during
the
period
Balance
at
end of the
period
Vested at
the end of
the year
520,000
-
-
-
520,000
520,000
11,577,588
-
-
-
11,577,588
11,577,588
1,411,121
-
-
-
1,411,121
1,411,121
3,000,000
-
-
-
3,000,000
-
2,100,000
-
-
-
2,100,000
-
2,100,000
-
-
-
2,100,000
-
1,000,000
-
-
-
1,000,000
1,000,000
3,000,000
-
-
(3,000,000)2
-
-
9,659,845
-
-
-
9,659,845
9,659,845
4,501,686
-
-
-
4,501,686
4,501,686
-
3,000,000
-
-
3,000,000
-
-
3,000,000
-
-
3,000,000
3,000,000
-
3,000,000
-
-
3,000,000
3,000,000
-
24,055,5581
-
-
24,055,558
24,055,558
-
550,000
-
-
550,000
550,000
-
750,000
-
-
750,000
-
-
950,000
-
-
950,000
-
-
3,000,0002
-
-
3,000,000
3,000,000

38,870,240
38,305,558
-
(3,000,000)
74,175,798
62,275,798

1 14,055,558 of these options were free attaching options to participants in the Placement of 18 December 2020 and 23 February 2021.

2 On 21 June 2021 3,000,000 options were cancelled as they were originally issued with the incorrect expiry date and 3,000,000 options were re-issued with the correct expiry date. The 3,000,000 options re-issued were valued with reference to the quoted market value of the options issued.

There has been no alteration of the terms and conditions of the above options arrangements since the grant date. The fair value of the following unquoted options issued during the 2021 financial year was determined using with the following inputs:

using with the following inputs:
Grant date Expiry date Share price at grant date $ Exercise price $ Expected volatility % Dividend yield % Risk-free rate % 14 Aug 2020 13 Aug 2022 0.13 0.19 120 - 2.17 14 Aug 2020 13 Aug 2023 0.13 0.20 120 - 2.17 14 Aug 2020 13 Aug 2024 0.13 0.21 120 - 2.17 15 Feb 2021 21 Feb 2024 0.08 0.12 120 - 2.17 18 Jun 2021 13 Aug 2023 0.069 0.19 120 - 0.80 18 Jun 2021 13 Aug 2023 0.069 0.20 120 - 0.80 18 Jun 2021 13 Aug 2023 0.069 0.21 120 - 0.80	Number options # Value option $ 3,000,000 0.0696 3,000,000 0.0837 3,000,000 0.0939 10,000,000 0.0520 550,000 0.0163 750,000 0.0285 950,000 0.0373 21,250,000	Total value $ 208,777 251,205 281,637 520,025 8,938 21,363 35,409
		1,390,354

Moho Resources Limited

18. Contingent liabilities and contingent assets-

During the financial year the Company entered into Option Agreements to acquire a total of 7 tenements at the Silver Swan North project in WA. Under the terms of the Agreements the Company is required to pay a total of $130,000 to exercise the option and acquire the tenements within 2 years of entering into the Option Agreements.

During the 2020 financial year the Company signed a binding Heads of Agreement with Odin Metals Limited to acquire the remaining 30% interest in Mining Lease M27/263. As part of the acquisition Moho agreed to grant Odin a net smelter royalty of 0.5% on minerals, mineral products and concentrates, produced and sold from the tenement.

In the opinion of the Directors, there are no other contingent liabilities or contingent assets as at 30 June 2021 (2020: Nil) and none were incurred in the interval between the year-end and the date of this financial report.

Moho Resources Limited

19. Financial instruments

Financial risk management objectives

In common with all other businesses, the Company is exposed to risks that arise from its use of financial instruments. This note describes the Company’s objectives, policies and processes for managing those risks and the methods used to measure them. Further quantitative information in respect of those risks is presented throughout these financial statements.

The Board has overall responsibility for the determination of the Company’s risk management objectives and policies and, whilst retaining ultimate responsibility for them, it has delegated the authority for designing and operating processes that ensure the effective implementation of the objectives and policies to the Company’s finance function. The Company’s risk management policies and objectives are therefore designed to minimise the potential impacts of these risks on the Company where such impacts may be material. The Board receives monthly financial reports through which it reviews the effectiveness of the processes put in place and the appropriateness of the objectives and policies it sets. The overall objective of the Board is to set policies that seek to reduce risk as far as possible without unduly affecting the Company’s competitiveness and flexibility. The main risks the Company is exposed to through its financial instruments are liquidity risk and market risk relating to interest rate risk.

Capital management

The Company manages its capital to ensure that the Company will be able to continue as a going concern while maximising the return to stakeholders through the optimisation of the debt and equity balance. The Company is not subject to any externally imposed capital requirements.

Categories of financial instruments

*Financial assets*	2021 $ 2020 $
Cash and cash equivalents	900,514 754,398
Trade and other receivables(non-interest bearing)	118,001 87,764
	1,018,515 842,162
*Financial liabilities*
	2021 $ 2020 $
Trade and other payables	514,871 597,052
Lease liabilities	159,851 18,978
	674,722 616,030

The fair value of the above financial instruments approximates their carrying values.

Interest rate risk

Interest rate risk is managed by investing cash with major institutions in cash on deposit. An increase in interest rates of 1% would have decreased the Company’s loss by $9,005 (2020: Loss $7,544). Where interest rates decreased, there would be an equal impact on the profit and opposite impact on the loss.

Liquidity risk

Ultimate responsibility for liquidity risk management rests with the Board of Directors, which has established an appropriate liquidity risk management framework for the management of the Company’s short-, medium- and long-term funding and liquidity management requirements. The Company manages liquidity risk by monitoring forecast and actual cash flows and ensuring that adequate funding is maintained. The Company’s operations include planned capital raising on an on-going basis to fund its planned acquisition program. If the Company does not raise capital in the short term, it can continue as a going concern by reducing planned but not committed acquisition or exploration expenditure until funding is available. The Company has not performed any sensitivity analysis and none is disclosed in the financial statements as the impact would not be material.

Moho Resources Limited

20. Remuneration of auditors

20. Remuneration of auditors
	2021 $ 2020 $
Audit services – RSM Australia Partners
Audit or review of the financial statements	32,250 32,000
	32,250 32,000
Non-audit services
Taxation services	8,950 10,000
	8,950 10,000

21. Key management personnel

The aggregate compensation made to Directors and other members of key management personnel of the Company is set out below:

	2021 $ 2020 $
Short-term employee benefits	496,000 478,000
Post employment benefits	45,410 45,410
Share based payments	845,260 103,926
	1,386,670 627,336

22. Related party transactions

22.1 Key management personnel

Any person(s) having authority and responsibility for planning, directing and controlling the activities of the Company, directly or indirectly, including any Director (whether executive or otherwise) of the Company, are considered key management personnel.

For details of disclosures relating to key management personnel, refer to note 21.

22.2 Transactions with related parties

During the year ended 30 June 2021, fees of $60,134 (2020: $28,950) were paid or due to be paid to Deadset Visuals Pty Ltd, a company of which Mr Winter’s spouse is a director of, for online marketing and graphic design services.

Transactions between related parties are on commercial terms and conditions, no more favourable than those available to other parties unless otherwise stated.

Loan to Directors and their related parties

No loans have been made to any Director or any of their related parties during the year (2020: nil). There were no further transactions with Directors including their related parties other than those disclosed above.

Moho Resources Limited

23. Commitments for expenditure

Exploration Commitments

In order to maintain rights of tenure to exploration permits, the Company has certain obligations to perform minimum exploration work and expend minimum amounts of capital.

Those commitments may be varied as a result of renegotiations, relinquishments, farm-out or joint venture agreements, sales or carrying out work in excess of the permit obligations.

The minimum expenditure required by the Company on its exploration permits as at 30 June 2021 is estimated below. Commitments beyond the time frame below cannot be estimated reliably as minimum expenditure requirements are reassessed annually. These commitments have not been provided for in the financial report.

	2021	2020
	$	$
Within one year	1,533,390	1,062,789
One to five years	3,942,468	3,262,127

24. Events after the reporting period

No other matter or circumstance has arisen since 30 June 2021, which has significantly, or may significantly affect the operations of the Company, the result of those operations, or the state of affairs of the Company in subsequent financial years.

25. Segment reporting

The Company operates in one business segment and one geographical segment namely the mineral exploration industry in Australia only.

The results of this segment are those of the Company as a whole and are set out in the statement of profit or loss and other comprehensive income. The assets and liabilities of this segment are those of the Company as a whole and are set out in the statement of financial position.

Moho Resources Limited

Schedule of Exploration Tenements

As of 14 September 2021.

PROJECT	TENEMENT	AREA (km2)	TENURE TYPE	STATUS	GRANT DATE	EXPIRY DATE
SILVER SWAN NORTH (WA)	E27/0528	20.45	EXPLORATION	GRANTED	10/11/2015	9/11/2025
	M27/0263	7.93	MINING	GRANTED	7/7/2018	7/7/2039
	P27/2232	2	PROSPECTING	GRANTED	7/3/2020	7/3/2024
	P27/2390	0.92	PROSPECTING	GRANTED	4/2/2019	3/2/2023
	E27/0613	5	EXPLORATION	GRANTED	27/8/2019	26/8/2024
	E27/0626	4	EXPLORATION	GRANTED	17/7/2020	16/7/2025
	M27/488	0.55	MINING	OPTION	14/7/2015	13/7/2036
	P27/2229	1.98	PROSPECTING	OPTION	30/11/2019	29/11/2023
	P27/2200	1.94	PROSPECTING	OPTION	23/2/2019	22/2/2023
	P27/2226	1.85	PROSPECTING	OPTION	16/11/2019	15/11/2023
	P27/2216-8	0.28	PROSPECTING	OPTION	15/10/2019	14/10/2023
BURRACOPPIN (WA)	E70/4688	123.15	EXPLORATION	GRANTED	6/11/2020	5/11/2025
	E70/5154	161.19	EXPLORATION	GRANTED	23/11/2018	22/11/2023
	E70/5301	1	EXPLORATION	GRANTED	25/03/2020	24/03/2025
	E70/5302	1	EXPLORATION	GRANTED	25/03/2020	24/03/2025

Moho Resources Limited

	E70/5300	26	EXPLORATION	GRANTED	15/7/2020	14/7/2025
	E70/5739	66	EXPLORATION	GRANTED	28/05/2021	27/05/2026
EMPRESS SPRINGS (QLD)	EPM25208	281	EXPLORATION	GRANTED	8/4/2014	7/4/2024
	EPM25209	291	EXPLORATION	GRANTED	8/4/2014	7/4/2024
	EPM25210	200	EXPLORATION	GRANTED	8/4/2014	7/4/2024
	EPM27193	48.9	EXPLORATION	GRANTED	3/12/2019	2/12/2024
	EPM27199	325.1	EXPLORATION	GRANTED	3/12/2019	2/12/2024
	EPM27200	6.5	EXPLORATION	GRANTED	3/12/2019	2/12/2024
	EPM27194	276	EXPLORATION	GRANTED	21/01/2020	20/01/2025
	EPM27195	236	EXPLORATION	GRANTED	21/01/2020	20/01/2025
	EPM27196	275	EXPLORATION	GRANTED	21/01/2020	20/01/2025
	EPM27197	272	EXPLORATION	GRANTED	21/01/2020	20/01/2025
	EPM27198	172	EXPLORATION	GRANTED	21/01/2020	20/01/2025

Moho Resources Limited

Shareholder Information

Additional information, current as at 14 September 2021 required by the ASX is as follows:

1. Voting Rights

Shareholder voting rights are specified in clause 2 of the Company's Constitution lodged with the ASX on 5 November 2018. Option holders do not have the right to vote at a general meeting of shareholders until such time as the options have been converted into ordinary shares in the Company.

2. Substantial Shareholders

There are no substantial shareholders listed on the company’s register as at 14 September 2021.

3. Distribution of Equity Securities

Shareholders

Holdings Ranges	Total Units	Holders	Percentage %
1-1,000	6,387	37	0.01%
1,001-5,000	151,392	37	0.15%
5,001-10,000	1,282,703	149	1.24%
10,001-100,000	19,561,539	462	18.94%
100,001 and over	82,273,381	206	79.66%
Total	103,275,402	891	100.00%

The number of Shareholders with less than a marketable parcel of shares is 136.

Quoted Options

Holdings Ranges	Total Units	Holders	Percentage %
1-1,000	3,338	7	0.01%
1,001-5,000	212,794	66	0.69%
5,001-10,000	321,298	40	1.05%
10,001-100,000	4,381,135	110	14.28%
100,001 and over	25,751,675	56	83.96%
Total	30,670,240	279	99.99%

The number of Option holders with less than a marketable parcel of options is 189.

Moho Resources Limited

4. Top 20

20 Largest Shareholders (fully paid ordinary shares)

Name 1. ODIN METALS LIMITED 2. SHANE SADLEIR 3. MR STEPHEN ANTHONY RAY 4. MR SALVATORE DI VINCENZO 5. GHJC PTY LIMITED 6. JAKANA PTY LTD 7. MR CHRISTOPHER JOHN O'CONNOR 8. TERENCE STREETER 9. MR WAYNE GILBERTSON + MRS TRACEY GILBERTSON GILBERTSON S/FUND A/C> 10. MIKE MOORE SUPER PTY LTD 11. TRE PTY LTD 12. SANCOAST PTY LTD 13. MR PETER HOWELLS 14. MR MICHAEL ALAIN RODRIGUEZ 15. MR BRADY GLENN JAUSEL 16. BNP PARIBAS NOMINEES 17. MR RICHARD THOMAS HAYWARD DALY + MRS SARAH KAY DALY 18. LIBERTINE INVESTMENTS PTY LTD 19. WESTONIA HIRE 20. MR PETER HOWELLS	Number Held Percentage % 4,500,000 4.36 3,059,366 2.96 2,800,000 2.71 2,146,447 2.08 1,852,043 1.79 1,822,223 1.76 1,500,000 1.45 1,500,000 1.45 1,425,000 1.38 1,400,000 1.36 1,383,955 1.34 1,300,000 1.26 1,150,000 1.11 1,045,000 1.01 910,459 0.88 902,347 0.87 901,229 0.87 883,333 0.86 820,110 0.79 812,222 0.79
	32,113,734 31.1

Name
1.
ODIN METALS LIMITED
2.
SHANE SADLEIR
3.
MR STEPHEN ANTHONY RAY
4.
MR SALVATORE DI VINCENZO
5.
GHJC PTY LIMITED
6.
JAKANA PTY LTD
7.
MR CHRISTOPHER JOHN O'CONNOR
8.
TERENCE STREETER
9.
MR WAYNE GILBERTSON + MRS TRACEY GILBERTSON GILBERTSON S/FUND A/C>
10.
MIKE MOORE SUPER PTY LTD
11.
TRE PTY LTD
12.
SANCOAST PTY LTD
13.
MR PETER HOWELLS
14.
MR MICHAEL ALAIN RODRIGUEZ
15.
MR BRADY GLENN JAUSEL
16.
BNP PARIBAS NOMINEES
17.
MR RICHARD THOMAS HAYWARD DALY + MRS SARAH KAY DALY

18.
LIBERTINE INVESTMENTS PTY LTD
19.
WESTONIA HIRE
20.
MR PETER HOWELLS

Number Held
Percentage %
4,500,000
4.36
3,059,366
2.96
2,800,000
2.71
2,146,447
2.08
1,852,043
1.79
1,822,223
1.76
1,500,000
1.45
1,500,000
1.45
1,425,000
1.38
1,400,000
1.36
1,383,955
1.34
1,300,000
1.26
1,150,000
1.11
1,045,000
1.01
910,459
0.88
902,347
0.87
901,229
0.87
883,333
0.86
820,110
0.79
812,222
0.79

32,113,734
31.1

Moho Resources Limited

20 Largest Optionholders (Quoted exercisable at $0.25 on or before 9 July 2023)

Name 1. SHANE SADLEIR 2. EXPLORE PTY LTD 3. TRADE HOLDINGS PTY LTD 4. ATLANTIS MG PTY LTD 5. RALPH WINTER 6. GEM GEOPHYSICAL PTY LTD 7. MGL CORP PTY LTD 8. ADRIAN LARKING 9. BT GLOBAL HOLDINGS PTY LTD 10. MR ADAM ERIC MUNKMAN 11. GHJC PTY LIMITED 12. BARCLAY WELLS LTD 13. MR CLAYTON JOHN SHARP + MRS EMMA LEE SHARP 14. WESTONIA HIRE 15. TERENCE STREETER 16. MR MICHAEL PEREIRA 17. MR BRADY GLENN JAUSEL 18. WORLDSCOPE PTY LTD 19. BERNARD MOURITZ 20. DR DIWEI LIN	Number Held Percentage % 5,185,760 16.91 1,062,332 3.46 1,000,000 3.26 1,000,000 3.26 947,227 3.09 745,287 2.43 740,000 2.41 729,211 2.38 612,000 2 600,000 1.96 598,725 1.95 531,000 1.73 508,569 1.66 503,370 1.64 500,000 1.63 484,000 1.58 448,502 1.46 440,279 1.44 427,779 1.39 410,201 1.34
	17,474,242 56.97

Name
1.
SHANE SADLEIR
2.
EXPLORE PTY LTD
3.
TRADE HOLDINGS PTY LTD
4.
ATLANTIS MG PTY LTD
5.
RALPH WINTER
6.
GEM GEOPHYSICAL PTY LTD
7.
MGL CORP PTY LTD
8.
ADRIAN LARKING
9.
BT GLOBAL HOLDINGS PTY LTD
10.
MR ADAM ERIC MUNKMAN
11.
GHJC PTY LIMITED
12.
BARCLAY WELLS LTD
13.
MR CLAYTON JOHN SHARP + MRS EMMA LEE SHARP
14.
WESTONIA HIRE
15.
TERENCE STREETER
16.
MR MICHAEL PEREIRA
17.
MR BRADY GLENN JAUSEL
18.
WORLDSCOPE PTY LTD
19.
BERNARD MOURITZ
20.
DR DIWEI LIN

Number Held
Percentage %
5,185,760
16.91
1,062,332
3.46
1,000,000
3.26
1,000,000
3.26
947,227
3.09
745,287
2.43
740,000
2.41
729,211
2.38
612,000
2
600,000
1.96
598,725
1.95
531,000
1.73
508,569
1.66
503,370
1.64
500,000
1.63
484,000
1.58
448,502
1.46
440,279
1.44
427,779
1.39
410,201
1.34

17,474,242
56.97

5. The Name of the Company Secretary is Mr Ralph Winter.

6. The address of the registered office and principal place of business is Office 3, 9 Loftus Street, West Leederville WA 6007. Telephone (08) 9481 0389.

Moho Resources Limited

7. Registers of securities are held at the following address:

Advanced Share Registry 10 Stirling Highway Nedlands WA 6009 Telephone: (08) 9389 8033

8. Stock Exchange Listing

Quotation has been granted for all the ordinary shares (ASX: MOH) and options (ASX:MOHO) of the company on the Australian Securities Exchange Limited.

9. Restricted Securities

The Company had no restricted securities as at the date of this report.

10. Unquoted Securities

The Company has the following unquoted securities on issue as at the date of this report

Type	Expiry date	Exercise price of shares ($)	Number under option
Unlisted	17 July 2023	$0.25	3,000,000
Unlisted	17 July 2023	$0.35	2,100,000
Unlisted	17 July 2013	$0.50	2,100,000
Unlisted	29 October 2023	$0.25	1,000,000
Unlisted	13 August 2022	$0.19	3,550,000
Unlisted	13 August 2023	$0.20	3,750,000
Unlisted	13 August 2023	$0.21	3,950,000
Unlisted	21 February 2024	$0.12	24,055,558

AI assistant

MOHO RESOURCES LIMITED — Annual Report 2021

65359_rns_2021-09-29_cb80a74b-1c52-4d44-80f7-31a41b7c281f.pdf

Directors

Company Secretary

Registered Office

Principal Place of Business

Auditors

Share Registry

Annual report for the year ended 30 June 2021

Chairman’s Letter

Director details

Mr Adrian Larking

Company secretary

Remuneration Report (Audited)

Remuneration Philosophy

Remuneration policy

Executive Director Remuneration

Non-Executive Directors Remuneration

Details of remuneration

Options and Rights Over Equity Instruments Granted as Compensation

Transactions with related parties

Loan to Directors and their related parties

KMP Shareholdings

KMP Options Holdings

End of Remuneration Report

Principal activities

Review of operations

SILVER SWAN NORTH GOLD - EXPLORATION, MINING STUDIES AND RESOURCE DEFINITION

METALLURGICAL TESTWORK

PHASE 1 RC DRILLING

DIAMOND DRILLING

Moho Resources Limited

EXPANDED PHASE 2 RC DRILLING

MINERAL RESOURCE ESTIMATE

Moho Resources Limited

TENEMENT ACQUISITIONS & APPLICATIONS

SURFACE GEOCHEMICAL SAMPLING PROGRAM INCREASES PROSPECTIVITY AT SILVER SWAN NORTH

EXPLORATION CAMP INFRASTRUCTURE

M27/263 ACQUISITION COMPLETED

BURRACOPPIN EXPLORATION

COMPLETION OF 70% EARNIN OF E70/4688 FROM IGO

REVERSE CIRCULATION DRILLING PROGRAM

DIAMOND DRILLING PROGRAM

EMPRESS SPRINGS GOLD EXPLORATION

HYDROGEOCHEMISTRY SAMPLING PROGRAM

Data Synthesis and Results, IGO:

Data Synthesis and Results, CSIRO:

Moho Resources Limited

Data Synthesis and Results, Richard Carver:

Overall Conclusions by Moho

References:

IP Survey of Arrowhead and Yappar Prospects

CORPORATE

COMPLIANCE STATEMENT

FORWARD LOOKING STATEMENTS

Significant changes in the state of affairs

Subsequent events

Likely developments

Environmental regulations

Dividends

Unissued shares under option

Indemnification of officers and auditors

Directors’ meetings

Proceedings on behalf of the Company

Officers of the Company who are former partners of RSM Australia Partners

Non-audit services

Auditor’s independence declaration

RSM Australia Partners

AUDITOR’S INDEPENDENCE DECLARATION

RSM AUSTRALIA PARTNERS

RSM Australia Partners

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF MOHO RESOURCES LIMITED

Opinion

Basis for Opinion

Material Uncertainty Related to Going Concern

Key Audit Matters

Key Audit Matter How our audit addressed this matter

Exploration and Evaluation Expenditure – Refer to Note 12

Other Information

MOHO RESOURCES LIMITED Annual Report 2021