December 2017 Half Year Results

Key Points

• Net Revenue - $0.4 million
• Cash flow from operating activities - $5.3 million outflow after project care and maintenance costs (after consolidating $1.2 million of costs incurred at the Gum Creek Project) and corporate costs
• Reported net loss after tax - $5.3 million (including $0.9 million contributed by Horizon Gold Limited)
• Net current assets - $9.6 million
• Net assets - $108.6 million
• Capital Raising – fully subscribed $20.9 million (before costs) raised in February 2018 to be used primarily for critical path pre-production activities to reduce the lead time for a restart of mining operations at Savannah