Earnings release
Page 1
ASX / MEDIA RELEASE 24 JULY 2025 Registered Address New Murchison Gold Limited ACN 085 782 994 Level 2, 5 Ord Street West Perth WA 6005 E: info@newmurchgold.com.au T : +61 (08) 9389 6927 w: newmurchgold.com.au Projects Garden Gully Gold Project Corporate Shares on Issue 10,321m Share Price $0.017 (as at 23-Jul-25) Market Cap $1 75m ASX Code NMG June 2025 Quarterly Activities Report HIGHLIGHTS C rown Prince Project Development • Approvals Received – The Crown Prince Mining Proposal and Mine Closure Plan approvals were secured during the quarter. • Development Decision – the Board of NMG resolved to proceed with project development which will see the Company transition from explorer to gold miner in the September quarter. • Major Contracts Executed – Development, drilling, mining and site infrastructure contracts have b een awarded to experienced contractors to ensure high quality, efficient delivery. • Site Mobilisation and Operational Preparation – Critical equipment and workforce were mobilised to site late during the quarter commencing site establishment works and mining activity. • First Blast Completed on 30 June 2025 – the first blast marks the official commencement of mining at Crown Prince. • Timing of first gold-in-ore sales - Subsequent to quarter end, site establishment has continued at a rapid pace with the Company on track for first ore sales to Westgold’s Bluebird Mill (BBGO) i n S eptember 2025. Capital Raise • In June 2025, the Company received firm commitments for a two-tranche equity placement of new shares to raise $12 million at $0.017 per share . Tranche 1 proceeds of $8 million were received in early July with the remaining $4 million subject to Shareholder approval at the General Meeting to be held on 15 August 2025. • I n conjunction with the placement, the Company launched a share purchase plan ( SPP) (at the same price), to enable existing shareholders to participate. Corporate • Cash balance of $14.5 million cash and is well funded to pursue ongoing technical programs and commercialisation options at Crown Prince. For personal use only
Page 2
newmurchgold.com.au New Murchison Gold Limited ( ASX:NMG) (“ NMG” or the “ Company”), a Western Australian gold exploration and development Company , is pleased to provide shareholders and investors with an exploration and operations overview to accompany the Appendix 5B for the quarter ending 3 0 June 2025 (“Quarter” or the “Reporting Period”). New Murchison Gold has an Ore Purchase Agreement (OPA) with Westgold Resources Limited which will underpin production form NMG’s Crown Prince deposit near Meekatharra, Western Australia in 2025. The Company is developing the Crown Prince Project (M51/886) part of NMG ’s broader Garden Gully tenure package (Figure 1) towards first gold production. Commenting on key outcomes for the Quarter, NMG CEO, Alex Passmore said: “The June quarter was a pivotal period with the Company receiving key approval s and committing to a development decision for the Crown Prince Gold Mine. The completion of the first blast on 30 June 2025 is a huge milestone for the Company with mining commencing only a few days after mining approvals were received. We are on schedule for first ore deliveries to Westgold’s Bluebird mill in September. The Company looks forward to production of ore from the Crown Prince open pit shortly ahead of stockpiling, crushing and sampling. Production is set to ramp up from September. Outside of production preparation the Company pleasingly returned some very impressive exploration results during the quarter. The deeper drilling at Crown Prince indicates that the project is likely to continue past the open pit currently planned and the Company is shortly commencing its studies on an underground development.” For personal use only
Page 3
newmurchgold.com.au Figure 1: NMG Regional Tenements - Crown Prince located 33km North of Bluebird Mill For personal use only
Page 4
newmurchgold.com.au GARDEN GULLY ACTIVITIES Drilling Program On 30 April 2025, NMG announced an update on diamond drilling activities at the Crown Prince Gold Project (Crown Prince) at the Company’s flagship Garden Gully Gold Project near Meekatharra, Western Australia. The recently finalised deep diamond drilling program consist ed of 13 holes (Table 1) targeting mineralisation down plunge from the south- eastern and northern zone of mineralisation. The target is outside the current Mineral Resource Estimate envelope. Key highlights include: • Recent drilling confirmed the presence of strongly mineralised gold zones at depth below the planned Crown Prince open pit, including an extremely high- grade gold result received from NGGRCDD974 (visible gold previously reported to ASX 10 March 2025); • The Company undertook a diamond drill program targeting South- Eastern Zone (SEZ ) mineralisation at depth to underpin resource growth and conversion of inferred Mineral Resources to indicated category (Figure 2); • Assay results from diamond hole NGGRCDD974 returned 0.28m @ 17,240g/t Au (Figure 3) within a broader intersection of 1.64m at 3,090g/t Au from 251.36m; • Two diamond holes in the program were extended well through SEZ , targeting the Main Zone (MZ) at depth. One of these holes (NGGRCDD980) successfully intersected the MZ structure at depth with visible gold specs in a strongly sheared lithology, which is typical of mineralisation in this zone; • The visible gold intersected in NGGRCDD980 was observed at a depth of 568m down hole , being the deepest gold occurrence at Crown Prince to date. This mineralisation was intersected on the western side of the Crown Prince central shear (northerly trending) which offsets and separates MZ and SEZ; and • Interpretations and assays received will be incorporated into a revised resource estimate for the underground component of Crown Prince. The Company notes these results are likely to support the decision to progress studies on an underground scenario for production following the open pit development. For personal use only
Page 5
newmurchgold.com.au Table 1: Drill Hole Details from the Recent Drill Program Figure 2: Plan View with Recent Drillhole Traces, Ore Bodies and Simplified Geology For personal use only
Page 6
newmurchgold.com.au Figure 3: Visible Gold in Quartz - Carbonate Vein (intersected at 252m down hole in NGGRCDD974 within a broader 16m wide shear zone) These results add confidence to the mineralised structure at depth and further enhance the prospectivity of the underground scenarios outlined in Figure 4. Figure 4: Summary Adapted from Crown Prince Feasibility Study (see ASX release 03 February 2025) Showing Mineralisation in the Crown Prince Mineral Resource Outside of the Current Pit Envelope For personal use only
Page 7
newmurchgold.com.au On 13 May 2025, NMG announced high-grade gold intercepts from shallow slim reverse circulation (SRC) grade control drilling over the caprock zone at Crown Prince. The results returned in grade control indicate that the mineable material in the caprock zone is likely to outperform earlier expectations. The drilling was designed over the Crown Prince pit design area to a maximum depth of 14m. The highest gold grade in the caprock grade control was returned from over the South-Eastern Zone from GC00087-88 and GC00111 and GC00153. Key highlights include: • 9m @ 18.71g/t Au from 1m in GC00088; • 6m @ 9.44g/t Au from 3m in GC00087; • 8m @ 9.99g/t Au from 0m in GC00111; and • 1m @ 17.68g/t Au from 7m in GC00153. On 28 May 2025, NMG announced high-grade gold intercepts from reverse circulation (RC) grade control drilling beneath the cap rock zone at Crown Prince. NMG is undertaking a grade control drilling program at Crown Prince to infill resource estimation drilling ahead of mining. A total of 330 inclined grade control drill holes have been designed to test and better delineate grade below the lateritic cap rock above the Crown Prince ore body. Assay results received to date are only from the first 101 holes. The drilling was designed over the Crown Prince pit design area to a maximum depth of 83m and drilled northerly over the MZ and north-westerly over the (SEZ) – see Figures 5 and 6. Figure 5: Cross Section over the Main Zone For personal use only
Page 8
newmurchgold.com.au Figure 6: Cross Section over the South-Eastern Zone On 13 June 2025, NMG announced additional high-grade gold intercepts fro m RC grade control drilling beneath the cap rock zone at Crown Prince. NMG has finalized the grade control drilling program at Crown Prince to infill resource estimation drilling ahead of mining. A total of 330 inclined grade control drill holes have been designed to test and better delineate grade below the lateritic cap roc k above the Crown Prince ore body. Assay results included in the current announcement follow the previous assays from the 101 holes announced on 28 May 2025. This includes additional 149 holes, most of them over the central and eastern part of SEZ. The drilling was designed over the Crown Prince pit design area to a maximum depth of 83m and drilled northerly over the Main Zone and north-westerly over the SEZ. Pleasingly, this grade control drilling supports the continuity of the mineralised structures at Crown Prince and replicates the grades returned previously from resource drilling. For personal use only
Page 9
newmurchgold.com.au Westgold Strategic Alliance In December 2024, NMG announced that it had entered into the OPA with Westgold which will underpin production form NMG’s Crown Prince deposit near Meekatharra, Western Australia in 2025. Crown Prince is located to the north of Meekatharra, around 33km via road to the Bluebird Gold Processing Plant (Bluebird) owned and operated by Westgold subsidiary Big Bell Gold Operations Pty Ltd ( BBGO). Westgold and NMG have been working collaboratively under the OPA to manage technical risks and to share economic synergies which are available via the partnering of production from the Crown Prince deposit and milling at Bluebird. In April 2025, NMG advised that all conditions precedent to the OPA ha d been satisfied or waived and accordingly the OPA has come into full effect. Figure 7: Crown Prince - Plan of access and water infrastructure For personal use only
Page 10
newmurchgold.com.au CORPORATE Leadership Team In April 2025, NMG announced the appointment of two highly accomplished professionals to its executive leadership team, including: • Mr Derek Humphry appointed as Chief Financial Officer and Joint Company Secretary; and • Mr Kim Gundersen appointed as General Manager Operations. Messrs Humphry and Gundersen have extensive experience in gold-focused ASX-listed companies across corporate finance and mining operations. The strengthened executive team is aligned with NMG’s growth strategy. Board Changes In May 2025, NMG announced that Mr Frank DeMarte is stepping down as Executive Director and Company Secretary effective today. Frank has given professional and faithful service to the Company for 24 years, initially as Company Secretary and then from 2008 also as Executive Director. Furthermore, NMG confirmed the appointment of a highly qualified and accomplished independent Non- Executive Director, Ms Joanne Palmer. Pursuant to the Company’s constitution, Ms Palmer will hold office as Director until the next Annual General Meeting, where she will be required to seek re-election. Cash Balance NMG finished the June Quarter with $ 14.5 million cash and is well funded to pursue ongoing technical programs and commencement of mining operations at Crown Prince. The cash balance at 30 June 2025 did not reflect the capital raising, with the $8 million proceeds of tranche 1 of the placement received in early July 2025 and the remain $4 million tranche 2 placement subject to shareholder approval at a general meeting to be held15 August 2025. Company Outlook First ore production from the Crown Prince open pit mine is scheduled to occur in early August, following ROM pad construction at the end of July. Ore crushing and sampling is set to commence in late August with ore parcel deliveries to BBGO in September. ASX Listing Rule 5 Disclosures NMG’s exploration and e valuation expenditure d uring th e Quarter tota lled $ 5.0 million . This wa s predominantly related to activities at Crown Prince. On 20 June 2025, the Company resolved to develop Crown Prince with the first blast occurring on 30 June 2025. There was no substantive mining production during the Quarter with site establishment works commencing post quarter end. For personal use only
Page 11
newmurchgold.com.au During the Quarter, related party payments totalled $45,000 (Item 6.1 in Appendix 5B) reflecting payments to Directors, including Directors’ fees, and superannuation costs for the Reporting Period. Events Subsequent to Balance Date On 1 July 2025, NMG confirmed that the first blast had been undertaken safely and successfully at Crown Prince. Highlights include: • First Blast Completed Successfully – NMG and its mining contractor Ozland Mining Services successfully and safely completed the first blast at Crown Prince on 30 June 2025 as planned. The first shot was in the entry ramp to the Stage 1 Crown Prince open pit; • Drilled Stocks Being Built Up – the second and third blasts will be undertaken over the coming week to continue to build up material ready for load and haul operations; • Site Infrastructure Build – material from the first blast to be utilised to build site infrastructure including ROM and Crusher pad and main haul roads on the site; • First Ore Stockpiling Expected Shortly – First ore will be mined from the pit in early August with ore to be stockpiled ahead of crushing and building of ore parcels for trucking to BBGO’s Bluebird gold processing plant; and • Crushing and Product Stockpiling Expected in August, Trucking in Early September – crushing and product stockpiling to commence in mid-August ahead of trucking to BBGO in September. On 4 July 2025, NMG announced additional high- grade gold intercepts from RC grade control drilling beneath the cap rock zone at Crown Prince as part of the Company’s flagship Garden Gully Gold Project. The drilling was designed over the Crown Prince pit design area to a maximum depth of 83m and drilled northerly over the Main Zone and north -westerly over the South -Eastern Zone ( SEZ). Significant intersections include: • 7m at 8.55g/t Au from 34m, including 1m at 40.68g/t Au from 37m in GC00500 from 31m; • 26m at 3.67g/t Au from 23m, including 2m at 42.3g/t Au from 46m in GC00511; • 20m at 15.09g/t Au from 42m, including 4m at 47.08g/t Au from 53m in GC00519; • 7m at 17.64g/t Au from 35m, including 2m at 48.65g/t Au from 39m in GC00524; • 8m at 12.89g/t Au from 45m, including 3m at 31.2g/t Au from 45m in GC00525; • 4m at 20.98g/t Au from 45m, including 1m at 75.73g/t Au from 45m in GC00538; • 4m at 15.75g/t Au from 9m, including 1m at 35.32g/t Au from 9m in GC00549; and • 2m at 19.57g/t Au from 47m, including 1m at 36.78g/t Au from 48m in GC00553. For personal use only
Page 12
newmurchgold.com.au Schedule of Tenements Project Tenement Interest at Start of Quarter Interest at End of Quarter Acquired During the Quarter Disposed During the Quarter Joint Venture Partner/ Farm-in Party Western Australia Keller Creek E80/4834 20% FCI 20% FCI Panoramic (PAN) Red Bore M52/597 (100%) 100% Garden Gully Project Crown Prince P51/3009 100% 100% Abbotts E51/1609 100% 100% Young/Ascuns E51/1661 100% 100% Abbotts E51/1708 100% 100% Young E51/1737 100% 100% Abernethy E51/1790 100% 100% Abernethy E51/1791 100% 100% Abbotts M51/390 100% 100% Crescent M51/567 100% 100% Crown Prince M51/886 100% 100% Lydia M51/889 100% 100% Rinichi E51/2150 100% 100% Farm In Tenements Lake Annean E51/1709 Beneficial interest via JV (51%) Beneficial interest via JV (51%) Abernethy South E51/1888 Beneficial interest via JV (90%) Beneficial interest via JV (90%) Abernethy South E51/1924 Beneficial interest via JV (90%) Beneficial interest via JV (90%) East Burnakurra E51/1936 Beneficial interest via JV (51%) Beneficial interest via JV (51%) Abernethy South E51/1963 Beneficial interest via JV (90%) Beneficial interest via JV (90%) East Burnakurra E51/1989 Beneficial interest via JV (51%) Beneficial interest via JV (51%) Murchison Project East Burnakurra E51/2002 100% 100% Abernethy South E51/2012 100% 100% Lake Annean E51/2013 100% 100% Abernethy E51/2014 100% 100% Abernethy E51/2015 100% 100% Western Flank E51/1932 100% 100% Western Flank E51/1972 100% 100% Western Flank E51/1973 100% 100% Tenement Applications West Caledonian E51/2103 Application Application West Reedy E20/1025 Application Application For personal use only
Page 13
newmurchgold.com.au Authorised for release to ASX by the Board of New Murchison Gold Limited. For further information please contact: Alex Passmore Chief Executive Officer E: info@newmurchgold.com.au newmurchgold.com.au Jane Morgan Investor and Media Relations E: m@janemorganmanagement.com.au Forward-Looking Statements This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Ora’s planned exploration program and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "expect," "intend," "may”, "potential," "should," and similar expressions are forward-looking statements. Although Ora believes that its expectations reflected in these forward -looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that further exploration will result in the estimation of a Mineral Resource. Competent Person Statement The details contained in this report that pertain to Exploration Results, Mineral Resources or Ore Reserves, are based upon, and fairly represent, information and supporting documentation compiled by Mr Costica Vieru, a Member of the Australian Institute of Geoscientists and a full-time employee of the Company. Mr Vieru has sufficient experience which is relevant to the style(s) of mineralisation and type(s) of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (JORC Code). Mr Vieru consents to the inclusion in this report of the matters based upon the information in the form and context in which it appears. About New Murchison Gold New Murchison Gold Limited (ASX:NMG) is a mineral exploration and development company which holds a substantial package of tenements in the prolific Murchison goldfield near Meekatharra, Western Australia. The Company is focused on the Garden Gully Gold Project which comprises a 677km2 tenure package covering the Abbotts Greenstone Belt and other key regional structures. The project has multiple gold deposits along the belt with the most advanced being the Crown Prince Deposit. Gold mineralisation in the belt is controlled by major north trending structures and contact zones between felsic and mafic metamorphosed rocks. NMG updated its Mineral Resource Estimate in November 2024 and reported a maiden Ore Reserve and Feasibility Study for the Crown Prince Deposit in February 2025. In June 2025 NMG resolved to develop the Crown Prince Gold Mine. This places NMG on track towards becoming a gold producer. For personal use only
Page 14
Rule 5.5 ASX Listing Rules Appendix 5B (17/07/20) Page 1 + See chapter 19 of the ASX Listing Rules for defined terms. Appendix 5B Mining exploration entity quarterly cash flow report Name of entity NEW MURCHISON GOLD LIMITED ABN Quarter ended (“current quarter”) 74 950 465 654 30 June 2025 Consolidated statement of cash flows Current quarter $A’000 Year to date (9 months) $A’000 1. Cash flows from operating activities 1.1 Receipts from customers 1.2 Payments for - - (a) exploration & evaluation (b) development - - (c) production - - (d) staff costs (1,076) (1,583) (e) administration and corporate costs (767) (1,153) 1.3 Dividends received (see note 3) - - 1.4 Interest received 24 48 1.5 Interest and other costs of finance paid - - 1.6 Income taxes paid - - 1.7 Government grants and tax incentives - - 1.8 Other 8 29 1.9 Net cash from / (used in) operating activities (1,811) (2,659) 2. Cash flows from investing activities - - 2.1 Payments to acquire or for: (a) entities (b) tenements - - (c) property, plant and equipment (236) (540) (d) exploration & evaluation (5,010) (9,652) (e) investments - - (f) other non-current assets - - For personal use only
Page 15
Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 2 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (9 months) $A’000 2.2 Proceeds from the disposal of: - - (a) entities (b) tenements - - (c) property, plant and equipment - - (d) investments - - (e) other non-current assets - - 2.3 Cash flows from loans to other entities - - 2.4 Dividends received (see note 3) - - 2.5 Other - - 2.6 Net cash from / (used in) investing activities (5,246) (10,192) 3. Cash flows from financing activities - 16,500 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities - - 3.3 Proceeds from exercise of options 120 8,612 3.4 Transaction costs related to issues of equity securities or convertible debt securities (25) (1,165) 3.5 Proceeds from borrowings - - 3.6 Repayment of borrowings - - 3.7 Transaction costs related to loans and borrowings - - 3.8 Dividends paid - - 3.9 Other - - 3.10 Net cash from / (used in) financing activities 95 23,947 4. Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 21,451 3,393 4.2 Net cash from / (used in) operating activities (item 1.9 above) (1,811) (2,659) 4.3 Net cash from / (used in) investing activities (item 2.6 above) (5,246) (10,192) 4.4 Net cash from / (used in) financing activities (item 3.10 above) 95 23,947 For personal use only
Page 16
Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 3 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (9 months) $A’000 4.5 Effect of movement in exchange rates on cash held - - 4.6 Cash and cash equivalents at end of period 14,489 14,489 5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts Current quarter $A’000 Previous quarter $A’000 5.1 Bank balances 6,489 5,451 5.2 Call deposits 8,000 16,000 5.3 Bank overdrafts - - 5.4 Other (provide details) - - 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 14,489 21,451 6. Payments to related parties of the entity and their associates Current quarter $A'000 6.1 Aggregate amount of payments to related parties and their associates included in item 1 45 6.2 Aggregate amount of payments to related parties and their associates included in item 2 - Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. 7. Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 7.1 Loan facilities - - 7.2 Credit standby arrangements - - 7.3 Other - repayment - - 7.4 Total financing facilities - - 7.5 Unused financing facilities available at quarter end - 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. N/A For personal use only
Page 17
Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 4 + See chapter 19 of the ASX Listing Rules for defined terms. 8. Estimated cash available for future operating activities $A’000 8.1 Net cash from / (used in) operating activities (item 1.9) (1,811) 8.2 (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) (5,010) 8.3 Total relevant outgoings (item 8.1 + item 8.2) (6,821) 8.4 Cash and cash equivalents at quarter end (item 4.6) 14,489 8.5 Unused finance facilities available at quarter end (item 7.5) - 8.6 Total available funding (item 8.4 + item 8.5) 14,489 8.7 Estimated quarters of funding available (item 8.6 divided by item 8.3) 2.12 Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. 8.8 If item 8.7 is less than 2 quarters, please provide answers to the following questions: 8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? Answer: N/A 8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? Answer: N/A 8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? Answer: N/A Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered. Compliance statement 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A. 2 This statement gives a true and fair view of the matters disclosed. Date: 24 July 2025 Authorised by: The Board (Name of body or officer authorising release – see note 4) For personal use only
Page 18
Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 5 + See chapter 19 of the ASX Listing Rules for defined terms. Notes 1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter , how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so. 2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report. 3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity. 4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [name of board committee – eg Audit and Risk Committee] ”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”. 5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively. For personal use only