25 Nov

Lachlan Minerals Pty Ltd Financial Report - 30 June 2020

BDO Audit (WA) Pty Ltd ABN 79 112 284 787 is a member of a national association of independent entities which are all members of BDO Australia Ltd ABN 77 050 110 275, an Australian company limited by guarantee. BDO Audit (WA) Pty Ltd and BDO Australia Ltd are members of BDO International Ltd , a UK com pany limited by guarantee, and form part of the international BDO network of independent member firms. Liability limited by a scheme approved under Professi onal Standards Legislation. Tel: +61 8 6382 4600 Fax: +61 8 6382 4601 www.bdo.com.au 38 Station Street Subiaco, WA 6008 PO Box 700 West Perth WA 6872 Australia DECLARATION OF INDEP ENDENCE BY JARRAD PRUE TO THE DIRECTORS OF LACHLAN MINERALS PTY LTD As lead auditor of Lachlan Minerals Pty Ltd for the year ended 30 June 2020 , I declare that, to the best of my knowledge and belief, there have been n o contraventions of any applicable code of professional conduct in relation to the audit. This declaration is in respect of Lachlan Minerals Pty Ltd. Jarrad Prue Director BDO Audit (WA) Pty Ltd Perth, 19 September 2021 BDO Audit (WA) Pty Ltd ABN 79 112 284 787 is a member of a national association of independent entities which are all members of BDO Australia Ltd ABN 77 050 110 275, an Australian company limited by guarantee. BDO Audit (WA) Pty Ltd and BDO Australia Ltd are members of BDO International Ltd , a UK com pany limited by guarantee, and form part of the international BDO network of independent member firms. Liability limited by a scheme approved under Professi onal Standards Legislation. 38 Station Street Subiaco, WA 6008 PO Box 700 West Perth WA 6872 Australia Tel: +61 8 6382 4600 Fax: +61 8 6382 4601 www.bdo.com.au INDEPENDENT AUDITOR' S REPORT To the members of Lachlan Minerals Pty Ltd Report on the Audit of the Financial Report Opinion We have audited the financial report of Lachlan Minerals Pty Ltd (th e Entity ), which comprises the statement of financial position as at 30 June 2020 , 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 report, including a summary of significant accounting policies, and managements’ assertion statement . In our opinio n the accompanying financial report presents fairly, in all material respects, the financial position of the E ntity as at 30 June 2020 and of its financial performance and its cash flows for the year then ended in accordance with the basis of accounting de scribed in note 2 . Basis for o pinion We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the Auditor’s r esponsibilities for the a udit of the Financial Report section of our report . We are independent of the Entity in accordance with ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (the Code) that a re relevant to our audit of the financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code. 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 W e draw attention to Note 2(a) in the financial report which describes the events and/or conditions which give rise to the existence of a material uncertainty that may cast significant doubt about the entity’s ability to continue as a going concern and therefore the entity may be unabl e to realise its assets and discharge its liabilities in the normal course of business. Our opinion is not modified in respect of this matter. Emphasis of matter – Basis of accounting We draw attention to Note 2 (a) to the financial report, which desc ribes the basis of accounting. The financial report has been prepared as requested by the Board of Directors . As a result, the financial report may not be suitable for another purpose. Our opinion is not modified in respect of this matter. Responsibilities of management and those charged with governance for the Financial Report Management is responsible for the preparation and fair presentation of the financial report, and have determined that the basis of preparation described in Note 2 (a) is appropriate to meet the requirements of the Australian Stock Exchange and for such internal control as management determines is necessary to enable the preparation and fair presentation of a financial report that is free from material misstatement, whether due to frau d or error. In preparing the financial report, management is responsible for assess ing the Entity’s ability to continue as a going concern, disclosing, as applicable, matters relating to going concern and using the going concern basis of accounting unless management either intends to liquidate the Entity or to cease operations, or has no realistic alternative but to do so. Those charged with governance are responsible for overseeing the Entity’s financial reporting process. Auditor’s r esponsibilities for t he a udit 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 t he financial report is located at the Auditing and Assurance Standards Board website ( http://www.auasb.gov.au/Home.aspx ) at: http:/ /www.auasb.gov.au/auditors_responsibilities/ar4.pdf This description forms part of our auditor’s report. BDO Audit (WA) Pty Ltd Jarrad Prue Director Perth, 19 September 2021
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