ABN 74 072 692 365
FINANCIAL REPORT
30 JUNE 2016
Contents
Page
Corporate Directory ii
Directors' Report 6
Auditor's Independence Declaration 10
Consolidated Statement of Profit & Loss and 11
Other Comprehensive Income
Consolidated Statement of Financial Position 12
Consolidated Statement of Changes in Equity 13
Consolidated Statement of Cash Flows 14
Notes to the Financial Statements 15
Directors' Declaration 38
Independent Audit Report 39
Corporate Governance Statement 41
Shareholder Information 49
Mining Tenements 51
i
CORPORATE DIRECTORY
ii
Directors
Philip Francis Bruce
Executive Chairman / Managing Director
Graham Charles Reveleigh Non-Executive Director
William Joseph Condon Non-Executive Director
Company Secretary
Kevin Martin Lynn
Australian Business Number
74 072 692 365
Sydney / Registered Office
Hill End Gold Limited
Suite 111, 350 George Street
Sydney NSW 2000
Telephone: +61 2 8283 1915
Field Office
4 Bowen Street
Hill End NSW 2850
Telephone: +61 2 6337 8343
Facsimile: + 61 2 6337 8345 www.hillendgold.com.au
Auditor
Moyes Yong
Level 7 Norwich House 6 O'Connell Street
Sydney NSW 2000
Telephone: +61 2 8256 1100
Facsimile: +61 2 8256 1111
Solicitors
Kelly Hazel Quill
Level 15, 440 Collins Street
Melbourne Vic 3000
Telephone: +61 3 9663 9877
Facsimile: +61 3 9009 5494
Bankers
Commonwealth Bank of Australia 48 Martin Place
Sydney NSW 2000
Stock Exchange Listing
Hill End Gold Limited shares are listed on the Australian Securities Exchange (ASX code: HEG)
Share Registry
Boardroom Limited
Level 12, 225 George Street
Sydney NSW 2000
Telephone +61 2 9290 9600
Facsimile: +61 2 9279 0664 www.boardroomlimited.com.au
ABN 74 072 692 365
DIRECTORS' REPORT
The Directors present their report, together with the financial statements, on the consolidated entity (referred to hereafter as the 'consolidated entity' or 'Group') consisting of Hill End Gold Limited and the subsidiaries it controlled at the end of, or during, the year ended 30 June 2016.
Directors
The Directors of Hill End Gold Limited during the financial year and until the date of this report are: Philip Francis Bruce (Executive Chairman / Managing Director)
Graham Charles Reveleigh (Non-Executive Director)
William Joseph Condon (Non-Executive Director) appointed 6 July 2015 Quah Su-Yin (Non-Executive Director) resigned 27 October 2015
Denis Edmund Clarke (Chairman) resigned 19 January 2016
Principal Activities
The principal activities of the Group during the financial year were exploration activities on its New South Wales tenements and the assessment of resources acquisition opportunities with significant potential.
There were no significant changes in the nature of the principal activities during the year.
Review of Operations
The Group incurred a pre-tax operating loss of $1,389,381 (2015: loss $4,183,995). This result includes:
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a loss of $281,258 at the Hill End site due to administration and depreciation of site plant and equipment
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exploration expensed and written off of $300,384, and
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impairment of development properties of $55,876.
No dividend has been paid since the end of the previous financial year and no dividend is recommended for the current year (2015 - nil).
The net assets of the Group have decreased by $1,137,485 being the net of:
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a net increase in capital and reserves of $251,896,
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the operating loss for the year of $1,389,381, and The capital structure of the Group at signing date is:
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1,452,264,885 fully paid ordinary shares (HEG);
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37,500,000 unlisted director options exercisable at 5 cents per share up to 29 November 2017.
Significant Changes in the State of Affairs
On 5 August 2015 the Company issued 96,000,062 ordinary shares at $0.0035 per share under a Share Purchase Plan which raised $336,000.
On 29 February 2016 the Company issued 33,555,550 ordinary shares under a non-renounceable rights issue at $0.003 per share which raised $100,666.
A further 44,108,913 ordinary shares were issued to financial advisors during the year in settlement of fees amounting to $83,870.
There were no other significant changes in the state of affairs in the Group during the year.
1