ABN 38 126 200 280
Annual report
for the year ended 30 June 2017
ABN 38 126 200 280 CONTENTSCorporate information 3
Chairman's letter 4
Operations report 5
Directors' report 12
Auditor's independence declaration 19
Statement of comprehensive income 20
Statement of financial position 21
Statement of changes in equity 22
Statement of cash flows 23
Notes to the financial statements 24
Directors' declaration 38
Independent auditor's report to the members 39
ASX additional information 41
CORPORATE INFORMATION DirectorsExecutive Chairman: John (Jack) Gardner
Executive Director: Peter McMickan Non-Executive Deputy Chairman: Raymond Whitten
Company secretaryMichael Langoulant
Registered officeSuite 2, Level 1, 47 Havelock Street West Perth WA 6005
Website www.vikingmines.com Email: info@vikingmines.com Ph: (61-8) 6313 5151
Fax (61-8) 9322 8892
Share registryComputershare Investor Services Pty Limited Level 11, 172 St Georges Terrace
Perth WA 6000
Email: web.queries@computershare.com.au Ph: 1 300 787 272
Fax: (08) 9323 2033
SolicitorJackson MacDonald
Level 17, 225 St Georges Terrace
Perth WA 6000
AuditorRothsay Chartered Accountants Level 1, Lincoln Building
4 Ventnor Avenue West Perth WA 6005
Stock Exchange ListingAustralian Securities Exchange (ASX code: VKA)
CHAIRMANS LETTERDear fellow shareholders,
Your Board of Directors is pleased to present the eighth Viking Mines Limited ("Viking" or the "Company") annual report.
As we go to press, I am pleased to report that your company is in a strong cash position, for a junior exploration & mining company. Of the USD 8 million cash component of the Akoase sale, USD 5 million has been received, with a further USD 3 million expected by December.
Your directors operate with low overheads so that most funds are applied to projects. We have been actively searching for mature projects rather than greenfields opportunities, as exploration can be a risky business.
Gold offers attractive opportunities when care is taken in selection. Your directors have concentrated on the extraordinarily endowed Ashanti Gold Belt in Ghana. I am particularly pleased to note that Viking will shortly be awarded the Tumentu lease, with its drill-ready targets. We are pursuing a number of other opportunities in the Ashanti belt with the view of building a world class suite of mature gold properties.
Viking is investigating hard rock tin-lithium opportunities in the world class regional belt stretching from Myanmar through Thailand into Malaysia, Hard rock tin associated with lithium rich micas is particularly attractive in Thailand where the Government is supportive of lithium battery development.. Tin itself has become an attractive commodity and lithium continues its strong growth.
As previously advised your company seeks particular minerals including gold, copper, zinc and manganese, in jurisdictions where it expects to operate safely. We have searched in Australia but to date have not found a project of value compared with going offshore, where we can bring the extensive experience of your directors to bear.
On behalf of the Board I also thank our new investors and existing shareholders for your continued support, and we look forward to keeping you informed of our progress during 2018.
Yours faithfully
Jack Gardner Executive Chairman
Viking Mines Limited published this content on 28 August 2017 and is solely responsible for the information contained herein.
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