1、Middle IslandRESOURCES LIMITED MIDDLE ISLAND RESOURCES LIMITED ABN 70 142 361 608Annual Report for the period ended 30 June 2015A N N U A L R E P O R T 2 0 1 5C O N T E N T SMANAGING DIRECTORS OVERVIEW-1OPERATIONS OVERVIEW-3DIRECTORS REPORT-7AUDITORS INDEPENDENCE DECLARATION-15CORPORATE GOVERNANCE S
2、TATEMENT-16CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME-17CONSOLIDATED STATEMENT OF FINANCIAL POSITION-18CONSOLIDATED STATEMENT OF CHANGES IN EQUITY-19CONSOLIDATED STATEMENT OF CASH FLOWS-20NOTES TO THE FINANCIAL STATEMENTS-21DIRECTORS DECLARATION-40INDEPENDENT AUDITORS RE
3、PORT-41ASX ADDITIONAL INFORMATION-43M I D D L E I S L A N D R E S O U R C E S L I M I T E D A N N U A L R E P O R T 2 0 1 51M A N A G I N G D I R E C T O R S O V E R V I E WDear Fellow Shareholders,Although challenged by circumstances largely outside our control,on behalf of the Directors,I have ple
4、asure in presenting our 2015 Annual Report,which provides a summary of the past years activities and future opportunities.Equity markets showed little or no overall improvement during FY15 and conditions for junior resource explorers remain extremely challenging.This situation has necessitated furth
5、er cost reduction measures,which have variously included closing the Niger office and exploration camps,regrettably terminating the employment of all associated staff,selling or redeploying equipment,relocating the Burkina Faso office to smaller premises,implementing further redundancies in Burkina
6、Faso,subletting half of the Companys modest office in West Perth,reducing administrative salaries,and implementing the further sharing of Perth administrative functions and costs.Although redundancies,due diligence costs and legal fees have negatively impacted our 2014-15 financial result,the overal