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EARNINGS PER SHARE
 12 Months Ended
Jun. 30, 2019
EARNINGS PER SHARE [Abstract]  
EARNINGS PER SHARE
13.
EARNINGS PER SHARE
 
  2019  2018  
2017
 
  
US$ cents
  
US$ cents
  
US$ cents
 
Basic loss per share
  
(1.58
)
  
(1.91
)
  
(0.64
)
Diluted loss per share
  
(1.58
)
  
(1.91
)
  
(0.64
)

  2019  2018  2017 
  
US$
  
US$
  
US$
 
The following reflects the income and share data used in the calculations of basic earnings per share:
         
Net loss
  
(9,822,626
)
  
(9,957,817
)
  
(2,639,428
)
Earnings used in calculating basic and dilutive earnings per share
  
(9,822,626
)
  
(9,957,817
)
  
(2,639,428
)

  
Number of
Ordinary
Shares
2019
  
Number of
Ordinary
Shares
2018
  
Number of
Ordinary
Shares
2017
 
          
Weighted average number of Ordinary Shares used in calculating basic and dilutive earnings per share
  
621,391,730
   
520,222,133
   
409,976,775
 
 
(a)
Non-Dilutive Securities
 
As at balance date, 85,850,000 Incentive Options and 50,000 Performance Rights, which together represent 85,900,000 potential Ordinary Shares, were considered non-dilutive as they would decrease the loss per share.
 
(b)
Conversions, Calls, Subscriptions or Issues after June 30, 2019
 
After year end, in July 2019, the Company issued 145,000,000 Ordinary Shares under an institutional placement at an issue price of A$0.145 per share to raise gross proceeds of A$21 million.
 
Other than as outlined above, there have been no conversions to, calls of, or subscriptions for Ordinary Shares or issues of potential Ordinary Shares since the reporting date and before the completion of this financial report.