ANNUAL Report June 2024 Notes to the Consolidated Financial Statements 35 9. RECEIVABLES 2024 $ 2023 $ Receivables from related entities - 3,306,742 Tenement security deposits 1,189,102 1,172,598 Other security deposits 59,165 8,100 1,248,267 4,487,440 Tenement deposits are restricted in that they are available for rehabilitation that may be required on the mining leases and/or exploration tenements (refer to Notes 17 and 18). Receivables from related entities relate to the Company’s 50% portion of loans provided to the unincorporated joint venture, which have been reclassified as current during the reporting period (refer Note 8). 10. PLANT AND EQUIPMENT AT COST Land & Buildings Plant & Machinery Mine Assets Capital works in progress Total Cost at 1 July 2023 131,552 11,867,434 - 5,835,146 17,834,132 Additions 222,231 3,481,714 9,712,485 1,421,860 14,838,290 Acquisition of subsidiary 13,387,757 61,144,444 923,508 1,429,544 76,885,253 Disposals - (430,786) - - (430,786) Cost at 30 June 2024 13,741,540 76,062,806 10,635,993 8,686,550 109,126,889 Comprising: Cost at 30 June 2024 13,741,540 76,062,806 10,635,993 8,686,550 109,126,889 Accumulated depreciation at 1 July 2023 (648) (3,818,529) - - (3,819,177) Charge for the year (695,260) (5,051,382) (398,837) - (6,145,479) Eliminated on disposal - 361,501 - - 361,501 Cost at 30 June 2024 13,045,632 67,554,396 10,237,156 8,686,550 99,523,735 11. DEFERRED EXPLORATION AND EVALUATION 2024 $ 2023 $ Costs brought forward 14,273,131 10,803,974 Costs incurred during the period 1,934,696 3,640,380 Capitalised portion of R&D tax offset (24,462) (39,427) Total deferred exploration and evaluation 16,183,365 14,404,927 Amortisation deferred exploration and evaluation (1,261,246) (131,796) Costs carried forward 14,922,119 14,273,131 Exploration expenditure costs carried forward are made up of: Expenditure on joint venture areas - - Expenditure on non-joint venture areas 14,922,119 14,273,131 Costs carried forward 14,922,119 14,273,131 The above amounts represent costs of areas of interest carried forward as an asset in accordance with the accounting policy set out in Note 1. The ultimate recoupment of deferred exploration and evaluation expenditure in respect of an area of interest carried forward is dependent upon the discovery of commercially viable reserves and the successful development and exploitation of the respective areas or alternatively sale of the underlying areas of interest for at least their carrying value. Amortisation, concerning the relevant area of interest, is not charged until a mining operation has commenced. The Directors reassess the carrying value of the Group’s tenements at each half year or at a period other than that, should there be any indication of impairment. EQ Resources Limited Annual Report 2024 101
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