ANNUAL Report June 2024 Notes to the Consolidated Financial Statements 52 33. PARENT ENTITY INFORMATION The following information relates to the parent entity, EQ Resources Limited. The information presented has been prepared using accounting policies that are consistent with those presented in Note 1. 2024 $ 2023 $ ASSETS Current assets 55,218,343 22,913,935 Non-current assets 28,391,268 27,512,937 TOTAL ASSETS 83,609,611 50,426,872 LIABILITIES Current liabilities 5,136,580 9,365,121 Non-current liabilities 10,328,941 9,974,439 TOTAL LIABILITIES 15,465,521 19,339,560 NET ASSETS 68,144,090 31,087,312 EQUITY Issued capital 68,338,429 27,222,110 Reserves 5,675,116 3,523,413 Accumulated gains / (losses) (5,869,455) 341,789 TOTAL EQUITY 68,144,090 31,087,312 FINANCIAL PERFORMANCE Profit (loss) for the year (6,207,248) 2,075,825 Other comprehensive income/(loss) for the year (3,996) (387) Total comprehensive profit/(loss) (6,211,244) 2,075,438 Contingent Liabilities As at 30 June 2024 and 30 June 2023 the Company had no contingent liabilities other than those disclosed in Note 17. Contractual Commitments In addition to the contractual commitments outlined in the Significant Changes section of the Directors Report, the following material contractual commitments were entered into during the period: ▪ Contract to purchase property, plant and equipment for $5,497,350. Non-refundable deposits of $1,780,000 were paid during the year, with the balance expected to be settled via a supplier finance facility consisting of 5.75% interest p.a. with repayments spread over 48 months. This commitment is expected to be settled in the 2025 – 2026 financial year. ▪ Compensation contract with Australian Wildlife Conservancy, the underlying leaseholder of the Mt Carbine Mining Leases (ML 4867 & ML 4919). This contract will give rise to an annual expense of $68,474 for the life of mine. ▪ Mining Services Agreement with Golding Contractors Pty Ltd for the Andy White Open Cut mining operations. The committed contract period is for 70 months, estimated at $179 million. The first 12-18 month period of the contract is based on a cost-plus model, which will be transitioned to rise-and-run matrix rates once a site-specific baseline cost has been established. Guarantees Entered into by Parent Entity As at 30 June 2024, the Group has not provided any financial guarantees. 118 EQ Resources Limited Annual Report 2024 Notes to the Consolidated Financial Statements continued
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