ANNUAL Report June 2024 Consolidated Statement of Cash Flows 17 Consolidated Statement of Cash Flows For the Year ended 30 June 2024 Note 2024 $ 2023 $ Cash Flows from Operating Activities Proceeds from sales to customers 28,416,570 6,236,356 Proceeds from R & D tax offset 2,152,803 2,346,937 Proceeds from diesel fuel rebate 749,802 271,989 Proceeds from grants 651,411 5,983,000 Proceeds from other sources 9,242 307,160 Payment to suppliers and employees (43,679,827) (16,499,915) Interest paid (911,428) - Interest paid for lease liabilities (150,111) (55,834) Interest received 57,984 17,679 Net Cash Flows Used in Operating Activities 22(a) (12,703,554) (1,392,628) Cash Flows from Investing Activities Payments for the purchase of plant and equipment (12,656,696) (4,293,175) Payments for the capitalised exploration and evaluation expenditure (1,880,376) (3,085,926) Payments for the purchase of other entities (2,198,705) - Proceeds from the sale or disposal of plant and equipment 8,956 118,291 Payment of loan to other entities (unincorporated joint venture) (2,122,550) (3,694,544) Proceeds from release of other security deposits - - Payments for the purchase of tenements - - Payments / proceeds for tenement security deposits (50,000) - Net Cash Flows Used in Investing Activities (18,899,371) (10,955,354) Cash Flows from Financing Activities Proceeds from the issue of shares 34,269,999 4,812,000 Proceeds from the issue of convertible notes 750,000 - Proceeds from the issue of share options 2,495,744 - Payments for share / convertible note issue costs (430,748) 224,307 Proceeds from long-term loan facilities 259,860 10,000,000 Proceeds from short-term loan facilities (unincorporated joint venture) 1,932,500 100,000 Proceeds from short-term loan facilities (other related parties) - - Payments for lease liabilities (787,582) (289,658) Payments for loans and borrowing cost (16,548,000) (317,689) Payments for transaction costs of loans and borrowings (383,739) - Proceeds from offtake advance extension - 1,482,960 Net Cash Flows from Financing Activities 21,558,034 16,011,920 Net (decrease)/increase in cash held (10,044,891) 3,663,939 Add opening cash brought forward 5,335,596 1,723,426 Add opening cash from acquiring other entities 8,280,498 - Effect of movement in exchange rates on cash held (81,671) (51,769) Closing Cash Carried Forward 22(b) 3,489,532 5,335,596 For the year ended 30 June 2024 EQ Resources Limited Annual Report 2024 83
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