Notes to the Consolidated Financial Statements for the year ended 30 June 2024 5. Segment reporting (continued) 2024 South Atlantic Project $’000 Thunderbird Project $’000 Other $’000 Total $’000 Segment Reporting Other income – – 1,050 1,050 Employee benefits expenses – – (1,701) (1,701) Share-based payments expenses – – (706) (706) Corporate expenses – – (1,835) (1,835) Net fair value change on financial assets – – (1,361) (1,361) Share of joint venture results – (27,638) – (27,638) Segment results before tax – (27,638) (4,553) (32,191) Segment assets 3,774 123,800 11,003 138,577 Segment liabilities – – 447 447 Other disclosures Investment in joint venture – 123,800 – 123,800 Capital expenditure 2,266 – 1,072 3,338 2023 South Atlantic Project $’000 Thunderbird Project $’000 Other $’000 Total $’000 Segment Reporting Other income – – 608 608 Employee benefits expenses – – (1,605) (1,605) Share-based payments expenses – – (914) (914) Corporate expenses – – (1,331) (1,331) Share of joint venture loss – (5,368) – (5,368) Segment loss before tax – (5,368) (3,242) (8,610) Segment assets 1,508 143,938 24,471 169,917 Segment liabilities – – 302 302 Other disclosures Investment in joint venture – 143,938 – 143,938 Capital expenditure 1,508 – – 1,508 6. Financial risk management The Group have exposure to the following risks from their use of financial instruments: – Interest rate risk; – Credit risk; – Liquidity risk; and – Foreign currency risk; Risk management The Group’s principal financial instruments comprise of cash, receivables, payables and investments. The Group monitors and manages its exposure to key financial risks in accordance with the Group’s financial management policy. 46 Annual Report 2024 Sheffield Resources Limited
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