Sheffield Resources Limited Annual Report 2024

CONTENTS FINANCIAL STATEMENTS YEAR IN REVIEW DIRECTORS’ REPORT CORPORATE DIRECTORY SHAREHOLDER INFORMATION 8. Investment in joint venture (continued) Consolidated audited statements of financial position of KMS as at 30 June 2023 and 2024 are as follows: Note Joint venture (100%) 2024 $’000 (Audited) Joint venture (100%) 2023 $’000 (Audited) Current assets Cash and cash equivalents 15,350 95,211 Trade and other receivables 24,821 1,410 Prepayments 1,980 1,234 Other financial assets 1,643 155 Inventories 8 (d) 34,704 186 Total current assets 78,498 98,196 Non-current assets Other financial assets 1,400 1,074 Prepayments 8 (g) – 117,288 Property, plant and equipment 8 (e) 255,249 22,849 Right of use asset 8 (e) 94,700 1,739 Mine assets under development 8 (e) 268,797 383,629 Exploration and evaluation assets 8,947 7,314 Deferred tax assets 8 (c) 21,081 – Total non-current assets 650,174 533,893 Total assets 728,672 632,089 Current liabilities Trade and other payables 29,699 19,727 Lease liabilities 8 (h) 10,224 293 Borrowings 8 (f) 9,775 – Provisions 4,803 3,402 Total current liabilities 54,501 23,422 Non-current liabilities Lease liabilities 8 (h) 85,378 1,751 Other financial liabilities 8 (g) 116,527 112,696 Borrowings 8 (f) 238,753 229,818 Provisions 29,499 16,966 Deferred tax liabilities 8 (c) – 3,147 Total non-current liabilities 470,157 364,378 Total liabilities 524,658 387,800 Net assets 204,014 244,289 Equity Issued capital 202,660 187,660 Reserves 88,713 88,713 Accumulated losses (87,359) (32,084) Total equity 204,014 244,289 51 Sheffield Resources Limited Annual Report 2024

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