CONTENTS FINANCIAL STATEMENTS YEAR IN REVIEW DIRECTORS’ REPORT CORPORATE DIRECTORY SHAREHOLDER INFORMATION 8. Investment in joint venture (continued) (h) Joint venture – lease liabilities KMS’ lease liabilities are as follows: Joint venture (100%) 2024 $’000 (Audited) Joint venture (100%) 2023 $’000 (Audited) Current liabilities Lease liabilities 10,224 293 10,224 293 Non-current liabilities Lease liabilities 85,378 1,751 85,378 1,751 95,602 2,044 KMS reconciliation of movement in interest bearing liabilities to cash flows from financing activities: Joint venture (100%) 2024 $’000 (Audited) Joint venture (100%) 2023 $’000 (Audited) Opening balance 2,044 2,360 Additional finance lease liabilities1 98,797 – Accretion of interest 8,242 76 Lease modification 421 43 Foreign currency revaluation 378 – Payments for lease liabilities (14,280) (435) 95,602 2,044 Note 1: KMS recognised lease liabilities relating to site power plant, product rotainers, Dry Mining Unit, haulage and logistics plant and equipment, mine site light vehicles, laboratory equipment, staff residential leases in Broome and staging area at Port of Broome. 59 Sheffield Resources Limited Annual Report 2024
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