Notes to the Consolidated Financial Statements for the year ended 30 June 2025 8. Investment in joint venture (continued) Summarised consolidated audited statements of profit or loss and other comprehensive income of KMS for the years ended 30 June 2024 and 2025 are as follows: Note Joint venture (100%) 2025 $’000 (Audited) Joint venture (100%) 2024 $’000 (Audited) Revenue from continuing operations a 243,585 71,958 Other income – 298 Mining expenses (117,221) (57,243) Processing expenses (28,442) (12,115) Logistics expenses (44,688) (19,893) Non-process infrastructure and maintenance expenses (14,213) (15,938) Site Administration expenses (711) (4,979) Royalty expenses (12,968) (4,480) Change in inventories (1,993) 32,715 General and administrative expenses (2,937) (14,252) Depreciation and amortisation expenses (29,534) (18,212) Impairment of exploration expenditure (3,397) – Loss before financing costs and income tax (12,519) (42,141) Finance income 156 46 Finance expenses b (28,581) (37,409) Loss before income tax (40,944) (79,504) Income tax benefit c – 24,229 Loss after income tax (40,944) (55,275) Other Comprehensive Income / (loss) – – Total comprehensive loss, net of tax (40,944) (55,275) Reconciliation of share of joint venture results Sheffield’s share of joint venture results – 50% (20,472) (27,638) 52 Sheffield Resources Limited Annual Report 2025
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