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 2024 and 2025 are as follows: Note Joint venture (100%) 2025 $’000 (Audited) Joint venture (100%) 2024 $’000 (Audited) Current assets Cash and cash equivalents 14,858 15,350 Trade and other receivables 2,912 24,821 Prepayments 1,195 1,980 Other financial assets 1,562 1,643 Inventories d 33,852 34,704 Assets held for sale 125 – Total current assets 54,504 78,498 Non-current assets Other financial assets 1,246 1,400 Plant and equipment e 467,206 255,249 Right of use asset e 81,619 94,700 Mine properties and development e 84,714 268,797 Exploration and evaluation assets 5,693 8,947 Deferred tax assets 21,081 21,081 Total non-current assets 661,559 650,174 Total assets 716,063 728,672 Current liabilities Trade and other payables 45,253 29,699 Short term financial liability 32,314 – Lease liabilities h 11,210 10,224 Borrowings f 34,911 9,775 Provisions 4,102 4,803 Total current liabilities 127,790 54,501 Non-current liabilities Lease liabilities h 73,515 85,378 Other financial liabilities - royalty make whole g 93,971 116,527 Borrowings f 220,721 238,753 Provisions 36,996 29,499 Total non-current liabilities 425,203 470,157 Total liabilities 552,993 524,658 Net assets 163,070 204,014 Equity Issued capital 202,660 202,660 Reserves 88,713 88,713 Accumulated losses (128,303) (87,359) Total Equity 163,070 204,014 53 Sheffield Resources Limited Annual Report 2025
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