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"value": "\n1. STATEMENT OF MATERIAL ACCOUNTING POLICIES
\nThe material accounting policies adopted in preparing the financial report of GreenX Metals Limited (\u201cGreenX\u201d or
\n\u201cCompany\u201d) and its consolidated entities (\u201cConsolidated Entity\u201d or \u201cGroup\u201d) for the year ended 30 June 2024 are
\nstated to assist in a general understanding of the financial report.
\nGreenX Metals is a Company limited by shares incorporated and domiciled in Australia whose shares are publicly
\ntraded on the Australian Securities Exchange (\u201cASX\u201d), the London Stock Exchange (\u201cLSE\u201d) and the Warsaw Stock
\nExchange (\u201cWSE\u201d).
\n\nThe financial report of the Group for the year ended 30 June 2024 was authorised for issue in accordance with a
\nresolution of the Directors.
\n
\n\n\n\n\n\n(a) Basis of Preparation
\nThe financial report is a general purpose financial report, which has been prepared in accordance with Australian
\nAccounting Standards (\u201cAASBs\u201d) and other authoritative pronouncements of the Australian Accounting Standards
\nBoard (\u201cAASB\u201d) and the Corporations Act 2001. The Group is a for-profit entity for the purposes of preparing the
\nconsolidated financial statements.
\nThe financial report has been prepared on a historical cost basis, except for certain financial liabilities which have
\nbeen measured at fair value. The financial report is presented in Australian dollars.
\nThe consolidated financial statements have been prepared on a going concern basis which assumes the continuity
\nof normal business activity and the realisation of assets and the settlement of liabilities in the ordinary course of
\nbusiness.
\nThe Group has updated the classification of expenses to make the Statement of Profit or Loss and other
\nComprehensive Income more relevant to users of the financial report. This has resulted in the reclassification of
\nsome items in the prior period, however, has not impacted the reported loss for the period. The Group has also
\nupdated the classification of the Ordinary Shares relating to the calculation for basic and diluted earnings per
\nshare (EPS) for the prior period, this has resulted in an updated EPS. The update was made to ensure EPS is more
\nrelevant to users of the financial report.
\n
\n\n\n\n\n\n
\n(b) Statement of Compliance
\nThe financial report complies with International Financial Reporting Standards (\u201cIFRS\u201d) as issued by the
\nInternational Accounting Standards Board.
\n\nIn the current year, the Group has adopted all of the new and revised Standards and Interpretations issued by the
\nAASB that are relevant to its operations and effective for the current annual reporting period. The adoption of these
\nnew and revised Standards or Interpretations has had an immaterial impact (if any) on the Group. Any new or
\namended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted.
\nAustralian Accounting Standards and Interpretations that have recently been issued or amended but are not yet
\neffective have not been adopted by the Group for the annual reporting period ended 30 June 2024. Those which
\nmay be relevant to the Group are set out in the table below, but these are not expected to have any significant
\nimpact on the Group\u2019s financial statements as detailed below.
\nStandard/Interpretation
\nApplication
\ndate of
\nstandard
\nApplication
\ndate for Group
\nAASB 2020-1 Amendments to Australian Accounting Standards \u2013
\nClassification of
\nLiabilities as Current or Non-Current
\n1 January 2023 1 July 2023
\nAASB 2021-7(a-c) Amendments to Australian Accounting Standards \u2013 Effective Date of
\nAmendments to AASB 10 and AASB 128 and Editorial Corrections
\n1 January 2025 1 July 2025
\nAASB 18 Presentation and Disclosure in Financial Statements 1 January 2027 1 July 2027
\n
\n\n\n\n\n
\n\n\n\n\n\n
\n\n(c) Principles of Consolidation
\nThe consolidated financial statements incorporate the assets and liabilities of all subsidiaries of the Company as at
\n30 June 2024 and the results of all subsidiaries for the year then ended.
\nSubsidiaries are all entities (including structured entities) over which the Group has control. The Group controls an
\nentity when the group is exposed to, or has rights to, variable returns from its involvement with the entity and has
\nthe ability to affect those returns through its power to direct the activities of the entity.
\nThe financial statements of the subsidiaries are prepared for the same reporting period as the Company, using
\nconsistent accounting policies. Accounting policies of subsidiaries have been changed where necessary to ensure
\nconsistency with the policies adopted by the Company.
\nSubsidiaries are fully consolidated from the date on which control is transferred to the Company. They are de-
\nconsolidated from the date that control ceases. Intercompany transactions and balances, income and expenses
\nand profits and losses between Group companies, are eliminated.
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n
\n
\n
\n
\n
\n
\n1. STATEMENT OF MATERIAL ACCOUNTING POLICIES (Continued)
\n\n(d) Cash and Cash Equivalents
\nCash and cash equivalents include cash on hand, deposits held at call with banks and other short-term highly
\nliquid investments with original maturities of three months or less.
\n
\n\n\n\n\n\n(e) Trade and Other Receivables
\nTrade receivables are initially recognised at the transaction price and subsequently measured at amortised costs
\namount less any expected credit loss (\u201cECL\u201d).
\nReceivables from related parties are initially recognised at fair value and measured at amortised cost and are
\ninterest free.
\nThe Group\u2019s trade and other receivables includes GST and other taxes receivables, interest receivable and security
\ndeposits.
\n
\n\n\n\n\n\n
\n
\n\n
\n(f) Financial Assets
\n(i)
\nInitial recognition and measurement
\nFinancial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair value through
\nother comprehensive income (\u201cOCI\u201d), and fair value through profit or loss.
\nThe classification of financial assets at initial recognition depends on the financial asset\u2019s contractual cash flow
\ncharacteristics and the Group\u2019s business model for managing them. The Group initially measures a financial asset
\nat its fair value plus, in the case of a financial asset not at fair value through profit or loss, less transaction costs.
\n(ii)
\nSubsequent measurement
\nFor purposes of subsequent measurement, financial assets are classified in four categories:
\n\u2022 Financial assets at amortised cost;
\n\u2022 Financial assets at fair value through OCI with recycling of cumulative gains and losses (not relevant to the
\nGroup);
\n\u2022 Financial assets designated at fair value through OCI with no recycling of cumulative gains and losses upon
\nderecognition (equity instruments \u2013 not relevant to the Group); and
\n\u2022 Financial assets at fair value through profit or loss (equity instruments \u2013 not relevant to the Group).
\nFinancial assets at amortised cost (debt instruments)
\nThe Group measures financial assets at amortised cost if both of the following conditions are met:
\n\u2022 The financial asset is held within a business model with the objective to hold financial assets in order to
\ncollect contractual cash flows; and
\n\u2022 The contractual terms of the financial asset give rise on specified dates to cash flows that are solely
\npayments of principal and interest on the principal amount outstanding.
\nFinancial assets at amortised cost are subsequently measured using the effective interest rate (\u201cEIR\u201d) method and
\nare subject to impairment. Gains and losses are recognised in profit or loss when the asset is derecognised,
\nmodified or impaired.
\n\nImpairment
\nThe Group recognises an allowance for ECLs for all debt instruments not held at fair value through profit or loss.
\nECLs are based on the difference between the contractual cash flows due in accordance with the contract and all
\nthe cash flows that the Group expects to receive, discounted at an approximation of the original EIR. ECLs are
\nrecognised in two stages. For credit exposures for which there has not been a significant increase in credit risk
\nsince initial recognition, ECLs are provided for credit losses that result from default events that are possible within
\nthe next 12-months (a 12-month ECL). For those credit exposures for which there has been a significant increase in
\ncredit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of
\nthe exposure, irrespective of the timing of the default (a lifetime ECL).
\nFor receivables due in less than 12 months, the Group recognises a loss allowance based on the financial asset\u2019s
\nlifetime ECL at each reporting date.
\nGiven the nature of financial assets held by the Group, it considers a financial asset to be in default when internal
\nor external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full
\nbefore taking into account any credit enhancements held by the Group. A financial asset is written off when there
\nis no reasonable expectation of recovering the contractual cash flows.
\nAt each reporting date, the Group assesses whether financial assets carried at amortised cost are credit impaired.
\nA financial asset is credit-impaired when one or more events that have a detrimental impact on the estimated
\nfuture cash flows of the financial asset have occurred.
\n
\n\n\n
\n\n\n
\n\n\n
\n\n\n\n
\n
\n
\n\n
\n(g) Property, Plant and Equipment
\n(i) Recognition and measurement
\nProperty, plant and equipment is stated at historical cost less accumulated depreciation and any accumulated
\nimpairment losses. Such cost includes the cost of replacing parts that are eligible for capitalisation when the cost
\nof replacing the parts is incurred. Similarly, when each major inspection is performed, its cost is recognised in the
\ncarrying amount of the property, plant and equipment as a replacement only if it is eligible for capitalisation. All
\nother repairs and maintenance are recognised in the Statement of Profit or Loss and other Comprehensive Income
\nas incurred.
\n\n(ii) Depreciation
\nDepreciation is provided on a straight-line basis on all property, plant and equipment.
\n2024 2023
\nMajor depreciation periods (per annum) are:
\nPlant and equipment: 22% - 40% 22% - 40%
\nThe assets\u2019 residual values, useful lives and amortisation methods are reviewed, and adjusted if appropriate, at
\neach financial year end.
\n
\n\n\n(iii) Derecognition
\nAn item of property, plant and equipment is derecognised upon disposal or when no further future economic
\nbenefits are expected from its use or disposal. Impairment of property, plant and equipment are discussed in note
\n1(r).
\n
\n\n\n\n(h) Exploration and Evaluation Expenditure
\nExpenditure on exploration and evaluation is accounted for in accordance with the \u2018area of interest\u2019 method.
\nExploration and evaluation expenditure encompasses expenditures incurred by the Group in connection with the
\nexploration for and evaluation of mineral resources before the technical feasibility and commercial viability of
\nextracting a mineral resource are demonstrable.
\nFor each area of interest, expenditure incurred in the acquisition of rights to explore is capitalised, classified as
\ntangible or intangible, and recognised as an exploration and evaluation asset. Exploration and evaluation assets
\nare measured at cost at recognition and are recorded as an asset if:
\n(i) the rights to tenure of the area of interest are current; and
\n(ii) at least one of the following conditions is also met:
\n\u2022 the exploration and evaluation expenditures are expected to be recouped through successful
\ndevelopment and exploitation of the area of interest, or alternatively, by its sale; and
\n\u2022 exploration and evaluation activities in the area of interest have not at the reporting date reached a stage
\nwhich permits a reasonable assessment of the existence or otherwise of economically recoverable
\nreserves, and active and significant operations in, or in relation to, the area of interest are continuing.
\nExploration and evaluation expenditure incurred by the Group subsequent to acquisition of the rights to explore
\nis expensed as incurred, up to costs associated with the preparation of a feasibility study.
\nImpairment
\nCapitalised exploration costs are reviewed each reporting date to establish whether an indication of impairment
\nexists. If any such indication exists, the recoverable amount of the capitalised exploration costs is estimated to
\ndetermine the extent of the impairment loss (if any). Where an impairment loss subsequently reverses, the
\ncarrying amount of the asset is increased to the revised estimate of its recoverable amount, but only to the extent
\nthat the increased carrying amount does not exceed the carrying amount that would have been determined had
\nno impairment loss been recognised for the asset in previous years.
\nWhere a decision is made to proceed with development, accumulated expenditure is tested for impairment and
\ntransferred to development properties, and then amortised over the life of the reserves associated with the area
\nof interest once mining operations have commenced. Recoverability of the carrying amount of the exploration
\nand evaluation assets is dependent on successful development and commercial exploitation, or alternatively, sale
\nof the respective areas of interest.
\n
\n\n\n\n(i) Payables
\nLiabilities are recognised for amounts to be paid in the future for goods and services received. Trade accounts
\npayable are normally settled within 30 days. Payables are carried at amortised cost.
\n
\n\n\n
\n\n\n
\n
\n
\n1. STATEMENT OF MATERIAL ACCOUNTING POLICIES (Continued)
\n\n(j) Provisions
\nProvisions are recognised when the Group has a present obligation (legal or constructive) as a result of a past
\nevent, it is probable that an outflow of resources embodying economic benefits will be required to settle the
\nobligation and a reliable estimate can be made of the amount of the obligation.
\nProvisions are measured at the present value of management\u2019s best estimate of the expenditure required to settle
\nthe present obligation at the reporting date. If the effect of the time value of money is material, provisions are
\ndiscounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When
\ndiscounting is used, the increase in the provision due to the passage of time is recognised as a finance cost.
\n
\n\n\n\n
\n\n
\n
\n(k) Financial Liabilities
\n(i) Initial recognition and measurement
\nFinancial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans
\nand borrowings (amortised cost) or payables.
\nAll financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables,
\nnet of directly attributable transaction costs.
\nThe Group\u2019s financial liabilities include trade and other payables and financial liabilities at fair value through profit
\nor loss.
\n(ii) Subsequent measurement
\nThe measurement of financial liabilities depends on their classification, as described below:
\nAmortised cost liabilities
\nThis is the category most relevant to the Group. After initial recognition, amortised cost liabilities are subsequently
\nmeasured at amortised cost using the EIR method. Gains and losses are then recognised in profit or loss when the
\nliabilities are derecognised as well as through the EIR amortisation process.
\nAmortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that
\nare an integral part of the EIR. The EIR amortisation is included as finance costs in the statement of profit or loss.
\n\nFinancial liabilities at fair value through profit or loss
\nThis is the category least relevant to the Group. Financial liabilities at fair value through profit or loss include
\nfinancial liabilities held for trading and financial liabilities designated upon initial recognition as at fair value
\nthrough profit or loss.
\nFinancial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near
\nterm.
\nGains or losses on liabilities held for trading are recognised in the statement of profit or loss.
\nFinancial liabilities designated upon initial recognition at fair value through profit or loss are designated at the
\ninitial date of recognition, and only if the criteria in AASB 9 Financial Instruments are satisfied.
\n
\n\n\n\n(iii) Derecognition
\nA financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires.
\nWhen an existing financial liability is replaced by another on substantially different terms, or the terms of an
\nexisting liability are substantially modified, such an exchange or modification is treated as the derecognition of the
\noriginal liability and the recognition of a new liability. The difference in the respective carrying amounts is
\nrecognised in the statement of profit or loss.
\n
\n\n\n
\n\n\n
\n\n\n\n(l) Revenue Recognition
\nRevenue is recognised when control of goods is transferred to the customer at an amount that reflects the
\nconsideration to which the Group expects to be entitled to in exchange for those goods.
\nInterest revenue is recognised as it accrues, taking into account the effective yield on the financial asset.
\n
\n\n\n
\n\n\n
\n
\n
\n\n
\n(m) Income Tax
\nThe income tax expense for the period is the tax payable on the current period\u2019s taxable income based on the
\nnational income tax rate for each jurisdiction adjusted by changes in deferred tax assets and liabilities attributable
\nto temporary differences between the tax bases of assets and liabilities and their carrying amounts in the financial
\nstatements, and to unused tax losses.
\n\nDeferred tax assets and liabilities are recognised for temporary differences at the tax rates expected to apply when
\nthe assets are recovered or liabilities are settled, based on those tax rates which are enacted or substantively
\nenacted at balance date for each jurisdiction. The relevant tax rates are applied to the cumulative amounts of
\ndeductible and taxable temporary differences to measure the deferred tax asset or liability. An exception is made
\nfor certain temporary differences arising from the initial recognition of an asset or a liability. No deferred tax asset
\nor liability is recognised in relation to these temporary differences if they arose on goodwill or in a transaction,
\nother than a business combination, that at the time of the transaction did not affect either accounting profit or
\ntaxable profit or loss.
\nDeferred tax liabilities and assets are not recognised for temporary differences between the carrying amount and
\ntax bases of investments in controlled entities where the Company is able to control the timing of the reversal of
\nthe temporary differences and it is probable that the differences will not reverse in the foreseeable future.
\nDeferred tax assets are recognised for deductible temporary differences and unused tax losses only if it is probable
\nthat future taxable amounts will be available to utilise those temporary differences and losses.
\nThe carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the extent
\nthat it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred income
\ntax asset to be utilised.
\nUnrecognised deferred income tax assets are reassessed at each balance date and are recognised to the extent
\nthat it has become probable that future taxable profit will allow the deferred tax asset to be recovered.
\nCurrent and deferred tax balances attributable to amounts recognised directly in equity are also recognised
\ndirectly in equity.
\nDeferred tax assets and deferred tax liabilities are offset only if a legally enforceable right exists to set off current
\ntax assets against tax liabilities and the deferred tax liabilities relate to the same taxable entity and the same
\ntaxation authority.
\n
\n\n\nTax consolidation
\nGreenX Metals Limited and its wholly-owned Australian subsidiaries have formed an income tax consolidated
\ngroup under the tax consolidation regime. Each entity in the tax consolidated group recognises its own current
\nand deferred tax liabilities, except for any deferred tax assets resulting from unused tax losses and tax credits,
\nwhich are immediately assumed by the Company (which is the head entity in the tax consolidated group). The
\ncurrent tax liability of each group entity is then subsequently assumed by the Company. The tax consolidated
\ngroup has entered a tax sharing agreement whereby each company in the Group contributes to the income tax
\npayable in proportion to their contribution to the net profit before tax of the tax consolidated group.
\n
\n\n\n\n(n) Employee Entitlements
\nProvision is made for the Group\u2019s liability for employee benefits arising from services rendered by employees to
\nbalance date. Employee benefits that are expected to be settled within 12 months have been measured at the
\namounts expected to be paid when the liability is settled, plus related on-costs. Employee benefits payable later
\nthan 12 months have been measured using the projected unit credit valuation method.
\n
\n\n\n\n(o) Earnings per Share
\nBasic earnings per share (\u201cEPS\u201d) is calculated by dividing the net profit attributable to members of the Company
\nfor the reporting period, after excluding any costs of servicing equity, by the weighted average number of Ordinary
\nShares of the Company, adjusted for any bonus issue.
\nDiluted EPS is calculated by dividing the basic EPS earnings, adjusted by the after tax effect of financing costs
\nassociated with dilutive potential Ordinary Shares and the effect on revenues and expenses of conversion to
\nOrdinary Shares associated with dilutive potential Ordinary Shares, by the weighted average number of Ordinary
\nShares and dilutive Ordinary Shares adjusted for any bonus issue.
\n
\n\n\n
\n\n\n
\n
\n
\n
\n
\n1. STATEMENT OF MATERIAL ACCOUNTING POLICIES (Continued)
\n\n(p) Goods and Services Tax (GST)
\nRevenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred
\nis not recoverable from the Australian Tax Office. In these circumstances the GST is recognised as part of the cost
\nof acquisition of the asset or as part of the expense. Receivables and payables in the statement of financial position
\nare shown inclusive of GST.
\nCash flows are presented in the cash flow statement on a gross basis, except for the GST component of investing
\nand financing activities, which are disclosed as operating cash flows.
\n
\n\n\n(q) Acquisition of Assets
\nA group of assets may be acquired in a transaction which is not a business combination. In such cases the cost of
\nacquisition is allocated to the individual identifiable assets (including intangible assets that meet the definition of
\nand recognition criteria for intangible assets in AASB 138) acquired and liabilities assumed on the basis of their
\nrelative fair values at the date of purchase.
\n\n(r) Impairment of non-current Assets
\nThe Group assesses at each reporting date whether there is an indication that a non-current asset may be
\nimpaired. If any such indication exists, or when annual impairment testing for an asset is required, the Group
\nmakes an estimate of the asset's recoverable amount. An asset's recoverable amount is the higher of its fair value
\nless costs of disposal and its value in use and is determined for an individual asset, unless the asset does not
\ngenerate cash inflows that are largely independent of those from other assets or groups of assets and the asset's
\nvalue in use cannot be estimated to be close to its fair value. In such cases the asset is tested for impairment as
\npart of the cash-generating unit to which it belongs. When the carrying amount of an asset or cash-generating
\nunit exceeds its recoverable amount, the asset or cash-generating unit is considered impaired and is written down
\nto its recoverable amount.
\nIn assessing the value in use, the estimated future cash flows are discounted to their present value using a pre-tax
\ndiscount rate that reflects current market assessments of the time value of money and the risks specific to the
\nasset.
\nAn assessment is also made at each reporting date as to whether there is any indication that previously recognised
\nimpairment losses may no longer exist or may have decreased. If such indication exists, the recoverable amount is
\nestimated. A previously recognised impairment loss is reversed only if there has been a change in the estimates
\nused to determine the asset's recoverable amount since the last impairment loss was recognised. If that is the case
\nthe carrying amount of the asset is increased to its recoverable amount.
\nThat increased amount cannot exceed the carrying amount that would have been determined, net of
\ndepreciation, had no impairment loss been recognised for the asset in prior years. Such reversal is recognised in
\nprofit or loss. After such a reversal the depreciation charge is adjusted in future periods to allocate the asset's
\nrevised carrying amount, less any residual value, on a systematic basis over its remaining useful life.
\n
\n\n\n\n(s) Fair Value Estimation
\nThe fair value of financial assets and financial liabilities must be estimated for recognition and measurement or for
\ndisclosure purposes.
\nThe fair value of financial instruments traded in active markets is based on quoted market prices at the reporting
\ndate. The quoted market price used for financial assets held by the Group is the current bid price; the appropriate
\nquoted market price for financial liabilities is the current ask price.
\nThe net carrying value of trade receivables and payables are short term in nature and approximate their fair values.
\nThe fair value of financial liabilities for disclosure purposes is estimated by discounting the future contractual cash
\nflows at the current market interest rate that is available to the Group for similar financial instruments.
\n
\n\n\n\n(t) Issued and Unissued Capital
\nOrdinary Shares and unissued milestone shares are classified as equity. Issued and paid up capital is recognised at
\nthe fair value of the consideration received by the Company. Incremental costs directly attributable to the issue of
\nnew shares or options are shown in equity as a deduction, net of tax, from the proceeds.
\n
\n\n\n
\n\n\n
\n
\n
\n
\n\n
\n(u) Foreign Currencies
\n\n(i) Functional and presentation currency
\nThe functional currency of each of the Group's entities is measured using the currency of the primary economic
\nenvironment in which that entity operates. The consolidated financial statements are presented in Australian
\ndollars which is the Company's functional and presentation currency.
\n
\n\n\nTransactions and balances
\nForeign currency transactions are translated into functional currency using the exchange rates prevailing at the
\ndate of the transaction. Foreign currency monetary items are translated at the year-end exchange rate. Non-
\nmonetary items measured at historical cost continue to be carried at the exchange rate at the date of the
\ntransaction.
\nExchange differences arising on the translation of monetary items are recognised in the Statement Profit or Loss
\nand other Comprehensive Income.
\nExchange differences arising on the translation of non-monetary items are recognised directly in equity to the
\nextent that the gain or loss is directly recognised in equity, otherwise the exchange difference is recognised in the
\nother Comprehensive Income.
\n(ii) Group companies
\nThe financial results and position of foreign operations whose functional currency is different from the Group's
\npresentation currency are translated as follows:
\n\u2022 assets and liabilities are translated at year-end exchange rates prevailing at that reporting date;
\n\u2022 income and expenses are translated at average exchange rates for the period; and
\n\u2022 items of equity are translated at the historical exchange rates prevailing at the date of the transaction.
\nExchange differences arising on translation of foreign operations are transferred to the group's foreign currency
\ntranslation reserve in the Statement of Financial Position. The accumulated difference is reclassified in the
\nStatement of Profit or Loss and other Comprehensive Income in the period in which the operation is disposed.
\n
\n\n\n\n(v) Share-Based Payments
\nEquity-settled share-based payments are provided to officers, employees, consultants and other advisors. These
\nshare-based payments are measured at the fair value of the equity instrument at the grant date. Fair value is
\ndetermined using the Binomial option pricing model. Further details on how the fair value of equity-settled share-
\nbased payments has been determined can be found in Note 18.
\nThe fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on
\nthe Company's estimate of equity instruments that will eventually vest. At each reporting date, the Company
\nrevises its estimate of the number of equity instruments expected to vest. The impact of the revision of the original
\nestimates, if any, is recognised in profit or loss over the remaining vesting period, with a corresponding adjustment
\nto the option premium reserve.
\nEquity-settled share-based payments may also be provided as consideration for the acquisition of assets. Where
\nOrdinary Shares are issued, the transaction is recorded at fair value based on the quoted price of the Ordinary
\nShares at the grant date. The acquisition is then recorded as an asset or expensed in accordance with accounting
\nstandards. Unvested incentive securities that lapse when non-market conditions are not met are reversed from
\nthe share-based payment reserve to the Statement of Profit or Loss.
\n
\n\n\n\n
(w) Arbitration facility income
\n
Arbitration facility income is recognised when there is reasonable assurance that the Company will comply with
\n
the LFA and the benefits will be received. Arbitration facility income is recognised in profit or loss on a systematic
\n
basis over the periods in which the entity recognises as expenses the related arbitration costs for which the income
\n
is intended to compensate.
\n
\n\n
(x) Use and Revision of Accounting Estimates, Judgements and Assumptions
\nThe preparation of the financial report requires management to make judgements, estimates and assumptions
\nthat affect the application of accounting policies and the reported amounts of assets, liabilities, income and
\nexpenses. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed
\non an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is
\nrevised if the revision affects only that period, or in the period of the revision and future periods if the revision
\naffects both current and future periods.
\n
\n\n\n
\n\n\n
\n
\n1. STATEMENT OF MATERIAL ACCOUNTING POLICIES (Continued)
\n\n(x) Use and Revision of Accounting Estimates, Judgements and Assumptions (Continued)
\nIn particular, information about significant areas of estimation uncertainty and critical judgements in applying
\naccounting policies that have the most significant effect on the amount recognised in the financial statements
\nare described in the following notes:
\n\u2022 Share-Based Payments (Note 18) - The Group initially measures the cost of equity-settled transactions with
\nemployees by reference to the fair value of the equity instrument at the date at which they are granted.
\nEstimating fair value for share-based payment transactions requires the determination of the most
\nappropriate valuation model. This estimate also requires the determination of the most appropriate inputs
\nto the valuation model including the expected life of the share option, volatility and dividend yield. The
\nassumption and models used for estimating the fair value for share-based payment transactions are
\ndisclosed in Note 18.
\n\u2022 Functional currency of foreign operations (Note 21(h)) - determination of the functional currency of foreign
\nsubsidiaries requires judgement regarding the primary currency of labour, material and exploration spend
\nin that subsidiary.
\n
\n\n\n\n(y) Leases
\nThe Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys
\nthe right to control the use of an identified asset for a period of time in exchange for consideration.
\nThe Group applies a single recognition and measurement approach for all leases, except for short-term leases and
\nleases of low-value assets. The Group recognises lease liabilities to make lease payments and right-of-use assets
\nrepresenting the right to use the underlying assets.
\n
\n\n\n
\n\n",
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"language": "en",
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"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
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"value": "GreenX Metals Limited",
"dimensions": {
"concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
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"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
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"Tag198": {
"value": "limited by shares",
"dimensions": {
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"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
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},
"Tag196": {
"value": "Australia",
"dimensions": {
"concept": "ifrs-full:DomicileOfEntity",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag171": {
"value": "\nThe financial report of the Group for the year ended 30 June 2024 was authorised for issue in accordance with a
\nresolution of the Directors.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag164": {
"value": "\n(a) Basis of Preparation
\nThe financial report is a general purpose financial report, which has been prepared in accordance with Australian
\nAccounting Standards (\u201cAASBs\u201d) and other authoritative pronouncements of the Australian Accounting Standards
\nBoard (\u201cAASB\u201d) and the Corporations Act 2001. The Group is a for-profit entity for the purposes of preparing the
\nconsolidated financial statements.
\nThe financial report has been prepared on a historical cost basis, except for certain financial liabilities which have
\nbeen measured at fair value. The financial report is presented in Australian dollars.
\nThe consolidated financial statements have been prepared on a going concern basis which assumes the continuity
\nof normal business activity and the realisation of assets and the settlement of liabilities in the ordinary course of
\nbusiness.
\nThe Group has updated the classification of expenses to make the Statement of Profit or Loss and other
\nComprehensive Income more relevant to users of the financial report. This has resulted in the reclassification of
\nsome items in the prior period, however, has not impacted the reported loss for the period. The Group has also
\nupdated the classification of the Ordinary Shares relating to the calculation for basic and diluted earnings per
\nshare (EPS) for the prior period, this has resulted in an updated EPS. The update was made to ensure EPS is more
\nrelevant to users of the financial report.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
"language": "en",
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"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag204": {
"value": "\n
\n(b) Statement of Compliance
\nThe financial report complies with International Financial Reporting Standards (\u201cIFRS\u201d) as issued by the
\nInternational Accounting Standards Board.
\n\nIn the current year, the Group has adopted all of the new and revised Standards and Interpretations issued by the
\nAASB that are relevant to its operations and effective for the current annual reporting period. The adoption of these
\nnew and revised Standards or Interpretations has had an immaterial impact (if any) on the Group. Any new or
\namended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted.
\nAustralian Accounting Standards and Interpretations that have recently been issued or amended but are not yet
\neffective have not been adopted by the Group for the annual reporting period ended 30 June 2024. Those which
\nmay be relevant to the Group are set out in the table below, but these are not expected to have any significant
\nimpact on the Group\u2019s financial statements as detailed below.
\nStandard/Interpretation
\nApplication
\ndate of
\nstandard
\nApplication
\ndate for Group
\nAASB 2020-1 Amendments to Australian Accounting Standards \u2013
\nClassification of
\nLiabilities as Current or Non-Current
\n1 January 2023 1 July 2023
\nAASB 2021-7(a-c) Amendments to Australian Accounting Standards \u2013 Effective Date of
\nAmendments to AASB 10 and AASB 128 and Editorial Corrections
\n1 January 2025 1 July 2025
\nAASB 18 Presentation and Disclosure in Financial Statements 1 January 2027 1 July 2027
\n
\n\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:StatementOfIFRSCompliance",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag195": {
"value": "\nIn the current year, the Group has adopted all of the new and revised Standards and Interpretations issued by the
\nAASB that are relevant to its operations and effective for the current annual reporting period. The adoption of these
\nnew and revised Standards or Interpretations has had an immaterial impact (if any) on the Group. Any new or
\namended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted.
\nAustralian Accounting Standards and Interpretations that have recently been issued or amended but are not yet
\neffective have not been adopted by the Group for the annual reporting period ended 30 June 2024. Those which
\nmay be relevant to the Group are set out in the table below, but these are not expected to have any significant
\nimpact on the Group\u2019s financial statements as detailed below.
\nStandard/Interpretation
\nApplication
\ndate of
\nstandard
\nApplication
\ndate for Group
\nAASB 2020-1 Amendments to Australian Accounting Standards \u2013
\nClassification of
\nLiabilities as Current or Non-Current
\n1 January 2023 1 July 2023
\nAASB 2021-7(a-c) Amendments to Australian Accounting Standards \u2013 Effective Date of
\nAmendments to AASB 10 and AASB 128 and Editorial Corrections
\n1 January 2025 1 July 2025
\nAASB 18 Presentation and Disclosure in Financial Statements 1 January 2027 1 July 2027
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag178": {
"value": "\n
\n\n(c) Principles of Consolidation
\nThe consolidated financial statements incorporate the assets and liabilities of all subsidiaries of the Company as at
\n30 June 2024 and the results of all subsidiaries for the year then ended.
\nSubsidiaries are all entities (including structured entities) over which the Group has control. The Group controls an
\nentity when the group is exposed to, or has rights to, variable returns from its involvement with the entity and has
\nthe ability to affect those returns through its power to direct the activities of the entity.
\nThe financial statements of the subsidiaries are prepared for the same reporting period as the Company, using
\nconsistent accounting policies. Accounting policies of subsidiaries have been changed where necessary to ensure
\nconsistency with the policies adopted by the Company.
\nSubsidiaries are fully consolidated from the date on which control is transferred to the Company. They are de-
\nconsolidated from the date that control ceases. Intercompany transactions and balances, income and expenses
\nand profits and losses between Group companies, are eliminated.
\n
\n\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag162": {
"value": "\n(c) Principles of Consolidation
\nThe consolidated financial statements incorporate the assets and liabilities of all subsidiaries of the Company as at
\n30 June 2024 and the results of all subsidiaries for the year then ended.
\nSubsidiaries are all entities (including structured entities) over which the Group has control. The Group controls an
\nentity when the group is exposed to, or has rights to, variable returns from its involvement with the entity and has
\nthe ability to affect those returns through its power to direct the activities of the entity.
\nThe financial statements of the subsidiaries are prepared for the same reporting period as the Company, using
\nconsistent accounting policies. Accounting policies of subsidiaries have been changed where necessary to ensure
\nconsistency with the policies adopted by the Company.
\nSubsidiaries are fully consolidated from the date on which control is transferred to the Company. They are de-
\nconsolidated from the date that control ceases. Intercompany transactions and balances, income and expenses
\nand profits and losses between Group companies, are eliminated.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag170": {
"value": "\n(d) Cash and Cash Equivalents
\nCash and cash equivalents include cash on hand, deposits held at call with banks and other short-term highly
\nliquid investments with original maturities of three months or less.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents",
"language": "en",
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"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag179": {
"value": "\n(e) Trade and Other Receivables
\nTrade receivables are initially recognised at the transaction price and subsequently measured at amortised costs
\namount less any expected credit loss (\u201cECL\u201d).
\nReceivables from related parties are initially recognised at fair value and measured at amortised cost and are
\ninterest free.
\nThe Group\u2019s trade and other receivables includes GST and other taxes receivables, interest receivable and security
\ndeposits.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag159": {
"value": "\n
\n
\n\n
\n(f) Financial Assets
\n(i)
\nInitial recognition and measurement
\nFinancial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair value through
\nother comprehensive income (\u201cOCI\u201d), and fair value through profit or loss.
\nThe classification of financial assets at initial recognition depends on the financial asset\u2019s contractual cash flow
\ncharacteristics and the Group\u2019s business model for managing them. The Group initially measures a financial asset
\nat its fair value plus, in the case of a financial asset not at fair value through profit or loss, less transaction costs.
\n(ii)
\nSubsequent measurement
\nFor purposes of subsequent measurement, financial assets are classified in four categories:
\n\u2022 Financial assets at amortised cost;
\n\u2022 Financial assets at fair value through OCI with recycling of cumulative gains and losses (not relevant to the
\nGroup);
\n\u2022 Financial assets designated at fair value through OCI with no recycling of cumulative gains and losses upon
\nderecognition (equity instruments \u2013 not relevant to the Group); and
\n\u2022 Financial assets at fair value through profit or loss (equity instruments \u2013 not relevant to the Group).
\nFinancial assets at amortised cost (debt instruments)
\nThe Group measures financial assets at amortised cost if both of the following conditions are met:
\n\u2022 The financial asset is held within a business model with the objective to hold financial assets in order to
\ncollect contractual cash flows; and
\n\u2022 The contractual terms of the financial asset give rise on specified dates to cash flows that are solely
\npayments of principal and interest on the principal amount outstanding.
\nFinancial assets at amortised cost are subsequently measured using the effective interest rate (\u201cEIR\u201d) method and
\nare subject to impairment. Gains and losses are recognised in profit or loss when the asset is derecognised,
\nmodified or impaired.
\n\nImpairment
\nThe Group recognises an allowance for ECLs for all debt instruments not held at fair value through profit or loss.
\nECLs are based on the difference between the contractual cash flows due in accordance with the contract and all
\nthe cash flows that the Group expects to receive, discounted at an approximation of the original EIR. ECLs are
\nrecognised in two stages. For credit exposures for which there has not been a significant increase in credit risk
\nsince initial recognition, ECLs are provided for credit losses that result from default events that are possible within
\nthe next 12-months (a 12-month ECL). For those credit exposures for which there has been a significant increase in
\ncredit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of
\nthe exposure, irrespective of the timing of the default (a lifetime ECL).
\nFor receivables due in less than 12 months, the Group recognises a loss allowance based on the financial asset\u2019s
\nlifetime ECL at each reporting date.
\nGiven the nature of financial assets held by the Group, it considers a financial asset to be in default when internal
\nor external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full
\nbefore taking into account any credit enhancements held by the Group. A financial asset is written off when there
\nis no reasonable expectation of recovering the contractual cash flows.
\nAt each reporting date, the Group assesses whether financial assets carried at amortised cost are credit impaired.
\nA financial asset is credit-impaired when one or more events that have a detrimental impact on the estimated
\nfuture cash flows of the financial asset have occurred.
\n
\n\n\n
\n\n\n
\n\n\n
\n\n
\n
\n(k) Financial Liabilities
\n(i) Initial recognition and measurement
\nFinancial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans
\nand borrowings (amortised cost) or payables.
\nAll financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables,
\nnet of directly attributable transaction costs.
\nThe Group\u2019s financial liabilities include trade and other payables and financial liabilities at fair value through profit
\nor loss.
\n(ii) Subsequent measurement
\nThe measurement of financial liabilities depends on their classification, as described below:
\nAmortised cost liabilities
\nThis is the category most relevant to the Group. After initial recognition, amortised cost liabilities are subsequently
\nmeasured at amortised cost using the EIR method. Gains and losses are then recognised in profit or loss when the
\nliabilities are derecognised as well as through the EIR amortisation process.
\nAmortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that
\nare an integral part of the EIR. The EIR amortisation is included as finance costs in the statement of profit or loss.
\n\nFinancial liabilities at fair value through profit or loss
\nThis is the category least relevant to the Group. Financial liabilities at fair value through profit or loss include
\nfinancial liabilities held for trading and financial liabilities designated upon initial recognition as at fair value
\nthrough profit or loss.
\nFinancial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near
\nterm.
\nGains or losses on liabilities held for trading are recognised in the statement of profit or loss.
\nFinancial liabilities designated upon initial recognition at fair value through profit or loss are designated at the
\ninitial date of recognition, and only if the criteria in AASB 9 Financial Instruments are satisfied.
\n
\n\n\n\n(iii) Derecognition
\nA financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires.
\nWhen an existing financial liability is replaced by another on substantially different terms, or the terms of an
\nexisting liability are substantially modified, such an exchange or modification is treated as the derecognition of the
\noriginal liability and the recognition of a new liability. The difference in the respective carrying amounts is
\nrecognised in the statement of profit or loss.
\n
\n\n\n
\n\n\n
\n\n",
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"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
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"Tag177": {
"value": "\n
\n(f) Financial Assets
\n(i)
\nInitial recognition and measurement
\nFinancial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair value through
\nother comprehensive income (\u201cOCI\u201d), and fair value through profit or loss.
\nThe classification of financial assets at initial recognition depends on the financial asset\u2019s contractual cash flow
\ncharacteristics and the Group\u2019s business model for managing them. The Group initially measures a financial asset
\nat its fair value plus, in the case of a financial asset not at fair value through profit or loss, less transaction costs.
\n(ii)
\nSubsequent measurement
\nFor purposes of subsequent measurement, financial assets are classified in four categories:
\n\u2022 Financial assets at amortised cost;
\n\u2022 Financial assets at fair value through OCI with recycling of cumulative gains and losses (not relevant to the
\nGroup);
\n\u2022 Financial assets designated at fair value through OCI with no recycling of cumulative gains and losses upon
\nderecognition (equity instruments \u2013 not relevant to the Group); and
\n\u2022 Financial assets at fair value through profit or loss (equity instruments \u2013 not relevant to the Group).
\nFinancial assets at amortised cost (debt instruments)
\nThe Group measures financial assets at amortised cost if both of the following conditions are met:
\n\u2022 The financial asset is held within a business model with the objective to hold financial assets in order to
\ncollect contractual cash flows; and
\n\u2022 The contractual terms of the financial asset give rise on specified dates to cash flows that are solely
\npayments of principal and interest on the principal amount outstanding.
\nFinancial assets at amortised cost are subsequently measured using the effective interest rate (\u201cEIR\u201d) method and
\nare subject to impairment. Gains and losses are recognised in profit or loss when the asset is derecognised,
\nmodified or impaired.
\n\nImpairment
\nThe Group recognises an allowance for ECLs for all debt instruments not held at fair value through profit or loss.
\nECLs are based on the difference between the contractual cash flows due in accordance with the contract and all
\nthe cash flows that the Group expects to receive, discounted at an approximation of the original EIR. ECLs are
\nrecognised in two stages. For credit exposures for which there has not been a significant increase in credit risk
\nsince initial recognition, ECLs are provided for credit losses that result from default events that are possible within
\nthe next 12-months (a 12-month ECL). For those credit exposures for which there has been a significant increase in
\ncredit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of
\nthe exposure, irrespective of the timing of the default (a lifetime ECL).
\nFor receivables due in less than 12 months, the Group recognises a loss allowance based on the financial asset\u2019s
\nlifetime ECL at each reporting date.
\nGiven the nature of financial assets held by the Group, it considers a financial asset to be in default when internal
\nor external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full
\nbefore taking into account any credit enhancements held by the Group. A financial asset is written off when there
\nis no reasonable expectation of recovering the contractual cash flows.
\nAt each reporting date, the Group assesses whether financial assets carried at amortised cost are credit impaired.
\nA financial asset is credit-impaired when one or more events that have a detrimental impact on the estimated
\nfuture cash flows of the financial asset have occurred.
\n
\n\n\n
\n\n",
"dimensions": {
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"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag197": {
"value": "\nImpairment
\nThe Group recognises an allowance for ECLs for all debt instruments not held at fair value through profit or loss.
\nECLs are based on the difference between the contractual cash flows due in accordance with the contract and all
\nthe cash flows that the Group expects to receive, discounted at an approximation of the original EIR. ECLs are
\nrecognised in two stages. For credit exposures for which there has not been a significant increase in credit risk
\nsince initial recognition, ECLs are provided for credit losses that result from default events that are possible within
\nthe next 12-months (a 12-month ECL). For those credit exposures for which there has been a significant increase in
\ncredit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of
\nthe exposure, irrespective of the timing of the default (a lifetime ECL).
\nFor receivables due in less than 12 months, the Group recognises a loss allowance based on the financial asset\u2019s
\nlifetime ECL at each reporting date.
\nGiven the nature of financial assets held by the Group, it considers a financial asset to be in default when internal
\nor external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full
\nbefore taking into account any credit enhancements held by the Group. A financial asset is written off when there
\nis no reasonable expectation of recovering the contractual cash flows.
\nAt each reporting date, the Group assesses whether financial assets carried at amortised cost are credit impaired.
\nA financial asset is credit-impaired when one or more events that have a detrimental impact on the estimated
\nfuture cash flows of the financial asset have occurred.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag182": {
"value": "\n
\n(g) Property, Plant and Equipment
\n(i) Recognition and measurement
\nProperty, plant and equipment is stated at historical cost less accumulated depreciation and any accumulated
\nimpairment losses. Such cost includes the cost of replacing parts that are eligible for capitalisation when the cost
\nof replacing the parts is incurred. Similarly, when each major inspection is performed, its cost is recognised in the
\ncarrying amount of the property, plant and equipment as a replacement only if it is eligible for capitalisation. All
\nother repairs and maintenance are recognised in the Statement of Profit or Loss and other Comprehensive Income
\nas incurred.
\n\n(ii) Depreciation
\nDepreciation is provided on a straight-line basis on all property, plant and equipment.
\n2024 2023
\nMajor depreciation periods (per annum) are:
\nPlant and equipment: 22% - 40% 22% - 40%
\nThe assets\u2019 residual values, useful lives and amortisation methods are reviewed, and adjusted if appropriate, at
\neach financial year end.
\n
\n\n\n(iii) Derecognition
\nAn item of property, plant and equipment is derecognised upon disposal or when no further future economic
\nbenefits are expected from its use or disposal. Impairment of property, plant and equipment are discussed in note
\n1(r).
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag181": {
"value": "\n(ii) Depreciation
\nDepreciation is provided on a straight-line basis on all property, plant and equipment.
\n2024 2023
\nMajor depreciation periods (per annum) are:
\nPlant and equipment: 22% - 40% 22% - 40%
\nThe assets\u2019 residual values, useful lives and amortisation methods are reviewed, and adjusted if appropriate, at
\neach financial year end.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag208": {
"value": "\n(h) Exploration and Evaluation Expenditure
\nExpenditure on exploration and evaluation is accounted for in accordance with the \u2018area of interest\u2019 method.
\nExploration and evaluation expenditure encompasses expenditures incurred by the Group in connection with the
\nexploration for and evaluation of mineral resources before the technical feasibility and commercial viability of
\nextracting a mineral resource are demonstrable.
\nFor each area of interest, expenditure incurred in the acquisition of rights to explore is capitalised, classified as
\ntangible or intangible, and recognised as an exploration and evaluation asset. Exploration and evaluation assets
\nare measured at cost at recognition and are recorded as an asset if:
\n(i) the rights to tenure of the area of interest are current; and
\n(ii) at least one of the following conditions is also met:
\n\u2022 the exploration and evaluation expenditures are expected to be recouped through successful
\ndevelopment and exploitation of the area of interest, or alternatively, by its sale; and
\n\u2022 exploration and evaluation activities in the area of interest have not at the reporting date reached a stage
\nwhich permits a reasonable assessment of the existence or otherwise of economically recoverable
\nreserves, and active and significant operations in, or in relation to, the area of interest are continuing.
\nExploration and evaluation expenditure incurred by the Group subsequent to acquisition of the rights to explore
\nis expensed as incurred, up to costs associated with the preparation of a feasibility study.
\nImpairment
\nCapitalised exploration costs are reviewed each reporting date to establish whether an indication of impairment
\nexists. If any such indication exists, the recoverable amount of the capitalised exploration costs is estimated to
\ndetermine the extent of the impairment loss (if any). Where an impairment loss subsequently reverses, the
\ncarrying amount of the asset is increased to the revised estimate of its recoverable amount, but only to the extent
\nthat the increased carrying amount does not exceed the carrying amount that would have been determined had
\nno impairment loss been recognised for the asset in previous years.
\nWhere a decision is made to proceed with development, accumulated expenditure is tested for impairment and
\ntransferred to development properties, and then amortised over the life of the reserves associated with the area
\nof interest once mining operations have commenced. Recoverability of the carrying amount of the exploration
\nand evaluation assets is dependent on successful development and commercial exploitation, or alternatively, sale
\nof the respective areas of interest.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForExplorationAndEvaluationExpenditures",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag201": {
"value": "\n(i) Payables
\nLiabilities are recognised for amounts to be paid in the future for goods and services received. Trade accounts
\npayable are normally settled within 30 days. Payables are carried at amortised cost.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag169": {
"value": "\n(j) Provisions
\nProvisions are recognised when the Group has a present obligation (legal or constructive) as a result of a past
\nevent, it is probable that an outflow of resources embodying economic benefits will be required to settle the
\nobligation and a reliable estimate can be made of the amount of the obligation.
\nProvisions are measured at the present value of management\u2019s best estimate of the expenditure required to settle
\nthe present obligation at the reporting date. If the effect of the time value of money is material, provisions are
\ndiscounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When
\ndiscounting is used, the increase in the provision due to the passage of time is recognised as a finance cost.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag194": {
"value": "\n
\n
\n(k) Financial Liabilities
\n(i) Initial recognition and measurement
\nFinancial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans
\nand borrowings (amortised cost) or payables.
\nAll financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables,
\nnet of directly attributable transaction costs.
\nThe Group\u2019s financial liabilities include trade and other payables and financial liabilities at fair value through profit
\nor loss.
\n(ii) Subsequent measurement
\nThe measurement of financial liabilities depends on their classification, as described below:
\nAmortised cost liabilities
\nThis is the category most relevant to the Group. After initial recognition, amortised cost liabilities are subsequently
\nmeasured at amortised cost using the EIR method. Gains and losses are then recognised in profit or loss when the
\nliabilities are derecognised as well as through the EIR amortisation process.
\nAmortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that
\nare an integral part of the EIR. The EIR amortisation is included as finance costs in the statement of profit or loss.
\n\nFinancial liabilities at fair value through profit or loss
\nThis is the category least relevant to the Group. Financial liabilities at fair value through profit or loss include
\nfinancial liabilities held for trading and financial liabilities designated upon initial recognition as at fair value
\nthrough profit or loss.
\nFinancial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near
\nterm.
\nGains or losses on liabilities held for trading are recognised in the statement of profit or loss.
\nFinancial liabilities designated upon initial recognition at fair value through profit or loss are designated at the
\ninitial date of recognition, and only if the criteria in AASB 9 Financial Instruments are satisfied.
\n
\n\n\n\n(iii) Derecognition
\nA financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires.
\nWhen an existing financial liability is replaced by another on substantially different terms, or the terms of an
\nexisting liability are substantially modified, such an exchange or modification is treated as the derecognition of the
\noriginal liability and the recognition of a new liability. The difference in the respective carrying amounts is
\nrecognised in the statement of profit or loss.
\n
\n\n\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag210": {
"value": "\nFinancial liabilities at fair value through profit or loss
\nThis is the category least relevant to the Group. Financial liabilities at fair value through profit or loss include
\nfinancial liabilities held for trading and financial liabilities designated upon initial recognition as at fair value
\nthrough profit or loss.
\nFinancial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near
\nterm.
\nGains or losses on liabilities held for trading are recognised in the statement of profit or loss.
\nFinancial liabilities designated upon initial recognition at fair value through profit or loss are designated at the
\ninitial date of recognition, and only if the criteria in AASB 9 Financial Instruments are satisfied.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag205": {
"value": "\n(iii) Derecognition
\nA financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires.
\nWhen an existing financial liability is replaced by another on substantially different terms, or the terms of an
\nexisting liability are substantially modified, such an exchange or modification is treated as the derecognition of the
\noriginal liability and the recognition of a new liability. The difference in the respective carrying amounts is
\nrecognised in the statement of profit or loss.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag167": {
"value": "\n(l) Revenue Recognition
\nRevenue is recognised when control of goods is transferred to the customer at an amount that reflects the
\nconsideration to which the Group expects to be entitled to in exchange for those goods.
\nInterest revenue is recognised as it accrues, taking into account the effective yield on the financial asset.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag163": {
"value": "\n
\n(m) Income Tax
\nThe income tax expense for the period is the tax payable on the current period\u2019s taxable income based on the
\nnational income tax rate for each jurisdiction adjusted by changes in deferred tax assets and liabilities attributable
\nto temporary differences between the tax bases of assets and liabilities and their carrying amounts in the financial
\nstatements, and to unused tax losses.
\n\nDeferred tax assets and liabilities are recognised for temporary differences at the tax rates expected to apply when
\nthe assets are recovered or liabilities are settled, based on those tax rates which are enacted or substantively
\nenacted at balance date for each jurisdiction. The relevant tax rates are applied to the cumulative amounts of
\ndeductible and taxable temporary differences to measure the deferred tax asset or liability. An exception is made
\nfor certain temporary differences arising from the initial recognition of an asset or a liability. No deferred tax asset
\nor liability is recognised in relation to these temporary differences if they arose on goodwill or in a transaction,
\nother than a business combination, that at the time of the transaction did not affect either accounting profit or
\ntaxable profit or loss.
\nDeferred tax liabilities and assets are not recognised for temporary differences between the carrying amount and
\ntax bases of investments in controlled entities where the Company is able to control the timing of the reversal of
\nthe temporary differences and it is probable that the differences will not reverse in the foreseeable future.
\nDeferred tax assets are recognised for deductible temporary differences and unused tax losses only if it is probable
\nthat future taxable amounts will be available to utilise those temporary differences and losses.
\nThe carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the extent
\nthat it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred income
\ntax asset to be utilised.
\nUnrecognised deferred income tax assets are reassessed at each balance date and are recognised to the extent
\nthat it has become probable that future taxable profit will allow the deferred tax asset to be recovered.
\nCurrent and deferred tax balances attributable to amounts recognised directly in equity are also recognised
\ndirectly in equity.
\nDeferred tax assets and deferred tax liabilities are offset only if a legally enforceable right exists to set off current
\ntax assets against tax liabilities and the deferred tax liabilities relate to the same taxable entity and the same
\ntaxation authority.
\n
\n\n\nTax consolidation
\nGreenX Metals Limited and its wholly-owned Australian subsidiaries have formed an income tax consolidated
\ngroup under the tax consolidation regime. Each entity in the tax consolidated group recognises its own current
\nand deferred tax liabilities, except for any deferred tax assets resulting from unused tax losses and tax credits,
\nwhich are immediately assumed by the Company (which is the head entity in the tax consolidated group). The
\ncurrent tax liability of each group entity is then subsequently assumed by the Company. The tax consolidated
\ngroup has entered a tax sharing agreement whereby each company in the Group contributes to the income tax
\npayable in proportion to their contribution to the net profit before tax of the tax consolidated group.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag203": {
"value": "\nDeferred tax assets and liabilities are recognised for temporary differences at the tax rates expected to apply when
\nthe assets are recovered or liabilities are settled, based on those tax rates which are enacted or substantively
\nenacted at balance date for each jurisdiction. The relevant tax rates are applied to the cumulative amounts of
\ndeductible and taxable temporary differences to measure the deferred tax asset or liability. An exception is made
\nfor certain temporary differences arising from the initial recognition of an asset or a liability. No deferred tax asset
\nor liability is recognised in relation to these temporary differences if they arose on goodwill or in a transaction,
\nother than a business combination, that at the time of the transaction did not affect either accounting profit or
\ntaxable profit or loss.
\nDeferred tax liabilities and assets are not recognised for temporary differences between the carrying amount and
\ntax bases of investments in controlled entities where the Company is able to control the timing of the reversal of
\nthe temporary differences and it is probable that the differences will not reverse in the foreseeable future.
\nDeferred tax assets are recognised for deductible temporary differences and unused tax losses only if it is probable
\nthat future taxable amounts will be available to utilise those temporary differences and losses.
\nThe carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the extent
\nthat it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred income
\ntax asset to be utilised.
\nUnrecognised deferred income tax assets are reassessed at each balance date and are recognised to the extent
\nthat it has become probable that future taxable profit will allow the deferred tax asset to be recovered.
\nCurrent and deferred tax balances attributable to amounts recognised directly in equity are also recognised
\ndirectly in equity.
\nDeferred tax assets and deferred tax liabilities are offset only if a legally enforceable right exists to set off current
\ntax assets against tax liabilities and the deferred tax liabilities relate to the same taxable entity and the same
\ntaxation authority.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag173": {
"value": "\n(n) Employee Entitlements
\nProvision is made for the Group\u2019s liability for employee benefits arising from services rendered by employees to
\nbalance date. Employee benefits that are expected to be settled within 12 months have been measured at the
\namounts expected to be paid when the liability is settled, plus related on-costs. Employee benefits payable later
\nthan 12 months have been measured using the projected unit credit valuation method.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag189": {
"value": "\n(o) Earnings per Share
\nBasic earnings per share (\u201cEPS\u201d) is calculated by dividing the net profit attributable to members of the Company
\nfor the reporting period, after excluding any costs of servicing equity, by the weighted average number of Ordinary
\nShares of the Company, adjusted for any bonus issue.
\nDiluted EPS is calculated by dividing the basic EPS earnings, adjusted by the after tax effect of financing costs
\nassociated with dilutive potential Ordinary Shares and the effect on revenues and expenses of conversion to
\nOrdinary Shares associated with dilutive potential Ordinary Shares, by the weighted average number of Ordinary
\nShares and dilutive Ordinary Shares adjusted for any bonus issue.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag191": {
"value": "\n(p) Goods and Services Tax (GST)
\nRevenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred
\nis not recoverable from the Australian Tax Office. In these circumstances the GST is recognised as part of the cost
\nof acquisition of the asset or as part of the expense. Receivables and payables in the statement of financial position
\nare shown inclusive of GST.
\nCash flows are presented in the cash flow statement on a gross basis, except for the GST component of investing
\nand financing activities, which are disclosed as operating cash flows.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag200": {
"value": "\n(r) Impairment of non-current Assets
\nThe Group assesses at each reporting date whether there is an indication that a non-current asset may be
\nimpaired. If any such indication exists, or when annual impairment testing for an asset is required, the Group
\nmakes an estimate of the asset's recoverable amount. An asset's recoverable amount is the higher of its fair value
\nless costs of disposal and its value in use and is determined for an individual asset, unless the asset does not
\ngenerate cash inflows that are largely independent of those from other assets or groups of assets and the asset's
\nvalue in use cannot be estimated to be close to its fair value. In such cases the asset is tested for impairment as
\npart of the cash-generating unit to which it belongs. When the carrying amount of an asset or cash-generating
\nunit exceeds its recoverable amount, the asset or cash-generating unit is considered impaired and is written down
\nto its recoverable amount.
\nIn assessing the value in use, the estimated future cash flows are discounted to their present value using a pre-tax
\ndiscount rate that reflects current market assessments of the time value of money and the risks specific to the
\nasset.
\nAn assessment is also made at each reporting date as to whether there is any indication that previously recognised
\nimpairment losses may no longer exist or may have decreased. If such indication exists, the recoverable amount is
\nestimated. A previously recognised impairment loss is reversed only if there has been a change in the estimates
\nused to determine the asset's recoverable amount since the last impairment loss was recognised. If that is the case
\nthe carrying amount of the asset is increased to its recoverable amount.
\nThat increased amount cannot exceed the carrying amount that would have been determined, net of
\ndepreciation, had no impairment loss been recognised for the asset in prior years. Such reversal is recognised in
\nprofit or loss. After such a reversal the depreciation charge is adjusted in future periods to allocate the asset's
\nrevised carrying amount, less any residual value, on a systematic basis over its remaining useful life.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag259": {
"value": "\n(s) Fair Value Estimation
\nThe fair value of financial assets and financial liabilities must be estimated for recognition and measurement or for
\ndisclosure purposes.
\nThe fair value of financial instruments traded in active markets is based on quoted market prices at the reporting
\ndate. The quoted market price used for financial assets held by the Group is the current bid price; the appropriate
\nquoted market price for financial liabilities is the current ask price.
\nThe net carrying value of trade receivables and payables are short term in nature and approximate their fair values.
\nThe fair value of financial liabilities for disclosure purposes is estimated by discounting the future contractual cash
\nflows at the current market interest rate that is available to the Group for similar financial instruments.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag199": {
"value": "\n(t) Issued and Unissued Capital
\nOrdinary Shares and unissued milestone shares are classified as equity. Issued and paid up capital is recognised at
\nthe fair value of the consideration received by the Company. Incremental costs directly attributable to the issue of
\nnew shares or options are shown in equity as a deduction, net of tax, from the proceeds.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag185": {
"value": "\n
\n(u) Foreign Currencies
\n\n(i) Functional and presentation currency
\nThe functional currency of each of the Group's entities is measured using the currency of the primary economic
\nenvironment in which that entity operates. The consolidated financial statements are presented in Australian
\ndollars which is the Company's functional and presentation currency.
\n
\n\n\nTransactions and balances
\nForeign currency transactions are translated into functional currency using the exchange rates prevailing at the
\ndate of the transaction. Foreign currency monetary items are translated at the year-end exchange rate. Non-
\nmonetary items measured at historical cost continue to be carried at the exchange rate at the date of the
\ntransaction.
\nExchange differences arising on the translation of monetary items are recognised in the Statement Profit or Loss
\nand other Comprehensive Income.
\nExchange differences arising on the translation of non-monetary items are recognised directly in equity to the
\nextent that the gain or loss is directly recognised in equity, otherwise the exchange difference is recognised in the
\nother Comprehensive Income.
\n(ii) Group companies
\nThe financial results and position of foreign operations whose functional currency is different from the Group's
\npresentation currency are translated as follows:
\n\u2022 assets and liabilities are translated at year-end exchange rates prevailing at that reporting date;
\n\u2022 income and expenses are translated at average exchange rates for the period; and
\n\u2022 items of equity are translated at the historical exchange rates prevailing at the date of the transaction.
\nExchange differences arising on translation of foreign operations are transferred to the group's foreign currency
\ntranslation reserve in the Statement of Financial Position. The accumulated difference is reclassified in the
\nStatement of Profit or Loss and other Comprehensive Income in the period in which the operation is disposed.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag206": {
"value": "\n(i) Functional and presentation currency
\nThe functional currency of each of the Group's entities is measured using the currency of the primary economic
\nenvironment in which that entity operates. The consolidated financial statements are presented in Australian
\ndollars which is the Company's functional and presentation currency.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag175": {
"value": "\n(v) Share-Based Payments
\nEquity-settled share-based payments are provided to officers, employees, consultants and other advisors. These
\nshare-based payments are measured at the fair value of the equity instrument at the grant date. Fair value is
\ndetermined using the Binomial option pricing model. Further details on how the fair value of equity-settled share-
\nbased payments has been determined can be found in Note 18.
\nThe fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on
\nthe Company's estimate of equity instruments that will eventually vest. At each reporting date, the Company
\nrevises its estimate of the number of equity instruments expected to vest. The impact of the revision of the original
\nestimates, if any, is recognised in profit or loss over the remaining vesting period, with a corresponding adjustment
\nto the option premium reserve.
\nEquity-settled share-based payments may also be provided as consideration for the acquisition of assets. Where
\nOrdinary Shares are issued, the transaction is recorded at fair value based on the quoted price of the Ordinary
\nShares at the grant date. The acquisition is then recorded as an asset or expensed in accordance with accounting
\nstandards. Unvested incentive securities that lapse when non-market conditions are not met are reversed from
\nthe share-based payment reserve to the Statement of Profit or Loss.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag172": {
"value": "\n(x) Use and Revision of Accounting Estimates, Judgements and Assumptions
\nThe preparation of the financial report requires management to make judgements, estimates and assumptions
\nthat affect the application of accounting policies and the reported amounts of assets, liabilities, income and
\nexpenses. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed
\non an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is
\nrevised if the revision affects only that period, or in the period of the revision and future periods if the revision
\naffects both current and future periods.
\n
\n\n\n(x) Use and Revision of Accounting Estimates, Judgements and Assumptions (Continued)
\nIn particular, information about significant areas of estimation uncertainty and critical judgements in applying
\naccounting policies that have the most significant effect on the amount recognised in the financial statements
\nare described in the following notes:
\n\u2022 Share-Based Payments (Note 18) - The Group initially measures the cost of equity-settled transactions with
\nemployees by reference to the fair value of the equity instrument at the date at which they are granted.
\nEstimating fair value for share-based payment transactions requires the determination of the most
\nappropriate valuation model. This estimate also requires the determination of the most appropriate inputs
\nto the valuation model including the expected life of the share option, volatility and dividend yield. The
\nassumption and models used for estimating the fair value for share-based payment transactions are
\ndisclosed in Note 18.
\n\u2022 Functional currency of foreign operations (Note 21(h)) - determination of the functional currency of foreign
\nsubsidiaries requires judgement regarding the primary currency of labour, material and exploration spend
\nin that subsidiary.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag183": {
"value": "\n(y) Leases
\nThe Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys
\nthe right to control the use of an identified asset for a period of time in exchange for consideration.
\nThe Group applies a single recognition and measurement approach for all leases, except for short-term leases and
\nleases of low-value assets. The Group recognises lease liabilities to make lease payments and right-of-use assets
\nrepresenting the right to use the underlying assets.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag186": {
"value": "\n
\n2. REVENUE AND OTHER INCOME
\n2024 2023
\n$ $
\n\n
\n\n(a)
\nRevenue
\nInterest revenue
\n 448,295
\n
\n150,483
\n
\nGas and
\nproperty lease revenue 2,839
\n
\n162,666
\n
\n451,134
\n
\n313,149
\n
\n\n\n
\n\n\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag202": {
"value": "\n
\n\n(a)
\nRevenue
\nInterest revenue
\n 448,295
\n
\n150,483
\n
\nGas and
\nproperty lease revenue 2,839
\n
\n162,666
\n
\n451,134
\n
\n313,149
\n
\n\n\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag190": {
"value": "\n(a)
\nRevenue
\nInterest revenue
\n 448,295
\n
\n150,483
\n
\nGas and
\nproperty lease revenue 2,839
\n
\n162,666
\n
\n451,134
\n
\n313,149
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag180": {
"value": "\n(b)
\nOther income
\nArbitration finance facility income
\n404,858
\n
\n4,854,562
\n
\nOther
\n 8,870
\n
\n-
\n413,728
\n
\n4,854,562
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag193": {
"value": "\n
\n3. EXPENSES
\n2024 2023
\nNote $ $
\n\n(a)
\nEmployee benefits expense
\nSalaries and wages
\n (1,106,200) (1,219,940)
\n
\nSuperannuation expense
\n (6,160) (5,880)
\n
\nEmployment expenses
\n (1,112,360) (1,225,820)
\n
\nShare
\n-based payment expense 18(a) (42,341) (24,853)
\n
\nEmployment expenses recorded in exploration and evaluation expenses
\n (500,223) (323,400)
\n
\nTotal employment expenses included in profit or loss
\n (1,654,924) (1,574,073)
\n
\n\n\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag207": {
"value": "\n(a)
\nEmployee benefits expense
\nSalaries and wages
\n (1,106,200) (1,219,940)
\n
\nSuperannuation expense
\n (6,160) (5,880)
\n
\nEmployment expenses
\n (1,112,360) (1,225,820)
\n
\nShare
\n-based payment expense 18(a) (42,341) (24,853)
\n
\nEmployment expenses recorded in exploration and evaluation expenses
\n (500,223) (323,400)
\n
\nTotal employment expenses included in profit or loss
\n (1,654,924) (1,574,073)
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag165": {
"value": "\n
\n4. INCOME TAX
\n2024 2023
\n$ $
\n(a)
\nRecognised in the statement of comprehensive income
\nCurrent income tax
\nCurrent income tax benefit in respect of the current year -
\n
\n-
\n
\n\nDeferred income tax
\n
\nRelating to origination and reversal of temporary differences -
\n
\n-
\n
\nIncome tax expense/(benefit) reported in the statement of Profit or Loss and other
\nComprehensive income
\n -
\n
\n-
\n
\n(b)
\nReconciliation between tax expense and accounting loss before income
\ntax
\nAccounting loss before income tax
\n (4,553,934)
\n
\n(3,524,846)
\n
\nAt the domestic income tax rate of 30% (202
\n3: 30%) (1,366,180)
\n
\n(1,057,454)
\n
\nExpenditure not allowable for income tax purposes 909,138
\n
\n1,831,141
\n
\nIncome not assessable for income tax purposes (124,118)
\n
\n(1,473,274)
\n
\nAdjustments in respect of deferred income tax of previous years 69,019
\n
\n1,526
\n
\nDeferred tax assets not brought to account 512,142
\n
\n698,061
\n
\nIncome tax expense/(benefit) reported in the statement of Profit or Loss and other
\nComprehensive income
\n -
\n
\n-
\n
\n(c)
\nDeferred Tax Assets and Liabilities
\nDeferred income tax at 30 June relates to the following:
\nDeferred Tax Liabilities
\n
\nReceivables
\n3,824
\n6,737
\n
\nDeferred tax assets used to offset deferred tax liabilities
\n(3,824)
\n(6,737)
\n
\n-
\n-
\n
\nDeferred Tax Assets
\n
\nAccrued expenditure
\n61,961
\n139,596
\n
\nRight-of-use assets
\n7,582
\n13,754
\n
\nCapital allowances
\n113,585
\n84,785
\n
\nTax losses available to offset against future taxable income
\n6,069,262
\n5,505,024
\n
\nDeferred tax assets used to offset deferred tax liabilities
\n(3,824)
\n(6,737)
\n
\nDeferred tax assets not brought to account (6,248,566
\n)
\n(5,736,422)
\n
\n-
\n-
\n
\nThe benefit of deferred tax assets not brought to account will only be brought to account if:
\n\u2022 future assessable income is derived of a nature and of an amount sufficient to enable the benefit to be
\nrealised;
\n\u2022 the conditions for deductibility imposed by tax legislation continue to be complied with; and
\n\u2022 no changes in tax legislation adversely affect the Group in realising the benefit.
\n
\n\n\n(d) Tax Consolidation
\nThe Company and its wholly-owned Australian resident entities have formed a tax consolidated group and are
\ntherefore taxed as a single entity. The head entity within the tax consolidated group is GreenX Metals Limited.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag160": {
"value": "\nDeferred income tax
\n
\nRelating to origination and reversal of temporary differences -
\n
\n-
\n
\nIncome tax expense/(benefit) reported in the statement of Profit or Loss and other
\nComprehensive income
\n -
\n
\n-
\n
\n(b)
\nReconciliation between tax expense and accounting loss before income
\ntax
\nAccounting loss before income tax
\n (4,553,934)
\n
\n(3,524,846)
\n
\nAt the domestic income tax rate of 30% (202
\n3: 30%) (1,366,180)
\n
\n(1,057,454)
\n
\nExpenditure not allowable for income tax purposes 909,138
\n
\n1,831,141
\n
\nIncome not assessable for income tax purposes (124,118)
\n
\n(1,473,274)
\n
\nAdjustments in respect of deferred income tax of previous years 69,019
\n
\n1,526
\n
\nDeferred tax assets not brought to account 512,142
\n
\n698,061
\n
\nIncome tax expense/(benefit) reported in the statement of Profit or Loss and other
\nComprehensive income
\n -
\n
\n-
\n
\n(c)
\nDeferred Tax Assets and Liabilities
\nDeferred income tax at 30 June relates to the following:
\nDeferred Tax Liabilities
\n
\nReceivables
\n3,824
\n6,737
\n
\nDeferred tax assets used to offset deferred tax liabilities
\n(3,824)
\n(6,737)
\n
\n-
\n-
\n
\nDeferred Tax Assets
\n
\nAccrued expenditure
\n61,961
\n139,596
\n
\nRight-of-use assets
\n7,582
\n13,754
\n
\nCapital allowances
\n113,585
\n84,785
\n
\nTax losses available to offset against future taxable income
\n6,069,262
\n5,505,024
\n
\nDeferred tax assets used to offset deferred tax liabilities
\n(3,824)
\n(6,737)
\n
\nDeferred tax assets not brought to account (6,248,566
\n)
\n(5,736,422)
\n
\n-
\n-
\n
\nThe benefit of deferred tax assets not brought to account will only be brought to account if:
\n\u2022 future assessable income is derived of a nature and of an amount sufficient to enable the benefit to be
\nrealised;
\n\u2022 the conditions for deductibility imposed by tax legislation continue to be complied with; and
\n\u2022 no changes in tax legislation adversely affect the Group in realising the benefit.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag184": {
"value": "\n5. TRADE AND OTHER RECEIVABLES
\n2024 2023
\n$ $
\nTrade receivables
\n 13,652 46,076
\nArbitration finance facility receivable
\n - 9,590
\nI
\nnterest receivable 12,450 22,458
\nDeposits/prepayments
\n 24,442 2,932
\nGST and other receivables
\n 136,019 122,496
\n186,563 203,552
\nNote:
\n1
\nAs at 30 June 2024 (2023: nil), no amounts are past due or impaired.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag166": {
"value": "\nArctic Rift
\nCopper Project
\n$
\nEleonore North
\nGold Project
\n$
\nTotal
\n6. EXPLORATION AND EVALUATION ASSETS
\nCarrying amount at 1 July 2023 7,750,883 - 7,750,883
\nARC Earn-in expenditure
\n2
\n 19,117 - 22,526
\nELN expenditure
\n3
\n - 1,602,906 1,602,906
\nCarrying amount at 30 June 2024
\n1
\n
\n7,770,000 1,602,906 9,372,906
\nCarrying amount at 1 July 2022
\n5,745,590 - 5,745,590
\nARC Earn-in expenditure
\n2
\n
\n2,005,293 - 2,005,293
\nCarrying amount at 30 June 2023
\n1
\n
\n7,750,883 - 7,750,883
\nNote:
\n1
\nThe ultimate recoupment of costs carried forward for exploration and evaluation is dependent on the successful development and commercial
\nexploitation or sale of the respective areas of interest.
\n2
\nGreenX will earn an interest of up 80% in ARC through an EIA between Mineral Investment Pty Ltd (\u201cMIPL\u201d), a wholly owned subsidiary of the
\nCompany.
\nKey terms of the EIA provide:
\n(i) MIPL will earn its interest in ARC by:
\na. spending A$3,500,000 on ARC within three years to earn a 51% interest (First Earn-in Milestone). The First Earn-in Milestone
\nwas met during the period and MIPL has been issued with its 51% interest in ARC subsequent to the end of the year;
\nb. spending a further A$3,500,000 on ARC within four years to earn a further 19% interest (taking the total interest to 70%)
\n(Second Earn-in Milestone); and
\nc. spending a further A$3,000,000 on ARC within five years to earn a further 10% interest (taking the total interest to 80%)
\n(Third Earn-in Milestone).
\n(ii) Post the Third Earn-in Milestone:
\na. Each Party must contribute on a pro rata basis or be diluted.
\nb. If a party dilutes down below 10%, then its interest in ARC automatically converts into a 1.75% Net Smelter Royalty (at this
\nstage GEX can also elect to convert straight to the royalty rather than co-contributing or diluting down).
\n(iii) Further consideration in the form of GreenX equity securities were issued to GEX as follows:
\na. 3 million GreenX shares issued on 8 October 2021 (\u201cARC consideration shares\u201d);
\nb. 5,000,000 Class A performance rights which vest and convert into ordinary shares upon the announcement of an
\nindependently assessed JORC Code inferred resource of at least 250,000 tonnes of copper equivalent at a minimum
\nresource grade of 1% Cu Equivalent (with a cut-off grade of 0.5% Cu equivalent) at ARC and an expiry date 8 October 2026;
\nand
\nc. 6,000,000 Class B performance rights which vest and convert into ordinary shares upon the announcement of an
\nindependently assessed JORC Code inferred resource of at least 500,000 tonnes of copper equivalent at a minimum
\nresource grade of 1% Cu Equivalent (with a cut-off grade of 0.5% Cu equivalent) at ARC and an expiry date 8 October 2026.
\n3
\nIn July 2023, GreenX entered into an option agreement with Greenfields to acquire up to 100% of ELN. Subsequent to the end of the year, the
\nCompany announced that it had entered into a revised option agreement with Greenfields to acquire 100% of the Eleonore North project. As
\nat the date of this report, the transfer of the licence into the Group\u2019s name is pending. GreenX will acquire Eleonore North on revised terms as
\nfollows:
\n(i) an issue of a 1.5% Net Smelter Royalty (\u201cNSR\u201d); plus;
\n(ii) a payment of $300,000 in GreenX shares (escrowed for 12 months from date of issue); and
\n(iii) a further deferred payment of $1,000,000 in cash or shares (with a floor price of A$0.30) in GreenX, at the Company\u2019s election, if GreenX
\ndecides to retain Eleonore North after 31 December 2025 subsequent to having completed further exploration work.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExplorationAndEvaluationAssetsExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag192": {
"value": "\n
\n\n
\n7. PROPERTY, PLANT AND EQUIPMENT
\n\nLand and
\nBuildings
\nPlant and
\nequipment
\nRight-of-use
\nassets Total
\n$ $ $ $
\nCarrying amount at 1 July 2023
\n- 582,720 536,492 1,119,212
\nAdditions
\n- 4,357 - 4,357
\nImpairment
\n- (423,687) - (423,687)
\nDepreciation and amortisation
\n- (155,041) (262,380) (417,421)
\nCarrying amount at 30 June 2024
\n- 8,349 274,112 282,461
\n - at cost
\n2,046 808,447 1,487,519 2,298,012
\n - accumulated depreciation, amortisation and impairment
\n(2,046) (800,098) (1,213,407) (2,015,551)
\nCarrying amount at 1 July 2022
\n9,792 875,832 798,872 1,684,496
\nAdditions
\n- 9,080 - 9,080
\nImpairment reversal/(expense)
\n(8,998) - - (8,998)
\nDepreciation and amortisation (667) (302,189) (262,380) (565,236)
\nForeign exchange differences
\n(127) (3) - (130)
\nCarrying amount at 30 June 2023
\n- 582,720 536,492 1,119,212
\n - at cost
\n2,046 1,227,777 1,487,519 2,717,342
\n - accumulated depreciation and amortisation
\n(2,046) (645,057) (951,027) (1,598,130)
\n
\n\n\n
\n\n\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag209": {
"value": "\n
\n7. PROPERTY, PLANT AND EQUIPMENT
\n\nLand and
\nBuildings
\nPlant and
\nequipment
\nRight-of-use
\nassets Total
\n$ $ $ $
\nCarrying amount at 1 July 2023
\n- 582,720 536,492 1,119,212
\nAdditions
\n- 4,357 - 4,357
\nImpairment
\n- (423,687) - (423,687)
\nDepreciation and amortisation
\n- (155,041) (262,380) (417,421)
\nCarrying amount at 30 June 2024
\n- 8,349 274,112 282,461
\n - at cost
\n2,046 808,447 1,487,519 2,298,012
\n - accumulated depreciation, amortisation and impairment
\n(2,046) (800,098) (1,213,407) (2,015,551)
\nCarrying amount at 1 July 2022
\n9,792 875,832 798,872 1,684,496
\nAdditions
\n- 9,080 - 9,080
\nImpairment reversal/(expense)
\n(8,998) - - (8,998)
\nDepreciation and amortisation (667) (302,189) (262,380) (565,236)
\nForeign exchange differences
\n(127) (3) - (130)
\nCarrying amount at 30 June 2023
\n- 582,720 536,492 1,119,212
\n - at cost
\n2,046 1,227,777 1,487,519 2,717,342
\n - accumulated depreciation and amortisation
\n(2,046) (645,057) (951,027) (1,598,130)
\n
\n\n\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag168": {
"value": "\nLand and
\nBuildings
\nPlant and
\nequipment
\nRight-of-use
\nassets Total
\n$ $ $ $
\nCarrying amount at 1 July 2023
\n- 582,720 536,492 1,119,212
\nAdditions
\n- 4,357 - 4,357
\nImpairment
\n- (423,687) - (423,687)
\nDepreciation and amortisation
\n- (155,041) (262,380) (417,421)
\nCarrying amount at 30 June 2024
\n- 8,349 274,112 282,461
\n - at cost
\n2,046 808,447 1,487,519 2,298,012
\n - accumulated depreciation, amortisation and impairment
\n(2,046) (800,098) (1,213,407) (2,015,551)
\nCarrying amount at 1 July 2022
\n9,792 875,832 798,872 1,684,496
\nAdditions
\n- 9,080 - 9,080
\nImpairment reversal/(expense)
\n(8,998) - - (8,998)
\nDepreciation and amortisation (667) (302,189) (262,380) (565,236)
\nForeign exchange differences
\n(127) (3) - (130)
\nCarrying amount at 30 June 2023
\n- 582,720 536,492 1,119,212
\n - at cost
\n2,046 1,227,777 1,487,519 2,717,342
\n - accumulated depreciation and amortisation
\n(2,046) (645,057) (951,027) (1,598,130)
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag176": {
"value": "\n8. TRADE AND OTHER PAYABLES
\n2024 2023
\n$ $
\nTrade and other payables 719,393 963,974
\nArbitration expenses payable - 9,590
\n719,393 973,564
\nNotes:
\n1
\nTrade payables are non-interest bearing and are normally settled on 30-day terms.
\n2
\nOther payables are non-interest bearing and have an average term of six months.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag161": {
"value": "\n
\n\n9. OTHER FINANCIAL LIABILITIES
\n2024 2023
\n$ $
\n(a) Current Liabilities:
\nLease Liability
\n1
\n 299,385 281,443
\n(b) Non-Current Liabilities:
\nLease Liability
\n1
\n - 300,897
\nOther 3,195 -
\n3,195 300,897
\nNote:
\n1 The Company has a lease agreement for the rental of a property. Refer to Note 7 for the carrying amount of the right of use asset relating to
\nthe lease. The following are amounts recognised in the Statement of Profit and Loss: (i) amortisation expense of right of use asset $262,380
\n(2023: $262,380); (ii) interest expense on lease liabilities of $32,474 (2023: $47,207); and (iii) rent expense of $253,396 (2023: 297,417).
\n
\n\n\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag188": {
"value": "\n9. OTHER FINANCIAL LIABILITIES
\n2024 2023
\n$ $
\n(a) Current Liabilities:
\nLease Liability
\n1
\n 299,385 281,443
\n(b) Non-Current Liabilities:
\nLease Liability
\n1
\n - 300,897
\nOther 3,195 -
\n3,195 300,897
\nNote:
\n1 The Company has a lease agreement for the rental of a property. Refer to Note 7 for the carrying amount of the right of use asset relating to
\nthe lease. The following are amounts recognised in the Statement of Profit and Loss: (i) amortisation expense of right of use asset $262,380
\n(2023: $262,380); (ii) interest expense on lease liabilities of $32,474 (2023: $47,207); and (iii) rent expense of $253,396 (2023: 297,417).
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag262": {
"value": "\n10. PROVISIONS
\n2024
\n$
\n2023
\n$
\n(a) Current Provisions:
\nProvisions for the protection against mining damage at Debiensko
\n1
\n724,174 390,841
\nProvision for closure of gas project
\n2
\n 26,982 54,336
\nAnnual leave provision 9,185 5,680
\n760,341 450,857
\n(b) Non-Current Provisions:
\nProvisions for the protection against mining damage at Debiensko
\n1
\n274,231 210,399
\n274,231 210,399
\nNotes:
\n1
\nAs Debiensko was previously an operating mine, the Group has provided for the pay out of mining land damages to surrounding land owners
\nwho have made a legitimate legal claim under Polish law.
\n2
\nDuring the prior year, the Company completed the sale of the Kaczyce 1 licence infrastructure to a third party following the expiry of the licence.
\n
\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag261": {
"value": "\n
\n\n11. CONTRIBUTED EQUITY
\n2024 2023
\nNote $ $
\n(a) Issued and Unissued Capital
\n278,901,032 (2023: 267,674,439) fully paid Ordinary Shares 11(b) 89,918,183 83,317,501
\n
\nLoan Note 2 exchangeable into fully paid Ordinary Shares at $0.46 per share,
\nnet of transaction costs
\n1
\n - 2,600,012
\nTotal Contributed Equity 89,918,183 85,917,513
\n
\nNote:
\n1
\nOn 2 July 2017, GreenX and CD Capital completed an investment of US$2.0 million (A$2.6 million) in the form of the non-redeemable, non-
\ninterest-bearing convertible Loan Note 2. During the financial year, the Loan Note 2 was converted into 5,711,805 ordinary shares in GreenX.
\n(b) Movements in Ordinary Shares During the Past Two Years Were as Follows:
\nDate Details
\nNumber of
\nOrdinary Shares $
\n1 Jul 2023 Opening balance 267,674,439 83,317,501
\n24 Jul 2023 Issue of Placing Shares 5,204,500 4,163,600
\n1 Nov 2023 Exercise of $0.45 incentive options (cashless) 310,288 -
\n22 May 2024 Conversion of Loan Note 2 5,711,805 2,600,012
\nJul 23 to Jun 24
\nTransfer from share-based payment reserve upon exercise of
\noptions - 64,740
\nJul 23 to Jun 24 Share issue costs - (227,670)
\n30 Jun 2024 Closing balance 278,901,032 89,918,183
\n1 Jul 22 Opening balance 253,620,464 75,810,040
\n14 Mar 2023 Issue of Placing Shares 14,053,975 7,729,686
\nJul 22 to Jun 23 Share issue costs - (222,225)
\n30 Jun 23 Closing balance 267,674,439 83,317,501
\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n
\n\n(c) Rights Attaching to Ordinary Shares
\nThe rights attaching to fully paid Ordinary Shares arise from a combination of the Company's Constitution, statute
\nand general law.
\nOrdinary Shares issued following the exercise of Incentive Options in accordance with Note 12(d) or the conversion
\nof Performance Rights in accordance with Note 12(c) will rank equally in all respects with the Company's existing
\nOrdinary Shares.
\nCopies of the Company's Constitution are available for inspection during business hours at the Company's
\nregistered office. The clauses of the Constitution contain the internal rules of the Company and define matters
\nsuch as the rights, duties and powers of its shareholders and directors, including provisions to the following effect
\n(when read in conjunction with the Corporations Act 2001 or Listing Rules).
\n(i) Shares
\nThe issue of shares in the capital of the Company and options over unissued shares by the Company is under the
\ncontrol of the Directors, subject to the Corporations Act 2001, ASX Listing Rules and any rights attached to any
\nspecial class of shares.
\n(ii) Meetings of Members
\nDirectors may call a meeting of members whenever they think fit. Members may call a meeting as provided by the
\nCorporations Act 2001. The Constitution contains provisions prescribing the content requirements of notices of
\nmeetings of members and all members are entitled to a notice of meeting. A meeting may be held in two or more
\nplaces linked together by audio-visual communication devices. A quorum for a meeting of members is two
\nshareholders.
\nThe Company holds annual general meetings in accordance with the Corporations Act 2001 and the Listing Rules.
\n(iii) Voting
\nSubject to any rights or restrictions at the time being attached to any shares or class of shares of the Company,
\neach member of the Company is entitled to receive notice of, attend and vote at a general meeting. Resolutions
\nof members will be decided by a poll.
\nOn a poll each eligible member has one vote for each fully paid share held and a fraction of a vote for each partly
\npaid share determined by the amount paid up on that share.
\n(iv) Changes to the Constitution
\nThe Company's Constitution can only be amended by a special resolution passed by at least three quarters of the
\nmembers present and voting at a general meeting of the Company. At least 28 days' written notice specifying the
\nintention to propose the resolution as a special resolution must be given.
\n(v) Listing Rules
\nProvided the Company remains admitted to the Official List, then despite anything in its Constitution, no act may
\nbe done that is prohibited by the Listing Rules, and authority is given for acts required to be done by the Listing
\nRules. The Company's Constitution will be deemed to comply with the Listing Rules as amended from time to
\ntime.
\n
\n\n\n\n\n\n\n\n\n\n\n12. RESERVES
\n2024 2023
\nNote $ $
\nShare-based-payments reserve 12(b) 4,560,793 4,583,192
\nForeign currency translation reserve 185,998 189,517
\nOther equity reserve 6,211,258 6,207,493
\n10,958,049 10,980,202
\n(a) Nature and Purpose of Reserves
\n(i) Share-based payments reserve
\nThe share-based payments reserve is used to record the fair value of Incentive Options and Performance Rights
\nissued by the Group.
\n(ii) Foreign currency translation reserve
\nExchange differences arising on translation of foreign controlled entities are taken to the foreign currency
\ntranslation reserve. The reserve is recognised in the Statement of Profit or Loss and other Comprehensive Income
\nwhen the net investment is disposed of.
\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n\n12. RESERVES (Continued)
\n(a) Nature and Purpose of Reserves (Continued)
\n(iii) Other equity reserve
\nEquity transactions are recorded in the other equity reserve (e.g. acquisitions of non-controlling interests). In Prior
\nyears, unlisted options valued at $6.2 million accounted for as equity that expired, were transferred to the other
\nequity reserve.
\n(b) Movements in share-based payments reserve during the past two years were as follows:
\nDate Details
\nNumber of
\nIncentive
\nOptions
\nNumber of
\nPerformance
\nRights $
\n1 Jul 2023 Opening Balance 10,900,000 11,000,000 4,583,192
\n1 Nov 23 Exercise of $0.45 incentive options (cashless) (600,000) - (64,740)
\nJul 23 to Jun 24 Share-based payments expense - - 42,341
\n30 Jun 2024 Closing balance 10,300,000 11,000,000 4,560,793
\n1 Jul 2022 Opening balance 10,750,000 11,000,000 4,558,339
\n15 Mar 2023 Issue of Incentive Options 150,000 - -
\nJul 22 to Jun 23 Share-based payments expense - - 24,853
\n30 Jun 2023 Closing balance 10,900,000 11,000,000 4,583,192
\n(c) Terms and Conditions of Performance Rights
\nThe unlisted performance rights (\u201cPerformance Rights\u201d) were granted in prior years based upon the following
\nterms and conditions:
\n\u2022 Each Performance Right automatically converts into one Ordinary Share upon vesting of the Performance
\nRight;
\n\u2022 Each Performance Right is subject to performance conditions (as determined by the Board from time to
\ntime) which must be satisfied in order for the Performance Right to vest;
\n\u2022 The Performance Rights outstanding at the end of the financial year have the following performance
\nconditions and expiry dates:
\no 5,000,000 Class A performance rights which vest and convert into ordinary shares upon the
\nannouncement of an independently assessed JORC Code inferred resource of at least 250,000
\ntonnes of copper equivalent at a minimum resource grade of 1% Cu Equivalent (with a cut-off grade
\nof 0.5% Cu equivalent) at ARC and an expiry date 8 October 2026; and
\no 6,000,000 Class B performance rights which vest and convert into ordinary shares upon the
\nannouncement of an independently assessed JORC Code inferred resource of at least 500,000
\ntonnes of copper equivalent at a minimum resource grade of 1% Cu Equivalent(with a cut-off grade
\nof 0.5% Cu equivalent) at ARC and an expiry date 8 October 2026.
\n\u2022 Ordinary Shares issued on conversion of the Performance Rights rank equally with the then Ordinary
\nShares of the Company;
\n\u2022 Application will be made by the Company to ASX for official quotation of the Ordinary Shares issued upon
\nconversion of the Performance Rights;
\n\u2022 If there is any reconstruction of the issued share capital of the Company, the rights of the Performance
\nRight holders may be varied to comply with the ASX Listing Rules which apply to the reconstruction at the
\ntime of the reconstruction;
\n\u2022 No application for quotation of the Performance Rights will be made by the Company; and
\n\u2022 Without approval of the Board, Performance Rights may not be transferred, assigned or novated, except,
\nupon death, a participant's legal personal representative may elect to be registered as the new holder of
\nsuch Performance Rights and exercise any rights in respect of them.
\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n\n(d) Terms and Conditions of Incentive Options
\nThe unlisted incentive options (\u201cIncentive Options\u201d) were granted based upon the following terms and conditions:
\n\u2022 Each Incentive Option entitles the holder to the right to subscribe for one Share upon the exercise of each
\nIncentive Option;
\n\u2022 The Incentive Options granted as share-based payments during the financial year have the following
\nexercise prices and expiry dates:
\no 4,775,000 Incentive Options exercisable at $0.45 on or before 30 November 2025; and
\no 5,525,000 Incentive Options exercisable at $0.55 on or before 30 November 2026.
\n\u2022 The Incentive Options are exercisable at any time prior to the Expiry Date, subject to vesting conditions
\nbeing satisfied (if applicable);
\n\u2022 Shares issued on exercise of the Incentive Options rank equally with the then Shares of the Company;
\n\u2022 Application will be made by the Company to ASX for official quotation of the Shares issued upon the
\nexercise of the Incentive Options;
\n\u2022 If there is any reconstruction of the issued share capital of the Company, the rights of the Incentive Option
\nholders may be varied to comply with the ASX Listing Rules which apply to the reconstruction at the time
\nof the reconstruction; and
\n\u2022 No application for quotation of the Incentive Options will be made by the Company.
\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag275": {
"value": "\n11. CONTRIBUTED EQUITY
\n2024 2023
\nNote $ $
\n(a) Issued and Unissued Capital
\n278,901,032 (2023: 267,674,439) fully paid Ordinary Shares 11(b) 89,918,183 83,317,501
\n
\nLoan Note 2 exchangeable into fully paid Ordinary Shares at $0.46 per share,
\nnet of transaction costs
\n1
\n - 2,600,012
\nTotal Contributed Equity 89,918,183 85,917,513
\n
\nNote:
\n1
\nOn 2 July 2017, GreenX and CD Capital completed an investment of US$2.0 million (A$2.6 million) in the form of the non-redeemable, non-
\ninterest-bearing convertible Loan Note 2. During the financial year, the Loan Note 2 was converted into 5,711,805 ordinary shares in GreenX.
\n(b) Movements in Ordinary Shares During the Past Two Years Were as Follows:
\nDate Details
\nNumber of
\nOrdinary Shares $
\n1 Jul 2023 Opening balance 267,674,439 83,317,501
\n24 Jul 2023 Issue of Placing Shares 5,204,500 4,163,600
\n1 Nov 2023 Exercise of $0.45 incentive options (cashless) 310,288 -
\n22 May 2024 Conversion of Loan Note 2 5,711,805 2,600,012
\nJul 23 to Jun 24
\nTransfer from share-based payment reserve upon exercise of
\noptions - 64,740
\nJul 23 to Jun 24 Share issue costs - (227,670)
\n30 Jun 2024 Closing balance 278,901,032 89,918,183
\n1 Jul 22 Opening balance 253,620,464 75,810,040
\n14 Mar 2023 Issue of Placing Shares 14,053,975 7,729,686
\nJul 22 to Jun 23 Share issue costs - (222,225)
\n30 Jun 23 Closing balance 267,674,439 83,317,501
\n
\n\n\n\n\n\n\n\n\n\n(c) Rights Attaching to Ordinary Shares
\nThe rights attaching to fully paid Ordinary Shares arise from a combination of the Company's Constitution, statute
\nand general law.
\nOrdinary Shares issued following the exercise of Incentive Options in accordance with Note 12(d) or the conversion
\nof Performance Rights in accordance with Note 12(c) will rank equally in all respects with the Company's existing
\nOrdinary Shares.
\nCopies of the Company's Constitution are available for inspection during business hours at the Company's
\nregistered office. The clauses of the Constitution contain the internal rules of the Company and define matters
\nsuch as the rights, duties and powers of its shareholders and directors, including provisions to the following effect
\n(when read in conjunction with the Corporations Act 2001 or Listing Rules).
\n(i) Shares
\nThe issue of shares in the capital of the Company and options over unissued shares by the Company is under the
\ncontrol of the Directors, subject to the Corporations Act 2001, ASX Listing Rules and any rights attached to any
\nspecial class of shares.
\n(ii) Meetings of Members
\nDirectors may call a meeting of members whenever they think fit. Members may call a meeting as provided by the
\nCorporations Act 2001. The Constitution contains provisions prescribing the content requirements of notices of
\nmeetings of members and all members are entitled to a notice of meeting. A meeting may be held in two or more
\nplaces linked together by audio-visual communication devices. A quorum for a meeting of members is two
\nshareholders.
\nThe Company holds annual general meetings in accordance with the Corporations Act 2001 and the Listing Rules.
\n(iii) Voting
\nSubject to any rights or restrictions at the time being attached to any shares or class of shares of the Company,
\neach member of the Company is entitled to receive notice of, attend and vote at a general meeting. Resolutions
\nof members will be decided by a poll.
\nOn a poll each eligible member has one vote for each fully paid share held and a fraction of a vote for each partly
\npaid share determined by the amount paid up on that share.
\n(iv) Changes to the Constitution
\nThe Company's Constitution can only be amended by a special resolution passed by at least three quarters of the
\nmembers present and voting at a general meeting of the Company. At least 28 days' written notice specifying the
\nintention to propose the resolution as a special resolution must be given.
\n(v) Listing Rules
\nProvided the Company remains admitted to the Official List, then despite anything in its Constitution, no act may
\nbe done that is prohibited by the Listing Rules, and authority is given for acts required to be done by the Listing
\nRules. The Company's Constitution will be deemed to comply with the Listing Rules as amended from time to
\ntime.
\n
\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag276": {
"value": "\n12. RESERVES
\n2024 2023
\nNote $ $
\nShare-based-payments reserve 12(b) 4,560,793 4,583,192
\nForeign currency translation reserve 185,998 189,517
\nOther equity reserve 6,211,258 6,207,493
\n10,958,049 10,980,202
\n(a) Nature and Purpose of Reserves
\n(i) Share-based payments reserve
\nThe share-based payments reserve is used to record the fair value of Incentive Options and Performance Rights
\nissued by the Group.
\n(ii) Foreign currency translation reserve
\nExchange differences arising on translation of foreign controlled entities are taken to the foreign currency
\ntranslation reserve. The reserve is recognised in the Statement of Profit or Loss and other Comprehensive Income
\nwhen the net investment is disposed of.
\n
\n\n\n\n\n\n\n\n\n\n12. RESERVES (Continued)
\n(a) Nature and Purpose of Reserves (Continued)
\n(iii) Other equity reserve
\nEquity transactions are recorded in the other equity reserve (e.g. acquisitions of non-controlling interests). In Prior
\nyears, unlisted options valued at $6.2 million accounted for as equity that expired, were transferred to the other
\nequity reserve.
\n(b) Movements in share-based payments reserve during the past two years were as follows:
\nDate Details
\nNumber of
\nIncentive
\nOptions
\nNumber of
\nPerformance
\nRights $
\n1 Jul 2023 Opening Balance 10,900,000 11,000,000 4,583,192
\n1 Nov 23 Exercise of $0.45 incentive options (cashless) (600,000) - (64,740)
\nJul 23 to Jun 24 Share-based payments expense - - 42,341
\n30 Jun 2024 Closing balance 10,300,000 11,000,000 4,560,793
\n1 Jul 2022 Opening balance 10,750,000 11,000,000 4,558,339
\n15 Mar 2023 Issue of Incentive Options 150,000 - -
\nJul 22 to Jun 23 Share-based payments expense - - 24,853
\n30 Jun 2023 Closing balance 10,900,000 11,000,000 4,583,192
\n(c) Terms and Conditions of Performance Rights
\nThe unlisted performance rights (\u201cPerformance Rights\u201d) were granted in prior years based upon the following
\nterms and conditions:
\n\u2022 Each Performance Right automatically converts into one Ordinary Share upon vesting of the Performance
\nRight;
\n\u2022 Each Performance Right is subject to performance conditions (as determined by the Board from time to
\ntime) which must be satisfied in order for the Performance Right to vest;
\n\u2022 The Performance Rights outstanding at the end of the financial year have the following performance
\nconditions and expiry dates:
\no 5,000,000 Class A performance rights which vest and convert into ordinary shares upon the
\nannouncement of an independently assessed JORC Code inferred resource of at least 250,000
\ntonnes of copper equivalent at a minimum resource grade of 1% Cu Equivalent (with a cut-off grade
\nof 0.5% Cu equivalent) at ARC and an expiry date 8 October 2026; and
\no 6,000,000 Class B performance rights which vest and convert into ordinary shares upon the
\nannouncement of an independently assessed JORC Code inferred resource of at least 500,000
\ntonnes of copper equivalent at a minimum resource grade of 1% Cu Equivalent(with a cut-off grade
\nof 0.5% Cu equivalent) at ARC and an expiry date 8 October 2026.
\n\u2022 Ordinary Shares issued on conversion of the Performance Rights rank equally with the then Ordinary
\nShares of the Company;
\n\u2022 Application will be made by the Company to ASX for official quotation of the Ordinary Shares issued upon
\nconversion of the Performance Rights;
\n\u2022 If there is any reconstruction of the issued share capital of the Company, the rights of the Performance
\nRight holders may be varied to comply with the ASX Listing Rules which apply to the reconstruction at the
\ntime of the reconstruction;
\n\u2022 No application for quotation of the Performance Rights will be made by the Company; and
\n\u2022 Without approval of the Board, Performance Rights may not be transferred, assigned or novated, except,
\nupon death, a participant's legal personal representative may elect to be registered as the new holder of
\nsuch Performance Rights and exercise any rights in respect of them.
\n
\n\n\n\n\n\n\n\n\n\n(d) Terms and Conditions of Incentive Options
\nThe unlisted incentive options (\u201cIncentive Options\u201d) were granted based upon the following terms and conditions:
\n\u2022 Each Incentive Option entitles the holder to the right to subscribe for one Share upon the exercise of each
\nIncentive Option;
\n\u2022 The Incentive Options granted as share-based payments during the financial year have the following
\nexercise prices and expiry dates:
\no 4,775,000 Incentive Options exercisable at $0.45 on or before 30 November 2025; and
\no 5,525,000 Incentive Options exercisable at $0.55 on or before 30 November 2026.
\n\u2022 The Incentive Options are exercisable at any time prior to the Expiry Date, subject to vesting conditions
\nbeing satisfied (if applicable);
\n\u2022 Shares issued on exercise of the Incentive Options rank equally with the then Shares of the Company;
\n\u2022 Application will be made by the Company to ASX for official quotation of the Shares issued upon the
\nexercise of the Incentive Options;
\n\u2022 If there is any reconstruction of the issued share capital of the Company, the rights of the Incentive Option
\nholders may be varied to comply with the ASX Listing Rules which apply to the reconstruction at the time
\nof the reconstruction; and
\n\u2022 No application for quotation of the Incentive Options will be made by the Company.
\n
\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag268": {
"value": "\n13. EARNINGS PER SHARE
\nThe following reflects the income and share data used in the calculations of basic and diluted earnings per share:
\n2024
\n$
\n2023
\n$
\nNet loss attributable to members of the Parent used in calculating basic and
\ndiluted earnings per share
\n(4,553,934) (3,524,846)
\nNumber of
\nOrdinary Shares
\n2024
\nNumber of
\nOrdinary Shares
\n2023
\nWeighted average number of Ordinary Shares used in calculating basic and diluted
\nloss per share
\n273,382,132 257,817,404
\n(a) Non-Dilutive Securities
\nAs at 30 June 2024, there were 10,300,000 unlisted Options and 11,000,000 unlisted Performance Rights on issue
\n(which represent 21,300,000 potential Ordinary Shares) which were not considered dilutive as they would decrease
\nthe loss per share.
\n(b) Conversions, Calls, Subscriptions or Issues after 30 June 2024
\nThere have been no other conversions to, calls of, or subscriptions for Ordinary Shares or issues of potential
\nOrdinary Shares since the reporting date and before the completion of this financial report.
\n
\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:EarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag266": {
"value": "\n
\n
\n14. STATEMENT OF CASH FLOWS
\n(a) Reconciliation of the Profit after Tax to the Net Cash Flows from Operations
\n2024 2023
\n$ $
\nNet loss for the year
\n(4,553,934)
\n(3,524,846)
\n
\nAdjustments
\nDepreciation and amortisation 417,421
\n
\n566,387
\n
\nShare-based payment expense 42,341
\n
\n24,853
\n
\nUnrealised foreign exchange movement -
\n
\n56,338
\n
\nImpairment of property, plant and equipment 423,687
\n
\n-
\n
\nNon-cash income (413,728)
\n
\n(3,164,691)
\n
\nNon-cash expenditure 467,326
\n
\n2,849,309
\n
\nChange in operating assets and liabilities
\n(Increase)/decrease in trade and other receivables
\n4,060
\n(49,894)
\n
\nIncrease/(decrease) in trade and other payables 122,711
\n
\n643,772
\n
\nNet cash outflow from operating activities (3,490,116)
\n
\n(2,598,772)
\n
\n\n(b) Reconciliation of Cash
\nCash at bank and on hand 3,170,793
\n
\n4,174,728
\n
\nBank short term deposits
\n4,000,000
\n4,500,000
\n
\n7,170,793
\n
\n8,674,728
\n(c) Non-cash Financing and Investment Activities
\nAn amount of $404,858 (2023: $4,854,562) was recognised as arbitration related income. These amounts relate to
\nthe reimbursement of legal, tribunal and external expert costs relating to the Claim. $404,858 (2023: $3,602,148) of
\nthese reimbursed amounts were paid directly by the Claim funder to the relevant supplier.
\nAn amount of $404,858 (2023: $4,963,816) was recognised as arbitration related expense. These amounts relate to
\nlegal, tribunal and external expert costs relating to the Claim. $404,858 (2023: $3,602,148) of these costs were paid
\ndirectly by the Claim funder to the relevant supplier.
\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag270": {
"value": "\n(b) Reconciliation of Cash
\nCash at bank and on hand 3,170,793
\n
\n4,174,728
\n
\nBank short term deposits
\n4,000,000
\n4,500,000
\n
\n7,170,793
\n
\n8,674,728
\n(c) Non-cash Financing and Investment Activities
\nAn amount of $404,858 (2023: $4,854,562) was recognised as arbitration related income. These amounts relate to
\nthe reimbursement of legal, tribunal and external expert costs relating to the Claim. $404,858 (2023: $3,602,148) of
\nthese reimbursed amounts were paid directly by the Claim funder to the relevant supplier.
\nAn amount of $404,858 (2023: $4,963,816) was recognised as arbitration related expense. These amounts relate to
\nlegal, tribunal and external expert costs relating to the Claim. $404,858 (2023: $3,602,148) of these costs were paid
\ndirectly by the Claim funder to the relevant supplier.
\n
\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag272": {
"value": "\n
\n15. RELATED PARTIES
\n\n(a) Subsidiaries
\n% Equity Interest
\nName
\n
\nCountry of
\nIncorporation
\n2024
\n%
\n2023
\n%
\nMineral Investments Pty Ltd Australia 100 100
\nPDZ Holdings Pty Ltd
\nAustralia
\n100 100
\nPDZ (UK) Limited
\nUK
\n100 100
\nPD CO Holdings (UK) Limited UK 100 100
\nPD Co Sp. z o.o.
\nPoland
\n100 100
\nKarbonia S.A.
\nPoland
\n100 100
\nARC Joint Venture Company ApS Greenland -
\n1
\n-
\nNote:
\n1
\nPursuant to the earn-in agreement in relation to ARC, the Group met the First Earn-in Milestone during the year and was entitled to its 51%
\ninterest in the ARC Joint Venture Company ApS which only occurred subsequent to the end of the year.
\n
\n\n\n\n\n\n\n\n\n\n(b) Ultimate Parent
\nGreenX Metals Limited is the ultimate parent of the Group.
\n
\n(c) Transactions with Related Parties
\nBalances and transactions between the Company and its subsidiaries, which are related parties of the Company,
\nhave been eliminated on consolidation and are not disclosed in this note. Transactions with KMP, including
\nremuneration, are included at Note 16 below.
\n
\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag282": {
"value": "\n(a) Subsidiaries
\n% Equity Interest
\nName
\n
\nCountry of
\nIncorporation
\n2024
\n%
\n2023
\n%
\nMineral Investments Pty Ltd Australia 100 100
\nPDZ Holdings Pty Ltd
\nAustralia
\n100 100
\nPDZ (UK) Limited
\nUK
\n100 100
\nPD CO Holdings (UK) Limited UK 100 100
\nPD Co Sp. z o.o.
\nPoland
\n100 100
\nKarbonia S.A.
\nPoland
\n100 100
\nARC Joint Venture Company ApS Greenland -
\n1
\n-
\nNote:
\n1
\nPursuant to the earn-in agreement in relation to ARC, the Group met the First Earn-in Milestone during the year and was entitled to its 51%
\ninterest in the ARC Joint Venture Company ApS which only occurred subsequent to the end of the year.
\n
\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag281": {
"value": "Australia",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag277": {
"value": "Australia",
"dimensions": {
"concept": "ifrs-full:PrincipalPlaceOfBusiness",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag283": {
"value": "GreenX Metals Limited",
"dimensions": {
"concept": "ifrs-full:NameOfUltimateParentOfGroup",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag279": {
"value": "\n16. KEY MANAGEMENT PERSONNEL
\n(a) Details of KMP
\nThe KMP of the Group during or since the end of the financial year were as follows:
\nCurrent Directors
\nMr Ian Middlemas Chairman
\nMr Benjamin Stoikovich Director and CEO
\nMr Garry Hemming Non-Executive Director
\nMr Mark Pearce Non-Executive Director
\nOther KMP
\nMr Simon Kersey Chief Financial Officer
\nMr Dylan Browne Company Secretary
\nUnless otherwise disclosed, the KMP held their position from 1 July 2023 until the date of this report.
\n2024 2023
\n$ $
\nShort-term employee benefits 962,392 851,987
\n
\nPost-employment benefits 6,160 5,880
\n
\nShare-based payments - -
\n
\nTotal compensation 968,552 857,867
\n
\n(b) Loans from KMP
\nNo loans were provided to or received from KMP during the year ended 30 June 2024 (2023: Nil).
\n(c) Other Transactions
\nApollo Group, a company of which Mr Mark Pearce is a Director and beneficial shareholder, was paid or is payable
\n$320,000 (2023: $288,000) for the provision of serviced office facilities and administrative, accounting, company
\nsecretarial and transaction services to the Group. This item has been recognised as an expense in the Statement
\nof Profit or Loss and other Comprehensive Income. The amount is based on a current monthly retainer of $25,000
\n(2023: $24,000) due and payable in advance, with no fixed term, and is able to be terminated by either party with
\none month\u2019s notice. Effective 1 July 2024, the monthly fee has been increased to $26,000.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag273": {
"value": "\n17. PARENT ENTITY DISCLOSURES
\n2024 2023
\n$ $
\n(a) Financial Position
\nAssets
\nCurrent assets 7,131,357 8,625,030
\nNon-current assets 4,767,545 5,027,833
\nTotal assets 11,898,902 13,652,862
\nLiabilities
\nCurrent liabilities 853,581 920,186
\nNon-Current liabilities - 300,897
\nTotal liabilities 853,581 1,221,082
\nEquity
\nContributed equity 89,945,495 83,317,396
\nReserves 10,768,286 10,790,685
\nAccumulated losses (89,668,460) (81,676,301)
\nTotal equity 11,045,321 12,431,780
\n(b) Financial Performance
\nLoss for the year (7,992,160) (3,363,950)
\nOther comprehensive loss - -
\nTotal comprehensive loss (7,992,160) (3,363,950)
\n(c) Other information
\nThe Company has not entered into any guarantees in relation to its subsidiaries. Refer to Note 22 for details of
\ncontingent assets and liabilities.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfConsolidatedAndSeparateFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag274": {
"value": "\n18. SHARE-BASED PAYMENTS
\n(a) Recognised Share-based Payments
\nFrom time to time, the Group provides Incentive Options and Performance Rights to officers, employees,
\nconsultants and other key advisors as part of remuneration and incentive arrangements. The number of options
\nor rights granted, and the terms of the options or rights granted are determined by the Board. Shareholder
\napproval is sought where required. During the past two years, the following equity-settled share-based payments
\nhave been recognised:
\n2024 2023
\n$ $
\nExpense arising from equity-settled share-based payment transactions (42,341) (24,853)
\nTotal share-based payments recognised during the year (42,341) (24,853)
\n(b) Summary of Incentive Options and Performance Rights Granted as Share-based Payments
\nNil (2023: 150,000) Incentive Options were granted as share-based payments during the current year.
\nThe following table illustrates the number and weighted average exercise prices (\u201cWAEP\u201d) of Incentive Options
\ngranted as share-based payments during the past two years:
\nIncentive Options 2024
\nNumber
\n2024
\nWAEP
\n2023
\nNumber
\n2023
\nWAEP
\nOutstanding at beginning of year 10,900,000 0.50 10,750,000 0.50
\nGranted by the Company during the year - - 150,000 0.55
\nExercised (600,000) 0.45 - -
\nOutstanding at end of year 10,300,000 0.50 10,900,000 0.50
\n
\n\n\n\n\n\nNo Performance Rights were granted as share-based payments during the current year (2023: nil).
\nThe following table illustrates the number and WAEP of Performance Rights granted as share-based payments at
\nduring the past two years:
\nPerformance Rights 2024
\nNumber
\n2024
\nWAEP
\n2023
\nNumber
\n2023
\nWAEP
\nOutstanding at beginning of year 11,000,000 - 11,000,000 -
\nGranted by the Company during the year - - - -
\nConverted/cancelled/lapsed/expired - - - -
\nOutstanding at end of year 11,000,000 - 11,000,000 -
\n(c) Option and Rights Pricing Models
\nThe fair value of the equity-settled share Incentive Options granted is estimated as at the date of grant using the
\nbinomial option pricing valuation model taking into account the terms and conditions upon which the Incentive
\nOptions were granted. The fair value of the equity-settled share Performance Rights granted is estimated as at the
\ndate of grant with reference to the share price on that date.
\nNo (2023: 150,000) Incentive Options were granted as share-based payments in the financial year ended 30 June
\n2024. No Performance Rights (2023: nil) were issued as share-based payments in the financial years ended 30 June
\n2024.
\nThe following table lists the inputs to the valuation models used for Incentive Options granted by the Group during
\nthe last two years (2024: nil):
\nIncentive Options
\n2023 Inputs Series 1
\nExercise price (A$)
\n0.550
\nGrant date share price (A$)
\n0.650
\nDividend yield
\n1
\n
\n-
\nVolatility
\n2
\n
\n95%
\nRisk-free interest rate
\n3.08%
\nGrant date
\n15 Mar 23
\nExpiry date
\n30 Nov 26
\nExpected life of rights
\n3
\n(years)
\n3.42
\nFair value at grant date (A$)
\n0.448
\nNotes:
\n1
\nThe dividend yield reflects the assumption that the current dividend payout will remain unchanged.
\n2
\nThe expected volatility reflects the assumption that the historical volatility is indicative of future trends, which may not necessarily be the actual
\noutcome.
\n3
\nThe expected life of the Incentive Options is based on the exercise date.
\n(d) Weighted Average Remaining Contractual Life
\nAt 30 June 2024, the weighted average remaining contractual life for Incentive Options on issue that had been
\ngranted as share-based payments was 1.96 years (2023: 2.93 years).
\n(e) Range of Exercise Prices
\nAt 30 June 2024 and 2023, the range of exercise prices for Incentive Options on issue that had been granted as
\nshare-based payments was $0.45 and $0.55.
\n(f) Weighted Average Fair Value
\nThere were no Incentive Options granted as share-based payments during the year ended 30 June 2024 (30
\nJune 2023: 150,000). The weighted average fair value of Incentive Options granted as share-based payments
\nduring the year ended 30 June 2024 was nil (2023: $
\n0.12).
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag269": {
"value": "\n19. AUDITORS\u2019 REMUNERATION
\nThe auditor of GreenX Metals Limited is UHY Haines Norton.
\n2024 2023
\n$ $
\nCurrent Auditor \u2013 UHY Haines Norton
\nAmounts received or due and receivable by UHY Haines Norton for:
\n\u2022 UHY Haines Norton \u2013 Australia: an audit or review of the 2024 financial report of the
\nCompany and any other entity in the consolidated group
\n135,905 -
\n\u2022 UHY Haines Norton \u2013 Poland: an audit or review of the 2024 financial report of the
\nCompany and any other entity in the consolidated group for WSE purposes 54,654 -
\n\u2022 UHY Haines Norton \u2013 Australia: an audit or review of the 2023 financial report of the
\nCompany and any other entity in the consolidated group
\n- 160,724
\n\u2022
\nUHY Haines Norton \u2013 Poland: an audit or review of the 2023 financial report of the
\nCompany and any other entity in the consolidated group for WSE purposes
\n- 56,147
\n\u2022 UHY Haines Norton \u2013 Poland: an audit or review of the 2022 financial report of the
\nCompany and any other entity in the consolidated group for WSE purposes
\n- 132,966
\n\u2022 UHY Haines Norton \u2013 Poland: an audit or review of the 2021 financial report of the
\nCompany and any other entity in the consolidated group for WSE purposes
\n- 152,634
\n\u2022
\nOther entities: an audit or review of the financial report of any other entity in the
\nconsolidated group
\n3,731 9,073
\nFormer Auditor \u2013 Ernst & Young
\nAmounts received or due and receivable by Ernst & Young for:
\n\u2022 Ernst and Young \u2013 Australia: an audit or review of the financial report of the
\nCompany and any other entity in the consolidated group
\n- 15,600
\n\u2022 Ernst and Young \u2013 Australia: preparation of income tax return
\n14,500 14,000
\n264,937 541,144
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag284": {
"value": "\n20. SEGMENT INFORMATION
\nThe Consolidated Entity operates in one segment, being mineral exploration. This is the basis on which internal
\nreports are provided to the Directors for assessing performance and determining the allocation of resources within
\nthe Consolidated Entity.
\n2024 2023
\n$ $
\n(a) Reconciliation of Non-Current Assets by Geographical Location
\nGreenland 9,372,906 8,324,108
\nUnited Kingdom 475,993 736,282
\n9,848,899 9,060,390
\n(b) Revenue by Geographical Location
\nPoland 2,838 162,666
\nAustralia 862,024 5,005,046
\n864,862 5,167,712
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag278": {
"value": "\n21. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
\n(a) Overview
\nThe Group's principal financial instruments comprise receivables, payables, cash and short-term deposits. The
\nmain risks arising from the Group's financial instruments are credit risk, liquidity risk, interest rate risk and foreign
\ncurrency risk.
\nThis note presents information about the Group's exposure to each of the above risks, its objectives, policies and
\nprocesses for measuring and managing risk, and the management of capital. Other than as disclosed, there have
\nbeen no significant changes since the previous financial year to the exposure or management of these risks.
\nThe Group manages its exposure to key financial risks in accordance with the Group's financial risk management
\npolicy. Key risks are monitored and reviewed as circumstances change (e.g. acquisition of a new project) and
\npolicies are revised as required. The overall objective of the Group's financial risk management policy is to support
\nthe delivery of the Group's financial targets whilst protecting future financial security.
\n
\n\n\n\n\n\n
\n
\n
\nGiven the nature and size of the business and uncertainty as to the timing and amount of cash inflows and
\noutflows, the Group does not enter into derivative transactions to mitigate the financial risks. In addition, the
\nGroup's policy is that no trading in financial instruments shall be undertaken for the purposes of making
\nspeculative gains. As the Group's operations change, the Directors will review this policy periodically going forward.
\nThe Board of Directors has overall responsibility for the establishment and oversight of the risk management
\nframework. The Board reviews and agrees policies for managing the Group's financial risks as summarised below.
\n\n(b) Credit Risk
\nCredit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to
\nmeet its contractual obligations. This arises principally from cash and cash equivalents and trade and other
\nreceivables. There are no significant concentrations of credit risk within the Group. The carrying amount of the
\nGroup's financial assets represents the maximum credit risk exposure, as represented below:
\n2024 2023
\n$ $
\nCash and cash equivalents
\n7,170,793 8,674,728
\nTrade and other receivables
\n186,563 203,552
\n7,357,356 8,878,280
\nWith respect to credit risk arising from cash and cash equivalents, the Group's exposure to credit risk arises from
\ndefault of the counter party, with a maximum exposure equal to the carrying amount of these instruments. Where
\npossible, the Group invests its cash and cash equivalents with banks that are rated the equivalent of investment
\ngrade and above. The Group\u2019s exposure and the credit ratings of its counterparties are continuously monitored
\nand the aggregate value of transactions concluded is spread amongst approved counterparties.
\nThe Group does not have any significant customers and accordingly does not have significant exposure to bad or
\ndoubtful debts.
\nTrade and other receivables comprise trade and other receivables, interest accrued and GST refunds due.
\nReceivable balances are monitored on an ongoing basis with the result that the Group\u2019s exposure to impairment
\nis not significant. At 30 June 2024, none (2023: none) of the Group\u2019s receivables are impaired.
\n
\n\n\n\n\n\n\n(c) Liquidity Risk
\nLiquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. The Board's
\napproach to managing liquidity is to ensure, as far as possible, that the Group will always have sufficient liquidity
\nto meet its liabilities when due. At 30 June 2024 and 2023, the Group had sufficient liquid assets to meet its financial
\nobligations.
\nThe contractual maturities of financial liabilities, including estimated interest payments, are provided below. There
\nare no netting arrangements in respect of financial liabilities.
\n
\n\u22646 Months
\n$
\n6-12 Months
\n$
\n1-5 Years
\n$
\n\u22655 Years
\n$
\nTotal
\n$
\n2024
\nFinancial Liabilities
\nTrade and other payables 719,393 - - - 719,393
\nOther financial liabilities 150,387 148,998 3,195 - 302,580
\n869,780 148,998 3,195 - 1,021,973
\n2023
\nFinancial Liabilities
\nTrade and other payables 963,974 - - - 963,974
\nArbitration expenses payable 9,590 - - - 9,590
\nOther financial liabilities 138,370 143,073 300,897 - 582,340
\n1,111,934 143,073 300,897 - 1,555,904
\n
\n\n\n\n\n\n\n(d) Interest Rate Risk
\nThe Group's exposure to the risk of changes in market interest rates relates primarily to the cash and short-term
\ndeposits with a variable interest rate.
\nThese financial assets with variable rates expose the Group to cash flow interest rate risk. All other financial assets
\nand liabilities, in the form of receivables and payables are non-interest bearing.
\n
\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
\n21. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (Continued)
\n\n(d) Interest Rate Risk (Continued)
\nAt the reporting date, the Group's exposure to variable interest rates was:
\n2024 2023
\n$ $
\nInterest-bearing financial instruments
\nCash at bank and on hand
\n3,170,793 4,174,728
\nBank short term deposits
\n4,000,000 4,500,000
\n7,170,793 8,674,728
\nThe Group's cash at bank and on hand and short term deposits had a weighted average floating interest rate at
\nyear end of 4.68% (2023: 4.45%).
\nThe Group currently does not engage in any hedging or derivative transactions to manage interest rate risk.
\nInterest rate sensitivity
\nA sensitivity of 3% (300 basis points) has been selected as this is considered reasonable given the current level of
\nboth short term and long term interest rates. A 3% (300 basis points) movement in interest rates at the reporting
\ndate would have increased/(decreased) Profit or Loss and Other Comprehensive Income by the amounts shown
\nbelow. This analysis assumes that all other variables, in particular foreign currency rates, remain constant. The
\nanalysis is performed on a sensitivity of 3% (300 basis points) basis for 2023.
\nProfit or loss Other Comprehensive Income
\n+ 300 basis
\npoints
\n$
\n- 300 basis
\npoints
\n$
\n+ 300 basis
\npoints
\n$
\n- 300 basis
\npoints
\n$
\n2024
\nGroup
\nCash and cash equivalents 215,124 (215,124) - -
\n2023
\nGroup
\nCash and cash equivalents 260,242 (260,242) - -
\n(e) Commodity Price Risk
\nThe Group has no exposure to commodity price risk on its financial instruments at 30 June 2024. No hedging or
\nderivative transactions have been used to manage commodity price risk.
\n
\n\n\n\n\n\n\n(f) Capital Management
\nThe Group defines its Capital as total equity of the Group, being $15,149,710 as at 30 June 2024 (2023: $15,721,510).
\nThe Group manages its capital to ensure that entities in the Group will be able to continue as a going concern
\nwhile financing the development of its projects through primarily equity based financing. The Board's policy is to
\nmaintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain future
\ndevelopment of the business. Given the stage of development of the Group, the Board's objective is to minimise
\ndebt and to raise funds as required through the issue of new shares.
\nThe Group is not subject to externally imposed capital requirements.
\nThere were no changes in the Group's approach to capital management during the year. During the next 12
\nmonths, the Group will continue to explore project financing opportunities, primarily consisting of additional issues
\nof equity.
\n
\n\n\n\n\n\n\n(g) Fair Value
\nThe Group uses various methods in estimating the fair value of a financial instrument. The methods comprise:
\n\u2022 Level 1 \u2013 the fair value is calculated using quoted prices in active markets.
\n\u2022 Level 2 \u2013 the fair value is estimated using inputs other than quoted prices included in Level 1 that are
\nobservable for the asset or liability, either directly (as prices) or indirectly (derived from prices).
\n\u2022 Level 3 \u2013 the fair value is estimated using inputs for the asset or liability that are not based on observable
\nmarket data.
\n
\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n\nAt 30 June 2024 and 30 June 2023, the carrying value of the Group\u2019s financial assets and liabilities approximate
\ntheir fair value.
\n
\n\n\n\n\n\n\n
\n(h) Foreign Currency Risk
\nThe Group has transactional currency exposures. Such exposure arises from transactions denominated in
\ncurrencies other than the functional currency of the entity.
\nThe Group\u2019s exposure to foreign currency risk throughout the current and prior year primarily arose from
\ncontrolled entities of the Company whose functional currency is the Polish Zloty (\u201cPLN\u201d) and contractual
\nobligations in Great British Pound (\u201cGBP\u201d).
\nIt is the Group\u2019s policy not to enter into any hedging or derivative transactions to manage foreign currency risk.
\nHowever, the Group does hold some PLN cash and cash equivalents to fund its planned Polish operations over the
\nnext 12 months, given the majority of the Group\u2019s expenditure over this period is expected to be in PLN.
\nAt the reporting date, the Group\u2019s exposure to financial instruments denominated in foreign currencies was:
\n2024 PLN GBP AUD
\nTotal Equivalent
\nAUD
\nFinancial assets
\nCash and cash equivalents
\n201,349 - 7,095,674 7,170,793
\nTrade and other receivables
\n98,554 - 149,794 186,563
\nOther
\n- 102,031 - 193,533
\n299,905
\n102,031 7,245,468
\n
\n7,550,889
\nFinancial liabilities
\nTrade and other payables (248,471) - (626,694) (719,393)
\nOther financial liabilities - (157,836) (3,196)
\n
\n(302,581)
\n(248,471) (157,836) (629,890)
\n
\n(1,021,974)
\nNet exposure 51,433
\n(55,805) 6,615,578
\n
\n6,335,382
\n\nForeign exchange rate sensitivity
\nAt the reporting date, had the Australian Dollar appreciated or depreciated against the PLN and GBP, as illustrated
\nin the table below, Profit or Loss and other Comprehensive Income would have been affected by the amounts
\nshown below. This analysis assumes that all other variables remain constant.
\n
\nProfit or loss Other Comprehensive Income
\n10% Increase 10% Decrease 10% Increase 10% Decrease
\n2024
\nGroup
\nAUD to PLN 1,919 (1,919) - -
\nAUD to GBP (10,585) 10,585 - -
\n
\n\n\n\n\n\n
\n\n\n\n\n\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag260": {
"value": "\n(b) Credit Risk
\nCredit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to
\nmeet its contractual obligations. This arises principally from cash and cash equivalents and trade and other
\nreceivables. There are no significant concentrations of credit risk within the Group. The carrying amount of the
\nGroup's financial assets represents the maximum credit risk exposure, as represented below:
\n2024 2023
\n$ $
\nCash and cash equivalents
\n7,170,793 8,674,728
\nTrade and other receivables
\n186,563 203,552
\n7,357,356 8,878,280
\nWith respect to credit risk arising from cash and cash equivalents, the Group's exposure to credit risk arises from
\ndefault of the counter party, with a maximum exposure equal to the carrying amount of these instruments. Where
\npossible, the Group invests its cash and cash equivalents with banks that are rated the equivalent of investment
\ngrade and above. The Group\u2019s exposure and the credit ratings of its counterparties are continuously monitored
\nand the aggregate value of transactions concluded is spread amongst approved counterparties.
\nThe Group does not have any significant customers and accordingly does not have significant exposure to bad or
\ndoubtful debts.
\nTrade and other receivables comprise trade and other receivables, interest accrued and GST refunds due.
\nReceivable balances are monitored on an ongoing basis with the result that the Group\u2019s exposure to impairment
\nis not significant. At 30 June 2024, none (2023: none) of the Group\u2019s receivables are impaired.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag267": {
"value": "\n(c) Liquidity Risk
\nLiquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. The Board's
\napproach to managing liquidity is to ensure, as far as possible, that the Group will always have sufficient liquidity
\nto meet its liabilities when due. At 30 June 2024 and 2023, the Group had sufficient liquid assets to meet its financial
\nobligations.
\nThe contractual maturities of financial liabilities, including estimated interest payments, are provided below. There
\nare no netting arrangements in respect of financial liabilities.
\n
\n\u22646 Months
\n$
\n6-12 Months
\n$
\n1-5 Years
\n$
\n\u22655 Years
\n$
\nTotal
\n$
\n2024
\nFinancial Liabilities
\nTrade and other payables 719,393 - - - 719,393
\nOther financial liabilities 150,387 148,998 3,195 - 302,580
\n869,780 148,998 3,195 - 1,021,973
\n2023
\nFinancial Liabilities
\nTrade and other payables 963,974 - - - 963,974
\nArbitration expenses payable 9,590 - - - 9,590
\nOther financial liabilities 138,370 143,073 300,897 - 582,340
\n1,111,934 143,073 300,897 - 1,555,904
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag285": {
"value": "\n(d) Interest Rate Risk
\nThe Group's exposure to the risk of changes in market interest rates relates primarily to the cash and short-term
\ndeposits with a variable interest rate.
\nThese financial assets with variable rates expose the Group to cash flow interest rate risk. All other financial assets
\nand liabilities, in the form of receivables and payables are non-interest bearing.
\n
\n\n\n\n\n\n(d) Interest Rate Risk (Continued)
\nAt the reporting date, the Group's exposure to variable interest rates was:
\n2024 2023
\n$ $
\nInterest-bearing financial instruments
\nCash at bank and on hand
\n3,170,793 4,174,728
\nBank short term deposits
\n4,000,000 4,500,000
\n7,170,793 8,674,728
\nThe Group's cash at bank and on hand and short term deposits had a weighted average floating interest rate at
\nyear end of 4.68% (2023: 4.45%).
\nThe Group currently does not engage in any hedging or derivative transactions to manage interest rate risk.
\nInterest rate sensitivity
\nA sensitivity of 3% (300 basis points) has been selected as this is considered reasonable given the current level of
\nboth short term and long term interest rates. A 3% (300 basis points) movement in interest rates at the reporting
\ndate would have increased/(decreased) Profit or Loss and Other Comprehensive Income by the amounts shown
\nbelow. This analysis assumes that all other variables, in particular foreign currency rates, remain constant. The
\nanalysis is performed on a sensitivity of 3% (300 basis points) basis for 2023.
\nProfit or loss Other Comprehensive Income
\n+ 300 basis
\npoints
\n$
\n- 300 basis
\npoints
\n$
\n+ 300 basis
\npoints
\n$
\n- 300 basis
\npoints
\n$
\n2024
\nGroup
\nCash and cash equivalents 215,124 (215,124) - -
\n2023
\nGroup
\nCash and cash equivalents 260,242 (260,242) - -
\n(e) Commodity Price Risk
\nThe Group has no exposure to commodity price risk on its financial instruments at 30 June 2024. No hedging or
\nderivative transactions have been used to manage commodity price risk.
\n
\n\n\n\n\n\n
\n(h) Foreign Currency Risk
\nThe Group has transactional currency exposures. Such exposure arises from transactions denominated in
\ncurrencies other than the functional currency of the entity.
\nThe Group\u2019s exposure to foreign currency risk throughout the current and prior year primarily arose from
\ncontrolled entities of the Company whose functional currency is the Polish Zloty (\u201cPLN\u201d) and contractual
\nobligations in Great British Pound (\u201cGBP\u201d).
\nIt is the Group\u2019s policy not to enter into any hedging or derivative transactions to manage foreign currency risk.
\nHowever, the Group does hold some PLN cash and cash equivalents to fund its planned Polish operations over the
\nnext 12 months, given the majority of the Group\u2019s expenditure over this period is expected to be in PLN.
\nAt the reporting date, the Group\u2019s exposure to financial instruments denominated in foreign currencies was:
\n2024 PLN GBP AUD
\nTotal Equivalent
\nAUD
\nFinancial assets
\nCash and cash equivalents
\n201,349 - 7,095,674 7,170,793
\nTrade and other receivables
\n98,554 - 149,794 186,563
\nOther
\n- 102,031 - 193,533
\n299,905
\n102,031 7,245,468
\n
\n7,550,889
\nFinancial liabilities
\nTrade and other payables (248,471) - (626,694) (719,393)
\nOther financial liabilities - (157,836) (3,196)
\n
\n(302,581)
\n(248,471) (157,836) (629,890)
\n
\n(1,021,974)
\nNet exposure 51,433
\n(55,805) 6,615,578
\n
\n6,335,382
\n\nForeign exchange rate sensitivity
\nAt the reporting date, had the Australian Dollar appreciated or depreciated against the PLN and GBP, as illustrated
\nin the table below, Profit or Loss and other Comprehensive Income would have been affected by the amounts
\nshown below. This analysis assumes that all other variables remain constant.
\n
\nProfit or loss Other Comprehensive Income
\n10% Increase 10% Decrease 10% Increase 10% Decrease
\n2024
\nGroup
\nAUD to PLN 1,919 (1,919) - -
\nAUD to GBP (10,585) 10,585 - -
\n
\n\n\n\n\n\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag263": {
"value": "\n(f) Capital Management
\nThe Group defines its Capital as total equity of the Group, being $15,149,710 as at 30 June 2024 (2023: $15,721,510).
\nThe Group manages its capital to ensure that entities in the Group will be able to continue as a going concern
\nwhile financing the development of its projects through primarily equity based financing. The Board's policy is to
\nmaintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain future
\ndevelopment of the business. Given the stage of development of the Group, the Board's objective is to minimise
\ndebt and to raise funds as required through the issue of new shares.
\nThe Group is not subject to externally imposed capital requirements.
\nThere were no changes in the Group's approach to capital management during the year. During the next 12
\nmonths, the Group will continue to explore project financing opportunities, primarily consisting of additional issues
\nof equity.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag280": {
"value": "\n(g) Fair Value
\nThe Group uses various methods in estimating the fair value of a financial instrument. The methods comprise:
\n\u2022 Level 1 \u2013 the fair value is calculated using quoted prices in active markets.
\n\u2022 Level 2 \u2013 the fair value is estimated using inputs other than quoted prices included in Level 1 that are
\nobservable for the asset or liability, either directly (as prices) or indirectly (derived from prices).
\n\u2022 Level 3 \u2013 the fair value is estimated using inputs for the asset or liability that are not based on observable
\nmarket data.
\n
\n\n\n\n\n\nAt 30 June 2024 and 30 June 2023, the carrying value of the Group\u2019s financial assets and liabilities approximate
\ntheir fair value.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag265": {
"value": "\nForeign exchange rate sensitivity
\nAt the reporting date, had the Australian Dollar appreciated or depreciated against the PLN and GBP, as illustrated
\nin the table below, Profit or Loss and other Comprehensive Income would have been affected by the amounts
\nshown below. This analysis assumes that all other variables remain constant.
\n
\nProfit or loss Other Comprehensive Income
\n10% Increase 10% Decrease 10% Increase 10% Decrease
\n2024
\nGroup
\nAUD to PLN 1,919 (1,919) - -
\nAUD to GBP (10,585) 10,585 - -
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag271": {
"value": "\n
\n\n22. CONTINGENT ASSETS AND LIABILITIES
\nDuring the prior financial year, the Company\u2019s hearing for the international arbitration Claim against the Republic
\nof Poland under both the ECT and the BIT was concluded. A combined arbitration hearing took place in front of
\nthe Arbitral Tribunal in London under the UNCITRAL Arbitration Rules with damages of up to \u00a3737 million (A$1.4
\nbillion / PLN4.0 billion) being claimed by the Company including the assessed value of GreenX\u2019s lost profits and
\ndamages related to both the Jan Karski and Debiensko projects in Poland, and accrued interest related to any
\ndamage. The Company has funded the Claim proceedings under its US$12.3 million (US$10.7 million drawn down
\non) LFA with LCM. The LFA is a limited recourse loan with LCM that is on a \u201cno win \u2013 no fee\u201d basis. Following the
\ncompletion of the hearing, the Tribunal will render an Award (i.e., the legal term used for a \u2018decision\u2019 by the
\nTribunal) in due course with no specified date given for the Tribunal to issue a decision. If there is no settlement or
\naward for the Claim, then LCM is not entitled to any repayment of the LFA. If there is a settlement and award in
\nexcess of the LFA amount drawn down on, LCM shall be entitled to receive repayment of any funds drawn plus an
\namount equal to five times the total of any funds drawn from the LFA during the first five years (from 1 July 2020),
\ndepending on the time frame over which funds have remained drawn, and then a 30% interest rate after the fifth
\nyear until receipt of damages payments.
\n
\n\n\n\n\n\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag264": {
"value": "\n22. CONTINGENT ASSETS AND LIABILITIES
\nDuring the prior financial year, the Company\u2019s hearing for the international arbitration Claim against the Republic
\nof Poland under both the ECT and the BIT was concluded. A combined arbitration hearing took place in front of
\nthe Arbitral Tribunal in London under the UNCITRAL Arbitration Rules with damages of up to \u00a3737 million (A$1.4
\nbillion / PLN4.0 billion) being claimed by the Company including the assessed value of GreenX\u2019s lost profits and
\ndamages related to both the Jan Karski and Debiensko projects in Poland, and accrued interest related to any
\ndamage. The Company has funded the Claim proceedings under its US$12.3 million (US$10.7 million drawn down
\non) LFA with LCM. The LFA is a limited recourse loan with LCM that is on a \u201cno win \u2013 no fee\u201d basis. Following the
\ncompletion of the hearing, the Tribunal will render an Award (i.e., the legal term used for a \u2018decision\u2019 by the
\nTribunal) in due course with no specified date given for the Tribunal to issue a decision. If there is no settlement or
\naward for the Claim, then LCM is not entitled to any repayment of the LFA. If there is a settlement and award in
\nexcess of the LFA amount drawn down on, LCM shall be entitled to receive repayment of any funds drawn plus an
\namount equal to five times the total of any funds drawn from the LFA during the first five years (from 1 July 2020),
\ndepending on the time frame over which funds have remained drawn, and then a 30% interest rate after the fifth
\nyear until receipt of damages payments.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
},
"Tag286": {
"value": "\n23. EVENTS SUBSEQUENT TO BALANCE DATE
\n(i) On 15 July 2024, the Company announced it had entered into a revised Option Agreement with Greenfields
\nto acquire up to 100% of the ELN gold project in eastern Greenland.; and
\n(ii) On 2 August 2024, the Company announced it had entered into a Earn-In Agreement to acquire up to 90%
\nin the Tannenberg copper project in Germany.
\nOther than as outlined above, at the date of this report, there are no matters or circumstances, which have arisen
\nsince 30 June 2024 that have significantly affected or may significantly affect:
\n\u2022 the operations, in financial years subsequent to 30 June 2024 of the Consolidated Entity;
\n\u2022 the results of those operations, in financial years subsequent to 30 June 2024, of the Consolidated Entity; or
\n\u2022 the state of affairs, in financial years subsequent to 30 June 2024, of the Consolidated Entity.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:213800EHCGNYSCN9T108",
"period": "2023-07-01T00:00:00/2024-07-01T00:00:00"
}
}
}
}