Aruma Resources Limited (AAJ) 2024年年度報告「ASX」.pdf

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1、 ARUMA RESOURCES LIMITED(ABN 77 141 335 364)Annual Report 30 June 2024 Aruma Resources Limited Annual Report 2024 2 Contents 3 Corporate information 4 Chairmans letter to shareholders 5 Review of operations 26 Directors report 35 Auditors independence declaration 36 Consolidated statement of compreh

2、ensive income 37 Consolidated statement of financial position 38 Consolidated statement of cash flows 39 Consolidated statement of changes in equity 40 Notes to the consolidated financial statements 73 Consolidated entity disclosure statement 74 Directors declaration 75 Independent auditors report 7

3、8 Shareholder information Aruma Resources Limited Annual Report 2024 3 Corporate information Directors James Moses(Chairman)Glenn Grayson(Managing director)Brett Smith Company secretary Phillip MacLeod Registered office Units 8-9,88 Forrest Street Cottesloe,Western Australia,6011 Principal place of

4、business Level 1,2 Richardson Street West Perth,Western Australia,6005 T:+61 8 9321 0177 F:+61 8 9226 3764 Postal address PO Box 152,West Perth,Western Australia 6872 Share registry Automic Group Level 5,126 Phillips Street Sydney NSW 2000 T:1300 288 664 Auditors Elderton Audit Pty Ltd Level 32,152

5、St Georges Terrace Perth,Western Australia,6000 Securities exchange listing ASX Limited ASX Code:AAJ Aruma Resources Limited Annual Report 2024 4 Letter from the Board to Shareholders Dear Shareholders,I am pleased to present Aruma Resources Limiteds Annual Report for the year ending 30 June 2024 Th

6、e highlight of which was the Companys acquisition of a portfolio of copper and uranium exploration assets in world-class mineral belts in South Australia and Queensland,while we also continued the systematic exploration of our existing projects.The Company sees the acquisition of this new asset port

7、folio in high-demand commodities,located in active tier-1 mineral belts in progressive mining jurisdictions as an exciting opportunity for Aruma and our shareholders.The new project portfolio consists of the Wilan IOCG-Uranium Project in the Olympic Dam precinct in South Australia,the Fiery Creek Co

8、pper Project and the Bortala Copper Project,both in the Mt Isa region of Queensland.All three projects are assessed as having copper-gold(stratiform and IOCG)discovery potential,and the Wilan Project also hosts a priority uranium target.High-grade copper assays up to 36%Cu have been reported from hi

9、storical exploration at the Fiery Creek Project,and a review of historical exploration results from the Bortala Project has identified initial exploration targets for Aruma.The Company plans to implement targeted field work programs across the new asset portfolio in the year ahead,with a view to def

10、ining priority targets and systematically drilling these projects to unlock and maximise their potential.At our existing Western Australian projects,exploration during the year focused on the Salmon Gums Project in the Goldfields region and the Saltwater Project in Pilbara region.Further drilling wa

11、s undertaken at Salmon Gums which confirmed the presence of a high-grade gold-bearing structure typical of Norseman-style gold mineralisation.Aruma also investigated the rare earth elements(REE)potential at Salmon Gums with a first-pass REE-focused drilling program.This returned multiple intersectio

12、ns of high-grade clay REEs of significant thickness.Unlocking the REE potential of the Project will be a focus in the year ahead.Aruma continued its systematic soil sampling at the Saltwater Project,as a first-step towards unlocking the Projects value.Multiple results were reported during the year,w

13、hich provided confirmation of the Projects multi-commodity potential.This work remains ongoing.The year ahead represents an exciting time for Aruma and our shareholders.Having acquired a new asset portfolio and appraised opportunities to deliver shareholder value from our existing projects,the Compa

14、ny is committed to the systematic,targeted exploration of these assets with the aim of maximising the value of the projects and delivering value for shareholders.On behalf of the Board,I would like to thank shareholders for their continued support,and acknowledge all staff,contractors and consultant

15、s for their contribution during the year.We look forward to 2025 with a strong sense of purpose and excitement.James Moses Chairman Aruma Resources Limited Annual Report 2024 5 Review of operations Exploration Highlights Acquisition of copper and uranium exploration project portfolio in tier-1 miner

16、al belts;o The Wilan IOCG-Uranium Project in the Olympic Dam precinct in South Australia;and o The Fiery Creek Copper and Bortala Copper Projects in the Mt Isa region,Queensland;High-grade copper assays up to 36%Cu reported from historical exploration at Fiery Creek Project(reported subsequent to ye

17、ar-end)Priority targets identified at Bortala Project from review of historical exploration(reported subsequent to year-end)o All three projects have copper-gold(stratiform and IOCG)discovery potential with additional playa lake and paleochannel uranium targets at the Wilan Project o Acquisition com

18、pleted with Aruma shareholder approval at an EGM on 1 August 2024 projects are the Companys core focus moving forward Salmon Gums Gold Project,Goldfields region of Western Australia o 7-hole diamond drilling program completed-confirmed presence of a high-grade gold-bearing structure.Highlight result

19、s included;5.90m 10.5g/t Au from 38.4m in SG23DD007,including 2.60m 9.85g/t Au from 38.4m and 0.85m 40.9g/t Au from 43.4m o Maiden REE-focused drilling program also completed with multiple high-grade clay REEs of significant thickness reported o REE drilling confirmed a northern extension of REE dis

20、coveries by Meeka Metals and OD6 Metals in the region o Surface sampling of exposed clays returned very high REE result;8,700ppm TREO with high-value Nd+Pr oxides representing 22.5%of TREO grade Saltwater Project,Pilbara region of Western Australia o Systematic surface sampling program continued and

21、 remains ongoing provided confirmation of Projects multi-commodity potential including REE.Results included;1777.5ppm TREO(including 752.2ppm NdPr)and 1025.7ppm TREO in surface rock sample;and 1092.5ppm TREO(including 242.2ppm NdPr)and 572.0ppm TREO(in two areas)in soil sample Carter Well Gold Proje

22、ct,Mid-West region of Western Australia o First-pass auger drilling completed testing greenfields gold potential Corporate o R&D Tax Refund of$1,147,598.02 received Aruma Resources Limited Annual Report 2024 6 Review of operations Aruma Resources Limited(ASX:AAJ)(Aruma or the Company)is pleased to p

23、rovide the following report on its activities for the year ending 30 June 2024.Aruma has a portfolio of strategically located exploration projects in high-demand commodities,in world-class mineral belts in Australia.The year was highlighted by the acquisition of a portfolio of copper and uranium ass

24、ets in South Australia and Queensland.The Companys asset portfolio also includes gold,lithium and REE prospective projects in Western Australia,and during the year it continued to progress appraisal and exploration of these projects.This included multiple drilling programs at the Salmon Gums Project

25、 in the Eastern Goldfields,a maiden drilling program at the Carter Well Gold Project in the Mid-West region and systematic soil sampling programs at the multi-commodity Saltwater Project in the Pilbara region.Projects Overview See Figure 1 for Arumas project location map and Table 1 for details of t

26、he Companys Licence holdings.Figure 1:Aruma projects location map Aruma Resources Limited Annual Report 2024 7 Review of operations Tenements Location Interest Wilan(IOCG-Uranium)EL6819 EL6870 Gawler Craton,South Australia 100%Fiery Creek(Copper)EPM27879 Mt Isa Copper Belt,Queensland 100%Bortala(Cop

27、per)EPM28271 Mt Isa Copper Belt,Queensland 100%Salmon Gums(Gold and Rare Earth Elements)EL63/2037 Norseman Belt,Goldfields,Western Australia 100%EL63/2122 EL63/2354 Saltwater(Gold)EL52/3818 Pilbara Region Western Australia 100%EL52/3846 EL52/3857 EL52/3966 Melrose(Gold)EL08/3183 Pilbara Region Weste

28、rn Australia 100%EL08/3184 EL08/3188 EL08/3210 EL08/3219 EL08/3244 EL47/4362 EL47/4414 EL47/4529 EL08/3280 EL08/3351 ELA08/3499 PL47/1985 Mt Deans(Lithium)P63/2063 Lithium corridor,Goldfields,Western Australia 100%Table 1:Arumas licence details.Copper and Uranium Exploration Projects Acquisition Aru

29、ma announced the acquisition of a portfolio of copper and uranium exploration assets in tier-1 mineral precincts in South Australia and Queensland during the year(ASX announcement 27 May 2024).The Company executed a share acquisition agreement to acquire the Wilan IOCG-Uranium Project in the Olympic

30、 Dam precinct in South Australia,and the Fiery Creek Copper Project and the Bortala Copper Project in the Mt Isa region of Queensland from NHM Holdings(Australia)Pty Ltd(NMHA).The acquisition was completed after Aruma shareholder approval for the acquisition was granted at a shareholder meeting on 1

31、 August 2024.Aruma Resources Limited Annual Report 2024 8 Review of operations The Company plans to commence targeted,systematic field work programs across the new projects to define priority drill targets,with the aim of progressively drill testing priority targets to unlock each projects full valu

32、e proposition.Acquisition Consideration As consideration for the Acquisition,Aruma is to issue the following to NHMHA shareholders:26.5 million fully paid Aruma ordinary shares(Shares),which will be subject to a voluntary escrow period of 6 months from the date of issue.These shares have been issued

33、 to NHMHA shareholders;24.5 million options each non-transferable and exercisable into one Share for a nil exercise price upon Aruma securing environment protection and rehabilitation(PEPR)approval for drilling at the Wilan Project in South Australia,and obtaining any other necessary approvals to co

34、nduct drilling at the Wilan Project;and 28 million options each non-transferable and exercisable into one Share for a nil exercise price upon AAJ reporting an aggregate drilling intercept(in one drill-hole)of 3m at 600ppm U308,or at least 20m at 0.8%Cu or metals equivalent at one of the new projects

35、.Aruma will also pay a 2%net smelter royalty to NHMHA shareholders over any minerals extracted and sold from the tenements.New Projects Portfolio Commentary Wilan IOCG-Uranium Project The Wilan Project(EL6819,EL6870)is located on the eastern side of the Gawler Craton in South Australia,and covers a

36、total are of 1,993km2(Figure 2).The Gawler Craton is a prolific minerals belt,which hosts multiple world-class mining and exploration operations.These include BHPs Olympic Dam Deposit,the worlds largest single source of copper-gold-REE and uranium located just 140 km south-west of Wilan,and its Prom

37、inent Hill Copper Project.The Wilan Project hosts a priority IOCG target and separate Playa Lake Uranium target.These will both be key initial exploration targets for Aruma.In the Gawler Craton,IOCG deposits have been identified with magnetic anomalies coincident gravity anomalies.The IOCG target at

38、 Wilan is interpreted as having this signature.It is located in the south-east of the Project and has never been drill tested.Aruma plans to explore for IOCG mineralisation in the Paleoproterozoic basement rocks at this target as well as potential sedimentary-hosted copper mineralisation in the basi

39、n rocks above the basement.The Playa Lake Uranium target is located in the west of the Project area.Playa-type uranium deposits are acknowledged as typically being relatively easy to explore and exploit,as they tend to be shallow and laterally continuous.The uranium target has been identified throug

40、h a radiometric anomaly with a co-incident helium hyperspectral response.The radiometric and helium anomalies cover an area of approximately 4km x 1.5km.Aruma plans to drill test these areas for uranium anomalism.There are also other elevated areas,which the Company plans to further evaluate for the

41、ir exploration potential.Aruma Resources Limited Annual Report 2024 9 Review of operations Figure 2:Geology of the Wilan Project area.The Fiery Creek Copper Project The Fiery Creek and Bortala Projects are located in the northern area of the world-class Mt Isa copper-belt.Both projects are located i

42、n an under-explored region,which hosts multiple significant copper mines.In addition,global tier-1 mining houses such as Rio Tinto,Anglo American and Teck have substantial landholdings in the region.Aruma Resources Limited Annual Report 2024 10 Review of operations Anglo American own the majority of

43、 the tenure neighbouring Fiery Creek and the ground has been previously held by MIM Holdings(now Glencore),BHP,RIO Tinto and Sumitomo.Minimal work has been done at the Project area to date,including limited drilling by Sumitomo1 and MIM Holdings2.The geology of the Fiery Creek Project(EPM27879)(Figu

44、re 3)is interpreted as analogous to the units that host copper deposits within the western fold belt of the Mount Isa Inlier.Aruma plans to explore for a stratiform copper deposit within the Project area,and will also assess its IOCG potential.Figure 3:Geology of the Fiery Creek Project Aruma Resour

45、ces Limited Annual Report 2024 11 Review of operations The Bortala Copper Project The Bortala Project(EPM28271)(Figure 4)is located in the northern area of the Mt Isa region,immediately south of 29Metals(ASX:29M)Capricorn Copper Project.The Bortala Project is interpreted as being prospective for Mou

46、nt Isa/Mammoth-style breccia copper deposits and epigenetic uranium mineralisation within the reactive sediments of the western Mt Isa succession.Figure 4:Geology of the Bortala Project area An east-north-east trending linear fault in the south of the Project area has copper-gold mineral occurrences

47、 and historic workings identified by Ashton Mining in 1989.The Bortala Project also hosts members of the Mount Isa Group,which exhibit widespread lead-zinc anomalism,and strong copper potential along bounding faults.Aruma Resources Limited Annual Report 2024 12 Review of operations Several magnetic

48、lineations and magnetic high zones have been identified within the Project area by previous explorers,which may indicate the presence of enhanced iron oxide occurrences.The geophysical features on the Project offer key exploration target areas and are proximal and adjacent to these magnetic high zon

49、es,particularly in the eastern area of the Project.Aruma plans to explore the Bortala Project for an IOCG system,similar to those in the Cloncurry district in Queensland and the Gawler Craton in South Australia.Salmon Gums Gold Project The Salmon Gums Project(EL63/2037,EL63/2122,ELA63/2303)covers a

50、total area of 360km2.The Project is a high-grade gold exploration asset located 300km south of Kalgoorlie,and 80km south of the mining town of Norseman.It is situated 30km south and directly along strike,in the same stratigraphy,as Pantoro Limiteds(ASX:PNR)high grade Scotia Gold Project(Figure 5).Fi

51、gure 5:Salmon Gums Gold Project location map.Aruma Resources Limited Annual Report 2024 13 Review of operations During the year,Aruma undertook its latest phase of drilling at the Salmon Gums Project(ASX announcement 11 September 2023).Drilling was designed to follow up and extend bonanza-grade gold

52、 intersected at the priority Thistle prospect in the Companys 2022 drilling campaign,which included an intersection of;5m at 50.2g/t Au in drill hole SCRC039.Arumas drilling at Salmon Gums in the 2024 year comprised a targeted seven-hole diamond core program.The program was successful in intersectin

53、g and extending the targeted very high-grade structure and also delivered a more complete understanding of the controlling geology and structures.Gold mineralisation was intersected in six of the seven completed holes,and highlight results included;5.90m 10.5g/t Au from 38.4m in SG23DD007 o includin

54、g 2.60m 9.85g/t Au from 38.4m o and 0.85m 40.9g/t Au from 43.4m 3.65m 1.25g/t Au from 42m in SG23DD003 o including 0.95m 3.66g/t Au from 42.7m See Figure 6 and Table 2 for significant gold intersections from this drilling.Figure 6:Cross section 6361620mN showing recently completed diamond drilling(S

55、G23DD003-009 inclusive)expanding previous high-grade gold intersection with 5.9m 10.5g/t Au in SG23DD007.Aruma Resources Limited Annual Report 2024 14 Review of operations Results Commentary Assay results from the 2024 drilling further indicated the presence of a significant pyrrhotite-pyrite arseno

56、pyrite bearing quartz vein,which aligns closely with the characteristics of typical Norseman-style gold mineralisation.These veins are hosted within the rheological contrasting sequence of mafic to shale geology,demonstrating the prominent structural controls typically associated with such deposits.

57、The presence of pyrrhotite,pyrite and arsenopyrite sulphides,both within and proximal to the primary quartz vein was seen as further indication of the potential for the Thistle prospect to host a significant gold-bearing structure.The intersection of 5.9m 10.5g/t Au in hole SG23DD007(Figure 6),in pa

58、rticular,shows evidence of Norseman-style quartz lode mineralisation.See Figures 7 and 8 for images of core from the 2024 drilling at Salmon Gums.Further details on this phase of drilling are provided in ASX announcements of 11 September,4 October and 21 November 2023.Prospect Hole ID From (m)To (m)

59、Width Grade (g/t Au)Thistle SG23DD003 42.70 46.35 3.65 1.25 incl 42.70 43.65 0.95 3.66 SG23DD004 66.00 67.00 1.00 1.00 SG23DD007 38.40 44.30 5.90 10.5 incl 38.40 41.00 2.60 9.85 also incl.43.45 44.30 0.85 40.9 SG23DD008 44.00 46.00 2.00 0.48 48.80 49.00 0.20 0.60 SG23DD009 48.20 52.20 4.00 0.78 incl

60、 48.20 49.00 0.80 1.97 also incl.51.20 52.20 1.00 1.14 Note:all intervals that returned greater than 0.4g/t Au.Table 2:Significant Intercepts from diamond core drilling program.Aruma Resources Limited Annual Report 2024 15 Review of operations Figure 7:Drill core from SG23DD007 from 36.25m to 43.45m

61、 showing Norseman-style quartz lode mineralisation with disseminated sulphide between 38.4m to 41m 9.85g/t Au.Figure 8:Drill core from SG23DD007 from 43.45m to 46.9 showing Norseman-style quartz lode mineralisation with disseminated sulphide between 43.45m to 44.3m 40.9g/t Au.REE drilling at Salmon

62、Gums Arumas assessment of the Salmon Gums Project also highlighted potential REE prospectivity in the southern extent of the Project area,at the Circle Valley North prospect(Figure 5).An extensive first-pass,drilling program was completed during the year(ASX announcement 7 February 2024).Aruma Resou

63、rces Limited Annual Report 2024 16 Review of operations Drilling consisted of a 39-hole air-core drilling program,which successfully tested for REE-enriched clays,as extensions to Meeka Metals(ASX:MEK)nearby Circle Valley REE Resource of 98Mt 890ppm TREO(MEK:ASX announcement 14 June 2023),and OD6 Me

64、tals(ASX:OD6)REE discovery in the same area(OD6:ASX announcement 24 March 2023)(Figure 9).Figure 9:Plan showing Arumas REE-focused drilling at the Salmon Gums Project(black dots);yellow dots show MEK drilling and green dots show OD6 drilling.Recent results highlighted in pink and yellow as the legen

65、d shows in the top right.Pink is the high grade TREO results above 1500ppm TREO.Commentary on REE Drilling Results Arumas maiden REE-focused drilling program at the Salmon Gums Project returned three zones of high-grade clay REEs,and also delivered the highest grade clay REEs recorded in the region

66、to date,in surface sample(AR33002).Initial surface sampling revealed an impressive 8,700ppm TREO,with neodymium(Nd)and praseodymium(Pr)oxides constituting 22.5%of this total,providing a further indicator of the quality of these results(Figure 10).The drilling program delivered multiple clay-hosted R

67、EE zones,of various depths and thicknesses.Highlight results included;11 metres at 904ppm TREO and 18 metres at 638ppm TREO,among others.See Table 3 for TREO results above 600ppm,and Figure 3 for drill hole locations and results.Aruma Resources Limited Annual Report 2024 17 Review of operations Site

68、 ID Easting Northing From To TREO(ppm)AR33002 382764 6356432 Surface Surface 8702 SG24AC024 374057 6351806 18 29 904 SG24AC053 382909 6356810 21 24 933 SG24AC030 375860 6353410 24 30 770 SG24AC048 382538 6356660 15 21 727 SG24AC031 376139 6353663 12 30 638 Table 3:Total Rare Earth Oxides Significant

69、 Intercepts 600ppm The results extend the northern reach of the recent REE discoveries by OD6 and MEK,further enhancing the clay-hosted REE prospectivity of the greater Esperance-Salmon Gums region,and also underscoring the Salmon Gums Projects potential to host a significant ionic clay deposit.Base

70、d on the positive results from the first pass REE-focused air core drilling program,Aruma plans to undertake a targeted second phase of REE-focused air core drilling at Salmon Gums to better define the anomalism and assess the Projects REE resource potential.Figure 10:Outcropping high grade REE Clay

71、 from Circle Valley,AR33002 Gold Results This phase of drilling also targeted gold pathfinder mineralisation at the Thistle prospect with the aim of extending the gold mineralised footprint at the Salmon Gums Project.Drilling at the Thistle prospect intersected 3 metres of anomalous gold mineralisat

72、ion from surface in hole SG24AC001.This result continued to highlight the gold prospectivity of structural controls on points of rheological contrast and their capacity for gold saturation.Saltwater Project The Saltwater Project consists of four Exploration Licences(EL52/3818,EL52/3846,and EL52/3857

73、)over a total area of 450km2.It is situated approximately 120 kilometres south-west of the regional mining centre of Newman,in the Pilbara region of WA.Aruma Resources Limited Annual Report 2024 18 Review of operations The Project is interpreted by Aruma to have multi-commodity potential.Dreadnought

74、 Resources(ASX:DRE)holds a significant landholding with its Bresnahan REE-U Project,which surrounds Arumas Project area(Figure 11).Figure 11:Saltwater Project location relative to other companies ground positions in the region.Aruma pegged the Project in 2020 for its gold prospectivity.Subsequent as

75、sessment of historic exploration within the Project area revealed REE,base metals,gold and uranium results from previous explorers in the Saltwater region.Aruma is undertaking a systematic soil sampling program of an interpreted 80km strike length as a first-step towards unlocking the Projects value

76、 potential.This work continued during the year,and is ongoing.REE Mineralisation Discovered Aruma reported the first results from its initial surface sampling program during the year(ASX announcement 12 July 2023).This sampling was successful,and significant REE and Cobalt-Copper enriched soil sampl

77、es were reported.Highlight results included;AR12232:1158ppm TREO;25%NdPr/TREO and 21%HREO/TREO AR12291:1022ppm TREO;25%NdPr/TREO and 27%HREO/TREO AR12298:0.30%Co,0.23%Cu,0.21%Zn and 4.0%Ba AR12299:0.27%Co,0.21%Cu,0.2%Zn and 3.9%Ba This sampling confirmed REE enrichment across multiple structures,alo

78、ngside significantly elevated pathfinder values of phosphorus(P),strontium(Sr)and thorium(Th).Significant base metals were also detected.The program collected samples from radiometric,geophysical,and structural targets at a high-priority radiometric target with a strike length of up to 15km.Further

79、details and commentary on results are provided in ASX announcement of 12 July 2023.Aruma Resources Limited Annual Report 2024 19 Review of operations Sample ID Easting Northing TREO%Nd2O3(kg/t)Pr6O11(kg/t)Dy2O3(kg/t)Tb2O3(kg/t)NdPr/TREO Ratio(%)HREO/TREO Ratio(%)AR12291 669573 7351337 0.102 0.21 0.0

80、5 0.03 0.01 25.16 27.2 AR12232 654239 7356565 0.116 0.23 0.06 0.02 0.004 24.82 21.1 Table 4:Significant(0.1%TREO)rare earth rock chip results(GDA94 MGAz50)Sample ID Easting Northing Co(ppm)Cu(ppm)Pb(ppm)Zn(ppm)Ba(ppm)AR12240 676373 7350730 71 117 2681 906 1036 AR12271 669415 7352084 1011 707 9 275 3

81、097 AR12295 669786 7351278 33 36 38 1082 1383 AR12297 669375 7351613 311 1117 2 931 3533 AR12298 669378 7351614 3041 2282 2 2161 39653 AR12299 669377 7351614 2737 2170 2 2002 38954 Table 5:Significant(0.1%)Base Metals Rock Chip results(GDA94 MGAz50)Soil Samples Enhance Multi-Commodity Potential Furt

82、her results from the Companys surface sampling program were reported in October.These results confirmed the presence of multiple mineralised systems,indicative of a rich seafloor and extensional basin geological setting and confirmed the presence of economic grades of manganese and cobalt(ASX announ

83、cement,18 October 2023).Results also verified the existence of large-scale Volcanogenic Massive Sulphide(VMS)systems with elements such as iron,barium,copper,lead,zinc,and arsenic.They also identified a series of sandstone-hosted uranium and vanadium anomalies.Figure 12:Aruma managing director viewi

84、ng potential enriched outcrop at Saltwater Project Gold Target Identified Further results were reported in November,and resulted in the identification of an anomalous greenfield gold target at the Terceira prospect within the Saltwater Project area(ASX announcement 28 November 2024).Highlight result

85、s included;Aruma Resources Limited Annual Report 2024 20 Review of operations SWS0180 containing 0.38g/t Au and 356ppm As SWS0179 containing 0.14g/t Au and 371ppm As SWS0181 containing 0.14g/t Au and 204ppm As SWS0178 containing 0.12g/t Au and 443ppm As The sampling program and mapping generated mul

86、tiple new targets across the Saltwater Project.These included the Inkwell Ridge prospect,which hosts in excess of 7km of anomalous iron,copper,lithium and REE rock chips(Figure 13).Figure 13:Inkwell Ridge Prospect Very high-grade REE results Selected samples from the sampling program were subjected

87、to further assessment,and were re-analysed using the sodium peroxide fusion method.Results of this work were reported in December,and returned very high-grade REE results,as high as;1777.5ppm Total Rare Earth Oxide(TREO),including 752.2ppm NdPr(Neodymium-Praseodymium).See Table 6 for results.NdPr is

88、 a key REE utilised in the production of permanent NdFeB magnets,which are core components in the production of electric vehicles(EVs).Further details are provided in ASX announcement of 18 December 2023.Aruma Resources Limited Annual Report 2024 21 Review of operations Table 6:Significant REE Sampl

89、e results(GDA94 MGAz50)Arumas soil sampling programs at the Saltwater Project to date have proved successful in providing vectors towards defining targets for further exploration.It is noted that Arumas ongoing sampling programs at Saltwater represent early-stage,first-phase exploration,and further

90、targeted exploration is required to further validate and unlock the potential of the Project.Carter Well Gold Project The Carter Well Project(E58/590)is located approximately 75km east of Mt Magnet in the Murchison region,in WA,and covers a total area of 294km2(Figure 14).The geology of the area was

91、 historically mapped as granite,but Aruma assessed the Project area as a potential new greenfields gold opportunity.Figure 14:Carter Well Project location map.The Project was interpreted by Aruma as being located on a major East-West trending dolerite dyke,with intruding Greenstones.Additionally,mag

92、netics suggested the presence of folded volcanics under laterite cover.This interpretation was supported by regional geophysical magnetic survey,which suggested that the area may not be granite,and field mapping indicated that mafic stratigraphy may exist at Carter Well.Sample IdEastingNorthingTREO

93、ppmNd2O3(kg/t)Pr6O11(kg/t)Dy2O3(kg/t)Tb2O3(kg/t)HREO LREONdPr NdPr:TREO HRE:TREOAR14079633009736806617770.610.140.030.01228154475242%13%AR14096634748736719510260.090.020.030.0116984411411%16%SWS0094669676735092810920.190.050.010.0099101424222%9%SWS010066977673509285720.110.030.010.007551213524%13%SW

94、S010267081173510415920.080.020.010.001164779416%20%Aruma Resources Limited Annual Report 2024 22 Review of operations Aruma undertook a first-pass drilling program at Carter Well to test its exploration model for the Project(ASX announcement 21 December 2023).Drilling comprised an extensive auger dr

95、illing program of approximately 1,300 auger holes,of variable spacings(Figure 15).Drilling was designed to target gold and nickel-copper pathfinder mineralisation,and provide an effective,cost-effective means of helping delineate potential anomalies within the previously unexplored Project area.Resu

96、lts were received,and no anomalous results were returned.The Carter Well Project was subsequently relinquished by Aruma.Figure 15:Auger sample location at Carter Well Project over magnetic imagery showing the targeted mafic stratigraphy(granite in transparent pink shading).Magnetic imagery is the WA

97、_20m_Mag_Merge_v1_”Total magnetic intensity(TMI)20m merged grid of Western Australia 2023 version 1 compiled by and sourced from Geological Survey of Western Australia.(No additional survey was conducted by the Company).Mt Deans Lithium Project,Norseman WA The 100%-owned Mt Deans Project(P63/2063)is

98、 situated in the Mt Deans pegmatite field,within the Eastern Goldfields Terrane of the Yilgarn Craton,approximately 200 kilometres south of the major regional centre of Kalgoorlie and approximately 10 kilometres south of the mining town of Norseman(Figure 16).The Project sits within the lithium corr

99、idor in south-east WA,which hosts multiple significant hard-rock lithium projects.It is interpreted to sit within the same host rocks and structures as the significant nearby Mt Marion,Bald Hill and Buldania Lithium Projects.Aruma Resources Limited Annual Report 2024 23 Review of operations During t

100、he year,Aruma continued to assess plans and opportunities to unlock the value of the project.A Programme of Work(PoW)was submitted for a planned next phase of drilling.This is proposed to be a diamond drilling program,with the primary purpose to provide core for more detailed metallurgical test-work

101、.The Conservation Management Plan was updated to align with the addition of diamond drilling.Figure 16:Mt Deans Project location in the Eastern Goldfields Lithium corridor An initial phase of metallurgical test work was conducted in 2023,with results confirming that a lithium concentrate may be prod

102、uced from the Mt Deans pegmatites via simple flotation.This test work also highlighted the potential value of tin and tantalum at Mt Deans,with both being able to be separated in the flotation process.Further details were reported in ASX announcement of 3 May 2023.Melrose Gold Project The Melrose Pr

103、oject is located immediately adjacent to the Paulsens Gold Project,which was acquired by Black Cat Syndicate(ASX:BC8)from Northern Star Resources(ASX:NST),in the Pilbara region of WA.No on-ground exploration was undertaken at this project during the year.Aruma Resources Limited Annual Report 2024 24

104、 Review of operations Competent Persons Statement The information in this release that relates to Exploration Results,Mineral Resources or Ore Reserves is based on information compiled by Glenn Grayson who is a Member of the Australian Institute of Geoscience(AIG).Mr Grayson is Managing Director and

105、 a full-time employee of the Company.Mr Grayson has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reportin

106、g of Exploration Results,Mineral Resources and Ore Reserve.Mr Grayson consents to the inclusion in the release of the matters based on his information in the form and context in which it appears.All exploration results reported have previously been released to ASX and are available to be viewed on t

107、he Company website .au.The Company confirms it is not aware of any new information that materially affects the information included in the original announcement.The Company confirms that the form and context in which the Competent Persons findings are presented have not been materially modified from

108、 the original announcements.Forward Looking Statement Certain statements contained in this document constitute forward looking statements.Such forward-looking statements are based on a number of estimates and assumptions made by the Company and its consultants in light of experience,current conditio

109、ns and expectations of future developments which the Company believes are appropriate in the current circumstances.These estimates and assumptions while considered reasonable by the Company are subject to known and unknown risks,uncertainties and other factors which may cause the actual results,achi

110、evements and performance of the Company to be materially different from the future results and achievements expressed or implied by such forward-looking statements.Forward looking statements include,but are not limited to,statements preceded by words such as“planned”,“expected”,“projected”,“estimate

111、d”,“may”,“scheduled”,“intends”,“anticipates”,“believes”,“potential”,“could”,“nominal”,“conceptual”and similar expressions.There can be no assurance that Aruma plans to develop exploration projects that will proceed with the current expectations.There can be no assurance that Aruma will be able to co

112、nform the presence of Mineral Resources or Ore Reserves,that any mineralisation will prove to be economic and will be successfully developed on any of Arumas mineral properties.Investors are cautioned that forward looking information is no guarantee of future performance and accordingly,investors ar

113、e cautioned not to place undue reliance on these forward-looking statements.Corporate The Group incurred an after-tax loss for the year of$1,125,944(2023:$3,045,244).The Group had a cash balance at 30 June 2024 of$2,143,785(2023:$3,154,923).Aruma received an R&D tax incentive offset of$1,146,363(202

114、3:$837,176)before costs during the year.Board and Management At a general meeting held on 18 August 2023 shareholders approved the issue of 9,000,000 incentive options to Directors.The options,which are not listed,have an exercise price of$0.10 and an expiry date of 30 June 2026.15,000,000 options w

115、ere also issued to GBA Capital on the same terms as part of a share placement which was completed in June 2023 raising$2,275,940 before issue costs.Annual General Meeting The Company held its annual general meeting on 22 November 2023 at 2 Richardson Street,West Perth,Western Australia,and all resol

116、utions were carried by the required majority by poll.Aruma Resources Limited Annual Report 2024 25 Directors report Your directors present their report together with the financial statements of the Group consisting of Aruma Resources Limited(“the Company”)and the entities it controlled(together the“

117、Group”)for the financial year ended 30 June 2024.In order to comply with the provisions of the Corporations Act 2001,the Directors report as follows:1.INFORMATION ABOUT THE OFFICERS OF THE COMPANY The names and particulars of the officers of the Company during or since the end of the year are:Mr.Jam

118、es Moses B Bus,Grad Dip Journalism Non-executive Chairman Appointed Non-executive Director 1st August 2022,appointed Non-executive Chairman 9th November 2022 Mr Moses has an extensive background in investment markets in a career spanning 33 years.He is the founder and Managing Director of a leading

119、Australian bespoke investor relations and corporate communications practice for public companies.Prior to this,he was Investor Relations Manager for a major national public relations firm.He also previously worked as a business and finance journalist.His career began in the investment markets,where

120、he held multiple business development roles with leading global fund managers over a period of 15 years and was also a private client adviser for a high net worth investment advisory firm.Mr Moses is currently a Non-executive Director of Power Minerals Limited.Mr.Brett Smith BSc(Hons),FAIG,MAICD Non

121、-executive Director Appointed 1st August 2022 Mr Smith is a geologist with more than 30 years experience in the mining and exploration industries,where he has held numerous senior executive and management positions,and consulting roles.He has extensive,specific expertise in exploration and resource

122、definition and has overseen resource projects across a diverse range of commodities in Australia and international jurisdictions.He has a BSc(Honours)in Geology from the James Cook University of North Queensland and is a member of the Australian Institute of Geoscientists and a Member of the Austral

123、ian Institute of Company Directors.Mr Smith is currently Managing Director of nickel-focused exploration and development company Corozon Mining Limited(ASX:CZN)and a Non-executive Director of diversified exploration company TG Metals Limited(ASX:TG6).Aruma Resources Limited Annual Report 2024 26 Dir

124、ectors report Mr.Glenn Grayson BSc APPGEOL,Grad Dip Geospatial Information(RMIT)MAUSIMM Managing Director Appointed 20th January 2023 Mr Grayson is a geologist with deep exploration experience in the goldfields of Western Australia.He has held senior roles with Kin Mining NL,Northern Star Resources

125、and Barrick Gold.Mr Grayson has a successful track record of evaluating and generating gold resources through exploration success and brings a wealth of Knowledge to the Aruma team.He has a BSc in Geology from Ballarat University,a Diploma in Project Management(NSWTafe),Graduate Diploma in Geospatia

126、l Information(RMIT)and is a member of the Australian Institute of Geoscientists and AUSIMM Mr Grayson has not held a directorship in any public listed companies in the last 3 years.Mr.Phillip MacLeod B Bus,FGIA,MAICD Company secretary Appointed 5th January 2010 Mr MacLeod has over 30 years commercia

127、l experience and has held the position of company secretary with listed public companies since 1995.Mr MacLeod has provided corporate,management and accounting advice to public and private companies involved in the resource,technology,property and healthcare industries.2.FINANCIAL AND OPERATING REVI

128、EW The Group made an after-tax loss for the year of$1,125,944(2023:$3,045,244).The Group had cash and term deposit balances at 30 June 2024 of$2,143,785(2023:$3,225,653).Aruma received an R&D tax incentive offset of$1,146,363(2023:$837,176)before costs during the year.Share-based payments expenses o

129、f$101,966(2023:$nil)were incurred during the year as a result of 9,000,000 incentive options issued to Directors during the year.Full details of the options issued are disclosed in the notes to the consolidated financial statements.A review of operations is on pages 5 to 25.Aruma Resources Limited A

130、nnual Report 2024 27 Directors report 3.DIRECTORS MEETINGS The number of directors meetings held,and the number of meetings attended by each of the directors of the Company during their term in office during the period is as follows.Director Meetings Held Meetings Attended James Moses 4 4 Glenn Gray

131、son 4 4 Brett Smith 4 4 The Company does not have any committees.Matters usually considered by an audit,remuneration or nomination committee were dealt with by the directors during regular Board meetings.4.REMUNERATION REPORT(AUDITED)4.1 Principles of compensation Remuneration is referred to as comp

132、ensation throughout this report.Key management personnel have authority and responsibility for planning,directing and controlling the activities of the Group,including the directors of the Company and other executives.Key management personnel comprise the directors of the Company and other executive

133、s.Remuneration levels for key management personnel and other staff of the Company are competitively set to attract and retain appropriately qualified and experienced directors and executives and take account of factors such as length of service,particular experience,and expertise.The non-executive d

134、irector receives a fixed fee of$48,000 per annum.The Chairman receives a fixed fee of$72,000 per annum plus superannuation or GST as applicable.Performance rights issued to KMP subsequent to the reporting date are dependent on the satisfaction of various performance conditions.The Company does not h

135、ave a policy for key management personnel on hedging their equity positions against future losses.Aruma Resources Limited Annual Report 2024 28 Directors report 4.REMUNERATION REPORT(AUDITED)4.2 Remuneration of directors and senior management(audited)Key management personnel remuneration for the yea

136、rs ended 30 June 2024 and 30 June 2023.(1)retired 9 November 2022 (2)retired 1 August 2022(3)resigned 30 June 2023 Year Short-term Post-employment Other long term$Termination Benefit$Share-based Payments Total$Proportion of remuneration performance related%Value of options as proportion of remunerat

137、ion Salary&Fees$Cash Bonus$Non-monetary Benefits$Total$Superannuation Benefits$Options$Non-Executive Directors Mr J Moses 2024 72,000-72,000-22,659 94,659-23.94%2023 56,200-56,200-56,200-Mr B Smith 2024 45,622-45,622 2,378-11,330 59,330-19.10%2023 36,719-36,719 3,856-40,575-Mr P Boyatzis(1)2023 36,0

138、00-36,000-36,000-Dr Mark Elliott(2)2023 3,000-3,000-3,000-Executive Director Mr G Grayson 2024 275,000-275,000 30,250-67,977 373,227-18.21%2023 189,263-189,263 19,873-209,136-Mr P Schwann(3)2023 321,049-321,049 20,458-341,508-Total 2024 392,622-392,622 32,628-101,966 527,216-19.34%2023 642,231-642,2

139、31 44,187-686,418-Aruma Resources Limited Annual Report 2024 29 Directors report 4.REMUNERATION REPORT(AUDITED)4.3 Share-based payments granted as compensation for the current year Options During the year there were 9,000,000(2023:none)options over unissued shares granted to key management personnel

140、(KMP)as part of their remuneration.The options have an exercise price of$0.10 and an expiry date of 30 June 2026.The expense recognised during the year was$101,966(2023:$nil).No options granted to KMP were exercised during the year.No options granted to current KMP lapsed unexercised during the year

141、.There were no alterations to the terms and conditions of options granted as remuneration since their grant date.Values of options over ordinary shares granted,exercised and lapsed for directors and other key management personnel as part of compensation during the year ended 30 June 2024 are set out

142、 below:4.4 Service agreement Managing Director,Mr Glenn Graysons remuneration commencing 20 January 2023 consists of$275,000 per annum base salary plus statutory superannuation and provision of a laptop computer and mobile phone.Mr Grayson is engaged with a three month notice period for cessation to

143、 be given in writing by either party.The Company has no other service agreements with any other key management personnel.END OF REMUNERATION REPORT(AUDITED)5.SHARE OPTIONS Unissued shares under option There are 85,930,003 options(2023:9,066,669)over unissued shares in Aruma at the reporting date.Sha

144、re options lapsed 2,066,669 options lapsed unexercised the year(2023:19,444,472).Share options issued There were 9,000,000 options over unissued shares in Aruma issued during the year as share-based compensation to directors(2023:none).Director Value of options granted during the year$Value of optio

145、ns exercised during the year$Value of options lapsed during the year$J Moses 22,659-B Smith 11,330-G Grayson 67,977-Aruma Resources Limited Annual Report 2024 30 Directors report Shares issued on exercise of options There were no ordinary shares issued as a result of the exercise of options during t

146、he year.6.PRINCIPAL ACTIVITY The principal activity of the Group during the year was mineral exploration in Australia.7.REVIEW OF OPERATIONS The Group made a loss after tax for the year of$1,125,944(2023:$3,045,244).The Group had cash and cash equivalent balances at 30 June 2024 of$2,143,785,a decre

147、ase of$1,011,138 on the prior year.On 27 May 2024 the Company announced the acquisition of a portfolio of copper and uranium exploration assets in tier 1 mineral precincts in South Australia and Queensland.Consideration for the acquisition by Aruma consisted of the following:26,500,000 ordinary shar

148、es which will be subject to a 6 month voluntary escrow from the date of issue 24,500,000 options exercisable at nil exercise price subject to Aruma securing all required approvals for drilling at the Wilan project.28,000,000 options exercisable at nil exercise price subject to Aruma reporting a dril

149、l intercept of at least 3 metres at 600ppm U3O8 or at least 20m at 0.8%Cu or metals equivalent at one of the new projects:and Aruma will also pay a 2%NSR to the shareholders for the vendors NHM Holdings(Australia)Pty Ltd over any minerals extracted and sold from the new projects The acquisition was

150、subject to shareholder approval which was granted at an extraordinary general meeting held on 1 August 2024.Information on the operations of the Group and its business strategies are set out on pages 5 to 25 of the annual report.8.DIVIDENDS No dividends were paid or declared by the Company during th

151、e year or since the end of the year.9.EVENTS SUBSEQUENT TO REPORTING DATE On 1 August 2024 an extraordinary general meeting of shareholders of the Company was held.Resolutions which were approved at the meeting included the following:Issue of 26,500,000 settlement shares and 52,500,000 milestone opt

152、ions to the shareholders of NHM Holdings(Australia)Pty Ltd(refer ASX announcement 29 May 2024)Approval of the terms of a buy-back of 1,333,334 shares from Acuity Capital Approval to issue 19,700,000 Performance Rights to Directors with an exercise price of nil with vesting conditions related to mile

153、stones associated with exploration projects acquired from NHM Holdings(Australia)Pty Ltd as outlined in the Notice of EGM dated 28 June 2024 Aruma Resources Limited Annual Report 2024 31 Directors report The Company entered into a Controlled Placement Agreement(CPA)with Acuity Capital in January 201

154、8.The facility matured and was not extended for a further term.The 1,333,334 shares held by Acuity as security for the CPA facility were returned to the Company for nil consideration in accordance with the terms of the agreement(“Buyback”)and were cancelled on 7 August 2024.The Buyback was subject t

155、o shareholder approval,which was granted at an Extraordinary General Meeting held on 1 August 2024.Other than the above no matter or circumstance has arisen since 30 June 2024 that has significantly affected,or may significantly affect the consolidated entitys operations,the results of those operati

156、ons,or the consolidated entitys state of affairs in future financial years.10.LIKELY DEVELOPMENTS The Group will continue planning and executing mineral exploration work on its existing projects as well as any new projects or investments,which come under review during the financial year.11.DIRECTORS

157、 INTERESTS The relevant interest of each director in the shares and options of the Company as notified by the directors to the Australian Securities Exchange in accordance with S205G(1)of the Corporations Act 2001,at the date of this report is as follows:Director Ordinary shares Options over shares

158、Performance rights Mr.J Moses 1,639,655 2,000,000 6,402,500 Mr G Grayson-6,000,000 8,865,000 Mr.B Smith-1,000,000 4,432,500 12.ENVIRONMENTAL REGULATIONS During its normal exploration and evaluation activities the Group adheres to environmental regulations imposed on it by the various regulatory auth

159、orities,particularly those regulations relating to ground disturbance and the protection of rare and endangered flora and fauna.The Group has complied with all material environmental requirements up to the date of this report.The Board believes that the Group has adequate systems in place for the ma

160、nagement of its environmental requirements and is not aware of any breach of these environmental requirements as they apply to the Group.13.INDEMNIFICATION OF OFFICERS AND AUDITORS The Company has entered into Director and Officer Protection Deeds(Deed)with each Director and the Company Secretary(of

161、ficers).Under the Deed,the Company indemnifies the officers to the maximum extent permitted by law and the Constitution against legal proceedings,damage,loss,liability,cost,charge,expense,outgoing or payment(including legal expenses on a solicitor/client basis)suffered,paid or incurred by the office

162、rs in connection with the officers being an officer of the Company,the employment of the officer with the Company or a breach by the Company of its obligations under the Deed.Aruma Resources Limited Annual Report 2024 32 Directors report Also pursuant to the Deed,the Company must insure the officers

163、 against liability and provide access to all board papers relevant to defending any claim brought against the officers in their capacity as officers of the Company.The Company has paid insurance premiums during the year in respect of liability for any past,present or future directors,secretary,offic

164、ers and employees of the Company or related body corporate.The insurance policy does not contain details of the premium paid in respect of individual officers of the Company.Disclosure of the nature of the liability cover and the amount of the premium is subject to a confidentiality clause under the

165、 insurance policy.The Company has not provided any insurance or indemnification for the Auditor of the Company.14.NON-AUDIT SERVICES Details of the amounts paid to the auditor of the Group,Elderton Audit Pty Ltd and its related practices for audit and non-audit services provided are set out below:CO

166、NSOLIDATED 2024$CONSOLIDATED 2023$Audit and review of financial reports 22,900 22,200 Non-audit services Taxation services-22,900 22,200 15.AUDITORS INDEPENDENCE DECLARATION UNDER SECTION 307C OF THE CORPORATIONS ACT 2001 The auditors independence declaration as required under section 307c of the Co

167、rporations Act 2001 is set out on the following page.Aruma Resources Limited Annual Report 2024 33 Directors report 16.SIGNIFICANT CHANGES IN STATE OF AFFAIRS In the opinion of directors there were no significant changes in the state of affairs of the Group that occurred during the year.This report

168、is made with a resolution of the directors.Glenn Grayson Managing Director Perth,Western Australia Dated 20th September 2024 Auditors Independence Declaration To those charged with governance of Aruma Resources Limited;As auditor for the audit of Aruma Resources Limited for the year ended 30 June 20

169、24,I declare that,to the best of my knowledge and belief,there have been:i)no contraventions of the independence requirements of the Corporations Act 2001 in relation to the audit;and ii)no contraventions of any applicable code of professional conduct in relation to the audit.This declaration is in

170、respect of Aruma Resources Limited and the entities it controlled during the year.Elderton Audit Pty Ltd Rafay Nabeel Director Perth 20th September 2024 Aruma Resources Limited Annual Report 2024 35 Consolidated statement of comprehensive income For the year ended 30 June 2024 The above consolidated

171、 statement of comprehensive income should be read in conjunction with the accompanying notes.Note CONSOLIDATED 2024$CONSOLIDATED 2023$Revenue -Other income 3 1,146,363 837,176 Exploration and evaluation expenditure expensed as incurred (941,301)(2,511,789)Depreciation 4(35,340)(30,568)Directors remu

172、neration 26,27(527,216)(686,418)Employee benefits (262,407)(91,909)Legal and professional fees (272,940)(176,143)Occupancy expenses (31,811)(30,413)Marketing and promotion (153,633)(239,297)Other expenses (158,595)(180,574)Loss from operating activities (1,236,880)(3,119,935)Financial income 113,128

173、 77,992 Financial expense (2,192)(3,301)Net financing income 5 110,936 74,691 Loss before income tax expense (1,125,944)(3,045,244)Income tax expense 8-Other comprehensive income/(expense)Items that may not be classified to profit and loss Net change in the fair value of financial assets 13(15,000)(

174、18,000)Other comprehensive income/(expense)for the year,net of tax (15,000)(18,000)Total comprehensive loss for the year (1,140,944)(3,063,244)Loss per share Basic and diluted loss per share(cents per share)7(0.57)cents (1.92)cents Aruma Resources Limited Annual Report 2024 36 Consolidated statement

175、 of financial position For the year ended 30 June 2024 The above consolidated statement of financial position should be read in conjunction with the accompanying notes.Note CONSOLIDATED 2024$CONSOLIDATED 2023$ASSETS Current assets Cash and cash equivalents 10 2,143,785 3,154,923 Trade and other rece

176、ivables 11 35,116 108,075 Term deposit investments 12 73,640 70,730 Other financial assets 13 18,000 33,000 Other current assets 14 83,975 43,085 Total current assets 2,354,516 3,409,813 Non-current assets Plant and equipment 15 47,610 53,260 ROU asset 16 5,300 26,492 Total non-current assets 52,910

177、 79,752 Total assets 2,407,426 3,489,565 LIABILITIES Current liabilities Trade and other payables 17 127,992 125,762 ROU lease liability 18 5,879 21,807 Provisions 19 23,473 49,881 Total current liabilities 157,344 197,450 Non-current liabilities Current liabilities ROU lease liability 20-5,880 Tota

178、l non-current liabilities -5,880 Total liabilities 157,344 203,330 Net assets 2,250,082 3,286,235 Equity Issued capital 22 22,582,145 22,749,263 Reserves 23 749,054 760,907 Accumulated losses 24(21,081,117)(20,223,935)Total equity 2,250,082 3,286,235 Aruma Resources Limited Annual Report 2024 37 Con

179、solidated statement of cash flows For the year ended 30 June 2024 Note CONSOLIDATED 2024$CONSOLIDATED 2023$Cash flows from operating activities Receipts from exploration activities -Receipts from R&D tax incentive 1,146,363 837,176 Interest received 108,176 77,992 Interest paid (2,192)(3,301)Explora

180、tion expenditure (991,063)(2,809,252)Payments to suppliers and employees (1,244,941)(1,624,4156)Net cash used in operating activities 30(b)(983,657)(3,521,801)Cash flows from investing activities Transfer to term deposit -(70,730)Payments for purchase of plant and equipment (8,498)(29,407)Net cash u

181、sed in investing activities (8,498)(100,137)Cash flows from financing activities Proceeds from issue of securities 40,000 2,275,940 Costs of issue (37,175)(185,788)Repayments of ROU lease (21,808)(14,699)Net cash provided by/(used in)financing activities (18,983)2,075,453 Net decrease in cash and ca

182、sh equivalents (1,011,138)(1,546,485)Cash and cash equivalents at beginning of the year 3,154,923 4,701,408 Cash and cash equivalents at end of the year 30(a)2,143,785 3,154,923 The above consolidated statement of cash flows should be read in conjunction with the accompanying notes.Aruma Resources L

183、imited Annual Report 2024 38 Consolidated statement of changes in equity For the Year Ended 30 June 2024 Issued capital$Accumulated losses$Share-based payment reserve$Fair value reserve$Total equity$Balance at 1 July 2022 20,659,111(17,178,691)774,782 4,125 4,259,327 Loss for the year-(3,045,244)-(3

184、,045,244)Net change in value of financial assets-(18,000)(18,000)Total comprehensive loss for the year-(3,045,244)-(18,000)(3,063,244)Shares issued for cash 2,275,940-2,275,940 Share issue costs(185,788)-(185,788)Balance at 30 June 2023 22,749,263(20,223,935)774,782(13,875)3,286,235 Balance at 1 Jul

185、y 2023 22,749,263(20,223,935)774,782(13,875)3,286,235 Loss for the year-(1,125,944)-(1,125,944)Net change in value of financial assets-(15,000)(15,000)Total comprehensive loss for the year-(1,125,944)-(15,000)(1,140,944)Share-based payments-Directors-101,966-101,966 Share-based payments Lead manager

186、(169,943)-169,943-Expiry of options-268,762(268,762)-Shares issued for cash 40,000-40,000 Share issue costs(37,175)-(37,175)Balance at 30 June 2024 22,582,145(21,081,117)777,929(28,875)2,250,082 The above consolidated statement of changes in equity should be read in conjunction with the accompanying

187、 notes.Aruma Resources Limited Annual Report 2024 39 Notes to the consolidated financial statements For the year ended 30 June 2024 1.General information The consolidated financial statements cover Aruma Resources Limited as a consolidated entity and the entities it controlled at the end of or durin

188、g the financial year ended 30 June 2024.The financial statements are presented in Australian dollars,which is Aruma Resources functional and presentation currency.Aruma Resources Limited is a listed public company limited by shares,incorporated and domiciled in Australia.Its registered office is:Uni

189、ts 8-9 88 Forrest Street COTTESLOE WA 6011 The financial statements were authorised for issue in accordance with a resolution of directors,on 20th September 2024.The directors have the power to amend and reissue the financial statements.2.Material accounting policy information The accounting policie

190、s that are material to the consolidated entity are set out below.The accounting policies adopted are consistent with those of the previous financial year,unless otherwise stated.Basis of preparation These financial statements are general purpose financial statements which have been prepared in accor

191、dance with the Corporations Act 2001,Australian Accounting Standards and comply with other requirements of the law.The consolidated financial statements and notes of the Group comply with International Financial Reporting Standards(IFRS)issued by the International Accounting Standards Board.The fina

192、ncial report has been prepared based on historical cost.Cost is based on the fair values of the consideration given in exchange for assets.All amounts are presented in Australian dollars,the Groups functional currency,unless otherwise noted.Going concern The financial report is prepared the basis th

193、at the entity is a going concern,which contemplates the continuity of normal business activity.The Directors consider the going concern basis of accounting to be appropriate based on forecast cash flows.Adoption of new and revised standards The Group has adopted all the new and revised Standards and

194、 Interpretations issued by the Australian Accounting Standards Board(the AASB)that are relevant to their operations and effective for the current year.Any new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted.Aruma Resources Limited Annual Repo

195、rt 2024 40 Notes to the consolidated financial statements For the year ended 30 June 2024 2.Material accounting policy information(continued)Standards and interpretations in issue not yet adopted The Group has reviewed the new and revised Standards and Interpretations in issue not yet adopted for th

196、e year ended 30 June 2023.As a result of this review the Group has determined that there is no material impact of the Standards and Interpretations in issue not yet adopted on the Group;therefore,no change is necessary to Group accounting policies.Basis of consolidation The consolidated financial st

197、atements comprise the consolidated financial statements of Aruma Resources Limited(“Company”or“Parent”)and its subsidiary as at 30 June each year(the“Group”).Control is achieved where the Company has exposure to variable returns from its involvement with the entity and the power to affect those retu

198、rns.The financial statements of the subsidiary are prepared for the same reporting period as the parent company,using consistent accounting policies.In preparing the consolidated financial statements,all intercompany balances and transactions,income and expenses and profit and losses resulting from

199、intra-group transactions have been eliminated in full.Subsidiaries are fully consolidated from the date on which control is transferred to the Group and cease to be consolidated from the date on which control is transferred out of the Group.Control exists where the Company has the power to govern th

200、e financial and operating policies of an entity to obtain benefits from its activities.The existence and effect of potential voting rights that are currently exercisable or convertible are considered when assessing when the Group controls another entity.Revenue recognition Interest revenue Interest

201、revenue is recognised when it is probable that the economic benefits will flow to the Group and the amount of revenue can be measured reliably.Interest revenue is accrued on a time basis,by reference to the principal outstanding and at the effective interest rate applicable,which is the rate that ex

202、actly discounts estimated future cash receipts through the expected life of the financial asset to that assets net carrying amount on initial recognition.Research&Development Research and development(“R&D”)tax incentive claims are recognised when the Company is notified that its R&D claim has been a

203、ccepted.Grant funding Exploration Incentive Scheme grants are recognised where there is reasonable assurance that the entity will comply with the conditions attached to the grants and that the grants will be received.Aruma Resources Limited Annual Report 2024 41 Notes to the consolidated financial s

204、tatements For the year ended 30 June 2024 2.Material accounting policy information(continued)Plant&equipment Items of plant and equipment are measured at cost less accumulated depreciation and impairment losses.Depreciation is charged to the statement of profit or loss and other comprehensive income

205、 on a diminishing value basis over the estimated useful lives of each part of an item of plant and equipment.The estimated useful lives in the current and comparative periods are as follows:(i)Computer software 2.5 years(ii)Computer hardware 4 years(iii)Office equipment 5-7 years(iv)Field equipment

206、5 years Depreciation methods,useful lives and residual values are reviewed at each reporting date.Cash and cash equivalents Cash comprises cash at bank and in hand.Cash equivalents are short term,highly liquid investments that are readily convertible to known amounts of cash and which are subject to

207、 an insignificant risk of changes in value.Bank overdrafts are shown within borrowings in current liabilities in the statement of financial position.For the purposes of the statement of cash flows,cash and cash equivalents consist of cash and cash equivalents as defined above,net of outstanding bank

208、 overdrafts.Impairment Non-financial assets The carrying amounts of the Groups non-financial assets,other than inventories and deferred tax assets,are reviewed at each reporting date to determine whether there is any indication of impairment.If any such indication exists,then the assets recoverable

209、amount is estimated.For goodwill and intangible assets that have indefinite lives or that are not yet available for use,the recoverable amount is estimated each year at the same time.The recoverable amount of an asset or cash-generating unit is the greater of its value in use and its fair value less

210、 costs to sell.In assessing value in use,the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset.For the purpose of impairment testing,assets are groupe

211、d together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets(the“cash-generating unit”).Aruma Resources Limited Annual Report 2024 42 Notes to the consolidated financial statements Fo

212、r the year ended 30 June 2024 2.Material accounting policy information(continued)Impairment Non-financial assets The goodwill acquired in a business combination,for the purpose of impairment testing,is allocated to cash-generating units that are expected to benefit from the synergies of the combinat

213、ion.An impairment loss is recognised if the carrying amount of an asset or its cash-generating unit exceeds its recoverable amount.Impairment losses are recognised in profit or loss.Impairment losses recognised in respect of cash-generating units are allocated first to reduce the carrying amount of

214、any goodwill allocated to the units and then to reduce the carrying amount of the other assets in the unit(group of units)on a pro rata basis.An impairment loss in respect of goodwill is not reversed.In respect of other assets,impairment losses recognised in prior periods are assessed at each report

215、ing date for any indications that the loss has decreased or no longer exists.An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount.An impairment loss is reversed only to the extent that the assets carrying amount does not exceed the carry

216、ing amount that would have been determined,net of depreciation or amortisation,if no impairment loss had been recognised.Issued capital Ordinary shares Ordinary shares are classified as issued capital.Incremental costs directly attributable to the issue of ordinary shares and share options are recog

217、nised as a deduction from equity,net of any tax effects.Employee benefits A liability is recognised for benefits accruing to employees in respect of wages and salaries,annual leave,long service leave and sick leave when it is probable that settlement will be required,and they are capable of being me

218、asured reliably.Liabilities recognised in respect of short-term employee benefits,are measured at their nominal values using the remuneration rate expected to apply at the time of settlement.Liabilities recognised in respect of long-term employee benefits are measured as the present value of the est

219、imated future cash outflows to be made by the Group in respect of services provided by employees up to reporting date.Contributions to defined contribution retirement benefit plans are recognised as an expense when employees have rendered service entitling them to the contributions.Aruma Resources L

220、imited Annual Report 2024 43 Notes to the consolidated financial statements For the year ended 30 June 2024 2.Material accounting policy information(continued)Income tax Income tax on the consolidated statement of profit or loss and other comprehensive income for the periods presented comprises curr

221、ent payable and deferred tax.Income tax is recognised in the consolidated statement of profit or loss and other comprehensive income except to the extent that it relates to items recognised directly in equity,in which case it is recognised in equity.Current tax is the expected tax payable on the tax

222、able profit for the year.Taxable profit differs from profit as reported in the consolidated statement of profit or loss and other comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are not taxable or deductible.The Groups liability

223、 for current tax is calculated using tax rates enacted or substantially enacted at the reporting date,and any adjustment to tax payable in respect of previous years.Deferred tax is provided using the balance sheet liability method,providing for temporary differences between the carrying amounts of a

224、ssets and liabilities for financial reporting purposes and the amounts used for taxation purposes.The following temporary differences are not provided for:the initial recognition of assets or liabilities that affect neither accounting,nor taxable profit and differences relating to investments in sub

225、sidiaries to the extent that they will probably not reverse in the foreseeable future.The amount of deferred tax provided is based on the expected manner of realisation or settlement of the carrying amount of assets and liabilities,using tax rates enacted or substantially enacted at the reporting da

226、te.A deferred tax asset is recognised only to the extent that it is probable that future taxable profits will be available against which the asset can be utilised.Deferred tax assets are reduced to the extent that it is no longer probable that the related tax benefit will be realised.Provisions Prov

227、isions are recognised when the Group has a present obligation(legal or constructive)as a result of a past event,it is probable that the Group will be required to settle the obligation,and a reliable estimate can be made of the amount of the obligation.The amount recognised as a provision is the best

228、 estimate of the consideration required to settle the present obligation at the end of the reporting period,taking into account the risks and uncertainties surrounding the obligation.Where a provision is measured using the cash flows estimated to settle the present obligation,its carrying amount is

229、the present value of those cash flows.When some or all of the economic benefits required to settle a provision are expected to be recovered by a third party,a receivable is recognised as an asset if it is virtually certain that reimbursement will be received,and the amount of the receivable can be m

230、easured reliably.A provision is recognised in the consolidated statement of financial position when the Group has a present legal or constructive obligation as a result of a past event,and it is probable that an outflow of economic benefits will be required to settle the obligation.If the effect is

231、material,provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and,when appropriate,the risks specific to the liability.Aruma Resources Limited Annual Report 2024 44 Notes to the consolidated fina

232、ncial statements For the year ended 30 June 2024 2.Material accounting policy information(continued)Goods and services and tax Revenues,expenses and assets are recognised net of the amount of goods and services tax(GST)except:i.where the amount of GST incurred is not recoverable from the taxation au

233、thority,it is recognised as part of the cost of acquisition of an asset or as part of an item of expense;or ii.for receivables and payables which are recognised inclusive of GST.The net amount of GST recoverable from,or payable to the taxation authority is included as part of the receivables or paya

234、bles.Cash flows are included in the statement of cash flows on a gross basis.The GST component of cash flows arising from investment or financing activities which is payable to or recoverable from,the taxation authority is classified within operating cash flows.Exploration and evaluation Exploration

235、 and evaluation costs,excluding the costs of acquiring licences,are expensed as incurred.Acquisition costs will be assessed on a case by case basis and,if appropriate,they will be capitalised.These acquisition costs are carried forward only if the rights to tenure of the area of interest are current

236、 and either:They are expected to be recouped through successful development and exploitation of the area of interest;or The activities in the area of interest at the reporting date have not reached a stage which permits a reasonable assessment of the existence or otherwise of economically recoverabl

237、e reserves,and active and significant operations in,or in relation to,the area of interest is continuing.Accumulated acquisition costs in relation to an abandoned area are written off in full against profit in the year in which the decision to abandon the area is made.The carrying values of acquisit

238、ion costs are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.Earnings per share The Company presents basic and diluted earnings per share(EPS)data for its ordinary shares.Basic EPS is calculated by dividing the profit or loss attrib

239、utable to ordinary shareholders of the Company by the weighted average number of ordinary shares outstanding during the period.Diluted EPS is determined by adjusting the profit or loss attributable to ordinary shareholders and the weighted average number of shares outstanding for the effects of all

240、potentially dilutive ordinary shares,which comprise convertible notes and share options granted to employees.Aruma Resources Limited Annual Report 2024 45 Notes to the consolidated financial statements For the year ended 30 June 2024 2.Material accounting policy information(continued)Segment reporti

241、ng Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker.The chief operating decision maker,who is responsible for allocating resources and assessing performance of the operating segments,has been identified as the Board of

242、Directors of Aruma.Financial instruments Initial recognition and measurement Financial assets and financial liabilities are recognised when the Group becomes a party to the contractual provisions to the instrument.For financial assets,this is the date that the Group commits itself to either the purc

243、hase or sale of the asset(i.e.,trade date accounting is adopted).Financial instruments(except for trade receivables)are initially measured at fair value plus transaction costs,except where the instrument is classified at fair value through profit or loss,in which case transaction costs are expensed

244、to profit or loss immediately.Where available,quoted prices in an active market are used to determine fair value.In other circumstances,valuation techniques are adopted.Trade receivables are initially measured at the transaction price if the trade receivables do not contain significant financing com

245、ponent or if the practical expedient was applied as specified in AASB 15.63.Classification and subsequent measurement Financial assets Financial assets are subsequently measured at:amortised cost;fair value through other comprehensive income;or fair value through profit or loss On the basis of the t

246、wo primary criteria:the contractual cash flow characteristics of the financial asset;and the business model for managing the financial assets A financial asset is subsequently measured at amortised cost when it meets the following conditions:the financial asset is managed solely to collect contractu

247、al cash flows;and the contractual terms within the financial asset give rise to cash flows that are solely payments of principal and interest on the principal amount outstanding on specified dates.A financial asset is subsequently measured at fair value through other comprehensive income when it mee

248、ts the following conditions:the contractual terms within the financial asset give rise to cash flows that are solely payments of principal and interest on the principal amount outstanding on specified dates;and Aruma Resources Limited Annual Report 2024 46 Notes to the consolidated financial stateme

249、nts For the year ended 30 June 2024 2.Material accounting policy information(continued)Financial instruments(continued)the business model for managing the financial asset comprises both contractual cash flows collection and the selling of the financial asset.By default,all other financial assets tha

250、t do not meet the measurement conditions of amortised cost and fair value through other comprehensive income are subsequently measured at fair value through profit or loss.Financial liabilities Financial liabilities are subsequently measured at:amortised cost;or fair value through profit or loss A f

251、inancial liability is measured at fair value through profit and loss if the financial liability is:a contingent consideration of an acquirer in a business combination to which AASB 3 applies held for trading;or initially designated as at fair value through profit or loss All other financial liabilit

252、ies are subsequently measured at amortised cost using the effective interest method.The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating interest expense over in profit or loss over the relevant period.The effective interest rate is the i

253、nternal rate of return of the financial asset or liability.That is,it is the rate that exactly discounts the estimated future cash flows through the expected life of the instrument to the net carrying amount at initial recognition.A financial liability is held for trading if it is:incurred for the p

254、urpose of repurchasing or repaying in the near term;part of a portfolio where there is an actual pattern of short-term profit taking;or a derivative financial instrument(except for a derivative that is in a financial guarantee contract or a derivative that is in an effective hedging relationship)Any

255、 gains or losses arising on changes in fair value are recognised in profit or loss to the extent that they are not part of a designated hedging relationship.Ordinary shares Ordinary shares are classified as equity.Incremental costs directly attributable to the issue of ordinary shares are recognised

256、 as a deduction from equity,net of any tax effects.Aruma Resources Limited Annual Report 2024 47 Notes to the consolidated financial statements For the year ended 30 June 2024 2.Material accounting policy information(continued)Financial instruments(continued)Derecognition Derecognition refers to the

257、 removal of a previously recognised financial asset or financial liability from the statement of financial position.Derecognition of financial liabilities A liability is derecognised when it is extinguished(i.e.when the obligation in the contract is discharged,cancelled or expires).An exchange of an

258、 existing financial liability for a new one with substantially modified terms,or a substantial modification to the terms of a financial liability is treated as an extinguishment of the existing liability and recognition of a new financial liability.The difference between the carrying amount of the f

259、inancial liability derecognised and the consideration paid and payable,including any non-cash assets transferred or liabilities assumed,is recognised in profit or loss.Derecognition of financial assets A financial asset is derecognised when the holders contractual rights to its cash flows expires,or

260、 the asset is transferred in such a way that all the risks and rewards of ownership are substantially transferred.All the following criteria need to be satisfied for derecognition of a financial asset:the right to receive cash flows from the asset has been expired or been transferred;all risk and re

261、wards of ownership of the asset have been substantially transferred;and the entity no longer controls the asset(i.e.,it has no practical ability to make unilateral decisions to sell the asset to a third party).On derecognition of a financial asset measured at amortised cost,the difference between th

262、e assets carrying amount and the sum of the consideration received and receivable is recognised in profit or loss.On derecognition of a debt instrument classified as at fair value through other comprehensive income,the cumulative gain or loss previously accumulated in the investment revaluation rese

263、rve is reclassified to profit or loss.On derecognition of an investment in equity which was elected to be classified under fair value through other comprehensive income,the cumulative gain or loss previously accumulated in the investments revaluation reserve is not reclassified to profit or loss but

264、 is transferred to retained earnings.Impairment of financial assets An impairment loss is recognised for the expected credit losses on financial assets when there is an increased probability that the counterparty will be unable to settle an instruments contractual cash flows on the contractual due d

265、ates,a reduction in the amounts expected to be recovered,or both.The probability of default and expected amounts recoverable are assessed using reasonable and supportable past and forward-looking information that is available without undue cost or effort.The expected credit loss is a probability-wei

266、ghted amount determined from a range of outcomes and takes into account the time value of money.Aruma Resources Limited Annual Report 2024 48 Notes to the consolidated financial statements For the year ended 30 June 2024 2.Material accounting policy information(continued)Financial instruments(contin

267、ued)Impairment of financial assets For trade receivables,material expected credit losses are measured by applying an expected loss rate to the gross carrying amount.The expected loss rate comprises the risk of a default occurring and the expected cash flows on default based on the aging of the recei

268、vable.The risk of a default occurring always takes into consideration all possible default events over the expected life of those receivables(“the lifetime expected credit losses”).Different provision rates and periods are used based on groupings of historic credit loss experience by product type,cu

269、stomer type and location.For intercompany loans that are repayable on demand,expected credit losses are based on the assumption that repayment of the loan is demanded at the reporting date.If the subsidiary does not have sufficient accessible highly liquid assets in order to repay the loan if demand

270、ed at the reporting date,an expected credit loss is calculated.This is calculated based on the expected cash flows arising from the subsidiary and weighted for probability likelihood variations in cash flows.Share-based payment transactions (i)Equity settled transactions:The Group provides benefits

271、to directors and executives of the Group and to sponsoring brokers in the form of share-based payments,whereby directors,executives and brokers render services in exchange for shares or rights over shares(equity-settled transactions).The cost of these equity-settled transactions is measured by refer

272、ence to the fair value of the equity instruments at the date at which they are granted.In valuing equity-settled transactions,no account is taken of any performance conditions,other than market conditions,if applicable.The cost of equity-settled transactions is recognised,together with a correspondi

273、ng increase in equity,over the period in which the performance and/or service conditions are fulfilled,ending on the date on which the relevant employees become fully entitled to the award(the vesting period).The cumulative expense recognised for equity-settled transactions at each balance date unti

274、l vesting date reflects(i)the extent to which the vesting period has expired and(ii)the Groups best estimate of the number of equity instruments that will ultimately vest.No adjustment is made for the likelihood of market performance conditions being met as the effect of these conditions is included

275、 in the determination of fair value at grant date.The statement of profit and loss and other comprehensive income charge or credit for a period represents the movement in cumulative expense recognised as at the beginning and end of that period.No expense is recognised for awards that do not ultimate

276、ly vest,except for awards where vesting is only conditional upon a market condition.If the terms of an equity-settled award are modified,as a minimum an expense is recognised as if the terms had not been modified.In addition,an expense is recognised for any modification that increases Aruma Resource

277、s Limited Annual Report 2024 49 Notes to the consolidated financial statements For the year ended 30 June 2024 2.Material accounting policy information(continued)Share-based payment transactions(continued)the total fair value of the share-based payment arrangement,or is otherwise beneficial to the e

278、mployee,as measured at the date of modification.If an equity-settled award is cancelled,it is treated as if it had vested on the date of cancellation,and any expense not yet recognised for the award is recognised immediately.However,if a new award is substituted for the cancelled award and designate

279、d as a replacement award on the date that it is granted,the cancelled and new award are treated as if they were a modification of the original award,as described in the previous paragraph.Trade and other payables Trade payables and other payables are carried at amortised cost and represent liabiliti

280、es for goods and services provided to the Group prior to the end of the period that are unpaid and arise when the Group becomes obliged to make future payments in respect of the purchase of these goods and services.Right of use assets A right-of-use asset is recognised at the commencement of a lease

281、.The right-of-use asset is measured at cost,which comprises the initial amount of the lease liability,adjusted for,as applicable,any lease payments made at,or before,the commencement date of any lease incentives received,any indirect costs incurred and except where included in the cost of inventorie

282、s,an estimate of costs expected to be incurred for dismantling and removing the underlying asset,and restoring the site or asset.Right-of-use assets are depreciated on a straight-line basis over the unexpired period of the lease or the estimated useful life of the asset,whichever is the shorter.Wher

283、e the consolidated entity expects to obtain ownership of the leased asset at the end of the lease term,the depreciation id over its estimated useful life.Right-of-use assets are subject to impairment or adjusted for any remeasurement of lease liabilities.The consolidated entity has elected not to re

284、cognise a right-of-use asset and corresponding lease liability for short term leases with terms of 12 months or less and leases of low value assets,Lease payments for these assets are expensed to profit and loss as incurred.Critical accounting estimates In the application of the Groups accounting po

285、licies which are described in note 1,the directors are required to make judgements,estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources.The estimates and associated assumptions are based on historical experience and other fac

286、tors that are considered to be relevant.Actual results may differ from these estimates.The estimates and underlying assumptions are reviewed on an ongoing basis.Revisions to accounting estimates are reviewed on an ongoing basis.Revisions to accounting estimates are recognised in the period in which

287、the estimate is revised if the revision affects only that period,or in the period of the revision and future periods if the revision affects both current and future periods.Aruma Resources Limited Annual Report 2024 50 Notes to the consolidated financial statements For the year ended 30 June 2024 2.

288、Material accounting policy information(continued)Critical accounting estimates Share-based payment transaction:The Group measures the cost of equity-settled transactions by reference to the fair value of the equity instruments at the date at which they are granted.The fair value is determined using

289、an appropriate valuation model,using the assumptions detailed in note 23.Mine closure and rehabilitation obligations Provision is made for the anticipated costs of future closure and rehabilitation of mining areas.These future cost estimates are discounted to their present value.The calculation of t

290、hese provision estimates requires assumptions such as application of environmental legislation,plant closure dates,available technologies,engineering cost estimates and discount rates.A change in any of the assumptions used may have a material impact on the carrying value of mine closure and rehabil

291、itation obligations.Exploration and evaluation costs carried forward The recoverability of the carrying amount of exploration and evaluation costs carried forward has been reviewed by the directors.In conducting the review,the directors have elected for the acquisition of licence costs to be capital

292、ised.All other exploration and evaluation costs are expensed during the period in which they are incurred.Recovery of deferred tax assets Significant management judgement has been effected to determine that no deferred tax assets be recognised.Business combinations Acquisitions of businesses are acc

293、ounted for using the acquisition method.The consideration transferred in a business combination is measured at fair value which is calculated as the sum of the acquisition date fair values of assets transferred by the Group,liabilities incurred by the Group to former owners of the acquiree and the e

294、quity interest issued by the Group in exchange for control of the Acquiree.Acquisition related costs are recognised in profit or loss as incurred.At the acquisition date,the identifiable assets acquired,and the liabilities assumed are recognised at their fair value at the acquisition date,except tha

295、t:deferred tax assets or liabilities and assets or liabilities related to employee benefit arrangements are recognised and measured in accordance with AASB 12 and AASB 19 respectively;liabilities or equity instruments related to share-based payment arrangements of the acquiree,or share-based payment

296、s of the Group entered into to replace share-based payments of the acquiree are measured in accordance with AASB 2 at the acquisition date(see below):and assets(or disposal groups)that are classified as held for sale in accordance with AASB 5 are measured in accordance with that Standard.Aruma Resou

297、rces Limited Annual Report 2024 51 Notes to the consolidated financial statements For the year ended 30 June 2024 2.Material accounting policy information(continued)Critical accounting estimates Goodwill is measured as the excess of the sum of the consideration transferred,the amount of any non-cont

298、rolling interests in the acquiree and the fair value of the acquirers previously held equity interest in the acquiree(if any)over the net of the acquisition-date amounts of the identifiable assets acquired and liabilities assumed.If,after reassessment,the net of the acquisition date amounts of the i

299、dentifiable assets acquired and liabilities assumed exceeds the sum of the consideration transferred,the amount of a non-controlling interest in the acquiree and the fair value of the acquirers previously held interest in the acquiree(if any),the excess is recognised immediately in profit or loss as

300、 a bargain purchase gain.3.REVENUE 4.LOSS BEFORE INCOME TAX CONSOLIDATED 2024$CONSOLIDATED 2023$Loss before income tax Loss before income tax expense has been arrived at after charging the following item:Depreciation 35,340 30,568 5.FINANCING INCOME CONSOLIDATED 2024$CONSOLIDATED 2023$Financing Inco

301、me Interest income 113,128 77,992 Interest expense(2,192)(3,301)Total 74,691 861 CONSOLIDATED 2024$CONSOLIDATED 2023$Other income R&D tax incentive 1,146,363 837,176 Total 1,146,363 837,176 Aruma Resources Limited Annual Report 2024 52 Notes to the consolidated financial statements For the year ende

302、d 30 June 2024 6.AUDITORS REMUNERATION CONSOLIDATED 2024$CONSOLIDATED 2023$During the year the following fees were paid or payable for services provided by auditors of the Group,Elderton Audit Pty Ltd,their related practices and non-related audit firms Audit and review services:-Auditors of the Grou

303、p 22,900 22,200 Other Professional services:-Tax services-7.LOSS PER SHARE As the Group incurred a loss for the year the options on issue have an anti-dilutive effect therefore the diluted loss per share is fixed at the value of the basic loss per share.CONSOLIDATED 2024 CONSOLIDATED 2023 Loss per s

304、hare Basic loss per share 0.57 cents 1.92 cents a)Weighted average number of shares used in calculation of basic loss per share 196,426,083 158,896,643 b)Loss used in calculating basic loss per share$1,125,944$3,045,244 Aruma Resources Limited Annual Report 2024 53 Notes to the consolidated financia

305、l statements For the year ended 30 June 2024 8.INCOME TAX EXPENSE CONSOLIDATED 2024$CONSOLIDATED 2023$a.Recognised in the statement of profit or loss and other comprehensive income The major components of the tax expense/(income)are:Current tax expense-Deferred tax income relating to the origination

306、 and reversal of temporary timing differences-Total tax income attributable to continuing operations-b.Amounts charged or credited directly to equity Deferred income tax related to items(credited)directly to equity-Income tax expense/(benefit)reported in equity-The prima facie income tax expense/(be

307、nefit)on pre-tax accounting result from operations reconciles to the income tax expense in the financial statements as follows:c.Numerical reconciliation between aggregate income tax expense recognised in the statement of profit or loss and other comprehensive income and tax expense calculated per t

308、he statutory income tax rate Loss before income tax expense from operations(1,125,944)(3,045,244)Income tax expense calculated at 25.00%(2023:25.00%)(281,486)(761,311)Impact from reduction in tax rate-Over provision of tax in prior year 667,395 823,171 Non-assessable income(286,591)(209,294)Temporar

309、y differences not recognised(58,865)(87,641)Non-deductible expenses 26,011 1,692 Share issue costs recognised directly in equity(51,779)(46,447)Tax losses not recognised/(utilised)(14,685)279,830 Income tax expense/(benefit)-Aruma Resources Limited Annual Report 2024 54 Notes to the consolidated fin

310、ancial statements For the year ended 30 June 2024 8.INCOME TAX EXPENSE The tax rate used in the following reconciliation is the corporate tax rate of 25.00%(2023:25.00%)payable by Australian corporate entities on taxable profits under Australian tax law.CONSOLIDATED 2024$CONSOLIDATED 2023$d.The foll

311、owing deferred tax assets and(liabilities)have not been brought to account as assets:Tax losses-revenue 2,926,329 2,992,794 Temporary differences 138,681 130,575 3,065,010 3,123,369 e.Deferred tax assets not recognised in respect of the following items:Trade and other receivables(4,219)(8,371)Trade

312、and other payables 31,998 31,440 Section 40-880 expenses 110,902 107,506 Tax losses carried forward 2,926,329 2,992,794 Income tax expense/(benefit)not recognised 3,065,010 3,123,369 f.Carry forward tax losses:Unused tax losses,for which no deferred tax asset has been recognised(as recovery is curre

313、ntly not probable)11,705,317 11,971,176 At 25.00%(2023:25.00%)2,926,329 2,992,794 The deferred tax assets have not been brought into account at balance date as the realisation of these is not probable.This benefit(which has been calculated as 25.00%(2023:25.00%)of losses and deductions available)wil

314、l only be obtained if:i)the Company derives future assessable income of a nature and of an amount sufficient to enable the benefit from the deductions for the losses to be realised;ii)the Company continues to comply with the conditions for deductibility imposed by the tax legislation;and iii)no chan

315、ges in tax legislation adversely affect the Company in realising the benefit from the deduction for the losses.Aruma Resources Limited Annual Report 2024 55 Notes to the consolidated financial statements For the year ended 30 June 2024 9.FINANCIAL INSTRUMENTS Overview The Group has exposure to the f

316、ollowing risks from their use of financial instruments:Credit risk Liquidity risk Market risk This note presents information about the Groups exposure to each of the above risks,their objectives,policies and processes for measuring and managing risk,and the management of capital.Further quantitative

317、 disclosures are included throughout this financial report.The Board of Directors has overall responsibility for the establishment and oversight of the risk management framework.Management monitors and manages the financial risks relating to the operations of the Group through regular reviews of the

318、 risks.Credit risk Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to meet its contractual obligations and arises principally from cash at bank.Cash The Group limits its exposure to credit risk by only investing in liquid securitie

319、s and only with counterparties that have an acceptable credit rating.Cash and cash equivalents are held with ANZ Bank which is an Australian bank with an AA credit rating(Standard&Poors).Trade and other receivables As the Group operates in the mining exploration sector it does not have trade receiva

320、bles and is therefore not exposed to credit risk in relation to trade receivables.Other receivables relate to interest accrued on cash held with banks and GST credits receivable from the Australian Taxation Office.Investments and other financial assets Investments and other financial assets are init

321、ially measured at fair value.Transaction costs are included as part of the initial measurement,except for financial assets at fair value through profit or loss.Such assets are subsequently measured at either amortised cost or fair value depending on their classification.Classification is determined

322、based on both the business model within which such assets are held and the contractual cash flow characteristics of the financial asset unless an accounting mismatch is being avoided.Aruma Resources Limited Annual Report 2024 56 Notes to the consolidated financial statements For the year ended 30 Ju

323、ne 2024 9.FINANCIAL INSTRUMENTS(CONTINUED)Financial assets are derecognised when the rights to receive cash flows have expired or have been transferred and the consolidated entity has transferred substantially all the risks and rewards of ownership.When there is no reasonable expectation of recoveri

324、ng part or all of a financial asset,its carrying value is written off.Financial assets at fair value through profit or loss Financial assets not measured at amortised cost or at fair value through other comprehensive income are classified as financial assets at fair value through profit or loss.Typi

325、cally,such financial assets will be either:(i)held for trading,where they are acquired for the purpose of selling in the short-term with an intention of making a profit,or a derivative;or(ii)designated as such upon initial recognition where permitted.Fair value movements are recognised in profit or

326、loss.Financial assets at fair value through other comprehensive income Financial assets at fair value through other comprehensive income include equity investments which the consolidated entity intends to hold for the foreseeable future and has irrevocably elected to classify them as such upon initi

327、al recognition.Exposure to credit risk The carrying amount of the Groups financial assets represents the maximum credit exposure.The Groups maximum exposure to credit risk at the reporting date was:Impairment losses None of the Groups trade and other receivables is past due.CARRYING AMOUNT NOTE CONS

328、OLIDATED 2024$CONSOLIDATED 2023$Cash and bank balances 10 2,143,785 3,154,923 Trade and other receivables 11-Term deposit investments 12 73,640 70,730 Other financial assets 13 18,000 33,000 Aruma Resources Limited Annual Report 2024 57 Notes to the consolidated financial statements For the year end

329、ed 30 June 2024 9.FINANCIAL INSTRUMENTS(CONTINUED)Liquidity risk Liquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due.The Groups approach to managing liquidity is to ensure,as far as possible,that it will always have sufficient liquidity to me

330、et its liabilities when due,under both normal and stressed conditions,without incurring unacceptable losses or risking damage to the Groups reputation.The Group manages liquidity risk by maintaining adequate reserves by continuously monitoring forecast and actual cash flows.Consolidated Carrying amo

331、unt($)Contractual cash flows($)6 months or less($)6 months or more($)30 June 2024 Trade and other payables 110,302(110,302)(110,302)-110,302(110,302)(110,302)-30 June 2023 Trade and other payables 113,945(113,945)(113,945)-113,945(113,945)(113,945)-Typically,the Group ensures it has sufficient cash

332、on demand to meet expected operational expenses for a minimum period of 90 days.Market risk Market risk is the risk that changes in market prices,such as foreign exchange rates,interest rates and equity prices will affect the Groups income or the value of its holdings of financial instruments.The ob

333、jective of market risk management is to manage and control market risk exposures within acceptable parameters,while optimising the return.Currency risk The Group is not exposed to any currency risk.All investments and purchases are denominated in Australian dollars.Interest rate risk The Group is exposed to interest rate risk due to variable interest being earned on its assets held in cash and cas