《Avira Resources Limited (AVW) 2024年年度報告「ASX」.pdf》由會員分享，可在線閱讀，更多相關《Avira Resources Limited (AVW) 2024年年度報告「ASX」.pdf（59頁珍藏版）》請在三個皮匠報告上搜索。
1、ANNUAL FINANCIAL REPORT 30 JUNE 2024 ACN 131 715 645 2 CORPORATE DIRECTORY 2024 DIRECTORS SHARE REGISTRY David Deloub Executive Director David Wheeler Non-Executive Chairman James Robinson Non-Executive Director Computershare Investor Services Pty Ltd GPO Box 52,Melbourne,Victoria 3001 Telephone:130
2、0 552 270(within Australia)+61 3 9415 4000(outside Australia)COMPANY SECRETARY BANKERS Rhys Waldon National Australia Bank REGISTERED OFFICE&PRINCIPAL PLACE OF BUSINESS SOLICITORS TO THE COMPANY Avira Resources Limited Level 3,88 William Street Perth,WA 6000 Telephone:+61 8 9463 2463 Facsimile:+61 8
3、 9463 2499 Web:.au Steinepries Paganin Level 14,QV1 Building,250 St Georges Terrace,Perth WA 6000 STOCK EXCHANGE LISTING INDEPENDENT AUDITORS Avira Resources Limited is listed on the Australian Securities Exchange(ASX)under the code AVW.HLB Mann Judd Level 4,130 Stirling Street Perth WA 6000 CORPORA
4、TE GOVERNANCE STATEMENT The Corporate Governance Statement for Avira Resources Limited can be found at the About Us,Corporate G.au/corporate-governance 3 CONTENTS CONTENTS ANNUAL REPORT 2024 DIRECTORS REPORT 4 AUDITORS INDEPENDENCE DECLARATION 26 CONSOLIDATED FINANCIAL STATEMENTS 27 CONSOLIDATED ENT
5、ITY DISCLOSURE STATEMENT 51 DIRECTORS DECLARATION 52 INDEPENDENT AUDITORS REPORT 53 ADDITIONAL STOCK EXCHANGE INFORMATION 57 DIRECTORS REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024 4 DIRECTORS REPORT Overview The principal activities of the consolidated entity during the financial year included m
6、ineral exploration,identification and evaluation activities associated with mineral exploration.Operational Activities During the financial year Avira made substantial progress towards satisfying the Stage 2 Earn-in requirement for the highly prospective Puolalaki Ni-Cu-Co Project in Sweden,which we
7、re subsequently completed in July 2024.This milestone marks a significant advancement in the strategic partnership and project development.With the successful completion of Stage 2,Avira will review the next phase of the project,continuing to work closely with our partners to achieve our mutual goal
8、s.We are confident that this progression will bring substantial benefits to all stakeholders involved.Project scale geophysical exploration programs(airborne and ground-based gravity and EM surveys)are currently contemplated in addition to re-processing of the current DHEM data produced from recent
9、exploration campaigns in preparation for the planning and execution of a larger-scale drilling program at Puolalaki.Whilst recent exploration activities by Avira have been predominantly focused on the base metal prospectivity of the project,Avira is currently reviewing the historic exploration resul
10、ts related to the gold potential of the project,largely driven by the high-grade gold that was intercepted at the bottom of PUO23005 in 2023 whilst targeting a deep EM conductor.In addition to the base metals mineralisation at Puolalaki,the project also contains significant,high-grade gold(Cu,W,Mo)m
11、ineralisation.The bulk of the historic exploration at Puolalaki was focused on the gold mineralisation that was first discovered by LKAB during the 1980s whilst exploring for metallurgical olivine within the Puolalaki gabbro.At least two zones of gold mineralisation have been delineated through diam
12、ond drilling(2.5mm).There is no Ni or Co contained within the chalcopyrite.Gangue mineralogy comprised feldspars,pyroxenes,olivine,Mg-silicates,quartz,calcite,and ilmenite.DIRECTORS REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024 9 Figure 5:SEM-EDS images of Ni-Cu-Co ore from Puolalaki.LHS:Ni and F
13、e contents from a massive sulphide sample from PUO23002.RHS:Mg and Ni contents from an olivine-rich cumulate rock displaying disseminated sulphide mineralisation from PNO98016.Ni:Nickel,Fe:Iron,Mg:Magnesium,Pn:Pentlandite,Pyh:Pyrrhotite,Ol:Olivine.DHEM Drillholes PUO23006 and PUO23010 were surveyed
14、with DHEM at the conclusion of the diamond drilling.No significant off-hole conductors were identified in drillhole PUO23006 and a single offhole conductor was identified at a depth of ca.250m in PUO23010.The strong off-hole conductor(50,000SI)is coincident with a narrow zone(50cm)of semi-massive su
15、lphide mineralisation within a broader zone(ca.83m)of disseminated sulphide(pyrrhotite chalcopyrite)mineralisation(assays pending)and remains to be followed-up.Project scale geophysical exploration programs(airborne and ground based gravity and EM surveys)are currently contemplated in addition to re
16、-processing of the current DHEM data produced from recent exploration campaigns in preparation for the planning and execution of a larger-scale drilling program at Puolalaki.Whilst recent exploration activities by AVQ have been predominantly focussed on the base metal prospectivity of the project,th
17、e Company is currently reviewing the historic exploration results related to the gold potential of the project,largely driven by the high-grade gold that was intercepted at the bottom of PUO23005 in 2023 whilst targeting a deep EM conductor.Figure 6:Map showing the location of the Avira diamond dril
18、lholes with significant intercepts and historic gold mineralisation.DIRECTORS REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024 10 In addition to the base metals mineralisation at Puolalaki,the project also contains significant,high-grade gold(Cu,W,Mo)mineralisation.The bulk of the historic explorati
19、on at Puolalaki was focussed on the gold mineralisation that was first discovered by LKAB during the 1980s whilst exploring for metallurgical olivine within the Puolalaki gabbro.At least two zones of gold mineralisation have been delineated through diamond drilling(50 drillholes)at Puolalaki where t
20、he gold is hosted in gneissic metasedimentary and metavolcanic rocks intruded by granodiorite to tonalite bodies;a sequence of host rocks not dissimilar to the Aitik deposit.Scheelite,chalcopyrite and molybdenite often accompany the gold-arsenic mineralisation and visible gold(0.8mm)has been observe
21、d.The gold mineralisation is currently open at depth and along strike.Better gold intercepts from the early LKAB drilling include:PUO28:2.29m 3.15g/t Au PUO27:4m 2.14g/t Au PUO26:2.75m 14.16g/t Au PUO24:2.65m 8.65g/t Au PUO23:2.1m 3.94g/t Au In 1998,NAN drillhole PNO98003 intercepted:7.9m 3.9g/t Au
22、In 2023,AVW completed drillhole PUO23005 which was drilled to 592.4m and was targeting a deep FLEM conductor.The drillhole intercepted low-grade nickel-copper mineralisation within a gabbro host rock in the upper part of the drillhole but also intersected several zones of significant gold mineralisa
23、tion within a broader halo of lower-grade gold mineralisation hosted within a tonalite;significant intercepts included:2.53m 5.83g/t Au from 438.77m,Inc.1.23m 9.78g/t Au from 438.77m 9.57m 3.82g/t Au from 494.63m 4.50m 3.04g/t Au from 513m 1.35m 6.82g/t Au from 527.85 The gold mineralisation located
24、 within drillhole PUO23005 is located ca.500m along strike to the north of the shallow historic gold mineralisation identified by LKAB along the same shear structure.DIRECTORS REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024 11 Figure 7.Drillhole cross-section for drillhole PUO23005 showing both nic
25、kel and gold mineralisation.Several bottom-of-till(BOT)and C-horizon soil sampling anomalies(gold)remain untested by drilling and provide significant upside potential for the gold mineralisation.The south western gold geochemical anomaly is robust over an area of 800m x 250m with a peak assay of 346
26、ppb Au whereas the southeastern anomaly is less robust with a peak assay of 59.8ppb Au.EUROPES UNPRECEDENTED NEED FOR BATTERY METALS In late 2022,Europe surpassed China as the fastest growing electric vehicle manufacturing market in the world2 and Benchmark Mineral Intelligence forecasts3 Europes ba
27、ttery cell demand to be 958 GWh by 2031.In a bid to secure the EUs future supply of critical raw materials which includes nickel,copper and cobalt,the European Commission in March 2023,passed a Critical Raw Materials Act.Importantly,under the legislation,EU member states are expected to develop nati
28、onal programs for exploring their geological resources.Projects deemed as“strategic”will benefit from access to financing opportunities as well as a shorter wait for permits;two years for mining projects and one year for processing and recycling.Sweden is leading the transition to a decarbonised fut
29、ure where according to Swedish Prime Minister Ulf Kristersson“a green industrial shift of historical magnitude is currently taking place”4.In a number of northern Swedish cities,major investments are being made in the production of fossil-free steel,extraction of minerals,logistics,energy,and batter
30、ies.2 https:/ 3 https:/ 4 https:/ DIRECTORS REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024 12 Swedish company Northvolt for example,has opened its first gigafactory in the city of Skellefte,located approximately 240km south of the Puolalaki Project,with a current annual cell production capacity of
31、 32GWh,increasing to 150GWh by 2030.Avira and the Puolalaki Project are well located to capitalise on the strong European demand for ethically sourced critical raw materials including cobalt,nickel and copper.Figure 8.Major mining and industrial projects located in Norrland,Sweden.(As at May 2023)DI
32、RECTORS REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024 13 PATERSON RANGE PROJECT,WA Following the end of the financial year Avira surrendered its two tenement packages Mount Macpherson E45/5572 and Throssel Range E45/5567 located within the Paterson Range province of Western Australia.With the Com
33、panys focus and resources aimed squarely on the Puolalaki Project in Sweden and new exploration opportunities these particular assets were considered non-core with the surrender resulting in both time and cost savings.MERU COPPER GOLD PROJECT,KENYA On 24 April 2024 Avira announced it had entered int
34、o an Earn-In Agreement(EIA)with Goitom Mining Limited(Goitom)to earn up to an 80%interest in the Meru Copper-Gold Project(Meru)located in central Kenya.Following the execution of the EIA,the Company and its in-country representatives commenced commercial and technical due diligence on the project.Fo
35、llowing due diligence operations,the Company has decided not to proceed with the proposed earn-in to the Meru copper project.While disappointed with the outcome of the Meru project due diligence,this process has resulted in the Companys representatives identifying further potential project opportuni
36、ties within Kenya across gold and base metals.This evaluation process remains on-going and the Company will keep shareholders updated with any developments in this regard.DIRECTORS REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024 14 ANNUAL GENERAL MEETING The Company held its AGM on 24 November 2023
37、 with all resolutions being passed.Forward looking statements This announcement contains forward-looking statements which are identified by words such as may,could,believes,estimates,targets,expects,or intends and other similar words that involve risks and uncertainties.These statements are based on
38、 an assessment of present economic and operating conditions,and on a number of assumptions regarding future events and actions that,as at the date of this announcement,are expected to take place.Such forward-looking statements are not guarantees of future performance and involve known and unknown ri
39、sks,uncertainties,assumptions and other important factors,many of which are beyond the control of the Company,the directors and our management.We cannot and do not give any assurance that the results,performance or achievements expressed or implied by the forward-looking statements contained in this
40、 annual report will occur and investors are cautioned not to place undue reliance on these forward-looking statements.We have no intention to update or revise forward-looking statements,or to publish prospective financial information in the future,regardless of whether new information,future events
41、or any other factors affect the information contained in this announcement,except where required by law.These forward looking statements are subject to various risk factors that could cause our actual results to differ materially from the results expressed or anticipated in these statements.Competen
42、t Persons Statement The information in this document that relates to exploration results is based on information compiled by Amanda Scott,a Competent Person who is a Fellow of the Australian Institute of Mining and Metallurgy(Membership No.990895).Amanda Scott is a full-time employee of Scott Geolog
43、ical AB.Amanda Scott has sufficient experience,which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which has been undertaken to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploratio
44、n Results,Mineral Resources and Ore Reserves(JORC Code).Amanda Scott consents to the inclusion in the report of the matters based on her information in the form and context in which it appears.ASX Listing Rules Compliance In preparing the Annual Report for the period ended 30 June 2024 and to date,t
45、he Company has relied on the following ASX announcements.Date Announcement 27/06/2024 Change of Directors Interest Notice-DW 26/06/2024 Cleansing Notice 26/06/2024 Notification regarding unquoted securities-AVW 26/06/2024 Application for quotation of securities-AVW 21/06/2024 Results of Meeting 22/0
46、5/2024 Notice of Extraordinary General Meeting/Proxy Form 22/05/2024 Addendum-Quarterly Activities Report 8/05/2024 Cleansing Notice 8/05/2024 Application For Quotation Of Securities-AVW 30/04/2024 Quarterly Activities Report and Appendix 5B 29/04/2024 Proposed issue of securities-AVW 29/04/2024 Ove
47、rsubscribed Capital Raise 24/04/2024 Proposed issue of securities-AVW 24/04/2024 Trading Halt 24/04/2024 Meru Copper Gold EIA-10.32%Cu and 4.68g/t Au 20/03/2024 Assay Update From Puolalaki Ni-Cu-Co Project 13/03/2024 Half year accounts 12/02/2024 Results Confirm Significant Zone Of Ni-Cu Mineralisat
48、ion 25/01/2024 Quarterly Activities Report and Appendix 5B 9/01/2024 Puolalaki Phase 2 Diamond Drilling Update 8/12/2023 Diamond Drilling Commences At Puolalaki 24/11/2023 Results of AGM 24/11/2023 Phase 2 Diamond Drilling To Commence At Puolalaki 26/10/2023 Quarterly Activities Report and Appendix
49、5B 24/10/2023 Notice of Annual General Meeting/Proxy Form 6/10/2023 Date of AGM and Closing Date for Director Nominations 3/10/2023 Skytem Airborne Em Survey Identifies 14 Anomalies 28/09/2023 Appendix 4G and Corporate Governance Statement 28/09/2023 AVW-Annual Report 30 June 2023 18/09/2023 AVW Cha
50、nge of Address DIRECTORS REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024 15 18/09/2023 Change of Registry Address Notification 29/08/2023 Final Assay Results Reveal Gold&Nickel Mineralisation 26/07/2023 Quarterly Activities Report and Appendix 5B 3/07/2023 Skytem Airborne Em Survey To Commence At P
51、uolalaki Compliance Statement This report contains information extracted from reports cited herein.These are available to view on the website.In relying on the above Financial Report,the Company confirms that it is not aware of any new information or data that materially affects the information incl
52、uded in the abovementioned announcements or this Annual Report for the period ended 30 June 2024 and to date.The directors of Avira Resources Limited submit herewith the annual financial report of the company for the financial year ended 30 June 2024.In order to comply with the provisions of the Cor
53、porations Act 2001,the directors report as follows:DIRECTORS The directors of Avira Resources Limited and its controlled entities(the“Group”)in office at any time during or since the end of the financial year are set out below.Directors were in office for this entire period unless otherwise stated.N
54、ame Particulars David Wheeler Non-Executive Chairman,appointed on 13 September 2018 David Ross Deloub Executive Director,appointed on 30 November 2017 James Robinson Non-Executive Director appointed on 17 March 2023 PRINCIPAL ACTIVITIES The principal activities of the company and its consolidated en
55、tities during the financial year included exploration and evaluation activities.There were no significant changes in the nature of the principal activities during the year.DIVIDENDS There were no dividends paid or declared by the consolidated entity during the financial year.REVIEW OF OPERATIONS Ple
56、ase refer to Operations Report located on the previous pages.OPERATING RESULTS FOR THE YEAR The net loss of the consolidated entity for the financial year after income tax was$712,316(2023:loss of$1,288,543).REVIEW OF FINANCIAL CONDITIONS As at 30 June 2024,the Group had$502,580 in cash assets.SIGNI
57、FICANT CHANGES IN STATE OF AFFAIRS In the opinion of the Directors,there were no other significant changes in the state of affairs of the Group that occurred during the financial year under review not otherwise disclosed in this report or in the financial statements.EVENTS SUBSEQUENT TO THE END OF T
58、HE FINANCIAL YEAR In July 2024,Avira successfully completed the Stage 2 Earn-in requirement for the highly prospective Puolalaki Ni-Cu-Co Project in Sweden as per the terms of the Earn-in Agreement.This milestone marks a significant advancement in our strategic partnership and project development.DI
59、RECTORS REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024 16 KEY TERMS OF THE EARN-IN AGREEMENT AVW to issue Exclusivity Shares(fully paid ordinary shares)to the value of$60,000 to the Owners upon the execution of the Agreement(Completed)Staged Earn-In Agreement:Initial Earn-In:AVW to spend not less
60、than$250,000 to earn a 20%interest in the project.(Completed)Stage 2 Interest:AVW to spend not less than$650,000 to earn an additional 31%interest in the project.(Completed)Stage 3 Interest:AVW to spend not less than$1.5 million to earn an additional 29%interest in the project.(Under Review)Once AVW
61、 has satisfied the Stage 3 condition,AVW and the Owners will form an incorporated joint venture whereby AVW owns 80%interest in the project and the Owners 20%.Each party will contribute to their share of joint venture expenditure pro-rata in accordance with their respective joint venture interest or
62、 be diluted.Subject to AVW having satisfied the Stage 3 condition,the Owner grants AVW an option to acquire an additional 10%joint venture interest from the Owner by paying the Owner a cash payment of$1.25 million.If the Owners joint venture interest falls below 10%,the Owner may either contribute t
63、o ongoing work in accordance with the joint venture,pro-rata to their joint venture interest,or elect to convert its 10%joint venture interest into a 1.5%net smelter return royalty(NSR)thereby bringing the joint venture to an end.As set out previously in this report,following the end of the financia
64、l year Avira surrendered its two tenement packages Mount Macpherson E45/5572 and Throssel Range E45/5567 located within the Paterson Range province of Western Australia.Other than the above,there has not been any other matter or circumstance occurring subsequent to the end of the financial period th
65、at has significantly affected,or may significantly affect,the operations of the consolidated entity,the results of those operations,or the state of affairs of the Group in future financial years.Operational and Financial Risk Title Risk Interests in tenements in Australia and Sweden are governed by
66、the relevant State and provincial legislation and are evidenced by the granting of licences or leases.Each licence or lease is for a specific term and has annual expenditure and reporting commitments,together with other conditions requiring compliance.Consequently,the Company could lose its title to
67、 or its interest in one or more of the tenements in which it has an interest if licence conditions are not met or if sufficient funds are not available to meet the minimum expenditure commitments.The Companys tenements,and other tenements in which the Company may acquire an interest,will be subject
68、to renewal,which is usually at the discretion of the relevant authority.If a tenement is not renewed the Company may lose the opportunity to discover mineralisation and develop that tenement.Exploration Risks The Companys mining tenements are at various stages of exploration.The Company has not yet
69、defined a JORC Code compliant resource on any of its projects,and in the event that one DIRECTORS REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024 17 is defined there is no guarantee that it can be commercially exploited.You should be aware that mineral exploration and development are high risk unde
70、rtakings due to the high level of inherent uncertainty.There can be no assurance that exploration of the Companys tenements,or of any other tenements that may be acquired by the Company in the future,will result in the discovery of economic mineralisation.Even if economic mineralisation is discovere
71、d there is no guarantee that it can be commercially exploited.The future exploration activities of the Company may be affected by a range of factors including geological conditions,limitations on activities due to seasonal weather patterns,unanticipated operational and technical difficulties,industr
72、ial and environmental accidents,native title process,changing government regulations and many other factors beyond the control of the Company.The success of the Company will also depend on the Company having access to sufficient development capital,being able to maintain title to its projects and ob
73、taining all required approvals for its activities.In the event that exploration programs prove to be unsuccessful this could lead to a diminution in the value of the Companys projects,a reduction in the cash reserves of the Company and possible relinquishment of part or all of the Companys projects.
74、DIRECTORS REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024 18 Access Risk-Native Title,First Nations and Aboriginal Heritage The Company must comply with First Nations legislation requirements and access agreements which require heritage survey work to be undertaken ahead of the commencement of mini
75、ng operations.Under Swedish and Commonwealth legislation the Company may need to obtain the consent of the holders of such interests before commencing activities on affected areas of the tenements.These consents may be delayed or given on conditions which are not satisfactory to the Company.Reliance
76、 on Key Personnel The responsibility of overseeing the day-to-day operations of the Company depends on its management and its key personnel.The Company is aware of the need to have sufficient management to properly supervise the exploration and,if exploration is successful,the development of the Com
77、panys projects.As the Companys projects and prospects progress and develop the Board will continually monitor the management requirements of the Company and look to employ or engage additional personnel when and where appropriate to ensure proper management of the Companys projects.However,there is
78、a risk that the Company may not be able to secure personnel with the relevant experience at the appropriate time which may impact on the Companys ability to complete all of its planned exploration programs within the expected timetable.Furthermore,you should be aware that no assurance can be given t
79、hat there will be no adverse effect on the Company if one or more of its existing Directors or management personnel cease their employment or engagement with the Company.Exploration Costs The exploration costs of the Company are based on certain assumptions with respect to the method and timing of e
80、xploration.By their nature these estimates and assumptions are subject to significant uncertainties and,accordingly,the actual costs may materially differ from these estimates and assumptions.Accordingly,no assurance can be given that the cost estimates and the underlying assumptions will be realise
81、d in practice,which may materially and adversely affect the Companys operating and financial performance and the value of the New Options.Contractual and Joint Venture Risk The Directors are not able to presently assess the risk of financial failure or default by a participant in any joint venture t
82、o which the Company is,or may become a party,or the insolvency or other failure by any of the contractors engaged by the Company for any exploration or other activity.Any such failure or default could adversely affect the operations and performance of the Company and the value of the New Options and
83、 Shares LIKELY FUTURE DEVELOPMENTS Disclosure of information regarding the likely developments in the operations of the consolidated entity in future financial years and the expected results of those operations are focused on the consolidated entity.Accordingly,this contemplates information regardin
84、g exploration work programs to be undertaken through a staged process pursuant to exploration results derived.For the near term,the review of operations contains forthcoming exploration work program details.ENVIRONMENTAL REGULATIONS The operations and proposed activities of the consolidated entity a
85、re subject to laws and regulations concerning the environment.As with most exploration projects and mining operations,the consolidated entitys activities are expected to have an impact on the environment.It is the consolidated entitys intention to conduct its activities to the required standard of e
86、nvironmental obligation,including compliance with all applicable environmental DIRECTORS REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024 19 laws.Mining operations may have previously been conducted on some of the Companys project areas and old workings including tailings dumps may remain from these
87、 operations.There may be a liability to rehabilitate these areas,details in relation to the abandonment and restoration obligation are included in Note 1(j)of the Notes to the financial statements.INDEMNIFICATION OF OFFICERS AND AUDITORS The Company has insured all the Directors of Avira Resources L
88、imited and its controlled entities against liabilities incurred while performing duties as Directors or Officers to the extent permitted by the Corporations Act 2001.The contract of insurance prohibits the disclosure of the nature of the liabilities covered and amount the amount of the premium paid.
89、The consolidated entity has not indemnified its auditor.INFORMATION ON DIRECTORS AND SENIOR MANAGEMENT:Mr David Wheeler Non-Executive Chairman Mr Wheeler has more than 30 years of Executive Management,Directorship,and Corporate Advisory experience.He is a foundation Director and Partner of Pathways
90、Corporate a boutique Corporate Advisory firm that undertakes assignments on behalf of family offices,private clients,and ASX listed companies.David has successfully engaged in business projects in the USA,UK,Europe,NZ,China,Malaysia,Singapore and the Middle East.Mr Wheeler is a Fellow of the Austral
91、ian Institute of Company Directors.Mr Wheeler also acts as a director of Earths Energy Limited(ASX:EE1)(formally Cradle Resources Ltd(ASX:CXX),Cycliq Group Ltd(ASX:CYQ),MOAB Minerals Limited(ASX:MOM)(formally Delecta Limited(ASX:DLC),OZZ Resources Ltd(ASX:OZZ),Protean Energy Ltd(ASX:POW),PVW Resourc
92、es Limited(ASX:PVW),Ragnar Metals Limited(ASX:RAG)and Tyranna Res Ltd(ASX:TYX).He is a former director of Athena Resources Limited(ASX:AHN),Blaze Minerals Limited(ASX:BLZ),Eneabba Gas Ltd(ASX:ENB),Health House International(ASX:HHI),Ultracharge Ltd(ASX:UTR),and Syntonic Limited(ASX:SYT)and Wellfully
93、 Ltd(ASX:WFL).Mr David Deloub Executive Director Mr Deloub has over 30 years of experience in the finance and corporate sectors and holds a degree in economics and postgraduate qualifications in banking and finance.Mr Deloub was a director of Patersons Capital Partners,a boutique advisory firm focus
94、ing on strategic and financial advice to ASX listed small cap companies.He has considerable corporate finance,business development,management and operational experience in Australia,the United States and Africa.Mr Deloub also acts as a director of Stonehorse Energy Limited(ASX:SHE)and Non-Executive
95、Chairman of Holista Colltech Limited(ASX:HCT).Mr James Robinson-Non-Executive Director Mr Robinson holds a Bachelor of Economics from the University of Western Australia and has extensive capital markets and advisory experience developed during over 20 years with some of Australias leading funds man
96、agement,corporate advisory and stockbroking firms.He has previously served as a director of multiple ASX listed companies and currently serves as Managing Director of Singapore based investment firm Cicero International.He has deeply established relationships with banking,private equity and family o
97、ffices which underpin both listed and private enterprises with which he is involved.Mr Rhys Waldon Company Secretary Mr Waldon holds a Bachelor of Commerce and Bachelor of Laws from the University of Western Australia and has experience as a lawyer having worked in private practice since 2005.He has
98、 assisted a diverse range of companies with corporate transactions,including capital DIRECTORS REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024 20 raisings,mergers and acquisitions,IPOs and backdoor listings,due diligence investigations and Corporations Act and ASX listing rules compliance.DIRECTORS
99、 MEETINGS The following table sets out the number of directors meetings held during the financial year and the number of meetings attended by each director(while they were a director).Directors Directors meeting eligible to attend Attended David Ross Deloub 4 4 David Wheeler 4 4 James Robinson 4 4 D
100、IRECTORS EQUITY HOLDINGS At the date of this report the following table sets out the current directors relevant interests in shares and options of Avira Resources Limited.Directors Ordinary Shares Current holding Options over Ordinary Shares Current holding David Ross Deloub-David Wheeler 10,000,000
101、 5,000,000 James Robinson 90,000,000 60,000,000 REMUNERATION OF KEY MANAGEMENT PERSONNEL Information about the remuneration of key management personnel is set out in the Remuneration Report on the pages below.The term key management personnel refers to those persons having authority and responsibili
102、ty for planning,directing,and controlling the activities of the Group,directly or indirectly,including any director(whether executive or otherwise)of the Company.REMUNERATION REPORT(AUDITED)PRINCIPLES USED TO DETERMINE THE NATURE AND AMOUNT OF REMUNERATION Due to the size of the Board,it has been de
103、emed that a Remuneration Committee is not required and the Board as a whole will perform the duties of a Remuneration Committee.The remuneration policy has been designed to align director and executive objectives with shareholder and business objectives by providing a fixed remuneration component wi
104、th the flexibility to offer specific long-term incentives based on key performance areas affecting the Companys financial results.The Board believes the remuneration policy to be appropriate and effective in its ability to attract and retain the best directors and executives to manage the Company.Th
105、e Boards policy for determining the nature and amount of remuneration for Key Management Personnel is as follows:The remuneration policy,setting the terms and conditions for the executive directors and other senior executives,was developed by the Board.All executives receive a base salary(which is b
106、ased on factors such as length of service and experience)and superannuation.The Board reviews executive packages annually and determines DIRECTORS REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024 21 policy recommendations by reference to executive performance and comparable information from industry
107、 sectors and other listed companies in similar industries.The Board may exercise discretion in relation to approving incentives,bonuses and options.The policy is designed to attract and retain the highest calibre of executives and reward them for performance that results in long-term growth in share
108、holder wealth.All remuneration paid to directors and executives is valued at the cost to the Company and expensed.Share-based payments are recorded at fair value in accordance with the requirements of AASB 2 Share-Based Payment.The Board policy is to remunerate non-executive directors at market rate
109、s for comparable companies for time,commitment and responsibilities.The Board determines payments to the non-executive directors and reviews the remuneration annually,based on market practice,duties and accountability.Independent external advice is sought when required.The maximum aggregate amount o
110、f fees that can be paid to non-executive directors is subject to approval by shareholders at the Annual General Meeting.Fees for non-executive directors are not linked to the performance of the Company.The remuneration policy has been tailored to increase the direct positive relationship between sha
111、reholders investment objectives and directors and executive performance.Currently,this is facilitated through the issue of options to the directors and executives to encourage the alignment of personal and shareholder interests.The Company believes this policy will be effective in increasing shareho
112、lder wealth.The Company currently has no performance based remuneration component built into director and executive remuneration packages.REMUNERATION OF DIRECTORS AND KEY MANAGEMENT PERSONNEL Information about the remuneration of directors and key management personnel is set out in the following ta
113、bles.Details of key management personnel The directors and other members of key management personnel of the Group during the year were:Name Particulars David Wheeler Non-Executive Chairman David Ross Deloub Executive Director James Robinson Non-Executive Director (a)Key management personnel compensa
114、tion 2024 Short-term employee benefits Post-employment benefit Cash salary and fees Superannuation Total$Directors David Deloub 125,916 13,851 139,767 David Wheeler 60,000-60,000 James Robinson 84,000-84,000 269,916 13,851 283,767 DIRECTORS REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024 22 2023 Sh
115、ort-term employee benefits Post-employment benefit Cash salary and fees Superannuation Total$Directors David Deloub 132,000 13,860 145,860 David Wheeler 60,000-60,000 James Robinson 24,500-24,500 Sonu Cheema 27,000-27,000 243,500 13,860 257,360 Executive contracts Remuneration arrangements for Key M
116、anagement Personnel are formalised in employment agreements or service contracts.The key terms of the executives agreements/contracts are:Name Contract duration Notice period from Company Notice period from the employee/contractor Executive Directors David Deloub Ongoing Service Agreement commencing
117、 15th Jan 2018 3 months 3 months (b)Share-based compensation There were no shares issued as part of compensation during the year ended 30 June 2024.No ordinary shares of Avira Resources Limited were issued during the year end 30 June 2024 on the exercise of options granted under the Avira Resources
118、Limiteds Employee Option Plan.No further shares have been issued since that date.(c)Other KMP transactions In the prior year,the Group entered into an agreement with Cicero Group Pty Ltd(an entity in which Sonu Cheema was shareholder and director)(Cicero)defining the terms of engagement for the prov
119、ision of administration services by Cicero as a contractor to the Group.Cicero provided book-keeping,company secretarial and administration services to the Company for a monthly fee of$11,000 plus GST.Inclusive of this amount is$3,000 plus GST of non-executive director fees for Sonu.Upon resignation
120、 as non-executive director,the services by Cicero continued for$11,000 plus GST due to increased scope of services and operational activities of the Company.The agreement also contemplated fees for additional services.The total dollar amount charged under the administrative agreement was$105,428 for
121、 the 2023 financial year.Sonu resigned as a director during the year-ended 30 June 2023.DIRECTORS REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024 23 (d)Key management personnel equity holdings Fully paid ordinary shares of Avira Resources Limited 2024 Balance Received Net other Balance at the at th
122、e during the change end of the year start of year on No.No.the year exercise of No.options No.Executive Directors David Ross Deloub-Non-Executive Directors David Wheeler(Indirect)-10,000,000 10,000,000 James Robinson(Direct)-James Robinson(Indirect)90,000,000-90,000,000 2023 Balance at the start of
123、the year No.Received during the year on exercise of options No.Net other change No.Balance at the end of the year No.Executive Directors David Ross Deloub-Non-Executive Directors David Wheeler(indirect)-James Robinson(Direct)-James Robinson(Indirect)-90,000,000 90,000,000 Sonu Cheema(Direct)5,000,00
124、0-(5,000,000)-Sonu Cheema(Indirect)-Options of Avira Resources Limited 2024 Balance at Received Net other Balance at the the start of during the change end of the year the year year on No.No.No.exercise of options No.Executive Directors David Ross Deloub(Direct)-Non-Executive Directors David Wheeler
125、(Direct)-David Wheeler(Indirect)-5,000,000 5,000,000 James Robinson(Direct)-James Robinson(Indirect)60,000,000-60,000,000 DIRECTORS REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024 24 2023 Balance at the start of the year No.Received during the year on exercise of options No.Net other change No.Bala
126、nce at the end of the year No.Executive Directors David Ross Deloub(Direct)-Non-Executive Directors David Wheeler(Direct)-David Wheeler(Indirect)-James Robinson(Direct)-James Robinson(Indirect)-60,000,000 60,000,000 Sonu Cheema(Direct)-Sonu Cheema(Indirect)999,923 999,923(1,999,846)1-1 999,923 optio
127、ns expired,999,923 held on resignation.End of Remuneration Report TRADING IN THE COMPANYS SECURITIES BY DIRECTORS,OFFICERS AND STAFF Upon listing on the ASX,the Board adopted a share trading policy which applies to all directors,officers and employees of Avira Resources Limited and its subsidiary co
128、mpanies.The policy was set up in order to avoid insider trading.The trading policy restricts employees,directors and officers from trading in AVW securities during certain prohibited periods.A full copy of the policy can be found at .au CORPORATE GOVERNANCE Avira Resources Limited and the Board of D
129、irectors are committed to achieving the highest standards of corporate governance.The Board continues to review the framework and practices to ensure they meet the interests of shareholders.The Company and its controlled entities together are referred to as the Group in this statement.A description
130、of the Groups main corporate governance practices is set out on the Companys website https:/.au/corporate-governance.All these practices,unless otherwise stated,were in place for the entire year and comply with the ASX Corporate Governance Principles and Recommendations.NON-AUDIT SERVICES No fees fo
131、r non-audit services were paid or are payable to the external auditor during the year ended 30 June 2024(2023:$Nil).PROCEEDINGS ON BEHALF OF THE COMPANY No person has applied for leave of Court to bring proceedings on behalf of the consolidated entity or intervene in any proceedings to which the con
132、solidated entity is a party for the purpose of taking responsibility on behalf of the consolidated entity for all or any part of these proceedings.The consolidated entity was not party to any such proceedings during the year.DIRECTORS REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024 25 AUDITORS INDE
133、PENDENCE DECLARATION The auditors independence declaration is included on page 26 of the financial report.This directors report has been made and signed in accordance with a resolution of the directors made pursuant to s.298(2)of the Corporations Act 2001.On behalf of the Directors David Deloub Exec
134、utive Director Dated:30 September 2024 26 AUDITORS INDEPENDENCE DECLARATION As lead auditor for the audit of the consolidated financial report of Avira Resources Limited for the year ended 30 June 2024,I declare that to the best of my knowledge and belief,there have been no contraventions of:a)the a
135、uditor independence requirements of the Corporations Act 2001 in relation to the audit;and b)any applicable code of professional conduct in relation to the audit.Perth,Western Australia 30 September 2024 D I Buckley Partner AVIRA RESOURCES LIMITED AND ITS CONTROLLED ENTITIES CONSOLIDATED STATEMENT O
136、F COMPREHENSIVE INCOME 27 FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024 Consolidated Consolidated 2024 2023 Note$Continuing operations Other revenue 3 35,639 17,767 Employee benefits expense (283,767)(229,038)Impairment on project receivable (75,774)-Impairment of deferred exploration and evaluation exp
137、enditure 7-(489,460)Fair value loss on financial assets (24,208)-Advisory and consulting fees -(95,100)Corporate services (120,000)(162,381)Administration expenses (173,510)(150,832)Other expenses 4(70,696)(179,499)Loss before tax (712,316)(1,288,543)Income tax expense/(benefit)5-Loss for the year (
138、712,316)(1,288,543)Other comprehensive income Items that may be subsequently reclassified to profit or loss when specific conditions are met:Exchange differences on translation 4,271(15,450)of foreign operations Total comprehensive loss for the year(708,045)(1,303,993)Loss for the year is attributab
139、le to:Owners of Avira Resources Limited(715,705)(1,288,543)Non-controlling interest 3,389-(712,316)(1,288,543)Total comprehensive loss for the year is attributable to:Owners of Avira Resources Limited(711,434)(1,303,993)Non-controlling interest 3,389-(708,045)(1,303,993)From continuing operations Ba
140、sic(cents per share)14(0.032)(0.061)Diluted(cents per share)14(0.032)(0.061)The above consolidated statement of comprehensive income should be read in conjunction with the accompanying notes AVIRA RESOURCES LIMITED AND ITS CONTROLLED ENTITIES CONSOLIDATED STATEMENT OF FINANCIAL POSITION 28 AS AT 30
141、JUNE 2024 Note Consolidated 2024$Consolidated 2023$Current assets Cash and cash equivalents 17(a)502,580 1,030,416 Financial assets 6 19,543 43,751 Other receivables 8 -149,188 Total current assets 522,123 1,223,355 Non-current assets Plant and Equipment 9 16,897 21,217 Exploration and evaluation ex
142、penditure 7 1,256,315 653,201 Total non-current assets 1,273,212 674,418 Total assets 1,795,335 1,897,773 Trade and other payables 10 3,992 151,440 Unsecured borrowings -3,645 3,992 155,085 Total current liabilities 3,992 155,085 Total liabilities 3,992 155,085 Net assets 1,791,343 1,742,688 Equity
143、Issued capital 11(a)34,946,946 34,190,246 Reserves 12 3,107,169 3,102,898 Accumulated losses 13 (35,094,481)(34,378,776)Equity attributable to owners of the parent 2,959,634 2,914,368 Non-controlling interest (1,168,291)(1,171,680)Total equity 1,791,343 1,742,688 The above consolidated statement of
144、financial position should be read in conjunction with the accompanying notes AVIRA RESOURCES LIMITED AND ITS CONTROLLED ENTITIES CONSOLIDATED STATEMENT OF CHANGES OF EQUITY FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024 29 Balance at 1 July 2023 34,190,246(34,378,776)3,102,898(1,171,680)1,742,688(Loss)/p
145、rofit for the period-(715,705)-3,389(712,316)Exchange differences on translations of foreign operations-4,271-4,271 Total comprehensive loss for the year-(715,705)4,271 3,389(708,045)Issuance for the year 756,700-756,700 Balance at 30 June 2024 34,946,946(35,094,481)3,107,169(1,168,291)1,791,343 Bal
146、ance at 1 July 2022 34,130,246(33,090,233)2,924,606(1,171,680)2,792,939(Loss)for the period-(1,288,543)-(1,288,543)Exchange differences on translations of foreign operations-(15,450)-(15,450)Total comprehensive loss for the year-(1,288,543)(15,450)-(1,303,993)Issuance for the year 60,000-193,742-253
147、,742 Balance at 30 June 2023 34,190,246(34,378,776)3,102,898(1,171,680)1,742,688 The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes.Issued Capital$Accumulated losses$Reserves$Non-controlling interest$Total$Issued Capital$Accumulated losses
148、$Reserves$Non-controlling interest$Total$AVIRA RESOURCES LIMITED AND ITS CONTROLLED ENTITIES CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024 30 Note Consolidated 2024$Consolidated 2023$Cash flows from operating activities Payments to suppliers and employees Other incom
149、e (631,652)6,980(848,573)17,767 Net cash used in operating activities 17(b)(624,672)(830,806)Cash flows from investing activities Payments for exploration and (655,592)(704,697)evaluation expenditure Net cash used in investing activities (655,592)(704,697)Cash flows from financing activities Proceed
150、s from equity securities to be issued(net of costs)756,699 193,742 Net cash provided by financing activities 756,699 193,742 Net(decrease)in cash and cash equivalents (523,565)(1,341,761)Effects of exchange rate changes on cash and cash equivalents (4,271)(15,450)Cash at the beginning of the financi
151、al year 1,030,416 2,387,627Cash at the end of the financial year 17(a)502,580 1,030,416 The above consolidated statement of cash flows should be read in conjunction with the accompanying notes.AVIRA RESOURCES LIMITED AND ITS CONTROLLED ENTITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30
152、 JUNE 2024 31 1.Summary of material accounting policies The principal accounting policies adopted in the preparation of the financial statements are set out below.The policies have been consistently applied to all years presented,unless otherwise stated.The accounting policies disclosed are those pe
153、rtaining to a for-profit entity.The financial report is a general-purpose consolidated financial report which has been prepared in accordance with the Corporations Act 2001,Accounting Standards and Interpretations,and complies with other requirements of the law.Accounting Standards include Australia
154、n equivalents to International Financial Reporting Standards(A-IFRS).Compliance with A-IFRS ensures that the financial statements and notes of the group comply with international financial reporting standards.These financial statements are for the consolidated entity consisting of Avira Resources Li
155、mited(the Company)and its subsidiaries(the Group).(a)Basis of preparation The financial report has been prepared on the basis of historical cost,except for the revaluation of certain non-current assets and financial instruments.Cost is based on the fair values of the consideration given in exchange
156、for assets.Historical cost is generally based on the fair values of the consideration given in exchange for goods and services.All amounts are presented in Australian dollars,unless otherwise noted.In addition,for financial reporting purposes,fair value measurements are categorised into Level 1,2 or
157、 3 based on the degree to which the inputs to the fair value measurements are observable and the significance of the inputs to the fair value measurement in its entirety,which are described as follows:Level 1 inputs are quoted prices(unadjusted)in active markets for identical assets or liabilities t
158、hat the entity can access at the measurement date;Level 2 inputs are inputs,other than quoted prices included within Level 1,that are observable for the asset or liability,either directly or indirectly;and Level 3 inputs are unobservable inputs for the asset or liability.Going concern The financial
159、report has been prepared on the going concern basis which contemplates continuity of normal business activities and realisation of assets and settlement of liabilities in the ordinary course of business.The Directors have reviewed the business outlook,cash flow forecasts and immediate capital requir
160、ements and are of the opinion that the use of the going concern basis of accounting is appropriate as the Directors believe the Group will be able to pay its debts as and when they fall due.The Directors continue to monitor the ongoing funding requirements of the Company and as stated,have the abili
161、ty to raise monies via a share placement in the near term as work programs progress.Avira has a track record of securing capital funding from the initiatives it has taken over the year and in periods.AVIRA RESOURCES LIMITED AND ITS CONTROLLED ENTITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR E
162、NDED 30 JUNE 2024 32 However,should the Company not be able to raise via share placement or other means there exists a material uncertainty that may cast significant doubt on the Groups ability to continue as a going concern.Critical accounting estimates and judgements The preparation of financial s
163、tatements in conformity with AIFRS requires the use of certain critical accounting estimates.It also requires management to exercise its judgment in the process of applying the Groups accounting policies.The areas involving a higher degree of judgment or complexity,or areas where assumptions and est
164、imates are significant to the financial statements,are:Share-based payment transactions The Group measures the cost of equity-settled transactions with employees,suppliers and those providing similar services by reference to the fair value of the equity instruments at the date at which they are gran
165、ted.For share-based payments other than to employees,the Group recognises fair value directly at the fair value of the goods or services received.Where this cannot be measured reliably,fair value is measured indirectly by reference to the fair value of the equity instruments granted.Impairment of ca
166、pitalised exploration expenditure The Group continues to monitor the capitalised exploration expenditure for indicators of impairment by comparing the assets carrying value to their estimated fair values.The fair values are determined by management using recognised valuation techniques,including the
167、 yield method,discounted cash flow method and market based values.The determination of the fair values require the use of estimates such as future cash flows from the assets and discount rates applicable to those assets.The estimates are based on local market conditions existing as at the reporting
168、date.(b)Principles of consolidation The consolidated financial statements incorporate the assets and liabilities of all subsidiaries of Avira Resources Limited(company or parent entity)as at 30 June 2024 and entities controlled by the company for the year then ended.Avira Resources Limited and its s
169、ubsidiaries together are referred to in this financial report as the Group or the consolidated entity.Subsidiaries are all entities over which the group has control.The group controls an entity when the group is exposed to,or has rights to,variable returns from its involvement with the entity and ha
170、s the ability to affect those returns through its power to direct the activities of the entity.Subsidiaries are fully consolidated from the date on which control is transferred to the Group.They are de-consolidated from the date that control ceases.Transactions with non-controlling interests are tre
171、ated as transactions with parties external to the Group.Disposals to non-controlling interests result in gains and losses for the Group that are recorded in the statement of comprehensive income.Purchases from non-controlling interests result in goodwill,being the difference between any consideratio
172、n paid and the relevant share acquired of the carrying value of identifiable net assets of the subsidiary.AVIRA RESOURCES LIMITED AND ITS CONTROLLED ENTITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 33 Intercompany transactions,balances and unrealised gains on transactions b
173、etween Group companies are eliminated.Unrealised losses are also eliminated unless the transaction provides evidence of the impairment of the asset transferred.Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group.Non-contr
174、olling interests in the results and equity of subsidiaries are shown separately in the consolidated income statement,statement of comprehensive income,statement of changes in equity and statement of financial position respectively.Investments in subsidiaries are accounted for at cost in the individu
175、al financial statements of the Company.(c)Exploration and evaluation of assets Exploration and evaluation expenditure in relation to each separate area of interest are recognised as an exploration asset in the year in which they are incurred where the following conditions are satisfied.The area of i
176、nterest includes exploration assets in Sweden:(i)The rights to tenure of the area of interest are current;and (ii)At least one of the following conditions is also met:(a)the exploration and evaluation expenditures are expected to be recouped through successful development and exploitation of the are
177、a of interest,or alternatively,by its sale;and (b)Exploration and evaluation activities in the area of interest have not at the reporting date reached a stage which permits a reasonable assessment of the existence or otherwise of economically recoverable reserves,and active and significant operation
178、s in,or in relation to,the areas of interest are continuing.Exploration and evaluation assets are initially measured at cost and include acquisition rights to explore,topographical,geological,geochemical and geophysical studies,exploratory drilling,trenching,sampling and activities in relation to ev
179、aluating the technical feasibility and commercial viability of extracting a mineral resource.General and administrative costs are allocated to,and included in,the cost of an exploration and evaluation asset,but only to the extent that those costs can be related directly to operational activities in
180、the area of interest to which the exploration and evaluation asset relates.Exploration and evaluation assets are assessed for impairment when facts and circumstances suggest that the carrying amount of an exploration and evaluation of asset may exceed its recoverable amount.Indicators of impairment
181、on the capitalised exploration and evaluation assets include,but are not limited to:The period for which the entity has the right to explore in the specific areas has expired during the period or will expire in the near future,and is not expected to be renewed;Substantive expenditure of further expl
182、oration for and evaluation of mineral resources in the specific area is neither budgeted nor planned;Exploration for and evaluation of mineral resource in the specific area have not led to the discovery of commercially viable quantities of mineral resources and the entity has decided to discontinue
183、such activities in the specific area;and AVIRA RESOURCES LIMITED AND ITS CONTROLLED ENTITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 34 Sufficient data exist to indicate that,although a development in the specific area is likely to proceed,the carrying amount of the explora
184、tion and evaluation asset is unlikely to be recovered in full from successful development or by sale.(d)Share-based payments arrangements For equity-settled share-based payments other than to employees,the Group recognises fair value directly at the fair value of the goods or services received.Where
185、 this cannot be measured reliably,fair value is measured indirectly by reference to the fair value of the equity instruments granted.Equity-settled share-based payments to employees and others providing similar services are measured at the fair value of the equity instruments at the grant date.Detai
186、ls regarding the determination of the fair value of equity-settled share-based transactions are set out in note 20.The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period,based on the Groups estimate of equit
187、y instruments that will eventually vest,with a corresponding increase in equity.At the end of each reporting period,the Group revises its estimate of the number of equity instruments expected to vest.The impact of the revision of the original estimates,if any,is recognised in profit or loss such tha
188、t the cumulative expense reflects the revised estimate,with a corresponding adjustment to the equity-settled employee benefits reserve.(e)Contributed equity Ordinary shares are classified as equity.Incremental costs directly attributable to the issue of new shares or options are shown in equity as a
189、 deduction,net of tax,from the proceeds.Incremental costs directly attributable to the issue of new shares or options for the acquisition of a business are not included in the cost of the acquisition as part of the purchase consideration.If the entity reacquires its own equity instruments,for exampl
190、e as the result of a share buy-back,those instruments are deducted from equity and the associated shares are cancelled.No gain or loss is recognised in the profit or loss and the consideration paid including any directly attributable incremental costs(net of income taxes)is recognised directly in eq
191、uity.(f)New accounting standards and interpretations Standards and Interpretations applicable to 30 June 2024 In the year ended 30 June 2024,the Directors have reviewed all of the new and revised Standards and Interpretations issued by the AASB that are relevant to the Companys operations and effect
192、ive for the year reporting periods beginning on or after 1 July 2023.As a result of this review,the Directors have determined that there is no material impact of the new and revised Standards and Interpretations on the Company and therefore no material change is necessary to Group accounting policie
193、s.Standards and Interpretations in issue not yet adopted applicable to 30 June 2024 The Directors have also reviewed all of the new and revised Standards and Interpretations in issue not yet adopted that are relevant to the Company and effective for the year reporting periods beginning on or after 1
194、 July 2023.As a result of this review,the Directors have determined that there is no material impact of the new and revised Standards and AVIRA RESOURCES LIMITED AND ITS CONTROLLED ENTITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 35 Interpretations in issue not yet adopted
195、on the Company and therefore no material change is necessary to Group accounting policies.(g)Foreign Currency Transactions and Balances Functional and Presentation Currency The functional currency of each of the Groups subsidiaries is measured using the currency of the primary economic environment i
196、n which that subsidiary operates.The consolidated financial statements are presented in Australian dollars which is the parent entitys functional and presentation currency.The functional currency of the subsidiaries in Sweden is Swedish Krona(SEK).Transactions and Balances Foreign currency transacti
197、ons are translated into functional currency using the exchange rates prevailing at the date of the transaction.Foreign currency monetary items are translated at the year-end exchange rate.Non-monetary items measured at historical cost continue to be carried at the exchange rate at the date of the tr
198、ansaction.Non-monetary items measured at fair value are reported at the exchange rate at the date when fair values were determined.Exchange differences arising on the translation of monetary items are recognised in the Statement of Profit or Loss and other Comprehensive Income.Group Companies The fi
199、nancial results and position of foreign operations whose functional currency is different from the Groups presentation currency are translated as follows:assets and liabilities are translated at year-end exchange rates prevailing at that reporting date;income and expenses are translated at average e
200、xchange rates for the period;and contributed equity and accumulated losses are translated at the exchange rates prevailing at the date of the transaction.All resultant exchange differences have been recognised in the Statement of Profit or Loss and other Comprehensive Income.AVIRA RESOURCES LIMITED
201、AND ITS CONTROLLED ENTITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 36 2.Financial risk management The Groups activities expose it to a variety of financial risks:market risk,credit risk,equity price risk,currency risk and liquidity risk.The Groups overall risk management p
202、rogram focuses on the unpredictability of financial markets and seeks to minimise potential adverse effect on the financial performance of the Group.The Group holds the following financial instruments:Consolidated 2024 Consolidated 2023$Financial assets Cash and cash equivalents 502,580 1,030,416 Fi
203、nancial assets 19,543 43,751 Other receivables-149,188 522,123 1,223,355 Consolidated 2024 Consolidated 2023$Financial liabilities Trade and other payables 3,992 151,440 Unsecured borrowings-3,645 3,992 155,085 (a)Market risk i.Foreign exchange risk Group sensitivity foreign exchange risk The consol
204、idated entity has foreign currency exposure risk as at the reporting date primarily arising out of its operations in Sweden.The Group does not have substantial financial assets or liabilities denominated in SEK.The principal asset of the Swedish operation is the Exploration and Evaluation asset,whic
205、h is non-financial.ii.Interest rate risk The Group has no material exposure to interest rate sensitivity for financial years ended 2024 and 2023.iii.Equity price risk The Group has no material exposure to equity price risk sensitivity for financial years ended 2024 and 2023.See also note 6 below.(b)
206、Credit risk Credit risk is managed on a group basis and reviewed regularly.Credit risk arises from cash and cash equivalents,deposits with banks and financial institutions,including outstanding receivables and committed transactions.As at 30 June 2024 there were no trade receivable balances.Credit r
207、isk from balances with banks and financial institutions is regularly monitored and reviewed by The Board.No material exposure is considered to exist as the Groups policy is to invest its cash and cash equivalents with financial institutions having a credit rating of at least AA.The other receivables
208、 in the prior year represented a right to receive shares to the value of the carrying amount so there is an immaterial credit risk at balance date.AVIRA RESOURCES LIMITED AND ITS CONTROLLED ENTITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 37 Consolidated Consolidated 2024$2
209、023$Cash and bank balances:-Continuing operations 502,580 1,030,416-Other receivables-75,000 502,580 1,105,416 (c)Foreign currency risk During the period,the Group undertook transactions denominated in foreign currency and is exposed to foreign currency risk through foreign exchange rate fluctuation
210、s.Refer also to comments at(a)(i)above.(d)Liquidity risk Liquidity risk arises from the possibility that there will be insufficient funds available to make payment as and when required.The Group manages liquidity risk by continuously monitoring forecast and actual cash flows.Maturities of financial
211、liabilities The tables below analyses the Groups and the parent entitys financial liabilities into relevant maturity groupings based on the remaining period at the reporting date to the contractual maturity date.The amounts disclosed in the table are the contractual undiscounted cash flows.30 June 2
212、024 Less than 6 months$6-12 months$Between 1&2 years$Between 2&5 years$Over 5 years$Total$Non interest bearing Trade and other payables 3,992-3,992 Fixed rate Borrowings-unsecured-30 June Less than 6 6-12 Between Between Over 5 Total 2023 months months 1&2 2&5 years$years years$Non interest bearing
213、Trade and other payables 151,440-151,440 Fixed rate Borrowings-unsecured 3,645-3,645 AVIRA RESOURCES LIMITED AND ITS CONTROLLED ENTITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 38 (e)Fair value of financial instruments The directors have determined the fair value of its equ
214、ity securities held using quoted prices on an active market(see Note 6).3.Other revenue Consolidated Consolidated 2024 2023$Interest revenue 6,890 17,767 Other revenue 28,749 -35,639 17,767 4.Other expenses Consolidated 2024$Consolidated 2023$Travel expenses-31,636 Legal and professional expenses 14
215、,417 76,900 Audit fees 53,084 51,297 Other expenses 3,195 19,666 70,696 179,499 AVIRA RESOURCES LIMITED AND ITS CONTROLLED ENTITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 39 5.Income taxes Tax expense/(income)comprises:Current tax expense/(income)in respect Consolidated Co
216、nsolidated 2024 2023$of the current year -(a)The prima facie income tax expense on pre-tax accounting profit from operations reconciles to the income tax expense in the financial statements as follows:Loss before income tax(712,316)(1,288,543)Income tax expense calculated at 30%(2023:30%)(213,695)(3
217、86,563)Effect of amounts that are not deductible(taxable)in determining taxable profit:Non-deductible/(taxable)items 2,20911,482 (211,486)(375,081)Tax losses and temporary difference not recognised 211,486375,081 -Consolidated Consolidated 2024$2023$(b)Unused tax losses for which no deferred tax ass
218、ets has been recognised 35,604,026 34,936,392 in the balance sheet in accordance with the accounting policy described in Note 1.Potential tax benefit at 30%(2022:30%)10,681,208 10,480,918 Net deferred tax assets have not been brought to account as it is not probable within the immediate future that
219、tax profits will be available against which deductible temporary differences and tax losses can be utilised.Ultimately,recoverability of tax losses in the future is subject to the ability of the Group to satisfy the relevant tax authoritys criteria for using the losses,either by satisfying the Conti
220、nuity of Ownership Test or the Business Continuity Test.As at the date of this signed report,the Groups formal assessments of recoverability are in progress.6.Financial assets Consolidated Consolidated 2024 2023 Listed shares at fair value$19,543$43,751 The Companys financial assets are measured at
221、fair value through Profit or Loss at the end of the reporting period based on Level 1 inputs in the fair value hierarchy.AVIRA RESOURCES LIMITED AND ITS CONTROLLED ENTITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 40 Consolidated Consolidated 2024$2023$7.Exploration and eval
222、uation expenditure Balance at the beginning of the year 653,201 377,964 Tenement write-back/(impairment)-(489,460)Expenditure incurred during the year 603,114 764,697 Balance at the end of the year 1,256,315 653,201 Carrying value of capitalised expenditure Exploration and evaluation assets are asse
223、ssed for impairment when facts and circumstances suggest that the carrying amount of an exploration and evaluation asset may exceed its recoverable amount.The ultimate recoverability of exploration and evaluation expenditure is dependent upon the maintenance of minimum spend requirements to ensure t
224、hat the exploration licences remain in good standing,the successful development and exploitation of the area of interest,or alternatively,by its sale.Consolidated Consolidated 2024$2023$8.Other receivables Other receivables Sale consideration(1)-75,000 Other receivables-VAT-74,188 Balance at the end
225、 of the year -149,188 (1)The sale consideration related to the Sale and Purchase Agreement with Minotour Exploration Limited,completed in a prior period.Consolidated Consolidated 2024$2023$9.Plant,Property and Equipment Balance at the beginning of the year 21,217 26,966 Depreciation(4,320)(5,749)Bal
226、ance at the end of the year 16,897 21,217 Consolidated Consolidated 2024$2023$10.Trade and other payables Trade and other payables (16,008)131,440 Accrued expenses 20,000 20,000 3,992 151,440 AVIRA RESOURCES LIMITED AND ITS CONTROLLED ENTITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30
227、JUNE 2024 41 Consolidated Consolidated 11.Issued capital 2024 2023(a)Share capital$2,938,790,000 fully paid ordinary shares(2023:2,133,790,000)34,946,946 34,190,246 34,946,946 34,190,246 (b)Movements in ordinary share capital No.of shares No.of shares Opening balance 2,133,790,000 2,118,790,000 Shar
228、e issue 8 May 2024 Shares issued as part of placement 530,000,000 275,000,000 -Shares issued for acquisition of assets -15,000,000 Total 2,938,790,000 2,133,790,000 Capital risk management The groups objectives when managing capital are to safeguard their ability to continue as a going concern,so th
229、at they can continue to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital.In order to maintain or adjust the capital structure,the group may adjust the amount of dividends paid to shareholders,return capita
230、l to shareholders,issue new shares or sell assets to reduce debt.12.Reserves Consolidated Consolidated 2024$2023$Revaluation reserve(a)(9,902)(9,902)Foreign exchange reserve(b)(11,179)(15,450)Share options reserve(c)3,128,250 3,128,250 3,107,169 3,102,898(a)Revaluation reserve Balance at beginning o
231、f financial year (9,902)(9,902)Movement in the period-(9,902)(9,902)The revaluation reserve is used to record the movement in equity instruments revalued through other comprehensive income.(b)Foreign exchange reserve Balance at beginning of financial year(15,450)-Movement in the period 4,271(15,450)
232、(11,179)(15,450)The foreign exchange reserve is used to record the retranslation of overseas operations.(c)Share options reserve Balance at beginning of financial year 3,128,250 2,934,508 Share options issued -193,742 3,128,250 3,128,250 AVIRA RESOURCES LIMITED AND ITS CONTROLLED ENTITIES NOTES TO T
233、HE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 42 The share option reserve relates share options granted by the Company to its employees,consultants and Directors under the option terms and conditions issued by the Company.The following reconciles the share options outstanding at the beginn
234、ing and end of the year:2024 2023 No.of options Weighted average exercise price$No.of options Weighted average exercise price$Balance at beginning of 968,710,000 0.008 968,710,000 0.01 year Issued during the year1 402,500,000 0.003-0.01 Expired Options -(968,710,000)0.01 Issued during prior year -96
235、8,710,000 0.008 Balance at end of the year 1,371,210,000 0.008 968,710,000 0.008 Exercisable at end of year 968,710,000 1 402,500,000 unlisted options expiring 30 June 2027 were issued 26 June 2024.The options were free-attaching pursuant to the placement of the same date.13.Accumulated Losses Balan
236、ce at beginning of financial year Consolidated Consolidated 2024($)2023($)Balance at beginning of financial year (34,378,776)(33,090,233)Net loss attributed to members of the parent entity (715,705)(1,288,543)(35,094,481)(34,378,776)Consolidated Consolidated 2024$2023$14.Loss per share Cents per sha
237、re Cents per share Basic loss per share Continuing operations(0.032)(0.061)$Loss for the year (715,705)(1,288,543)Number Number Weighted average number of ordinary shares 2,210,601,765 2,133,790,000 for the purposes of basic loss per share:There are no potential ordinary shares that are considered d
238、ilutive,as a result no dilutive earnings per share has been disclosed.AVIRA RESOURCES LIMITED AND ITS CONTROLLED ENTITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 43 15.Commitments(a)Future exploration Avira Resources Limited has certain uncontracted obligations to expend mi
239、nimum amounts on exploration in tenement areas.These obligations may be varied from time to time and are expected to be fulfilled in the normal course of operations.The uncontracted commitments to be undertaken are as follows:Consolidated Consolidated 2024 2023$No later than 1 year 109,500 32,000 La
240、ter than 1 year and not later than 5 years-109,500 109,500 141,500 To keep tenements in good standing,work programs should meet certain minimum expenditure requirements.If the minimum expenditure requirements are not met,Avira Resources Limited has the option to negotiate new terms or relinquish the
241、 tenements.Avira Resources Limited also has the ability to meet expenditure requirements by joint venture or farm-in agreements.16.Subsidiaries Details of the Groups subsidiaries at the end of the reporting period are as follows:Proportion of ownership interest and voting power held by the Group Nam
242、e of subsidiary Country of incorporation 2024%2023%MGT Mining Limited Australia 89.48%89.48%Garimperos Pty Limited Australia 100%100%Avira Australia Pty Ltd Australia 100%100%Mount Macpherson Pty Ltd Australia 100%100%Avira Sweden AB Sweden 100%100%a.Non-controlling interests(NCI)Set out below is su
243、mmarised financial information for MGT Mining Limited that has non-controlling interests that are material to the group.The amounts disclosed for MGT Mining Limited are before inter-company eliminations.AVIRA RESOURCES LIMITED AND ITS CONTROLLED ENTITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEA
244、R ENDED 30 JUNE 2024 44 MGT Mining Limited Summarised balance sheet 2024 2023$Assets Current assets 588 12,588 Non-current assets classified as held for sale -Total current assets 588 12,588 Non-current assets 2,871 2,871 Total assets 3,459 15,459 Liabilities Current liabilities(11,117,344)(11,161,6
245、25)Non-current liabilities -Total liabilities(11,117,344)(11,161,625)Net liabilities(11,113,885)(11,146,166)Accumulated NCI (1,168,291)(1,171,680)Summarised statement of comprehensive income Profit for the year 32,281 -Profit for the year from discontinued operations-Total profit for the year 32,281
246、 -Other comprehensive income-Total comprehensive income 32,281 -Profit allocated to NCI 3,389 -AVIRA RESOURCES LIMITED AND ITS CONTROLLED ENTITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 45 17.Notes to the cash flow statement (a)Reconciliation of cash and cash equivalents F
247、or the purpose of the cash flow statement,cash and cash equivalents included cash on hand and in bank.Cash and cash equivalents at the end of the financial year follows:Consolidated Consolidated 2024 2023$Cash and cash equivalents 502,580 1,030,416 For the purpose of presenting the consolidated stat
248、ement of cash flows,cash and cash equivalents comprise the following at the end for the financial year:(b)Reconciliation of loss for the period to net cash flows from operating activities Consolidated Consolidated 2024 2023$Loss for the year(712,316)(1,288,543)Non-cash flow items:Depreciation expens
249、es 4,320 5,749 Impairment of non-current assets 75,774 489,460 Fair value loss on financial assets 24,208 10,989(Increase)in other current assets-(68,713)Increase in provisions-41,830(Decrease)in trade and other payables(16,658)(21,578)Net cash outflow from operating activities(624,672)(830,806)AVIR
250、A RESOURCES LIMITED AND ITS CONTROLLED ENTITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 46 18.Parent entity disclosure (a)Financial position 2024$2023$Assets Current assets 494,752 1,127,753 Non-current assets 1,346,076 716,285 Total assets 1,840,828 1,844,038 Liabilities C
251、urrent liabilities(39,756)(78,805)Non-current liabilities-Total liabilities(39,756)(78,805)Net assets 1,801,072 1,765,233 Equity Issued equity 34,947,047 34,190,347 Accumulated losses(36,273,765)(35,552,904)Reserves 3,127,790 3,127,790 Total equity 1,801,072 1,765,233 (b)Financial performance 2024$2
252、023$Income 16,733 17,767 Expenses(737,594)(1,306,310)Total comprehensive loss(720,861)(1,288,543)(c)Contingent liabilities of the parent entity The parent entity did not have any contingent liabilities during the current or prior periods.(d)Guarantees entered into by the parent entity in relation to
253、 the debts of its subsidiaries.The parent entity has not entered into any guarantees in relation to the debts of its subsidiaries.Consolidated Consolidated 19.Auditors remuneration 2024 2023$Audit and review of financial reports HLB Mann Judd 43,633 34,297 Total auditors remuneration 43,633 34,297AV
254、IRA RESOURCES LIMITED AND ITS CONTROLLED ENTITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 47 20.Share-based payments(a)Employee share option plan The Group has an ownership-based compensation scheme for executives and senior employees.In accordance with the terms of the pla
255、n,as approved by shareholders at a previous annual general meeting,executives and senior employees may be granted options to purchase ordinary shares at various exercise prices.Each employee share option converts into one ordinary share of Avira Resources Limited(formerly MGT Resources Ltd)on exerci
256、se.No amounts are paid or payable by the recipient on receipt of the option.The options carry neither rights to dividends nor voting rights.Options may be exercised at any time from the date of vesting to the date of their expiry.21.Key management personnel compensation The aggregate compensation ma
257、de to directors and key management personnel of the company and the Group is set out below:Consolidated Consolidated 2024$2023$Short-term employee benefits 269,916 243,500 Other long-term benefits 13,851 13,860 283,767 257,360 22.Related party transactions The Group entered into an agreement with Ci
258、cero Group Pty Ltd(an entity in which Sonu Cheema was shareholder and director)(Cicero)defining the terms of engagement for the provision of administration services by Cicero as a contractor to the Group.Cicero provided book-keeping,company secretarial and administration services to the Company for
259、a monthly fee of$11,000 plus GST.Inclusive of this amount is$3,000 plus GST for non-executive director fees for Sonu.Upon resignation as non-executive director,the services by Cicero continued for$11,000 plus GST due to increased scope of services and operational activities of the Company.The agreem
260、ent also contemplated fees for additional services.The total dollar amount charged under the administrative agreement was$105,428 for the 2023 financial year.Cicero merged with Nexia Perth during the financial year ended 30 June 2024,and Sonu is a Director of Nexia Perth,who continued to provide ser
261、vices to the Group.Sonu was no longer acting as one of the Groups Key Management Personnel at that time,however,and transactions with Nexia Perth are not therefore considered to be related party transactions.AVIRA RESOURCES LIMITED AND ITS CONTROLLED ENTITIES NOTES TO THE FINANCIAL STATEMENTS FOR TH
262、E YEAR ENDED 30 JUNE 2024 48 23.Segment reporting 30 June 2024 Australia$Sweden$Consolidated$Total segment assets Current assets Cash and cash equivalents 495,338 7,242 502,580 Other financial assets 19,543-19,543 Total current assets 514,881 7,242 522,123 Non-current assets Exploration and evaluati
263、on 255,383 1,000,932 1,256,315 Plant and equipment 16,897-16,897 Total non-current assets 272,280 1,000,932 1,273,212 Total assets 787,161 1,008,174 1,795,335 Additions to exploration and evaluation during the financial year 39,687 563,427 603,114 30 June 2024 Australia$Sweden$Consolidated$Segment c
264、ontinued operations Other Revenue 35,639-35,639 Employee benefits expense(283,767)-(283,767)Impairment on project receivable (75,774)-(75,774)Fair value loss on financial assets (24,208)-(24,208)Corporate services(120,000)-(120,000)Administration expenses(133,061)(40,449)(173,510)Other expenses(70,4
265、30)(266)(70,696)Loss before tax(671,601)(40,715)(712,316)Income tax expense-Loss for the year(671,601)(40,715)(712,316)AVIRA RESOURCES LIMITED AND ITS CONTROLLED ENTITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 49 30 June 2023 Australia$Sweden$Consolidated$Total segment ass
266、ets Current assets Cash and cash equivalents 1,024,458 5,958 1,030,416 Other receivables 75,000 74,188 149,188 Other financial assets 43,751-43,751 Total current assets 1,143,209 80,146 1,223,355 Non-current assets Exploration and evaluation 215,696 437,505 653,201 Plant and equipment 21,217-21,217
267、Total non-current assets 236,913 437,505 674,418 Total assets 1,380,122 517,651 1,897,773 Additions to exploration and evaluation during the financial year 327,192 437,505 764,697 30 June 2023 Australia$Sweden$Consolidated$Segment continued operations Other Revenue 17,767-17,767 Employee benefits ex
268、pense(229,038)-(229,038)Impairment of deferred exploration and evaluation expenditure(489,460)-(489,460)Advisory and consulting fees(95,100)-(95,100)Corporate services(162,381)-(162,381)Administration expenses(120,879)(29,953)(150,832)Other expenses(173,076)(6,423)(179,499)Loss before tax(1,252,167)
269、(36,376)(1,288,543)Income tax expense-Loss for the year(1,252,167)(36,376)(1,288,543)AASB 8“Operating Segments”requires operating segments to be identified on the basis of internal reports about components of the Group that are reviewed by the chief operating decision maker(considered to be Board of
270、 Directors)in order to allocate resources to the segment and assess its performance.The chief operating decision maker of the Group reviews internal reports prepared as consolidated financial statements and strategic decisions of the Group are determined upon analysis of these internal reports.Durin
271、g the period,the Group operated in two segments being the mineral exploration sector in Western Australia and Sweden.Accordingly,under the“management approach”outlined above two operating segments have been identified and no further disclosure is required in the notes to the consolidated financial s
272、tatements.AVIRA RESOURCES LIMITED AND ITS CONTROLLED ENTITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 50 24.Events occurring after the reporting period There has not been any other matter or circumstance occurring subsequent to the end of the financial period that has signi
273、ficantly affected,or may significantly affect,the operations of the consolidated entity,the results of those operations,or the state of affairs of the Group in future financial years.AVIRA RESOURCES LIMITED AND ITS CONTROLLED ENTITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
274、 51 CONSOLIDATED ENTITY DISCLOSURE STATEMENT Place formed/Ownership Country of interest Entity name Entity type Incorporation%Tax residency MGT Mining Limited Body corporate Australia 89.48%Australia Garimperos Pty Limited Body corporate Australia 100%Australia Avira Australia Pty Limited Body corpo
275、rate Australia 100%Australia Mount MacPherson Ltd Body corporate Australia 100%Australia Avira Sweden AB Body corporate Sweden 100%Sweden AVIRA RESOURCES LIMITED AND ITS CONTROLLED ENTITIES DIRECTORS DECLARATION FOR THE YEAR ENDED 30 JUNE 2024 52 The directors declare that:In the directors opinion,t
276、here are reasonable grounds to believe that the company will beable to pay its debts as and when they become due and payable.Please refer Note 1(a),Going Concern,for further details;In the directors opinion,the attached financial statements and notes thereto are inaccordance with the Corporations Ac
277、t 2001,including compliance with accountingstandards and giving a true and fair view of the financial position and performance of thecompany and the consolidated entity;In the directors opinion,the financial statements and notes thereto are in accordance withAustralian Accounting Standards issued by
278、 the Australian Accounting Standards Board;The directors have been given the declarations required by s.295A of the Corporations Act 2001;andThe information disclosed in the attached consolidated entity disclosure statement is true and correct.Signed in accordance with a resolution of the directors
279、made pursuant to s.295(5)of the Corporations Act 2001.On behalf of the Directors David Deloub Executive Director Dated:30 September 2024 53 INDEPENDENT AUDITORS REPORT To the Members of Avira Resources Limited Report on the Audit of the Financial Report Opinion We have audited the financial report o
280、f Avira Resources Limited(“the Company”)and its controlled entities(“the Group”),which comprises the consolidated statement of financial position as at 30 June 2024,the consolidated statement of profit or loss and other comprehensive income,the consolidated statement of changes in equity and the con
281、solidated statement of cash flows for the year then ended,notes to the financial statements,including material accounting policy information,the consolidated entity disclosure statement and the directors declaration.In our opinion,the accompanying financial report of the Group is in accordance with
282、the Corporations Act 2001,including:(a)giving a true and fair view of the Groups financial position as at 30 June 2024 and of its financial performance for the year then ended;and (b)complying with Australian Accounting Standards and the Corporations Regulations 2001.Basis for Opinion We conducted o
283、ur audit in accordance with Australian Auditing Standards.Our responsibilities under those standards are further described in the Auditors Responsibilities for the Audit of the Financial Report section of our report.We are independent of the Group in accordance with the auditor independence requirem
284、ents of the Corporations Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Boards APES 110 Code of Ethics for Professional Accountants(including Independence Standards)(“the Code”)that are relevant to our audit of the financial report in Australia.We have als
285、o fulfilled our other ethical responsibilities in accordance with the Code.We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.Material Uncertainty Related to Going Concern We draw attention to Note 1(a)in the financial report,which in
286、dicates that a material uncertainty exists that may cast significant doubt on the Groups ability to continue as a going concern.Our opinion is not modified in respect of this matter.Key Audit Matters Key audit matters are those matters that,in our professional judgement,were of most significance in
287、our audit of the financial report of the current period.These matters were addressed in the context of our audit of the financial report as a whole,and in forming our opinion thereon,and we do not provide a separate opinion on these matters.54 In addition to the matter described in the Material Unce
288、rtainty Related to Going Concern section,we have determined the matters described below to be the key audit matters to be communicated in our report.Key Audit Matter How our audit addressed the key audit matter Carrying Value of Exploration and Evaluation Assets Refer to Note 7.In accordance with AA
289、SB 6 Exploration for and Evaluation of Mineral Resources,the Group capitalises all exploration and evaluation expenditure,including acquisition costs and subsequently applies the cost model after recognition.Our audit focused on the Groups assessment of the carrying amount of the capitalised explora
290、tion and evaluation asset,as this is one of the most significant assets of the Group.We planned our work to address the audit risk that the capitalised expenditure may no longer meet the recognition criteria of the standard.In addition,we considered it necessary to assess whether facts and circumsta
291、nces existed to suggest that the carrying amount of an exploration and evaluation asset may exceed its recoverable amount.Our procedures included but were not limited to the following:We obtained an understanding of the key processes associated with managements review of the carrying values of each
292、area of interest;We considered managements assessment of potential indicators of impairment;We obtained evidence that the Group has current rights to tenure over its areas of interest;We examined the exploration budget for the year ending 30 June 2024 and discussed with management the nature of plan
293、ned activities;We enquired with management,reviewed ASX announcements and reviewed minutes of Directors meetings to ensure that the Group had not resolved to discontinue exploration and evaluation at any of its areas of interest;We substantively tested a sample of exploration expenditure during the
294、year;and We examined the disclosures made in the financial report.Information Other than the Financial Report and Auditors Report Thereon The directors are responsible for the other information.The other information comprises the information included in the Groups annual report for the year ended 30
295、 June 2024,but does not include the financial report and our auditors report thereon.Our opinion on the financial report does not cover the other information and accordingly we do not express any form of assurance conclusion thereon.In connection with our audit of the financial report,our responsibi
296、lity is to read the other information and,in doing so,consider whether the other information is materially inconsistent with the financial report,or our knowledge obtained in the audit or otherwise appears to be materially misstated.If,based on the work we have performed,we conclude that there is a
297、material misstatement of this other information,we are required to report that fact.We have nothing to report in this regard.55 Responsibilities of the Directors for the Financial Report The directors of the Company are responsible for the preparation of:(a)the financial report(other than the consol
298、idated entity disclosure statement)that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001;and (b)the consolidated entity disclosure statement that is true and correct in accordance with the Corporations Act 2001,and for such internal control
299、as the directors determine is necessary to enable the preparation of:(a)the financial report(other than the consolidated entity disclosure statement)that gives a true and fair view and is free from material misstatement,whether due to fraud or error;and (b)the consolidated entity disclosure statemen
300、t that is true and correct and is free from material misstatement,whether due to fraud or error.In preparing the financial report,the directors are responsible for assessing the ability of the Group to continue as a going concern,disclosing,as applicable,matters related to going concern and using th
301、e going concern basis of accounting unless the directors either intend to liquidate the Group or to cease operations,or have no realistic alternative but to do so.Auditors Responsibilities for the Audit of the Financial Report Our objectives are to obtain reasonable assurance about whether the finan
302、cial report as a whole is free from material misstatement,whether due to fraud or error,and to issue an auditors report that includes our opinion.Reasonable assurance is a high level of assurance,but is not a guarantee that an audit conducted in accordance with Australian Auditing Standards will alw
303、ays detect a material misstatement when it exists.Misstatements can arise from fraud or error and are considered material if,individually or in the aggregate,they could reasonably be expected to influence the economic decisions of users taken on the basis of this financial report.As part of an audit
304、 in accordance with the Australian Auditing Standards,we exercise professional judgement and maintain professional scepticism throughout the audit.We also:Identify and assess the risks of material misstatement of the financial report,whether due to fraud or error,design and perform audit procedures
305、responsive to those risks,and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error,as fraud may involve collusion,forgery,intentional omissions,mi
306、srepresentations,or the override of internal control.Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances,but not for the purpose of expressing an opinion on the effectiveness of the Groups internal control.Ev
307、aluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.Conclude on the appropriateness of the directors use of the going concern basis of accounting and,based on the audit evidence obtained,whether a materia
308、l uncertainty exists related to events or conditions that may cast significant doubt on the Groups ability to continue as a going concern.If we conclude that a material uncertainty exists,we are required to draw attention in our auditors report to the related disclosures in the financial report or,i
309、f such disclosures are inadequate,to modify our opinion.Our conclusions are based on the audit evidence obtained up to the date of our auditors report.However,future events or conditions may cause the Group to cease to continue as a going concern.56 Evaluate the overall presentation,structure and co
310、ntent of the financial report,including the disclosures,and whether the financial report represents the underlying transactions and events in a manner that achieves fair presentation.We communicate with the directors regarding,among other matters,the planned scope and timing of the audit and signifi
311、cant audit findings,including any significant deficiencies in internal control that we identify during our audit.We also provide the directors with a statement that we have complied with relevant ethical requirements regarding independence,and to communicate with them all relationships and other mat
312、ters that may reasonably be thought to bear on our independence,and where applicable,actions taken to eliminate threats or safeguards applied.From the matters communicated with the directors,we determine those matters that were of most significance in the audit of the financial report of the current
313、 period and are therefore the key audit matters.We describe these matters in our auditors report unless law or regulation precludes public disclosure about the matter or when,in extremely rare circumstances,we determine that a matter should not be communicated in our report because the adverse conse
314、quences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.REPORT ON THE REMUNERATION REPORT Opinion on the Remuneration Report We have audited the Remuneration Report included within the Directors Report for the year ended 30 June 2024.In our opi
315、nion,the Remuneration Report of Avira Resources Limited for the year ended 30 June 2024 complies with Section 300A of the Corporations Act 2001.Responsibilities The directors of the Company are responsible for the preparation and presentation of the Remuneration Report in accordance with Section 300
316、A of the Corporations Act 2001.Our responsibility is to express an opinion on the Remuneration Report,based on our audit conducted in accordance with Australian Auditing Standards.HLB Mann Judd D I Buckley Chartered Accountants Partner Perth,Western Australia 30 September2024 ADDITIONAL STOCK EXCHAN
317、GE INFORMATION The information set out below was applicable as at 25 September 2024.A.Distribution of equity securities Analysis of numbers of equity security holders by size of holding:AVW Range Total holders Units%Units 1-1,000 74 48,744 0.00 1,001-5,000 154 379,030 0.01 5,001-10,000 40 307,586 0.
318、01 10,001-100,000 304 19,976,014 0.68 100,001 Over 1,118 2,918,078,626 99.30 Total 1,690 2,938,790,000 100.00 Unmarketable Parcels Minimum Parcel Size Holders Units Minimum$500.00 parcel at$0.0020 per unit 500,000 1,082 143,922,319 AVWOA Range Total holders Units%Units 1-1,000-0.00 1,001-5,000-0.00
319、5,001-10,000-0.00 10,001-100,000 9 900,000 0.09 100,001 Over 94 967,810,000 99.91 Total 103 968,710,000 100.00 Unlisted Options-$0.03 exercise price and 30 June 2027 expiry date Range Total holders Units%Units 1-1,000-0.00 1,001-5,000-0.00 5,001-10,000-0.00 10,001-100,000-0.00 100,001 Over 49 402,50
320、0,000 100.0 Total 49 402,500,000 100.00 ADDITIONAL STOCK EXCHANGE INFORMATION Equity security holders Twenty largest quoted equity security holders The names of the twenty largest holders of quoted equity securities are listed below:AVW Name Units%Units 1 SUNSET CAPITAL MANAGEMENT PTY LTD 210,500,00
321、0 7.16 2 STANDARD PASTORAL COMPANY PTY LTD 140,000,000 4.76 3 MR PAUL AINSWORTH 80,846,734 2.75 4 SABRELINE PTY LTD 50,000,000 1.70 4 STATION NOMINEES PTY LTD 50,000,000 1.70 6 MR SHANE TIMOTHY BALL 43,000,000 1.46 7 PEARSE STREET PTY LTD 39,800,000 1.87 8 JKR SUPER PTY LTD 39,800,000 1.40 9 MR PAUL
322、 SIMON DONGRAY 30,000,000 1.36 9 MISS PO-I LEE 39,800,000 1.35 11 THE MARKET BULL PTY LTD 32,000,000 1.09 12 CHAMPAGNE CAPITAL PTY LTD 31,000,000 1.05 13 GREAT HEALTH PTY LTD 30,000,000 1.02 14 BNP PARIBAS NOMS PTY LTD 27,549,311 0.94 15 SARODAN PTY LTD 27,416,667 0.93 16 DAVY CORP PTY LTD 27,000,00
323、0 0.92 17 RIMOYNE PTY LTD 25,579,645 0.87 18 MRS LEANNE LOUISE AITKEN 25,000,000 0.85 18 FORMICA INVESTMENTS PTY LTD 25,000,000 0.85 18 KG VENTURE HOLDINGS PTY LTD 25,000,000 0.85 Totals:Top 20 holders of All Fully Paid Ordinary Shares(Total)1,135,492,357 38.64 Total Remaining Holders Balance 1,803,
324、297,643 61.36 VWOA Name Units%Units 1 STANDARD PASTORAL COMPANY PTY LTD 209,301,835 21.61 2 SUNSET CAPITAL MANAGEMENT PTY LTD 142,500,000 14.71 3 STATION NOMINEES PTY LTD 81,534,556 8.42 4 CELTIC CAPITAL PTY LTD 70,000,000 7.23 5 JKR SUPER PTY LTD 50,000,000 5.16 6 J&J BANDY NOMINEES PTY LTD 40,000,
325、000 4.13 7 MR PAUL SIMON DONGRAY 35,200,000 3.63 8 MS NICOLE GALLIN+MR KYLE HAYNES 25,000,000 2.58 9 CHAMPAGNE CAPITAL PTY LTD 17,499,858 1.81 10 MR MD AKRAM UDDIN 16,900,007 1.74 11 CPS CAPITAL GROUP PTY LTD 15,000,000 1.55 11 CPS CAPITAL NO 4 PTY LTD 15,000,000 1.55 13 CELTIC CAPITAL PTY LTD 11,75
326、9,074 1.21 14 STONEHURST(WA)PTY LTD 10,500,000 1.08 15 FIRST INVESTMENT PARTNERS PTY LTD 10,000,000 1.03 15 JL AND RA ROBERTS PTY LTD 10,000,000 1.03 15 SABRELINE PTY LTD 10,000,000 1.03 15 MR MARK PETER SOMIC 10,000,000 1.03 19 PLUTUS VENTURES PTY LTD 8,500,000 0.88 20 MR MOHAMED GABR 8,000,000 0.8
327、8 Totals:Top 20 holders of LISTED OPTIONS EXPIRING 31/12/2024$0.008 796,695,330 82.24 Total Remaining Holders Balance 172,014,670 17.76 ADDITIONAL STOCK EXCHANGE INFORMATION B.Substantial Shareholders The names of shareholders with relevant interests of 5%or more(of the voting power of those shares)
328、are listed below:AVW Name Units%Units 1 SUNSET CAPITAL MANAGEMENT PTY LTD 210,500,000 7.16 C.Issued Capital The issued Capital of the Company as at 25 September 2024 is:2,938,790,000 ordinary fully paid shares 968,710,000 listed options exercisable at$0.008 on or before 31 December 2024 402,500,000
329、unlisted options exercisable at$0.003 on or before 30 June 2027 All issued ordinary fully paid shares carry one vote per share.Listed options and unlisted options do not carry any votes.D.Other There are currently no securities subject to Escrow There is currently no on-market buyback program for any of the Companys listed securities.E.Schedule of Mineral Tenements LEASE NAME AREA AREA UNITS GRANT DATE EXPIRY DATE HOLDER EA Puolalaki(Sweden)*NR100 Puolalaki 16 Kms 21-Dec-2018 21-Dec-2023 Scott Geological AB N/A *farm-in agreement
0731-84720580
sgpjbg002
工作日 9:30 - 18:00
研報
新質生產力
DeepSeek?
低空經濟
大模型
AI Agent
AI Infra
具身智能
自動駕駛
寵物
銀發經濟
人形機器人
企業出海
算力
微短劇
薪酬
白皮書
創新藥
人工智能
AI產業
信息科技
互聯網
消費經濟
汽車交通
電商零售
傳媒娛樂
醫藥健康
投資金融
能源環境
地產建筑
傳統產業
英文報告
其它
最新報告
中英對照
全文搜索
報告精選
PDF上傳翻譯
多格式文檔互轉
入駐&報告售賣
會員權益
機構報告
券商研報
財報庫
專題合集
英文報告
數據圖表
會議報告
其他資源
行業聚焦
芯片產業
熱點概念
全球咨詢智庫
人工智能
500強
新質生產力
會議峰會
新能源汽車
企業年報
互聯網
公司研究
行業綜觀
消費教育
科技通信
醫藥健康
人力資源
投資金融
汽車產業
物流地產
電子商務
傳統產業
傳媒營銷
其它
2025低空經濟/低空產業報告合集（共49套打包）
2025年智算中心/AIDC/AI數據中心研究報告合集（共37套打包）
AI、科技與通信
廣告、傳媒與營銷
消費、零售與支付
HR、文化與旅游
金融、保險與投資
能源、環境與工業
醫療制藥與大健康
物流、地產與建筑
其他行業
AI ? 科技 ? 通信
數字化
金融財經
智能制造
電商傳媒
地產建筑
醫療醫學
能源化工
其他行業
收藏
下載
2025-05-20
AI查數
行業數據
政策法規
商業模式
產業鏈
競爭格局
市場規模
產業概述
其它
2025年
AI讀財報
年報
一季報
半年報
三季報
IPO招股書
社會責任報告
A股
IPO申報
港股
美股&全球
新三板
掃碼登錄
手機快捷登錄
賬號登錄
