Speciality Metals International Limited Annual Report 2019

Page | 32 CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2019 2019 2018 Note $ $ CURRENT ASSETS Cash assets 19(b) 217,962 602,675 Trade and other receivables 190,622 23,989 Financial assets 4 - 800,000 Prepayments 75,212 64,865 TOTAL CURRENT ASSETS 483,796 1,491,529 NON-CURRENT ASSETS Receivables 6 770,021 771,521 Plant and equipment 7,15 331,674 3,861 Inventory 4,15 7,545,413 - Deferred exploration and evaluation expenditure 8 6,834,416 596,066 Financial assets 4 1,289 6,317 TOTAL NON-CURRENT ASSETS 15,482,813 1,377,765 TOTAL ASSETS 15,966,609 2,869,294 CURRENT LIABILITIES Payables 9 780,155 164,582 Employee Benefits 26,473 26,129 Short Term Borrowings 9 200,000 - TOTAL CURRENT LIABILITIES 1,006,628 190,711 NON-CURRENT LIABILITIES Employee Benefits 8,890 6,147 Prepaid Mt Carbine Sublease Rent 20 1,911,911 - Offtake Advance Loan 20 2,134,140 - TOTAL NON-CURRENT LIABILITIES 4,054,941 6,147 TOTAL LIABILITIES 5,061,569 196,858 NET ASSETS 10,905,040 2,672,436 EQUITY Issued capital 10 7,651,079 3,553,567 Reserves 330,000 437,615 Accumulated profit / (loss) 2,923,961 (1,318,746) TOTAL EQUITY 10,905,040 2,672,436