EQ Resources Limited Annual Report 2021

EQ Resources Limited Annual Report 2021 35 Consolidated Statement of Profit or Loss and Other Comprehensive Income ANNUAL Report June 2021 Consolidated Statement of Profit or Loss and Other Comprehensive Income 21 Consolidated Stat m t of Profit or Loss and Other Comprehensive Income For the Year ended 30 June 2021 Note 2021 $ 2020 $ Revenue 2 4,547,080 748,578 Other income 2 871,620 338,867 Total revenue & other income 5,418,700 1,087,445 Administration expenses (661,194) (514,412) Consultant expenses (140,288) (172,600) Depreciation 9 (412,507) (219,655) Amortisation – deferred exploration & evaluation 10 (176,038) - Development and testwork costs (432,068) (351,955) Exploration expenses written-off (886) (29,361) Finance costs (39,643) (7,448) Foreign exchange gains (losses) 302,345 (91,226) Impairment expense (deferred exploration and evaluation assets) 10, 18 - (140,855) Occupancy expenses (109,524) (53,193) Gain / (Loss) on Disposal of Fixed Assets (22,537) (8,564) Production expenses (4,455,540) (664,773) Salaries and employee benefits expense (3,295,284) (1,626,893) Share based payments 25 (279,446) (45,000) Superannuation (213,937) (92,772) Travel and accommodation (57,891) (85,191) Total Expenses (9,994,438) (4,103,898) Profit (Loss) Before Income Tax Expense (4,575,738) (3,016,453) Income Tax Expense 3 - - Profit (Loss) After Income Tax Expense (4,575,738) (3,016,453) Other comprehensive income/(loss) Gain/(loss) on revaluation of financial assets 1,547 773 Total Comprehensive Profit / (Loss) Attributable to Owners of EQ Resources Limited (4,574,191) (3,015,680) Cents Cents Basic profit (loss) per share 13 (0.39) (0.30) Diluted profit (loss) per share 13 (0.39) (0.30) For the year ended 30 June 2021