ANNUAL Report June 2025 Notes to the Consolidated Financial Statements 33 17. KEY MANAGEMENT PERSONNEL COMPENSATION 2025 $ 2024 $ Short-term employee benefits 552,499 543,647 Post-employment benefits 6,921 - Share based payments 136,207 29,651 695,627 573,298 18. CONTINGENT LIABILITIES The Group has provided guarantees totalling $1,699,944 in respect of mining exploration tenements and environmental bonds. These guarantees in respect of mining and exploration tenements are secured against deposits with the relative State Department of Mines. The Company does not expect to incur any material liability in respect of the guarantees. 19. COMMITMENTS Exploration Licence Expenditure Requirements Queensland The Queensland Government has approved a number of changes to Exploration Permits under the Natural Resources and Other Legislation Amendment Act 2019 (known as NROLA Act). This Act commenced in May 2020, resulting in a change from an expenditure-based approach upon which a company’s compliance with its licence conditions will be assessed on an outcomes-based approach. New South Wales On 22 March 2025 the Company entered into a Tenement Purchase Agreement with Sozo Resources Pty Ltd (“Sozo”) for EQR’s 100% owned NSW Projects Crow Mountain (EL6648) and Panama Hat (EL8024). The key terms of the agreement were: - Sozo to pay $1.00 and reimburse EQR the two cash security deposits totalling $20,000; and - EQR to receive a royalty equal to 1% of net smelter returns from each of the royalty tenements with Sozo having a royalty buy-back option, at any time, to buy back 100% of the applicable royalty for $250,000 for one royalty tenement or $500,000 for both. As at 30 June 2025 the Company impaired the capitalised exploration and evaluation expenditure associated with these tenements. 2025 $ 2024 $ Payable not later than 1 year (NSW only) - - Payable later than one year but not later than two years - 160,000 - 160,000 It is also likely that the granting of new licences and changes in licence areas at renewal or expiry will change the expenditure commitment of the Group from time to time. EQ Resources Limited Annual Report 2025 99
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