ANNUAL Report June 2025 Notes to the Consolidated Financial Statements 25 5. INVENTORY 2025 $ 2024 $ Current Finished goods 825,310 1,454,731 Work-in-progress 14,279,259 12,152,075 Raw materials 540,627 19,064 Workshop inventory 3,876,995 3,519,132 19,522,191 17,145,002 Non-current Finished goods Raw materials1 2,320,269 19,831,374 1,789,426 6,369,702 22,151,643 8,159,128 41,673,834 25,304,130 1 Raw materials incorporate the fair value of the estimated 7 million tonnes of stockpiled inventory acquired as part of the acquisition of Mt Carbine Quarries Pty Ltd on 28 June 2019, less the work-in-progress and finished goods inventory which have been created from this stockpiled material since acquisition. It also includes the fair value of the Low Grade Stockpile (LGSP) acquired as part of the acquisition of the 50% interest by EQR of CR Australia’s joint venture interest in the Mt Carbine Retreatment Joint Venture (refer ASX Announcement “EQR Executes Definitive Agreement to Acquire Mt Carbine Retreatment Joint Venture Interest from Cronimet” dated 5 July 2024). Inventory is consumed on a unit of operation basis in accordance with AASB102. All inventory, regardless of type and stage in the production process has been valued at the lower of cost and net realisable value (NRV). Inventories expected to be processed or sold within twelve months after the balance sheet date are classified as current assets. All other inventories are classified as non-current assets. The cost of inventories recognised as an expense includes $11,732 of write-downs of inventory to NRV. 6. FINANCIAL ASSETS 2025 $ 2024 $ Shares in listed companies:1 Critical Resources Limited (ASX: CRR) 387 1,160 387 1,160 Capitalised borrowing costs:2 Current 40,342 90,117 Non-current 233,683 556,096 274,025 646,213 Unexpired interest:2 Current 555,956 678,582 Non-current 879,306 2,081,492 1,435,262 2,760,074 Deferred acquisition costs:3 Current 131,928 72,274 Non-Current 1,225,110 1,180,185 1,357,038 1,252,459 3,066,712 4,659,906 1 Equity instruments are measured at fair value as at reporting date with all changes recognised as other comprehensive income / (loss) in the Consolidated Statement of Profit or Loss and Other Comprehensive Income. 2 The capitalised borrowing costs represent those costs directly attributable to securing the Royalty Funding Package with Regal Resources Royalties Fund and will be amortised over the period in which the first stage royalty of $10 million will be repaid. EQ Resources Limited Annual Report 2025 91
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