EQ Resources Limited Annual Report 2025

ANNUAL Report June 2025 Notes to the Consolidated Financial Statements 27 9. RECEIVABLES 2025 $ 2024 $ Tenement security deposits 1,674,695 1,189,102 Quary sales permit surety 50,000 50,000 Other security deposits 13,015 9,165 1,737,710 1,248,267 Tenement deposits are restricted in that they are available for rehabilitation that may be required on the mining leases and/or exploration tenements whereas the Quarry sales permit surety is restricted to cover the nonpayment of sales permit fees on the material sold by Mt Carbine Quarrying Operations Pty Ltd. (refer to Notes 18 and 19). 10. PLANT AND EQUIPMENT AT COST Land & Buildings Plant & Machinery Mine Assets Capital works in progress Total Cost at 1 July 2024 17,602,230 91,396,077 10,736,842 8,842,657 128,577,806 Prior period restatement – bargain purchase gain - (12,831,231) - - (12,831,231) Additions 35,324 18,716,854 13,265,106 987,459 33,004,742 Acquisition of subsidiary - 7,433,711 - - 7,433,711 Disposals - (3,783,767) - - (3,783,766) Cost at 30 June 2025 17,637,554 100,931,644 24,001,948 9,830,116 152,401,262 Comprising: Cost at 30 June 2025 17,637,554 100,931,644 24,001,948 9,830,116 152,401,262 Accumulated depreciation at 1 July 2024 (3,164,682) (15,968,195) (929,225) - (20,062,102) Accumulated depreciation – JV 50% Acquisition - (2,594,301) (4,551) - (2,598,852) Charge for the year (654,708) (8,719,832) (807,817) - (10,182,357) Eliminated on disposal - 501,818 - - 501,818 Cost at 30 June 2025 13,818,164 74,151,134 22,260,355 9,830,116 120,059,769 11. DEFERRED EXPLORATION AND EVALUATION 2025 $ 2024 $ Costs brought forward 14,922,119 14,273,131 Costs incurred during the period 362,013 1,934,696 Impairment1 (1,204,830) - Loss on disposal of exploration permits (320,835) - Capitalised portion of R&D tax offset - (24,462) Total deferred exploration and evaluation 13,758,467 16,183,365 Amortisation deferred exploration and evaluation (1,854,950) (1,261,246) Costs carried forward 11,903,517 14,922,119 Exploration expenditure costs carried forward are made up of: Expenditure on joint venture areas - - Expenditure on non-joint venture areas 11,903,517 14,922,119 Costs carried forward 11,903,517 14,922,119 1 The impairment relates to those costs associated with the mobilisation of the Golding plant and equipment that was removed from site upon EQ Resources Limited transition to owner/operator for the open cut mining activities in August 2024. EQ Resources Limited Annual Report 2025 93

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