Ann: Quarterly Activities Report, page-7

Cash Flows and Position
Cash as at 31 December 2023 was A$63.2 million (30 Sep 2023: A$59.6 million). Cash flows
during the quarter included the following material items:
• A$5.0m paid to Sinosteel as the first tranche of the Beebyn-W11right to mine agreement;
• A$5.0m in loan funding provided to 10M Pty Ltd, as part of the ore purchase agreement;
• A$8.0 in taxes and royalty payments;
• A$4.0m in the settlement of hedging swap contracts; and
• Net capital expenditure and transaction costs of A$2.0 million mainly related to M&A fees
and the acquisition of new prime mover trucks, net of the disposal of existing fleet, as part
of the expansion of the Company’s haulage fleet.
These cash flows did not include sales receipts of A$10.4 million for the last shipment for the
quarter as the funds for this shipment were received in early January 2024.