So the $7,568,00o from TMT was not counted in the $24,190,000 held on December 31?
Nice
For the half-year ended 31 December 2023, the Group recorded an after-tax loss of $5,924,000 (31 December 2022: loss of $2,367,000) and cash outflows from operating and investing activities of $17,808,000 (31 December 2022: $6,821,000).
Cash inflows from financing activities reflect the successful completion of a $15.7 million institutional placement announced on 26 September 2023, with Resource Capital Fund VII LP committing $15 million, and other institutional investors committing a further $0.7 million.
At 31 December 2023, the Group held cash and cash equivalents of $24,190,000 (30 June 2023: $26,874,000) and had net working capital (excluding grant liability) of $22,635,000 (30 June 2023: $23,415,000 million).
On 1 February 2024, the Scheme between the Company and TMT was formally implemented.
On this date, TMT had cash and cash equivalents of $7,586,000.
The Group had outstanding commitments at 31 December 2023 of $1,810,000 relating to the Australian Vanadium Project and $648,000 of exploration obligations, all due within 12 months (refer note 12).
(20min delay)