FY23 P&L prediction, page-3

It probably pays to highlight the figure that is the most problematical in my estimates and that is the amount of 'Write-off investment to exploration' of $12.5mil - this relates to the purchase of 30% of Southdown from SRT Aust that was completed on 17Jul23 - Grange has still not confirmed the amount paid in cash and in all honesty it could be anywhere from $0 to $30mil and the other possibility is that they might capitalise the amount instead of writing it off but they do have a policy of writing-off all exploration as incurred and don't have any amount capitalised in their accounts for Southdown. Don't ask me how I've come up with the amount of $12.5mil as I don't have an explanation as I can't decide on the split between tax paid and this Southdown payment in the quarter's cash reconciliation.