Notes to the Consolidated Financial Statements for the year ended 30 June 2024 20. EVENTS SUBSEQUENT TO BALANCE SHEET On 6 August 2024 the Company announced that it had entered into a binding conditional agreement to acquire all the issued capital of Itafos Araxá Mineracao E Fertilizantes S.A (“Itafos Araxá”) which owns 100% of the advanced niobium-REE Araxá Project in Minas Gerais, Brazil (“Araxá” or “the Project”). The closing of the transaction is subject to the completion (or waiver) of certain conditions by November 3, 2024. St George advised that it has received firm commitments for a placement of shares to raise AUD$21,250,000 via the issue of 850,000,000 ordinary shares of the Company to institutional and sophisticated investors at an issue price of $0.025 (the “Placement”). The Placement will be completed in two tranches: – Tranche 1: the placement of 100,000,000 shares at $0.025 per share under the Company’s Listing Rule 7.1 capacity. – Tranche 2: the placement of 750,000,000 shares at $0.025 per share subject to approval at the EGM. Other than the above there have been no matters or circumstances that have arisen since the end of the financial year which significantly affected or could significantly affect the operations of the consolidated entity, the results of those operations, or the state of affairs of the consolidated entity in future financial years. 21. FINANCIAL INSTRUMENTS (a) Interest Rate Risk The Group’s exposure to interest rate risk, which is the risk that the financial instrument’s value will fluctuate as a result of changes in market interest rates and the effective weighted average interest rates on those financial assets and financial liabilities, is as follows: 2024 Note Floating interest rate $ Fixed interest rate $ Non-interest bearing $ Total $ Weighted average interest rate % Financial assets Cash and cash equivalents 17(a) 498,377 2,000,000 22,121 2,520,498 3.95% Trade and other receivables 10(a) – – 6,828 6,828 – Security bond – 71,809 – – 71,809 0.08% 570,186 2,000,000 28,949 2,599,135 – Financial liabilities Trade and other payables 13 – – 459,695 459,695 – Lease liability 11(b) – 293,155 – 293,155 5.40% – 293,155 459,695 752,850 – 2023 Note Floating interest rate $ Fixed interest rate $ Non-interest bearing $ Total $ Weighted average interest rate % Financial assets Cash and cash equivalents 17(a) 3,327,790 – 9,791 3,337,581 2.36% Trade and other receivables 10(a) – – 32,306 32,306 – Security bond – 71,748 – – 71,748 0.02% 3,399,538 – 42,097 3,441,635 – Financial liabilities Trade and other payables 13 – – 1,498,083 1,498,083 – Lease liability 11(b) – 327,872 – 327,872 5.40% – 327,872 1,498,083 1,825,955 – Based on the balances at 30 June 2024 a 1% movement in interest rates would increase/decrease the loss for the year before taxation by $25,205 (2023: $33,376). 46 St George Mining Limited Annual Report 2024
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