Quarterly Activities Report December 2024
Released
Released
Announcement PDF
ASX ANNOUNCEMENT
29 January 2025
Quarterly Activities Report December 2024
HIGHLIGHTS
▪
Recycling operations generated gross profit of ~A$0.6m, representing a 179% increase
relative to Q2 FY24 (pcp) and representing a gross profit margin of 43%
▪
Achieved significant recycling milestones, including recycling agreements with Wabtec,
Infinitev and ReSource, and the award of a ~A$850k grant from the Western Australian
government
▪
Completed activities under the Mineral Resources related Joint Development Agreement
(JDA) for LieNA® technology including refinement of high-quality lithium phosphate and
demonstration plant engineering study
▪
Pathway and funding for the battery material (LFP, LMFP) demonstration plant defined
including potential for government funding and VSPC level private strategic partners
▪
Strategic review completed confirming focus on growing battery recycling, advancing all
technologies with strategic partners and targeting annual cost reductions of at least
A$1.5m1
▪
Cash and listed investments of A$5.6m, including sale of a 30% interest in the Bynoe
Lithium Project and R&D tax incentive rebates
Livium Ltd (ASX:LIT) (“Livium” or the “Company”) is pleased to release its quarterly business update and
Appendix 4C for the period ended 31 December 2024 (“Q2 FY25”).
COMMERCIAL MODEL DELIVERING PROFITABILITY AT REDUCED VOLUMES
Livium’s subsidiary, Envirostream Australia Pty Ltd. (“Envirostream”), has continued to deliver improved financial
results since the Company’s transition towards an upstream ‘Fee for service’ model, which has resulted in a
greater proportion of revenue being received upfront through service fees to customers.
Batteries received are contributing a higher gross profit than seen in the prior corresponding period (“pcp”), but
down on Q1 FY25 due to reduced volumes on non-lithium-ion volumes and usual seasonal impacts. The Company
remains focused on growing the battery recycling business to meet the strong medium-term forecast for end-oflife batteries. The Company is well positioned to access these volumes with the growing number of recycling
services agreements. During the quarter, Envirostream entered into new exclusive recycling agreements with
Wabtec 2 , a global leader in the rail and mining industries, Infinitev 3 , a leading provider of remanufactured EV
batteries in Australia for consumers, and ReSource, a company dedicated to transforming how materials are
recovered and reused. These agreements diversify end-of-life lithium-ion battery sources, complementing
previously executed battery recycling agreements with major original equipment manufacturers (“OEM’s”) such
as BYD Auto, LG Energy Solution, Volvo Bus, and Hyundai Glovis.
In Q2 FY25, Envirostream delivered revenue of ~A$1.3m and gross profit of ~A$0.6m, representing a gross profit
margin of ~43%. Envirostream also achieved a revenue unit rate4 of ~A$9.77 in Q2 FY25, a 178% increase on the
1
See ASX announcement, ‘Livium strategy update’, 28 January 2025
See ASX announcement, ‘Livium signs battery recycling agreement with Wabtec’, 12 December 2024
3
See ASX announcement, ‘LIT signs new battery recycling agreement with Infinitev’, 9 October 2024
4
Revenue unit rate defined as total revenue divided by total collection volumes in the respective period
2
Divisions of Livium
Page 1 of 6
Livium Ltd
Unit 1, 79-83 High Street
ASX: LIT ACN: 126 129 413
Kew, Victoria 3101
Investorhub.liviumcorp.com
T: +61 (0) 3 7017 2656
liviumcorp.com
E: info@liviumcorp.com
ASX ANNOUNCEMENT
pcp, while the gross profit unit rate5 was A$4.2/kg, a 594% increase relative to the pcp. Refer to Table 1 for further
information.
Comment from Livium CEO and Managing Director, Simon Linge
“Our Q2 FY25 report demonstrates our commitment to strategy execution, with continuing gross profits for
battery recycling, completion of our activities under the JDA with MinRes and progressing strategic
partnerships and funding for battery materials.
Our progress has driven our technology development to clear inflection points, with strategic partners now
being sought to advance growth of our technologies to their next phases. This refocus has resulted in a
subsequent reduction in resources and costs as we enter the next phase of development.
Lastly, our capital discipline, including non-core asset sales, has resulted in Livium holding A$5.6m in cash and
listed investments at the end of the quarter.”
Table 1. Battery recycling – quarterly financial information6
Unit
Q1 FY24
Q2 FY24
Q3 FY24
Q4 FY24
Q1 FY25
Q2 FY25
Revenue
A$m
$1.26
$1.19
$1.54
$2.50
$2.45
$1.31
Cost of sales
A$m
$1.25
$0.99
$1.12
$0.95
$0.75
$0.72
Gross profit
A$m
$0.02
$0.20
$0.41
$1.56
$1.71
$0.59
Gross margin
%
1%
17%
27%
62%
70%
45%
Revenue unit rate
A$/kg
$3.05/kg
$3.52/kg↑
$4.48/kg↑
$5.63/kg↑
$6.51/kg↑
$9.77/kg↑
Gross profit unit rate
A$/kg
$0.04/kg
$0.60/kg↑
$1.21/kg↑
$3.50/kg↑
$4.53/kg↑
$4.39/kg↓
During the quarter, the Company achieved total collection volumes of 134 tonnes. 85 tonnes of large-format
lithium-ion battery (“LIB”) were collected, representing a ~5% decrease in large-format LIB collections relative to
Q2 FY24 (89 tonnes).
The lower LIB collections during the quarter were expected due to seasonal changes and in light of acceleration
of collections in the prior quarter to satisfy customer requirements. Over the first half of FY25 large-format LIB
collections total 384 tonnes, a 138% increase relative to the first half of FY24. Envirostream’s shift towards largeformat LIBs, which comprised ~65% of total battery collections during Q2 FY25, exposes the Company to
potentially higher volatility in collection volumes. The importance of this focus on large-format LIBs is because of
the significantly higher margin opportunity relative to other mixed battery chemistries, as demonstrated by the
relative gross profit unit rates in Table 1 in Q2 FY25 relative to the pcp.
The Company is focussed on increasing large-format LIB collections, to maintain attractive unit economics and
generate greater volumes of mixed metal dust (“MMD”) and scrap metals to enhance downstream revenues. With
a continuing strong outlook for battery waste, the Company has maintained the strategic objective of developing
nationwide collection, sorting, and storage capabilities. During the quarter, Livium was awarded a ~A$850k grant
from the Western Australian government 7. The grant will be used to partially fund the development of a battery
recycling facility in WA.
Refer to Figure 1 for additional information on battery collections volume and mix.
5
Gross profit unit rate defined as total cost of sales divided by total collection volumes in the respective period
Summary financials are unaudited and represent the battery recycling business only (i.e. financials presented do not represent Livium on a
consolidated basis)
7
See ASX announcement, ‘Livium awarded ~A$850k grant by WA government to develop a battery recycling facility’, 4 November 2024
6
Divisions of Livium
Page 2 of 6
Livium Ltd
Unit 1, 79-83 High Street
ASX: LIT ACN: 126 129 413
Kew, Victoria 3101
Investorhub.liviumcorp.com
T: +61 (0) 3 7017 2656
liviumcorp.com
E: info@liviumcorp.com
400
350
138
300
200
66
110
Large-format LIBs
Small-format LIBs
18
32
85
Other
Q2 FY25
89
Q1 FY25
73
300
242
Q4 FY24
62
Q3 FY24
69
76
76
32
67
107
Q2 FY24
89
Q4 FY23
Q1 FY23
28
81
Q3 FY23
117
50
0
167
176
150
100
174
168
Q1 FY24
250
235
227
223
46
31
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
% of LIBs
450
Q2 FY23
Collection volume (Tonnes)
ASX ANNOUNCEMENT
% of LIBs
Figure 1. Battery collections volume and mix (FY23 to Q2 FY25)
LIVIUM AND MINRES AGREE NEXT STEPS FOR LieNA® COMMERCIALISATION ACTIVITIES
During the quarter, the Company announced the completion of activities under the Joint Development Agreement
(“JDA”) with Mineral Resources Ltd (ASX: MIN) (“MinRes”) 8 . These activities included the development and
operation of a pilot plant, successful refinement of lithium phosphate and completion of a demonstration plant
engineering study (“Stage 1 Activities”). The completion of these activities marks a key milestone in the
collaborative development of the Company’s patented LieNA® technology.
Subsequent to the quarter, the Company further announced that it has agreed with MinRes the next steps for the
commercialisation of the LieNA® technology 9. Considering current lithium market conditions, Livium and MinRes
will undertake additional activities to optimise the development of the LieNA® technology. The additional activities
will include an assessment of alternate commercialisation pathways for the LieNA® technology, and the selection
of the preferred lithium product for the LieNA® development, including the potential to produce a battery grade
lithium carbonate (“Stage 1A Activities”).
Stage 1A Activities will be fully funded through the remaining balance of MinRes’ convertible note and LieNA® R&D
tax incentive rebates. To allow Stage 1A Activities to be completed, MinRes and Livium have executed necessary
variations to the JDA including extending the maturity date of the Convertible Note Deed to 30 September 2025,
from its original date of 31 January 2025.
On successful completion of the Stage 1A Activities, MinRes’ convertible note will convert into equity in a new joint
venture (“JV”) between MinRes and Livium, with each holding a 50% interest in the JV entity, LieNA Pty Ltd, which
owns the LieNA® technology. LieNA Pty Ltd is currently a wholly owned subsidiary of Livium.
If the Stage 1A Activities are not completed successfully and MinRes elects not to convert to equity, then the JV
entity will pay MinRes 50% of the value of the LieNA® technology (as agreed or otherwise determined by an expert)
as repayment of the purchase price under the convertible note. The JV plans to license the LieNA® technology to
third parties at a target headline gross product royalty rate of 8% 10. The royalty model materially expands Livium’s
addressable market as it has the potential to capture a fee on all tonnage processed via any mine utilising the
LieNA® technology.
8
See ASX announcement, ‘Livium completes activities under JDA with Mineral Resources’, 17 December 2024
See ASX announcement, ‘Livium and Mineral Resources agree next steps for LieNA® commercialisation pathway’, 13 January 2025
10
The Company cautions that although it considers this to be a reasonable expectation, there is no guarantee that this rate will be achieved
9
Divisions of Livium
Page 3 of 6
Livium Ltd
Unit 1, 79-83 High Street
ASX: LIT ACN: 126 129 413
Kew, Victoria 3101
Investorhub.liviumcorp.com
T: +61 (0) 3 7017 2656
liviumcorp.com
E: info@liviumcorp.com
ASX ANNOUNCEMENT
BATTERY MATERIAL (LFP) PREFERRED PATHWAY DEFINED
During the quarter, the Company provided an update on the development strategy for its Battery Materials
division, VSPC, as it progresses towards commercialisation 11. Following a detailed assessment of development
pathways, the Company has selected Australia as its preferred location for establishing a demonstration plant
following internal risk assessments and customer engagement. Two key factors of the assessment related to the
expected availability of Australian government funding coupled with the requirement to build a larger offshore
plant, which introduces higher risks.
The proposed development pathway includes the construction of a demonstration plant capable of continuous
operation to produce both lithium ferro phosphate (“LFP”), and the emerging lithium manganese ferro phosphate
(“LMFP”). The small-scale demonstration plant is capital efficient and allows sample sizes in line with customer’s
product qualification requirements, which will facilitate the securing of binding offtake for VSPC products. With
binding offtake expected from this development, the demonstration plant serves as a critical stepping stone
toward the establishment of a full-scale production facility with an expected capacity of 25,000 tpa of LFP or
LMFP. A 25,000 tpa production facility has the potential to generate annual revenues of ~US$319m, assuming an
LFP price of ~US$12.75/kg12.
The Company has continued to evolve its VSPC product suite and has recently added new offerings in line with
market demand and with the potential for reduced production costs. The demonstration plant will have capability
to produce these new product offerings without significant change to the prior designs.
Livium’s preferred funding pathway seeks to eliminate reliance on shareholder contributions, whilst maximising
value creation for stakeholders. To achieve this the Company is pursuing non-dilutive government funding
combined with private strategic partners, who will invest directly into VSPC. Progress has been made to fund the
development and operation of the demonstration plant.
INTELLECTUAL PROPERTY UPDATE
During the quarter, the United States Patent and Trademark Office (USPTO) granted patent PCT/AU2019/050540
(‘Process for recovering lithium values’) related to the Company’s lithium phosphate precipitation and refining
technology, that is also applicable to the LieNA® process.
CORPORATE UPDATE
During the quarter, the Company’s name changed from Lithium Australia Limited to Livium Ltd reflecting the final
step in our shift from mining to critical materials in the battery industry. ‘Liv’ connotes life, further reinforcing our
commitment to a better life for all. A promise which is positive, optimistic, enabling and purposeful. Built for today’s
increasingly environmentally conscious and activated marketplace. Whilst ‘ium’ represents both our core capability
- Lithium, as well as being aligned to the word continuum. Which speaks to our dedication to delivering a truly
sustainable circular economy.
As at 31 December 2024, the Company held cash and listed investments of A$5.6m. During the quarter, ~A$0.9m
in cash was received in R&D Tax Credits with a further ~A$0.8m received subsequent to the quarter13.
During the quarter, Livium completed the sale of its remaining 30% interest in the Bynoe Lithium Project for A$0.5m
to Charger Metals NL14.
Subsequent to the quarter, Mr George Bauk resigned as Non-Executive Chair to pursue a new executive role 15.
Non-Executive Director Phil Thick has assumed the role of acting Chair in the interim as the Board considers the
required future skills and composition.
11
See ASX announcement, ‘Livium provides update on Battery Materials (VSPC) development strategy’, 18 December 2024
Avenira Limited (ASX; AEV) Announcement (Scoping Study, 2 March 2023), Ave. LFP Basket
13
See ASX announcement, ‘Livium receives A$1.7 million in R&D tax incentive rebates’, 9 January 2025
14
See ASX announcement, ‘Livium completes sale of Bynoe Lithium Project interest’, 18 November 2024
15
See ASX announcement, ‘Non-Executive Chair Resignation’, 6 January 2025
12
Divisions of Livium
Page 4 of 6
Livium Ltd
Unit 1, 79-83 High Street
ASX: LIT ACN: 126 129 413
Kew, Victoria 3101
Investorhub.liviumcorp.com
T: +61 (0) 3 7017 2656
liviumcorp.com
E: info@liviumcorp.com
ASX ANNOUNCEMENT
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (“ESG”)
The Company is committed to ESG compliance.
Refer to Appendix 1 for further details of ESG metrics.
Authorised for release by the Board.
Simon Linge
Stuart Tarrant
Managing Director / CEO
Mobile +61 (0) 438 721 280
Chief Financial Officer
Mobile +61 (0) 467 817 005
simon.linge@liviumcorp.com
stuart.tarrant@liviumcorp.com
Forward-looking statements
This announcement contains forward-looking statements. Forward-looking statements are subject to a variety of
risks and uncertainties that it is beyond the Company’s ability to control or predict and which could cause actual
events or results to differ materially from those anticipated in such forward-looking statements. Investors should
be aware that past performance should not be relied upon as being indicative of future performance.
About Livium
Livium (previously Lithium Australia) is aiming to lead and enable the global transition to sustainable lithium
production. The Company operates Australia’s market leading battery recycler, produces critical battery material
lithium ferro phosphate (LFP), and has developed a patented lithium extraction technology (LieNA®). Livium’s
revenue-generating recycling business and technologies are well-placed to capitalise on growing global lithiumion battery demand and provides diversification benefits to global supply chains.
Divisions of Livium
Page 5 of 6
Livium Ltd
Unit 1, 79-83 High Street
ASX: LIT ACN: 126 129 413
Kew, Victoria 3101
Investorhub.liviumcorp.com
T: +61 (0) 3 7017 2656
liviumcorp.com
E: info@liviumcorp.com
ASX ANNOUNCEMENT
Appendix 1 – Additional information
Key ESG metrics
Pillars
Items
#
People
Year to date lost time injury incidents
0
People
Current agreements with First Nations Peoples
0
Environment
Outstanding closure matters at quarter end
116
Corporate governance
Year to date bribery and/ or corruption incidents
0
Director’s corporate governance committee roles
Non-Executive
Director
Committee role
George Bauk
Member of Remuneration & Nominations Committee
Member of the Audit & Risk Committee
Phil Thick
Chair of Remuneration & Nominations Committee
Member of the Audit & Risk Committee
Kristie Young
Chair of the Audit & Risk Committee
Member of Remuneration & Nominations Committee
Payments to related parties of the entity and their associates
In accordance with ASX Listing Rule 4.7C.3, payments made during the quarter and included in items 6.1 and 6.2
of ASX Appendix 4C – ‘Quarterly cash flow report for entities subject to Listing Rule 4.7B ' – comprise the
following.
6.1 Aggregate amount of payments to related parties and their associates included in cash flows from
operating activities
A$169,000
This includes payments of directors’ remuneration for services to the economic entity
A$169,000
Payment to directors’ associates for services provided to the economic entity
A$nil
Securities on issue as at the end of the quarter
Class
Number
Quoted
Ordinary shares (ASX: LIT)
1,340,010,927
Options exercisable at $0.0499 expiring 28-Feb-2025 (ASX: LITOA)
61,705,490
Options exercisable at $0.10 expiring 19-Oct-2025 (ASX: LITOB)
139,329,261
Unquoted
16
Performance Rights (various expiry dates)
149,870,000
Options exercisable at $0.031 expiring 24-Jul-2028 (LITAE)
39,000,000
Options exercisable at $nil expiring 31-Dec-2028 (LITAZ)
6,357,905
Relates to the Ravensthorpe rehabilitation
Divisions of Livium
Page 6 of 6
Livium Ltd
Unit 1, 79-83 High Street
ASX: LIT ACN: 126 129 413
Kew, Victoria 3101
Investorhub.liviumcorp.com
T: +61 (0) 3 7017 2656
liviumcorp.com
E: info@liviumcorp.com
Rule 4.7B
Appendix 4C
Quarterly cash flow report for entities
subject to Listing Rule 4.7B
Name of entity
Livium Ltd
ABN
Quarter ended (“current quarter”)
29 126 129 413
31 December 2024
Consolidated statement of cash flows
1.
Cash flows from operating activities
1.1
Receipts from customers
1.2
Payments for
Current quarter
$A’000
Year to date
(6 months)
$A’000
2,028
4,366
(a) research and development
(476)
(964)
(b) product manufacturing and operating
costs
(582)
(1,643)
(c) advertising and marketing
(243)
(456)
-
-
(1,897)
(3,744)
(313)
(803)
-
-
(d) leased assets
(e) staff costs
(f)
administration and corporate costs
1.3
Dividends received (see note 3)
1.4
Interest received
32
56
1.5
Interest and other costs of finance paid
(17)
(28)
1.6
Income taxes paid
-
-
1.7
Government grants and tax incentives
912
995
1.8
Other (provide details if material)
-
-
1.9
Net cash from / (used in) operating
activities
(556)
(2,221)
2.
Cash flows from investing activities
2.1
Payments to acquire or for:
(a) entities
-
-
(b) businesses
-
-
(120)
(272)
(d) investments
-
(20)
(e) intellectual property
-
-
(c) property, plant and equipment
ASX Listing Rules Appendix 4C (17/07/20)
+ See chapter 19 of the ASX Listing Rules for defined terms.
Page 1
Appendix 4C
Quarterly cash flow report for entities subject to Listing Rule 4.7B
Consolidated statement of cash flows
(f)
2.2
other non-current assets
Current quarter
$A’000
Year to date
(6 months)
$A’000
(660)
(1,954)
(a) entities
-
-
(b) businesses
-
-
(c) property, plant and equipment
2
47
744
744
(e) intellectual property
-
-
(f)
-
-
Proceeds from disposal of:
(d) investments
other non-current assets
2.3
Cash flows from loans to other entities
-
-
2.4
Dividends received (see note 3)
-
-
2.5
Other (provide details if material)
-
-
2.6
Net cash from / (used in) investing
activities
(34)
(1,455)
3.
Cash flows from financing activities
3.1
Proceeds from issues of equity securities
(excluding convertible debt securities)
400
3,371
3.2
Proceeds from issue of convertible debt
securities
-
1,214
3.3
Proceeds from exercise of options
-
-
3.4
Transaction costs related to issues of
equity securities or convertible debt
securities
(14)
(224)
3.5
Proceeds from Borrowing
-
-
3.6
Repayment of borrowings
(173)
(362)
3.7
Transaction costs related to loans and
borrowings
-
-
3.8
Dividends paid
-
-
3.9
Payments for lease liabilities
-
-
3.10
Net cash from / (used in) financing
activities
213
3,999
4.
Net increase / (decrease) in cash and
cash equivalents for the period
4.1
Cash and cash equivalents at beginning of
period
5,441
4,749
4.2
Net cash from / (used in) operating
activities (item 1.9 above)
(556)
(2,221)
4.3
Net cash from / (used in) investing activities
(item 2.6 above)
(34)
(1,455)
ASX Listing Rules Appendix 4C (17/07/20)
+ See chapter 19 of the ASX Listing Rules for defined terms.
Page 2
Appendix 4C
Quarterly cash flow report for entities subject to Listing Rule 4.7B
Consolidated statement of cash flows
Current quarter
$A’000
Year to date
(6 months)
$A’000
4.4
Net cash from / (used in) financing activities
(item 3.10 above)
213
3,999
4.5
Effect of movement in exchange rates on
cash held
20
12
4.6
Cash and cash equivalents at end of
period
5,084
5,084
5.
Reconciliation of cash and cash
equivalents
Current quarter
$A’000
Previous quarter
$A’000
at the end of the quarter (as shown in the
consolidated statement of cash flows) to the
related items in the accounts
5.1
Bank balances
5,084
5,441
5.2
Call deposits
-
-
5.3
Bank overdrafts
-
-
5.4
Other (provide details)
-
-
5.5
Cash and cash equivalents at end of
quarter (should equal item 4.6 above)
5,084
5,441
6.
Payments to related parties of the entity and their
associates
6.1
Aggregate amount of payments to related parties and their
associates included in item 1
169
6.2
Aggregate amount of payments to related parties and their
associates included in item 2
-
Current quarter
$A'000
Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an
explanation for, such payments.
ASX Listing Rules Appendix 4C (17/07/20)
+ See chapter 19 of the ASX Listing Rules for defined terms.
Page 3
Appendix 4C
Quarterly cash flow report for entities subject to Listing Rule 4.7B
7.
Financing facilities
Note: the term “facility’ includes all forms of financing
arrangements available to the entity.
Add notes as necessary for an understanding of the
sources of finance available to the entity.
Total facility
amount at quarter
end
$A’000
Amount drawn at
quarter end
$A’000
7.1
Loan facilities
-
-
7.2
Credit standby arrangements
-
-
7.3
Other (Convertible Notes)
4,500
4,219
7.4
Total financing facilities
4,500
4,219
7.5
Unused financing facilities available at quarter end
7.6
Include in the box below a description of each facility above, including the lender, interest
rate, maturity date and whether it is secured or unsecured. If any additional financing
facilities have been entered into or are proposed to be entered into after quarter end,
include a note providing details of those facilities as well.
Other Facilities
$4,500,000.00 Convertible Notes
281
On 4 August 2023, the Group entered into a convertible note deed (“Deed’) with ASX-listed
mining company Mineral Resources Ltd (“MinRes”) in accordance with a joint development
agreement for disruptive lithium extraction technology LieNA®, executed on the same date.
On 10 January 2025, the parties signed a variation in relation to the Deed which included
an extension of the maturity date to 30 September 2025.
Issuer: LieNA Pty Limited, a wholly owned subsidiary the Company.
Investor: Lithium Resources Investments Pty Ltd, a wholly owned subsidiary of Mineral
Resources Ltd.
Use of Funds: Development and operation of a pilot plant, successful refinement of lithium
phosphate and completion of a demonstration plant engineering study (“Stage 1 Activities”)
and an assessment of alternate commercialisation pathways for LieNA®, and selection of
the preferred lithium product for the LieNA® development, including the potential to produce
a battery grade lithium carbonate (“Stage 1A Activities”).
Interest Rate: Nil%.
Maturity Date: 30 September 2025.
Face Value: $1.00 per Convertible Note.
Security: Each Note is an unsecured obligation of LieNA Pty Limited.
Conversion Rights: Prior to maturity date, the Investor may elect to convert the notes at the
earlier of full drawdown of $4,500,000 or the project meeting specified milestones.
Conversion Effect: Upon conversion, the full $4,500,000 converts into 50% of the shares on
issue in LieNA Pty Limited at the date of the conversion notice.
$A’000
8.
Estimated cash available for future operating activities
8.1
Net cash from / (used in) operating activities (item 1.9)
(556)
8.2
Cash and cash equivalents at quarter end (item 4.6)
5,084
8.3
Unused finance facilities available at quarter end (item 7.5)
8.4
Total available funding (item 8.2 + item 8.3)
8.5
Estimated quarters of funding available (item 8.4 divided by
item 8.1)
281
5,365
9.7
Note: if the entity has reported positive net operating cash flows in item 1.9, answer item 8.5 as “N/A”. Otherwise, a
figure for the estimated quarters of funding available must be included in item 8.5.
ASX Listing Rules Appendix 4C (17/07/20)
+ See chapter 19 of the ASX Listing Rules for defined terms.
Page 4
Appendix 4C
Quarterly cash flow report for entities subject to Listing Rule 4.7B
8.6
If item 8.5 is less than 2 quarters, please provide answers to the following questions:
8.6.1
Does the entity expect that it will continue to have the current level of net operating
cash flows for the time being and, if not, why not?
Answer: N/A
8.6.2
Has the entity taken any steps, or does it propose to take any steps, to raise further
cash to fund its operations and, if so, what are those steps and how likely does it
believe that they will be successful?
Answer: N/A
8.6.3
Does the entity expect to be able to continue its operations and to meet its business
objectives and, if so, on what basis?
Answer: N/A
Note: where item 8.5 is less than 2 quarters, all of questions 8.6.1, 8.6.2 and 8.6.3 above must be answered.
Compliance statement
1
This statement has been prepared in accordance with accounting standards and policies
which comply with Listing Rule 19.11A.
2
This statement gives a true and fair view of the matters disclosed.
Date:
29 January 2025
Authorised by: “By the Board”
(Name of body or officer authorising release – see note 4)
Notes
1.
This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the
entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An
entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is
encouraged to do so.
2.
If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions
in, and provisions of, AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been
prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the
corresponding equivalent standard applies to this report.
3.
Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities,
depending on the accounting policy of the entity.
4.
If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”.
If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the
[name of board committee – eg Audit and Risk Committee]”. If it has been authorised for release to the market by a
disclosure committee, you can insert here: “By the Disclosure Committee”.
5.
If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as
complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and
Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial
records of the entity have been properly maintained, that this report complies with the appropriate accounting standards
and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a
sound system of risk management and internal control which is operating effectively.
ASX Listing Rules Appendix 4C (17/07/20)
+ See chapter 19 of the ASX Listing Rules for defined terms.
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