Announcement PDF Corporate Directory Directors and Company Secretary John Hannaford - Non-Executive Chairman Lachlan Reynolds – Managing Director David Izzard – Non-Executive Director Anthony Hadley – Non-Executive Director Simon Adams - Company Secretary Registered and Principal Office Suite 2, 38 Colin Street West Perth 6005 Western Australia Telephone: +61 8 6391 0112 Internet: www.mtmcriticalmetals.com.au Share Register Automic Group Level 5, 191 St Georges Terrace Perth WA 6000 Phone: 1300 288 664 Web: www.automicgroup.com.au Securities Exchange Listing Australian Securities Exchange Limited Home Branch – Perth Level 40, Central Park 152-158 St George’s Terrace Perth WA 6000 ASX Code MTM - Fully paid ordinary shares Solicitors Hamilton Locke Level 48, 152-158 St George’s Terrace Perth WA 6000 Auditor Hall Chadwick WA Audit Pty Ltd 283 Rokeby Road Subiaco WA 6008 Interim Financial Report 31 December 2023 1 MTM Critical Metals Limited Director’s Report 31 December 2023 The Directors of MTM Critical Metals Limited (the “Company” or “MTM” and reference to MTM Critical Metals Limited and its subsidiaries as the “Group”) present their report on the Company for the period ended 31 December 2023 (“Period”). Directors John Andrew Hannaford – Non-executive Chairman Lachlan John Reynolds – Managing Director David John Izzard – Non-Executive Director Anthony Hadley – Non-Executive Director Review of Operations The principal activities of the Company during the financial period were the exploration of mineral tenements in the Abitibi region of Quebec, Canada and in Eastern Goldfields region of Western Australia. The Company has no reported mineral resources or ore reserves. Pomme REE-Nb Project MTM entered into a binding option agreement with Geomega Resources, Inc. to acquire a 100% interest in the Pomme claims located in Québec, Canada in February 2023. The Pomme Project (27.7km2) is located adjacent to the world-class Montviel REE-Nb deposit (owned by Geomega Resources, Inc.), that has a defined total indicated and inferred resource of 266 million tonnes (Mt) @ 1.45% TREO & 0.14% Nb2O5. In August 2023, the company entered into a second agreement with Geomega Resources, Inc. to acquire the Montviel South Project, also in Québec. The Company is advancing exploration at Pomme to discover a REE-Nb resource. • A program of 13 diamond drill holes for 5,718 metres of drilling was completed in the 6 months to 31 December 2023 at the Pomme Project, to evaluate the overall geology of the carbonatite complex and define the grade and continuity of the rare earth element (REE) and niobium (Nb) mineralisation that it contains. • Visual REE mineralisation was identified in all drill holes, indicating a very large mineralised system within the Pomme carbonatite complex, over a >2km2 area. • Assay results for the drill holes indicated significant total rare earth oxide (TREO) and niobium mineralisation occurs within the carbonatite complex. Broad zones of consistently mineralised rocks extend over intersections greater than 500m downhole. Importantly, these zones contain intervals of higher-grade mineralisation. Assays confirm that a significant proportion of the TREO grade is high value magnet REE mineralisation - neodymium (Nd) and praseodymium (Pr). • MTM subsequently bolstered its portfolio of highly prospective REE-Nb targets in Québec, entering into a second binding option agreement with Geomega Resources Inc. to acquire a 100% interest in the Montviel South Project (11.1 km2). The new project is located 10km south of MTM’s Pomme Project. A program of mapping and geochemical sampling was completed during the reporting period. East Laverton Project The East Laverton Project covers 1,900km2 in the prolific Eastern Goldfields region of Western Australia and hosts an emerging district-scale REE mineralisation opportunity at Point Kidman in the north of the project as well as gold and base metals anomalies at Seahorse in the south. • Preliminary metallurgical test work on composite drilling samples collected from the Point Kidman REE prospect showed that there are significant opportunities to potentially optimise the future processing of the clay-hosted mineralisation. Basic metallurgical tests including analysis of different size fractions and leach tests were completed to evaluate recovery of REEs from widespread clay-hosted mineralisation identified by previous aircore drilling. • A substantial uplift in head grade and rejection of low-grade material was achieved by simple particle size separation. Analysis of the different fraction sizes show that removal of coarse size particles substantial increases in TREE grades, with the average grade generally increasing in progressively finer particle sizes. • Metallurgical test work results have shown that the majority of mineralisation is not associated with ionic clays. The REE’s are instead likely contained within ultrafine REE particles, oxidised rare earth carbonate or rare earth oxide minerals. Recovery of these REE’s can be achieved via acid leaching, requiring higher acid concentrations. These results are comparable with the majority of known REE clays projects in Western Australia. Interim Financial Report 31 December 2023 2 MTM Critical Metals Limited Director’s Report 31 December 2023 Mt Monger Project The Mt Monger Gold Project is centred approximately 45km east-northeast of Kambalda and 70km to the southeast of Kalgoorlie-Boulder, within the Goldfields Region of Western Australia. The project comprises exploration tenements covering an area of about 80km2 and is prospective for gold mineralisation. • No fieldwork was completed at the Mt Monger project during the reporting period. The Company is assessing strategic options for this project. Ravensthorpe Project The Ravensthorpe Project covers a number of exploration licences in Western Australia’s Albany-Fraser Orogen and is prospective for a suite of battery metals, including lithium, graphite, nickel-copper-PGE, REE and gold mineralisation. There are numerous active mining operations, project developments and exploration projects in the region. • No fieldwork was completed at the Ravensthorpe project during the reporting period. The Company completed a strategic review of the project and is currently undertaking a process to divest its exploration licences in the project areas in order to focus on higher priority exploration project held by the Company. Flash Metals Acquisition In December 2023, MTM announced it had entered into a binding agreement to acquire 100% of Flash Metals Pty Ltd, the beneficial owner of exploration licenses prospective for niobium (Nb) and rare earth elements (REE) in the West Arunta and South West (Mukinbudin) regions of Western Australia. • Covering around 140km2, the three granted West Arunta Nb-REE licences are located immediately adjacent to tenements held by WA1 Resources Limited and Encounter Resources Limited where niobium-REE mineralised carbonatites have recently been discovered. • The Flash transaction also includes the acquisition of the Mukinbudin Nb-REE Project, comprising of two exploration licences (approx. 74km2) located 250km northeast of Perth in the South West Mineral Field of Western Australia. REE mineralisation has been locally reported by other explorers in the region. • As part of the Flash Metals transaction, MTM will acquire an option to licence a processing and recycling technology for REE and other critical minerals known as Flash Joule Heating (FJH), which has been developed by researchers at Rice University in the USA. Corporate Activities: The company raise $1 million (before costs) through the issue of a convertible note during the period. The convertible note will be converted to equity at a price that is a 20% discount to the next capital raise (refer to subsequent events). Corporate and Financial Position The Company’s net loss from operations for the 6-month period to 31 December 2023 was $1,643,580 (6 months to December 2022 - $920,908 loss). At 31 December 2023, the Group had net assets of $6,824,302 (31 December 2022 - $8,520,246) with cash reserves of $494,948 (2022 - $2,563,066). The Directors believe there are sufficient funds to meet the Company’s working capital requirements and as at the date of this report the Company believes it can meet all liabilities as and when they fall due. This report is prepared on the going concern basis which assumes the continuity of normal business activity and the realisation of assets and settlement of liabilities in the normal course of business. The Directors have reviewed the business outlook and the assets and liabilities of the Company and are of the opinion that the going concern basis of accounting is appropriate as they believe the Company will continue to be successful in securing additional funds through equity issues as and when the need to raise funds arises. Business Strategies and Prospects The Company currently has the following business strategies and prospects over the medium to long term: (i) (ii) (iii) Seek to maximise the value through successful exploration activities; Selectively expand the Company’s portfolio of exploration assets; and Examine other new business development opportunities in the mining and resources sector. Interim Financial Report 31 December 2023 3 MTM Critical Metals Limited Director’s Report 31 December 2023 Matters subsequent to the end of the financial period Subsequent to the period end, the company announced that it would raise $7 million of capital by way of a placement ($5 million) and rights issue ($2 million). Tranche 1 of the placement ($1.6 million) was completed in January. The balance of the placement funds were being issued in a second Tranche that was subject to shareholder approval at a meeting on 14 March 2024. The rights issue offer was withdrawn on 8 March 2024. At a general meeting held on 14 March 2024, shareholders approved the issue of consideration securities that related to the acquisition of Flash Metals Pty Ltd. John Hannaford Chairman 15 March 2024 Interim Financial Report 31 December 2023 4 MTM Critical Metals Limited Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income For the Six-Month Period Ended 31 December 2023 Note Other income Administration services E&E not capitalised Interest Employee expenses Finance costs of convertible note Share based payments Loss from continuing operations before income tax expense Income tax expense Loss from continuing operations Loss for the period Other comprehensive income Comprehensive loss attributable to Shareholders of the Company Non-controlling Interest Total comprehensive loss for the year Basic and diluted loss per share (cents per share) for continuing operations attributable to the shareholders of the Company Basic and diluted loss per share (cents per share) attributable to the shareholders of the Company 8.3 5.1.1 31-Dec-23 $ 31-Dec-22 $ 9,042 6,496 (383,865) (908,208) (677) (282,097) (51,917) (25,858) (1,643,580) (1,643,580) (1,643,580) (325,910) (311,326) (2,158) (241,344) (46,666) (920,908) (920,908) (920,908) (1,633,642) (9,938) (1,643,580) (920,908) (920,908) (1.66) (1.89) (1.66) (1.89) The above condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income should be read in conjunction with the accompanying notes. Interim Financial Report 31 December 2023 5 MTM Critical Metals Limited Condensed Consolidated Statement of Financial Position As at 31 December 2023 Note Assets Current assets Cash and cash equivalents Trade and other receivables Prepayments Total current assets Non-current assets Exploration and evaluation expenditure Property, plant and equipment Right-of-use asset Total non-current assets Total assets Liabilities Current liabilities Trade & other payables Lease liability Convertible Notes Derivative liability – convertible note Total current liabilities Non-current liabilities Lease liability Total non-current liabilities Total liabilities Net assets 2.1 30-Jun-23 $ 494,948 228,464 122,845 846,257 2,563,066 36,432 157,953 2,757,451 3 7,311,624 18,318 8,494 7,338,436 8,184,693 6,126,419 24,847 12,704 6,163,969 8,921,420 2.3 360,563 9,411 740,417 250,000 1,360,391 387,441 11,103 398,544 1,360,391 6,824,302 2,631 2,631 401,174 8,520,246 11,750,127 697,858 (5,543,188) (103,222) 6,801,575 22,727 11,656,127 741,000 (3,909,546) 8,487,581 32,665 6,824,302 8,520,246 2.2 8.3 8.4 Equity Share capital Reserves Accumulated loss Currency Translation Reserve Total equity attributable to shareholders of the Company Non-Controlling Interest Total equity attributable to shareholders of the Company and non-controlling interest 31-Dec-23 $ 4 5 The above condensed Consolidated Statement of Financial Position should be read in conjunction with the accompanying notes. Interim Financial Report 31 December 2023 6 MTM Critical Metals Limited Condensed Consolidated Statement of Changes in Equity For the Six-Month Period Ended 31 December 2023 Note At 1 July 2023 Loss for the year Total comprehensive loss for the year Transactions with owners in their capacity as owners: Issue of new shares net of cost Performance rights exercised Share-based payments Foreign Currency Reserve 4.1 At 31 December 2023 At 1 July 2022 Loss for 6 months to 31 December 2022 Total comprehensive loss for the year Transactions with owners in their capacity as owners: Issue of new shares net of cost Share-based payments At 31 December 2022 Interim Financial Report 31 December 2023 Contributed equity $ 11,656,127 Accumulated losses $ (3,909,546) Share-Based Payments Reserve $ Currency Translation Reserve $ Non-Controlling Interest $ 741,000 - 32,665 8,520,246 Total equity $ - (1,633,642) - - (9,938) (1,643,580) - (1,633,642) - - (9,938) (1,643,580) 94,000 - - - - 94,000 11,750,127 (5,543,188) (69,000) 25,858 (43,142) 697,858 (103,222) (103,222) (103,222) 22,727 94,000 (69,000) 25,858 (103,222) 197,636 6,824,302 6,617,555 - (2,160,265) (920,908) 542,471 - - - (920,908) - 1,773,109 1,773,109 8,390,664 (3,081,173) 96,487 96,487 638,958 7 32,665 - 5,032,426 (920,908) - - (920,908) - 32,665 1,773,109 96,487 1,869,596 5,981,114 MTM Critical Metals Limited Condensed Consolidated Statement of Cash Flows For the Six-Month Period Ended 31 December 2023 Note Cash flows from operating activities Proceeds from cost reimbursement Payments to suppliers and employees Net cash outflow from operating activities Cash flows from investing activities Interest Received Payments for exploration and evaluation expenditure Payments for acquisition of property plant and equipment Net cash outflow from investing activities Cash flows from financing activities Net proceeds from issue of shares Net proceeds from issue of convertible notes Net cash inflow from financing activities Cash and cash equivalents at the beginning of the period Net increase/ (decrease) in cash and cash equivalents Cash and cash equivalents at the end of the period 2.1 31-Dec-23 $ 31-Dec-22 $ (920,842) (920,842) 6,496 (521,082) (514,586) 9,042 (2,094,219) (599) (2,085,776) (761,117) (1,566) (762,683) 938,500 938,500 1,822,931 1,822,931 2,563,066 (2,068,118) 494,948 1,398,709 545,662 1,944,371 The above condensed Consolidated Statement of Cash Flows should be read in conjunction with the accompanying notes. Interim Financial Report 31 December 2023 8 MTM Critical Metals Limited Notes to the Condensed Consolidated Financial Statements 1. Basis of preparation The half year report of MTM Critical Metals Limited for the period ended 31 December 2023 was authorised for issue in accordance with a resolution of the directors on 15 March 2024. These interim consolidated financial statements are general purpose financial statements prepared in accordance with the requirements of the Corporations Act 2001, applicable accounting standards including AASB 134 ‘Interim Financial Reporting’, Accounting Interpretations and other authoritative pronouncements of the Australian Accounting Standards Board (‘AASB’). Compliance with AASB 134 ensures compliance with IAS 34 ‘Interim Financial Reporting’. This condensed interim financial report does not include full disclosures of the type normally included in an annual financial report. Therefore, it cannot be expected to provide as full an understanding of the financial performance, financial position and cash flows of the Group as in the full financial report. The interim report has been prepared on a historical cost basis, except for the revaluation of certain financial instruments to fair value. Cost is based on the fair value of the consideration given in exchange for assets. The company is domiciled in Australia and all amounts are presented in Australian dollars, unless otherwise noted. 1.1. Statement of Compliance The interim financial statements comply with Australian Accounting Standards, which include Australian equivalents to International Financial Reporting Standards (AIFRS). Compliance with AIFRS ensures that the financial report, comprising the interim financial statements and notes thereto, complies with International Financial Reporting Standards (IFRS). The following is a summary of the material accounting policies adopted by the entity in the preparation of the financial report. The accounting policies have been consistently applied, unless otherwise stated. The financial report has been prepared on an accruals basis and is based on historical costs modified by the revaluation of selected non-current assets, financial assets and financial liabilities for which the fair value basis of accounting has been applied. 1.2. Basis of Measurement The financial report has been prepared on a historical cost basis. 1.3. Functional and Presentation Currency The financial report is presented in Australian dollars. 1.4. Compliance with IFRS These financial statements comply with Australian Accounting Standards as issued by the Australian Accounting Standards Board and International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board. 1.5. Principles of consolidation The consolidated financial statements incorporate the assets and liabilities of all subsidiaries of MTM Critical Metals Limited (‘company’ or ‘parent entity’) as at 31 December 2023 and the results of all subsidiaries for the period then ended. MTM Critical Metals Limited and its subsidiaries together are referred to in this financial report as the group or the consolidated entity. Subsidiaries are all those entities over which the consolidated entity has control. The consolidated entity controls an entity when the consolidated entity is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the consolidated entity. They are de-consolidated from the date that control ceases. A list of controlled entities is contained in note 6.1.1 to the financial statements. Intercompany transactions, balances and unrealised gains on transactions between group companies are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of the impairment Interim Financial Report 31 December 2023 9 MTM Critical Metals Limited Notes to the Condensed Consolidated Financial Statements of the asset transferred. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. The acquisition of subsidiaries is accounted for using the acquisition method of accounting. A change in ownership interest, without the loss of control, is accounted for as an equity transaction, where the difference between the consideration transferred and the book value of the share of the non-controlling interest acquired is recognised directly in equity attributable to the parent. Non-controlling interest in the results and equity of subsidiaries are shown separately in the statement of profit or loss and other comprehensive income, statement of financial position and statement of changes in equity of the consolidated entity. Losses incurred by the consolidated entity are attributed to the noncontrolling interest in full, even if that results in a deficit balance. Where the consolidated entity loses control over a subsidiary, it derecognises the assets including goodwill, liabilities and non-controlling interest in the subsidiary together with any cumulative translation differences recognised in equity. The consolidated entity recognises the fair value of the consideration received and the fair value of any investment retained together with any gain or loss in profit or loss. 1.6. Going Concern The financial report has been prepared on the going concern basis, which contemplates the continuity of normal business activity and realisation of assets and the settlement of liabilities in the ordinary course of business. The Company incurred a loss for the 6 months to 31 December 2023 of $1,643,580 (31 Dec 2022: $920,908) and net cash outflows from operating activities of $920,842 (31 Dec 2022: $514,586). These conditions indicate a material uncertainty that may cast significant doubt about the ability of the Company to continue as a going concern. In the event the above matters are not achieved, the Company will be required to raise funds for working capital from debt or equity source. The ability of the Company to continue as a going concern is principally dependent upon the ability of the Company to secure funds by raising capital from equity markets and managing cashflow in line with available funds. • The ability of the Company to raise capital as and when necessary, and/or • The ability to defer discretionary operating and capital expenditure in relation to exploration activities; and/or • The successful exploration of the Company’s tenements; and/or • Exploration expenditure will be deployed to targets that have the highest prospectivity for mineral discovery and this expenditure is discretionary. The directors have prepared a cash flow forecast, which indicates that the Company will have sufficient cash flows to meet all commitments and working capital requirements for the 12 month period from the date of signing this financial report. Based on the cash flow forecasts and other factors referred to above, the directors are satisfied that the going concern basis of preparation is appropriate. In particular, given the Company's history of raising capital to date, the directors are confident of the Company's ability to raise additional funds as and when they are required. Should the Company be unable to continue as a going concern, it may be required to realise its assets and extinguish its liabilities other than in the normal course of business and at amounts different to those stated in the financial statements. The financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or to the amount and classification of liabilities that might result should the Company be unable to continue as a going concern and meet its debts as and when they fall due. Interim Financial Report 31 December 2023 10 MTM Critical Metals Limited Notes to the Condensed Consolidated Financial Statements 2. Working Capital Management 2.1. Cash and Cash Equivalents Cash and cash equivalents includes cash on hand, deposits held at call with financial institutions and other short-term highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. For the purposes of the statement of cash flows, cash and cash equivalents consist of cash and cash equivalents as defined above, net of any bank overdrafts. 31 December 2023 $ Cash at bank and in hand 30 June 2023 $ 494,948 2,563,066 31 December 2023 $ 66,740 36,926 15,952 3,227 122,845 30 June 2023 $ 123,232 31,494 3,227 157,953 2.2. Prepayments Prepayments are made up as follows: Tenement Rent Tenement Rates Prepaid Insurance Other Total Prepayments 2.3. Trade and Other Payables Trade and other payables are carried at amortised cost and represent liabilities for the goods and services provided to the Group prior to the end of the financial period that are unpaid and arise when the Group becomes obliged to make future payments in respect of the purchase of these goods and services. The amounts are unsecured and are usually paid within 30 days. 31 December 2023 $ 215,402 68,945 76,216 360,563 Trade payables Accrued expenses Other payables Total trade and other payables 30 June 2023 $ 205,138 140,109 42,193 387,440 3. Exploration & Evaluation Expenditure Exploration and evaluation Opening Balance Movement: Expenditure incurred Acquisition of tenements Impairment Outside Equity interest Closing balance Interim Financial Report 31 December 2023 11 31 Dec 2023 $ 7,311,625 30 Jun 2023 $ 6,126,419 6,126,420 3,851,645 2,038,922 54,491 (898,270) (9,939) 7,311,624 1,652,109 590,000 32,665 6,126,419 MTM Critical Metals Limited Notes to the Condensed Consolidated Financial Statements 4. Share Capital Contributed equity Cost of equity Total share capital 31-Dec-23 No of Shares $ 99,437,091 12,679,474 (929,347) 99,437,091 11,750,127 30-Jun-23 No of Shares $ 98,380,058 12,585,474 (929,347) 98,380,058 11,656,127 Date Issue price $ 4.1. Movement in shares on issue Balance at 30 June 2023 Conversion of performance rights to shares Conversion of performance rights to shares Issue of shares – Acquisition Conversion of performance rights to shares Less: Transaction Costs Balance at 31 December 2023 Number of shares Value $ 29-Aug-2023 98,380,058 200,000 0.120 11,656,127 24,000 25-Sep-2023 300,000 0.110 33,000 03-Oct-2023 13-Dec-2023 457,033 100,000 0.055 0.120 25,000 12,000 99,437,091 - 11,750,127 5. Reserves Founder options (unlisted) Director options (unlisted) Employee options (unlisted) Loyalty options (listed) Capital raising options (listed) Broker Fee options (listed) Employee Performance Rights (listed) Total options 31-Dec-23 No of Shares $ 3,000,000 5,000,000 248,841 2,250,000 249,222 14,316,666 71,582 34,514,209 4,000,000 91,150 500,000 37,063 63,580,875 697,858 30-Jun-23 No of Shares $ 3,000,000 5,000,000 248,841 2,250,000 249,222 14,316,666 71,582 34,514,209 4,000,000 91,150 1,200,000 80,205 64,280,875 741,000 5.1. Share Based Payments 5.1.1. Recognised Share-Based Payments 31-Dec-23 Options issued to directors & management recognised in Profit & Loss Share-based payments recognised in equity Total share-based payments Interim Financial Report 31 December 2023 12 - 30-Jun-23 46,666 25,858 25,858 46,666 MTM Critical Metals Limited Notes to the Condensed Consolidated Financial Statements 6. Group Structure and Segment Information 6.1. Basis of Consolidation 6.1.1.Subsidiaries Subsidiaries are all entities (including structured entities) over which the Group has control. The group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are deconsolidated from the date the control ceases. Investments in subsidiaries are carried at their cost of acquisition in the Company’s financial statements. The consolidated financial statements incorporate the assets, liabilities and results of the following subsidiaries in accordance with the accounting policy described in note 1: Name of entity Country of incorporation Equity holding % Date of incorporation Mt Monger Minerals Pty Ltd Australia 100 04/05/2020 Tigers Paw Prospecting Pty Ltd Australia 100 09/07/2020 Golden Wheelbarrow No 1 Pty Ltd Australia 100 10/06/2020 Golden Wheelbarrow No 2 Pty Ltd Australia 75 17/06/2020 Critical Element Exploration Pty Ltd Australia 100 22/11/2022 MTM Ressources Inc Canada 100 09/04/2023 6.1.2.Transactions eliminated on consolidation Intragroup balances, and any unrealised gains and losses or income and expenses arising from intragroup transactions, are eliminated in preparing the consolidated financial statements. 6.2. Segment information Management has determined the operating segments based on the reports reviewed by the Board of Directors that are used to make strategic decisions. The Group does not have any material operating segments with discrete financial information. The Group has assets and liabilities which are primarily related to the mining industry and are located within Western Australia and Québec, Canada. The Board of Directors review internal management reports on a regular basis that is consistent with the information provided in the statement of profit or loss and other comprehensive income, statement of financial position and statement of cash flows. As a result, a reconciliation of the assets, liabilities and operating costs of the Company across the jurisdictions of Australia and Canada at 31 December 2023 are as follows: Interim Financial Report 31 December 2023 13 MTM Critical Metals Limited Notes to the Condensed Consolidated Financial Statements 6.2. Segment information (Cont) Note Assets Current assets Cash and cash equivalents Trade and other receivables Prepayments Total current assets Non-current assets Exploration and evaluation expenditure Property, plant and equipment Right-of-use asset Total non-current assets Total assets Liabilities Current liabilities Trade & other payables Lease lia