b'Centaurus Metals Limited and its controlled entities Financial Report 31 December 2024Notes to the Consolidated Financial Statements For the year ended 31 December 2024 Note 1.Reporting Entity Centaurus Metals Limited (the Company) is a company domiciled in Australia. The Companys registered office is at Level 2, 23 Ventnor Avenue, West Perth WA 6005.The consolidated financial statements of the Company as at and for the year ended 31 December 2024 comprise the Company and its subsidiaries (collectively the Group and individually Group entities). The Group is a for-profit entity and is primarily involved in exploration for and evaluation of mineral resources. Note 2.Basis of Preparation 2.1Statement of Compliance The consolidated financial statements are general purpose financial statements which have been prepared in accordance with Australian Accounting Standards (AASBs) (including Australian Accounting Interpretations) adopted by the Australian Accounting Standards Board (AASB) and the Corporations Act 2001.The consolidated financial statements comply with International Financial Reporting Standards (IFRSs) adopted by the International Accounting Standards Board (IASB). The consolidated financial statements were authorised for issue by the Board of Directors on 24 March 2025. 2.2Basis of Measurement The consolidated financial statements have been prepared on the historical cost basis, except for share based payments which are measured at fair value in the statement of financial position. 2.3Going Concern The financial statements for the year ended 31 December 2024 have been prepared on a going concern basis, which contemplates continuity of normal business activities and the realisation of assets and settlement of liabilities in the ordinary course of business.During the year, the Group incurred a loss after tax of $18,445,636 with net cash outflows of $16,009,557. The Group has a working capital surplus of $15,095,173. While the Group had cash on hand of $18,043,388 as at 31 December 2024, the Group is likely to need additional working capital in order to meet the Groups stated strategic objectives. Whilst there is no certainty that additional funding will be available to provide adequate working capital for the Group to achieve its planned objectives, the Directors believe that the Group will be able to secure funding based on the Companys historical success of raising capital. The form, value and timing of any future transactions that may provide funding is yet to be determined and will depend amongst other things, on capital markets, commodity prices and the outcome of planned exploration and evaluation activities. The Directors have a reasonable expectation that further funding will be obtained to meet the Groups objectives. In addition, the Directors have considered the minimum expenditure requirements necessary in order to maintain tenements in good standing and to meet committed expenditures for the 12 month period from the date of this report and consider the going concern basis of preparation to be appropriate. In undertaking this analysis, the Directors have considered which expenditure can be reduced if necessary. Note 3.Functional and Presentation Currency These consolidated financial statements are presented in Australian Dollars, which is the Companys functional currency. The functional currency of the Brazilian subsidiaries is the Brazilian Real. Note 4.Use of Judgements and Estimates In preparing these consolidated financial statements, management has made judgements, estimates and assumptions that affect the application of the Groups accounting policies and the reported amounts of assets, liabilities, income and expenses.Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis.Revisions to accounting estimates are recognised in the period in which the estimates are revised and in any future periods affected. Page 32 of 60CENTAURUS METALS LIMITED ANNUAL REPORT 57'