b'Centaurus Metals Limited and its controlled entities Financial Report 31 December 202421.3Share-based Payments Reserve The share-based payments reserve is used to recognise the fair value of options issued but not exercised. 21.4Translation Reserve The translation reserve comprises all foreign currency differences arising from the translation of the financial statements of foreign operations, as well as from the translation of liabilities that hedge the Groups net investment in a foreign subsidiary. Note 22.Contingent Liabilities 22.1Guarantees The Company has given guarantees in respect of bank security bonds amounting to $200,452 (2023: $122,519), secured by cash deposits lodged as security with the bank. 22.2Jaguar Project Acquisition The terms of the Jaguar Sale and Purchase Agreement (as amended by the acquisition of the offtake rights by the Company in June 2023) with Vale give rise to the following contingent liabilities related to the Jaguar Project Acquisition. 4US$5.0 million on first commercial production from the project payable to Vale; 4a royalty of 1.75% on Net Operating Revenue for nickel sulphate or 2.00% on Net Operating Revenue generated from any future concentrate production from the project payable to Vale; and 4a royalty of 1.8% on Net Operating Revenue generated from any future concentrate production from the project payable to BNDES.No material losses are anticipated in respect of any of the above contingent liabilities. There are no other contingent liabilities that require disclosure. 22.3Jaguar Installation LicenseDuring the year the Company lodged the application for the Installation License for the Jaguar project with the Par State Environmental Agency, SEMAS. The lodgement of the application gives rise to a contingent liability of up to A$1.93m for environmental compensation associated with the construction of the project. The obligation for compensation will be created post the approval of the LI and the establishment of an agreed program and timing of works to be carried out. Note 23.Capital CommitmentsThe Group has no capital commitments as at the year ended 31 December 2024 (2023: $nil). Note 24.Related Parties24.1Key Management Personnel KMP compensation is comprised of the following: 2024 $2023 $ Short term employee benets (Salaries and STI)2,655,7072,830,382 Long term employee benets971,546513,721 Post employment benets115,124109,056 Share based payments expense927,362967,341 4,669,7394,420,500 24.2Individual Directors and Executives Compensation Disclosures Information regarding individual directors and executives compensation and equity instruments disclosures as required by Corporations Regulation 2M.3.03 is provided in the Remuneration Report section of the Directors Report. 24.3Key Management Personnel and Director Transactions A member of KMP, or their related parties, held positions in other entities that resulted in them having control or significant influence over the financial or operating policies of these entities.This entity transacted with the Group in the reporting period. The terms and conditions of the transactions with key management personnel and their related parties were no Page 48 of 60CENTAURUS METALS LIMITED ANNUAL REPORT 73'