b'Centaurus Metals Limited and its controlled entitiesCentaurus Metals Limited and its controlled entities CENTAURUS METALS ANNUAL REPORT 2024Financial Report 31 December 2024Financial Report 31 December 2024more favourable than those available, or which might reasonably be expected to be available, on similar transactions toOther receivables also include refundable deposits and tax credits which include Brazilian federal VAT (PIS-Cofins). The non-key management personnel related entities on an arms length basis.recoverability of PIS-Cofins assets is dependent upon the Group generating a federal company tax liability, which may be The aggregate value of transactions and outstanding balances relating to key management personnel and entities overoffset against the Groups PIS-Cofins assets. As at 31 December 2024, the PIS-Cofins tax asset has been fully impaired as which they have control or significant influence were as follows:taxable profits in the ordinary course of business are not considered probable though one-off taxable profits may be generated on specific transactions. The Groups maximum exposure to credit risk for other receivables at the reporting date Transaction ValueBalance Outstandingby geographic region was: Transaction2024 $2023 $2024 $2023 $Carrying Amount Legal fees(1)58,03874,053-11,0822024 $2023 $ Technical Consul]ng(2)55,00035,00010,000-Australia 241,1101,562,251 (1)the Group used the legal services of its director related entities for general advice. Amounts were billed based on market ratesBrazil96,410161,922 for such services and were due and payable under normal payment terms. 337,5201,724,173 (2)the Group obtained technical consulting services from Vintage 94 Pty Ltd, a company controlled by a director. Amounts were billed based on market rates for such services and were due and payable under normal payment terms. These balances are net of provision for impairment (refer Note 15). 24.4Transactions with Related Parties25.2Liquidity Risk Transactions between the parent company and its subsidiaries which are related parties of that company are eliminated onLiquidity risk is the risk that the Group will encounter difficulty in meeting the obligations associated with the financial consolidation and are not disclosed in this note.liabilities that are settled by delivering cash or another financial asset. Note 25.Financial InstrumentsFair Values and Risk ManagementThe Groups approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking 25.1Financial Risk Managementdamage to the Groups reputation. The Group has exposure to the following risks arising from the use of financial instruments:As at 31 December 2024, the Group has current trade and other payables of $2,372,115 (31 December 2023: $3,351,700), 4Credit RiskCurrent Financial Liabilities of $nil (31 December 2023: $212,028), current lease liabilities of $150,940 (31 December 2023: 4Liquidity Risk$239,075) and non current lease liabilities of $498,534 (31 December 2023: $267,979).The Group believes it will have 4Market Risksufficient cash resources to meet its financial liabilities when due. 4Currency Risk. The following table shows the contractual maturities of financial liabilities, excluding the impact of netting agreements. It is This note presents information about the Groups exposure to each of the above risks, their objectives, policies andnot expected that the cash flows included in the maturity analysis could occur significantly earlier, or at significantly different processes for measuring and managing risk, and their management of capital.Further quantitative disclosures are includedamounts. throughout these consolidated financial statements.Maturity 6 a)Risk Management FrameworkCarryingContractualMaturity 6to 12Maturity 1Maturity 2 amountcash flowsmths or lessmonthsto 2 yearsto 5 years The Board of Directors has overall responsibility for the establishment and oversight of the Groups risk management2024 Financial Liabilities$$$$$$ framework.Trade and other payables2,372,1152,372,1152,372,115- Risk management policies are established to identify and analyse the risks faced by the Group, to set appropriate risk limitsLease liabili]es649,474765,600122,827101,829208,540332,404 and controls, and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to3,021,5893,137,7152,494,942101,829208,540332,404 reflect changes in market conditions and the Groups activities.The Group, through its training and management standards and procedures, aims to develop a disciplined and constructive control environment in which all employees understand their role and obligations and are able to identify and manage business risks.Maturity 6 b)Credit RiskCarryingContractualMaturity 6to 12Maturity 1Maturity 2 Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to meet itsamountcash flowsmths or lessmonthsto 2 yearsto 5 years contractual obligations and arises principally from the Groups other receivables and investment securities. 2023 Financial Liabilities$$$$$$ Trade and other payables3,351,7003,351,7003,351,700- The Groups exposure to credit risk is influenced mainly by the individual characteristics of each counterparty.However,Financial liabili]es212,028212,882212,882- management also considers the default risk of the industry and country in which counterparties operate, as these factorsLease liabili]es507,054566,803178,85096,790123,699167,464 may have an influence on credit risk.4,070,7824,131,3853,743,43296,790123,699167,464 The carrying amount of the Groups financial assets represents the maximum credit exposure. The Groups maximum25.3Market Risk exposure to credit risk at the reporting date was: 2024 $2023 $Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and equity prices will Cash and cash equivalents(1)18,043,38834,673,852affect the Groups income or the value of its holdings of financial instruments. The objective of market risk management is Other receivables337,5201,724,173to manage and control market risk exposures within acceptable parameters, while optimising returns. 18,380,90836,398,025 (1) Cash and cash equivalents are held with bank and financial institution counterparties, which are rated BB- to AA based on Standard and Poors rating. Page 49 of 60Page 50 of 6074 ANNUAL REPORT CENTAURUS METALS LIMITED'