Segment Reporting

6 Months Ended

Jun. 30, 2023

Disclosure of operating segments [abstract]

Note 2 Segment reporting

The Group has identified its operating segments based on the internal reports that are reviewed and used by the Executive Key Management Personnel (Chief Operating Decision Makers or “CODMs”) in assessing performance and determining the allocation of resources. The Group is managed primarily on an operational basis. Operating segments are determined on the basis of financial information reported to the Board.

The CODMs have identified three operating segments being Battery Materials, Battery Technology, and Graphite Exploration. The Battery Materials segment develops and manufactures battery anode materials, and the Battery Technology segment develops battery cell testing equipment, performs consulting services and carries out research and development in battery development (inclusive of cathode technology). The Graphite Exploration segment involves exploration and evaluation activity, as well as maintenance and potential future development of the Mt Dromedary natural graphite deposit.

Basis of accounting for purposes of reporting by operating segments

Accounting policies adopted

Unless stated otherwise, all amounts reported to the CODMs, are determined in accordance with accounting policies that are consistent with those adopted in the annual financial statements of the Group.

Segment assets

Where an asset is used across multiple segments, the asset is allocated to the segment that receives the majority of the economic value from the asset. In most instances, segment assets are clearly identifiable on the basis of their nature and physical location.

Segment liabilities

Liabilities are allocated to segments where there is a direct nexus between the incurrence of the liability and the operations of the segment.

Unallocated items

The following items for revenue, expenses, assets, and liabilities are not allocated to operating segments as they are not considered part of the core operations of any segment:

Interest income

Corporate administrative and other expenses

Income tax expense

Corporate share-based payment expenses

Corporate marketing and project development expenses

Corporate cash and cash equivalents

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE HALF-YEAR ENDED JUNE 30, 2023

Note 2 Segment reporting (continued)

Corporate trade and other payables

Corporate trade and other receivables

Segment performance


(All in US$)
Half-year ended June 30, 2023	Battery Materials	Battery Technology	Graphite Exploration	Unallocated	Total
Segment revenue:
Hardware sales	-	1,411,867	-	-	1,411,867
Consulting sales	-	2,508,028	-	-	2,508,028
Other income	19,305	372,364	-	-	391,669
Interest income	-	-	-	248,500	248,500
Total income	19,305	4,292,259	-	248,500	4,560,064
Segment net loss from continuing operations before tax	(17,571,042)	(4,753,017)	-	(5,774,688)	(28,098,747)

(All in US$)
Half-year ended June 30, 2022	Battery Materials	Battery Technology	Graphite Exploration	Unallocated	Total
Segment revenue:
Hardware sales	-	1,260,621	-	-	1,260,621
Consulting sales	-	1,918,304	-	-	1,918,304
Other income	25,323	774,934	-	-	800,257
Interest income	-	-	-	6,477	6,477
Total income	25,323	3,953,859	-	6,477	3,985,659
Segment net loss from continuing operations before tax	(11,847,299)	(4,626,905)	-	(14,573,620)	(31,047,824)

Segment assets


(All in US$)	Battery Materials	Battery Technology	Graphite Exploration	Unallocated	Total
June 30, 2023	148,448,476	19,750,814	2,157,208	110,537,135	280,893,633
December 31, 2022	153,744,385	19,635,067	2,219,480	101,825,626	277,424,558

Segment liabilities


(All in US$)	Battery Materials	Battery Technology	Graphite Exploration	Unallocated	Total
June 30, 2023	69,308,586	9,557,042	-	71,913	78,937,541
December 31, 2022	40,119,176	8,960,085	-	2,289,028	51,368,289

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE HALF-YEAR ENDED JUNE 30, 2023

Note 2 Segment reporting (continued)

Geographical Segments

For the purposes of segment reporting, all segment activities relating to Graphite Exploration are carried out in Australia and all segment activities relating to Battery Materials and Battery Technology are carried out in North America.