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Funding from Related Party
12 Months Ended
Jun. 30, 2025
Funding from Related Party [Abstract]  
FUNDING FROM RELATED PARTY
18.FUNDING FROM RELATED PARTY

 

   30 June
2025
$
   30 June
2024
$
 
Working capital advance from parent – European Lithium Ltd   5,854,852    4,268,857 
    5,854,852    4,268,857 

 

   30 June
2025
$
   30 June
2024
$
 
Balance at beginning of year   4,268,857    34,603 
Working capital advance from parent (i)   3,910,441    4,234,254 
Repayment of working capital advances from parent   (2,254,980)   
-
 
Foreign exchange   (69,466)   
-
 
Balance at end of year   5,854,852    4,268,857 

 

(i)On 26 October 2022, European Lithium Ltd (EUR) announced that it has entered into a business combination agreement with Sizzle Acquisition Corp., a US special purpose acquisition company listed on NASDAQ (NASDAQ:SZZL) (Sizzle), pursuant to which EUR will effectively sell down its shareholding in European Lithium AT (Investments) Ltd, ECM Lithium AT GmbH and ECM Lithium AT Operating GmbH (collectively EUR Austria), which hold the Wolfsberg Lithium Project and certain other mineral permits prospective for lithium in Austria, in consideration for the issue of shares in the Company (Transaction). The Transaction was approved by EUR shareholders on 20 January 2023 and on 22 February 2024, Sizzle shareholders approved the Transaction at a special meeting. CRML commenced trading on the Nasdaq on 28 February 2024. In accordance with the Transaction, EUR will be reimbursed for certain expenses incurred in respect to the Transaction.

 

In addition, EUR has provided funding to CRML to cover certain operational expenses since closing of the Transaction. As at 30 June 2025, a total of $5,854,852 is repayable to EUR. The funds advanced are repayable on demand.

 

(ii)

On 10 December 2024, the Company entered into a formal loan agreement with EUR to advance funds of up to AUD$2m. Funds of $946,020 (AUD$1.5m) were advanced on 13 December 2024. The loan was secured over the Company’s assets including the Wolfsberg Project and interest in the Tanbreez project. The loan accrued interest of 5% per annum. On 18 February 2025 the loan totaling $954,051 (including accrued interest of $8,031) was repaid in full. At 30 June 2025 there was nil amount owing and all security against the loan has been lifted.