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Borrowings (Tables)

12 Months Ended

Dec. 31, 2024

	2024					2023
	Current		Non-current			Current		Non-current
		A$’000		A$’000			A$’000		A$’000
Secured
Bank loans		1,490		13,765			964		8,209
Working capital facility		-		(150	)		-		-
Total secured borrowings		1,490		13,615			964		8,209
Unsecured
Convertible bonds		17,500		538,206			-		-
Total unsecured borrowings		17,500		538,206			-		-
Total borrowings		18,990		551,821			964		8,209

Maturity Analysis for Borrowings From Lenders

December 31, 2024

Lenders	Loan balance			Due < 1 year		Due > 1 year			Facility limit		Maturity date
		A$’000			A$’000		A$’000			A$’000
The Hongkong and Shanghai Banking Corporation Limited As The Trustee For Convertible Bond Holders		555,706			17,500		538,206			650,000	30-Jul-29
IMBC Group		6,017			102		5,915			6,458	31-Mar-33
BNP Paribas		9,238			1,388		7,850			13,077	29-Feb-32
HSBC Australia Ltd		(150	)		-		(150	)		50,000	3 years from first utilization
Total		570,811			18,990		551,821			719,535

December 31, 2023

Lenders

Loan balance

Due < 1 year

Due > 1 year

Maturity date

A$’000

BNP Paribas

9,173

964

8,209

29-Feb-32

Total

9,173

964

8,209

Convertible Bonds Presented in Statement of Financial Position

The convertible bonds are presented in the Group’s consolidated statement of financial position as follows:

	2024			2023
		A$’000			A$’000
Face value of convertible bonds issued		650,000			-
Transaction costs		(14,972	)		-
Other equity securities - value of conversion rights		(95,655	)		-
Unwind of discount		13,773			-
Interest expense		6,419			-
Interest paid		(3,859	)		-
Closing balance		555,706			-
Current		17,500			-
Non-current		538,206			-
Total convertible bond liability		555,706			-

Reconciliation of Liabilities Arising from Financing Activities

23.4.

Reconciliation of liabilities arising from financing activities

	Opening balance		Net cash inflow/ (outflow)			Other non- cash movements			Closing balance
		A$’000		A$’000			A$’000			A$’000
For the year ended December 31, 2024
Bank loans		9,173		5,444			638			15,255
Convertible bonds		-		635,028			(79,322	)		555,706
Lease liabilities		8,272		(2,760	)		5,125			10,637
		17,445		637,712			(73,559	)		581,598
For the year ended December 31, 2023
Bank loans		3,312		5,756			105			9,173
Lease liabilities		7,134		(2,858	)		3,996			8,272
		10,446		2,898			4,101			17,445

Convertible Bonds Carrying Amount and Fair Value

For the convertible bonds, the fair value is outlined below. The fair value is based on discounted cash flows using a current borrowing rate. They are classified as level 3 fair values in the fair value hierarchy (refer to note 32.6) due to the use of unobservable inputs, including own credit risk.

	2024				2023
	Carrying amount		Fair value		Carrying amount		Fair value
	A$'000		A$'000		A$'000		A$'000
Bank loans		15,255		15,255		9,173		9,173
Convertible bonds		555,706		556,042		-		-