Note 8. Financial assets at fair value through profit or loss (continued) During the financial year Sunstone sold 51,042,774 shares in Copperstone for $10,205,201 cash consideration, with a $583,016 net gain on sale of the shares recognised as an offset to the fair value decrement. At 30 June 2022 the Copperstone share price was 0.958 SEK (2021: 1.21 SEK), resulting in fair value decrement on the remaining 10,595,878 shares held in Copperstone of $559,937. During the financial year ended 30 June 2022 Sunstone sold its interest in the Finland Lithium Project to United Lithium Corp (CSE:ULTH), receiving CAD420,000 in cash (equivalent to $459,900) and CAD420,000 in ULTH shares upon settlement (871,803 shares valued at CAD 0.51 per share, equivalent to $486,858). The market value of the shares held at reporting date decreased due to the share price closing at CAD 0.19 resulting in a fair value decrement of $300,767. The value of Sunstone’s 81,690,362 shares held in NewPeak Metals Ltd (ASX:NPM) decreased due to the share price closing at 0.001 (2021: $0.002) resulting in a fair value decrement of $86,619. It is noted that this value may fluctuate from period to period due to share price movements and changes in the exchange rate between the Australian Dollar and the Swedish Krona and Canadian Dollar. Note 9. Property, plant and equipment Office equipment $ Computer equipment $ Exploration equipment $ Right of use assets $ Total $ Year Ended 30 June 2022 Carrying amount at beginning of financial year 849 1,803 89,373 97,827 189,852 Additions 23,817 224,873 402,842 – 651,532 Disposals – – – – – Depreciation expensed (154) (6,972) (26,120) (35,574) (68,820) Depreciation capitalised as exploration (3,037) (31,607) (59,631) – (94,275) Effect of movement in foreign exchange 71 31 – – 102 Carrying amount at end of financial year 21,546 188,128 406,464 62,253 678,391 As at 30 June 2022 At Cost 48,983 283,317 533,438 173,735 1,039,473 Accumulated Depreciation (27,437) (95,189) (126,974) (111,482) (361,082) 21,546 188,128 406,464 62,253 678,391 Year Ended 30 June 2021 Carrying amount at beginning of financial year 1,024 4,978 115,493 28,721 150,216 Additions – – – 106,720 106,720 Disposals – – – – – Depreciation expensed (93) (3,096) (26,120) (37,614) (66,923) Depreciation capitalised as exploration – – – – – Effect of movement in foreign exchange (82) (79) – – (161) Carrying amount at end of financial year 849 1,803 89,373 97,827 189,852 As at 30 June 2021 At Cost 25,071 60,295 130,597 173,735 389,698 Accumulated Depreciation (24,222) (58,492) (41,224) (75,908) (199,846) 849 1,803 89,373 97,827 189,852 Right of use assets relates to office lease. 45 Sunstone Metals Limited Annual Report 2022 SUNSTONE METALS LIMITED ANNUAL REPORT 2022
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