Note 7. Other receivables (continued) Other debtors consist of invoices for recovery of costs as per contract terms, GST and VAT receivables from the taxation authorities and other minor amounts. All receivables are carried at amortised cost which approximates their fair value. No allowance has been made for impairment of any other receivables as it is highly probable that they will be recovered. All other receivables excluding deposits are non-interest bearing and balances are current. Note 8. Financial assets at fair value through profit or loss 2023 $ 2022 $ Current Shares in Copperstone Resources AB – 1,437,516 Shares in NewPeak Metals Ltd 81,690 81,690 Shares in United Lithium Corp 197,686 186,092 279,376 1,705,298 Reconciliation of the written down values at the beginning and end of the financial year: 2023 $ 2022 $ Opening fair value 1,705,298 – Reclassification - Financial assets at fair value through profit or loss – 6,916,488 Additions – 486,858 Copperstone Shares sold during the financial year (1,913,889) (4,606,607) Fair value increments / (decrements) 487,967 (1,091,441) Closing fair value 279,376 1,705,298 Shares held in listed companies are recognised at the market value on the reporting date of $279,376 (2022: $1,705,298) under level 1 of the fair value hierarchy referred to in AASB 13 Fair Value measurement. During the financial year Sunstone sold the remaining 10,595,878 shares held in Copperstone for $1,913,889 cash consideration, with $476,374 being recognised as part of the fair value increment. 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 (shares valued at CAD 0.51 per share, equivalent to $486,858). The market value of the 871,803 shares held in ULTH at reporting date increased slightly due to the share price closing at CAD 0.20 (2022: CAD 0.19) resulting in a fair value increment of $11,594. The value of Sunstone’s 81,690,362 shares held in NewPeak Metals Ltd (ASX:NPM) remained the same with the share price closing at $0.001 (2022: $0.001) resulting in no movement in fair value. 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 Canadian Dollar. Notes to the Financial Statements for the year ended 30 June 2023 46 Sunstone Metals Limited Annual Report 2023
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