Events occurring after reporting date Except as noted below, no matter or circumstance has occurred subsequent to year end that has significantly affected, or may significantly affect, the operations of the Group, the results of those operations or the state of affairs of the Group or economic entity in subsequent financial periods. – On 9 September 2024, the Group announced a capital raise of $2,500,000 via a Placement. The Group received $2,232,500 (net of broker fees) on 13 September 2024. $130,000 relating to Director participation will be received following the AGM in October 2024 (subject to shareholder approval). On 9 September 2024, the Group also announced a Share Purchase Plan to raise approximately $2,000,000. – On 1 July 2024, the Group paid US$300,000 to increase ownership in Gold Exploration Ecuador S.A. (the company which holds the El Palmar project) to 74.5%. Significant changes in the state of affairs Other than those matters discussed in this report, no significant changes in the state of affairs of the Group occurred during the financial period. Likely developments and expected results The Group will continue exploration and development activities. The Group assesses commercial opportunities for corporate growth, including the acquisition of interests in projects, as they arise. Due to the unpredictable nature of these opportunities, developments could occur at short notice. Environmental regulations The Group is subject to the environmental laws and regulations imposed under the Environmental Codes in the jurisdictions in which it operates. The Group is currently engaged in exploration activities which are governed by conditions or recommendations imposed through the granting of a licence or permit to explore. Compliance with these laws and regulations is regarded as a minimum standard for the Group to achieve. There were no known breaches of any environmental laws or regulations during the year. Information on Directors The Directors of the Company at any time during or since the end of the financial year were: Mr Graham Ascough BSc, PGeo, MAusIMM Independent Non-Executive Chair: Appointed 29 November 2013 Special responsibilities Member of the Audit and Financial Risk Committee Experience and expertise Mr Ascough is a senior resources executive with more than 30 years of industry experience evaluating mineral projects and resources in Australia and overseas. He is also currently non-executive Chairman of ASX listed companies: Geopacific ResourcesMetals Limited and Black Canyon Limited, and non-executive director of Patronus Resources Limited. Mr Ascough, a geophysicist, has had broad industry involvement playing a leading role in setting the strategic direction for companies, completing financing and in implementing successful exploration programmes. He is a member of the Australasian Institute of Mining and Metallurgy and is a Professional Geoscientist of Ontario, Canada. Mr Ascough has served as a director of several companies listed on the Australian Securities Exchange in recent years, including Musgrave Minerals Limited. Previously, he was the Australasian Manager of Nickel and PGM Exploration at the major Canadian resources house, Falconbridge Limited, which was acquired by Xstrata Plc in 2006. Other directorships of listed companies in the past three years Patronus Resources Limited (appointed 11 September 2024) PNX Metals Limited (formerly Phoenix Copper Limited) (appointed December 2012; PNX Metals Limited was delisted from the ASX on 12 September 2024); Black Canyon Limited (appointed 25 August 2013; Company listed on ASX 5 May 2021) Geopacific Resources Limited (appointed 7 November 2023) Musgrave Minerals Limited (appointed 26 May 2010 until 29 September 2023) 19 Sunstone Metals Limited Annual Report 2024
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