Note 6. Cash and cash equivalents 2024 $ 2023 $ Cash on hand and at bank 2,669,044 10,306,546 Cash at bank earns interest at floating rates based on daily bank deposit rates. The cash at bank is bearing floating interest rates between 3.81% and 5.21% (2023: 1.12% and 4.13%). The carrying amounts of cash and cash equivalents represent fair value. Restricted cash balances totalling $287,465 (2023: $15,225) representing term deposits securing various performance guarantees have been disclosed under trade and other receivables (refer Note 7). Note 7. Trade and other receivables 2024 $ 2023 $ Other debtors 41,158 65,622 Deposits 287,465 15,225 Prepayments 12,275 8,685 Total trade and other receivables 340,898 89,532 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. All receivables excluding deposits are non-interest bearing and balances are current. Note 8. Financial assets at fair value through profit or loss 2024 $ 2023 $ Current Shares in NewPeak Metals Ltd 16,338 81,690 Shares in United Lithium Corp 95,122 197,686 Total financial assets at fair value through profit or loss 111,460 279,376 Reconciliation of the written down values at the beginning and end of the financial year: 2024 $ 2023 $ Opening fair value 279,376 1,705,298 Copperstone shares sold during the financial year – (1,913,889) Fair value increments / (decrements) (167,916) 487,967 Closing fair value 111,460 279,376 Shares held in listed companies are recognised at the market value on the reporting date of $111,460 (2023: $279,376) under level 1 of the fair value hierarchy referred to in AASB 13 Fair Value measurement. The value of Sunstone’s 290,601 shares (following a 3:1 share consolidation from 871,803 shares) held in United Lithium Corp (CSE:ULTH) decreased in value with the share price closing at CAD 0.30 (2023: CAD 0.20 pre‑consolidation) resulting in a fair value decrement of $102,564. The value of Sunstone’s 816,904 shares (following a 1:100 share consolidation from 81,690,362 shares) held in NewPeak Metals Ltd (ASX:NPM) decreased in value with the share price closing at $0.02 (2023: $0.001 pre consolidation) resulting in a fair value decrement of $65,352. 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 2024 46 Sunstone Metals Limited Annual Report 2024
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