Note 14. Reserves continued Nature and purpose of reserves Share-based payments reserve The share based payments reserve is used to record the fair value of share based payments provided to Directors, employees, including key management personnel, and contractors as payment for services. Foreign currency translation reserve The foreign currency translation reserve is used to recognise foreign exchange gains or losses arising on the translation of the financial report of foreign subsidiary companies. The functional currency of Sunstone is the Australian Dollar and that of its foreign operations is primarily the US Dollar. Note 15. Non-controlling interests 2024 $ 2023 $ Interest In: Share capital 935,783 935,783 Recognition on acquisition/disposal 4,420 4,420 Retained earnings (66,535) (66,535) Total non-controlling interests 873,668 873,668 Note 16. Cash Flow Information Reconciliation of net loss after tax to net cash flow from operating activities: 2024 $ 2023 $ Operating profit/(loss) after income tax (2,293,242) (1,880,048) Non-cash items in operating profit/(loss) Depreciation and amortisation 78,526 76,064 Net fair value (gain)/loss on financial assets at fair value through profit or loss 167,916 (487,967) Impairment expense 11,446 – Share based payments – performance rights/options 169,160 359,359 Changes in operating assets and liabilities Decrease/(increase) in trade and other receivables* 24,758 146,836 (Decrease)/increase in trade and other payables* 102,655 8,405 (Decrease)/increase in provisions* 324,387 23,993 Net cash flows from operating activities (1,414,394) (1,753,358) * Movements do not include balances which relate to capitalised exploration and evaluation expenditure. Non-cash financing and investing activities: Non-cash investing and financing activities are disclosed in Note 8 relating to shares received as consideration on sale of subsidiaries in prior years. Cash and non-cash movements in liabilities arising from financing activities Lease liabilities 2024 $ 2023 $ Opening balance 32,581 72,482 Non-cash: additions 88,666 – Cash: lease payments (42,848) (39,901) Closing balance 78,399 32,581 Notes to the Financial Statements for the year ended 30 June 2024 50 Sunstone Metals Limited Annual Report 2024
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