Note 19. Related party transactions and Key Management Personnel Controlling entities The ultimate parent entity in the wholly-owned Group is Sunstone Metals Limited. Interests in subsidiaries are disclosed in Note 23. Key Management Personnel compensation 2024 $ 2023 $ Short-term employee benefits 1,408,440 1,303,800 Cash bonus 287,200 287,200* Post employment benefits 137,879 120,624 Long-term benefits 58,303 21,462 Termination benefits 292,552 – Share based payments 281,195 576,487 Total Key Management Personnel compensation 2,465,569 2,309,573 * Bonus amount for FY2023 has been restated to reflect bonuses actually paid in relation to services performed in the year ended 30 June 2023. The table previously disclosed total bonuses paid of $656,640 which was the amount paid during the year ended 30 June 2023, but related to performance for the year ended 30 June 2022. This restatement is disclosure only, and does not impact the amounts recorded in the Consolidated Statement of Profit or Loss and Other Comprehensive Income for the years ended 30 June 2023 or 30 June 2024. There were no other related party transactions during the financial year (2023: Nil) Note 20. Capital and other commitments Commitments on Tenements 2024 $ 2023 $ Not later than 12 months 663,944 375,202 Between 12 months and 5 years 3,816,653 4,023,698 Total commitments 4,480,597 4,398,900 Exploration tenement fees are required to keep licenses in good standing. The Group is committed to this expenditure on the current tenements. In order to maintain current rights to tenure of its mineral tenement leases, the Group will be required to pay exploration tenement/claim fees to the government in Ecuador in addition to prove reasonable exploration activities have been undertaken. These obligations may be varied from time to time, or subject to approval, and are expected to be fulfilled in the normal course of operations of the Group. At 30 June 2024, Sunstone held 70% of the highly prospective El Palmar copper-gold porphyry project in Ecuador. Under an Amended Staged Acquisition Agreement signed in June 2024, Sunstone increased ownership in El Palmar to 74.5% following a payment of US$300,000 in July 2024. Sunstone can increase ownership to 100% with a final payment of US$1,700,000 due by 1 July 2026. Note 21. Financial instruments and financial risk management The Group’s activities expose it to a variety of financial risks including credit risk, liquidity risk, interest rate risk and foreign currency risk. The Group’s overall risk management program focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the financial performance of the Group. Risk management is carried out by the Board of Directors under policies approved by the Board. The Board identifies and evaluates financial risks and provides written principles for overall risk management. Notes to the Financial Statements for the year ended 30 June 2024 54 Sunstone Metals Limited Annual Report 2024
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