20974 29Metals AR23 WEB V1 - Flipbook - Page 163
2023 key
results
84
Chair letter and
CEO report
About
29Metals
Our
assets
Sustainability
& ESG Report
Mineral Resources
and Ore Reserves
Annual
Financial Report
159
29Metals Appendix 4E and Annual Financial Report for 29Metals Limited and its Controlled Entities for the year ended 31 December 2023
Consolidated Financial Statements
Note 14: Derivative financial instruments
The Group’s deri ti e i
i l i stru e ts re ot desi ted s hed i i stru e ts d s su h re
ou ted or t ir lue ith o e e ts i
ir lue re o ised throu h the o solid ted t te e t o o prehe si e i o e While the Group’s deri ti e i
i l i stru e ts re ot
desi ted s hed i i stru e ts the re used the Group to
e o
odit pri e ris
eri ti es re prese ted s urre t to the e te t the
re e pe ted to e settled ithi
o ths ter the e d o the reporti
period
(a) Gold swaps
ŵŽƵŶƚƐƌĞĐŽŐŶŝƐĞĚŝŶƚŚĞŽŶƐŽůŝĚĂƚĞĚ^ƚĂƚĞŵĞŶƚŽĨ&ŝŶĂŶĐŝĂůWŽƐŝƚŝŽŶĂƐĨŝŶĂŶĐŝĂů
ůŝĂďŝůŝƚŝĞƐ
Gold s
ps t ir
lue – urre t
Gold s
ps t ir
lue – o
2023
2022
Note
$’000
$’000
urre t
dŽƚĂůĞƌŝǀĂƚŝǀĞĨŝŶĂŶĐŝĂůůŝĂďŝůŝƚŝĞƐ
The Group h s e tered the ollo i
Gold swap contracts
;ϭϭ͕ϬϯϯͿ
;ϲ͕ϳϴϮͿ
deri ti e o tr ts
Term
Ounces
Contract Price $
per ounce
Fair value at
31 Dec 2023
$’000
ϮϬ͕ϴϱϬ
;ϭϭ͕ϬϯϯͿ
Ounces
Contract Price $
per ounce
Fair value at
31 Dec 2022
$’000
ϯϬ͕ϬϮϰ
;ϲ͕ϳϴϮͿ
ƐĂƚϯϭĞĐĞŵďĞƌϮϬϮϯ
Gold s
p–
de o i ted o tr t
e
– ep
Gold s
p–
de o i ted o tr t
e
– ep
Gold swap contracts
Term
ƐĂƚϯϭĞĐĞŵďĞƌϮϬϮϮ
Gold s
p–
de o i ted o tr t
Gold s
p–
de o i ted o tr t
Gold s
p–
de o i ted o tr t
Gold s
p–
de o i ted o tr t
e
–
t
– ep
– ep
– ep
The
i u redit e posure t the d te o e sure e t o these deri ti e i
e teri i to s ps o tr ts ith reput le ou terp rties d p rt ers
i l i stru e ts is the
rr i
lue The Group
The o
odit s ps re lued usi
lu tio te h i ues hi h e plo the use o
r et o ser le i puts The ost re ue tl
te h i ues i lude or rd pri i
d s p odels usi prese t lue l ul tio s The odels i orpor te rious i puts i ludi
o ou terp rties d or rd pri e ur es o the u derl i
o
odit
iti tes the ris
pplied lu tio
the redit u lit
84
