20974 29Metals AR23 WEB V1 - Flipbook - Page 172
168
29Metals 2023 Annual Report
Consolidated Financial Statements continued
29Metals Appendix 4E and Annual Financial Report for 29Metals Limited and its Controlled Entities for the year ended 31 December 2023
93
Consolidated Financial Statements
Note 21: Impairment of non-current assets (continued)
Golden Grove CGU (continued)
Key Assumptions (continued)
sĂůƵĂƚŝŽŶŽĨDŝŶĞƌĂůZĞƐŽƵƌĐĞƐŶŽƚŝŶĐůƵĚĞĚŝŶƚŚĞ>KD
ineral esources which are not included in a CGU’s
plan as result o the current assessment o economic returns timing o speci ic production
alternati es and the pre ailing economic en ironment ha e been alued and included in the assessed air alue he air alue o these resources has
been determined based on the obser able mar et alue o assets considered similar to the ineral esources not included in the current
plan
KƉĞƌĂƚŝŶŐĂŶĚĐĂƉŝƚĂůĐŽƐƚƐ
operating and capital cost assumptions are based on the Group’s latest budget and
plan perating cost assumptions re lect the e pectation
that costs will o er the long term ha e a degree o positi e correlation to the pre ailing metal price assumptions
ZĞƐƵůƚŽĨŝŵƉĂŝƌŵĞŶƚƚĞƐƚĂŶĚ^ĞŶƐŝƚŝǀŝƚLJŶĂůLJƐŝƐ
s a result o the anal sis per ormed there is no impairment loss recognised or the Golden Gro e CGU or the ear ended
C e ceeding the carr ing alue o the Golden Gro e CGU b $ 0 000 000
sensiti it anal sis o the impact on the e cess o the
isolation at
ecember 0 is set out below
ecember 0
with the
C o er the carr ing alue o the Golden Gro e CGU to changes in e assumptions in
Increase in key assumption
Decrease in key assumption
1
Increase / (decrease) 1
$’000
$’000
Increase / (decrease)
change in Copper price
change in inc price
change in the U U
oreign e change rate
0 0
change in discount rate
0
change in air alue o resources not included in
0
change in mining cost
0
0
change in processing cost
ncrease
decrease cited is the increase in the e cess
C o er the carr ing alue or decrease in e cess
C o er the carr ing alue as applicable
Capricorn Copper CGU
Capricorn Copper indicator assessment
s a result o the impact o the treme eather ent at Capricorn Copper in arch 0
re er to ote
and the general indications o impairment
noted abo e a ormal impairment test was per ormed to determine the reco erable amount o the Capricorn Copper CGU
Key Assumptions
he table below summarises the e assumptions used in the carr ing alue assessment
31 December
2023
Copper price long term
U $t
iscount rate post ta real
U
U
e change rate long term
air alue o resources not included in
0
U U
0
$’000
erage mining costs o er
$’000 p a
erage processing costs o er
$’000 p a
000
0
DĞƚĂůƉƌŝĐĞƐĂŶĚ&ŽƌĞŝŐŶdžĐŚĂŶŐĞ
etal prices and oreign e change rates are estimated with re erence to a consensus o e ternal mar et orecasts
93
