20974 29Metals AR23 WEB V1 - Flipbook - Page 182
178
29Metals 2023 Annual Report
Consolidated Financial Statements continued
103
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 28: Financial risk management (continued)
Currency risk
The Group is exposed to currency risk on bank balances, payables and receivables that are denominated in a currency other than the functional currency
in hich they are measured
The Group is primarily exposed to changes in the US dollar exchange rate in relation to the price of commodities produced by the Group hich are priced
in US dollar terms and the carrying value of its US dollar denominated debt and cash holdings The Group manages foreign currency risk by borro ing in
US dollar terms and by regularly revie ing its exposure to US dollar fluctuations
The Australian dollar carrying amount of the Group’s US dollar financial assets and liabilities by its currency risk exposure at the reporting date is disclosed
belo
USD exposure
2023
2022
$’000
$’000
ash and cash e uivalents
,
Trade and other receivables
,
Trade and other payables
,
,
,
nterest bearing liabilities
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,
,
,
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The follo ing significant exchange rates applied during the year
Average rate
2023
31 Dec spot rate
2022
2023
2022
AU US
Sensitivity analysis
ased on the financial instruments held at reporting date, had the functional currency eakened strengthened by
, and all other
variables held constant, the Group’s after tax profit loss and e uity for the year ould have been increased decreased by the amounts sho n
belo
2023
Variable financial instruments
103
$’000
5% weakened
2022
$’000
5% strengthened
$’000
10% weakened
$’000
10% strengthened
rofit or loss
,
,
,
,
Total e uity
,
,
,
,
