20974 29Metals AR23 WEB V1 - Flipbook - Page 185
2023 key
results
106
Chair letter and
CEO report
About
29Metals
Our
assets
Sustainability
& ESG Report
Mineral Resources
and Ore Reserves
Annual
Financial Report
181
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)
Master netting or similar arrangements (continued)
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Gross amounts of
financial instruments
Related financial
instruments that are
setoff
Net amount
presented in the
statement of financial
position
Note
$’000
$’000
$’000
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old swaps
Note 29: Fair value measurement
air value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between mar et participants at the
measurement date. he fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability ta es place
either
▪
in the principal mar et for the asset or liability or
▪
in the absence of a principal mar et in the most advantageous mar et for the asset or liability.
he fair value of an asset or a liability is measured using the assumptions that mar et participants would use when pricing the asset or liability assuming
that mar et participants act in their economic best interest. he roup uses valuation techniques that are appropriate in the circumstances and for which
sufficient data are available to measure fair value ma imising the use of relevant observable inputs and minimising the use of unobservable inputs.
Fair value hierarchy
ll assets for which fair value is recognised or disclosed are categorised within the fair value hierarchy based on the lowest level input that is significant
to the fair value measurement as a whole as follows
▪
evel
uoted unad usted mar et prices in active mar ets for identical assets or liabilities.
▪
evel Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable.
▪
evel Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.
Fair value measurement
he categories of financial assets measured at fair value for the roup are trade receivables refer to ote
and gold commodity derivatives refer to
ote
. he fair value measurement is classified as evel on the fair value hierarchy. he fair value of the trade receivables is determined through the
final invoice value using latest grade and weights when this is available and the
forward price curve.
he carrying value of other financial assets and liabilities as at
ecember
appro imate fair value.
here were no transfers between evel and evel fair value measurements and no transfers into or out of evel fair value measurements during the
year ended
ecember
or the prior period.
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