Notes to the Consolidated Financial Statements for the year ended 30 June 2025 8. Investment in joint venture (continued) Consolidated audited statements of cash flows of KMS for the years ended 30 June 2024 and 2025 are as follows: Joint venture (100%) 2025 $’000 (Audited) Joint venture (100%) 2024 $’000 (Audited) Cash flows from operating activities Receipts from customers 253,049 49,708 Interest received 29 40 Payments to employees (27,651) (30,458) Payments to suppliers (166,707) (77,724) Payments of royalties (11,420) – Net Interest and other finance costs paid (30,207) (25,799) Net cash flows from / (used in) operating activities 17,093 (84,233) Cash flows from investing activities Proceeds from sale of property, plant and equipment – 6 Payments for exploration and evaluation expenditure (798) (1,633) Payments for plant and equipment (3,526) (10,360) Payments for mine assets under development expenditure (19,159) (81,388) Payments for bonds and guarantees (78) (275) Net cash flows used in investing activities (23,561) (93,650) Cash flows from financing activities Payments for lease liabilities (18,473) (14,280) Repayment of borrowings (39,121) Proceeds from borrowings 64,138 97,342 Proceeds from issue of shares 15,000 Net cash flows from financing activities 6,544 98,062 Net increase/(decrease) in cash and cash equivalents 76 (79,821) Effect of exchange rates on cash and cash equivalents (568) (40) Cash and cash equivalents at beginning of period 15,350 95,211 Cash and cash equivalents at end of period 14,858 15,350 54 Sheffield Resources Limited Annual Report 2025
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