111 ANNUAL REPORT 2025 24. ISSUED CAPITAL (CONTINUED) (h) Dividends 2025 $000 2024 $000 (i) Ordinary shares No ordinary unfranked dividend for FY25 (FY24: 1 cent). The FY24 proposed dividend was declared after FY24 year end and paid on 11 October 2024 out of retained earnings in FY25. 5,927 4,736 2025 $000 2024 $000 (ii) Dividends not recognised at the end of the reporting period Since year end the Directors have recommended the payment of a unfranked final dividend of 3 cents per fully paid ordinary share (2024 – 1.25 cent) as at 30 June 2025. The amount of the proposed dividend expected to be paid on 10 October 2025 out of retained earnings at 30 June 2025, but not recognised as a liability at year end. 28,349 5,920 $1,712,573 Franking Credits remain available for subsequent periods. 25. RETAINED EARNINGS (ACCUMULATED PROFIT) 2025 $000 2024 $000 At 1 July 27,419 (63,077) Net profit in current year attributable to members of the parent entity 34,753 95,232 Dividends paid (5,927) (4,736) At 30 June 56,245 27,419 26. RESERVES in $000 Other reserve Share-based payments reserve Foreign currency translation reserve Total At 30 June 2023 181,494 16,924 – 198,418 Share-based payments – 3,367 – 3,367 At 30 June 2024 181,494 20,291 – 201,785 Other comprehensive income, net of tax – – 2,000 2,000 Share-based payments – 4,495 – 4,495 At 30 June 2025 181,494 24,786 2,000 208,280 Other reserve This reserve relates to the intercompany loans with Metals X Ltd written off on demerger of the Group. Share-based payments reserve This reserve is used to recognise the fair value of instruments issued to employees in relation to equity-settled share-based payments. Foreign currency translation reserve This reserve relates to exchange differences arising on translation for consolidation purposes recognised in Other Comprehensive Income (OCI).
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