FINANCIAL REPORT NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the year ended 30 June 2025 124 WESTGOLD RESOURCES LIMITED as at 1 Aug 2024 $000 Trade and other payables (81,062) Financial liability - Royalty (4,315) Equipment loans (12,451) Lease Liabilities (4,093) Current borrowings (1,801) Employee liabilities (22,400) Employee entitlements (5,399) Current Liabilities (131,521) Equipment loans (11,520) Lease Liabilities (4,454) Financial liability - Royalty (36,051) Rehabilitation provision (44,507) Deferred Tax Liability (482,088) Non - Current Liabilities (578,620) Total Liabilities (710,141) Net Assets 1,377,998 The acquired business contributed revenues of $542 million and net profit before tax of $3.3 million to the group for the period 1 August 2024 to 30 June 2025. Acquisition – related costs Post merge expensed acquisition costs of $84.5 million are included in the Statement of Comprehensive Income, which includes stamp duty costs of $75.7 million. Deferred Tax Liability The total Deferred tax liability impact as a result of the purchase price allocation fair value determined totalled $482 million, mainly relates to the fair value allocated to Mine Properties, Exploration and Evaluation Assets. This liability is non-current and arising from taxable temporary differences. 36. DISPOSAL OF SUBSIDIARY In February 2025, the Group announced its decision to enter into a binding agreement to divest 100 per cent interest of its non-core Lakewood Milling Operation to Black Cat Syndicate Limited (ASX: BC8). The sale completed on 31 March 2025 and resulted in a gain on disposal of $51 million. The sale consideration included an upfront and deferred cash consideration of $70 million and $19 million in ordinary shares (Consideration Shares) of BC8. The Consideration Shares are subject to a 12-month period of escrow from their date of issue. The Lakewood Milling Operation is not considered a separate major component of the Group and therefore was not classified as a discontinued operation, with its results remaining within continuing operations in the Group’s Consolidated income statement. As part of the transaction Westgold entered into a tolling agreement for the tolling of Ore at Lakewood up to a maximum of 200,000 WMT per annum up to 31 December 2026. 35. ACQUISITION OF KARORA (CONTINUED)
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