Contingent assets and liabilities

6 Months Ended

Dec. 31, 2025

Contingent assets and liabilities [Abstract]

Note 30. Contingent assets and liabilities

Settlement of Rhyolite Ridge

The Company has entered an option agreement to purchase Rhyolite Ridge from Boundary Peak Minerals LLC on 3 June 2016. The Company has made 4 progress payments to Boundary Peak under the agreement. A final payment will fall due following Board making a ‘decision to mine’ the Rhyolite Ridge property. Once this decision is made, the Company is required under the terms of the contract to either:

●	Pay Boundary Peak LLC US $3 million, or

●	Issue shares (or a mix of both shares and cash) to Boundary Peak LLC, to the equivalent of US $3 million at a fixed exchange rate of USD $0.75 = AUD $1.00.

As at the date of this report, the decision to mine has not yet been made by the Company.

There are no other known contingent liabilities as at 31 December 2025.