v3.26.1
Operating segments
 6 Months Ended
Jun. 30, 2026
Operating segments [Abstract]  
Operating segments
Note 2. Operating segments


2.1 Operating Segments


An operating segment is a component of the Group that engages in business activities from which it may earn revenues and incur expenses; including revenues and expenses that relate to transactions with any of the Group's other components. An operating segment's operating results are reviewed regularly by the Chief Operating Decision Maker (CODM) to make decisions about resources to be allocated to the segment and assess its performance, and for which discrete financial information is available. The Managing Director is considered to be the CODM and is empowered by the Board to allocate resources and assess the performance of the Group.


Segment results that are reported to the CODM include items directly attributable to a segment as well as those that can be allocated on a reasonable basis.
Description of segments
The Company operates predominantly as a mineral exploration and development company. The operating segments are based on the reports reviewed by the Managing Director for assessing performance and determining the allocation of resources and strategic decision making within the Group.

North America
Represents activity in the US primarily in relation to Rhyolite Ridge and the Reno office.
Australia
Represents head office expenditure, including ASX listing costs, employee benefits, exchange gains and losses and corporate assets (predominantly cash).


 
North
America
    
North
America
    
Australia
    
Australia
    
Total
    
Total
  
   
6 months
ended
    
6 months
ended
    
6 months
ended
    
6 months
ended
    
6 months
ended
    
6 months
ended
  

 
30-Jun-2026
    
31-Dec-2025
    
30-Jun-2026
    
31-Dec-2025
    
30-Jun-2026
    
31-Dec-2025
  
    ($'000)
    ($'000)
    ($'000)
    ($'000)
    ($'000)
    ($'000)
 
                                     
Other expenses
     (930 )     (741 )     (1,416 )     (904 )     (2,346 )     (1,645 )
                                                 
Employee benefits and other expenses
     (1,150 )     (964 )     (1,137 )     (1,757 )     (2,287 )     (2,721 )
Net financing (expense)/income
    
(2,200
)
    
(1,996
)
    
2,825
      
2,292
      
626
      
296
  
                                                 
Loss before income tax
    
(4,280
)
    
(3,701
)
    
272
      
(369
)
    
(4,007
)
    
(4,070
)
                                                 
Segment assets
                                    
Exploration assets
    
214,737
      
209,009
      
-
      
-
      
214,737
      
209,009
  
Other assets
    
53,507
      
12,683
      
10,851
      
10,851
      
64,358
      
23,534
  
Total assets
    
268,244
      
221,692
      
10,851
      
10,851
      
279,095
      
232,543
  
                                                 
Segment liabilities
                                                
Payables
    
(1,761
)
    
(1,416
)
    
(148
)
    
(421
)
    
(1,909
)
    
(1,837
)
Provisions
    
(169
)
    
(105
)
    
(224
)
    
(198
)
    
(393
)
    
(303
)
Total current liabilities
    
(1,930
)
    
(1,521
)
    
(372
)
    
(619
)
    
(2,302
)
    
(2,140
)
                                                 
Payables
    
(20
)
    
(107
)
    
(86
)
    
(77
)
    
(106
)
    
(184
)
Total non-current liabilities
    
(20
)
    
(107
)
    
(86
)
    
(77
)
    
(106
)
    
(184
)
                                                 
Net assets
    
266,294
      
220,064
      
10,393
      
10,155
      
276,687
      
230,219
  



Major customers


This Company has no major customers and nil revenues at 30 June 2026 (31 December 2025: nil).