v3.26.3
RESERVES
 12 Months Ended
Jun. 30, 2026
Disclosure of reserves within equity [abstract]  
RESERVES RESERVES
Notes20262025
US$US$
Share-based payments reserve17(b)12,392,374 6,469,201 
Foreign currency translation reserve17(f)929,049 (2,780,397)
13,321,423 3,688,804 
(a)    Nature and Purpose of Reserves
(i)Share-based payments reserve
The share-based payments reserve is used to record the fair value of Unlisted Options, RSUs and Performance Rights issued by the Group.
(ii)Foreign currency translation reserve
Exchange differences arising on translation of entities whose functional currency is different to the Group’s presentation currency are taken to the foreign currency translation reserve, as described in Note 1(d).
(b)    Movements in Share-Based Payments Reserve During the Year
Number of
Unlisted
Options
 (Note 17(c))
Number of
Performance
Rights
 (Note 17(d))
No. of
Restricted Stock
Units
 (Note 17(e))
US$
2026
June 30, 202512,904,1187,504,4094,798,2256,469,201 
Grant of employee options, rights and RSUs4,086,871769,077853,979- 
Exercise of options, rights and RSUs(2,118,279)(595,000)(1,540,516)(3,243,161)
Lapse/forfeiture of employee options, rights and RSUs(8,000,000)(630,000)(1,018)- 
Share-based payment expense---9,166,334 
June 30, 20266,872,7107,048,4864,110,67012,392,374 
2025
June 30, 202411,749,37227,469,3354,377,03413,440,265 
Grant of employee options, rights and RSUs2,679,7465,288,4092,220,020- 
Exercise of options, rights and RSUs(1,525,000)(24,273,335)(1,639,496)(15,818,993)
Issue of shares to consultants---(470,262)
Issue of shares to Director in lieu of bonus---(250,000)
Lapse/forfeiture of employee rights and RSUs-(980,000)(159,333)- 
Share-based payment expense---9,568,191 
June 30, 202512,904,1187,504,4094,798,2256,469,201 
2024
June 30, 202323,011,372 29,146,000 824,371 15,004,052 
Grant of employee rights and RSUs- 4,021,000 3,894,124 - 
Exercise of options, rights and RSUs(11,262,000)(5,147,665)(341,461)(4,726,904)
Issue of shares to consultants- - - (470,000)
Expiry of employee rights- (550,000)- (158,424)
Share-based payment expense- - - 3,791,541 
June 30, 202411,749,37227,469,3354,377,03413,440,265 
Note: For details on the valuation of Unlisted Options, Performance Rights and RSUs, including models and assumptions used, refer to Note 21 of the financial statements.
(c)    Terms and Conditions of Unlisted Options
Unlisted Options granted as share-based payments have the following terms and conditions:
•Each Unlisted Option entitles the holder to the right to subscribe for one share upon the exercise of each Unlisted Option;
•The Unlisted Options outstanding at the end of the financial year have the following exercise prices and expiry dates:
◦106,093 director options exercisable at A$0.87 each on or before December 5, 2026;
◦235,000 unlisted options exercisable at A$10.00 each on or before April 1, 2027;
◦1,305,000 unlisted options exercisable at A$8.00 each on or before June 30, 2027;
◦1,374,746 employee options exercisable at A$5.00 each on or before April 10, 2029;
◦511,972 employee options exercisable at A$11.00 each on or before April 2, 2030;
◦1,566,690 director and employee options exercisable at A$18.00 each on or before April 2, 2031; and
◦1,773,209 director and employee options exercisable at A$22.00 each on or before April 2, 2031.
•The Unlisted Options are exercisable at any time prior to the Expiry Date, subject to vesting conditions being satisfied (if applicable);
•Shares issued on exercise of the Unlisted Options rank equally with the then Shares of the Company;
•Application will be made by the Company to ASX for official quotation of the Shares issued upon the exercise of the Unlisted Options;
•If there is any reconstruction of the issued share capital of the Company, the rights of the Unlisted Option holders may be varied to comply with the ASX Listing Rules which apply to the reconstruction at the time of the reconstruction; and
•No application for quotation of the Unlisted Options will be made by the Company.
(d)    Terms and Conditions of Performance Rights
Performance Rights granted as share-based payments have the following terms and conditions:
•Each Performance Right automatically converts into one Share upon vesting of the Performance Right;
•Each Performance Right is subject to performance conditions (as determined by the Board from time to time) which must be satisfied in order for the Performance Right to vest;
•The Performance Rights outstanding at the end of the financial year have the following performance conditions and expiry dates:
◦2,885,000 employee performance rights that vest upon achieving a 30-day VWAP of A$4.00 per share (2,440,000 expiring December 21, 2028 and 445,000 expiring December 31, 2027);
◦660,077 director and employee performance rights that vest upon achieving a 30-day VWAP of A$18.00 expiring April 2, 2031;
◦1,157,803 employee performance rights that vest upon achieving a 30-day VWAP of A$6.00 expiring April 10, 2031;
◦1,157,803 employee performance rights that vest upon achieving a 30-day VWAP of A$7.00 per share expiring April 10, 2031;
◦1,157,803 employee performance rights that vest upon achieving a 30-day VWAP of A$8.00 per share expiring April 10, 2031; and
◦30,000 employee performance rights that vest upon achieving various (non-market based) performance conditions expiring December 31, 2026.
•Application will be made by the Company to ASX for official quotation of the Shares issued upon conversion of the Performance Rights;
•If there is any reconstruction of the issued share capital of the Company, the rights of the Performance Right holders may be varied to comply with the ASX Listing Rules which apply to the reconstruction at the time of the reconstruction;
•No application for quotation of the Performance Rights will be made by the Company; and
•Without approval of the Board, Performance Rights may not be transferred, assigned or novated, except, upon death, a participant’s legal personal representative may elect to be registered as the new holder of such Performance Rights and exercise any rights in respect of them.
(e)    Terms and Conditions of Restricted Stock Units
RSUs granted as share-based payments have the following terms and conditions:
•Each RSU automatically converts into one Share upon vesting of the RSU;
•Each RSU is subject to service-based performance conditions (as determined by the Board from time to time) which must be satisfied in order for the RSU to vest;
•The RSUs outstanding at the end of the financial year have the following conditions and expiry dates:
◦118,875 director RSUs that vest upon achieving various service-based conditions, expiring December 23, 2026;
◦1,095,330 director and employee RSUs that vest upon achieving various service-based conditions, expiring December 31, 2026;
◦135,044 director RSUs that vest upon achieving various service-based conditions, expiring December 5, 2027;
◦16,755 employee RSUs that vest upon achieving various service-based conditions, expiring December 31, 2027;
◦20,820 employee RSUs that vest upon achieving various service-based conditions, expiring March 2, 2028;
◦15,500 employee RSUs that vest upon achieving various service-based conditions, expiring April 2, 2028;
◦141,620 director RSUs that vest upon achieving various service-based conditions, expiring December 16, 2028;
◦242,985 employee RSUs that vest upon achieving various service-based conditions, expiring December 31, 2028;
◦1,637,975 director and employee RSUs that vest upon achieving various service-based conditions, expiring April 10, 2029;
◦476,734 employee RSUs that vest upon achieving various service-based conditions, expiring December 31, 2029; and
◦209,032 employee RSUs that vest upon achieving various service-based conditions, expiring April 2, 2030.
•Application will be made by the Company to ASX for official quotation of the Shares issued upon conversion of the RSUs;
•If there is any reconstruction of the issued share capital of the Company, the rights of the RSU holders may be varied to comply with the ASX Listing Rules which apply to the reconstruction at the time of the reconstruction;
•No application for quotation of the RSUs will be made by the Company; and
•Without approval of the Board, RSUs may not be transferred, assigned or novated, except, upon death, a participant’s legal personal representative may elect to be registered as the new holder of such RSUs and exercise any rights in respect of them.
(f)    Movements in Foreign Currency Translation Reserve During the Year
202620252024
US$US$US$
Balance at beginning of the year(2,780,397)(1,178,258)(1,008,244)
Exchange differences arising on translation into presentation currency3,709,446 (1,602,139)(170,014)
Balance at June 30929,049 (2,780,397)(1,178,258)