3. Segment information

Management has identified that the Group operates in one operating segment, being mineral exploration and evaluation in Malawi. In determining operating segments the Group has had regard to the information and reports the Managing Director, as chief operating decision maker, uses to make strategic decisions regarding the allocation of resources and the assessment of performance; those reports present the Group’s results and financial position on a consolidated basis. The Group operates in two geographical areas, Malawi and Australia, with Australia being where the corporate head office is located. Revenue from external customers was $11,181 (2025: $nil), being laboratory income earned in Malawi (note 4); the Group has not commenced production and earned no other revenue in either year.

Non-current assets by location of the assets are as follows: