Financial Instruments and Risk Management (Tables)

12 Months Ended

Jun. 30, 2026

Disclosure of detailed information about financial instruments [line items]

Undiscounted Contractual Maturity Analysis for Financial Assets and Liabilities

The following table shows an undiscounted contractual maturity analysis for financial assets and financial liabilities and reflects management's expectations with respect to realisation of financial assets and financial liabilities and timing of termination:

Year ended 30 June 2026	Weighted average interest rate %			1 year or less $’000			1 to 5 years $’000			More than 5 years $’000		Total $’000
Financial Assets
Cash and cash equivalents		2.86	%		255,279			–			–		255,279
Trade and other receivables					50,174			–			–		50,174
Other financial assets					–			–			8,805		8,805
Other assets		2.58	%		1,110			6,275			–		7,385
Total financial assets					306,563			6,275			8,805		321,643
Financial liabilities
Trade and other payables					45,222			–			–		45,222
Interest bearing liabilities		5.84	%		46,917			21,431			–		68,348
Lease liabilities		9.92	%		2,556			7,324			3,675		13,555
Total financial liabilities					94,695			28,755			3,675		127,125
Net financial instruments					211,868			(22,480	)		5,130		194,518

Year ended 30 June 2025
Financial Assets
Cash and cash equivalents		3.49	%		47,254			–			–		47,254
Trade and other receivables					15,342			–			–		15,342
Other financial assets					–			–			659		659
Other assets		2.14	%		3,525			439			6,725		10,689
Total financial assets					66,121			439			7,384		73,944
Financial liabilities
Trade and other payables					32,451			–			–		32,451
Interest bearing liabilities		10.51	%		39,381			9,600			–		48,981
Lease liabilities		9.63	%		1,764			59			–		1,823
Total financial liabilities					73,596			9,659			–		83,255
Net financial instruments					(7,475	)		(9,220	)		7,384		(9,311	)

Fair Value of Financial Assets and Liabilities

The following table shows the fair value of financial assets and financial liabilities, including their levels in the fair value hierarchy. It does not include fair value information of financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value.

At 30 June 2026

Level 1

$’000

Level 2

$’000

Level 3

$’000

Total

$’000

Other financial assets designated at FVOCI

8,805

–

8,805

Total

8,805

–

8,805

At 30 June 2025

Other financial assets designated at FVOCI

659

–

659

Trade and other receivables

–

103

–

103

Total

659

103

–

762

Movement in Liabilities from Financing Activities

The movement in the Group’s liabilities from financing activities during the year is as follows:

Year ended 30 June 2026	Interest bearing liabilities $’000			Preference shares $’000		Lease liabilities $’000			Total $’000
At the beginning of the financial year		379			19,201		1,743			21,323
Cash movements		(1,805	)		–		(2,341	)		(4,146	)
Other non-cash movements		4,175			803		10,336			15,314
At the end of the financial year		2,749			20,004		9,738			32,491

Year ended 30 June 2025
At the beginning of the financial year		–			18,419		3,590			22,009
Cash movements		655			–		(2,108	)		(1,453	)
Other non-cash movements		(276	)		782		261			767
At the end of the financial year		379			19,201		1,743			21,323

Year ended 30 June 2024
At the beginning of the financial year		75			18,156		4,141			22,372
Cash movements		(75	)		–		(2,150	)		(2,225	)
Other non-cash movements		–			263		1,599			1,862
At the end of the financial year		–			18,419		3,590			22,009

Interest Rate Risk [Member]

Disclosure of detailed information about financial instruments [line items]

Net Exposure to Risk

The Group’s net exposure to interest rate risk at the reporting date is as follows:

	2026 $’000			2025 $’000
Financial assets
Cash and cash equivalents		255,279			47,254
Other assets		7,385			10,689
Financial liabilities
Interest bearing liabilities ⁽¹⁾		(78,086	)		(50,733	)
Net exposure		184,578			7,210

(1)	Comparative amounts have been re-presented to include all interest bearing liabilities, consistent with the presentation in the current year.

Sensitivity Analysis

The following table demonstrates the sensitivity to a 100 basis point change in interest rates, with all other variables remaining constant:

	Effect on profit after tax 2026 $’000			Effect on profit after tax 2025 $’000
+100 basis point change in interest rates		1,292			50
-100 basis point change in interest rates		(1,292	)		(50	)

Foreign Currency Risk [Member]

Disclosure of detailed information about financial instruments [line items]

Net Exposure to Risk

The Group's net exposure to foreign currency risk (in United States dollars) at the reporting date is as follows:

	Australian dollar risk exposure 2026 $’000			Australian dollar risk exposure 2025 $’000			Canadian dollar risk exposure 2026 $’000			Canadian dollar risk exposure 2025 $’000
Financial Assets
Cash and cash equivalents		98,746			37,840			138,867			11,478
Trade and other receivables		8,334			4,799			7,964			18,174
Other assets		1,428			832			11,871			3,551
Financial liabilities
Trade and other payables		(2,729	)		(3,601	)		(38,922	)		(44,532	)
Interest bearing liabilities		(274	)		(127	)		(34,481	)		(28,493	)
Net exposure		105,505			39,743			85,299			(39,822	)

Sensitivity Analysis

Based on the Group’s net financial assets and liabilities as at 30 June, a weakening of the United States dollar against these currencies as illustrated in the table below, with all other variables held constant, would have the following effect on the Group’s profit or loss after tax:

	Effect on profit after tax 2026 $’000		Effect on profit after tax 2025 $’000
5 per cent movement in Australian dollar		3,693		1,391
5 per cent movement in Canadian dollar		2,985		(1,394	)