ALLUP SILICA LIMITED NOTES TO THE FINANCIAL STATEMENTS 54 FINANCIAL REPORT ALLUP SILICA Year Ending 30 June 2023 Note 14: Reserves (cont.) Options and Performance Rights on Issue Expiry date 2/11/2025 27/11/2027 27/11/2027 27/11/2027 Weighted average exercise price Weighted average contractual life remaining (months) Advisor Options Performance Rights Class A Performance Rights Class B Performance Rights Class C Exercise Price $0.2500 Opening 1 July 2022 5,000,000 - - - $0.2500 28 Issued - 1,000,000 1,000,000 1,000,000 - 53 Closing 30 June 2023 5,000,000 1,000,000 1,000,000 1,000,000 $0.2500 37.4 Note 15: Non-Cash Investing and Financing Activity 2023 $ 2022 $ Share based payment expense 57,732 344,582 Exploration and evaluation expense 324,942 - Shares issued for acquisition of tenement in Argyle - 106,000 Note 16: Capital Commitments Exploration Expenditure Commitments: The Company has minimum statutory commitments as at 30 June 2023 as conditions of tenure of certain granted exploration tenements of: Within 1 Year 1 to 5 Years Over 5 Years Total 2023 2022 2023 2022 2023 2022 2023 2022 Minimum expenditure commitments 150,000 155,000362,123 465,973 - - 512,123 620,973 Tenement Purchase Commitments: The Company has entered an agreement with Pathfinder Exploration Pty Ltd and Norvale Pty Ltd (“Sellers”) to purchase 100% of the Sellers right, title and interest in Tenement E80/5524. As per the terms of the agreement the Company has previously issued 530,000 fully paid ordinary shares to the Sellers as Initial Consideration Shares.(refer to Note 15).
RkJQdWJsaXNoZXIy MjE2NDg3