9 FINANCIAL REPORT ALLUP SILICA Year Ending 30 June 2023 ALLUP SILICA LIMITED DIRECTORS’ REPORT Your directors present their report on Allup Silica Limited (“the Company”) for the financial year ended 30 June 2023. The information in the preceding operating review forms part of this directors’ report for the financial year ended 30 June 2023 and is to be read in conjunction with the following information: Directors The names of the directors in office at any time during, or since the end of the year are: (John) Campbell Smyth Andrew John Haythorpe Gavin Neil Ball Nicholas Gerard Revell (resigned 7 March 2023) Directors have been in office since the start of the financial year to the date of this report unless otherwise stated. Particulars of each director’s experience and qualifications are set out later in this report. Principal Activities The Company conducts mineral exploration and evaluation activities. Operating Results The after-tax loss of the Company for the financial year amounted to $1,645,916 (2022: Loss $891,140). This included a non-cash expense of $57,723 for share-based payments (2022: $344,582). Review of Operations The Company’s commercial strategy is based upon the investigation of several project areas, each with its own set of logistics and port options. Currently, the Company has multiple projects in proximity to four Western Australian ports, being Wyndham in the north of the State, and Bunbury, Albany and Esperance in the south. The main activities during the period relate to seeking the permits and approvals required for the exploration of the Company’s various silica sand projects. During this period the Company has engaged with many project stakeholders, including government, landowners, and Native Title parties. The Company has focused on advancing its Sparkler Silica Sands Project, with ongoing exploration and updating of its JORC Minerals Resource Estimations. It also sought the approvals required for further exploration of areas at nearby Sparkler B and Sparkler C.
RkJQdWJsaXNoZXIy MjE2NDg3