Announcement PDF LEGACY MINERALS HOLDINGS LIMITED ABN 43 650 398 897 Interim Financial Report 31 December 2023 Legacy Minerals Holdings Limited Interim Financial Report 31 December 2023 Page 1 Corporate Directory Directors Website Dr David Carland – Non-Executive Chairman https://legacyminerals.com.au/ Christopher Byrne – CEO & Managing Director Securities Exchange Thomas Wall – Executive Director Matthew Wall – Non-Executive Director Douglas Menzies - Non-Executive Director Company Secretary and Chief Financial Officer Ian Morgan Australian Securities Exchange (ASX) ASX Codes: LGM and LGMO Securities Registry Automic Pty Ltd Level 5, 126 Phillip Street Registered Office Sydney NSW 2000 C/- Benbow & Pike Telephone Chartered Accountants (within Australia): 1 300 288 664 401/ 54 Miller Street (outside Australia): +61 2 9698 5414 North Sydney NSW 2060 Auditor Telephone +61 02 9959 3520 Site Office Nexia Sydney Audit Pty Ltd Level 22, 2 Market Street Sydney, NSW 2000 3/202 Russell Street Bathurst NSW 2795 Email info@legacyminerals.com.au Legacy Minerals Holdings Limited Interim Financial Report 31 December 2023 Page 2 CONTENTS CORPORATE DIRECTORY .................................................................................................................................. 2 CONTENTS ....................................................................................................................................................... 3 DIRECTORS’ REPORT ........................................................................................................................................ 4 CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME ...... 15 CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY .............................................................. 16 CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION ............................................................. 17 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS .......................................................................... 18 NOTES TO THE INTERIM FINANCIAL STATEMENTS ......................................................................................... 19 DIRECTORS’ DECLARATION ............................................................................................................................ 29 AUDITOR’S INDEPENDENCE DECLARATION.................................................................................................... 30 INDEPENDENT AUDITOR’S REVIEW REPORT .................................................................................................. 31 END NOTES .................................................................................................................................................... 33 Legacy Minerals Holdings Limited Interim Financial Report 31 December 2023 Page 3 DIRECTORS’ REPORT The directors of Legacy Minerals Holdings Limited (Company or Legacy) and its subsidiary (together referred to as the Group) present their report together with the consolidated financial report for the interim period 1 July 2023 to 31 December 2023 and the auditor’s review report thereon. DIRECTORS The directors of the Company did not change at any time during or since the end of the interim period. Dr David Carland Christopher Byrne Matthew Wall Thomas Wall Douglas Menzies Non-Executive Chairman CEO & Managing Director Non-Executive Director Executive Director and Exploration Manager Non-Executive Director REVIEW OF OPERATIONS Principal Activities Legacy Minerals Pty Limited (Legacy Minerals), the Company’s wholly owned subsidiary, has been involved in the acquisition and exploration of gold, copper, and base metal projects in the prospective New South Wales (NSW) Lachlan Fold Belt (LFB) since 2017. Legacy Minerals wholly owns 1,1829.9km2 of granted and unencumbered exploration licences in the LFB spanning six projects. The LFB, also known as the Lachlan Orogen, is a region considered to be a premier exploration and mining district and home to one of the largest gold mines in Australia, Cadia Valley NSW (Newcrest). Review of Operations The Group recorded a net loss attributable to members for the interim period ended 31 December 2023 of $108,784 (December 2022: $502,186). Exploration 1 Black Range Project The Black Range Project is located in the Lachlan Fold Belt of NSW, which hosts world-class copper-gold orebodies including the Cadia-Ridgeway, Northparkes and Cowal Mines. Following the receipt of highly encouraging petrographic results early in the reporting period, Legacy Minerals undertook detailed mapping and sampling programs at the Black Range Project during the half-year period, the results from which highlighted significant potential to discover a major low sulphidation epithermal goldsilver system at the key Sugarbag Hill target. 1 Also refer to End Notes on page 33. Legacy Minerals Holdings Limited Interim Financial Report 31 December 2023 Page 4 DIRECTORS’ REPORT Petrographic Analysis In October 2023, Legacy Minerals announced results from petrographic analysis (the microscopic study of the mineral content and the textural relationships within rocks) of rocks collected over the Black Range Project identified widespread silica sinter lithology at the Sugarbag Hill Prospect. Sinter is a silica-rich sedimentary rock that is precipitated at or near surface from hot waters at the vents of hot springs and geysers. The presence of widespread sinter over 4km is interpreted to represent the top of a preserved low-sulphidation epithermal gold-silver system at depth below Sugarbag Hill. Over 30km of under-explored strike remains between known epithermal occurrences at Black Range, including high-priority target areas with known large silica-rich lithologies. Full details of the petrographic analysis were provided in the Company’s ASX Announcement on 11 October 2023. Soil and Rock-Chip Sampling Program Reconnaissance rock chip sampling and systematic soil geochemical sampling programs were completed over the Sugarbag Hill Prospect, the first of Legacy’s high-priority prospects at the Black Range Project, during the half-year period. Assays results confirm the presence of low-sulphidation epithermal gold-silver mineralisation at Sugarbag Hill, with reconnaissance rock chip samples reporting grades of up to 2.27g/t Au, 29.6g/t Ag, 176.5ppm Mo, 40.6ppm Sb and 3,370ppm As.ii The soil sampling results at Sugarbag Hill have mapped: • • A 3.5km x 1.2km zone of elevated low-sulphidation epithermal Au-Ag pathfinder elements; and A 2.1km long gold trend >20ppb Au (up to 296ppb Au). The first-pass soil sampling geochemical survey comprised 487 samples across a zone of silica-sericite-pyrite altered rocks and wider known silica-sinter related lithology. The soil sampling program was completed across 5km2 of the Project on a 100m x 100m grid. The program was designed to assess the potential for mineralisation around recently identified silica-sinter lithology and to confirm historical surface sampling by Newcrest that indicated high-tenor gold anomalism.ii This work will vector towards potential high-grade gold-silver bearing ore shoots in low-sulphidation epithermal-style quartz veins within mapped mineralised trends for future drill testing, and to assess the broader tenement area for previously unrecognised gold-silver mineralisation. Laboratory assays reported from ALS Orange and Brisbane were analysed for 53 elements. Low-sulphidation epithermal-style gold-silver deposits typically have distinct geochemical pathfinder element signatures that provide insight to the depth of erosion and preservation level of the system. Legacy Minerals Holdings Limited Interim Financial Report 31 December 2023 Page 5 DIRECTORS’ REPORT The soil sampling results have delineated extensive zones of elevated gold and silver as well as other pathfinder elements including Sb, As, Hg, Mo, Se and Tl. Peak results reported from soil samples assay results include: 296ppb Au, 3.12ppm Ag, 1140ppm As, 99.2ppm Mo and 15ppm Sb. The results returned multiple areas of anomalous gold-silver and/or pathfinder element associations interpreted to reflect low-sulphidation epithermal-style gold-silver mineralised veins and alteration. The anomalous results indicate that the epithermal system remains open in all directions. Re-processing of historical geophysics Legacy Minerals completed a review of the historical geophysical data at the Sugarbag Hill Prospect during the half-year period, incorporating several historical exploration data sets, many of which are believed to have been collated for the first time. The datasets included recent airborne magnetics and radiometric surveys, as well as older ground magnetics, and IP surveys. In particular, the re-processing of historical gradient array induced polarisation (GA-IP) and Dipole-Dipole Induced polarisation completed by Newcrest Mining in 1992 at the Sugarbag Hill Prospect have provided highly valuable datasets.iii GeoDiscovery Pty Ltd was engaged to remodel the historical data. The results from this work highlighted that the known low-sulphidation epithermal pathfinder geochemical anomalism, identified in recently acquired soil and rock chip samples (see above) is coincident with the resistivity trends identified in the GA-IP survey. This is coincident with the location where the modelled DPDP-IP resistive features, present on line 200S, reach the surface. Of particular interest is the strong gold-silver soil anomaly that trends over 800m averaging 107.5ppb Au. These higher resistivity features are interpreted to be excellent drill targets and the importance of subtle increases in chargeability within these zones may be significant, and possibly reflect an increase in disseminated sulphides such as pyrite at depth. A large coincident resistivity and chargeability feature on Line 1000N is of particular interest, however further work is required to ground truth this anomaly to ensure it is not a cultural feature. Shallow percussion drilling (50m to 100m) was completed in the past at Sugarbag Hill by Newcrest Mining. However, these drill-holes were often orientated vertically with the intent of intersecting lithology as perpendicular as possible. As such, drilling is interpreted to have drilled parallel to, or down-dip of, the interpreted vertical to steeply dipping veins. Therefore, the historical drilling is considered to have not adequately tested the surface gold anomalism and coincident zones of elevated resistivity. Both the size of the target area and the substantial number of epithermal targets generated at Sugarbag Hill provide an exciting opportunity for the Company. Legacy Minerals Holdings Limited Interim Financial Report 31 December 2023 Page 6 DIRECTORS’ REPORT Figure 1. Gold results in soil surface geochemistry overlain by historic DPDP-IP line locations.ii Figure 2: 200S dipole-dipole IP Line resistivity model showing target zones at Sugarbag Hill coincident with gold results in surface soil samples and mapped silica-sinter related lithology, looking north.iii Legacy Minerals Holdings Limited Interim Financial Report 31 December 2023 Page 7 DIRECTORS’ REPORT Bauloora Project The Bauloora Project (EL8995 and EL9464) is located in the world-class Lachlan Fold Belt of New South Wales and covers a large hydrothermal alteration zone spanning 27km2. Within this broader alteration zone sits an anomalous gold zone currently mapped to 15km2. The Bauloora Project is subject to a Farm-In and Joint Venture agreement secured with Newmont Exploration Pty Ltd in 2023. During the half-year period, diamond drilling at the Bauloora Project intersected multiple epithermal-style veins at the Breccia Sinter Prospect, with visual analysis suggesting the drilling hit the top of a “boiling zone”, which may suggest the presence of a preserved epithermal system at depth. Diamond Drilling Programiv At the Breccia Sinter Prospect, three diamond-cored drill holes were completed to test a 500m by 250m long gold-silver (Au-Ag) bearing low sulphidation epithermal vein zone. A large zone of elevated gold, silver and pathfinder elements was defined in last year’s soil and extensive rock chip sample collection program, which returned gold and silver grades up to 32.2g/t Au and 196/t Ag in rock chip samples. In addition, a strong audiofrequency magnetotelluric (AMT) resistivity anomaly underlies the mapped surface sinter adding further encouragement to the geochemical signatures and results in compelling drill targets. Low-sulphidation epithermal-style veins were intersected in both drill holes. Preliminary geological observations indicate that these holes intersected host rocks that are variably altered rhyolites, conglomerate, volcaniclastic and tuffs. Broad zones of chlorite-sericite hydrothermal alteration are observed distal to structures and moderate to intense sericite-hematite or silica-sericite alteration proximal to epithermal-style veins. Drill-hole BX001 intersected a 66m thick conglomerate package before intersecting a healed fault zone characterised by strong-intense sericite-pyrite altered porphyritic rhyolite from 126.3m to 182m with common chalcedony (+/-pyrite-adularia) veins and silicified tectonic breccia with lesser veins of crustiform-colloform chalcedony-quartz (+/- pyrite, hematite, galena and low-Fe sphalerite) veins. Minor quartz-carbonate +/chalcopyrite, galena, low-Fe sphalerite veins are also observed throughout the drill hole. Drill-hole BX002 intersected two zones of frequent low-sulphidation epithermal-style veins interpreted to represent the top of the targeted boiling zone between 325m to 342m and 347m and 361m. Veins are crustiform-colloform banded chalcedony-adularia veins with common moss and fibrous quartz-adularia textures. Lattice bladed adularia and quartz after platy calcite is observed in some bands and occasional dark grey to black bands, of fine sulphide-rich bands dominated by marcasite and pyrite. Brecciated veins are common and are generally associated with further chalcedony (+/- hematite) in-fill and cockade textures. There is occasional overprinting by chalcedony-base metal (sphalerite-galena) veins. Observations in the BX002 core samples are consistent with the hot spring depositional model used as a basis for exploration on the project. Legacy Minerals Holdings Limited Interim Financial Report 31 December 2023 Page 8 DIRECTORS’ REPORT The mineralogy and textures are consistent with the upper part of the boiling zone, which is commonly well mineralised especially near and in hydrothermal breccias. These observations give encouragement to test further along strike and at depth. The narrow zones of multi-phase hydrothermal breccias and veins may represent the periphery or top of the breccia body and therefore the start of the transition to a vein (over breccia) dominant character. The diamond drill-holes have confirmed low-sulphidation epithermal-style veins down-dip from elevated gold, silver and pathfinder rock chip and soil geochemical results, and mapped veins. Preliminary down-hole structural observations from these holes show veins strike north to north-north-east and steeply west dipping (80o-85o) veins and breccias and though true widths are not yet known, they are estimated to be 70% of the rock down hole. The vein trend remains open along strike and down dip. Drake Project During the half-year period, the Drake Copper-Gold Exploration Licence EL6273 was transferred from White Rock Minerals (WRM) Pty Ltd and EL9616 was granted to the Company. The Drake Project (EL6273 and EL9616) sits within the highly prospective New England Fold Belt (NEFB) and is one of a number of epithermal gold, silver, base metal districts that formed along the east coast of Australia during the Permian age as back arc extensional volcanic basins. A number of major mines and deposits occur within the NEFB including the Cracow gold mine (2.5Moz Au @ 4.97g/t)i, Mt Carlton gold mine (8.5Moz Au)ii and Mt Rawdon gold mine (2Moz Au)iii and the Mt Carrington Mine which the Drake Project surrounds. Legacy Minerals Holdings Limited Interim Financial Report 31 December 2023 Page 9 DIRECTORS’ REPORT Figure 3: Aerial View of the Cliff Workings and Red Rock Mine (ML) from the exploration licence Fontenoy Project Drilling was ongoing at the Fontenoy Project (Earth AI Exploration Alliance) at the end of the reporting period, with assays expected in early 2024. The Earth AI team have steadily worked on building a greater understanding of the Fontenoy geology. Detailed mapping, petrographic studies and soil and rock chip analysis have been completed throughout the latest field campaigns. In following up indications of anomalous copper, nickel and platinum group element mineralisation, pentlandite (nickel-iron sulphide) has been identified for the first time in fresh rock. Ni-laterites have been previously identified at Fontenoy and were the focus of previous nickel-cobalt exploration drilling. These residual deposits were thought to have been formed as a result of serpentinite weathering solely and, as such, the exploration for nickel-iron sulphides did not occur. The recognition of Nisulphides in association with copper and platinum group elements (PGEs) highlights the prospectivity of the Fontenoy Project for Ni-Fe sulphide deposits and presents an opportunity for the Company to be the first to apply exploration methods and systems thinking for this style of mineralisation. Legacy Minerals Holdings Limited Interim Financial Report 31 December 2023 Page 10 DIRECTORS’ REPORT Further to this encouraging observation, the field team is also recognising complexities and zonation patterns within the mafic intrusive units that have previously been unrecognised in the mapped Ordovician Moonbilleen gabbro. Understanding the zonation within these mafic intrusive complexes is a key factor in focusing drill targets for nickel sulphides and for other battery metal elements such as scandium and cobalt as seen at the nearby Sunrise Project (ASX:SRL)iv. Figure 4: Fontenoy map showing the recent rock chip locations and historic drilling v Legacy Minerals Holdings Limited Interim Financial Report 31 December 2023 Page 11 DIRECTORS’ REPORT SUBSEQUENT EVENTS There are no matters or circumstances that have arisen since the end of the period which significantly affected, or may significantly affect, the operations of the Group, the results of these operations or the Group’s state of affairs in future financial periods, excepting: Entitlement Offer The Company raised $1,604,806 in accordance with its entitlement offer. Full details of the entitlement offer are in the Company’s ASX announcement dated 29 November 2023 and Prospectus released on 4 December 2023. The Company made a non-renounceable pro rata entitlement offer to eligible shareholders on the basis of 1 Share for every 7 Shares held on the record date at an issue price of $0.135 per share to raise $1,604,806 (before costs), together with one attaching new option (exercisable at $0.205 each on or before 22 January 2026) (LGMO Option) issued for no further consideration for every two shares subscribed for and issued. LGMO Options were issued subject to ASX approval of the options having minimum spread, in accordance with the ASX Listing Rules. ASX approval was received on 16 February 2024, so the LGMO Options are quoted on the ASX. Date 25 January 2024 5 February 2024 TOTAL Shares Options Shares Options Shares 4,666,186 2,333,052 7,221,267 3,610,627 11,887,453 Funds raised before capital raising costs $ 629,935 974,871 1,604,806 Options 5,943,679 - Equity Securities Number Placement On 11 December 2023, the Company placed 10,355,375 ordinary fully paid shares for $0.135 each within the limits of ASX Listing Rules 7.1 and 7.1A (25% of ordinary fully paid shares on issue without shareholders’ approval), and otherwise on the same terms as the Company’s entitlement offer. The issue of LGMO Options under the Company’s placement required shareholders’ approval before they could be issued. On 7 February 2024, pursuant to and in accordance with Listing Rule 7.1 and for all other purposes, shareholders approved the issue of up to 5,177,688 placement LGMO Options to the placement participants. On 16 February 2024 the Company issued 5,177,672 LGMO Options to placement participants. Legacy Minerals Holdings Limited Interim Financial Report 31 December 2023 Page 12 DIRECTORS’ REPORT Underwriter Options The issue of LGMO Options to the underwriter of the Company’s entitlement offer required shareholders’ approval before they could be issued. On 7 February 2024, pursuant to and in accordance with Listing Rule 7.1 and for all other purposes, shareholders approved the issue of up to 3,962,484 LGMO Options to the underwriter (or its nominees). On 16 February 2024 the Company issued 3,962,461 LGMO Options to the underwriter (or its nominees). The fair value of each LGMO Option is $0.017, calculated using the market price at the date of issue. Subsequent to 31 December 2023, $67,362 is included within transaction costs of issued capital. Lead Manager Options The issue of LGMO Options to the lead manager of the Company’s placement and entitlement offer required shareholders’ approval before they could be issued. On 7 February 2024, pursuant to and in accordance with ASX Listing Rule 7.1 and for all other purposes, shareholders approved the issue of 4,000,000 LGMO Options to the lead manager (or its nominees). On 16 February 2024 the Company issued 4,000,000 LGMO Options to the lead manager (or its nominees). The fair value of each LGMO Option is $0.017 calculated using the market price at the date of issue. Subsequent to 31 December 2023, $68,000 is included within transaction costs of issued capital. Glenlogan (Cowra) Project Joint Venture As announced on 29 January 2024, S2 Resources (ASX: S2R, or “S2”) and the Company have entered a A$6 million farm-in and joint venture agreement at the Company’s Glenlogan (Cowra) Project (EL9614), located in NSW, Australia: • • Key Joint Venture Terms – Exploration o S2 can spend $6 million over 5 years to earn a 70% interest in EL9614 in two stages:  Stage 1 – $2 million over 2 years to earn a 51% interest; and  Stage 2 – $4 million over 3 years to earn a further 19% interest. o Minimum commitments include 1,200m of diamond drilling in Stage 1 and 8,000m in Stage 2. Key Joint Venture Terms – Pathway to Mining o At the decision to progress towards mining and completion of stage 2, the Company has the option:  to retaining it its 30% interest level and contribute or be diluted; or  be 20% loan-carried interest to be repaid through future production revenue. LEAD AUDITOR’S INDEPENDENCE DECLARATION UNDER SECTION 307C OF THE CORPORATIONS ACT 2001 The lead auditor’s independence declaration is set out on page 30 and forms part of the Directors’ Report for the interim period ended 31 December 2023. Legacy Minerals Holdings Limited Interim Financial Report 31 December 2023 Page 13 DIRECTORS’ REPORT ROUNDING OFF The Company is not of a kind referred to in ASIC Corporations Instrument 2016/191 dated 1 April 2016 and as such, amounts in the interim financial statements and directors’ report have been reported to the nearest dollar, unless otherwise stated. COMPETENT PERSON’S STATEMENT The Information in this report relating to Mineral Resources and Exploration Results is extracted from reports lodged as market announcements and available to view on the Company’s web-site https://legacyminerals.com.au/ The Company confirms that it is not aware of any new information that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. Signed in accordance with a resolution of the Board of directors: Dr David Carland Chairman Sydney 15 March 2024 Legacy Minerals Holdings Limited Interim Financial Report 31 December 2023 Page 14 CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME INTERIM PERIOD ENDED 31 DECEMBER 2023 Note Income Other income 2023 $ 2022 $ 1 (e) 405,183 405,183 - Expenses Administration expenses 1 (f) (513,967) (513,967) (502,186) (502,186) (108,784) (108,784) (502,186) (502,186) (108,784) (502,186) Cents (0.13) (0.13) Cents (0.66) (0.66) Loss before income tax Income tax benefit Net loss attributable to members of the parent Other comprehensive income for the interim period, net of income tax Total comprehensive loss for the interim period Loss per share – basic Loss per share – diluted 3 (b) 3 (b) The condensed notes on pages 19 to 28 are an integral part of these interim financial statements. Legacy Minerals Holdings Limited Interim Financial Report 31 December 2023 Page 15 CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY INTERIM PERIOD ENDED 31 DECEMBER 2023 Note Balance at 1 July 2023 Loss for the half year Other comprehensive income Total comprehensive loss for the half year Transaction with owners in their capacity as owners: Issue of shares Cost of equity transactions Share-based payments cost of equity Balance at 31 December 2023 Balance at 1 July 2022 Loss for the half year Other comprehensive income Total comprehensive loss for the half year Transaction with owners in their capacity as owners: Issue of shares Cost of equity transactions Share-based payments cost of equity Balance at 31 December 2022 Ordinary fully paid shares $ Share based Accumulated payment losses reserve $ $ Total Equity $ 8,273,095 - 658,386 - (3,903,701) (108,784) - 5,027,780 (108,784) - - - (108,784) (108,784) 1 (g) 1,397,976 (93,389) - - 1,397,976 (93,389) 1 (h) - - - - 1 (g) (93,389) 9,577,682 658,386 (4,012,485) (93,389) 6,223,583 7,200,380 - 617,105 - (2,956,990) (502,186) - 4,860,495 (502,186) - - - (502,186) (502,186) 1 (g) 1,205,500 (91,504) - - 1,205,500 (91,504) 1 (h) (41,281) 41,281 - - 1 (g) (132,785) 8,273,095 41,281 658,386 (3,459,176) (91,504) 5,472,305 The condensed notes on pages 19 to 28 are an integral part of these interim financial statements. Legacy Minerals Holdings Limited Interim Financial Report 31 December 2023 Page 16 CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2023 Note 31 December 2023 $ 30 June 2023 $ 1,601,475 1,039,013 20,000 2,660,488 1,624,431 62,234 42,010 20,000 1,748,675 188,432 4,096,847 162,000 200,000 4,647,279 141,630 3,704,083 146,000 3,991,713 7,307,767 5,740,388 1,041,485 42,699 1,084,184 666,582 46,026 712,608 - - Total liabilities 1,084,184 712,608 Net assets 6,223,583 5,027,780 9,577,682 658,386 (4,012,485) 6,223,583 8,273,095 658,386 (3,903,701) 5,027,780 Current assets Cash and cash equivalents Trade and other receivables Exploration and evaluation asset held for sale Other current assets Total current assets Non-current assets Plant and equipment Exploration and evaluation assets Tenement deposits Financial Assets Total non-current assets 1 (i) 1 (e) 1 (j) 1 (k) 1 (e) Total assets Current liabilities Trade and other payables Employee benefits Total current liabilities 1 (l) Total non-current liabilities Equity Issued capital Share based payment reserve Accumulated Losses Total Equity 1 (g) 1 (h) The condensed notes on pages 19 to 28 are an integral part of these interim financial statements. Legacy Minerals Holdings Limited Interim Financial Report 31 December 2023 Page 17 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS INTERIM PERIOD ENDED 31 DECEMBER 2023 2023 2022 $ $ 81,748 - Payments to suppliers and employees (652,514) (417,786) Net cash used in operating activities (570,766) (417,786) 60,000 - (78,778) (6,424) Payments for exploration and evaluation assets (337,559) (795,137) Bauloora Farm-In and Joint Venture payments (1,186,824) - (66,000) (30,000) - (2,760) (1,609,161) (834,321) Bauloora Farm-In and Joint Venture receipts 802,891 - Grant funding receipts 48,075 - 1,397,976 1,205,500 Payments for capital raising costs (91,971) (5,775) Net cash generated from financing activities 2,156,971 1,199,725 Net decrease in cash and cash equivalents (22,956) (52,382) Cash and cash equivalents at 1 July 1,624,431 2,765,670 Cash and cash equivalents at 31 December 1,601,475 2,713,288 Note Cash flows used in operating activities Receipts from customers Cash flows used in investing activities Receipts from the disposal of tenements Payments for plant and equipment 1 (j) Payments for tenement deposits Payment for rental deposit Net cash used in investing activities Cash flows from financing activities Proceeds from capital raising 1 (g) The condensed notes on pages 19 to 28 are an integral part of these interim financial statements. Legacy Minerals Holdings Limited Interim Financial Report 31 December 2023 Page 18 NOTES TO THE INTERIM FINANCIAL STATEMENTS 1. KEY FINANCIAL INFORMATION AND PREPARATION BASIS (a) Reporting Entity Legacy Minerals Holdings Limited (Company) is a company domiciled in Australia. These condensed consolidated interim financial statements (“interim financial statements”) as at and for the interim period ended 31 December 2023 comprise the Company and its subsidiary (together referred to as the “Group”). Legacy Minerals Pty Limited (Legacy Minerals), the Company’s wholly owned subsidiary, has been involved in the acquisition and exploration of gold and copper projects in the prospective New South Wales (NSW) Lachlan Fol