Aeris Annual Report 2022
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
<strong>Aeris</strong> Resources Limited<br />
Notes to the consolidated financial statements<br />
30 June <strong>2022</strong><br />
22. Financial instruments (continued)<br />
The consolidated entity has trade receivables with embedded derivatives for provisional pricing. These receivables are<br />
generally held to collect but do not meet the 'solely payments of principal and interest' (SPPI) criteria and as a result must<br />
be held at fair value through profit or loss (FVTPL). Subsequent fair value gains or losses are taken to the consolidated<br />
statement of comprehensive income. The historical loss rates are adjusted to reflect current and forward looking<br />
information on macroeconomic factors affecting the ability of the customers to settle the receivables and sensitivity<br />
applied to the exposure on commodity price risk. The impact was considered very minimal and as a result there was no<br />
loss rate accounted for at 30 June <strong>2022</strong>. Management will continue to monitor this position at each period end. There<br />
were also no credit losses provided for at 30 June <strong>2022</strong> .<br />
Liquidity risk<br />
Prudent liquidity risk management implies maintaining sufficient cash, liquid investments and committed credit facilities<br />
to meet the consolidated entity's commitments as they arise.<br />
Liquidity risk management covers daily, short-term and long-term needs. The appropriate levels of liquidity are<br />
determined by both the nature of the consolidated entity’s business and its risk profile.<br />
Remaining contractual maturities<br />
The following tables detail the consolidated entity's remaining contractual maturity for its financial instrument liabilities.<br />
The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on<br />
which the financial liabilities are required to be paid. The tables include both interest and principal cash flows disclosed<br />
as remaining contractual maturities and therefore these totals may differ from their carrying amount in the consolidated<br />
statement of financial position.<br />
Remaining<br />
1 year or less<br />
Between 1<br />
and 5 years Over 5 years<br />
contractual<br />
maturities<br />
<strong>2022</strong> $'000 $'000 $'000 $'000<br />
Non-derivatives<br />
Non-interest bearing<br />
Trade and other payables 56,709 - - 56,709<br />
Contingent consideration 4,975 17,041 - 22,016<br />
Interest-bearing - variable<br />
Loans 56 222 146 424<br />
Interest-bearing - fixed rate<br />
Lease liability 6,728 9,173 - 15,901<br />
Total non-derivatives 68,468 29,977 146 95,049<br />
Derivatives<br />
Commodity contracts - cash flow hedges 595 - - 595<br />
Total derivatives 595 - - 595<br />
AERIS ANNUAL REPORT <strong>2022</strong><br />
32<br />
108
Change language