Announcement PDF ABN 72 627 735 531 Half-Year Financial Report for the half-year ended 31 December 2023 TABLE OF CONTENTS Corporate Directory 2 Directors’ Report 3 Auditor’s Independence Declaration 19 Consolidated Statement of Profit or Loss and Other Comprehensive Income 20 Consolidated Statement of Financial Position 21 Consolidated Statement of Changes in Equity 22 Consolidated Statement of Cash Flows 23 Notes to the Consolidated Financial Statements 24 Directors’ Declaration 30 Independent Auditor’s Review Report 31 1|P a g e CORPORATE DIRECTORY Culpeo Minerals Limited is an Australian listed company focused on the acquisition, exploration and development of commercially significant resource projects in Chile, with a focus on copper. For more details visit www.culpeominerals.com.au. DIRECTORS Mr Geoffrey McNamara (Non-Executive Chairman) Mr Maxwell Tuesley (Managing Director) Mr Zeffron Reeves (Non-Executive Director) Mr Paul Schmiede (Non-Executive Director) COMPANY SECRETARY Ms Sue Wong REGISTERED OFFICE c/- Source Services Level 48 Central Park 152 – 158 St Georges Terrace PERTH WA 6000 AUDITORS RSM Australia Partners Level 32 Exchange Tower 2 The Esplanade PERTH WA 6000 SHARE REGISTRAR Computershare Investor Services Pty Ltd Level 17, 221 St Georges Terrace PERTH WA 6000 Telephone: (08) 9323 2000 Website: www.computershare.com.au SECURITIES EXCHANGE LISTING Australian Securities Exchange Limited (Home Exchange: PERTH, Western Australia) Code: ASX: CPO, CPOO OTCQB: CPORF 2|P a g e Culpeo Minerals Limited Directors’ Report The Directors present their report, together with the financial statements, of the consolidated entity (referred to hereafter as the “consolidated entity” or the “Group”) consisting of Culpeo Minerals Limited (referred to hereafter as the “Company”, “Culpeo” or “parent entity”) and the entities it controlled at the end of, or during the half-year ended 31 December 2023 (“Reporting Period"). Directors The following persons were Directors of Culpeo Minerals Limited who held office during or since the end of the half-year and until the date of this report are as below. Directors were in office for this entire period. Mr Geoffrey McNamara Mr Maxwell Tuesley Mr Zeffron Reeves Mr Paul Schmiede Non-Executive Chairman Managing Director Non-Executive Director Non-Executive Director Principal activities The principal activities of the Company and its subsidiaries are the acquisition, exploration and development of commercially significant resource projects in Chile, with a focus on copper. Operating results The loss, after tax and non-controlling interest, attributable to the Group for the financial half-year ended 31 December 2023, amounted to $1,446,983 (2022: $994,079). 3|P a g e Culpeo Minerals Limited Directors’ Report REVIEW OF OPERATIONS Overview Culpeo Minerals Limited (Culpeo or the Company) is a copper exploration and development company with project interests in Chile, the world’s largest copper producing country (Figure 1). The Company is focused on the exploration and development of high-grade copper systems in the coastal Cordillera region. Culpeo’s key activities during the half-year period ended 31 December 2023 were focused on initial exploration of the recently acquired Fortuna Project (Fortuna) and the continued exploration of the Lana Corina Copper-Molybdenum Project (Lana Corina). Figure 1: Regional map showing location of new Fortuna concessions adjacent to the Lana Corina Project. 4|P a g e Culpeo Minerals Limited Directors’ Report (For the Lana Corina Drilling Results, refer to ASX announcements; 11 May 2022, 6 June 2022 and 23 November 2022, Vaca Muerta historic sampling results refer to ASX announcement 7 August 2023; El Quillay North historic sampling results refer to ASX announcement 11 September 2023; Piedra Dura sampling results refer to ASX announcement 1 November 2023 and 12 December 2023; Lucero recent sampling results refer to ASX announcement 21 November 2023 and La Florida results refer ASX announcement 4 January 2024), (Refer page 18 for copper equivalent calculation methodology). Fortuna Project In August 2023, Culpeo acquired an 80% interest in the Fortuna Project, located approximately 10km north of the Company’s Lana Corina Copper and Molybdenum Project (Figure 1) (refer to ASX Announcement dated 7 August 2023). The acquisition was via the exercise of an option agreement with private Chilean company Inversiones Em Dos Limitada. The agreement involved no upfront consideration, with acquisition costs to be made monthly over a five-year period totalling US$600,000. Culpeo further increased its land package at Fortuna by 2,250 hectares in October 2023, resulting in a total district footprint of 4,025 hectares (refer to ASX Announcement dated 4 October 2023). The new tenement area contains numerous historic mine shafts and small-scale mining sites that previously exploited surface copper mineralisation. A preliminary geological assessment of the surface geology shows that the new tenure area displays similar lithologies and alteration types observed at Fortuna and Lana Corina, indicating that the area is highly prospective for hosting high-grade copper mineralisation. As at the end of the period, seven high priority outcropping prospects were identified at Fortuna: Vaca Muerta, Piedra Dura, La Florida, El Quillay North, El Quillay Central, El Quillay South and Lucero. With the acquisition and subsequent expansion of the Fortuna Project, Culpeo significantly increased the Company’s copper exploration landholdings by more than 800% in the coastal metallogenic belt of Chile. 5|P a g e Culpeo Minerals Limited Directors’ Report Figure 2: Plan view of the Fortuna Project. (For the historic Vaca Muerta sampling results refer to ASX announcement 7 August 2023. For the historic El Quillay North sampling results refer to ASX announcement 11 September 2023, For the Piedra Dura sampling results refer to ASX announcement 1 November 2023 and 12 December 2023, Lucero recent sampling results refer to ASX announcement 21 November 2023, and La Florida results refer ASX announcement 4 January 2024) El Quillay Prospect Areas The El Quillay Prospect area covers a >3km long regional fault zone in an area previously exploited by both open cut and underground mining. Mineralisation is present as a series of sub-parallel structures with elevated levels of copper, gold and silver. Mineralised zones are hosted within andesitic lithologies (Figures 3 and 4) and show hydrothermal alteration present as sericite, albite-adularia, chlorite-epidote and hematite (specularite). Along the mineralised regional structure at El Quillay, three prospect areas have been identified (El Quillay North, El Quillay Central and El Quillay South), with multiple mineralised zones recognised in each area. The zones measure up to 1,000m long, 50m wide and 100m deep (Figure 3). 6|P a g e Culpeo Minerals Limited Directors’ Report Figure 3: Plan view of the El Quillay Prospect showing drilling results and surface sampling highlights (ASX Announcement 17 January 2024) (CMEQD002 results refer to ASX announcement 17 January 2024, El Quillay Central and South historic sampling results refer ASX announcement 17 January 2024, El Quillay North historic sampling results refer to ASX announcement 11 September 2023, Piedra Dura recent sampling results refer to ASX announcement 1 November 2023 and 12 December 2023) 7|P a g e Culpeo Minerals Limited Directors’ Report Figure 4: Surface geology map of El Quillay North showing the position of mineralised zones and historic mine workings (ASX Announcement 11 September 2023). Between 1950 and 1960, and more recently in the 1990’s, the mineralisation at El Quillay North has been exploited by small scale mining activities both from the surface and underground. Several shafts were sunk to a maximum depth of 80 metres, extracting predominantly sulphide mineralisation in the form of chalcopyrite and bornite. Historic mapping and sampling programs were undertaken in the area, with 294 samples taken from both the surface and underground (Figure 5). Drilling commenced during the period at El Quillay North, testing the extent of this mineralisation. A broad 40m zone of copper mineralisation was subsequently intersected from 15m, including an approximate 25m downhole zone of very strong copper sulphide mineralisation from 30m (CMEQD002) (ASX announcement 19 December 2023). This provided visual confirmation that the high-grade coppergold mineralisation recognised from historic underground sampling (refer ASX announcement 11 September 2023) extends down plunge and remains open in all directions. A 23m zone of copper mineralisation from 20m down hole was also intersected in diamond hole CMEQD001 (ASX announcement 19 December 2023). Post mineralisation faulting was logged at 36m downhole and future drilling will target offsets to mineralisation to the east and west. In both holes the near surface mineralisation was dominated by malachite and chrysocolla. In the primary zone the main copper mineralisation was in the form of chalcopyrite and to a lesser extent bornite. 8|P a g e Culpeo Minerals Limited Directors’ Report Figure 5: Cross Figure 5: section through the El Quillay North Prospect showing widths of mineralisation and results including drill hole CMEQD002 (ASX Announcement 17 January 2024). During the period, Culpeo also completed a stockpile sampling program at El Quillay North which consisted of 5 random grab samples of approximately 2kg to 3kg each from across the exposed portions of stockpiles at the prospect. Results confirmed the high-grade nature of the material mined at El Quillay, with grades of up to 3.69% Cu returned (ASX announcement 6 December 2023). Mineralisation in the stockpiles was both oxide and primary (sulphide) in nature with malachite, chalcopyrite and bornite identified. Subsequent to the end of the period, results were returned from the first drill hole of the maiden drilling program confirming shallow, wide copper mineralisation. Significant intercepts included: • 5.8m @ 0.78% CuEq from 15.2m; and • 26m @ 0.81% CuEq from 29m, including 4m of 1.87% CuEq from 51m (refer to ASX Announcement dated 17 January 2024). Drill core from the second hole at El Quillay North, CMEQD001, was submitted for analysis with assay results pending. 9|P a g e Culpeo Minerals Limited Directors’ Report Lucero Prospect The Lucero Prospect is located 1.3km north of El Quillay and was discovered subsequent to Culpeo’s acquisition and extension of the Fortuna Project. The structurally controlled outcropping copper mineralisation was delineated over 950m of strike and observed to span up to 60m width (refer Figure 6). Copper grades of up to 5.37% Cu were returned with 50% of samples returning above 2% Cu (refer to ASX Announcement dated 21 November 2023), this area of Fortuna shows potential for a significant copper mineralisation. The discoveries present as two sub-parallel mineralised zones striking north-west and remaining open. A total of 36 rock chip samples were collected, three of which contained very high-grade content of malachite, bornite and chalcopyrite copper mineralisation assaying between 4 and 5% Cu (refer ASX announcement 21 November 2023). As at the end of the period with the addition of Lucero, Culpeo had identified seven total prospect areas at the Fortuna Project since the acquisition. Figure 6: Plan view of the Lucero Prospect, Fortuna Project (ASX Announcement 21 November 2023). Piedra Dura Prospect Piedra Dura is located west of El Quillay in a parallel structural corridor exhibiting structurally controlled copper mineralisation over at least 500m of strike and up to 50m wide. The copper oxide mineralisation at Piedra Dura has been historically exploited with both surface and underground mining. 10 | P a g e Culpeo Minerals Limited Directors’ Report The field program at Fortuna commenced in early October, with the initial collection of 47 rock chip samples, focussed on the main Piera Dura mineralised corridor. Rock chip samples were taken within an area 1.1km long striking north-west to south-east and 100m across-strike, east-west. During the program, several parallel zones of alteration and mineralisation were mapped. Of the initial 47 samples collected, 31 returned high-grade copper results >1% Cu including a single sample of 4.16% Cu (CPO0008562) from within a brecciated volcanic unit (refer to ASX Announcement dated 1 November 2023). High-grade gold results were also returned with up to 48.3g/t Au from sample CPO0008539 (refer to ASX Announcement dated 1 November 2023). Figure 7: Plan view of the Piedra Dura Prospect showing surface sampling copper results (ASX Announcement 12 December 2023). A follow-up surface sampling program was completed in November 2023 with the collection of a further 27 rock chip samples targeting extension of the known Piedra Dura mineralisation to both the north and east. Of the 27 samples collected, 11 returned high-grade copper results >2% Cu including a sample of 9.78% Cu and 7.52g/t Au (CPO0008661) from within a gossanous shallow dipping structure, strongly mineralised with secondary copper minerals including malachite, azurite and covellite (refer to ASX Announcement dated 12 December 2023). High-grade gold results accompanied the significant copper mineralisation with sample number CPO0008659 returning 13.4g/t Au and 6.04% Cu (refer to ASX Announcement dated 12 December 2023). 11 | P a g e Culpeo Minerals Limited Directors’ Report It is clear from the assay results that the western portion of Culpeo’s Fortuna Project, which includes Piedra Dura, is highly prospective for copper and gold mineralisation. The recent rock chip sampling extends mineralisation 400m to the north and 150m to the east with the target structure remaining open to the north and south. Vaca Muerta Prospect Vaca Muerta includes, a series of outcropping structurally controlled, breccia hosted mineralised bodies, significantly enriched in Cu and Ag. Mineralisation is located within a corridor approximately 1,000m long and 500m wide (Figure 8), and hosted within porphyritic volcanic rocks displaying strong albite alteration presenting as replacement of plagioclase and as veinlets and small clusters accompanied by quartz. Surface copper rich zones have individual lenses displaying lengths from 400m to 800m, and widths of 25m to 150m, mapping and sampling of historic underground workings has shown mineralisation to be present to at least 100m below the surface and open at depth. Historic channel sampling has returned significant widths and grades of copper mineralisation (refer to ASX Announcement dated 7 August 2023) including: • 150m @ 1.31% CuEq; • 101.5m @ 1.25% CuEq; and • 172.5m @ 0.86% CuEq. Copper mineralisation is present as outcrop in the form of chrysocolla and malachite transitioning into chalcopyrite and bornite in the primary sulphide zone. The oxide zone is approximately 25m in depth, below which the primary sulphides extend to >100m. During the period, Culpeo commenced diamond drilling at the Vaca Muerta Prospect, targeting mineralisation below historic channel samples, including 150m @ 1.31% CuEq (refer ASX announcement 7 August 2023). Figure 8: Vaca Muerta Prospect long section looking east, showing drill ready targets (ASX Announcement 7 August 2023). 12 | P a g e Culpeo Minerals Limited Directors’ Report La Florida Prospect La Florida contains a large outcropping mineralised zone that forms a north-south trending belt approximately 1,300m long and 400m wide. Host rocks consist of andesitic volcanic rocks and intrusive rocks, mostly consisting of quartz-feldspar porphyry. A large alteration / stockwork zone is present on the surface at La Florida (Figure 9) and covers a surface area of >300m of strike and >200m in width. Historical mapping identified hydrothermal alteration hosted within the quartz-feldspathic intrusive rocks with argilisation, silicification and sericitation recognised in the core of the system and epidote-chlorite and minor clays present in the outer halo. Limonite is associated with these alteration minerals and is interpreted to be derived mainly from pyrite hosted as disseminations and within quartz veins, within this zone the erratic presence of copper oxides is also noted. Figure 9: La Florida Prospect, plan view showing large copper bearing alteration zone outcropping at surface (ASX Announcement 7 August 2023). 13 | P a g e Culpeo Minerals Limited Directors’ Report Subsequent to the end of the period, Culpeo received results from first pass rock-chip sampling which identified a north-south trending belt of copper-gold anomalism, within the northern sector of Fortuna (refer ASX announcement 4 January 2024). The anomalous zone is approximately 1.7km long by 0.5 km wide and hosted within andesitic volcanic rocks that have been intruded by quartz-feldspar porphyry lithologies. Both the volcanics and the intrusive rocks show moderate to strong hydrothermal alteration in the form of argillic, phyllic (sericite) and strong limonitisation (interpreted to be after weathered pyrite). All 14 samples taken returned anomalous copper and gold results. The best copper result of 3.96% Cu was returned from CPO0008688, located in the northern part of the interpreted porphyry system where strong surface mineralisation was identified in the form of malachite and chrysocolla (refer to ASX Announcement dated 4 January 2024). This sample also returned a gold result of 1.17g/t Au. Of significant interest was CPO0008692, which returned high grade copper and gold at 3.18% Cu and 2.61g/t Au (refer to ASX Announcement dated 4 January 2024). The sample was taken from historical workings in fresh, unoxidised mineralisation. Numerous zones of porphyry style “D-veins” were encountered in the mapping and sampling program and were typically 1-10mm in width containing pyrite and chalcopyrite, with samples also displaying narrow alteration selvages of pale greenish sericite. The presence of these “D-veins” indicates the exposure of the upper levels of a porphyry system at La Florida. The porphyry intrusives at La Florida are also mineralised with disseminated chalcopyrite mineralisation analogous with Culpeo’s nearby Lana Corina discovery where this style of mineralisation is a major component of the overall metal endowment. Figure 10: Plan view of the La Florida prospect showing results of sampling over an area of approximately 2.0km x 0.5km (ASX Announcement 4 January 2024). 14 | P a g e Culpeo Minerals Limited Directors’ Report Lana Corina Project Lana Corina is a high-grade copper-molybdenum project, hosting multiple outcropping copper bearing breccia pipes associated with a well mineralised porphyry intrusive. Lana Corina is located 10km south of the Company’s Fortuna Project in the coastal Coquimbo region of Chile (Figure 1). The top of the Lana Corina mineralised system outcrops at surface as a series of copper bearing magmatic/hydrothermal breccias. At depth, the system transitions into a quartz-feldspar diorite which hosts consistent copper mineralisation, present mainly as chalcopyrite. Detailed core logging and associated lithological and paragenetic reviews have been undertaken to better classify the different styles of mineralisation recognised at the project. No exploration drilling activity was undertaken at Lana Corina during the period. Corporate Activities Equity Capital Raise During the period the Company announced the issue of approximately 38.25 million new fully paid ordinary shares in the Company to professional and sophisticated investors at an issue price of A$0.032 per share, to raise approximately A$1.224 million (before costs). The Placement was completed in two tranches, comprising: • Tranche 1: Approximately A$0.62 million via the issue of ~19.37 million Placement Shares within the Company’s placement capacity under ASX Listing Rule 7.1 and 7.1A; and • Tranche 2: Approximately A$0.6 million via the issue of ~18.87 million Placement Shares, which were subject to shareholder approval at a General Meeting of the Company’s shareholders. Due to additional demand, Culpeo subsequently increased Tranche 2 of the Placement by an additional 218,750 Placement Shares to 19,091,788 shares at the issue price of A$0.032. The Company obtained Shareholder approval to issue the Tranche 2 placement shares at the General Meeting held on 18 October 2023 Investors also received 1 free attaching option for every 2 Placement Shares subscribed for. The options were unquoted with an exercise price of A$0.048 and an expiry date (exercisable anytime) two years from the date of issue. In total, approximately 19.23 million free-attaching options were issued, and 2 million options were issued to the lead manager in consideration for services. Both issuances had an exercise price of $0.048 and an expiry date of 31 October 2025. Annual General Meeting The Company held its annual general meeting of shareholders on 9 November 2023, where all resolutions put to shareholders were approved. 15 | P a g e Culpeo Minerals Limited Directors’ Report Appointment of Chief Financial Officer During the period, Culpeo appointed Mr Graeme Morissey as CFO to the Company, succeeding Ms Pennee Osmond. Mr Morissey has held Director-level roles in the audit divisions of global accounting firms EY, KPMG and Grant Thornton. He has over 15 years’ direct experience in servicing clients within the mining exploration and development sector. This includes specific expertise extending across compliance with the Australian Securities Exchange (“ASX”), the Australian Accounting Standards Board, the Corporations Act 2001 (Cth) and Department of Mines regulation. Mr Morissey has also consulted directly to CFOs within the Australian mining sector, which has included services to assist management to optimise internal reporting processes, cash management and cashflow forecasting. His clients have included gold production companies Westgold and Ora Banda. Mr Morissey is a Chartered Accountant (“CA”), a Fellow of the Governance Institute of Australia (“FGIA”) and a member of the Australian Institute of Company Directors (“MAICD”). He holds a Bachelor of Commerce from McMaster University in Canada. Matters subsequent to the end of the half-year In January 2024, 16,468,750 ordinary shares were issued upon exercise of the options disclosed in the paragraph above. The Company collected $790,500. In January 2024, 2,759,615 ordinary shares were issued to a third-party consulting company in consideration for future marketing services. In February 2024, the Company completed a placement by issuing 28,498,163 ordinary shares and collecting $1,709,890 before costs. As part of the cost of the issuance, the Company issued the Lead Manager 2,000,000 options exercisable at $0.10 and expiring on 11 January 2026. In addition, a further 500,000 of the $0.048 options expiring 31 October 2025 were exercised, with the Company collecting $24,000. On 16 February 2024, the Company appointed Ms Sue Wong as Company Secretary following the resignation of Ms Sarah Wilson. On 29 February 2024, the Company confirmed high-grade surface and gold mineralisation at its El Quillay South prospect. Assays returned from rock chip samples included grades up to 1.33 % Cu and 2.40g/t Au. Other than as discussed above, no other matter or circumstance has arisen since 31 December 2023 that has significantly affected, or may significantly affect the Group's operations, the results of those operations, or the Group's state of affairs in future financial years. 16 | P a g e Culpeo Minerals Limited Directors’ Report Auditor's independence declaration A copy of the auditor's independence declaration as required under section 307C of the Corporations Act 2001 is set out immediately after this Directors' Report. Auditors RSM Australia Partners continues in office in accordance with section 307C of the Corporations Act 2001. This report is made in accordance with a resolution of Directors, pursuant to section 306(3)(a) of the Corporations Act 2001. On behalf of the Directors __________________________ Mr Geoff McNamara Non-Executive Chairman 14 March 2024 17 | P a g e Culpeo Minerals Limited Directors’ Report Competent Persons Statement The information in this report that relates to Exploration Results released to ASX subsequent to the Company’s listing on ASX is based on information compiled by Mr Maxwell Donald Tuesley, BSc (Hons) Economic Geology, MAusIMM (No 111470). Mr Tuesley is a member of the Australian Institute of Mining and Metallurgy and is a shareholder and Director of the Company. Mr Tuesley has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Tuesley consents to the inclusion in this report of the matters based on this information in the form and context in which it appears. The information in this disclosure that relates to Geophysical Results is based on information compiled by Nigel Cantwell. Mr Cantwell is a Member of the Australian Institute of Geoscientists (AIG) and the Australian Society of Exploration Geophysics (ASEG). Mr Cantwell is a consultant to Culpeo Minerals Limited. Mr Cantwell has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources & Ore Reserves. The Company confirms that it is not aware of any new information or data that materially affects the Geophysical Results and confirms that the form and context in which the applicable Competent Persons’ findings are presented have not been materially modified from the original announcement. Copper Equivalent (Cu Eq) values: Assumed commodity prices for the calculation of Copper Equivalent (Cu Eq) is Cu US$3.00/lb, Au US$1,700/oz, Mo US$14/lb and Ag US$20/oz. Recoveries are assumed from similar deposits: Cu = 85%, Au = 65%, Ag = 65%, Mo = 80%, Cu Eq (%) was calculated using the following formula: ((Cu% x Cu price 1% per tonne x Cu recovery) + (Au(g/t) x Au price per g/t x Au recovery) + (Mo ppm x Mo price per g/t x Mo recovery) + Ag ppm x Ag price per g/t x Ag recovery)) / (Cu price 1% per tonne x Cu recovery). Cu Eq (%) = Cu (%) + (0.54 x Au (g/t)) + (0.00037 x Mo (ppm)) + (0.0063 x Ag (ppm)). It is the Company’s opinion that all elements included in the metal equivalents have a reasonable potential to be recovered and sold. 18 | P a g e AUDITOR’S INDEPENDENCE DECLARATION As lead auditor for the review of the financial report of Culpeo Minerals Limited for the half-year ended 31 December 2023, I declare that, to the best of my knowledge and belief, there have been no contraventions of: (i) the auditor independence requirements of the Corporations Act 2001 in relation to the review; and (ii) any applicable code of professional conduct in relation to the review. RSM AUSTRALIA PARTNERS Perth, WA Dated: 14 March 2024 AIK KONG TING Partner Culpeo Minerals Limited Consolidated Statement of Profit or Loss and Other Comprehensive Income For the half-year ended 31 December 2023 Consolidated Half-Year Half-Year Ended Ended 31 December 31 December 2022 2023 $ $ Other income Bank interest Total other income Expenses Administration expenses Consulting expenses Corporate and compliance expenses Depreciation expense Employee related expenses Equity based expenses Equity based reversals Financial expenses Legal and professional fees Impairment of VAT Write off of exploration and evaluation assets Foreign exchange gains/(losses) Total expenses 5 5 6 Loss before income tax Income tax expense Loss after tax Other comprehensive income / (loss) Items that may be reclassified to profit or loss: Exchange differences on translation of foreign operations Other comprehensive income / (loss) for the period, net of tax Total comprehensive loss for the period Profit/(loss) attributable to: Non-controlling interests Members of the parent Total comprehensive (loss)/income attributable to: Non-controlling interests Members of the parent Basic and diluted loss per share attributable to members of the parent 9 1,408 1,408 3,276 3,276 (189,225) (248,559) (169,211) (480) (67,568) (6,150) 94,959 (15,695) (65,859) (33,713) (831,068) 83,390 (1,449,179) (226,268) (200,856) (160,884) (635) (67,993) (31,182) (1,229) (35,013) (290,112) 16,089 (998,083) (1,447,771) (994,807) - - (1,447,771) (994,807) (751,605) 556,159 (751,605) 556,159 (2,199,376) (438,648) (788) (1,446,983) (1,447,771) (728) (994,079) (994,807) (14,220) (2,185,156) (2,199,376) (728) (437,920) (438,648) (1.24) (1.64) The above consolidated statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes 20 | P a g e Culpeo Minerals Limited Consolidated Statement of Financial Position As at 31 December 2023 Consolidated As at As at 31 December 30 June 2023 2023 $ $ ASSETS CURRENT ASSETS Cash and cash equivalents Trade and other receivables 188,191 46,609 334,600 127,314 TOTAL CURRENT ASSETS 234,800 461,914 2,798 3,466,779 3,469,577 3,426 4,441,099 4,444,525 3,704,377 4,906,439 CURRENT LIABILITIES Trade and other payables TOTAL CURRENT LIABILITIES 287,530 287,530 333,437 333,437 TOTAL LIABILITIES 287,530 333,437 3,416,847 4,573,002 11,915,713 561,243 (8,652,271) 3,