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Share-Based Payments (Tables)
 12 Months Ended
Jun. 30, 2023
Statement [LineItems]  
Summary of Total Expenses Arising From Share-based Payment Transactions
Total expenses arising from share-based payment transactions recognized during the period as part of employee benefit expense were as follows:
 
    
Consolidated
  
    
June 30, 2023

A$
     
June 30, 2022

A$
  
Employee share-based payment expense
      2,001,572        1,486,841  
    
 
 
     
 
 
  
    
 
2,001,572
 
   
 
1,486,841
 
    
 
 
     
 
 
  
Executive Incentive Plan [member] | Performance rights [member]  
Statement [LineItems]  
Summaries of Performance Rights Granted
Fiscal year ended June 30, 2023
 
Grant date
  
Fair

value
 
  
Balance at

start of the

fiscal year

Number
 
  
Granted

during the

fiscal year

Number
 
  
Exercised

during the

fiscal year

Number
 
 
Lapsed

during the

fiscal year

Number
 
  
Balance at

end of the

fiscal year

Number
 
  
Vested and

exercisable at

end of the

fiscal year

Number
 
October 3, 2019
      0.260        1,500,000        —         (1,500,000 )      —         —         —   
November 1, 2019
      0.280        2,400,000        —         (2,400,000 )      —         —         —   
January 2, 2020
      0.260        1,400,000        —         (1,400,000 )      —         —         —   
October 2, 2020
      0.235        263,502        —         (263,502 )      —         —         —   
October 1, 2021
      0.550        206,404        —         (188,705 )      —         17,699        —   
November 26, 2021
      0.490        3,600,000        —         —        —         3,600,000        —   
November 26, 2021
      0.490        4,500,000        —         —        —         4,500,000        —   
November 26, 2021
      0.490        2,900,000        —         —        —         2,900,000        —   
December 16, 2022
      0.330        —         1,112,334        —        —         1,112,334        —   
             
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
Total
            
 
16,769,906
 
   
 
 1,112,334
 
   
 
(5,752,207
) 
  
 
— 
 
   
 
12,130,033
 
   
 
— 
 
             
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
Fiscal year ended June 30, 2022
 
Grant date
  
Fair

value
 
  
Balance at

start of the

fiscal year

Number
 
  
Granted

during the

fiscal year

Number
 
  
Exercised

during the

fiscal year

Number
 
 
Lapsed

during the

fiscal year

Number
 
  
Balance at

end of the

fiscal year

Number
 
  
Vested and

exercisable at

end of the

fiscal year

Number
 
October 3, 2019
      0.260        3,000,000        —         (1,500,000 )      —         1,500,000        —   
November 1, 2019
      0.280        2,400,000        —         —        —         2,400,000        1,200,000  
January 2, 2020
      0.260        1,900,000        —         (500,000 )      —         1,400,000        450,000  
October 2, 2020
      0.235        263,502        —         —        —         263,502        263,502  
October 1, 2021
      0.550        —         206,404        —        —         206,404        —   
November 26, 2021
      0.490        —         3,600,000        —        —         3,600,000        —   
November 26, 2021
      0.490        —         4,500,000        —        —         4,500,000        —   
November 26, 2021
      0.490        —         2,900,000        —        —         2,900,000        —   
             
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
Total
            
 
 7,563,502
 
   
 
11,206,404
 
   
 
(2,000,000
) 
  
 
— 
 
   
 
16,769,906
 
   
 
1,913,502
 
             
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
Fiscal year ended June 30, 2021
 
Grant date
  
Fair

value
 
  
Balance at

start of the

fiscal year

Number
 
  
Granted

during the

fiscal year

Number
 
  
Exercised

during the

fiscal year

Number
 
 
Lapsed

during the

fiscal year

Number
 
  
Balance at

end of the

fiscal year

Number
 
  
Vested and

exercisable at

end of the

fiscal year

Number
 
November 28, 2017
      0.230        500,000        —         (500,000 )      —         —         —   
October 2, 2018
      0.470        387,560        —         (387,560 )      —         —         —   
October 3, 2019
      0.260        4,500,000        —         (1,500,000 )      —         3,000,000        —   
November 1, 2019
      0.280        3,600,000        —         (1,200,000 )      —         2,400,000        —   
January 2, 2020
      0.260        2,850,000        —         (950,000 )      —         1,900,000        —   
October 2, 2020
      0.235        —         263,502        —        —         263,502        —   
             
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
Total
            
 
11,837,560
 
   
 
 
 
263,502
 
   
 
(4,537,560
) 
  
 
— 
 
   
 
 
7,563,502
 
   
 
— 
 
             
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
Summary of STI Performance Rights Granted
The model inputs for STI performance rights granted during the fiscal year ended June 30, 2023 included:
 
Grant date
   
June 30
2023*
  
Share price at grant date
      0.275  
Expected price volatility of the Company’s shares
      60 % 
Expected dividend yield
      Nil  
Risk-free interest rate
      3.40 % 
 
*
Tranches 2 and 3 of performance rights granted during the year ended June 30, 2023 have not met the definition of grant date under AASB 2 - Share Based payments. Accordingly, the share based expense recognised was using an estimate of the grant date fair value at June 30, 2023. The value will be
re-assessed
at each reporting date until grant date has been identified. For all tranches, the vesting conditions consist of service-based vesting conditions subject to certain defined corporate Key Performance Indicators (KPIs). The performance rights will expire, if not exercised, five years from the date of issue. There are no outstanding options under EIP at the beginning of the financial year 2023 and no option was granted during the year ended June 30, 2023
The model inputs for STI performance rights granted during the fiscal year ended June 30, 2022 included:
 
Grant date
   
June 30
2022*
    
November 26
2021*
  
Share price at grant date
    $ 0.290     $ 0.490  
Expected price volatility of the Company’s shares
      75 %      105 % 
Expected dividend yield
      Nil       Nil  
Risk-free interest rate
      3.28 %      1.39 % 
 
*
Tranches 2 and 3 of performance rights granted during the year ended June 30, 2022 have not met the definition of grant date under AASB 2 - Share Based payments. Accordingly, the share based expense recognised was using an estimate of the grant date fair value at June 30, 2022. For all tranches, the vesting conditions consist of service-based vesting conditions subject to certain defined corporate Key Performance Indicators (KPIs). The performance rights will expire, if not exercised, five years from the date of issue. There are no outstanding options under EIP at the beginning of the financial year 2022 and no option was granted during the year ended June 30, 2022.
The model inputs for STI performance rights granted during the fiscal year ended June 30, 2021 included:
 
Grant date
   
October 2,
2020
  
Share price at grant date
    $  0.235  
Expected price volatility of the Company’s shares
      88 % 
Expected dividend yield
      Nil  
Risk-free interest rate
      0.12 % 
Directors Incentive Plan [member] | Performance rights [member]  
Statement [LineItems]  
Summaries of Performance Rights Granted
2023
Grant date
   
Type of

performance

right granted
     
Fair

value
     
Balance at

start of the

fiscal year

Number
     
Granted

during the

fiscal year

Number
     
Exercised

during the

fiscal year

Number
    
Lapsed

during the

fiscal year

Number
    
Balance at

end of the

fiscal year

Number
     
Vested and

exercisable

at end of the

fiscal year

Number
  
November 1, 2019
      Director rights        0.280        1,000,000        —         (500,000 )      —        500,000        —   
November 23, 2022
      Director rights        0.31        —         1,166,667        —        —        1,166,667        —   
December 1, 2021
      Director rights        0.490        339,621        —         (113,207 )      —        226,414        —   
November 23, 2022
      Director rights        0.310        —         457,832        (92,966 )      (364,866 )*      —         —   
                      
 
 
     
 
 
     
 
 
    
 
 
    
 
 
     
 
 
  
Total
                     
 
1,339,621
 
   
 
1,624,499
 
   
 
(706,173
) 
  
 
(364,866
) 
  
 
1,893,081
 
   
 
— 
 
                      
 
 
     
 
 
     
 
 
    
 
 
    
 
 
     
 
 
  
 
*
The change during the year represents derecognition due to the cessation of the director.
The weighted average share price on the exercising date during the financial year 2023 is $0.28.
 
2022
Grant date
   
Type of

performance

right granted
   
Fair

value
     
Balance at

start of the

fiscal year

Number
     
Granted

during the

fiscal year

Number
     
Exercised

during the

fiscal year

Number
    
Lapsed

during the

fiscal year

Number
    
Balance at

end of the

fiscal year

Number
     
Vested and

exercisable

at end of the

fiscal year

Number
  
November 16, 2018
    Director rights      0.390        250,000        —         (250,000 )      —        —         —   
November 1, 2019
    Director rights      0.280        1,500,000        —         (500,000 )      —        1,000,000        —   
October 27, 2020
    Director rights      0.255        1,350,000        —         (450,000 )      (900,000 )*      —         —   
December 1, 2021
    Director rights      0.490        —         339,621        —        —        339,621        —   
                  
 
 
     
 
 
     
 
 
    
 
 
    
 
 
     
 
 
  
Total
                 
 
3,100,000
 
   
 
339,621
 
   
 
(1,200,000
 )
 
  
 
(900,000
) 
  
 
1,339,621
 
   
 
— 
 
                  
 
 
     
 
 
     
 
 
    
 
 
    
 
 
     
 
 
  
 
*
The change during the year represents derecognition due to the cessation of the director.
The weighted average share price on the exercising date during the financial year 2022 is $0.523.
 
2021
Grant date
  
Type of
performance
right granted
 
  
Fair
value
 
  
Balance at
start of the
fiscal year
Number
 
  
Granted
during the
fiscal year
Number
 
  
Exercised
during the
fiscal year
Number
 
 
Lapsed
during the
fiscal year
Number
 
  
Balance at
end of the
fiscal year
Number
 
  
Vested and
exercisable
at end of the
fiscal year
Number
 
November 25, 2016
      Director rights        0.380        273,637        —         (273,637 )      —         —         —   
November 17, 2017
      Director rights        0.210        426,654        —         (426,654 )      —         —         —   
November 16, 2018
      Director rights        0.390        500,000        —         (250,000 )      —         250,000        —   
November 1, 2019
      Director rights        0.280        1,500,000                 —        —         1,500,000        —   
October 27, 2020
      Director rights        0.255        —         1,350,000        —        —         1,350,000        —   
                      
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
Total
                     
 
2,700,291
 
   
 
1,350,000
 
   
 
(950,291
 )
 
  
 
— 
 
   
 
3,100,000
 
   
 
— 
 
                      
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
The weighted average share price on the exercising date during the fiscal year 2021 is $0.276.
Summary of STI Performance Rights Granted
The model inputs for STI performance rights granted during the fiscal year ended June 30, 2023 included:
 
Grant date
  
June 30, 2023*
 
 
November 23, 2022
 
Share price at grant date
   
$
 0.315
 
  
$
 0.310
 
Expected price volatility of the Company’s shares
   
 
 75
% 
  
 
 75
% 
Expected dividend yield
   
 
 Nil
 
  
 
 Nil
 
Risk-free interest rate
   
 
 3.94
% 
  
 
 3.40
% 
 
*
Director performance rights granted during the year ended June 30, 2023 have not met the definition of grant date under AASB 2 - Share Based payments. Accordingly, the share-based expense recognised was using an estimate of the grant date fair value at June 30, 2023. The value will be re-assessed at the next reporting date as the grant date will be the 2023 AGM date.
 
The model inputs for STI performance rights granted during the fiscal year ended June 30, 2022 included:
 
Grant date
  
June 30, 2022*
 
 
November 26, 2021*
 
Share price at grant date
   
$
 0.290
 
  
$
 0.490
 
Expected price volatility of the Company’s shares
   
 
 75
% 
  
 
 105
% 
Expected dividend yield
   
 
 Nil
 
  
 
 Nil
 
Risk-free interest rate
   
 
 3.28
% 
  
 
 1.39
% 
 
*
Tranches 2 and 3 of performance rights granted during the year ended June 30, 2022 have not met the definition of grant date under AASB 2 - Share Based payments. Accordingly, the share based expense recognised was using an estimate of the grant date fair value at June 30, 2022. The value will be re-assessed at each reporting date until grant date has been identified.
The model inputs for STI performance rights granted during the fiscal year ended June 30, 2021 included:
 
Grant date
    October 27, 2020  
Share price at grant date
      $ 0.255  
Expected price volatility of the Company’s shares
      92 % 
Expected dividend yield
      Nil  
Risk-free interest rate
      0.14 % 
Ridgeback Capital Investments and Trout Group LLC. [member] | Stock Option 1 [member]  
Statement [LineItems]  
Summaries of Options Granted
Set out below is a summary of the options granted to both parties:
 
2023
Grant date
   
Expiry date
    Exercise
price		      Balance at
start of the
fiscal year
Number		      Granted
during the
fiscal year
Number		      Exercised
during the
fiscal year
Number		      Forfeited
during the
fiscal year
Number		      Balance at
end of the
fiscal year
Number		      Vested and
exercisable
at end of the
fiscal year
Number		  
July 31, 2015
    August 5, 2020      0.235        —         —         —         —         —         —   
July 31, 2015
    August 5, 2025      0.248        847,600        —         —         —         847,600        —   
October 30, 2015
    October 30, 2020      0.568        —         —         —         —         —         —   
March 7, 2016
    March 7, 2021      0.398        —         —         —         —         —         —   
                  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
                 
 
847,600
 
   
 
— 
 
   
 
— 
 
   
 
— 
 
   
 
847,600
 
   
 
—