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Share-Based Payments (Tables)

12 Months Ended

Jun. 30, 2024

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, 2024 A$		June 30, 2023 A$
Employee share-based payment expense		1,796,286		2,001,572

		1,796,286		2,001,572

Executive Incentive Plan [member] | Performance rights [member]

Statement [LineItems]

Summaries of Performance Rights Granted

Fiscal year ended June 30, 2024


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 1, 2021		0.550		17,699		—		(17,699	)		—		—		—
November 26, 2021		0.490		3,600,000		—		—			—		3,600,000		1,200,000
November 26, 2021		0.490		4,500,000		—		—			—		4,500,000		1,500,000
November 26, 2021		0.490		2,900,000		—		(966,667	)		—		1,933,333		—
December 16, 2022		0.330		1,112,334		—		—			—		1,112,334		556,167

January 31, 2024		0.350		—		1,343,856		—			—		1,343,856		—

January 31, 2024		0.350		—		1,381,012		—			—		1,381,012		—

Total				12,130,033		2,724,868		(984,366	)		—		13,870,535		3,256,167

Fiscal year ended June

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

Summary of STI Performance Rights Granted

The model inputs for STI performance rights granted during the fiscal year ended June 30, 2024 included:


Grant date	June 30, 2024*			January 31, 2024*
Share price at grant date	$	0.295		$	0.35
Expected price volatility of the Company’s shares		62	%		58	%
Expected dividend yield		Nil			Nil
Risk-free interest rate		4.19	%		3.68	%

3,147,952 performance rights due to vest on October 1, 2024, 3,147,952 performance rights due to vest on October 1, 2025 and 447,952 performance rights due to vest on October 1, 2026 have not met the definition of grant date under AASB 2 (IFRS 2)- Share Based payments. Accordingly, the share-based expense recognised was using an estimate of the grant date fair value at June 30, 2024. 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 2024 and no option was granted during the year ended June 30, 2024.

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	%

2,700,000 performance rights due to vest on October 1, 2024 and 2,700,000 performance rights due to vest on October 1, 2025 have not met the definition of grant date under AASB 2(IFRS2) - 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 fiscal 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.

Directors Incentive Plan [member] | Performance rights [member]

Statement [LineItems]

Summaries of Performance Rights Granted

Fiscal year ended 30 June 2024


2024 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		500,000		—		(500,000	)		—		—		—
November 23, 2022		Director rights		0.310		1,166,667		—		—			—		1,166,667		—
December 1, 2021		Director rights		0.490		226,414		—		—			—		226,414		113,207
October 24, 2023		Director rights		0.320		—		178,356		—			—		178,356		28,356
October 24, 2023		Director rights		0.320		—		589,955		—			—		589,955		89,954

Total						1,893,081		768,311		(500,000	)		—		2,161,392		231,517

*	The weighted average share price on the exercising date during the financial year 2024 is $0.285.

Fiscal year ended 30 June 2023


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		0.310		—		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.

Summary of STI Performance Rights Granted

The model inputs for STI performance rights granted during the fiscal year ended June 30, 2024 included:


Grant date	June 30, 2024*			October 24, 2023
Share price at grant date	$	0.295		$	0.32
Expected price volatility of the Company’s shares		62	%		56	%
Expected dividend yield		Nil			Nil
Risk-free interest rate		4.11	%		4.3	%

Director performance rights granted during the year ended June 30, 2024 have not met the definition of grant date under AASB 2(IFRS 2) - Share Based payments. Accordingly, the share-based expense recognized was using an estimate of the grant date fair value at June 30, 2024. The value will be

re-

assessed at the next reporting date as the grant date will be the 2024 AGM date.

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 (IFRS 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

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(IFRS 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

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:


2024 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, 2025		0.248		847,600		—		—		—		847,600		—

Total					847,600		—		—		—		847,600		—