Announcement PDF ABN 13 637 559 847 Chariot Corporation Limited Interim Financial Report For the Half-Year Ended 30 June 2024 Contents Corporate Directory ................................................................................................................................ 3 Directors’ Report..................................................................................................................................... 4 Auditor’s Independence Declaration .................................................................................................... 11 Consolidated Statement of Profit or Loss and Other Comprehensive Income .................................... 12 Consolidated Statement of Financial Position ...................................................................................... 13 Consolidated Statement of Changes in Equity...................................................................................... 14 Consolidated Statement of Cash Flows ................................................................................................ 16 Notes to the Consolidated Financial Statements ................................................................................. 17 Directors’ Declaration ........................................................................................................................... 29 Independent Auditor’s Report .............................................................................................................. 30 Chariot Corporation | Interim Financial Report 2024 2|Page Corporate Directory Directors Shanthar Pathmanathan | Managing Director & CEO Frederick Forni | Executive Director Neil Stuart | Non-Executive Director Joint Company Secretaries Aaron Gates and Steven Wood Registered Office Level 5, 191 St Georges Terrace Perth WA 6000 Principal Place of Business Unit 30, 118 Royal Street East Perth Western Australia 6004 Auditors Moore Australia Audit (WA) Level 15, Exchange Tower 2 The Esplanade Perth Western Australia 6000 Bankers National Australia Bank Limited Gateway Building Cnr Marmion and Davy Streets Booragoon Western Australia 6154 Share Registry Automic Pty Ltd Level 5, 191 St Georges Terrace Perth Western Australia 6000 Website www.chariotcorporation.com ABN 13 637 559 847 Securities Exchange Listing ASX Code: CC9 Chariot Corporation | Interim Financial Report 2024 3|Page Directors’ Report The Directors of Chariot Corporation Limited and its controlled entities (‘the Company’, ‘Chariot’ or ‘Consolidated Group’) present their Interim Financial Report for the half-year ended 30 June 2024. Directors The Directors of the Company in office at any time during or since the end of the period are: • Shanthar Pathmanathan | Managing Director and Chief Executive Officer • Frederick Peter Forni | Executive Director • Neil Francis Stuart | Non-Executive Director • Murray Bleach | Non-Executive Chairman (resigned on 21 May 2024) Directors have been in office since the start of the period to the date of this report unless otherwise stated. Principal Activities The Company is a mineral exploration company focused on discovering and developing high grade and near surface lithium opportunities predominately in the USA. The Company’s strategic objectives are to: • acquire, explore for and develop a portfolio of mineral properties located in mining-friendly jurisdictions which the Company considers prospective for lithium mineralisation (with an initial focus on properties that exhibit evidence of lithium mineralisation near or at-surface); • retain a dual-focus on hard rock lithium and claystone-hosted lithium assets; • seek to delineate one or more JORC 2012 Mineral Resource Estimates (Resources or MRE) at the core projects and potentially identify new opportunities within the exploration pipeline projects; • produce significant lithium product from U.S. deposits and become a supplier of battery-grade lithium products to the United States’ market; • enhance shareholder value through sound management of its project portfolio and identification of opportunistic transactions; and • make a meaningful contribution to the global transition to renewable energy. Review of Operations The Directors’ present their review of operations for the half-year ended 30 June 2024 in the following segments: • Lithium Portfolio Review • Corporate Review Lithium Portfolio Review Chariot Corporation Limited (“Chariot” or the “Company”) is an exploration company focused on discovering and developing high-grade and near surface lithium opportunities in the USA. The Company’s core assets are the Black Mountain Project (hard rock lithium), located in Central Wyoming, and the Resurgent Project (claystone lithium), located in the McDermitt Caldera (NV, OR). Both projects have assay results from initial exploration indicating high-grade lithium mineralisation at surface. At Black Mountain, diamond drill holes intersected near surface, high-grade spodumene mineralisation confirming the potential for LCT pegmatite swarms with drill hole one (1) intersecting 15.48m at 1.12% Li2O. Chariot Corporation | Interim Financial Report 2024 4|Page The Company also holds an interest in six exploration pipeline projects located in the United States including (i) the Copper Mountain Project which comprises 83 unpatented lode mining claims (“Claims”) located in Wyoming, USA; (ii) the South Pass Project which comprises 214 Claims located in Wyoming, USA; and (iii) four other hard rock lithium projects comprising 146 Claims located in Wyoming, USA (collectively, the “Exploration Pipeline Projects”). Chariot also holds an interest in the Nyamukono Project (hard rock lithium) located in northeast Zimbabwe. The Company is exploring divestment opportunities for this lithium project. United States On 9 January 2024, Chariot increased its ownership of Wyoming Lithium Pty Ltd (“WLPL”) from 91.9% to 93.9% via a share subscription to reimburse Chariot for exploration expenses incurred at the Wyoming lithium projects. WLPL owns 100% of Panther Lithium Corporation (“Panther”) a Delaware registered company. Panther owns the Black Mountain Project and the Exploration Pipeline Projects in Wyoming, USA. On 2 February 2024, the Company announced the initial assay results for the first three (3) drill holes of the phase 1 drilling program. The first three (3) holes all intersected high-grade spodumene mineralisation confirming the potential of the Black Mountain LCT pegmatite swarms. Notable results from the first three (3) holes include: • • • BMDDH23_01 15.48m @ 1.12% Li2O and 79ppm Ta2O5 from 2.74m, including 4.27m @ 2.46% Li2O and 128 ppm Ta2O5 from 9.94m BMDDH23_02 14.33m @ 0.84% Li2O and 61ppm Ta2O5 from 1.83m, including 2.29m @ 3.09% Li2O and 138ppm Ta2O5 from 10.67m BMDDH23_03 18.81m @ 0.85% Li2O and 98ppm Ta2O5 from 45.26m, including 5.79m @ 1.08% Li2O and 105ppm Ta2O5 from 47.55m On 22 February 2024, the phase 1 drilling program was completed for a total of 1,132m over nine (9) drill holes. During the first quarter of 2024 the Company significantly expanded the footprint of the Black Mountain project by staking and filing with the Bureau of Land Management, 218 Claims totalling 1,807 ha of tenure (“BMX Claims”). The Black Mountain project now comprises 352 Claims covering 2,686 ha of tenure. The BMX Claims are contiguous to the Company’s existing Black Mountain Claims and represent a 206% increase in the footprint of Black Mountain. The BMX Claims were staked as a buffer and to cover possible extensions to the pegmatite dike swarms under shallow cover at Black Mountain. In April 2024 and upon completion of the maiden drilling program, the Black Mountain surface mapping and ground magnetics data was reprocessed, with the reprocessed geophysics model indicating two (2) large magnetic lows, firstly to the north and secondly, to the south-east of the Phase 1 Drilling Program area. These magnetic lows are interpreted to be pegmatite stocks and the source of the folded pegmatite dike swarm. Chariot Corporation | Interim Financial Report 2024 5|Page On 3 May 2024, the Company announced the full set of assay results from the phase 1 drilling program at Black Mountain. The last six (6) holes yielded lower lithium grades, these holes were nevertheless encouraging in terms of the anomalous lithium values and, more particularly, the level of fractionation as identified through the geochemistry. The high-Li pegmatites and, more significantly, the low-Li pegmatites were highly fractionated indicating a potential for the low-Li pegmatites to be petrogenetically linked to the spodumene pegmatites as the low-Li edges of a larger Li-rich pegmatite. During the second quarter Chariot recommenced exploration at the Black Mountain project. The Company initiated extensive K Feldspar testing and further rock-chip and soil sampling at Black Mountain as a means of further refining the proposed 2024 drilling targets. The Company also initiated K Feldspar testing and surface sampling exploration at the Exploration Pipeline Projects in Wyoming, USA. On 24 May 2024, FMS Lithium Corporation (“FMSL”) distributed all of the membership interests in Mustang Lithium LLC (“Mustang”) to certain former shareholders of FMSL including Chariot. Chariot received 24.8243 units in Mustang and after the issuance of units to consultants, retains units representing a 24.08% membership interest in Mustang. Mustang holds one hundred percent of the membership interests of Horizon Lithium LLC, Halo Lithium LLC and Lithic Lithium LLC which were formerly subsidiaries of FMSL. These entities hold or held certain claystone hosted lithium projects in Nevada, USA described in previous announcements made by the Company. FMSL’s distribution divested FMSL of its interest in the projects, but Chariot retains an interest through the units it received from FMSL in the distribution. The Company currently is not engaged in activities at its Resurgent Project in the McDermitt Caldera, but the Company continues to monitor developments at neighbouring projects in the Caldera; specifically, the Thacker Pass Project owned and operated by Lithium Americas Corporation and the McDermitt Project owned and operated by Jindalee Resources Ltd. The Resurgent Project is the second largest land position in the McDermitt Caldera. Australia On 28 June 2024, the Company surrendered exploration licenses E69/3771 and E69/3773. These two (2) tenements made up the Mardabilla project in Western Australia. Zimbabwe Chariot own 95% of Chariot Metals Zimbabwe (Private) Limited, a Zimbabwe incorporated company which owns 100% of the Nyamukono Project. There was no change to Nyamukono Project over the reporting period. Corporate Review In this corporate and financial operations review, the Directors describe equity transactions completed during the half-year, financial results and other corporate matters that arose or occurred during the half-year. Board Changes On 21 May 2024, Mr Murray Bleach resigned as Non-Executive Chairman of the Board. Chariot Corporation | Interim Financial Report 2024 6|Page Financial Results The Company incurred a loss for the half-year of $2,730,842 (30 June 2023: $2,496,011) and had net assets of $31,343,309 as at 30 June 2024 (31 December 2023: $32,833,436). Significant expenditure items during the financial period include: • • • • Exploration expenditure of $1,819,023 (30 June 2023: $785,099); Directors’ fees of $309,287 (30 June 2023: $286,688); Share-based payments expense of $364,252 (30 June 2023: $37,267); and Corporate and administrative expenses of $1,054,672 (30 June 2023: $633,692). As of 30 June 2024, the Company had a cash and cash equivalents balance of $3,034,609 (31 December 2023: $7,624,100) and the Company had a negative working capital of $298,569 (31 December 2023: net working capital of $5,304,298). Dividends Paid or Recommended There were no dividends paid or declared during the current or previous financial period. Significant Changes in the State of Affairs There were no significant changes in the state of affairs of the Company during the financial period, other than the changes noted and described above in this Directors’ report. Future Developments, Prospects and Business Strategies Other than referred to in this report, further information on other likely developments in the operations of the Company and the expected results of operations have not been included in this report because the Directors believe the provision of such information would be likely to result in unreasonable prejudice to the Company. Events After Reporting Date On 12 August 2024 Mustang offered unitholders an opportunity to invest in a principal amount of the convertible notes equal to their pro rata share of the total principal amount of the convertible notes of US$250,000 to primarily pay annual fees to the United States Bureau of Land Management for the purpose of maintaining the mineral claims of two (2) of its subsidiaries, Horizon and Halo. On 19 August Chariot participated in the Mustang convertible note offering by taking up its full entitlement of US$60,199 to maintain its ownership interest in Mustang at 24.1%. On 30 August 2024, the Company announced Mustang, through two wholly owned subsidiaries, is in the process of repossessing full, unencumbered ownership of the Horizon and Halo lithium projects located in the Big Smoky Valley claystone-hosted lithium play near Tonopah, Nevada, USA. The two wholly owned Mustang subsidiaries are party to property option agreements: 1. Horizon Lithium LLC (100% owned by Mustang) entered into a property option agreement with Pan American Energy Corp. (CSE: PNRG) (“Pan American”) on 27 September 2022 in respect of the Horizon lithium project; and 2. Halo Lithium LLC (100% owned by Mustang) entered into a property option agreement with POWR Lithium Corp. (CSE: POWR) (“POWR”) on 4 August 2022 in respect of the Halo lithium project. Each of Pan American Energy and POWR determined not to pay the fees required to retain the mineral claims constituting their respective projects and each has communicated its decision to terminate its Chariot Corporation | Interim Financial Report 2024 7|Page property option agreement and surrender its interest in the mineral claims to Horizon Lithium LLC and Halo Lithium LLC, respectively. On 30 August 2024, Mr Aaron Gates and Mr Steven Wood were appointed as Joint Company Secretaries upon the resignation of Mr Craig McNab. Upon the resignation of Mr McNab, 400,000 Class F Performance Rights lapsed. On 4 September 2024, FMSL surrendered 300 Claims at the Resurgent project, bringing the project total to 1,150 Claims from 1,450 Claims. On 4 September 2024, Marvel Lithium LLC surrendered the Claims composing of the Lida and Amargosa lithium projects in Nevada, USA. No other matters or circumstances have arisen since the end of the reporting period which significantly affected or may significantly affect the operation of the Company, the result of those operations, or the state of affairs of the Company in future financial periods. Options and Performance Rights Options At the date of this report, Chariot had the following shares under option on issue: Number of Options Exercise Price Expiry Date 4,890,667 771,000 1,000,000 62,500 62,500 100,000 150,000 375,000 $0.25 $0.52 $0.585 $0.30 $0.60 $0.90 $1.20 $1.50 31 December 2024 23 December 2024 27 October 2026 7 June 2026 7 June 2026 7 June 2027 7 June 2027 7 June 2027 On 2 February 2024, the Company issued 400,000 fully paid ordinary shares from the exercise of 400,000 options at $0.25, receiving a total of $100,000 in cash. On 31 March 2024, 250,000 options with an exercise price of $0.50 expired unexercised. On 30 June 2024, 920,222 options with an exercise price of $0.45 expired unexercised. On 18 June 2024, 750,000 options with various exercise prices ($0.30 - $1.50) and expiry dates (7 June 2026 and 7 June 2027) were issued to marketing consultant Euroswiss Capital Partners Inc. No person entitled to exercise the options had or has any right by virtue of the option to participate in any share issue of the Company or of any other body corporate. Refer to Note 5 Issued Capital for further information. Chariot Corporation | Interim Financial Report 2024 8|Page Performance Rights At the date of this report, Chariot had the following performance rights on issue: Class of Rights Class B Class C Class D Class E Milestone conditions The Company’s 20-day VWAP reaching 200% higher than the Company’s IPO price. The Company’s 20-day VWAP reaching 500% higher than the Company’s IPO price. Either (1) when drilling on a project prospective for claystone-type mineralised systems, the completion of 10 drill holes (within an 8km² area) which drill holes are comprised of at least 450 metres of cumulative intersections with an average grade of 750 ppm lithium (as verified by a Competent Person); or (2) when drilling on a project prospective for pegmatite-type (‘hard-rock’) mineralized systems, the completion of 10 drill holes (within a 3km² area) which drill holes comprise at least 300 metres of cumulative intersections with an average grade of 1.00% lithium oxide (Li2O) (as verified by a Competent Person). The Company announcing to ASX either (1) a 20Mt indicated and/or measured mineral resource at a minimum grade of 1.0% Li2O for a hard-rock project (as verified by a “competent person”), or (2) a 400Mt indicated and/or measured mineral resource at a minimum grade of 1,000 ppm lithium for a claystone project (as verified by a “competent person”). Number of Rights 1,300,000 Expiry Date 12 October 2026 1,500,000 12 October 2026 2,000,000 12 October 2026 750,000 12 October 2027 3,500,000 Performance Rights held by former Non-Executive Chairman, Murray Bleach, that had not yet vested, lapsed upon his resignation on 21 May 2024. Subsequent to year end, 400,000 Class F Performance Rights, that had not yet vested, expired upon the resignation of former Company Secretary, Craig McNab, on 30 August 2024. On vesting of the service and milestone conditions, each performance right subject to being exercised by the holder, converts on a one-for-one basis into a fully paid ordinary share. Refer to Note 2 Share-Based Payments Expense for further information. Indemnification and Insurance of Directors, Officers and Auditor The Company indemnifies each of its Directors, Officers and Company Secretary. The Company indemnifies each Director and Officer to the maximum extent permitted by the Corporations Act 2001 from liability to third parties, except where the liability arises out of conduct involving lack of good faith, and cost in defending legal and administrative proceedings and applications for such proceedings. Chariot Corporation | Interim Financial Report 2024 9|Page The Company must use its best endeavours to insure a Director or Officer against any liability, which does not arise out of conduct constituting a wilful breach of duty or a contravention of the Corporations Act 2001. The Company must also use its best endeavours to insure a Director or Officer against liability for costs and expenses incurred in defending proceedings whether civil or criminal. The Company has not otherwise, during or since the end of the financial period, except to the extent permitted by law, indemnified or agreed to indemnify an Officer or Auditor of the Company or of any related body corporate against a liability incurred as such an Officer or Auditor. During the financial period the Company paid insurance premiums to insure Directors and Officers against certain liabilities arising out of their conduct while acting as a director or officer of the Company. Under the terms and conditions of the insurance contract, the nature of the liabilities insured against, and the premium paid, cannot be disclosed. Environmental Regulations The Company endeavours to comply with all regulatory requirements pertaining to the environment in each jurisdiction in which it operates. The directors are not aware of any material breaches by the Company of any of these environmental regulations during the period beginning with the commencement of the financial period and ending on the date of this Directors’ report. Proceedings on Behalf of the Company No person has applied for leave of Court to bring proceedings on behalf of the Company or intervene in any proceedings to which the Company is a party for the purpose of taking responsibility on behalf of the Company for all or any part of those proceedings. The Company was not a party to any such proceedings during the financial period. Corporate Governance Statement The Company has disclosed its corporate governance statement on the Company website at: www.chariotcorporation.com/site/about-us/corporate-governance Auditor’s Independence Declaration The auditor’s independence declaration under section 307C of the Corporations Act 2001 (Cth) for the half-year ended 30 June 2024 has been received and directly follows the Directors’ Report. ASIC Legislative Instrument 2016/191: Rounding of Amounts The Company has applied the relief available to it in ASIC Legislative Instrument 2016/191 and accordingly amounts included in this report and in the financial report have been rounded off to the nearest dollar (where rounding is applicable). 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, Shanthar Pathmanathan Managing Director 12 September 2024 Chariot Corporation | Interim Financial Report 2024 10 | P a g e Moore Australia Audit (WA) Level 15, Exchange Tower, 2 The Esplanade, Perth, WA 6000 PO Box 5785, St Georges Terrace, WA 6831 T +61 8 9225 5355 F +61 8 9225 6181 www.moore-australia.com.au AUDITOR’S INDEPENDENCE DECLARATION UNDER SECTION 307C OF THE CORPORATIONS ACT 2001 TO THE DIRECTORS OF CHARIOT CORPORATION LIMITED As auditor for the review of Chariot Corporation Limited and its subsidiaries for the half-year ended 30 June 2024, I declare that, to the best of my knowledge and belief, there have been: a) no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the review, and b) no contraventions of any applicable code of professional conduct in relation to the review. NEIL PACE PARTNER MOORE AUSTRALIA AUDIT (WA) CHARTERED ACCOUNTANTS Signed at Perth on the 12th day of September 2024. 11 | Page Moore Australia Audit (WA) – ABN 16 874 357 907. An independent member of Moore Global Network Limited - members in principal cities throughout the world. Liability limited by a scheme approved under Professional Standards Legislation. Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income For the Half-Year Ended 30 June 2024 30 June 2024 $ 27,313 30 June 2023 $ 2,683 (1,054,672) (94,969) (117,358) (1,819,023) (13,485) (309,287) (364,252) (27,189) (3,772,922) (3,772,922) (279,577) (4,052,499) 5,123,639 (3,801,982) (2,730,842) (633,692) (166,619) (512,755) (785,099) (11,340) (286,688) (37,267) (64,974) (2,495,751) (260) (2,496,011) (2,496,011) (2,496,011) Other comprehensive income: Items that will not be reclassified to profit or loss in subsequent periods Fair value movement of financial assets at fair value through OCI Translation of foreign operations Total comprehensive loss for the period (32,292) (2,763,134) (931,896) (3,427,907) Loss for the period attributable to: Equity holders of the Parent Non-controlling interests Loss for the period (1,803,581) (927,261) (2,730,842) (2,345,548) (150,463) (2,496,011) Total comprehensive loss for the period attributable to: Equity holders of the Parent Non-controlling interests Total comprehensive loss for the period (1,835,873) (927,261) (2,763,134) (3,277,444) (150,463) (3,427,907) Loss per share attributable to the members of Chariot Corporation Limited: Basic and diluted (cents per share) (1.20) (3.42) Loss per share – continuing operations: Basic and diluted (cents per share) (2.70) - Notes Other income Corporate and administrative expenses Audit and tax expenses Legal and consulting fees Exploration expenses Depreciation and amortisation expense Directors' fees Share-based payments expense Other expenses Loss for the period before interest and tax Finance costs Loss for the period before income tax Income tax expense Loss for the period from continuing operations Gain on deconsolidation of Mustang Lithium LLC Loss for the period from discontinued operations Loss for the period 6 2 4 4 The accompanying notes form part of these financial statements. Chariot Corporation | Interim Financial Report 2024 12 | P a g e Condensed Consolidated Statement of Financial Position As at 30 June 2024 30 June 2024 $ 31 Dec 2023 $ 3,034,609 256,336 74,740 3,365,685 7,624,100 361,251 471,101 9,137,708 17,594,160 30,829,872 148,174 159,983 540,000 31,678,029 27,247,835 183,257 127,447 27,558,539 35,043,714 45,152,699 3,664,254 - 1,482,817 1,488,269 3,664,254 9,318,777 12,289,863 36,151 36,151 29,400 29,400 Total Liabilities 3,700,405 12,319,262 Net Assets 31,343,309 32,833,436 Notes Current Assets Cash and cash equivalents Trade and other receivables Other assets Assets classified as held for distribution Total current assets Non-Current Assets Capitalised exploration expenditure Financial assets Plant and equipment Investment in associate Total non-current assets 3 Total Assets Current Liabilities Trade and other payables Provisions Liabilities directly associated with assets classified as held for distribution Total current liabilities Non-Current Liabilities Provisions Total non-current liabilities Equity Issued capital Reserves Accumulated Losses Equity attributable to equity holders of the Parent Non-controlling interests Total Equity The accompanying notes form part of these financial statements. Chariot Corporation | Interim Financial Report 2024 5 39,178,456 39,093,887 2,847,548 2,708,054 (15,699,757) (14,088,642) 26,326,247 27,713,299 5,017,062 5,120,137 31,343,309 32,833,436 13 | P a g e Condensed Consolidated Statement of Changes in Equity For the Half-Year Ended 30 June 2024 Issued Capital Balance at 1 January 2024 Loss for the period Other comprehensive income Total comprehensive loss Transactions with owners, recognised directly in equity Exercise of options Expiry/lapse of rights and options Share-based payments expense Capital raising costs Total transactions with owners Adjustments arising on consolidation/deconsolidation of subsidiaries Adjust NCI for deconsolidation of Mustang Lithium Adjust NCI for 2% acquisition of WLPL Total adjustments Balance at 30 June 2024 $ ShareBased Foreign Payments Translation Reserve Reserve $ $ Fair Accumulated Value Losses Reserve NonControlling Interests Total $ $ $ $ 39,093,887 1,579,764 91,506 1,036,784 (14,088,642) 5,120,137 32,833,436 - - (32,292) (32,292) - (1,803,581) (1,803,581) (927,261) (927,261) (2,730,842) (32,292) (2,763,134) 100,000 - - - - - 100,000 - (192,466) - - 192,466 - - - 364,252 - - - - 364,252 (15,431) 84,569 171,786 - - 192,466 - (15,431) 448,821 - - - - - 691,024 691,024 - - - - - 133,162 133,162 - - - - - 824,186 824,186 39,178,456 1,751,550 59,214 1,036,784 (15,699,757) 5,017,062 31,343,309 The accompanying notes form part of these financial statements. Chariot Corporation | Interim Financial Report 2024 14 | P a g e Condensed Consolidated Statement of Changes in Equity For the Half-Year Ended 30 June 2023 Balance at 1 January 2023 Loss for the period Other comprehensive income Total comprehensive income Issued Capital $ 8,205,497 - ShareBased Payments Reserve $ 1,635,050 - 5,445,257 (3,693) 42,737 7,878 - NonControlling Interests $ (283,354) (150,463) (150,463) Total $ 6,698,097 (2,496,011) (931,896) (3,427,907) - - 5,445,257 (3,693) 50,615 Fair Value Accumulated Reserve Losses $ $ 1,968,682 (4,827,778) - (2,345,548) (931,896) (931,896) (2,345,548) Transactions with owners, recognised directly in equity Issue of ordinary shares Capital raising costs Share-based payment expense Conversion of performance rights Total transactions with owners 118,750 (118,750) - - - - 5,603,051 (110,872) - - - 5,492,179 Balance at 30 June 2023 13,808,548 1,524,178 1,036,786 (7,173,326) (433,817) 8,762,369 The accompanying notes form part of these financial statements. Chariot Corporation | Interim Financial Report 2024 15 | P a g e Condensed Consolidated Statement of Cash Flows For the Half-Year Ended 30 June 2024 30 June 2024 $ 30 June 2023 $ (1,623,349) (2,091,331) 27,313 (220,182) (3,907,549) (1,420,706) (785,099) 2,683 (2,203,122) Cash Flows from Investing Activities Purchase of plant and equipment Payments for investment in FMSL Expenditure on acquisition of mining tenements Related party loans Net cash flows from investing activities (45,734) (749,738) (795,472) (120,668) (321,368) (752,887) (185) (1,195,108) Cash Flows from Financing Activities Proceeds from issue of shares Proceeds from exercise of options Share issue costs Repayment of lease liabilities Net cash flows from financing activities 100,000 100,000 5,445,257 9,655 (15,687) 5,439,225 (4,603,021) 7,624,100 13,530 3,034,609 2,040,995 2,290,658 4,331,653 Notes Cash Flows from Operating Activities Payments to suppliers and employees Payments for exploration expenses Interest received Income taxes paid Net cash flows from operating activities Net change in cash and cash equivalents Cash and cash equivalents at the beginning of the period Effect of movement in exchange rates Cash and cash equivalents at the end of the half-year The accompanying notes form part of the