84 2022 ANNUAL REPORT Notes to the CONSOLIDATED FINANCIAL STATEMENTS for the year ended 30 June 2022 (cont.) 35 PARENT ENTITY DISCLOSURES PARENT ENTITY 30 June 2022 30 June 2021 $’000 $’000 (a) Finance position Assets Current assets 28,849 3,595 Non-current assets 292,988 154,964 Total assets 321,837 158,559 Liabilities Current liabilities 25,340 4,246 Non-current liabilities 153,263 3,497 Total liabilities 178,603 7,743 Equity Contributed equity 443,160 442,626 Other equity 930 930 Reserves 6,485 4,587 Accumulated losses (307,341) (297,327) Total equity 143,234 150,816 (b) Finance performance Profit/(loss) for the year (172,413) (64,678) Other comprehensive income (1,444) 20,039 Total comprehensive profit/(loss) for the year (173,857) (44,639) (c) Financial commitments Low value and short term leases: - Not later than one year - - Total financial commitments - - (d) Contingent liabilities The parent entity did not have any contingent liabilities at 30 June 2022 (2021: $nil). The parent entity has entered into a Deed of Cross Guarantee with the effect that the Company guarantees debts in respect of certain subsidiaries. Further details of the Deed of Cross Guarantee and the subsidiaries subject to the deed are disclosed in Note 34. 36 SUBSEQUENT EVENTS During the first quarter of FY23, the Darlot Gold Mine’s processing plant was wound down and the Darlot operation has been transitioned to a satellite underground mine to provide ore to King of the Hills, with the majority of surface employees at Darlot transitioning or having already transitioned to King of the Hills. As a result, the Darlot process plant was placed into care and maintenance in July 2022. Other than the matters discussed above, there has not arisen in the interval between the end of the financial year and the date of this report any item, transaction or event of a material and unusual nature likely, in the opinion of the directors of the Company, to significantly affect the operations of the Group, the results of those operations, or the state of affairs of the Group, in future financial years.
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