Announcement PDF ABN 24 610 035 535 Financial Report For the half year ended 31 December 2023 Half year Financial Report - 31 December 2023 Corporate Directory Directors Evan Cranston - Non-executive Chairperson Peter Allen - Managing Director Ashley Pattison - Non-executive Director Wei Li - Finance Director Brett Grosvenor - Non-executive Director Company secretary Mr Alex Neuling Registered office Unit 38, 460 Stirling Highway Peppermint Grove WA 6011 Share registry Automic Registry Pty Ltd Level 5, 191 St Georges Terrace Perth WA 6000 Auditor Grant Thornton Audit Pty Ltd Level 43, 152-158 St Georges Terrace Perth WA 6000 Solicitors Steinepreis Paganin Lawyers & Consultants Level 4, The Read Building 16 Milligan Street Perth WA 6000 Bankers National Australia Bank Level 4 (UB4440), 800 Bourke Street Docklands VIC 3008 Australia Stock exchange listing Firebird Metals Limited securities are listed on the Australian Securities Exchange (ASX code: FRB) Corporate Governance Statement is available on the Company's website at www.firebirdmetals.com.au/corporate -governance/ Website www.firebirdmetals.com.au 2 Half year Financial Report - 31 December 2023 Table of Contents Directors' report Auditor's independence declaration Condensed consolidated statement of profit or loss and other comprehensive income Condensed consolidated statement of financial position Condensed consolidated statement of changes in equity Condensed consolidated statement of cash flows Notes to the condensed consolidated financial statements Directors' declaration Independent auditor's review report to the members of Firebird Metals Limited 3 4 6 7 8 9 10 11 18 19 Half year Financial Report - 31 December 2023 Director’s report The Directors present their report, together with the interim financial statements, on the consolidated entity (referred to hereafter as the “consolidated entity”) consisting of Firebird Metals Limited (referred to hereafter as the “Company” or “parent entity”) and the subsidiary it controlled in China for the half year ended 31 December 2023. Directors The following persons were directors of Firebird Metals Limited throughout the half year and up to the date of this report: Evan Cranston - Non-executive Chairperson Peter Allen - Managing Director Ashley Pattison - Non-executive Director Wei Li - Finance Director Brett Grosvenor - Non-executive Director Company Secretary Alexander Neuling Principal activities During the half year the principal activities of the consolidated entity consisted of: • Exploration and development of Oakover Manganese Project; and • Exploration of other manganese projects in the East Pilbara Manganese Province. • Development of High Purity Manganese Sulphate (MnSO4) project in Hunan China. Dividends There were no dividends paid or declared during the current financial year. Significant changes in the state of Affairs A fully owned Chinese subsidiary “Hunan Firebird Battery Technology Co., Ltd” (HFRB) was established on 1 November 2023. Since HFRB’s incorporation, the Company signed agreement with Jinshi Government laying out requirements to establish 50,000 t/a High Purity Manganese Sulphate (MnSO4) & 10,000 t/a Battery Grade Manganese Tetroxide (Mn3O4) Project (Equivalent of 72,500 t/a MnSO4). The agreement also includes land & tax incentives for HFRB. HFRB acquired a patented technology on crystallisation reactor design & process which will enable HFRB’s processing cost to be in the lowest quartile in the industry. In addition to the patent, HFRB also engaged industry leading expert Mr Zhou Qiyun and his team to be technical executives. HFRB engaged Hunan Chemical Engineering Design Institute (HCEDI) to prepare Feasibility Report (Chinese) & all required engineering design & most permitting reports to ensure the project is designed to the highest standards. Soon after establishment of HFRB, a R&D Centre was established in record time. Testing of various input material to feed into plant design and testing new & improved processing techniques are also part of the R&D Centre uses. HFRB also signed Strategic Cooperation Agreement with China Chemical to develop our Manganese Sulphate Plant. The Strategic Cooperation Agreement states the parties will use their respective strengths to collaborate on the project; covering investment, financing, engineering construction, operational management, industrial research and development, and the production of battery-grade manganese sulphate and tetroxide. There have been no other changes in the state of affairs of the consolidated entity other than those outlined in the Review of Operations Operating results The loss after income tax incurred by the consolidated entity for the six months ended 31 December 2023 was $3,336,097 (31 December 2022: $661,829). Cash and cash equivalent at 31 December 2023 totaled $7,361,436 (30 June 2023: $1,303,165). 4 Half year Financial Report - 31 December 2023 Director’s report Significant events after the balance date No matter or circumstance has arisen since 31 December 2023 that has significantly affected, or may significantly affect the consolidated entity's operations, the results of those operations, or the consolidated entity's state of affairs in future financial years. Review of operations • The company set up a fully owned subsidiary ‘Hunan Firebird Battery Technology Co., Ltd’ (HFRB) on 1 November 2023. • The company has set strategic objectives on developing Oakover Project & Chinese LMFP Strategy & selected Jinshi as its preferred site for a 72,500 t/a MnSO4 equivalent project. • Advanced and commercialised crystallisation technology secured, providing a key operation and cost advantage for Firebird. • R&D centre in Jinshi is in operation in record time and under budget. The R&D centre will be a base to produce samples for potential customers, showcase technology of the Company to various stakeholders. 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. This report is signed in accordance with a resolution of the Board of Directors. On behalf of the directors ___________________________ Peter Allen Managing Director 14 March 2024 5 Grant Thornton Audit Pty Ltd Level 43 Central Park 152-158 St Georges Terrace Perth WA 6000 PO Box 7757 Cloisters Square Perth WA 6850 T +61 8 9480 2000 Auditor’s Independence Declaration To the Directors of Firebird Metals Limited In accordance with the requirements of section 307C of the Corporations Act 2001, as lead auditor for the review of Firebird Metals Limited for the half-year ended 31 December 2023. I declare that, to the best of my knowledge and belief, there have been: a no contraventions of the auditor independence requirements of 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. GRANT THORNTON AUDIT PTY LTD Chartered Accountants L A Stella Partner – Audit & Assurance Perth, 14 March 2024 www.grantthornton.com.au ACN-130 913 594 Grant Thornton Audit Pty Ltd ACN 130 913 594 a subsidiary or related entity of Grant Thornton Australia Limited ABN 41 127 556 389 ACN 127 556 389. ‘Grant Thornton’ refers to the brand under which the Grant Thornton member firms provide assurance, tax and advisory services to their clients and/or refers to one or more member firms, as the context requires. Grant Thornton Australia Limited is a member firm of Grant Thornton International Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. GTIL and each member firm is a separate legal entity. Services are delivered by the member firms. GTIL does not provide services to clients. GTIL and its member firms are not agents of, and do not obligate one another and are not liable for one another’s acts or omissions. In the Australian context only, the use of the term ‘Grant Thornton’ may refer to Grant Thornton Australia Limited ABN 41 127 556 389 ACN 127 556 389 and its Australian subsidiaries and related entities. Liability limited by a scheme approved under Professional Standards Legislation. 6 w Half year Financial Report - 31 December 2023 Condensed consolidated statement of profit or loss and other comprehensive income For the half year ended 31 December 2023 Notes Other revenue Exploration expenditure Administration costs Depreciation and amortisation expenses Director's fees Share based payments Investment Loss Operating Loss Interest expense Loss before income tax Income tax expense Loss after income tax for the period 9 Other comprehensive loss Exchange differences on translation of foreign operations Total other comprehensive loss for the period Basic loss per share (cents) Diluted loss per share (cents) 10 10 31 December 2023 $ 31 December 2022 $ 406,816 (110,038) (480,760) (2,162) (423,086) (2,623,360) (80,347) (3,312,937) (3,312,937) (3,312,937) 43,002 (88,023) (334,644) (31,649) (248,760) (660,074) (1,755) (661,829) (661,829) (23,160) (3,336,097) (661,829) (3.8) (3.8) (1.0) (1.0) The above statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes 7 Half year Financial Report - 31 December 2023 Condensed consolidated statement of financial position As at 31 December 2023 Notes 31 December 2023 $ 30 June 2023 $ Current assets Cash and cash equivalents Trade and other receivables Financial assets Total current assets 7,361,436 284,980 29,653 7,676,069 1,303,165 123,941 1,427,106 Non-current assets Plant and equipment Exploration and evaluation assets Financial assets Total non-current assets Total assets 18,285 5,687,243 1,062,465 6,767,993 14,444,062 10,238 5,285,546 5,295,784 6,722,890 465,933 465,933 465,933 333,421 333,421 333,421 13,978,129 6,389,469 21,104,051 5,666,888 (12,792,810) 13,978,129 12,802,654 3,043,528 (9,456,713) 6,389,469 5 6 Current liabilities Trade and other payables Total current liabilities Total liabilities Net assets Equity Issued capital Reserves Accumulated losses Total equity 7 8 The above statement of financial position should be read in conjunction with the accompanying notes 8 Half year Financial Report - 31 December 2023 Condensed consolidated statement of changes in equity As at 31 December 2023 Share based payment Accumulated reserve losses $ $ Issued capital $ Total equity $ 9,335,854 3,109,966 (8,504,581) 3,941,239 - - (661,829) (661,829) (661,829) (661,829) Issue of share capital Capital raising cost 3,700,000 (213,200) - - 3,700,000 (213,200) Balance at 31 December 2022 12,822,654 3,109,966 (9,166,410) 6,766,210 Balance at 1 July 2023 12,802,654 3,043,528 (9,456,713) 6,389,469 - - (3,312,937) (23,160) (3,336,097) (3,312,937) (23,160) (3,336,097) 8,621,600 (320,203) 21,104,051 2,623,360 5,666,888 (12,792,810) 8,621,600 (320,203) 2,623,360 13,978,129 Balance at 1 July 2022 Loss after income tax expense for the period Other comprehensive income for the period, net of tax Total comprehensive loss for the period Loss after income tax expense for the period Other comprehensive loss for the period, net of tax Total comprehensive loss for the period Issue of share capital Capital raising cost Issue of director's options Balance at 31 December 2023 The above statement of changes in equity should be read in conjunction with the accompanying notes 9 Half year Financial Report - 31 December 2023 Condensed consolidated statement of cash flows For the half year ended 31 December 2023 Notes 31 December 2023 $ 31 December 2022 $ Cash flows from operating activities Receipts from customers relating to rental income Research and development tax refund Payments to suppliers and employees Net cash used in operating activities 55,641 241,175 (943,971) (647,155) 42,450 (331,584) (289,134) Cash flows from investing activities Payment for plant & equipment Exploration and evaluation expenditure capitalised Investment in financial asset (10,209) (401,697) (562,465) (1,081,387) - Net cash used in investing activities (974,371) (1,081,387) Cash flows from financing activities Issue of share capital Capital raising cost Payment of principal portion of lease liability Interest on leases Net cash from in financing activities 8,000,000 (320,203) 7,679,797 3,500,000 (153,200) (27,927) (4,073) 3,314,800 Net change in cash and cash equivalents held Cash and cash equivalents at beginning of the period Cash and cash equivalents at end of the period 6,058,271 1,303,165 7,361,436 1,944,279 500,655 2,444,934 The above statement of cash flows should be read in conjunction with the accompanying notes 10 Half year Financial Report - 31 December 2023 Notes to the condensed consolidated financial statements 1. Corporate information Firebrid Metals Limited (Firebird Metals or the Company) is a for-profit entity for the purpose of preparing the financial statements. Principal activities include exploration and evaluation of mineral resources and pursuing various investment opportunities in the resources sector designed to add shareholder value by acquiring, exploring, evaluating and exploiting mineral resource project opportunities in Australia. The company set up a fully owned subsidiary ‘Hunan Firebird Battery Technology Co., Ltd’ (HFRB) on 1 November 2023. Firebird Metals is domiciled in Australia whose shares are publicly traded and listed on the 18 March 2021 on Australian Securities Exchange (ASX:FRB). The address of its registered office and its principal place of business Suite 20, 513 Hay Street, Subiaco WA 6008. The consolidated financial statements were approved and authorised for issue by the Board of Directors on 14 March 2023. 2. Basis of preparation and statement of compliance The consolidated interim financial statements for the half year have been prepared in accordance with AASB 134 Interim Financial Reporting and the Corporations Act 2001. The consolidated interim financial statements do not include all of the information required for full annual financial statements and should be read in conjunction with the annual financial statements of the consolidated entity for the year ended 30 June 2023 and any public announcements made by the consolidated entity during the Half Year in accordance with the continuous disclosure requirements of the Corporations Act 2001 and the ASX Listing Rules. Selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in financial position and performance of the consolidated entity since the last annual financial statements. Going concern The consolidated interim financial report has been prepared on the going concern basis, which contemplates the continuity of normal business activity and the realisation of assets and the settlement of liabilities in the ordinary course of business. The consolidated entity incurred a loss for the half-year of $3,312,937 and an operating cash outflow of $647,155 and net cash outflow (before financing activities) of $1,621,526. The ability of the consolidated entity to continue as a going concern is principally dependent upon the ability of the consolidated entity to secure funds by raising capital from equity markets and managing cash flow in line with available funds. The directors have prepared a cash flow forecast, which indicates that the consolidated entity will have sufficient cash flows to meet all commitments and working capital requirements for the 12 month period from the date of signing this interim financial report. The directors are confident of the consolidated entity’s ability to continue as a going concern and to raise additional funds as may be required. However, in the event that the consolidated entity is unable to raise additional capital, material uncertainty would exist that may cast doubt on the ability of the Group to continue as a going concern. Should the consolidated entity be unable to continue as a going concern it may be required to realise its assets and extinguish its liabilities other than in the normal course of business and at amounts different to those stated in the interim financial statements. The interim financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or to the amount and classification of liabilities that might result should the consolidated entity be unable to continue as a going concern and meet its debts as and when they fall due. 11 Half year Financial Report - 31 December 2023 Notes to the condensed consolidated financial statements 3. New and amended accounting standards The accounting policies adopted in the preparation of the interim financial statements are consistent with those applied in the preparation of the Company’s annual financial statements for the year ended 30 June 2023. Standards and Interpretations applicable to 31 December 2023 In the period ended 31 December 2023, the Directors have reviewed all of the new and revised Standards and Interpretations issued by the AASB that are relevant to the consolidated entity and effective for the current reporting period. As a result of this review, the Directors have determined that there is no material impact of the new and revised Standards and Interpretations on the consolidated entity and, therefore, no material change is necessary to accounting policies. Standards and Interpretations in issue not yet adopted The Directors have also reviewed all of the new and revised Standards and Interpretations in issue not yet adopted for the period ended 31 December 2023. As a result of this review the Directors have determined that there is no material impact of the Standards and Interpretations in issue not yet adopted on the consolidated entity and, therefore, no change is necessary to accounting policies. 4. Segment reporting AASB 8 Operating Segments requires operating segments to be identified on the basis of internal reports about components of the Group that are regularly reviewed by the Chief Operating Decision Maker in order to allocate resources to the segment and to assess its performance. The Group’s operating segments have been determined with reference to the monthly management accounts used by the Chief Operating Decision maker to make decisions regarding the Group’s operations and allocation of working capital. Due to the size and nature of the Group, the Board as a whole has been determined as the Chief Operating Decision Maker. Identification of reportable operating segments Based on the quantitative thresholds included in AASB 8, the consolidated entity is organised into two operating segments, representing the Group’s two main projects in distinct geographical locations: the exploration and development of the Manganese project in East Pilbara, Australia, and the MnSO4 project in Hunan, China. Intersegment transactions There were no intersegment transactions Intersegment receivables, payables and loans Intersegment loans are initially recognised at the consideration received. Intersegment loans receivable and loans payable that earn or incur non-market interest are not adjusted to fair value based on market interest rates. Intersegment loans are eliminated on consolidation. 12 Half year Financial Report - 31 December 2023 Notes to the condensed consolidated financial statements 4. Segment reporting (continues) Segment information for the reporting period is as follows: Corporate/ Unallocated Hunan China Australia Total $ $ $ $ Profit or Loss Sundry income Exploration and evaluation expenditure Segment expenses Loss before income tax expense Income tax expense Loss after income tax Assets & Liabilities Segment assets Segment liabilities Net assets 406,816 (3,553,693) (3,146,877) (3,146,877) (56,022) (56,022) (56,022) (110,038) (110,038) (110,038) 406,816 (110,038) (3,609,715) (3,312,937) (3,312,937) 6,308,490 (446,497) 5,861,993 2,440,254 (19,436) 2,420,818 5,695,318 5,695,318 14,444,062 (465,933) 13,978,129 5. Exploration and evaluation 31 December 2023 $ 5,285,546 401,697 5,687,243 Carrying amount at the beginning of the period Exploration expenditures Carrying amount at the end of the period 30 June 2023 $ 4,680,105 605,441 5,285,546 The recoupment of costs carried forward in relation to areas of interest in the exploration and evaluation phases is dependent on the successful development and commercial exploitation or sale of the respective areas. 6. Financial assets 31 December 2023 $ Carrying amount at the beginning of the period MnSO4+Mn3O4 plant China Carrying amount at the end of the period 30 June 2023 $ 1,062,465 1,062,465 The Company incorporated a wholly owned Chinese subsidiary “Hunan Firebird Battery Technology Co., Ltd” (HFRB) on 1 November 2023. Since HFRB’s incorporation, the Company entered into an agreement with Jinshi Government laying out the requirements to develop and operate 50,000 tonnes per annum High Purity Manganese Sulphate (MnSO4) & 10,000 tonnes per year Battery Grade Manganese Tetroxide (Mn3O4) smelting facility (Equivalent of 72,500 tonnes per annum MnSO4). The agreement also includes the purchase of land & tax incentives for HFRB. HFRB acquired a patented technology on crystallisation reactor design and process which will enable HFRB’s processing cost to be within the lowest quartile to industry benchmarks. In addition to the patent, HFRB also engaged industry leading expert Mr Zhou Qiyun and his team to be technical executives. Mr Zhou (including his Company) and Firebird have entered into a Binding Heads of Agreement to grant Firebird an exclusive licence to use Mr Zhou and his company’s technology, including for the purpose of producing manganese sulphate, manganese oxide and LMFP (Lithium Manganese Iron Phosphate) P-CAM, the exclusive license includes key patents and intellectual property. 13 - Half year Financial Report - 31 December 2023 Notes to the condensed consolidated financial statements 6. Financial assets (continues) Terms include $100,000 cash on signing and $500,000 paid in FRB shares within 30 days of signing. $100,000 cash was paid and $500,000 worth of FRB shares were issued to Mr Zhou in December 2023. A further $2,500,000 equivalent to be converted into Chinese subsidiary “Hunan Firebird Battery Technology Co., Ltd“ shares on successful completion of the following key performance indicators; a) Completion of China Based Battery Grade Manganese sulphate PFS; b) Set up and running of Chinese Pilot Plant and R&D centre: c) Final Investment Decision made by Firebird Metals Board of Directors on China Based Battery Grade Manganese sulphate plant; and d) Agreed production levels achieved HFRB engaged Hunan Chemical Engineering Design Institute (HCEDI) to prepare a Feasibility Report (Chinese) that included engineering design and most permitting reports to ensure the project is designed to the highest standards. Soon after establishment of HFRB, a Research and Design Centre (R&D) was established. Testing of various input material to feed into the plant design and of testing new and improved processing techniques are also part of the R&D Centre uses. HFRB also signed a Strategic Co-operation Agreement with China Chemical to develop the Company’s Manganese Sulphate Plant. The Strategic Cooperation Agreement states the parties will use their respective strengths to collaborate on the project; covering investment, financing, engineering construction, operational management, industrial research and development, and the production of battery-grade manganese sulphate and tetroxide. 7. Share capital Share capital at 1 July 2023 Performance share issues on 18/10/2023 Share issues Tranche 1 on 27/10/2023 Share issues Tranche 2 on 6/12/2023 Share issues to suppliers as share-based payment on 6/12/2023 Share issues as part-consideration under the Heads of Agreement on 6/12/2023 Share issues final allotment on 28/12/2023 Capital raising cost At 31 December 2023 No. of shares 73,075,000 1,100,000 18,040,000 42,760,000 972,800 3,213,601 3,200,000 142,361,401 $ 12,802,654 2,255,000 5,345,000 121,600 500,000 400,000 (320,203) 21,104,051 The share capital of the Company consists only of fully paid ordinary shares. The shares do not have a par value. All shares are equally eligible to receive dividends and the repayment of capital and represent one vote at the shareholders’ meeting. 14 Half year Financial Report - 31 December 2023 Notes to the condensed consolidated financial statements 8. Reserves Share-based payments reserve $ Option payments reserve $ Total reserves $ Balance at 1 July 2022 Placement Options: 9,250,000 Placement Options 273,229 - 2,836,737 - 3,109,966 - Balance at 31 December 2022 273,229 2,836,737 3,109,966 Balance at 1 July 2023 273,229 2,770,299 3,043,528 - 1,354,828 1,268,532 1,354,828 1,268,532 273,229 5,393,659 5,666,888 Placement 12,500,000 Director’s Options on 06/12/2023 Placement 12,500,000 Director’s Options on 06/12/2023 Balance at 31 December 2023 8.1 Options Options at 1 July 2022 Opening balance Placement Options issues on 02/12/2022 At 31 December 2022 Options at 1 July 2023 Opening balance Placement 12,500,000 Director’s Options on 06/12/2023 Placement 12,500,000 Director’s Options on 06/12/2023 At 31 December 2023 15 No. of options 20,000,000 9,250,000 29,250,000 $ 2,836,737 2,836,737 29,250,000 12,500,000 12,500,000 54,250,000 2,770,299 1,354,828 1,268,532 5,393,659 Half year Financial Report - 31 December 2023 Notes to the condensed consolidated financial statements 8.2 Share-based payments The Company issued 25,000,000 options to directors and management during the period to align their long-term interests with the Company. These options vested immediately and have no vesting conditions. The Company has determined the fair value of its options using the Black Scholes pricing model. The options were issued during the half year ended 31 December 2023, alongside the key inputs in the pricing model, including the Company’s risk-free borrowing rate and volatility of the Company’s shares. Set out below is a summary of unlisted options and performances rights outstanding at 31 December 2023: Vested Share price at grant date Exercise price Fair value per unit Total fair value $ Unvested Grant date Issue date Expiry date (Cents) (Cents) (Cents) Unlisted broker options 4,500,000 - 27/01/21 18/03/21 18/03/24 10 30 2.22 99,900 Unlisted directors’ options 3,500,000 - 27/01/21 18/03/21 18/03/24 10 30 2.22 77,700 Unlisted directors’ & management options 10,000,000 - 23/11/21 23/11/21 30/11/26 53 100 24.4 2,439,333 Performance rights (tranche 1) - 1,100,000 27/01/21 18/03/21 18/03/26 20 N/A 20 220,000 Performance rights (tranche 2) - 1,100,000 27/01/21 18/03/21 18/03/26 20 N/A - - Performance rights (tranche 3) 1,100,000 - 27/01/21 18/03/21 18/03/26 20 N/A 1.613 53,229 2,000,000 - 1/03/22 2/12/22 30/11/26 30 100 10.99 153,366 12,500,000 29/11/23 6/12/23 6/12/28 16 30 10.84 1,354,828 12,500,000 29/11/23 6/12/23 6/12/28 16 40 10.15 1,268,532 Unlisted directors’ & management options Directors’ & management options Directors’ & management options Total 5,666,888 9. Other Revenue 31 December 2023 $ 55,641 241,175 110,000 406,816 Warehouse rent income Research and development tax refund Tenement sold Other Revenue 16 31 December 2022 $ 43,002 43,002 Half year Financial Report - 31 December 2023 Notes to the condensed consolidated financial statements 10. Loss per share 31 December 2023 $ (3,336,097) 86,697,536 (3.8) Net loss attributable to ordinary equity holders of the consolidated entity Weighted average number of ordinary shares* Loss per share (cents per share) 31 December 2022 $ (661,829) 64,532,065 (1.0) *Weighted average number of ordinary shares Date 01/07/2023 18/10/2023 27/10/2023 06/12/2023 06/12/2023 06/12/2023 28/12/2023 Total Number of shares 73,075,000 1,100,000 18,040,000 42,760,000 972,800 3,213,601 3,200,000 142,361,401 Days 184 75 66 26 26 26 4 Weight 1.0000 0.4076 0.3587 0.1413 0.1413 0.1413 0.0217 Weighted average number of ordinary shares 73,075,000 448,370 6,470,870 6,042,174 137,461 454,096 69,565 86,697,536 11. Contingencies There has been no change in contingent liabilities since the last annual reporting date (30 June 2023: $nil). 12. Subsequent events There have not been any events that have arisen between 31 December 2023 and the date of this report or any other item, transaction or event of a material and unusual nature likely, in the opinion of the Directors, to materially affect the operations of the consolidated entity, the results of those operations or the state of affairs of the consolidated entity, in subsequent financial years. 17 Half year Financial Report - 31 December 2023 Directors' declaration In accordance with a resolution of the directors of Firebird Metals Ltd, I state that: In the opinion of the Directors of Firebird Metals Limited: a) The consolidated interim financial statements and notes of Firebird Metals Limited are in accordance with the Corporations Act 2001, including: (i) Giving a true and fair view of its financial position as at 31 December 2023 and of its performance for the half-year ended on that date; and (ii) Complying with Accounting Standard AASB 134 Interim Financial Reporting; and b) There are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable. Signed in accordance with a resolution of the Directors: On behalf of the board ___________________________ Peter Allen Managing Director 14 March 2024 18 Grant Thornton Audit Pty Ltd Level 43 Central Park 152-158 St Ge