d) 
Share-based Payment Transactions 
The fair value of share-based payment awards granted to employees is recognised as an expense at grant date with a 
corresponding increase in equity, over the period that employees become entitled to the awards.  The amount recognised 
as an expense is adjusted to reflect the number of awards for which the related service and non-market vesting conditions 
are expected to be met, such that the amount ultimately recognised as an expense is based on the number of awards that 
meet the related service and non-market performance conditions at the vesting date.  For share-based payment awards 
with non-vesting conditions, the grant date fair value of the share-based payment is measured to reflect such conditions 
and there is no true-up for differences between expected and actual outcomes. 
Share-based payment arrangements in which the Group receives goods or services as consideration for its own equity 
instruments are accounted for as equity-settled share-based payment transactions, regardless of how the equity 
instruments are obtained by the Group. 
When the Company grants options over its shares to employees of subsidiaries, the fair value at grant date is recognised as 
an increase in the investments in subsidiaries, with a corresponding increase in equity over the vesting period of the grant. 
5.13 Provisions 
A provision is recognised if, as a result of a past event, the Group has a present legal or constructive obligation that can be 
estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation.  
Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market 
assessments of the time value of money and the risks specific to the liability.  The unwinding of the discount is recognised 
as a finance cost. 
5.14 Finance Income and Finance Costs 
Finance income comprises interest income on funds invested, dividend income, gains on the disposal of debt securities 
measured at fair value through other comprehensive income, changes in the fair value of financial assets at fair value 
through profit and loss, and gains on hedging instruments that are recognised in profit or loss.  Interest income is recognised 
as it accrues in profit or loss, using the effective interest method.  Dividend income is recognised in profit or loss on the date 
that the Group’s right to receive payment is established, which in the case of quoted securities is the ex-dividend date.  
Finance costs comprise interest expense on borrowings, losses on the disposal of debt securities measured at fair value 
through other comprehensive income, changes in the fair value of financial assets at fair value through profit or loss and 
losses on hedging instruments that are recognised in profit or loss.  Borrowing costs that are not directly attributable to the 
acquisition, construction or production of a qualifying asset are recognised in profit or loss using the effective interest 
method.   
Foreign currency gains and losses are reported on a net basis. 
5.15 Income Tax 
Income tax expense comprises current and deferred tax.  Current and deferred tax is recognised in profit or loss except to 
the extent that it relates to a business combination, or items recognised directly in equity or in other comprehensive income. 
Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or 
substantively enacted at the reporting date and any adjustment to tax payable in respect of previous years. 
Deferred tax is recognised in respect of temporary differences between the carrying amounts of assets and liabilities for 
financial reporting purposes and the amounts used for taxation purposes. 
Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, based 
on the laws that have been enacted or substantively enacted by the reporting date.  Deferred tax assets and liabilities are 
offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied 
by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax 
liabilities and assets on a net basis or their tax assets and liabilities will be realised simultaneously. 
A deferred tax asset is recognised for unused tax losses, tax credits and deductible temporary differences, to the extent that 
it is probable that future taxable profits will be available against which they can be utilised.  Deferred tax assets are reviewed 
at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realised. 
 
 
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CENTAURUS METALS LIMITED     ANNUAL REPORT

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