Income Tax Benefit (Tables)

12 Months Ended

Jun. 30, 2024

Income taxes paid (refund) [abstract]

Income tax (expense) / benefit

	Year Ended June 30,
	2024		2023		2022
	(In thousands of US Dollars)
Current tax expense	$	—	$	—	$	—
Deferred tax expense
Decrease/(increase) in deferred tax assets	(1,256)		176		(91)
(Decrease)/increase in deferred tax liabilities	1,256		(554)		(527)
	—		(378)		(618)
Income tax (expense) / benefit	$	—	$	378	$	618

Reconciliation of income tax benefit

	Year Ended June 30,
	2024		2023		2022
	(In thousands of US Dollars)
Loss before income tax:	$	(293,445)	$	(15,595)	$	(6,811)
Income tax benefit calculated at 30% (25% - 2022 & 2023)	(88,030)		(3,899)		(1,703)
Add: Commercial debt forgiveness gain	4,615		—		—
Less: Use of previously unrecognised tax now recouped to reduce current tax expense	(3,877)		—		—
Less: Use of Blackhole expenditure reserve to reduce current tax expense	(738)		—		—
Add: Non-deductible expenses	82,134		1,401		60
Add: Tax losses not recognised	5,240		1,907		781
Add: Accounting expenditure subject to R&D	655		374		432
Less: R&D tax recovery	—		(163)		(188)
Income tax benefit	$	—	$	(378)	$	(618)

Current and deferred tax liabilities/assets

	Year Ended June 30,
	2024		2023
	(In thousands of US Dollars)
Current tax assets
R&D tax incentive receivable	$	—	$	638
	—		638
Deferred tax assets	1,675		419
Deferred tax liabilities	(1,675)		(419)
Net deferred tax (liability)/asset	$	—	$	—

Deferred tax balance movement

	As of July 1, 2023		(Charged)/ credited to profit or loss*		Movement in equity		Exchange differences (charged)/credited to comprehensive loss		As of June 30, 2024
	(In thousands of US Dollars)
Derivative financial instruments	$	—	$	169	$	—	$	—	$	169
Contract liabilities	1		(1)		—		—		—
Lease liabilities	13		117		—		—		130
Share of loss of equity-accounted investee	15		(15)		—		—		—
Unused tax losses carryforwards	390		(390)		—		—		—
Provisions and accruals	—		400		—		2		$	402
Patent expenditure	—		88		—		1		89
Blackhole expenditure	—		884		—		—		884
Deferred tax assets	$	419	$	1,253	$	—	$	3	$	1,675

* This includes impact of the change in tax rate during the year.

	As of July 1, 2023		(Charged)/ credited to profit or loss*		Movement in equity		Exchange differences (charged)/credited to comprehensive loss		As of June 30, 2024
	(In thousands of US Dollars)
Borrowings and other financial liabilities	$	(390)	$	(1,137)	$	—	$	(16)	$	(1,543)
Property, plant and equipment	(8)		3		—		1		(5)
Unrealised foreign exchange gain	—		(13)		—		—		$	(13)
Right of use asset	(10)		(103)		—		(1)		(114)
Prepaid expenses	(11)		11		—		—		—
	$	(419)	$	(1,239)	$	—	$	(16)	$	(1,675)

* This includes impact of the change in tax rate during the year.

	As of July 1, 2022		(Charged)/ credited to profit or loss		Movement in equity		Exchange differences (charged)/credited to comprehensive loss		As of June 30, 2023
	(In thousands of US Dollars)
Derivative financial instruments	$	8	$	(8)	$	—	$	—	$	—
Deferred income	26		(24)		—		(1)		1
Lease liabilities	23		(9)		—		(1)		13
Share of loss of equity-accounted investee	2		13		—		—		15
Unused tax losses carryforwards	466		(58)		—		(18)		390
Provisions and accruals	93		(90)		—		(3)		—
Deferred tax assets	$	618	$	(176)	$	—	$	(23)	$	419

	As of July 1, 2022		(Charged)/ credited to profit or loss		Movement in equity		Exchange differences (charged)/credited to comprehensive loss		As of June 30, 2023
	(In thousands of US Dollars)
Borrowings – convertible notes	$	(585)	$	551	$	(378)	$	22	$	(390)
Property, plant and equipment	(5)		(3)		—		—		(8)
Right of use asset	(20)		10		—		—		(10)
Prepaid expenses	(8)		(4)		—		1		(11)
Deferred tax liabilities	$	(618)	$	554	$	(378)	$	23	$	(419)