2021 Annual Report

Notes to the consolidated financial statements 30 June 2021 (continued) 23 Discontinued operation (continued) (b) Details of the sale of the joint venture (continued) The carrying amounts of assets and liabilities as at the date of sale (31 May 2021) were: 31 May 2021 $'000 Cash and cash equivalents 3,406 Trade and other receivables 2,565 Property, plant and equipment 29,557 Inventories 100,515 Right-of-use assets 9,220 Mine properties 216,701 Exploration and evaluation expenditure 160 Total assets 362,124 Trade and other creditors (19,338) Lease liabilities (9,633) Provisions (30,207) Total liabilities (59,178) Net assets 302,946 24 Interests in subsidiaries (a) Significant investments in subsidiaries The consolidated financial statements incorporate the assets, liabilities and results of IGO Limited and the subsidiaries listed in the following table: Name of entity Note Country of incorporation Equity holding 2021 % 2020 % IGO Newsearch Pty Ltd Australia 100 100 IGO Stockman Parent Pty Ltd Australia 100 100 IGO Stockman Project Pty Ltd Australia 100 100 IGO Windward Pty Ltd Australia 100 100 Flinders Prospecting Pty Ltd Australia 100 100 IGO Europe Pty Ltd Australia 100 100 IGO Nova Holdings Pty Ltd (a) Australia 100 100 IGO Nova Pty Ltd (a) Australia 100 100 Independence Group Europe AB (b) Sweden - 100 IGO Lithium Holdings Pty Ltd (c) Australia 100 100 (a) These subsidiaries have been granted relief from the necessity to prepare financial reports in accordance with ASIC Corporations (Wholly-owned Companies) Instrument 2016/785 issued by the Australian Securities and Investments Commission. For further information refer to note 31. (b) Independence Group Europe AB was divested by the Group on 21 April 2021. (c) IGO Downstream Technologies Pty Ltd changed its name to IGO Lithium Holdings Pty Ltd during the year. IGO Limited 52 Notes to The Consolidated Financial Statements 30 June 2021 120 — IGO ANNUAL REPORT 2021