FY2021
Capella acquisition announced
The 100% acquisition was announced on 7 June 2021; completion on 6 September belongs to the following financial year.
ASX: A8G · Five-year financial review
(ASX: A8G) Australasian Metals Financial Review - FY2021~25
Australasian Metals remained an exploration business: its financial story is funding programmes and reassessing capitalised exploration, not selling mine output. The FY2025 cash increase and larger accounting loss had different causes—term-deposit maturity supported cash while non-cash impairment reduced earnings.
Reading the figures: Units are stated above each table or beside the metric. Brackets denote negative amounts. Supported nil is shown as zero; unlike reporting bases remain separately labelled.
FY2025 cash
A$3.039m
Term deposit had matured; do not add it again.
FY2025 statutory loss
A$2.583m
Includes non-cash exploration impairment.
FY2025 impairment
A$2.092m
Three exploration projects.
FY2025 equity
A$5.448m
Consolidated, not parent-only.
Five years in context
Gold exploration was joined by lithium and bauxite opportunities. Resource announcements and project agreements describe portfolio development; they do not establish commercial production or future project cash value.
The five-year statement view uses coherent comparative observations and previously saved corrections. Conflicting standalone slices remain in the archive, but are not allowed to contaminate the displayed company series.
Events behind the numbers
FY2022
Lithium portfolio and new name
A 90% Barrow Creek joint-venture interest was acquired. The Australasian Metals name followed the November 2021 AGM.
FY2023
Resource and bauxite milestones
A 63,600oz inferred resource was reported for Capella/Mt Clermont, while an agreement added May Queen South Bauxite exposure. Neither is mining revenue.
FY2024
A treasury allocation
An A$2m eleven-month term deposit was established in June 2024. Lower cash equivalents therefore do not represent only operating or exploration spending.
FY2025
Recoverability reassessed
Mt Peake, Barrow Creek and May Queen Gold were impaired. The term deposit matured in May and was not renewed.
FINANCIAL REVIEW / 01
A larger loss does not equal the same cash outflow
The FY2025 impairment dominates the change in reported loss. Operating cash flow is a narrower measure: exploration payments can be investing activities, and non-cash charges do not create an immediate cash outflow.
Statutory losses
A$ million
Statutory loss after tax
AI-generated presentation · values from Earnings and operating cash flow; no missing values plotted as zero.
Operating cash consumption
A$ million
Operating cash flow
AI-generated presentation · values from Earnings and operating cash flow; no missing values plotted as zero.
Earnings and operating cash flow
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Other income | 0.026 | 0.050 | 0.304 | 0.498 | 0.118 |
| Statutory loss after tax | (0.967) | (0.998) | (0.250) | (0.336) | (2.583) |
| Operating cash flow | (0.329) | (0.930) | (0.236) | (0.123) | (0.287) |
FY2021 is the FY2022 comparative; FY2024 income is the FY2025 comparative. The FY2024 cash-flow-statement comparative is A$(123,390), A$1 different from the reconciliation-note extraction. The statement amount is retained.
Other income is not mineral sales. Operating cash excludes investing exploration payments.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 02
Deposit maturity explains much of the cash recovery
Recovering the A$2m deposit principal was a conversion of an existing asset into cash, not new income. FY2025 share receipts provided additional funding while exploration payments continued. The cash-flow categories make those sources and uses visible without treating every receipt as revenue.
Where cash moved
A$ million
Operating cash flowInvesting cash flowFinancing cash flow
AI-generated presentation · values from Operating, investing and financing cash flows; no missing values plotted as zero.
Deposit principal versus net cash change
A$ million
Term-deposit principal: placement / returnNet change in cash held
AI-generated presentation · values from What moved cash in FY2024-FY2025; no missing values plotted as zero.
Operating, investing and financing cash flows
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Operating cash flow | (0.329) | (0.930) | (0.236) | (0.123) | (0.287) |
| Investing cash flow | (0.182) | (1.504) | (0.867) | (2.711) | 1.449 |
| Financing cash flow | 5.582 | 2.340 | (0.017) | (0.042) | 0.726 |
FY2024 investing includes placing A$2m on term deposit; FY2025 investing includes recovering that principal. Neither transaction is operating revenue. Financing is net of relevant issue costs and lease repayments, rather than gross shares issued.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
What moved cash in FY2024-FY2025
A$ million
| Metric | FY2024 | FY2025 |
|---|---|---|
| Term-deposit principal: placement / return | (2.000) | 2.000 |
| Net change in cash held | (2.877) | 1.888 |
| Closing cash | 1.151 | 3.039 |
This is a selected explanation, not an exhaustive cash-flow bridge. FY2025 also includes A$0.750m gross share proceeds and A$0.551m exploration cash payments.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 03
Cash and capitalised exploration dominate the asset story
The FY2025 impairment reduced exploration carrying amounts and equity. Consolidated totals differ slightly from parent-only notes; the group figures are used consistently here. Resource estimates are not plugged into asset values.
Cash and capitalised exploration
A$ million
Cash and cash equivalentsExploration and evaluation carrying amount
AI-generated presentation · values from Consolidated balance sheet: five balance dates; no missing values plotted as zero.
Consolidated equity
A$ million
Total equity
AI-generated presentation · values from Consolidated balance sheet: five balance dates; no missing values plotted as zero.
Consolidated balance sheet: five balance dates
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 5.243 | 5.148 | 4.028 | 1.151 | 3.039 |
| Exploration and evaluation carrying amount | 0.813 | 2.399 | 3.182 | 3.863 | 2.231 |
| Total assets | 6.155 | 7.722 | 7.407 | 7.357 | 5.658 |
| Total liabilities | 0.305 | 0.284 | 0.219 | 0.230 | 0.210 |
| Total equity | 5.850 | 7.438 | 7.187 | 7.128 | 5.448 |
FY2024 and FY2025 use the consolidated FY2025 statement and its comparative, retained in correction decisions saved on 24 September 2026. Parent-only balances are not substituted.
FY2024 cash excludes an A$2m term deposit then held separately. Its FY2025 maturity changes the composition of liquidity; closing-cash growth is not all new funding. Exploration carrying amounts are not resource valuations.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 04
Three project write-downs, one impairment total
The saved explanation describes recoverable amounts using fair value less disposal costs and Level 3 inputs. A carrying-value reduction is distinct from project abandonment or a physical resource revision. The Dingo Hole option-fee write-off is a separate decision and is not silently added to this three-project allocation.
Projects behind the FY2025 charge
A$ million
Mt Peake LithiumBarrow Creek LithiumMay Queen Gold
AI-generated presentation · values from FY2025 non-cash exploration impairment; no missing values plotted as zero.
FY2025 non-cash exploration impairment
A$ million
| Metric | FY2025 |
|---|---|
| Mt Peake Lithium | 0.698 |
| Barrow Creek Lithium | 0.868 |
| May Queen Gold | 0.526 |
| Total impairment | 2.092 |
Positive expense magnitudes. May Queen Gold is not the May Queen South Bauxite resource. The charge does not measure cash paid or tonnes removed from a geological resource.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Reading the figures
- The original FY2021 and FY2024 extraction slices contain conflicting company data. The displayed series instead identifies same-company comparative records, including FY2024 comparatives preserved in the FY2025 correction decisions. The upstream extraction files remain unchanged.
- Repairs reuse decisions already saved on 24 September 2026 from registered annual tables. No PDF, raw body, new database query, new extraction or financial web research was used in this run.
- The FY2024 operating cash statement and reconciliation differ by A$1; the statement amount is selected and the discrepancy retained.
- Primary-author review is not independent original-document assurance. This is the publication edition.
Annual-report source registry
- Australasian Metals Limited - Annual Report to shareholdersConflicting standalone slice not used for financial series; adjacent-year comparative selected. Registered report date 2021-09-30.
- Australasian Metals Limited - Annual Report to shareholdersExisting annual extraction; FY2025 also uses correction decisions saved 24 September 2026. Registered report date 2022-09-28.
- Australasian Metals Limited - Annual Report to shareholdersExisting annual extraction; FY2025 also uses correction decisions saved 24 September 2026. Registered report date 2023-09-27.
- Australasian Metals Limited - Annual Report to shareholdersConflicting standalone slice not used for financial series; adjacent-year comparative selected. Registered report date 2024-09-26.
- Australasian Metals Limited - Annual Report to shareholdersExisting annual extraction; FY2025 also uses correction decisions saved 24 September 2026. Registered report date 2025-09-29.
Prepared from existing year-by-year extractions and explicitly identified correction decisions saved on 24 September 2026. The correction records were already derived from registered annual tables; no new original table retrieval was performed for this report. No raw annual-report body, PDF, new database lookup or financial web research was used. Review is against those stored extractions, not a new independent original-document audit.
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