FY2021
Capital structure reset
A 13-for-1 share consolidation took effect in March 2021. Share counts and per-share comparisons require that basis adjustment.
ASX: AEE · Five-year financial review
(ASX: AEE) Aura Energy Financial Review - FY2021~25
Aura’s financial story is a development-and-funding cycle, not a uranium production history. Exploration assets expanded while operating and investing cash flows remained negative. The latest increase in accounting loss also includes substantial non-cash charges, making it important to read cash, asset carrying values and earnings separately.
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.
June 2025 cash
A$11.741m
Balance-date cash, not committed project funding.
FY2025 group loss
A$15.343m
Includes material share-based and impairment charges.
Exploration assets
A$50.549m
Accounting carrying amount at June 2025.
FY2025 exploration cash
A$10.253m
Cash payments, not total group loss.
Five years in context
Tiris in Mauritania and Häggån in Sweden underpin the development portfolio. The disclosed interests differ: Tiris is 85% owned while Häggån is 100%. Group asset balances cannot be translated directly into wholly owned uranium output.
Studies and engineering advanced the project case, but funding discussions and future production targets are not completed financing or historical sales. This review therefore prioritises cash deployment and the conditions attached to the development timetable.
Events behind the numbers
FY2022
Resource work and portfolio planning
Tiris resource-upgrade work progressed; a Tasiast spin-off was announced in November 2021. Announcement is not treated as a completed disposal.
FY2023
Enhanced feasibility study
The enhanced Tiris DFS was released in the March 2023 quarter, followed by engineering work. Study production rates remain forward-looking.
FY2024
Front-end engineering completed
The February 2024 FEED milestone advanced the project definition while exploration cash expenditure increased.
FY2025
Offtake restructured; Tasiast impaired
The Curzon fee was settled in shares in August 2024. Tasiast South was fully impaired, while project financing remained a separate requirement.
FINANCIAL REVIEW / 01
Equity inflows supported continuing cash use
The latest financing inflow did not fully offset operating and investing outflows. Accounting loss also rose sharply, but it is not a proxy for the amount of cash invested in Tiris.
The balance-date cash buffer
A$ million
Closing cash - cash-flow statement
AI-generated presentation · values from Five-year group earnings and cash flows; no missing values plotted as zero.
Annual cash use and financing
A$ million
Net operating cash flowNet investing cash flowNet financing cash flow
AI-generated presentation · values from Five-year group earnings and cash flows; no missing values plotted as zero.
Five-year group earnings and cash flows
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Group loss after tax | (2.985) | (3.404) | (6.796) | (6.610) | (15.343) |
| Net operating cash flow | (0.966) | (2.691) | (3.521) | (4.836) | (6.555) |
| Net investing cash flow | (0.608) | (2.729) | (7.262) | (12.068) | (10.456) |
| Net financing cash flow | 4.576 | 12.956 | 11.639 | 22.116 | 12.231 |
| Closing cash - cash-flow statement | 3.207 | 10.707 | 11.276 | 16.471 | 11.741 |
FY2023 group loss uses the restated FY2024 comparative. Cash flows use their identified fiscal years, including the FY2023 original extraction.
Group loss is not the attributable loss or total comprehensive loss. FY2022 cash-flow closing cash includes the reporting perimeter of that statement, not just its separately presented balance-sheet bank line.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 02
A growing asset base is not a cash reserve
Exploration and evaluation assets account for most of the balance sheet. Their growth records capitalised work and project interests, while net current assets captures a narrower liquidity position. Neither metric removes the need to fund future development.
Exploration assets and group equity
A$ million
Exploration and evaluation assetsTotal group equity
AI-generated presentation · values from Exploration assets dominate the balance sheet; no missing values plotted as zero.
Exploration assets dominate the balance sheet
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Total assets | 23.708 | 34.909 | 41.371 | 58.874 | 63.186 |
| Exploration and evaluation assets | 20.397 | 22.323 | 29.946 | 41.895 | 50.549 |
| Total liabilities | 1.708 | 1.294 | 1.569 | 3.806 | 2.358 |
| Total group equity | 22.001 | 33.614 | 39.802 | 55.068 | 60.828 |
| Net current assets | 1.604 | 11.287 | 9.804 | 13.044 | 9.871 |
FY2023 balance-sheet observations are restated comparatives. Group equity includes non-controlling interests.
Capitalised exploration is a carrying amount, not cash, a reserve valuation or proof that construction is financed.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 03
Project cash payments increased before easing
Exploration cash payments rose as studies and engineering progressed, then eased in FY2025. The asset carrying amount can still grow because cash payments, capitalised costs, impairment and currency effects are different accounting movements.
Exploration cash outflow
A$ million
Exploration and evaluation cash payments
AI-generated presentation · values from Cash invested in exploration and evaluation; no missing values plotted as zero.
Cash invested in exploration and evaluation
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Exploration and evaluation cash payments | (0.608) | (2.723) | (7.260) | (11.990) | (10.253) |
Signed cash payments. This row is neither the annual expense in profit or loss nor the closing capitalised asset balance.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 04
Non-cash costs explain part of the loss increase
The sharp increase in share-based payments and the Tasiast write-down are important when interpreting FY2025 earnings. Curzon received shares for restructuring the uranium offtake agreement; the stated A$5.4m fee should not be described as a cash payment. No unsupported adjusted-profit figure is constructed here.
Selected non-cash charges
A$ million
Share-based paymentsImpairment
AI-generated presentation · values from Selected expense drivers behind the FY2025 loss; no missing values plotted as zero.
Selected expense drivers behind the FY2025 loss
A$ million
| Metric | FY2024 | FY2025 |
|---|---|---|
| Employee benefits | (2.324) | (2.202) |
| Corporate and administration | (3.533) | (4.766) |
| Share-based payments | (0.585) | (6.278) |
| Impairment | 0.000 | (2.640) |
Selected expenses, not a complete profit reconciliation. Share-based payments and impairment are not additional cash exploration payments.
The company disclosed a A$5.4m Curzon restructuring fee settled in shares and a full A$2.640m write-down of Tasiast South; these are distinct transactions.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 05
Financing and permit timing remain conditions, not completed outcomes
The FY2025 report retained material going-concern uncertainty if further funding could not be secured. Its reference to additional funding in Q2 2026 was a forecast at that report date, not confirmation of a subsequent raising.
The issuer also disclosed differing interpretations of the Tiris development deadline. It reported legal advice that permits remained valid, no default notice, and extension discussions. Both the timing issue and the company’s response are preserved here; this is not an independent legal conclusion.
Equity funding and repayment of option-related borrowing
A$ million
| Metric | FY2024 | FY2025 |
|---|---|---|
| Placement proceeds after issue costs | 16.874 | 13.597 |
| Option funding receipts | 3.691 | 0.000 |
| Option funding repayments | (1.952) | (1.222) |
| Closing short-term loans | 1.202 | 0.000 |
| Current lease liabilities | 0.111 | 0.197 |
| Non-current lease liabilities | 0.151 | 0.085 |
Cash receipts and repayments are annual flows; loan and lease rows are closing balances and must not be added to those flows.
Repayment of short-term borrowing does not remove lease obligations or the need for future project financing.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Reading the figures
- Prepared only from the frozen annual extraction packet. No original documents, parsed-body retrieval, new DB search, financial web research or new extraction. Primary-author review is not an independent audit.
- The FY2023 restated group balances and loss are retained deliberately; original FY2023 cash flows are used where later extraction period labels conflict.
- Note-reference numbers and mislabelled comprehensive-income rows in the extraction are not used as monetary observations. The group net-loss claim corroborates the FY2025 result.
- The FY2022 cash-flow closing balance and the separate bank balance use different presentation scope; they are not forced into equality. An inconsistent unused non-current-assets subtotal is logged separately.
- Tiris reserve figures have inconsistent extracted observations, so no reserve valuation or production forecast is constructed from them. This does not alter the selected financial series.
- Forecast milestones, funding discussions and management permit positions are historical disclosures, not verified developments after FY2025. Publication edition.
Annual-report source registry
- Aura Energy Limited - Annual ReportFrozen annual extraction; original and comparative fiscal identities retained.
- Aura Energy Limited - Annual ReportFrozen annual extraction; original and comparative fiscal identities retained.
- Aura Energy Limited - Annual ReportFrozen annual extraction; original and comparative fiscal identities retained.
- Aura Energy Limited - 30 June 2024 Annual ReportFrozen annual extraction; original and comparative fiscal identities retained.
- Aura Energy Limited - Annual Report to shareholdersFrozen annual extraction; original and comparative fiscal identities retained.
Prepared solely from the existing year-by-year extraction datasets. 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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AI-led method
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