FY2021
NSW exploration and agreed disposal
Field work continued at Brungle Creek and an agreement was made to dispose of Koonenberry. Completion in August 2021 belongs after the June balance date.
ASX: AOA · Five-year financial review
(ASX: AOA) Ausmon Resources Financial Review - FY2021~25
Ausmon’s financial story is exploration funded by share issues, asset disposals and borrowing, not a producing mine’s operating margin. By June 2025, cash was very limited and exploration assets represented most of the balance sheet. Funding access and cash actually held need to be read 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.
FY2025 cash
A$10,968
Cash held at 30 June.
FY2025 loss
A$1.047m
Includes exploration impairment.
Drawn borrowing
A$0.940m
Non-current at June 2025.
Exploration assets
94% of assets
Auditor-identified concentration.
Five years in context
The portfolio evolved from NSW gold and base-metal exploration toward ionic-clay rare earth opportunities in South Australia. Ausmon remained an exploration group without product-sales revenue; production, AISC and sales-volume tables would therefore give the wrong impression.
The Koonenberry disposal combined cash and listed shares. Later sales and revaluations of those investments affected both cash and earnings, but the two measures do not move together.
Events behind the numbers
FY2022
Koonenberry sold; REE applications
The disposal delivered cash plus Odin shares. South Australian rare earth applications progressed; the July 2022 licence grants belong to the following financial year.
FY2023
Limestone Coast licences and studies
Four licences were granted in July 2022. Historic-hole testing and low-cost studies prepared the ground for planned drilling rather than establishing mine revenue.
FY2024
Drilling priorities and debt funding
Exploration prioritised Enmore and the Limestone Coast while some other field work paused. The working-capital facility was increased and extended.
FY2025
Equity raising and further borrowing
A share purchase plan and placement raised fresh equity. Enmore drilling paused after technical difficulties; resumption was planned subject to financing.
FINANCIAL REVIEW / 01
A shrinking cash buffer despite repeated financing
The FY2025 operating and investing outflows exceeded financing inflows. Available borrowing capacity helps explain how work could continue, but it is not cash already received. The auditor recorded a material going-concern uncertainty.
Closing cash
A$ million
Closing cash
AI-generated presentation · values from Five-year earnings and cash record; no missing values plotted as zero.
Operating cash and financing
A$ million
Operating cash flowFinancing cash flow
AI-generated presentation · values from Five-year earnings and cash record; no missing values plotted as zero.
Five-year earnings and cash record
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Loss after tax | (0.583) | (0.370) | (0.511) | (0.365) | (1.047) |
| Operating cash flow | (0.361) | (0.441) | (0.429) | (0.276) | (0.435) |
| Investing cash flow | (0.727) | (0.156) | (0.269) | (0.332) | (0.384) |
| Financing cash flow | 0.752 | 0.952 | 0.365 | 0.557 | 0.803 |
| Closing cash | 0.055 | 0.410 | 0.078 | 0.026 | 0.011 |
Years ended 30 June; A$ million, rounded. FY2025 closing cash is A$10,968, not A$0.011 in absolute dollars.
Operating cash excludes exploration payments classified as investing.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 02
Project spending builds an asset, not immediate revenue
Exploration cash continued even as the cash buffer narrowed. The FY2025 exploration asset remained substantial after a recorded impairment; its recovery depends on successful project outcomes or sale.
Exploration payments
A$ million
Exploration and evaluation payments
AI-generated presentation · values from Cash spent on exploration; no missing values plotted as zero.
Cash spent on exploration
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Exploration and evaluation payments | (0.717) | (0.263) | (0.294) | (0.526) | (0.487) |
Investing cash outflows; they are already included in the investing total above.
Changes in capitalised exploration also include accounting adjustments; these payments are not a complete asset roll-forward.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 03
Positive equity does not imply ready liquidity
Exploration assets dominated total assets. Current liabilities exceeded current assets in FY2025, while the non-current facility balance increased. The statement therefore shows positive book equity alongside near-term funding dependence.
Equity and drawn non-current borrowings
A$ million
Total equityNon-current borrowings
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 |
|---|---|---|---|---|---|
| Capitalised exploration and evaluation | 1.151 | 1.370 | 1.901 | 2.462 | 2.375 |
| Total assets | 1.335 | 2.114 | 2.355 | 2.828 | 2.534 |
| Current assets | 0.104 | 0.674 | 0.385 | 0.285 | 0.079 |
| Current liabilities | 0.228 | 0.267 | 0.499 | 0.361 | 0.263 |
| Total liabilities | 0.353 | 0.512 | 0.506 | 0.965 | 1.203 |
| Total equity | 0.982 | 1.602 | 1.849 | 1.862 | 1.331 |
| Non-current borrowings | 0.125 | 0.240 | 0.000 | 0.450 | 0.940 |
Exploration carrying amounts depend on successful development, exploitation or sale; they are not cash and are not a project valuation.
FY2025 current assets of A$78,696 were below current liabilities of A$262,903. An undrawn facility is separate from both closing cash and debt already drawn.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 04
Borrowing receipts must be read alongside repayments
The FY2025 facility ceiling was A$1.6m with A$0.66m undrawn at June. July loan notes and the later A$0.975m available balance are subsequent events, not the June position. Conflicting rate wording in the packet is not used to calculate a financing forecast.
Borrowing inflows and repayments
A$ million
Borrowings receivedBorrowings repaid
AI-generated presentation · values from Funding sources and repayments; no missing values plotted as zero.
Funding sources and repayments
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Gross share-issue cash | 0.683 | 0.713 | 0.648 | 0.156 | 0.399 |
| Borrowings received | 0.125 | 0.415 | 0.070 | 0.730 | 1.311 |
| Borrowings repaid | 0.000 | (0.300) | (0.310) | (0.280) | (0.821) |
| Borrowing costs paid | (0.016) | (0.018) | (0.029) | (0.049) | (0.087) |
Selected cash lines, not a full reconciliation to financing cash; share costs, treasury transactions and EIP loan repayments also occur.
Shares issued for director fees and employee incentive arrangements are not automatically cash receipts.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 05
Impairment and investment losses enlarged the accounting loss
The latest result includes exploration impairment, share-based payments and realised/unrealised investment losses. These are distinct from exploration cash outlays and from the gross proceeds of selling shares in G11 Resources.
Why FY2025 loss differs from cash use
A$ million
| Metric | FY2024 | FY2025 |
|---|---|---|
| Loss after tax | (0.365) | (1.047) |
| Interest and other income / (loss) | 0.196 | (0.068) |
| Exploration impairment expense | 0.000 | (0.368) |
| Share-based payment expense | (0.071) | (0.048) |
Selected earnings drivers; this is not an additive bridge to loss.
The income statement and management summary both record FY2025 impairment of A$368,111. A contradictory no-impairment narrative in the packet is not used to erase the charge.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Reading the figures
- Existing frozen annual extraction only. No original-document retrieval, fresh DB search, financial web research or MiniMax drafting. This remains an published primary-author-reviewed copy.
- FY2025 impairment is supported by the income statement and management summary; a conflicting no-impairment claim is retained in the review log rather than used as a factual conclusion.
- The extracted facility-rate and undrawn-capacity narrative contains inconsistent dates and percentages. June drawn and available amounts are distinguished from subsequent refinancing; no interest forecast is derived.
- Director-fee settlement amounts differ across narrative extracts. They are not reconstructed into an unsupported cash receipt.
- The report uses June fiscal years, not the publication year of post-balance-date exploration and funding developments.
Annual-report source registry
- Ausmon Resources - Annual Report to shareholdersFrozen annual extraction; statement cash and non-cash project/accounting items distinguished.
- Ausmon Resources - Annual Report to shareholdersFrozen annual extraction; statement cash and non-cash project/accounting items distinguished.
- Ausmon Resources - Annual Report to shareholdersFrozen annual extraction; statement cash and non-cash project/accounting items distinguished.
- Ausmon Resources - Annual Report to shareholdersFrozen annual extraction; statement cash and non-cash project/accounting items distinguished.
- Ausmon Resources - Annual Report to shareholdersFrozen annual extraction; statement cash and non-cash project/accounting items distinguished.
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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