FY2021
Portfolio disposals and WA targets
The Pyramid sale was completed in September 2020, followed by the remaining Queensland projects. Paterson Range exploration planning continued.
ASX: AVW · Five-year financial review
(ASX: AVW) Avira Resources Financial Review - FY2021~25
Avira moved from Western Australian exploration into Sweden, then added Tangadee. Financing rebuilt cash in FY2022, but subsequent exploration and corporate spending drew it down. FY2025 brought lower cash expenditure without removing funding uncertainty.
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$0.338m
June closing cash.
FY2025 loss
A$0.646m
Consolidated after-tax result.
Exploration assets
A$1.544m
Capitalised carrying value.
FY2025 net financing
A$0.482m
Equity securities to be issued, net of costs.
Five years in context
The portfolio changed, but the activity remained mineral exploration rather than an operating mine. The Puolalaki agreement in October 2022 opened a Swedish exploration programme; Tangadee interests were added in FY2025.
The balance sheet became more weighted toward exploration carrying values as cash declined. Recoverability of those assets depends on development, exploitation or sale; neither drill intercepts nor nearby operating mines establish Avira production or revenue.
Events behind the numbers
FY2022
Cash rebuilt before new programmes
Financing replenished the cash balance while work focused on WA targets, including a December 2021 Wyloo field visit.
FY2023
Swedish entry; Paterson impairment
The October 2022 Puolalaki agreement led to drilling in April 2023. Paterson expenditure was impaired because substantive further exploration was not planned or budgeted.
FY2024
Puolalaki follow-up drilling
Phase 2 drilling finished in February 2024. Stage 2 earn-in completion and surrender of the non-core Paterson tenements followed in July, after the June year-end.
FY2025
Tangadee added; cash use reduced
The Tangadee licences expanded the WA portfolio. Puolalaki Stage 2 completion fell in July 2024, within this financial year. Exploration cash payments were much lower than in FY2024.
FINANCIAL REVIEW / 01
Funding inflows mattered as much as the loss
Net financing did not fully cover operating and investing outflows in FY2025. The smaller annual loss therefore did not mean a cash surplus. The auditor highlighted a material going-concern uncertainty without modifying the audit opinion.
Year-end cash
A$ million
Closing cash
AI-generated presentation · values from Five-year cash and earnings record; no missing values plotted as zero.
Operating cash and net financing
A$ million
Operating cash flowFinancing cash flow
AI-generated presentation · values from Five-year cash and earnings record; no missing values plotted as zero.
Five-year cash and earnings record
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Consolidated loss after tax | (1.099) | (0.916) | (1.289) | (0.712) | (0.646) |
| Operating cash flow | (1.176) | (1.070) | (0.831) | (0.625) | (0.569) |
| Investing cash flow | 0.210 | 0.000 | (0.705) | (0.656) | (0.078) |
| Financing cash flow | 0.523 | 3.153 | 0.194 | 0.757 | 0.482 |
| Closing cash | 0.305 | 2.388 | 1.030 | 0.503 | 0.338 |
Australian dollars converted to millions. Group totals, not parent-only or subsidiary accounts.
FY2024 group loss is A$0.712m; A$0.716m is attributable to owners after the non-controlling share.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 02
Exploration assets grew while liquidity narrowed
The latest asset base includes capitalised exploration, cash and smaller receivables and financial assets. A larger exploration asset is not an immediately spendable funding source. Current liabilities also rose in FY2025.
Exploration assets versus consolidated equity
A$ million
Capitalised exploration and evaluationTotal consolidated equity
AI-generated presentation · values from What remains on the balance sheet; no missing values plotted as zero.
What remains on the balance sheet
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Total assets | 0.822 | 2.928 | 1.898 | 1.795 | 1.944 |
| Total consolidated equity | 0.560 | 2.793 | 1.743 | 1.791 | 1.829 |
| Capitalised exploration and evaluation | 0.371 | 0.378 | 0.653 | 1.256 | 1.544 |
| Current assets | 0.375 | 2.523 | 1.223 | 0.522 | 0.390 |
| Current liabilities | 0.261 | 0.135 | 0.155 | 0.004 | 0.114 |
Capitalised exploration is a carrying value, not cash, a mine valuation or confirmed sale proceeds.
Negative non-controlling equity remains included in consolidated equity; it is not omitted to inflate net assets.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 03
Lower exploration cash does not equal the expense line
FY2023 included the Paterson impairment. The latest comparison separates capitalised exploration payments, expensed exploration, project-receivable impairment and financial-asset remeasurement. These are distinct mechanisms, not interchangeable measures of field activity.
Exploration cash and expense
A$ million
Exploration cash paymentsExploration expense
AI-generated presentation · values from Recent exploration: cash versus expense; no missing values plotted as zero.
Recent exploration: cash versus expense
A$ million
| Metric | FY2024 | FY2025 |
|---|---|---|
| Exploration cash payments | (0.656) | (0.078) |
| Exploration expense | (0.039) | (0.047) |
| Project-receivable impairment | (0.076) | 0.000 |
| Financial-asset fair-value loss | (0.024) | (0.009) |
Cash payments and accrual expenses are different bases and are not added together. Nil is explicitly supported in the packet.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 04
Use group totals consistently
FY2024 loss attributable to owners is slightly larger than the consolidated loss because non-controlling interests received a profit share. Similarly, negative non-controlling equity reduces total consolidated net assets. Mixing these bases would distort year-to-year comparisons.
Owners versus the consolidated group
A$ million
| Metric | FY2024 | FY2025 |
|---|---|---|
| Equity attributable to owners | 2.960 | 2.998 |
| Non-controlling equity | (1.168) | (1.168) |
| Consolidated equity | 1.791 | 1.829 |
This ownership bridge explains why group equity is below the amount attributable to owners.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Reading the figures
- Frozen existing annual extraction only; no PDF, parsed-body retrieval, new DB query or financial web research.
- Exploration milestones are not reserves, production, sales or a funded development decision.
- The cash statement provides selected current-year details rather than a complete FY2025 financing instrument reconciliation.
- Published primary-author review; no independent audit.
Annual-report source registry
- Avira Resources - AVW - Annual Report 30 June 2021Existing annual extraction; group and parent/NCI distinctions preserved.
- Avira Resources - AVW - Annual Report 30 June 2022Existing annual extraction; group and parent/NCI distinctions preserved.
- Avira Resources - AVW - Annual Report 30 June 2023Existing annual extraction; group and parent/NCI distinctions preserved.
- Avira Resources - Annual Report to shareholdersExisting annual extraction; group and parent/NCI distinctions preserved.
- Avira Resources - Annual Report to shareholdersExisting annual extraction; group and parent/NCI distinctions preserved.
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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