AYM’s profits and losses were strongly affected by exploration-asset valuations and disposals. Operating cash remained negative, cash reserves were small by FY2025, and related-party support remained important despite the latest accounting profit.
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.
Includes a non-cash impairment reversal.
FY2025 accounting income, not cash.
A$39,120 held at year-end.
Separate from non-current related payables.
AYM held exploration and mining interests in NSW and Queensland, using joint arrangements at Sofala and Forsayth. Reported project activity is not automatically the same as AYM’s consolidated revenue or cash receipts.
Independent mineral-asset valuations informed impairment reviews. The resulting reversals can improve profit while operating cash is still consumed, making cash and the nature of funding more informative than a profit headline alone.
Sofala’s partner could earn an initial 51% and then a further interest through spending commitments. Forsayth work focused on near-surface targets and sampling, not a declared company-wide production run rate.
Disposal of financial assets provided cash while Forsayth’s operator re-established camp and earthmoving equipment for Ropewalk mining. The cash inflow was not mine operating revenue.
The June announcement reported 1,630 tonnes processed and 199.91 oz produced by the Forsayth arrangement. Exploration valuations increased, while the group still recorded a loss.
A disposal charge on 51% of EL7423 offset the benefit of another impairment reversal. The group’s annual loss therefore cannot be read solely as exploration cash expenditure.
Adverse weather limited mining and exploration. A new valuation review supported a further impairment reversal, while shareholder-related borrowing supplied cash.
FY2025 borrowing broadly covered the operating and investing cash outflows, leaving only a modest increase in cash. The return to profit was therefore not evidence of self-funded operations.
A$ million
AI-generated presentation · values from Five-year profit and cash record; no missing values plotted as zero.
A$ million
AI-generated presentation · values from Five-year profit and cash record; no missing values plotted as zero.
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Profit / (loss) after tax | 0.595 | 0.610 | (0.247) | (1.714) | 0.989 |
| Operating cash flow | (0.325) | (0.365) | (0.409) | (0.338) | (0.346) |
| Investing cash flow | 0.219 | 1.070 | (0.008) | (0.044) | (0.009) |
| Financing cash flow | 0.205 | 0.060 | (0.120) | 0.060 | 0.360 |
| Closing cash | 0.129 | 0.894 | 0.357 | 0.034 | 0.039 |
Australian dollars converted to millions. FY2023 cash classifications use the later FY2024 comparative.
The original FY2023 presentation assigned amounts differently between operating, investing and financing; aggregate cash decline and closing cash are unchanged.
FY2022 investing inflow principally reflects a financial-asset disposal, not positive mine operating cash.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FY2025’s reversal exceeded its reported net profit. FY2024 combined a large reversal with a larger disposal charge and a financial-asset remeasurement loss. The effects have different causes and are not a cash-flow bridge by themselves.
The small refined gold-silver bar described in the FY2025 operations narrative carries a stated metal value. That value is not asserted here to be group sales revenue; the income statement separately identifies royalty and interest income.
A$ million
AI-generated presentation · values from Impairment reversals versus the reported result; no missing values plotted as zero.
A$ million
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profit / (loss) after tax | (0.247) | (1.714) | 0.989 |
| Exploration impairment reversal: income | 0.800 | 1.500 | 1.586 |
These reversals increase carrying values and profit without receiving cash. They are not sales revenue.
FY2024 also contains a A$2.448m exploration-interest disposal charge, separately explained below. No synthetic underlying profit is calculated.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
The valuation-supported exploration balance rose while current obligations remained substantial. Recoverability still depends on development, exploitation or sale. A capitalised mineral asset cannot be used as if it were cash available to meet the next loan payment.
A$ million
AI-generated presentation · values from Carrying values and near-term obligations; no missing values plotted as zero.
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Total assets | 5.017 | 5.911 | 5.673 | 4.218 | 5.803 |
| Consolidated equity | 3.632 | 4.242 | 3.995 | 2.282 | 3.270 |
| Exploration and evaluation assets | 3.600 | 3.800 | 4.600 | 3.652 | 5.238 |
| Current liabilities | 0.067 | 0.260 | 1.418 | 1.617 | 2.153 |
FY2023 balance-sheet values use the later comparative; A$4,165 changed in both current assets and liabilities, leaving equity unchanged.
The FY2025 statement net-assets value differs by A$1 from the rounded narrative; statement value used.
Current-liability changes also reflect maturity classification, not only new borrowing. Exploration assets are not liquid funds.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
The FY2025 going-concern disclosure depends on liquidating financial assets, support from major shareholders and directors, and additional funding. The auditor highlighted the material uncertainty without modifying the opinion. Listed shares are a potential funding source, not part of the reported cash balance.
Interest on the shareholder loan accrued without being a separate cash repayment. The debt and payable balances should not be netted against exploration values to imply a liquid buffer.
A$ million
AI-generated presentation · values from Related-party funding and accrued interest; no missing values plotted as zero.
A$ million
| Metric | FY2024 | FY2025 |
|---|---|---|
| Current related-party loans | 1.570 | 2.106 |
| Non-current related-party payables | 0.319 | 0.379 |
| Borrowing cash received | 0.060 | 0.360 |
| Interest accrued on shareholder loan | 0.068 | 0.097 |
Loan interest accrual is not an additional cash receipt or repayment. Related-party payables are not automatically all interest-bearing borrowings.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
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