FY2021
Pre-listing capital base
The pre-listing balance sheet expanded with project investment and funding; these are company records, not public-market trading data.
ASX: BMR · Five-year financial review
(ASX: BMR) Ballymore Resources Financial Review - FY2021~25
Ballymore’s five-year financial story is the funding of exploration and possible mine redevelopment, not established gold production. The Dittmer royalty financing lifted cash in FY2024; spending then reduced liquidity while finance expense widened the accounting loss.
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$2.302m
Includes committed Dittmer cash.
Net loss
A$2.325m
Statutory, not total cash expenditure.
Exploration payments
A$4.811m
Investing cash outflow.
Going concern
Material uncertainty
As disclosed by directors.
Five years in context
The September 2021 ASX admission followed an A$7m gross IPO. Later funding combined new shares with a Taurus royalty agreement, so comparing financing cash with equity alone understates the obligation created.
By June 2025 part of the remaining cash was committed to Dittmer. Directors disclosed a material going-concern uncertainty even while retaining the going-concern basis after a subsequent placement.
Events behind the numbers
FY2022
ASX listing
The August 2021 IPO raised A$7m gross and listing followed in September.
FY2023
Dittmer drilling and studies
Stage 3 underground drilling was completed and mine-development studies advanced; a restart was not treated as achieved production.
FY2024
Royalty financing
Taurus provided US$5m, recorded as A$7.576m in the funding receipt, against Dittmer gold-sale royalties.
FY2025
Liquidity and subsequent placement
Directors identified material going-concern uncertainty. A later A$4.518m placement is a subsequent event, not June cash.
FINANCIAL REVIEW / 01
The asset base grew faster than free liquidity
Assets and equity increased from the pre-listing base, but cash did not rise steadily. The latest total cash balance includes project commitments and should not be presented as wholly unallocated liquidity.
Cash at year end
A$ million
Cash and equivalents
AI-generated presentation · values from Financial position across five years; no missing values plotted as zero.
Assets and equity
A$ million
Total assetsTotal equity
AI-generated presentation · values from Financial position across five years; no missing values plotted as zero.
Financial position across five years
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and equivalents | 0.224 | 2.539 | 1.475 | 7.939 | 2.302 |
| Total assets | 3.985 | 10.370 | 13.185 | 23.613 | 22.977 |
| Total equity | 3.713 | 9.999 | 12.717 | 15.018 | 12.693 |
FY2021 predates the September 2021 listing but is a company financial period, not an ASX trading-price history. Assets are accounting carrying values.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Cash availability and obligations
A$ million
| Metric | FY2024 | FY2025 |
|---|---|---|
| Total cash | 7.939 | 2.302 |
| Cash committed to Dittmer | 5.629 | 1.659 |
| Total liabilities | 8.595 | 10.284 |
| Current liabilities | 0.776 | 0.951 |
Committed cash is included in, not additional to, total cash. Total liabilities include the royalty funding obligation; this table does not equate all liabilities with bank debt.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 02
Funding cycles explain the cash path
The main project cash spend sits in investing activities. FY2024 royalty funding helped finance development, while FY2025 reported no new net financing inflow. Announced subsequent funding is kept out of the historical statement.
Loss versus operating cash
A$ million
Statutory net lossOperating cash flow
AI-generated presentation · values from Loss and cash movements; no missing values plotted as zero.
Investing and financing cash
A$ million
Investing cash flowFinancing cash flow
AI-generated presentation · values from Loss and cash movements; no missing values plotted as zero.
Loss and cash movements
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Statutory net loss | (0.569) | (0.734) | (0.878) | (1.898) | (2.325) |
| Operating cash flow | (0.286) | (0.668) | (0.659) | (1.024) | (0.723) |
| Investing cash flow | (3.384) | (3.597) | (3.873) | (3.551) | (4.914) |
| Financing cash flow | 3.483 | 6.580 | 3.467 | 11.040 | 0.000 |
FY2025 financing is reported nil, not an unresolved blank. FY2024 financing includes royalty funding and is not all equity capital. Exploration spending is investing cash, outside operating cash burn.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 03
Royalty cash brings an accounting obligation
The royalty financial liability is measured at amortised cost using a 17% effective interest rate. FY2025 interest expense of A$1.487m therefore belongs in the earnings explanation; it is not a second A$1.487m receipt of funding or current gold sales.
Exploration and plant cash payments
A$ million
Exploration cash paymentsPlant and equipment cash payments
AI-generated presentation · values from Recent funding and investment components; no missing values plotted as zero.
Recent funding and investment components
A$ million
| Metric | FY2024 | FY2025 |
|---|---|---|
| Gross share proceeds | 3.616 | 0.000 |
| Royalty funding receipts | 7.576 | 0.000 |
| Exploration cash payments | (3.449) | (4.811) |
| Plant and equipment cash payments | (0.103) | (0.103) |
Royalty funding is a financing receipt with a continuing obligation, not gold sales revenue. Post-year-end placement proceeds are not included.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Reading the figures
- Royalty percentages differ within the agreement; no single flat rate is imposed on an invented future sales profile.
- The material going-concern uncertainty remains relevant despite subsequent fundraising. No certainty of mine restart or future funding is inferred.
- Prepared from existing year-by-year extraction records only. No raw-source retrieval, database query, financial web research or MiniMax call. Primary-author review, not an independent original-document audit; published.
Annual-report source registry
- Ballymore Resources - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Ballymore Resources - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Ballymore Resources - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Ballymore Resources - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Ballymore Resources - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
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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