FY2021
Formation before listing
The first financial period is shorter than a full year. July 2021 acquisition completion and listing are subsequent events.
ASX: BUR · Five-year financial review
(ASX: BUR) Burley Minerals Financial Review - FY2021~25
Burley’s FY2021-FY2025 record moves from formation and acquisitions to substantial project impairments. The sharp fall in accounting assets is much larger than the cash decline, while the latest report retains a material 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$1.204m
Group cash and equivalents.
Impairment charge
A$14.010m
Non-cash exploration write-down.
Remaining E&E assets
A$1.597m
Accounting carrying amount.
Funding uncertainty
Disclosed
Further capital raising needed.
Five years in context
The first period began at incorporation in October 2020; Novarange completion and ASX quotation followed in July 2021. Chubb was acquired in February 2023, so the five-year record spans different corporate boundaries.
FY2025 impairments reduced the Canadian lithium and Yerecoin carrying values to nil. Stored commentary links this to limited planned work, lithium-market conditions and unresolved Yerecoin exploration access, rather than an absence of mineralisation.
Events behind the numbers
FY2022
Cash starts to be deployed
Operating cash was negative after formation; the group statement records a lower year-end cash balance than the initial period.
FY2023
Chubb acquisition broadens exposure
The February acquisition brought the Quebec lithium project into the group and used cash plus shares.
FY2024
First major impairment charge
An exploration write-off widened the gap between accounting loss and operating cash outflow.
FY2025
Further write-downs and funding uncertainty
Canadian lithium and Yerecoin assets were impaired, while the directors disclosed material uncertainty dependent on raising capital.
FINANCIAL REVIEW / 01
A project write-down is not the same as cash spent
Total assets and equity fell steeply following the impairment. Cash declined by a much smaller amount. Neither the remaining carrying value nor the impairment is a market valuation of the company’s mineral resources.
Cash through formation and expansion
A$ million
Cash and equivalents
AI-generated presentation · values from Cash and accounting capital; no missing values plotted as zero.
Assets and equity
A$ million
Total assetsTotal equity
AI-generated presentation · values from Cash and accounting capital; no missing values plotted as zero.
Cash and accounting capital
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and equivalents | 6.210 | 4.063 | 5.507 | 2.399 | 1.204 |
| Total assets | 10.651 | 9.887 | 20.034 | 17.256 | 2.997 |
| Total equity | 9.921 | 9.325 | 19.764 | 16.622 | 2.654 |
FY2021 is the individual entity’s initial period from 29 October 2020, not a full twelve months or a consolidated operating year. Later years include acquired subsidiaries.
Consolidated statement totals are selected rather than separate parent-entity note values.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 02
Operating outflow remains distinct from statutory loss
The FY2025 loss is dominated by non-cash exploration impairment. Financing provided cash, but the annual report still identifies material uncertainty over continuation without further capital.
Loss and operating cash flow
A$ million
Loss after taxNet operating cash flow
AI-generated presentation · values from Loss versus operating cash; no missing values plotted as zero.
Loss versus operating cash
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Loss after tax | (0.730) | (0.694) | (1.326) | (5.834) | (15.689) |
| Net operating cash flow | (0.296) | (0.766) | (1.157) | (1.105) | (0.927) |
Loss and cash differ materially because of non-cash project impairments. These figures are not mine production margins.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FY2025 cash movements
A$ million
| Metric | FY2025 |
|---|---|
| Operating cash flow | (0.927) |
| Investing cash flow | (1.231) |
| Financing cash flow | 0.962 |
Net cash movements, not an announced gross capital raise.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 03
Impairment reflects recoverability and access assumptions
Minimal planned lithium activity and unresolved Yerecoin access underpin the latest impairment decision. The tenement interests remain separately described in the extraction; a financial write-off is not a statement that the projects or licences disappear.
Impairment charge
A$ million
Exploration impairment / write-off charge
AI-generated presentation · values from Impairment and the remaining exploration carrying amount; no missing values plotted as zero.
Exploration asset carrying amount
A$ million
Closing exploration and evaluation assets
AI-generated presentation · values from Impairment and the remaining exploration carrying amount; no missing values plotted as zero.
Impairment and the remaining exploration carrying amount
A$ million
| Metric | FY2024 | FY2025 |
|---|---|---|
| Exploration impairment / write-off charge | 4.592 | 14.010 |
| Closing exploration and evaluation assets | 14.130 | 1.597 |
Impairment charge shown as a positive expense magnitude. The asset balance is a separate closing stock and is not additive to the charge.
A nil carrying amount for a particular project does not mean its geological resource is zero.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Reading the figures
- FY2021 covers 29 October 2020 to 30 June 2021 and an individual entity; later group years are not identical in scope.
- Yerecoin access proceedings remain unresolved in the stored FY2025 record. No court outcome or restart is assumed.
- Material going-concern uncertainty is retained and is not resolved by a positive closing cash balance.
- 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
- Burley Minerals - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Burley Minerals - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Burley Minerals - Full Year Statutory AccountsExisting annual extraction, including separately identified historical comparatives.
- Burley Minerals - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Burley Minerals - 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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