FY2021
Exploration and financing
Capitalised exploration grew while equity financing supported operating and investing outflows.
ASX: CAY · Five-year financial review
(ASX: CAY) Canyon Resources Financial Review - FY2021~25
Canyon’s FY2021-FY2025 record tracks the funding and development of Minim Martap before planned bauxite production. The mining-permit milestone changed exploration accounting, while major funding announced after June belongs outside the year-end cash balance.
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$11.478m
Before post-year-end drawdown.
Net assets
A$45.060m
Group, not parent-only.
Exploration carrying value
A$32.580m
Not DFS NPV.
Facility first draw
August 2025
Subsequent event.
Five years in context
The September 2024 mining permit allowed Minim Martap exploration costs to be capitalised again after the permit-renewal phase. The same project therefore affects expense and asset lines differently across the review.
Production and shipment dates in the stored FY2025 narrative are plans. The later DFS value and credit-facility headline are neither actual sales nor cash already drawn at 30 June.
Events behind the numbers
FY2022
Permit renewal changes expense treatment
Minim Martap expenditure was expensed during the permit-renewal phase; operating outflow rose while investing outflow fell.
FY2023
Funding lifts cash
Net financing exceeded the reported operating and investing outflows, increasing cash without mine-sales income being assumed.
FY2024
Larger funding round
Net financing increased again and cash rose ahead of the later mining-permit grant.
FY2025
Mining permit and financing arrangements
The September 2024 permit changed capitalisation. A project facility was arranged, but its first drawdown occurred in August 2025, after this fiscal year.
FINANCIAL REVIEW / 01
June cash is smaller than the later funding headline
Cash declined in FY2025 even though net assets increased slightly. July option proceeds, the August facility draw and September strategic funding are subsequent events, so none is backdated into the closing cash card.
Year-end cash
A$ million
Cash and equivalents
AI-generated presentation · values from Cash and net assets; no missing values plotted as zero.
Group net assets
A$ million
Net assets / total equity
AI-generated presentation · values from Cash and net assets; no missing values plotted as zero.
Cash and net assets
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and equivalents | 2.684 | 4.478 | 10.726 | 22.166 | 11.478 |
| Net assets / total equity | 19.142 | 20.403 | 28.839 | 43.869 | 45.060 |
Net assets are group totals. The FY2025 parent-only equity figure is not substituted. Subsequent facility drawdowns and placements are excluded from June cash.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 02
Follow accounting policy as well as spending
The expense-versus-capitalisation boundary changed when the permit was granted. Larger operating cash outflows do not, on their own, measure the full cost of advancing the project; investing categories and financing costs must be read alongside them.
Loss and operating cash
A$ million
Statutory loss after taxNet operating cash flow
AI-generated presentation · values from Loss and operating cash; no missing values plotted as zero.
Earlier investment and financing
A$ million
Net investing cash flowNet financing cash flow
AI-generated presentation · values from Earlier investing and financing record; no missing values plotted as zero.
Loss and operating cash
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Statutory loss after tax | (4.751) | (12.775) | (4.987) | (9.539) | (20.184) |
| Net operating cash flow | (3.279) | (7.975) | (4.552) | (9.574) | (17.695) |
The treatment of Minim Martap exploration changed after the mining permit was granted in September 2024. Do not read the operating-cash series as an unchanged project-spending definition.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Earlier investing and financing record
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 |
|---|---|---|---|---|
| Net investing cash flow | (5.023) | (0.127) | (1.380) | (3.504) |
| Net financing cash flow | 9.332 | 10.134 | 12.181 | 24.429 |
FY2025 extracted cash-flow records retain selected line items rather than comparable category totals. They are shown separately below, not reconstructed from incomplete components.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Selected FY2025 cash items
A$ million
| Metric | FY2025 |
|---|---|
| Proceeds from share issues | 18.602 |
| Interest and other finance costs paid | (6.658) |
| Interest received | 0.731 |
Individual reported cash lines, not a full financing or operating subtotal. Facility fees and financing arrangements make the interest/finance-cost line broader than coupon interest alone.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 03
Capitalised exploration is not a valuation
Recoverability and the transition from exploration to development were important audit judgements. The asset balance is not replaced by the post-year-end DFS NPV or multiplied by announced reserves.
Capitalised exploration
A$ million
Capitalised exploration expenditure
AI-generated presentation · values from Capitalised exploration carrying amount; no missing values plotted as zero.
Capitalised exploration carrying amount
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Capitalised exploration expenditure | 16.760 | 16.424 | 18.074 | 20.350 | 32.580 |
A stock of qualifying expenditure, not annual spending, Mineral Resources or discounted project value.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Reading the figures
- Production and shipment plans in the FY2025 extraction are not verified as achieved by this historical review.
- FY2025 investing/financing category totals are incomplete in the selected packet; available line items are retained separately.
- The project ownership narrative includes a future State free-carried interest on permit-related implementation; no universal current equity percentage is used for a resource valuation.
- 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
- Canyon Resources - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Canyon Resources - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Canyon Resources - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Canyon Resources - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Canyon 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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AI-led method
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