FY2020
Original baseline; later restatement
The FY2020 report recorded a A$15.67m loss. The FY2021 report later presented a restated FY2020 comparative loss of A$15.74m; the tables retain the original FY2020 current-year number.
ASX: CLZ · Five-year financial review
Classic Minerals Ltd (ASX: CLZ) - Five-Year Financial Review FY2020-FY2024
A source-linked review of five 30 June financial years in Australian dollars. Each series uses the current-year figure in its own annual report unless explicitly noted; restated comparatives and scope differences are identified alongside the tables.
Reading the tables: 0 (nil) is a supported zero. Other text distinguishes an amount included in another line, a non-applicable item, a separately unavailable component and an unresolved value. These are not interchangeable. Period-specific detail is labelled; complete year-by-year detail remains available.
FY2024 statutory loss
A$13.35m
Current-year profit or loss statement.
FY2024 operating cash flow
A$(4.31)m
Net cash outflow from operations.
30 June 2024 net liabilities
A$14.09m
Consolidated statement of financial position.
FY2024 gold sales
A$0.99m
Gold-sales line in Note 3; first separate line in this five-year window.
Five years in context
Classic Minerals moved from exploration toward trial mining and first gold sales at Kat Gap. A 2022 bulk sample produced 1,011 contained ounces; the FY2024 annual report records gold sales revenue of A$988,294. These are different measures: contained ounces from a bulk sample are not sales or a five-year production series.
Every selected current-year statement reports a statutory loss. Operating cash flow was negative in each year and the consolidated balance sheet ended FY2024 with A$14.1 million of net liabilities. Funding relied on equity issues, loans and convertible notes; the FY2024 auditor drew attention to going-concern material uncertainty.
Comparability needs care: FY2020 has later-restated comparatives, the FY2021 balance-sheet cash and cash-flow closing cash disagree, FY2024 begins separate gold sales, and two share consolidations affect per-share measures. The tables state exactly which period and basis each row uses.
Events behind the numbers
FY2021
Kat Gap lease and processing plant
Kat Gap Mining Lease M74/249 was granted on 22 April 2021. The company reported a A$13.71m loss and A$7.94m operating cash outflow for the 30 June year.
FY2022
Bulk sample and convertible-note funding
The May 2022 Kat Gap bulk sample produced 6,504 tonnes at 4.82 g/t, containing 1,011 ounces of gold. At 30 June, A$2.13m was recorded as an advance for convertible notes; the 1:150 share consolidation became effective after year-end on 8 July.
FY2023
Higher loss and funding package
The FY2023 statutory loss reached A$23.65m, while operating cash outflow was A$13.36m. The company disclosed a A$20.5m funding package; headline facilities should be distinguished from actual cash receipts.
FY2024
First gold sales and tighter liquidity
The year included A$988,294 of gold sales revenue and a 1:50 share consolidation effective 18 March 2024. At 30 June the group reported A$55,205 cash, A$20.51m current liabilities and A$14.09m net liabilities. The FY2024 report also discloses Kat Gap sale completion on 24 March 2025 as a subsequent event, not FY2024 cash proceeds.
FINANCIAL REVIEW / 01
Income and statutory result
FY2024 adds a separately identified gold-sales line; the statutory loss narrowed from FY2023, while exploration and financing charges remained material. The expense and tax rows preserve the filing basis rather than implying a uniform adjusted earnings measure.
Statutory loss by year
A$
Net loss for the year
AI-generated presentation · values from Statutory result and major expenses; no missing values plotted as zero.
Income and revenue components
A$
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 |
|---|---|---|---|---|---|
| Research & development rebate | 1,314,506 | 1,943,418 | 2,814,245 | 729,315 | 773,778 |
| Selling of gold | Not presented | Not presented | Not presented | 0 (nil) | 988,294 |
| Interest income | 158 | 244 | 46 | 1,451 | 155 |
| Other income | 48,648 | 608,688 | 364,903 | 80,340 | 139,479 |
| Total revenue from continuing operations | 1,363,312 | 2,552,350 | 3,179,194 | 811,106 | 1,901,706 |
A$ actual dollars. FY2024 gold sales are disaggregated in Note 3; the profit or loss statement includes them within its A$1,127,928 “Other income” line. The displayed total follows Note 3, not a separately labelled sales line in the face statement.
Earlier gold-sales cells are not treated as zero where the selected statement has no separate line.
Basis and presentation notes (4)
- Selling of gold / FY2020 — Not presented: No separate gold-sales line in FY2020 selected statement.
- Selling of gold / FY2021 — Not presented: No separate gold-sales line in FY2021 selected statement.
- Selling of gold / FY2022 — Not presented: No separate gold-sales line in FY2022 selected statement.
- Selling of gold / FY2023 — 0 (nil): FY2024 Note 3 explicitly shows a dash for its FY2023 gold-sales comparative and the saved explanation says no gold sales.
Source: Classic Minerals annual reports FY2020–FY2024; detailed source identity and row provenance retained in evidence.json.
Statutory result and major expenses
A$
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 |
|---|---|---|---|---|---|
| Exploration expenses | (7,066,230) | (7,926,144) | (10,000,072) | (9,934,848) | (5,737,484) |
| Financing charges | (1,637,684) | (1,617,450) | (2,934,413) | (7,647,777) | (4,034,140) |
| Share based payment expense | Not presented | Not presented | (523,157) | 270,537 | 308,894 |
| Administration expenses | (5,525,074) | (2,370,729) | (1,078,071) | (1,534,552) | (1,019,902) |
| Impairment losses | Not presented | (1,496,709) | 0 (nil) | (1,387,382) | (669,217) |
| Mine rehabilitation expense | Not presented | Not presented | Not presented | (1,232,841) | 238,420 |
| Net loss for the year | (15,669,186) | (13,713,932) | (14,154,948) | (23,646,156) | (13,354,439) |
| Basic (and diluted) loss per sharecents per share | (0.25) | (0.09) | (7.79) | (1.16) | (4.93) |
A$ except basic/diluted loss per share, which is cents. FY2020 is the originally reported FY2020 result; the FY2021 statement presents a restated FY2020 loss of A$15,744,186. The FY2020 draft share-based value came from a cash-flow reconciliation, while its FY2021 value was actually administration expense. Separate share-based expense is shown only when the current-year statement presents it.
The 1:150 consolidation effective July 2022 and 1:50 consolidation effective March 2024 affect per-share comparison.
Basis and presentation notes (7)
- Share based payment expense / FY2020 — Not presented: FY2020 source R000330 is a cash-flow reconciliation add-back, not a separate profit-or-loss line; original statement checked.
- Share based payment expense / FY2021 — Not presented: FY2021 source R001402 is administration expense, not separately presented share-based expense in the current-year statement.
- Impairment losses / FY2020 — Not presented: FY2020 original profit-or-loss statement does not separately present an impairment-loss line; a later FY2021 comparative dash is not substituted.
- Impairment losses / FY2022 — 0 (nil): FY2022 Impairment losses: issuer source R002320 reports this matching measure as nil.
- Mine rehabilitation expense / FY2020 — Not presented: Mine rehabilitation expense not separately presented in FY2020 profit or loss.
- Mine rehabilitation expense / FY2021 — Not presented: Mine rehabilitation expense not separately presented in FY2021 profit or loss.
- Mine rehabilitation expense / FY2022 — Not presented: Mine rehabilitation expense not separately presented in FY2022 profit or loss.
Source: Classic Minerals annual reports FY2020–FY2024; detailed source identity and row provenance retained in evidence.json.
Tax and unrecognised deferred tax assets
A$
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 |
|---|---|---|---|---|---|
| Income tax at statutory rate (benefit) | (4,309,026) | (3,565,622) | (3,538,737) | (7,093,847) | (3,338,610) |
| Unrecognised DTA – tax losses | 4,801,989 | 8,233,700 | 10,655,619 | 18,026,006 | 17,522,490 |
| Unrecognised DTA – other timing differences | 295,902 | (1,091,190) | 434,393 | 3,239,034 | 4,536,614 |
| Net unrecognised DTA | 5,097,081 | 7,142,510 | 10,090,012 | 21,265,040 | 22,059,104 |
A$ actual dollars. Unrecognised deferred tax assets are not a recognised balance-sheet asset. The reported tax reconciliation uses different tax rates through the period; compare notional tax with care.
FY2023 source includes a conflicting comparative of A$10,090,012 for FY2022 in one row, whereas FY2022 current-year total and FY2024 FY2023 comparative support the selected current-year sequence. The conflicting comparative is retained as a source limitation.
Source: Classic Minerals annual reports FY2020–FY2024; detailed source identity and row provenance retained in evidence.json.
FINANCIAL REVIEW / 02
Assets, liabilities and liquidity
The balance sheet ends FY2024 with current liabilities above current assets and negative total equity. The A$1.47m assets-held-for-sale line appears in FY2024; the subsequently completed Kat Gap sale is not treated as FY2024 cash.
Net assets or liabilities
A$
Net assets / (net liabilities)
AI-generated presentation · values from Consolidated financial position; no missing values plotted as zero.
Consolidated financial position
A$
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 488,608 | 2,249,206 | 420,980 | 16,863 | 55,205 |
| Trade and other receivables | 99,945 | 77,494 | 108,205 | 93,062 | 109,381 |
| Other current assets | 167,071 | 122,664 | 119,976 | 425,375 | 620,270 |
| Assets held for sale | Not presented | Not presented | Not presented | Not presented | 1,472,103 |
| Total current assets | 755,624 | 2,449,364 | 649,161 | 535,300 | 2,256,959 |
| Exploration and evaluation | 1,826,540 | 2,910,000 | 2,739,000 | 2,739,000 | 2,589,000 |
| Right of use assets | 129,791 | 74,166 | 375,507 | 439,920 | 281,980 |
| Plant and equipment | 684,733 | 5,406,579 | 6,485,023 | 6,353,696 | 3,888,581 |
| Other non-current assets | 4,142 | Not presented | Not presented | Not presented | Not presented |
| Total non-current assets | 2,645,206 | 8,390,745 | 9,599,530 | 9,532,616 | 6,759,561 |
| Total assets | 3,400,830 | 10,840,109 | 10,248,691 | 10,067,916 | 9,016,520 |
| Trade and other payables | 3,237,299 | 4,646,458 | 5,880,972 | 6,416,887 | 9,242,034 |
| Advance for convertible notes | Not presented | Not presented | 2,126,650 | 0 (nil) | Not presented |
| Convertible notes (current) | Not presented | Not presented | Not presented | 0 (nil) | 110,000 |
| Provisions (current) | 79,588 | 121,328 | 114,802 | 129,208 | 162,686 |
| Lease liability (current) | 54,894 | 59,851 | 94,023 | 153,594 | 178,030 |
| Borrowings (current) | 1,927,075 | 5,822,370 | 6,405,018 | 8,464,534 | 10,817,194 |
| Current borrowings including lease liability (comparable) | 1,927,075 | 5,882,221 | 6,499,041 | 8,618,128 | 10,995,224 |
| Total current liabilities | 5,243,962 | 10,650,007 | 14,621,465 | 15,164,224 | 20,509,944 |
| Convertible notes (non-current) | Not presented | Not presented | Not presented | 675,000 | 1,450,000 |
| Lease liability (non-current) | 81,070 | 21,218 | 319,546 | 342,141 | 164,110 |
| Provision for mine rehabilitation | Not presented | Not presented | 0 (nil) | 1,222,920 | 983,960 |
| Total non-current liabilities | 81,070 | 21,218 | 319,546 | 2,240,061 | 2,598,070 |
| Total liabilities | 5,325,032 | 10,671,225 | 14,941,011 | 17,404,285 | 23,108,014 |
| Issued capital | 35,866,038 | 51,995,750 | 61,024,284 | 80,845,504 | 87,368,818 |
| Reserves | 3,014,676 | 3,116,982 | 3,382,192 | 2,595,579 | 1,081,843 |
| Accumulated losses | (40,804,916) | (54,943,848) | (69,098,796) | (90,777,452) | (102,542,155) |
| Net assets / (net liabilities) | (1,924,202) | 168,884 | (4,692,320) | (7,336,369) | (14,091,494) |
A$ actual dollars, balances at each 30 June. FY2020 uses its original filing; later years use each year’s current column. Restated comparative balances and A$1 differences appear in later filings and are not silently substituted.
The FY2020 original statement aggregates a current lease obligation under Borrowings. The FY2021 restated FY2020 comparative separates A$54,894 of lease liability from A$1,872,181 of borrowing; the original FY2020 current total is retained without double counting.
FY2021 statement-of-position cash of A$2,249,206 differs from cash-flow closing cash of A$2,018,953 in the same annual report; both are shown in their own statement tables and the difference remains unresolved.
FY2024 current assets include A$1,472,103 of assets held for sale, separately shown below. FY2024 trade and other payables of A$9,242,034 are the consolidated statement amount; the directors’ trade-payables narrative refers to the narrower A$8,119,594 amount.
The FY2020 non-current A$81,070 is lease liability. This interpretation is supported by the FY2020 statement and FY2021 comparative lease note.
The comparable current borrowings-plus-lease line repeats the FY2020 original Borrowings total (lease included) and sums the separately presented FY2021–FY2024 components. It is a presentation subtotal, not an extra liability.
Basis and presentation notes (22)
- Assets held for sale / FY2020 — Not presented: No separately presented assets-held-for-sale line in this year’s selected statement.
- Assets held for sale / FY2021 — Not presented: No separately presented assets-held-for-sale line in this year’s selected statement.
- Assets held for sale / FY2022 — Not presented: No separately presented assets-held-for-sale line in this year’s selected statement.
- Assets held for sale / FY2023 — Not presented: No separately presented assets-held-for-sale line in this year’s selected statement.
- Other non-current assets / FY2021 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Other non-current assets / FY2022 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Other non-current assets / FY2023 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Other non-current assets / FY2024 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Advance for convertible notes / FY2020 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Advance for convertible notes / FY2021 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Advance for convertible notes / FY2023 — 0 (nil): FY2023 Advance for convertible notes: issuer source R003180 reports this matching measure as nil.
- Advance for convertible notes / FY2024 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Convertible notes (current) / FY2020 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Convertible notes (current) / FY2021 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Convertible notes (current) / FY2022 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Convertible notes (current) / FY2023 — 0 (nil): The selected FY2024 statement prints a dash for its FY2023 comparative current convertible-notes balance; the extraction’s numeric 0 represents that issuer dash.
- Convertible notes (non-current) / FY2020 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Convertible notes (non-current) / FY2021 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Convertible notes (non-current) / FY2022 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Provision for mine rehabilitation / FY2020 — Not presented: FY2023 report comparative establishes FY2022 nil only; it does not establish FY2020.
- Provision for mine rehabilitation / FY2021 — Not presented: FY2023 report comparative establishes FY2022 nil only; it does not establish FY2021.
- Provision for mine rehabilitation / FY2022 — 0 (nil): FY2022 Provision for mine rehabilitation: issuer source R003195 reports this matching measure as nil.
Source: Classic Minerals annual reports FY2020–FY2024; detailed source identity and row provenance retained in evidence.json.
FINANCIAL REVIEW / 03
Cash flow and funding
Recurring operating outflows were funded by share-capital receipts, short-term loans and convertible-note proceeds. Fixed-asset purchases were largest in FY2021 in the selected cash-flow statements; the rows below keep these cash payments separate from balance-sheet asset carrying values.
Operating cash outflow
A$
Net cash from operating activities
AI-generated presentation · values from Cash flow statement and closing cash; no missing values plotted as zero.
Cash flow statement and closing cash
A$
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 |
|---|---|---|---|---|---|
| Net cash from operating activities | (4,071,557) | (7,935,086) | (6,555,585) | (13,355,209) | (4,314,007) |
| Net cash from investing activities | (118,517) | (4,031,200) | (1,015,460) | (950,451) | (318,634) |
| Net cash from financing activities | 4,543,559 | 13,496,631 | 5,973,072 | 13,901,543 | 4,670,401 |
| Net increase/(decrease) in cash held | 353,485 | 1,530,345 | (1,597,973) | (404,117) | 37,760 |
| Cash at bank at beginning of year | 135,123 | 488,608 | 2,018,953 | 420,980 | 16,863 |
| Exchange-rate movement on cash | Not presented | Not presented | Not presented | Not presented | 582 |
| Cash at bank at end of year | 488,608 | 2,018,953 | 420,980 | 16,863 | 55,205 |
A$ actual dollars. FY2020 is the original statement; FY2021 report restated FY2020 operating cash outflow from A$4,071,557 to A$3,896,557 and investing outflow from A$118,517 to A$293,517. The FY2021 current-year cash-flow closing balance differs from the FY2021 statement-of-position cash balance, as noted above.
FY2024 closing cash includes A$582 of exchange-rate movement in addition to the A$37,760 net cash movement.
Basis and presentation notes (4)
- Exchange-rate movement on cash / FY2020 — Not presented: No separately presented exchange-rate movement in this year’s selected cash-flow statement.
- Exchange-rate movement on cash / FY2021 — Not presented: No separately presented exchange-rate movement in this year’s selected cash-flow statement.
- Exchange-rate movement on cash / FY2022 — Not presented: No separately presented exchange-rate movement in this year’s selected cash-flow statement.
- Exchange-rate movement on cash / FY2023 — Not presented: No separately presented exchange-rate movement in this year’s selected cash-flow statement.
Source: Classic Minerals annual reports FY2020–FY2024; detailed source identity and row provenance retained in evidence.json.
Operating cash receipts and payments
A$
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 |
|---|---|---|---|---|---|
| Receipt of R&D rebate | 1,315,506 | 1,943,418 | 2,814,245 | 729,315 | 773,778 |
| ATO Cash Flow Boost | 48,660 | 93,188 | 0 (nil) | Not presented | Not presented |
| Other income | Not presented | Not presented | Not presented | Not presented | 1,091,016 |
| Payments to suppliers and employees | (5,435,880) | (9,421,491) | (8,691,141) | (12,911,025) | (5,624,122) |
| Interest paid | 0 (nil) | (550,446) | (678,734) | (1,173,868) | (554,834) |
| Interest received | 157 | 245 | 45 | 369 | 155 |
A$ actual dollars; cash basis. FY2024 “Other income” is a cash receipt line and should not be equated with the accrual profit-or-loss “Other income” line.
A dash in the original selected row is displayed as nil; an absent row is displayed as not presented.
Basis and presentation notes (8)
- ATO Cash Flow Boost / FY2022 — 0 (nil): FY2022 ATO Cash Flow Boost: issuer source R002186 reports this matching measure as nil.
- ATO Cash Flow Boost / FY2023 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- ATO Cash Flow Boost / FY2024 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Other income / FY2020 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Other income / FY2021 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Other income / FY2022 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Other income / FY2023 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Interest paid / FY2020 — 0 (nil): FY2020 Interest paid: issuer source R000248 reports this matching measure as nil.
Source: Classic Minerals annual reports FY2020–FY2024; detailed source identity and row provenance retained in evidence.json.
Investing and financing cash components
A$
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 |
|---|---|---|---|---|---|
| Purchase of fixed assets (capex) | (421,977) | (3,754,694) | (1,105,460) | (950,451) | (212,533) |
| Purchase of intangible assets | Not presented | (675,000) | 0 (nil) | Not presented | Not presented |
| Purchase of prospects | (26,540) | (200,000) | (210,000) | 0 (nil) | (407,465) |
| Proceeds from sales of tenements | 330,000 | 500,000 | 300,000 | 0 (nil) | Not presented |
| Proceeds from sale of fixed assets | Not presented | 106,000 | 0 (nil) | Not presented | 301,364 |
| Share capital received | 4,457,840 | 11,058,224 | 5,910,417 | 8,650,969 | 3,165,463 |
| Loans to other entity | Not presented | (7,506) | 0 (nil) | 0 (nil) | Not presented |
| Proceed from convertible notes | Not presented | Not presented | 2,126,650 | 7,445,850 | 0 (nil) |
| Proceeds from options entitlement | 48,775 | 80,736 | 938 | 94,397 | 1,387 |
| Capital raising costs | (411,897) | (603,498) | (733,220) | (2,039,896) | (148,333) |
| Repayment of loans and related interest | (1,824,039) | (2,106,966) | (4,937,221) | (3,724,767) | (1,621,485) |
| Proceeds of short-term loans | 2,272,880 | 5,130,254 | 3,780,789 | 3,614,937 | 3,395,101 |
| Repayment of lease liability | Not presented | (62,119) | (175,281) | (139,947) | (121,732) |
A$ actual dollars. Purchases of fixed assets are cash payments, not period-end plant-and-equipment balances. FY2020 original statement did not separately show an intangible-assets purchase; the FY2021 restated FY2020 comparative does show A$175,000 of that cash outflow.
The FY2023 A$7,445,850 convertible-note cash receipt is a statement line; it should not be conflated with the A$4m 2022 Still Capital mandate headline. The FY2024 dash for convertible-note cash proceeds is presented as issuer-reported nil.
Basis and presentation notes (18)
- Purchase of intangible assets / FY2020 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Purchase of intangible assets / FY2022 — 0 (nil): FY2022 Purchase of intangible assets: issuer source R002196 reports this matching measure as nil.
- Purchase of intangible assets / FY2023 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Purchase of intangible assets / FY2024 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Purchase of prospects / FY2023 — 0 (nil): FY2023 Purchase of prospects: issuer source R003016 reports this matching measure as nil.
- Proceeds from sales of tenements / FY2023 — 0 (nil): FY2023 Proceeds from sales of tenements: issuer source R003012 reports this matching measure as nil.
- Proceeds from sales of tenements / FY2024 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Proceeds from sale of fixed assets / FY2020 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Proceeds from sale of fixed assets / FY2022 — 0 (nil): FY2022 Proceeds from sale of fixed assets: issuer source R002200 reports this matching measure as nil.
- Proceeds from sale of fixed assets / FY2023 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Loans to other entity / FY2020 — Not presented: No separate current-year line in FY2020 original cash-flow statement.
- Loans to other entity / FY2022 — 0 (nil): Issuer dash for FY2022 current-year cash-flow line.
- Loans to other entity / FY2023 — 0 (nil): Issuer dash for FY2023 current-year cash-flow line.
- Loans to other entity / FY2024 — Not presented: No separate FY2024 investing cash-flow line.
- Proceed from convertible notes / FY2020 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Proceed from convertible notes / FY2021 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Proceed from convertible notes / FY2024 — 0 (nil): The FY2024 cash-flow statement prints a dash for proceeds from convertible notes; the extraction’s numeric 0 represents that issuer dash.
- Repayment of lease liability / FY2020 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
Source: Classic Minerals annual reports FY2020–FY2024; detailed source identity and row provenance retained in evidence.json.
FINANCIAL REVIEW / 04
Equity and shareholder distributions
Issued capital rose through owner transactions while accumulated losses deepened. The FY2024 current-year statement records shares issued, option exercise, convertible-note conversion and a reserve reclassification. A broad FY2021 statement says no dividends had been paid or declared since incorporation; later periods are not assigned unsupported zeroes.
Closing equity components
A$
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 |
|---|---|---|---|---|---|
| Issued Capital | 35,866,038 | 51,995,750 | 61,024,284 | 80,845,504 | 87,368,818 |
| Reserves | 3,014,676 | 3,116,982 | 3,382,192 | 2,595,579 | 1,081,843 |
| Accumulated Losses | (40,804,916) | (54,943,848) | (69,098,796) | (90,777,452) | (102,542,155) |
| Total Equity | (1,924,202) | 168,884 | (4,692,320) | (7,336,369) | (14,091,494) |
A$ actual dollars. FY2022 closing values are directly presented as the FY2023 statement-of-changes-in-equity opening balance, and FY2024 values come from the FY2024 current-year closing row. These are closing snapshots, not cash raised.
The FY2023 accumulated-loss movement includes a reclassification from reserves, so it need not equal the year’s statutory loss alone.
Source: Classic Minerals annual reports FY2020–FY2024; detailed source identity and row provenance retained in evidence.json.
Selected transactions recorded directly in equity
A$
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 |
|---|---|---|---|---|---|
| Shares issued (net of expenses) | 11,103,080 | 16,049,026 | 8,977,478 | 10,879,323 | 5,306,927 |
| Exercise of options | 280,000 | 80,686 | 1,056 | 94,397 | 1,387 |
| Conversion of convertible notes | Not presented | Not presented | Not presented | 8,897,500 | 1,215,000 |
| Share-based payments | 882,253 | 79,092 | 265,210 | 1,054,137 | Not presented |
| Shares to be issued | Not presented | Not presented | 50,000 | 76,750 | 76,000 |
| Reclassification — issued capital | Not presented | Not presented | Not presented | (50,000) | 0 (nil) |
| Reclassification — reserves | Not presented | Not presented | Not presented | (1,917,500) | (1,589,736) |
| Reclassification — accumulated losses | Not presented | Not presented | Not presented | 1,967,500 | 1,589,736 |
| Reclassification — effect on total equity | Not presented | Not presented | Not presented | 0 (nil) | 0 (nil) |
A$ actual dollars from the statement of changes in equity. Blank source presentation is not zero. Shares issued net of expenses is an accrual equity movement, distinct from cash share-capital receipts.
Reclassification component rows below separate issued capital, reserves and accumulated losses. Offsetting movements in FY2023 and FY2024 have issuer-reported nil total-equity effect; component transfers are not shareholder returns or net equity reductions.
Basis and presentation notes (21)
- Conversion of convertible notes / FY2020 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Conversion of convertible notes / FY2021 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Conversion of convertible notes / FY2022 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Share-based payments / FY2024 — Not presented: No separate current-year share-based-payments owner transaction in FY2024 statement; profit-or-loss presentation differs.
- Shares to be issued / FY2020 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Shares to be issued / FY2021 — Not presented: No separately presented line in the selected annual extraction; no zero inferred.
- Reclassification — issued capital / FY2020 — Not presented: Not separately included in the selected owner-transaction rows for this fiscal year.
- Reclassification — issued capital / FY2021 — Not presented: Not separately included in the selected owner-transaction rows for this fiscal year.
- Reclassification — issued capital / FY2022 — Not presented: Not separately included in the selected owner-transaction rows for this fiscal year.
- Reclassification — issued capital / FY2024 — 0 (nil): Issuer dash for the FY2024 issued-capital component.
- Reclassification — reserves / FY2020 — Not presented: Not separately included in the selected owner-transaction rows for this fiscal year.
- Reclassification — reserves / FY2021 — Not presented: Not separately included in the selected owner-transaction rows for this fiscal year.
- Reclassification — reserves / FY2022 — Not presented: Not separately included in the selected owner-transaction rows for this fiscal year.
- Reclassification — accumulated losses / FY2020 — Not presented: Not separately included in the selected owner-transaction rows for this fiscal year.
- Reclassification — accumulated losses / FY2021 — Not presented: Not separately included in the selected owner-transaction rows for this fiscal year.
- Reclassification — accumulated losses / FY2022 — Not presented: Not separately included in the selected owner-transaction rows for this fiscal year.
- Reclassification — effect on total equity / FY2020 — Not presented: Not separately included in the selected owner-transaction rows for this fiscal year.
- Reclassification — effect on total equity / FY2021 — Not presented: Not separately included in the selected owner-transaction rows for this fiscal year.
- Reclassification — effect on total equity / FY2022 — Not presented: Not separately included in the selected owner-transaction rows for this fiscal year.
- Reclassification — effect on total equity / FY2023 — 0 (nil): The FY2023 total-equity column prints a dash; component transfers offset.
- Reclassification — effect on total equity / FY2024 — 0 (nil): The FY2024 total-equity column prints a dash; component transfers offset.
Source: Classic Minerals annual reports FY2020–FY2024; detailed source identity and row provenance retained in evidence.json.
Dividends and shareholder distributions
A$ or disclosure state
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 |
|---|---|---|---|---|---|
| Dividends paid or declareddisclosure state | 0 (nil) | 0 (nil) | Not presented | Not presented | Not presented |
The FY2021 issuer statement covers the period since incorporation. Later-year extraction does not support a fresh year-specific zero and is shown as not presented. Cash equity issuance is a financing inflow, not a shareholder return.
Basis and presentation notes (5)
- Dividends paid or declared / FY2020 — 0 (nil): FY2021 directors’ statement says none since incorporation; no cash dividend shown in selected annual cash flow.
- Dividends paid or declared / FY2021 — 0 (nil): FY2021 directors’ statement says none since incorporation; no cash dividend shown in selected annual cash flow.
- Dividends paid or declared / FY2022 — Not presented: No separately extracted dividend declaration or payment line for this fiscal year; no zero inferred.
- Dividends paid or declared / FY2023 — Not presented: No separately extracted dividend declaration or payment line for this fiscal year; no zero inferred.
- Dividends paid or declared / FY2024 — Not presented: No separately extracted dividend declaration or payment line for this fiscal year; no zero inferred.
Source: FY2021 directors’ report and selected annual extraction.
FINANCIAL REVIEW / 05
Projects and disclosed gold resources
The Mineral Resource sequence is a set of disclosed snapshots, not annual production. The FY2024 report repeats the 14 June 2023 estimate. Kat Gap’s contained resource ounces and the 2022 bulk-sample contained ounces have different measurement bases.
Disclosed contained gold resource
oz Au
Total contained gold
AI-generated presentation · values from Disclosed global gold Mineral Resource; no missing values plotted as zero.
Disclosed global gold Mineral Resource
oz Au
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 |
|---|---|---|---|---|---|
| Indicated contained gold | 16,600 | 16,600 | 16,600 | 37,088 | 37,088 |
| Inferred contained gold | 387,306 | 387,306 | 387,306 | 354,589 | 354,589 |
| Total contained gold | 403,906 | 403,906 | 403,906 | 391,417 | 391,417 |
Contained ounces, disclosure snapshots; these are Mineral Resources, not annual production or sales. FY2024 repeats an estimate with 14 June 2023 effective date, so FY2023–FY2024 must not be read as separate new estimates.
The FY2023 and FY2024 source tables print 37,088 indicated oz and 354,589 inferred oz but 391,417 total oz: the components sum to 391,677 oz, a 260 oz difference. The prospect table similarly prints 20,488 + 60,139 = 80,627 oz for Kat Gap but 80,367 oz as its total. The chart uses the printed total and the discrepancy remains unresolved.
Earlier source rows do not establish an effective date in the selected extraction.
Source: Classic Minerals annual reports FY2020–FY2024; detailed source identity and row provenance retained in evidence.json.
Mineral Resource by prospect
oz Au
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 |
|---|---|---|---|---|---|
| Lady Ada (total oz) | 59,700 | 59,700 | 59,700 | 59,700 | 59,700 |
| Lady Magdalene (total oz) | 251,350 | 251,350 | 251,350 | 251,350 | 251,350 |
| Kat Gap (total oz) | 92,856 | 92,856 | 92,856 | 80,367 | 80,367 |
Contained ounces as disclosed in successive annual reports. FY2024 figures repeat the 14 June 2023 effective estimate, not an FY2024 year-end remeasurement.
Source: Classic Minerals annual reports FY2020–FY2024; detailed source identity and row provenance retained in evidence.json.
Capitalised exploration and evaluation by project
A$
| Metric | 30 June 2020 | 30 June 2021 |
|---|---|---|
| Forrestania project (80% gold rights, registered via Reed Exploration / Hannans Ltd structure) | 1,250,000 | 1,250,000 |
| Fraser Range Project (IGO earn-in – nickel focus) | 250,000 | 250,000 |
| Kat Gap tenements (100% gold and non-gold rights) | 326,540 | 1,410,000 |
| Total capitalised E&E (current, as reported) | 1,826,540 | 2,910,000 |
A$ balance snapshots. These are capitalised project assets and should not be confused with cash exploration spending. Later overall E&E totals are shown in the financial-position table.
Source: Classic Minerals annual reports FY2020–FY2024; detailed source identity and row provenance retained in evidence.json.
Reading the figures
- The selected annual package and six targeted DB annual tables were used; raw body and PDFs were outside the approved source boundary. Reported gaps are extraction or reconciliation limits, not claims of issuer non-disclosure.
- FY2021 balance-sheet cash of A$2,249,206 and cash-flow closing cash of A$2,018,953 disagree within the selected annual report; no balancing adjustment is invented.
- FY2020 original loss and cash flow differ from FY2021 later-restated FY2020 comparatives; original current-year figures are shown with notes.
- The FY2023/FY2024 Mineral Resource table has a printed 260 oz component-to-total discrepancy, including Kat Gap; the printed total is preserved for the chart.
- Some issuer-dated project events in annual reports occur after the 30 June balance date and are labelled as subsequent events where relevant.
Annual-report source registry
- Classic Minerals Ltd Annual Report to shareholdersYear ended 2020-06-30; report dated 2020-09-17. Internal extraction and selected table provenance in evidence.json.
- Classic Minerals Ltd Annual Report to shareholdersYear ended 2021-06-30; report dated 2021-10-29. Internal extraction and selected table provenance in evidence.json.
- Classic Minerals Ltd Annual Report to shareholdersYear ended 2022-06-30; report dated 2022-09-30. Internal extraction and selected table provenance in evidence.json.
- Classic Minerals Ltd Annual Report to shareholdersYear ended 2023-06-30; report dated 2023-09-29. Internal extraction and selected table provenance in evidence.json.
- Classic Minerals Ltd Annual Report 30 June 2024Year ended 2024-06-30; report dated 2025-06-06. Internal extraction and selected table provenance in evidence.json.
Prepared from the existing annual extraction datasets, supplemented only by selected same-company annual-report tables and saved row interpretations. No new raw-document extraction or web financial research was used for this test.
Sources, copyright and independence
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AI-led method
This report uses AI actively and extensively for evidence extraction, comparison, organisation, calculation checks, drafting, translation planning and presentation. Material claims received reasonable editorial review against cited public sources; this was not an audit, assurance engagement or independent verification. Limitations in public sources, AI systems and review may leave errors, omissions, inconsistencies or translation, classification and interpretation errors.
Any AI-generated visual accompanying this report must carry an adjacent, visible AI-generated label or caption. Such visuals are illustrative rather than source evidence and do not replace the cited annual-report text, table or section source.
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