FY2021
PNG field work deferred
COVID-19 travel restrictions deferred planned PNG exploration, including Mt Nakru drilling; the year ended 30 June 2021 with AUD 15.80m of exploration assets.
ASX: COY · Five-year financial review
Coppermoly Limited (ASX: COY) - Five-Year Financial Review FY2021-FY2025
An exploration-stage Group report in Australian dollars. The tables compare five June year ends, with the FY2023 disposal separating the former PNG portfolio from the later Australian asset base.
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.
FY2025 loss
AUD 1.92m
Statutory loss for year ended 30 June 2025.
FY2025 closing cash
AUD 1.56m
Cash and cash equivalents at 30 June 2025.
FY2025 exploration assets
AUD 2.63m
Capitalised exploration and evaluation assets at 30 June 2025.
Five years in context
Coppermoly was an exploration business through the five years and reported no operating sales revenue line in its statutory income statements. Other income comprised the top line, while exploration asset additions and the need for external funding shaped cash flows.
The structural break came in FY2023 when the company sold Copper Quest PNG Limited. The consideration combined AUD 500,000 cash with a buy-back and cancellation of 1,955,024,388 shares. The PNG exploration asset balance left the Group; subsequent asset additions are principally Australian. The auditor's going-concern uncertainty continued in later reports.
Events behind the numbers
FY2022
Queensland licences added
Fox Creek and Mount Tracey permits were granted during FY2022. The auditor included a material uncertainty related to going concern in the 28 September 2022 report.
FY2023
PNG subsidiary sold
After 24 April 2023 shareholder approval, the PNG subsidiary sale combined AUD 500,000 cash with cancellation of 1,955,024,388 ordinary shares; the convertible notes were converted into equity.
FY2024
Mt Isa drilling and options
A 728-metre, three-hole reverse-circulation program was completed at Shuffleton. The FY2024 share option reserve rose by AUD 121,320, and the auditor again identified going-concern uncertainty.
FY2025
Australian exploration continued
A 142.89-line-km ground magnetic survey was conducted at Copper Valley. A binding agreement to acquire Wyemandoo for AUD 100,000 cash was signed after the 30 June 2025 balance date and is a subsequent event.
FINANCIAL REVIEW / 01
Loss and comprehensive result
The Group remained loss-making. The FY2024 and FY2025 expense layout requires a corrected presentation mapping from adjacent extracted tokens and the share option reserve movement; the year-end loss totals themselves are separately supported.
Statutory annual loss
AUD, as reported
Loss for the year
AI-generated presentation · values from Statutory income and expenses; no missing values plotted as zero.
Statutory income and expenses
AUD, as reported
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Other income (no sales revenue line) | 38,852 | 593 | 14,152 | 32,674 | 21,539 |
| Corporate compliance and shareholder relations | (130,878) | (157,261) | (209,255) | (212,047) | (255,845) |
| Employee benefits expense | (536,481) | (568,897) | (411,845) | (548,671) | (670,188) |
| Depreciation | (47,180) | (47,583) | (8,472) | (2,570) | (560) |
| Business development costs | (102,052) | (6,569) | Nil | Not separately presented | Not separately presented |
| Exploration and evaluation expensed | Not separately presented | Nil | (17,538) | (23,907) | (30,580) |
| Finance costs | (182,468) | (174,130) | (88,781) | (240) | (133) |
| Insurance expense | (43,533) | (31,008) | (36,684) | (35,051) | (37,944) |
| Office rental, communication and consumables | (35,073) | (29,999) | (85,827) | (48,545) | (68,606) |
| Other expenses | (6,900) | (7,960) | (87,598) | (41,477) | (19,300) |
| Share based payment expense | Not separately presented | Not separately presented | Included in other expenses | (121,320) | (855,101) |
| Loss for the year | (1,045,713) | (1,022,814) | (931,848) | (1,001,154) | (1,916,718) |
Expenses and losses are shown in parentheses. Current-year observations are used except the explicitly identified FY2024 comparative presentation mappings. The FY2023 AUD (87,598) is retained under other expenses as labelled in the FY2023 current statement.
The FY2025 extraction misplaces AUD 855,101 and AUD 1,916,718 around the share based payment, pre-tax and tax labels. The reported net loss and equity movement support the displayed expense mapping; income tax is not assigned a number from that ambiguous extraction.
FY2023 current-year other expenses include the A$87,598 amount later labelled share-based in a comparative. The later cash reconciliation reports a nil FY2023 share-based add-back; the report preserves this classification tension and does not count a second expense.
Basis and presentation notes (8)
- Business development costs / FY2023 — Nil: Dash on this row in FY2023 current statement.
- Business development costs / FY2024 — Not separately presented: The selected current-year P&L has no distinct business-development cost line for FY2024; do not infer nil or assign it to another expense line without source support.
- Business development costs / FY2025 — Not separately presented: The selected current-year P&L has no distinct business-development cost line for FY2025; do not infer nil or assign it to another expense line without source support.
- Exploration and evaluation expensed / FY2021 — Not separately presented: The selected FY2021 P&L has no separate exploration-expense line; exploration cash payments and capitalised asset movements are different measures.
- Exploration and evaluation expensed / FY2022 — Nil: FY2023 comparative shows a dash for FY2022 on this row.
- Share based payment expense / FY2021 — Not separately presented: The selected FY2021 current-year P&L has no separate share-based expense line; no nil amount follows from the absence.
- Share based payment expense / FY2022 — Not separately presented: The selected FY2022 current-year P&L has no separate share-based expense line; no nil amount follows from the absence.
- Share based payment expense / FY2023 — Included in other expenses: The FY2023 current-year P&L puts A$87,598 under other expenses (R001659), while the FY2024 comparative labels that amount share-based (R002366) and its cash reconciliation has a nil add-back (R002337). Keep the current-year other-expense amount once; show this component as included, with the comparative conflict visible rather than asserting a second numeric expense.
Source: Coppermoly annual reports for the years ended 30 June 2021–2025; exact extraction records and interpretations in the author evidence map.
Comprehensive income and per-share result
AUD, as reported
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Other comprehensive income | (1,611,694) | 1,651,175 | 739,350 | Nil | Nil |
| Total comprehensive income | (2,657,407) | 628,361 | (192,498) | (1,001,154) | (1,916,718) |
| Basic and diluted loss per sharecents per share | (0.05) | (0.05) | (0.04) | (0.16) | (0.25) |
| Weighted average ordinary sharesshares | 2,151,295,843 | 2,184,756,014 | 2,265,205,100 | 627,983,563 | 776,434,902 |
EPS is displayed as cents per share. Some extracted EPS unit metadata says dollars per share; the displayed magnitudes reconcile as cents when statutory losses are divided by weighted-average shares and multiplied by 100. Share counts are weighted averages rather than year-end issued shares. FY2023 OCI includes foreign currency translation and a reclassification on sale of the PNG subsidiary.
Basis and presentation notes (2)
- Other comprehensive income / FY2024 — Nil: Reported dash.
- Other comprehensive income / FY2025 — Nil: Reported nil.
Source: Coppermoly annual reports for the years ended 30 June 2021–2025; exact extraction records and interpretations in the author evidence map.
FINANCIAL REVIEW / 02
Financial position and exploration assets
The FY2023 disposal reset the asset base. Convertible-note borrowings moved from non-current at 30 June 2021 to current at 30 June 2022, then the notes were converted into 170,000,000 ordinary shares following shareholder approval on 24 April 2023. Australian exploration assets rose in FY2024 and FY2025.
Closing cash
AUD, as reported
Cash and cash equivalents
AI-generated presentation · values from Consolidated financial position at 30 June; no missing values plotted as zero.
Exploration assets held
AUD, as reported
Capitalised exploration and evaluation assets, closing
AI-generated presentation · values from Exploration asset carrying amounts and additions; no missing values plotted as zero.
Consolidated financial position at 30 June
AUD, as reported
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 3,392,794 | 2,101,502 | 2,084,505 | 1,975,178 | 1,559,849 |
| Trade and other receivables | 68,752 | 49,375 | 21,985 | 75,571 | 68,366 |
| Total current assets | 3,461,546 | 2,150,877 | 2,106,490 | 2,050,749 | 1,628,215 |
| Other non-current receivables | 15,588 | 18,183 | 1,000 | 1,000 | 4,500 |
| Property, plant and equipment | 173,564 | 121,400 | 4,353 | 1,783 | Nil |
| Capitalised exploration and evaluation assets | 15,798,966 | 18,267,835 | 143,073 | 1,319,469 | 2,630,289 |
| Total assets | 19,485,318 | 20,558,295 | 2,254,916 | 3,373,001 | 4,263,004 |
| Trade and other payables | 236,315 | 308,483 | 152,192 | 103,065 | 335,132 |
| Current provisions | 37,514 | 22,632 | 43,648 | 34,306 | 3,859 |
| Borrowings — current | Nil | 1,782,230 | Nil | Not separately presented | Not separately presented |
| Total current liabilities | 316,221 | 2,113,345 | 195,840 | 137,371 | 338,991 |
| Borrowings — non-current | 1,612,508 | Nil | Nil | Not separately presented | Not separately presented |
| Total non-current liabilities | 1,612,508 | Nil | Nil | Not separately presented | Not separately presented |
| Total liabilities | 1,928,729 | 2,113,345 | 195,840 | 137,371 | 338,991 |
| Net assets / total equity | 17,556,589 | 18,444,950 | 2,059,076 | 3,235,630 | 3,924,013 |
Balance sheet values are end-of-year snapshots. Convertible-note borrowings were AUD 1,612,508 non-current at 30 June 2021 and AUD 1,782,230 current at 30 June 2022. FY2023 current and non-current borrowing lines are nil after the notes were converted into 170,000,000 shares following 24 April 2023 shareholder approval. The FY2023 sale of Copper Quest PNG also changes the asset boundary.
Basis and presentation notes (13)
- Property, plant and equipment / FY2025 — Nil: Dash on FY2025 PP&E asset line; distinct from cash payments for PP&E.
- Borrowings — current / FY2021 — Nil: FY2021 borrowing balance is classified as non-current below.
- Borrowings — current / FY2023 — Nil: Convertible notes were converted to ordinary shares following 24 April 2023 shareholder approval.
- Borrowings — current / FY2024 — Not separately presented: The selected FY2024 balance sheet has no separate current-borrowing line. The FY2023 note conversion is prior-year context, not proof of a nil FY2024 balance.
- Borrowings — current / FY2025 — Not separately presented: The selected FY2025 balance sheet has no separate current-borrowing line. The FY2023 note conversion is prior-year context, not proof of a nil FY2025 balance.
- Borrowings — non-current / FY2022 — Nil: FY2022 borrowing balance is classified as current above.
- Borrowings — non-current / FY2023 — Nil: No non-current borrowing after convertible-note conversion.
- Borrowings — non-current / FY2024 — Not separately presented: The selected FY2024 balance sheet has no separate non-current borrowing line; no debt balance is inferred from its absence.
- Borrowings — non-current / FY2025 — Not separately presented: The selected FY2025 balance sheet has no separate non-current borrowing line; no debt balance is inferred from its absence.
- Total non-current liabilities / FY2022 — Nil: Source reports zero.
- Total non-current liabilities / FY2023 — Nil: Source dash on subtotal row.
- Total non-current liabilities / FY2024 — Not separately presented: The selected FY2024 balance sheet does not state a non-current-liability subtotal. Current and total liabilities match, but no separate reported nil line is asserted.
- Total non-current liabilities / FY2025 — Not separately presented: The selected FY2025 balance sheet does not state a non-current-liability subtotal. Current and total liabilities match, but no separate reported nil line is asserted.
Source: Coppermoly annual reports for the years ended 30 June 2021–2025; exact extraction records and interpretations in the author evidence map.
Exploration asset carrying amounts and additions
AUD, as reported
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Capitalised exploration and evaluation assets, closing | 15,798,966 | 18,267,835 | 143,073 | 1,319,469 | 2,630,289 |
| PNG exploration expenditure capitalised | 586,289 | 1,011,921 | 494,919 | Not applicable | Not applicable |
| Australian exploration expenditure capitalised | Not separately presented | 35,053 | 108,020 | 1,176,396 | 1,310,820 |
Additions are accrual asset movements by jurisdiction, distinct from investing cash payments. The large FY2023 fall in the carrying amount reflects the PNG subsidiary disposal; it is not a cash expense of that year.
PNG subsidiary additions are not applicable to the continuing group after the FY2023 sale of Copper Quest PNG; FY2024–FY2025 are not numeric zero observations for that former subsidiary.
Basis and presentation notes (3)
- PNG exploration expenditure capitalised / FY2024 — Not applicable: Copper Quest PNG and all PNG assets were sold in FY2023 (R001304); the former PNG subsidiary is outside the group for FY2024, so its capitalised-additions row is not applicable to the continuing group. This is not a zero for all PNG-related spending.
- PNG exploration expenditure capitalised / FY2025 — Not applicable: Copper Quest PNG and all PNG assets were sold in FY2023 (R001304); the former PNG subsidiary is outside the group for FY2025, so its capitalised-additions row is not applicable to the continuing group. This is not a zero for all PNG-related spending.
- Australian exploration expenditure capitalised / FY2021 — Not separately presented: No FY2021 Australian capitalised-exploration additions were separately identified in the selected annual extraction; PNG additions and cash exploration payments are different scopes.
Source: Coppermoly annual reports for the years ended 30 June 2021–2025; exact extraction records and interpretations in the author evidence map.
Exploration expenditure commitments at 30 June
AUD, as reported
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Due within one year | 74,986 | 295,371 | 170,000 | 210,000 | 217,500 |
| Due after one year and within five years | 391,502 | 973,726 | 630,000 | 420,000 | 1,192,667 |
| Total commitments | 466,488 | 1,269,097 | 800,000 | 630,000 | 1,410,167 |
These are tenure-related minimum expenditure commitments disclosed at reporting dates, not liabilities or cash expenses already recognised.
Source: Coppermoly annual reports for the years ended 30 June 2021–2025; exact extraction records and interpretations in the author evidence map.
FINANCIAL REVIEW / 03
Cash funding and investment
Exploration asset payments are investing cash outflows, while the FY2023 disposal cash proceeds and subsequent share issues appear in separate lines. This distinction matters when comparing operating cash use with changes in closing cash.
Operating and investing cash flows
AUD, as reported
Net cash from operating activitiesNet cash from investing activities
AI-generated presentation · values from Consolidated cash flows; no missing values plotted as zero.
Consolidated cash flows
AUD, as reported
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Interest received (operating) | 1,352 | 593 | 14,152 | 32,674 | 21,539 |
| Government grants received (operating) | 37,500 | Nil | Not separately presented | Not separately presented | Not separately presented |
| Payments to suppliers and employees (incl. GST) | (708,343) | (536,956) | (664,612) | (1,017,409) | (1,099,604) |
| Finance costs paid (operating) | (1,841) | (1,451) | Nil | Not separately presented | Not separately presented |
| Net cash from operating activities | (671,332) | (537,814) | (650,460) | (984,735) | (1,078,065) |
| Payments for exploration and evaluation assets | (503,192) | (718,612) | (683,440) | (1,039,456) | (1,083,640) |
| Payments for property, plant and equipment | (10,204) | (7,535) | (2,222) | Nil | (3,624) |
| Proceeds from sale of investment, net of cash disposed | Not separately presented | Nil | 473,205 | Nil | Nil |
| Net cash from investing activities | (513,396) | (726,147) | (212,457) | (1,039,456) | (1,087,264) |
| Proceeds from share issues | Nil | Nil | 845,920 | 1,992,864 | 1,750,000 |
| Share issue costs paid | Nil | Not separately presented | Nil | (78,000) | Nil |
| Lease liability repayments (financing) | (44,028) | (45,349) | Nil | Not separately presented | Not separately presented |
| Net cash from financing activities | (44,028) | (45,349) | 845,920 | 1,914,864 | 1,750,000 |
| Net change in cash before exchange effects | (1,228,756) | (1,309,311) | (16,997) | (109,327) | (415,329) |
| Cash and cash equivalents at year end | 3,392,794 | 2,101,502 | 2,084,505 | 1,975,178 | 1,559,849 |
Cash investing payments for exploration are period cash flows, not the carrying amount of exploration assets. The FY2023 disposal proceeds are net of cash disposed and remain visible separately from recurring exploration payments.
Rows not separately shown in a selected year's cash-flow statement remain presentation states; they are not zero cash flows or substitutes for accrual P&L lines.
Basis and presentation notes (21)
- Government grants received (operating) / FY2022 — Nil: Reported dash on grant receipt line.
- Government grants received (operating) / FY2023 — Not separately presented: The FY2023 operating cash-flow extraction has no separate government-grant receipt line; this is not evidence of zero grants.
- Government grants received (operating) / FY2024 — Not separately presented: The FY2024 operating cash-flow extraction has no separate government-grant receipt line; this is not evidence of zero grants.
- Government grants received (operating) / FY2025 — Not separately presented: The FY2025 operating cash-flow extraction has no separate government-grant receipt line; this is not evidence of zero grants.
- Finance costs paid (operating) / FY2023 — Nil: Reported dash on finance costs paid line.
- Finance costs paid (operating) / FY2024 — Not separately presented: The FY2024 operating cash-flow extraction has no separate finance-cost payment line. Accrual finance expense cannot be substituted for cash paid.
- Finance costs paid (operating) / FY2025 — Not separately presented: The FY2025 operating cash-flow extraction has no separate finance-cost payment line. Accrual finance expense cannot be substituted for cash paid.
- Payments for property, plant and equipment / FY2024 — Nil: Reported dash; this cash-flow line is distinct from PP&E assets.
- Proceeds from sale of investment, net of cash disposed / FY2021 — Not separately presented: The selected FY2021 investing cash-flow extraction has no separate sale-of-investment proceeds line; the FY2023 PNG disposal is a later transaction and does not set FY2021 to zero.
- Proceeds from sale of investment, net of cash disposed / FY2022 — Nil: Comparative dash on this investing line.
- Proceeds from sale of investment, net of cash disposed / FY2024 — Nil: Reported dash.
- Proceeds from sale of investment, net of cash disposed / FY2025 — Nil: Reported dash.
- Proceeds from share issues / FY2021 — Nil: Reported dash.
- Proceeds from share issues / FY2022 — Nil: FY2023 comparative dash.
- Share issue costs paid / FY2021 — Nil: Reported dash.
- Share issue costs paid / FY2022 — Not separately presented: The selected FY2022 financing cash-flow extraction has no separate share-issue-cost payment line; absence is not a reported nil.
- Share issue costs paid / FY2023 — Nil: FY2024 comparative dash.
- Share issue costs paid / FY2025 — Nil: Reported dash.
- Lease liability repayments (financing) / FY2023 — Nil: Reported dash.
- Lease liability repayments (financing) / FY2024 — Not separately presented: The FY2024 financing cash-flow extraction has no separate lease-repayment line; a missing cash-flow component is not a nil lease liability or repayment.
- Lease liability repayments (financing) / FY2025 — Not separately presented: The FY2025 financing cash-flow extraction has no separate lease-repayment line; a missing cash-flow component is not a nil lease liability or repayment.
Source: Coppermoly annual reports for the years ended 30 June 2021–2025; exact extraction records and interpretations in the author evidence map.
FINANCIAL REVIEW / 04
Capital and shareholder returns
The FY2023 cancellation of shares formed part of the PNG subsidiary transaction. The company reported no dividends paid across the five years; later equity funding increased shares on issue.
Ordinary shares on issue
shares
Ordinary shares on issue
AI-generated presentation · values from Capital structure and shareholder returns; no missing values plotted as zero.
Capital structure and shareholder returns
AUD, as reported
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Ordinary shares on issueshares | 2,172,290,279 | 2,193,956,929 | 530,126,906 | 707,657,429 | 882,657,429 |
| Contributed equity | 30,815,539 | 31,075,539 | 14,882,163 | 16,938,551 | 18,688,551 |
| Share option reserve | 3,433,487 | 3,433,487 | 3,433,487 | 3,554,807 | 4,409,908 |
| Dividends paidAUD | Nil | Nil | Nil | Nil | Nil |
The FY2023 share count and contributed equity reflect the 1,955,024,388-share buy-back and cancellation on sale of Copper Quest PNG. Dividends are stated as nil by the issuer in each year; share buy-back is a separate non-cash consideration component of the subsidiary disposal.
Basis and presentation notes (5)
- Dividends paid / FY2021 — Nil: Issuer states no dividends paid for this year.
- Dividends paid / FY2022 — Nil: Issuer states no dividends paid for this year.
- Dividends paid / FY2023 — Nil: Issuer states no dividends paid for this year.
- Dividends paid / FY2024 — Nil: Issuer states no dividends paid for this year.
- Dividends paid / FY2025 — Nil: Issuer states no dividends paid for this year.
Source: Coppermoly annual reports for the years ended 30 June 2021–2025; exact extraction records and interpretations in the author evidence map.
Reading the figures
- The FY2024–FY2025 profit-and-loss extraction groups or shifts several adjacent expense, pre-tax and income-tax tokens. Expense values marked in the evidence map as CALC are presentation mappings corroborated by reserve movements and reported loss, not altered original records. A separate FY2025 statutory pre-tax and tax split is not asserted.
- The selected annual-table database inventory returned FY2021 and FY2022 document tables only, with no saved row interpretations. FY2023–FY2025 figures rely on the frozen annual extraction packet; no raw document was opened under this run's evidence boundary.
- Some historical metrics were not separately presented across all years. Not presented and not applicable cells are labelled explicitly; they are not zeros.
Annual-report source registry
- Annual Report to shareholdersYear ended 2021-06-30; report dated 2021-09-30.
- Annual ReportYear ended 2022-06-30; report dated 2022-09-28.
- Annual Report to ShareholdersYear ended 2023-06-30; report dated 2023-09-26.
- Annual ReportYear ended 2024-06-30; report dated 2024-09-17.
- Annual Report to ShareholdersYear ended 2025-06-30; report dated 2025-09-26.
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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