FY2021
Pre-IPO Chilean project build-out
Culpeo expanded Las Petacas and acquired the San Sebastian project through Atacama Holdings; the 11:2 share consolidation took effect in May 2021. The September 2021 ASX listing is a subsequent FY2022 event.
ASX: CPO · Five-year financial review
Culpeo Minerals Limited (ASX: CPO) - Five-Year Financial Review FY2021-FY2025
An evidence-led review of Culpeo's statutory Australian-dollar results and financing as a Chilean copper explorer. Flow figures span unequal periods at the 2024 year-end transition; balance-sheet figures use actual dates.
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 after tax
A$1.81m
12 months ended 31 Dec 2025
Cash at 31 Dec 2025
A$1.98m
Consolidated balance sheet
FY2025 share issue proceeds
A$4.47m
Cash inflow before issue costs
Exploration asset
A$7.10m
At 31 Dec 2025
Five years in context
Culpeo remained an exploration-stage copper group with no evidenced external customer sales. The major financial pattern is recurring statutory losses and operating/investing cash outflows funded mainly by equity raisings, while capitalised exploration assets grew. Other revenue is reported income, not evidence of copper sales.
The 2024 annual package contains both a 12-month period to 30 June 2024 and a separate six-month transition to 31 December 2024. Those flow measures are not directly comparable to a full year. The selected FY2025 financial statements identify the following column as the year ended 31 December 2025, resolving the frozen narrative's conflicting six-month wording; the intermediate June 2024 cash and exploration figures are preserved in separate bridge tables.
Exploration spending was accompanied by project portfolio changes: Lana Corina and Fortuna entered the portfolio, while some exploration balances were later written off or impaired. These are disclosed project and accounting events; the data do not establish commercial production or a revenue forecast.
Events behind the numbers
FY2022
ASX listing and Lana Corina entry
The September 2021 IPO raised A$6.0m before costs. Culpeo began drilling at Las Petacas and entered the Lana Corina option in March 2022.
FY2023
Lana Corina drilling and funding
Phase 1 and Phase 2 drilling advanced Lana Corina, while the year included entitlement/shortfall raisings. The FY2023 auditor identified material uncertainty related to going concern.
TY2024
Six-month year-end transition
The financial year-end moved from 30 June to 31 December, producing a six-month period to 31 December 2024. The issuer warned that the transition and prior 12-month comparative are not entirely comparable.
FY2025
December full year and placement funding
The first full December year reported A$4.47m cash proceeds from share issues and an A$1.81m after-tax loss. Jupiter exploration ceased and the related capitalised balance was impaired.
FINANCIAL REVIEW / 01
Statutory performance
The loss series is statutory and consolidated. The six-month transition and the FY2025 full year require the different duration labels shown in the table and chart.
The FY2023 reported loss per share is retained as printed. Its saved EPS note and profit-or-loss attribution give different owner-loss numerators, and neither reconciles the printed cents-per-share amount with the reported weighted-average shares. The selected evidence therefore does not establish a corrected FY2023 EPS basis.
Reported statutory loss after tax
$
Loss after tax (consolidated)
AI-generated presentation · values from Consolidated profit or loss by actual reporting period; no missing values plotted as zero.
Consolidated profit or loss by actual reporting period
AUD
| Metric | FY2021 | FY2022 | FY2023 | TY2024 | FY2025 |
|---|---|---|---|---|---|
| Other revenue$ | 6 | 2,713 | 6,662 | 5,361 | 6,198 |
| Administration expenses$ | (50,425) | (229,215) | (470,878) | (74,380) | (123,116) |
| Consulting expenses$ | (189,362) | (109,568) | (312,409) | (217,072) | (528,133) |
| Corporate and compliance expenses$ | (277,493) | (299,686) | (282,205) | (259,672) | (371,052) |
| Depreciation$ | 0 (nil) | (1,259) | (1,279) | (354) | (614) |
| Employee related expenses$ | (279,625) | (315,191) | (133,797) | (73,403) | (163,532) |
| Equity based payments (expense/(reversal))$ | 0 (nil) | (290,522) | (85,544) | 11,617 | (34,186) |
| Financial expenses$ | (15,520) | (16,008) | (3,090) | (340) | (1,070) |
| Legal and professional fees$ | (112,747) | (57,342) | (65,811) | (50,904) | (136,030) |
| Impairment of assets (general)$ | (32,828) | (254,395) | (354,707) | Not separately presented | Not separately presented |
| Impairment of exploration and evaluation assets$ | (227,096) | 0 (nil) | (1,788,249) | 0 (nil) | (133,535) |
| Impairment of VAT receivable$ | Not separately presented | Not separately presented | Not separately presented | (75,506) | (211,429) |
| Exploration expenses (P&L)$ | 0 (nil) | (6,000) | 0 (nil) | Not separately presented | Not separately presented |
| Foreign currency translation (in profit or loss)$ | 2,821 | (489,330) | (3,724) | (17,954) | (116,796) |
| Loss before income tax$ | (1,182,269) | (2,065,803) | (3,495,031) | (752,607) | (1,813,295) |
| Income tax expense$ | 0 (nil) | 0 (nil) | 0 (nil) | 0 (nil) | 0 (nil) |
| Loss after tax (consolidated)$ | (1,182,269) | (2,065,803) | (3,495,031) | (752,607) | (1,813,295) |
AUD units; expenses and losses shown in parentheses. TY2024 is six months ended 31 December 2024; FY2025 is 12 months ended 31 December 2025. The 12 months to 30 June 2024 are shown separately below.
No external customer sales are evidenced; 'Other revenue' is reported by the issuer. The selected FY2023 source table confirms its foreign-currency line. Source dashes are shown as Nil only for their exact rows; FY2021 comparative nil cells derive from the FY2022 statement.
Basis and presentation notes (18)
- Depreciation / FY2021 — 0 (nil): FY2022 statement's FY2021 comparative shows a dash for this exact line; FY2021 current statement did not separately list it.
- Equity based payments (expense/(reversal)) / FY2021 — 0 (nil): FY2022 statement's FY2021 comparative shows a dash for this exact line; FY2021 current statement did not separately list it.
- Impairment of assets (general) / TY2024 — Not separately presented: No separate general impairment line is presented for TY2024; the report retains separately disclosed exploration and VAT impairment rows without assuming that they exhaust every impairment category.
- Impairment of assets (general) / FY2025 — Not separately presented: No separate general impairment line is presented for FY2025; the report retains separately disclosed exploration and VAT impairment rows without assuming that they exhaust every impairment category.
- Impairment of exploration and evaluation assets / FY2022 — 0 (nil): Nil
- Impairment of exploration and evaluation assets / TY2024 — 0 (nil): Source row shows a dash for this amount.
- Impairment of VAT receivable / FY2021 — Not separately presented: The selected FY2021 statement does not separately present Impairment of VAT receivable; no zero or issuer-wide non-disclosure is inferred.
- Impairment of VAT receivable / FY2022 — Not separately presented: The selected FY2022 statement does not separately present Impairment of VAT receivable; no zero or issuer-wide non-disclosure is inferred.
- Impairment of VAT receivable / FY2023 — Not separately presented: The selected FY2023 statement does not separately present Impairment of VAT receivable; no zero or issuer-wide non-disclosure is inferred.
- Exploration expenses (P&L) / FY2021 — 0 (nil): FY2022 statement's FY2021 comparative shows a dash for this exact line; FY2021 current statement did not separately list it.
- Exploration expenses (P&L) / FY2023 — 0 (nil): Nil
- Exploration expenses (P&L) / TY2024 — Not separately presented: The selected TY2024 statement does not separately present Exploration expenses (P&L); no zero or issuer-wide non-disclosure is inferred.
- Exploration expenses (P&L) / FY2025 — Not separately presented: The selected FY2025 statement does not separately present Exploration expenses (P&L); no zero or issuer-wide non-disclosure is inferred.
- Income tax expense / FY2021 — 0 (nil): Source row shows a dash/nil for this amount.
- Income tax expense / FY2022 — 0 (nil): Source row shows a dash/nil for this amount.
- Income tax expense / FY2023 — 0 (nil): Source row shows a dash/nil for this amount.
- Income tax expense / TY2024 — 0 (nil): 6 months to 31 Dec 2024
- Income tax expense / FY2025 — 0 (nil): Source row shows a dash for this amount.
Source: Culpeo annual reports in the source registry; exact rows and document versions retained in evidence.json.
Intermediate 12 months ended 30 June 2024: statutory profit or loss
AUD
| Metric | 12m to 30 Jun 2024 |
|---|---|
| Other revenue$ | 7,397 |
| Administration expenses$ | (379,596) |
| Consulting expenses$ | (499,931) |
| Corporate and compliance expenses$ | (342,827) |
| Depreciation$ | (950) |
| Employee related expenses$ | (135,165) |
| Equity based payments$ | (326,654) |
| Financial expenses$ | (16,184) |
| Legal and professional fees$ | (91,470) |
| Impairment of VAT receivable$ | (142,532) |
| Impairment of exploration and evaluation assets$ | (941,645) |
| Foreign currency translation (profit or loss)$ | 2,884 |
| Loss before tax$ | (2,866,673) |
| Income tax expense$ | 0 (nil) |
| Loss after tax$ | (2,866,673) |
AUD units; this is the annual source comparative immediately before the six-month TY2024 transition. It is not the TY2024 current-period result.
Basis and presentation notes (1)
- Income tax expense / 12m to 30 Jun 2024 — 0 (nil): Source row shows a dash/nil for this amount.
Source: Culpeo annual reports in the source registry; exact rows and document versions retained in evidence.json.
FINANCIAL REVIEW / 02
Assets, liabilities and funding position
At 31 December 2025, capitalised exploration and evaluation expenditure was the largest disclosed asset. Cash and the exploration asset are separately plotted as balance-date stocks, not spending measures.
Cash and capitalised exploration assets
$
Cash and cash equivalentsExploration and evaluation expenditure
AI-generated presentation · values from Consolidated financial position at each balance date; no missing values plotted as zero.
Consolidated financial position at each balance date
AUD
| Metric | FY2021 | FY2022 | FY2023 | TY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and cash equivalents$ | 442,761 | 1,838,929 | 334,600 | 1,000,648 | 1,984,581 |
| Trade and other receivables$ | 90,300 | 197,813 | 127,314 | 71,225 | 105,918 |
| Total current assets$ | 533,061 | 2,036,742 | 461,914 | 1,071,873 | 2,090,499 |
| Exploration and evaluation expenditure$ | 678,968 | 2,941,038 | 4,441,099 | 5,441,119 | 7,102,930 |
| Total non-current assets$ | 678,968 | 2,945,489 | 4,444,525 | 5,443,021 | 7,104,278 |
| Total assets$ | 1,212,029 | 4,982,231 | 4,906,439 | 6,514,894 | 9,194,777 |
| Trade and other payables$ | 678,422 | 249,435 | 333,437 | 214,429 | 133,180 |
| Total current liabilities$ | 871,079 | 249,435 | 333,437 | 214,429 | 133,180 |
| Total liabilities$ | 871,079 | 249,435 | 333,437 | 214,429 | 133,180 |
| Net assets / Total equity$ | 340,950 | 4,732,796 | 4,573,002 | 6,300,465 | 9,061,597 |
| Issued capital$ | 2,320,150 | 8,772,903 | 10,815,683 | 16,644,893 | 20,280,096 |
| Reserves$ | (16,829) | 113,173 | 1,356,225 | 887,064 | 1,826,288 |
| Accumulated losses$ | (2,141,014) | (4,206,789) | (7,205,288) | (10,705,695) | (12,518,990) |
| Equity attributable to owners of the Company$ | 162,307 | 4,679,287 | 4,966,620 | 6,826,262 | 9,587,394 |
| Non-controlling interest$ | 178,643 | 53,509 | (393,618) | (525,797) | (525,797) |
AUD units; first three columns are at 30 June, TY2024 and FY2025 at 31 December. Net assets and total equity are the same reported consolidated amount.
Current borrowings are excluded here because the FY2024 source used a 'not disclosed' extraction state; total liabilities and payables remain visible. PP&E is a balance-sheet asset, distinct from investing cash payments.
Source: Culpeo annual reports in the source registry; exact rows and document versions retained in evidence.json.
Intermediate financial position at 30 June 2024
AUD
| Metric | 30 Jun 2024 |
|---|---|
| Cash and cash equivalents$ | 404,195 |
| Exploration and evaluation expenditure$ | 4,574,785 |
| Total assets$ | 5,050,568 |
| Total liabilities$ | 188,700 |
| Total equity$ | 4,861,868 |
| Issued capital$ | 14,604,323 |
AUD balance-date values from the FY2024 annual package's 30 June comparative; separate from the 31 December transition balance sheet.
Source: Culpeo annual reports in the source registry; exact rows and document versions retained in evidence.json.
FINANCIAL REVIEW / 03
Cash flow and the year-end bridge
Equity proceeds funded operating and exploration cash requirements. The 12 months to 30 June 2024 are shown below as an intermediate comparative so that the later six-month transition is not mistaken for that full-year interval.
Operating and investing cash flows
$
Net operating cash flowNet investing cash flow
AI-generated presentation · values from Consolidated cash flows and cash bridge; no missing values plotted as zero.
Consolidated cash flows and cash bridge
AUD
| Metric | FY2021 | FY2022 | FY2023 | TY2024 | FY2025 |
|---|---|---|---|---|---|
| Interest income / other operating receipts$ | Not separately presented | 429 | 6,662 | 5,361 | 6,198 |
| Payments to suppliers and employees$ | (549,839) | (1,479,673) | (1,248,890) | (727,566) | (1,536,440) |
| Net operating cash flow$ | (549,839) | (1,479,244) | (1,242,228) | (722,205) | (1,530,242) |
| Payments for exploration and evaluation$ | (92,544) | (2,736,122) | (2,387,468) | (642,056) | (1,679,178) |
| Petacas project acquisition cash payments$ | (479,815) | (145,472) | 0 (nil) | Not separately presented | Not separately presented |
| Quelon project acquisition cash payments$ | Not separately presented | (68,286) | 0 (nil) | Not separately presented | Not separately presented |
| Lana Corina option cash payment$ | Not separately presented | (135,647) | (216,013) | Not separately presented | Not separately presented |
| Project option and earn-in payments$ | Not separately presented | Not separately presented | Not separately presented | (90,003) | (171,868) |
| Selected disclosed project acquisition, option and earn-in cash payments$ | (479,815) | (349,405) | (216,013) | (90,003) | (171,868) |
| Cash received on Petacas and Panga acquisitions$ | 105,045 | 0 (nil) | Not applicable | Not applicable | Not applicable |
| Purchase of plant and equipment (cash)$ | Not separately presented | (5,710) | 0 (nil) | Not separately presented | Not separately presented |
| Net investing cash flow$ | (467,314) | (3,091,237) | (2,603,481) | (732,059) | (1,851,046) |
| Cash proceeds from share issues$ | 1,576,000 | 6,000,000 | 2,423,837 | 2,150,000 | 4,466,820 |
| Cash costs of share issues$ | (128,367) | (37,619) | (181,057) | (109,430) | (261,821) |
| Net financing cash flow$ | 1,447,633 | 5,962,381 | 2,242,780 | 2,040,570 | 4,204,999 |
| Net cash movement before exchange$ | 430,480 | 1,391,900 | (1,602,929) | 586,306 | 823,711 |
| Cash at beginning of period$ | 10,222 | 442,761 | 1,838,929 | 404,195 | 1,000,648 |
| Exchange effect on cash$ | 2,059 | 4,268 | 98,600 | 10,147 | 160,222 |
| Cash at end of period$ | 442,761 | 1,838,929 | 334,600 | 1,000,648 | 1,984,581 |
AUD units, cash outflows in parentheses. FY2021–FY2023 are 12-month June years; TY2024 is the six-month transition; FY2025 is a 12-month December year.
The TY2024 and FY2025 statements report generic project option and earn-in cash payments without identifying Petacas, Quelon or Lana Corina components. Those named cells are presentation-limited, not nil or proved included. Share proceeds and issue costs are cash flows; noncash equity issues are excluded.
The selected-project-payments row combines only the named cash outflows actually disclosed: Petacas in FY2021; Petacas, Quelon and Lana Corina in FY2022; Lana Corina in FY2023; and the issuer combined option/earn-in line in TY2024 and FY2025. It is not a complete all-project spending total, and TY2024 is six months.
Basis and presentation notes (22)
- Interest income / other operating receipts / FY2021 — Not separately presented: The selected FY2021 statement does not separately present Interest income / other operating receipts; no zero or issuer-wide non-disclosure is inferred.
- Petacas project acquisition cash payments / FY2023 — 0 (nil): Source row shows a dash/nil for this amount.
- Petacas project acquisition cash payments / TY2024 — Not separately presented: The TY2024 six-month transition-period cash-flow statement reports generic project option and earn-in payments (DB-01a066f4-67ee-7e5b-a3c7-37d49eb07d3a-r010-c04), but does not identify this named project. Whether it had a payment within that generic line is unknown in selected evidence; no named amount is separately presented.
- Petacas project acquisition cash payments / FY2025 — Not separately presented: The FY2025 twelve-month December-year cash-flow statement reports generic project option and earn-in payments (DB-01a066f4-67ee-7e5b-a3c7-37d49eb07d3a-r010-c03), but does not identify this named project. Whether it had a payment within that generic line is unknown in selected evidence; no named amount is separately presented.
- Quelon project acquisition cash payments / FY2021 — Not separately presented: The selected FY2021 statement does not separately present Quelon project acquisition cash payments; no zero or issuer-wide non-disclosure is inferred.
- Quelon project acquisition cash payments / FY2023 — 0 (nil): Source row shows a dash/nil for this amount.
- Quelon project acquisition cash payments / TY2024 — Not separately presented: The TY2024 six-month transition-period cash-flow statement reports generic project option and earn-in payments (DB-01a066f4-67ee-7e5b-a3c7-37d49eb07d3a-r010-c04), but does not identify this named project. Whether it had a payment within that generic line is unknown in selected evidence; no named amount is separately presented.
- Quelon project acquisition cash payments / FY2025 — Not separately presented: The FY2025 twelve-month December-year cash-flow statement reports generic project option and earn-in payments (DB-01a066f4-67ee-7e5b-a3c7-37d49eb07d3a-r010-c03), but does not identify this named project. Whether it had a payment within that generic line is unknown in selected evidence; no named amount is separately presented.
- Lana Corina option cash payment / FY2021 — Not separately presented: The selected FY2021 statement does not separately present Lana Corina option cash payment; no zero or issuer-wide non-disclosure is inferred.
- Lana Corina option cash payment / TY2024 — Not separately presented: The TY2024 six-month transition-period cash-flow statement reports generic project option and earn-in payments (DB-01a066f4-67ee-7e5b-a3c7-37d49eb07d3a-r010-c04), but does not identify this named project. Whether it had a payment within that generic line is unknown in selected evidence; no named amount is separately presented.
- Lana Corina option cash payment / FY2025 — Not separately presented: The FY2025 twelve-month December-year cash-flow statement reports generic project option and earn-in payments (DB-01a066f4-67ee-7e5b-a3c7-37d49eb07d3a-r010-c03), but does not identify this named project. Whether it had a payment within that generic line is unknown in selected evidence; no named amount is separately presented.
- Project option and earn-in payments / FY2021 — Not separately presented: No issuer combined option/earn-in line is separately presented for FY2021. Named project acquisition/option cash components remain visible and the broader selected-project-payments row shows only disclosed outflows.
- Project option and earn-in payments / FY2022 — Not separately presented: No issuer combined option/earn-in line is separately presented for FY2022. Named project acquisition/option cash components remain visible and the broader selected-project-payments row shows only disclosed outflows.
- Project option and earn-in payments / FY2023 — Not separately presented: No issuer combined option/earn-in line is separately presented for FY2023. Named project acquisition/option cash components remain visible and the broader selected-project-payments row shows only disclosed outflows.
- Cash received on Petacas and Panga acquisitions / FY2022 — 0 (nil): Source row shows a dash/nil for this amount.
- Cash received on Petacas and Panga acquisitions / FY2023 — Not applicable: This row names cash received on the earlier Petacas and Panga acquisitions. That specific acquisition receipt does not apply in FY2023; this says nothing about unrelated acquisition cash.
- Cash received on Petacas and Panga acquisitions / TY2024 — Not applicable: This row names cash received on the earlier Petacas and Panga acquisitions. That specific acquisition receipt does not apply in TY2024; this says nothing about unrelated acquisition cash.
- Cash received on Petacas and Panga acquisitions / FY2025 — Not applicable: This row names cash received on the earlier Petacas and Panga acquisitions. That specific acquisition receipt does not apply in FY2025; this says nothing about unrelated acquisition cash.
- Purchase of plant and equipment (cash) / FY2021 — Not separately presented: The selected FY2021 statement does not separately present Purchase of plant and equipment (cash); no zero or issuer-wide non-disclosure is inferred.
- Purchase of plant and equipment (cash) / FY2023 — 0 (nil): Source row shows a dash/nil for this amount.
- Purchase of plant and equipment (cash) / TY2024 — Not separately presented: The selected TY2024 statement does not separately present Purchase of plant and equipment (cash); no zero or issuer-wide non-disclosure is inferred.
- Purchase of plant and equipment (cash) / FY2025 — Not separately presented: The selected FY2025 statement does not separately present Purchase of plant and equipment (cash); no zero or issuer-wide non-disclosure is inferred.
Source: FY2021–FY2023 frozen annual cash-flow facts; selected FY2025 statement of cash flows, including its TY2024 comparative. Exact source rows in evidence.json.
Intermediate 12 months ended 30 June 2024 (source comparative)
AUD
| Metric | 12m to 30 Jun 2024 |
|---|---|
| Net operating cash flow$ | (1,305,809) |
| Exploration and evaluation cash payments$ | (1,634,262) |
| Lana Corina option cash payment$ | (408,346) |
| Net investing cash flow$ | (2,214,978) |
| Net financing cash flow$ | 3,451,262 |
| Cash at 30 June 2024$ | 404,195 |
This interval is distinct from TY2024 (six months to 31 December 2024). It prevents the five selected annual packages from hiding a material 12-month period between FY2023 and the changed year-end.
Source: Culpeo annual reports in the source registry; exact rows and document versions retained in evidence.json.
FINANCIAL REVIEW / 04
Capital structure and shareholder returns
For FY2021 through the six-month TY2024 period, Culpeo explicitly reported no dividend paid, declared or recommended. The FY2025 declaration and recommendation position is not established by the selected evidence. Financing came chiefly through share placements and the earlier IPO; share issue proceeds and costs are visible in the cash-flow table, while closing share counts and capital carrying amounts are shown here.
Ordinary shares and issued capital at balance dates
Mixed: shares and AUD
| Metric | FY2021 | FY2022 | FY2023 | TY2024 | FY2025 |
|---|---|---|---|---|---|
| Fully paid ordinary shares at balance dateshares | 18,979,157 | 55,191,688 | 77,509,844 | 219,962,223 | 650,827,706 |
| Issued capital carrying amount$ | 2,320,150 | 8,772,903 | 10,815,683 | 16,644,893 | 20,280,096 |
Closing shares are a count; issued capital is an AUD carrying amount. The FY2025 securities register date is not substituted for the 31 December 2025 balance-date count.
Source: Culpeo annual reports in the source registry; exact rows and document versions retained in evidence.json.
FINANCIAL REVIEW / 05
Exploration asset and project context
The capitalised exploration asset is an accrual balance. Its annual additions and impairments are distinct from cash payments for exploration and option interests. The FY2025 package records the Jupiter impairment after exploration ceased.
Closing capitalised exploration asset
$
Closing exploration and evaluation asset
AI-generated presentation · values from Capitalised exploration and evaluation asset bridge; no missing values plotted as zero.
Capitalised exploration and evaluation asset bridge
AUD
| Metric | 12m to 30 Jun 2024 | TY2024 | FY2025 |
|---|---|---|---|
| Opening exploration and evaluation asset$ | 4,441,099 | 4,574,785 | 5,441,119 |
| Exploration and evaluation additions$ | 1,541,861 | 732,979 | 1,416,795 |
| Lana Corina option capitalised$ | 408,346 | 0 (nil) | 154,489 |
| Jupiter option capitalised$ | Not separately presented | 0 (nil) | 64,567 |
| Exploration and evaluation impairment$ | (941,645) | 0 (nil) | (133,535) |
| Foreign currency translation movement$ | (874,876) | 133,355 | 159,495 |
| Closing exploration and evaluation asset$ | 4,574,785 | 5,441,119 | 7,102,930 |
AUD asset movements, separate from cash investing payments. The TY2024 opening balance is the June 2024 closing asset; the FY2025 opening balance is the December 2024 closing asset.
The FY2025 Note 4 heading prints 7,104,929, while its roll-forward closes at 7,102,930 and the balance sheet uses 7,102,930. The displayed close follows the roll-forward and balance sheet; the heading discrepancy remains a source limitation.
Basis and presentation notes (4)
- Lana Corina option capitalised / TY2024 — 0 (nil): Source row shows a dash for this amount.
- Jupiter option capitalised / 12m to 30 Jun 2024 — Not separately presented: The 12 months to 30 June 2024 bridge does not separately present a Jupiter option movement; TY2024 source nil and FY2025 expenditure are retained in their exact later periods.
- Jupiter option capitalised / TY2024 — 0 (nil): Source row shows a dash for this amount.
- Exploration and evaluation impairment / TY2024 — 0 (nil): Source row shows a dash for this amount.
Source: FY2024 frozen Note 4 comparative facts and selected FY2025 Note 4 source rows, retained verbatim in evidence.json.
Reading the figures
- Five selected annual reports are represented, but FY2024 is a six-month transition after an intervening 12 months to 30 June 2024; flow comparisons must use the displayed durations.
- The FY2025 Note 4 heading prints A$7,104,929, whereas its roll-forward and statement of financial position close at A$7,102,930; the latter is displayed and the inconsistency is retained. FY2025 total current assets prints '2,090.499'; the displayed A$2,090,499 is the exact sum of cash and receivables.
- FY2021 EPS, weighted shares and loss do not arithmetically reconcile as printed in the selected EPS table. The FY2023 selected EPS table and profit-or-loss attribution supply conflicting numerator bases; printed FY2023 EPS is retained with an explicit qualification.
- The selected FY2025 evidence does not establish whether a dividend was declared or recommended; the no-dividend statement is limited to FY2021 through TY2024.
- No raw annual body or PDF was examined in this source-limited report.
- The selected-project-payments row is a union of disclosed project cash lines with changing project mix and a six-month TY2024 period; it is not a complete or like-for-like all-project spending trend. Earlier named component rows and later combined rows remain visible.
Annual-report source registry
- Culpeo Minerals Limited, Annual Report to shareholdersBalance date 2021-06-30; report document date 2021-09-30.
- Culpeo Minerals Limited, Annual Report to shareholdersBalance date 2022-06-30; report document date 2022-09-30.
- Culpeo Minerals Limited, Annual Report to shareholdersBalance date 2023-06-30; report document date 2023-09-27.
- Culpeo Minerals Limited, Annual Report to shareholdersBalance date 2024-12-31; report document date 2025-03-28.
- Culpeo Minerals Limited, Annual Report to shareholdersBalance date 2025-12-31; report document date 2026-03-27.
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
The source references in this report identify the public disclosures used and should be read with the associated section, table and reporting-period qualifications. This report paraphrases, organises and compares those disclosures for descriptive and educational purposes rather than reproducing source text.
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