FY2022
Option exercises fund exploration
13,847,906 shares were issued on option exercise, bringing in about $2.8 million of cash proceeds; Orpheus drilling continued.
ASX: CR1 · Five-year financial review
Constellation Resources Limited (ASX: CR1) - Five-Year Financial Review FY2022-FY2026
Five June year ends of an Australian exploration group. Statement values are in the issuer's reported dollars ($); FY2025-FY2026 extraction records identify AUD, while selected FY2022-FY2024 statement headers print '$' without a currency code. Each column uses that year's result or balance, not a later-period event.
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.
FY2026 statutory loss
$(1.58)m
Loss attributable to members; rounded.
FY2026 operating cash flow
$(1.62)m
Net cash used in operations; rounded.
30 June 2026 cash
$520k
Period-end cash, before the subsequent share offer; rounded.
30 June 2026 net assets
$624k
Consolidated net assets; rounded.
Five years in context
Constellation remained an exploration-stage group over these five June years. Statutory losses were recorded each year, and operating cash flow was negative each year. The FY2025 Orpheus impairment and the FY2025 acquisition of Ularring changed the exploration-asset composition; the FY2026 income statement then includes a separately reported other-income line.
The cash balance reached its five-year low at 30 June 2025 and rose modestly by 30 June 2026. Equity funding is visible in financing cash flows and the changes-in-equity statement. The approximately $3.2 million entitlement and shortfall offer described after 30 June 2026 is a subsequent event and is excluded from the FY2026 closing cash balance.
Events behind the numbers
FY2023
Orpheus sampling
Ultrafine soil sampling across the Transline tenements identified nickel and copper anomalism near several geophysical targets.
FY2024
Placement and energy-gas applications
A placement raised $1.4 million gross, while the company became preferred applicant for six natural-hydrogen and helium SPA-AO applications.
FY2025
Orpheus write-down; Ularring acquired
Orpheus was impaired by $350,000. Ularring was acquired on 4 October 2024, with $235,339 of share consideration in the FY2025 equity statement.
FY2026
Granted acreage and Ularring drilling
SPA 048 AO and SPA 049 AO were granted, and maiden RC drilling at Ularring returned shallow anomalous copper-gold intercepts. A further share offer closed after year end.
FINANCIAL REVIEW / 01
Statutory result
Exploration and evaluation expense is the largest recurring charge. FY2025 also includes the separately reported Orpheus impairment. The FY2026 source adds an other-income line; FY2023-FY2024 statements do not present one separately, although their reported losses reconcile to the displayed lines.
Statutory loss attributable to members
$
Loss attributable to members of Constellation Resources Limited
AI-generated presentation · values from Consolidated profit or loss; no missing values plotted as zero.
Exploration and evaluation expense
$
Exploration and evaluation expenses
AI-generated presentation · values from Consolidated profit or loss; no missing values plotted as zero.
Consolidated profit or loss
Reported $
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Interest income$ | 16,151 | 70,348 | 82,662 | 54,620 | 37,618 |
| Other income$ | 0 (nil) | Not separately presented | Not separately presented | 0 (nil) | 238,833 |
| Exploration and evaluation expenses$ | (1,361,230) | (717,936) | (877,786) | (1,740,329) | (1,238,302) |
| Impairment of exploration and evaluation assets$ | Not separately presented | Not separately presented | 0 (nil) | (350,000) | 0 (nil) |
| Administration expenses$ | (517,332) | (424,600) | (435,575) | (455,891) | (490,773) |
| Business development expenses$ | (49,174) | (199,992) | (281,546) | (123,457) | (99,317) |
| Share based payments expenses$ | (18,318) | (972) | (380,674) | (354,501) | (32,200) |
| Loss before income tax$ | (1,929,903) | (1,273,152) | (1,892,919) | (2,969,558) | (1,584,141) |
| Income tax expense$ | 0 (nil) | 0 (nil) | 0 (nil) | 0 (nil) | 0 (nil) |
| Loss attributable to members of Constellation Resources Limited$ | (1,929,903) | (1,273,152) | (1,892,919) | (2,969,558) | (1,584,141) |
| Basic and diluted loss per share$ per share | (0.04) | (0.03) | (0.04) | (0.05) | (0.02) |
Expenses and losses are shown in parentheses. N/P means the line is not separately presented in that year's original statement; 0 (nil) means the matching source line explicitly reports nil. FY2026 renames administration expenses as administration and corporate expenses.
Basic and diluted loss per share is in dollars per share, unlike the other rows. The FY2025 other-income nil is the FY2026 statement's comparative.
Basis and presentation notes (13)
- Other income / FY2022 — 0 (nil): R000308 reports nil for Other income in FY2022; value period and row basis match this cell. Zero is limited to this disclosed line.
- Other income / FY2023 — Not separately presented: The selected FY2023 statutory P&L has no distinct other-income line (original table ref retained); no nil amount is inferred from the reported loss subtotal.
- Other income / FY2024 — Not separately presented: The selected FY2024 statutory P&L has no distinct other-income line (original table ref retained); no nil amount is inferred from the reported loss subtotal.
- Other income / FY2025 — 0 (nil): R001896 reports nil for Other income in FY2025; value period and row basis match this cell. Zero is limited to this disclosed line.
- Impairment of exploration and evaluation assets / FY2022 — Not separately presented: The selected FY2022 P&L has no separate exploration-asset impairment line; later-period nil or impairment entries do not assign this period a zero.
- Impairment of exploration and evaluation assets / FY2023 — Not separately presented: The selected FY2023 P&L has no separate exploration-asset impairment line; later-period nil or impairment entries do not assign this period a zero.
- Impairment of exploration and evaluation assets / FY2024 — 0 (nil): R001433 reports nil for Impairment of exploration and evaluation assets in FY2024; value period and row basis match this cell. Zero is limited to this disclosed line.
- Impairment of exploration and evaluation assets / FY2026 — 0 (nil): R001899 reports nil for Impairment of exploration and evaluation assets in FY2026; value period and row basis match this cell. Zero is limited to this disclosed line.
- Income tax expense / FY2022 — 0 (nil): R000320 reports nil for Income tax expense in FY2022; value period and row basis match this cell. Zero is limited to this disclosed line.
- Income tax expense / FY2023 — 0 (nil): R000775 reports nil for Income tax expense in FY2023; value period and row basis match this cell. Zero is limited to this disclosed line.
- Income tax expense / FY2024 — 0 (nil): R001219 reports nil for Income tax expense in FY2024; value period and row basis match this cell. Zero is limited to this disclosed line.
- Income tax expense / FY2025 — 0 (nil): R001438 reports nil for Income tax expense in FY2025; value period and row basis match this cell. Zero is limited to this disclosed line.
- Income tax expense / FY2026 — 0 (nil): R001909 reports nil for Income tax expense in FY2026; value period and row basis match this cell. Zero is limited to this disclosed line.
Source: Constellation Resources Limited annual reports, consolidated financial statements; source registry below.
FINANCIAL REVIEW / 02
Financial position
Cash and net assets fell sharply in FY2025. The FY2026 year-end cash and net asset balances improved, but the share offer completed after 30 June 2026 does not belong in these balances.
Cash at year end
Reported $
Cash and cash equivalents
AI-generated presentation · values from Consolidated financial position at 30 June; no missing values plotted as zero.
Net assets at year end
Reported $
Net assets
AI-generated presentation · values from Consolidated financial position at 30 June; no missing values plotted as zero.
Consolidated financial position at 30 June
Reported $
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 3,671,576 | 2,415,108 | 2,293,234 | 330,901 | 520,144 |
| Other receivables | 18,096 | 436 | 8,798 | 48,328 | 54,806 |
| Deferred equity costs | Not separately presented | Not separately presented | Not separately presented | 18,961 | 19,886 |
| Total current assets | 3,689,672 | 2,415,544 | 2,302,032 | 398,190 | 594,836 |
| Property, plant and equipment | 45,825 | 35,091 | 29,289 | 32,545 | 25,901 |
| Exploration and evaluation assets | 350,000 | 350,000 | 350,000 | 261,072 | 261,072 |
| Total non-current assets | 395,825 | 385,091 | 379,289 | 293,617 | 286,973 |
| Total assets | 4,085,497 | 2,800,635 | 2,681,321 | 691,807 | 881,809 |
| Trade and other payables | 58,825 | 49,380 | 80,640 | 447,308 | 235,763 |
| Provisions (current) | 18,765 | 15,528 | 20,646 | 46,937 | 21,841 |
| Total current liabilities | 77,590 | 64,908 | 101,286 | 494,245 | 257,604 |
| Total liabilities | 77,590 | 64,908 | 101,286 | 494,245 | 257,604 |
| Net assets | 4,007,907 | 2,735,727 | 2,580,035 | 197,562 | 624,205 |
| Contributed equity | 9,717,833 | 9,717,833 | 11,074,386 | 11,306,970 | 13,285,554 |
| Reserves | 1,342,605 | 1,200,148 | 1,580,822 | 1,935,323 | 1,967,523 |
| Accumulated losses | (7,052,531) | (8,182,254) | (10,075,173) | -13,044,731 | (14,628,872) |
| Total equity | 4,007,907 | 2,735,727 | 2,580,035 | 197,562 | 624,205 |
FY2022-FY2024 selected financial-position headers print '$' without a currency code; later extraction records identify AUD. FY2025 deferred equity costs use the $18,961 comparative in the FY2026 statement; $19,886 is FY2026 current. Earlier statements do not separately present this asset.
Total liabilities are current in the selected statement presentations. Do not treat period-end property, plant and equipment as a cash investing payment.
Basis and presentation notes (3)
- Deferred equity costs / FY2022 — Not separately presented: The selected FY2022 balance sheet has no separately presented deferred-equity-cost asset. The later FY2025 comparative cannot be backfilled into FY2022.
- Deferred equity costs / FY2023 — Not separately presented: The selected FY2023 balance sheet has no separately presented deferred-equity-cost asset. The later FY2025 comparative cannot be backfilled into FY2023.
- Deferred equity costs / FY2024 — Not separately presented: The selected FY2024 balance sheet has no separately presented deferred-equity-cost asset. The later FY2025 comparative cannot be backfilled into FY2024.
Source: Constellation Resources Limited annual reports, consolidated financial statements; source registry below.
FINANCIAL REVIEW / 03
Cash flow and operating reconciliation
Cash used in operations persisted throughout the period. FY2022's original cash-flow statement combines operating payments; later statements split exploration from other employee and supplier payments. The FY2026 R&D refund is a cash receipt and is distinct from the other-income accrual line in profit or loss.
Operating and financing cash flows
$
Net cash flows used in operating activitiesNet cash flows from financing activities
AI-generated presentation · values from Consolidated statement of cash flows; no missing values plotted as zero.
Consolidated statement of cash flows
Reported $
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Interest received from third parties$ | 16,151 | 70,348 | 82,761 | 54,736 | 37,620 |
| R&D tax refund$ | Not separately presented | Not separately presented | Not separately presented | 0 (nil) | 188,539 |
| Payments to employees and suppliers — non-exploration / administration$ | Included in combined line | (589,494) | (722,613) | -467,349 | (665,247) |
| Operating payments for exploration$ | Included in combined line | (737,322) | (835,085) | -1,667,203 | (1,183,426) |
| Combined operating payments to employees/suppliers and exploration$ | (2,036,419) | (1,326,816) | (1,557,698) | (2,134,552) | (1,848,673) |
| Net cash flows used in operating activities$ | (2,020,268) | (1,256,468) | (1,474,937) | -2,079,816 | (1,622,514) |
| Payments for property, plant and equipment$ | (43,616) | 0 (nil) | (3,490) | -14,029 | (6,828) |
| Payments for exploration and evaluation assets (capitalised)$ | Not separately presented | Not separately presented | 0 (nil) | -25,733 | 0 (nil) |
| Net cash flows used in investing activities$ | (43,616) | 0 (nil) | (3,490) | -39,762 | (6,828) |
| Proceeds from issue of ordinary shares$ | 2,799,581 | 0 (nil) | 1,393,000 | 0 (nil) | 1,922,628 |
| Share issue costs$ | (1,226) | 0 (nil) | (36,447) | -2,755 | (104,043) |
| Payments for ordinary shares in advance$ | Not separately presented | Not separately presented | Not separately presented | 160,000 | 0 (nil) |
| Net cash flows from financing activities$ | 2,798,355 | 0 (nil) | 1,356,553 | 157,245 | 1,818,585 |
| Net increase/(decrease) in cash and cash equivalents$ | 734,471 | (1,256,468) | (121,874) | -1,962,333 | 189,243 |
| Cash and cash equivalents at beginning of year$ | 2,937,105 | 3,671,576 | 2,415,108 | 2,293,234 | 330,901 |
| Cash and cash equivalents at end of year$ | 3,671,576 | 2,415,108 | 2,293,234 | 330,901 | 520,144 |
FY2022 reports operating payments in one line, without a reliable split. FY2023–FY2026 disclose non-exploration and exploration payments separately; the combined row sums those same-year signed components, retaining both source rows. Not separately presented is not zero, and dated N/A transaction cells are not recurring trends.
FY2025's $160,000 for ordinary shares in advance is shown separately from proceeds from issued shares. Ularring share consideration was non-cash and is recorded in the equity transaction table.
Every derived combined-payment cell has a calculation record with its two source inputs in evidence.json; FY2022 keeps the issuer-reported A$2,036,419 outflow.
Basis and presentation notes (20)
- R&D tax refund / FY2022 — Not separately presented: The selected FY2022 operating cash-flow statement has no separate R&D tax refund line; later FY2025 nil and FY2026 receipt are different periods.
- R&D tax refund / FY2023 — Not separately presented: The selected FY2023 operating cash-flow statement has no separate R&D tax refund line; later FY2025 nil and FY2026 receipt are different periods.
- R&D tax refund / FY2024 — Not separately presented: The selected FY2024 operating cash-flow statement has no separate R&D tax refund line; later FY2025 nil and FY2026 receipt are different periods.
- R&D tax refund / FY2025 — 0 (nil): R001765 reports nil for R&D tax refund in FY2025; value period and row basis match this cell. Zero is limited to this disclosed line.
- Payments to employees and suppliers — non-exploration / administration / FY2022 — Included in combined line: FY2022 reports one signed operating-payments line of A$2,036,419 (R000178), with no reliable allocation between non-exploration employees/suppliers and exploration payments. The FY2022 combined row carries the full amount; this component is not a separate missing or zero observation.
- Operating payments for exploration / FY2022 — Included in combined line: FY2022 reports one signed operating-payments line of A$2,036,419 (R000178), with no reliable allocation between non-exploration employees/suppliers and exploration payments. The FY2022 combined row carries the full amount; this component is not a separate missing or zero observation.
- Payments for property, plant and equipment / FY2023 — 0 (nil): R000648 reports nil for Payments for property, plant and equipment in FY2023; value period and row basis match this cell. Zero is limited to this disclosed line.
- Payments for exploration and evaluation assets (capitalised) / FY2022 — Not separately presented: The selected FY2022 investing cash-flow statement has no separate capitalised exploration payment line; operating exploration payments are a different classification.
- Payments for exploration and evaluation assets (capitalised) / FY2023 — Not separately presented: The selected FY2023 investing cash-flow statement has no separate capitalised exploration payment line; operating exploration payments are a different classification.
- Payments for exploration and evaluation assets (capitalised) / FY2024 — 0 (nil): R001390 reports nil for Payments for exploration and evaluation assets (capitalised) in FY2024; value period and row basis match this cell. Zero is limited to this disclosed line.
- Payments for exploration and evaluation assets (capitalised) / FY2026 — 0 (nil): R001772 reports nil for Payments for exploration and evaluation assets (capitalised) in FY2026; value period and row basis match this cell. Zero is limited to this disclosed line.
- Net cash flows used in investing activities / FY2023 — 0 (nil): R000650 reports nil for Net cash flows used in investing activities in FY2023; value period and row basis match this cell. Zero is limited to this disclosed line.
- Proceeds from issue of ordinary shares / FY2023 — 0 (nil): R000652 reports nil for Proceeds from issue of ordinary shares in FY2023; value period and row basis match this cell. Zero is limited to this disclosed line.
- Proceeds from issue of ordinary shares / FY2025 — 0 (nil): R001384 reports nil for Proceeds from issue of ordinary shares in FY2025; value period and row basis match this cell. Zero is limited to this disclosed line.
- Share issue costs / FY2023 — 0 (nil): R000654 reports nil for Share issue costs in FY2023; value period and row basis match this cell. Zero is limited to this disclosed line.
- Payments for ordinary shares in advance / FY2022 — Not separately presented: The selected FY2022 financing statement has no separate ordinary-share advance line; FY2025's A$160,000 advance is a later, distinct cash flow.
- Payments for ordinary shares in advance / FY2023 — Not separately presented: The selected FY2023 financing statement has no separate ordinary-share advance line; FY2025's A$160,000 advance is a later, distinct cash flow.
- Payments for ordinary shares in advance / FY2024 — Not separately presented: The selected FY2024 financing statement has no separate ordinary-share advance line; FY2025's A$160,000 advance is a later, distinct cash flow.
- Payments for ordinary shares in advance / FY2026 — 0 (nil): R001782 reports nil for Payments for ordinary shares in advance in FY2026; value period and row basis match this cell. Zero is limited to this disclosed line.
- Net cash flows from financing activities / FY2023 — 0 (nil): R000656 reports nil for Net cash flows from financing activities in FY2023; value period and row basis match this cell. Zero is limited to this disclosed line.
Source: Constellation Resources Limited annual reports, consolidated financial statements; source registry below.
Net loss to operating cash flow reconciliation
Reported $
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Loss for the year$ | (1,929,903) | (1,273,152) | (1,892,919) | (2,969,558) | (1,584,141) |
| Depreciation of plant and equipment$ | 3,121 | 10,734 | 9,292 | 10,773 | 13,472 |
| Share based payment expense$ | 18,318 | 972 | 380,674 | 354,501 | 32,200 |
| Impairment of exploration and evaluation assets$ | Not separately presented | Not separately presented | Not separately presented | 350,000 | 0 (nil) |
| Decrease/(Increase) in trade/other receivables and prepayments$ | (1,789) | 17,660 | (8,362) | (58,491) | (7,403) |
| Increase/(decrease) in trade and other payables$ | (106,158) | (9,446) | 31,261 | 206,668 | (51,545) |
| Increase/(decrease) in provisions$ | (3,857) | (3,236) | 5,117 | 26,291 | (25,097) |
| Net cash outflow from operating activities$ | (2,020,268) | (1,256,468) | (1,474,937) | (2,079,816) | (1,622,514) |
Working-capital rows carry the signs in the issuer's reconciliation. A blank separate impairment row in earlier statements is not converted to zero.
Basis and presentation notes (4)
- Impairment of exploration and evaluation assets / FY2022 — Not separately presented: The selected FY2022 operating-cash reconciliation has no separate impairment add-back; absence is not a nil P&L impairment assertion.
- Impairment of exploration and evaluation assets / FY2023 — Not separately presented: The selected FY2023 operating-cash reconciliation has no separate impairment add-back; absence is not a nil P&L impairment assertion.
- Impairment of exploration and evaluation assets / FY2024 — Not separately presented: The selected FY2024 operating-cash reconciliation has no separate impairment add-back; absence is not a nil P&L impairment assertion.
- Impairment of exploration and evaluation assets / FY2026 — 0 (nil): R001879 reports nil for Impairment of exploration and evaluation assets in FY2026; value period and row basis match this cell. Zero is limited to this disclosed line.
Source: Constellation Resources Limited annual reports, consolidated financial statements; source registry below.
FINANCIAL REVIEW / 04
Equity and capital returns
Contributed equity rose through option exercises, a FY2024 placement, FY2025 non-cash Ularring share consideration and FY2026 entitlement shares. The original FY2025 equity table puts the Ularring $235,339 share issue and $(2,755) issue cost in FY2025, reconciling its $232,584 contributed-equity increase. No dividends were paid, declared or recommended in any of the five reports.
Total equity at year end
$
Total equity
AI-generated presentation · values from Closing components of consolidated equity; no missing values plotted as zero.
Closing components of consolidated equity
Reported $
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Contributed equity (issued capital)$ | 9,717,833 | 9,717,833 | 11,074,386 | 11,306,970 | 13,285,554 |
| Accumulated losses (deficit)$ | (7,052,531) | (8,182,254) | (10,075,173) | (13,044,731) | (14,628,872) |
| Share-based payments reserve$ | 142,457 | 0 | 380,674 | 735,175 | 767,375 |
| Other equity reserve$ | 1,200,148 | 1,200,148 | 1,200,148 | 1,200,148 | 1,200,148 |
| Total equity$ | 4,007,907 | 2,735,727 | 2,580,035 | 197,562 | 624,205 |
The changes-in-equity statement is used for each closing component. FY2025's Ularring share issue is a non-cash equity movement, separate from financing cash receipts.
Source: Constellation Resources Limited annual reports, consolidated financial statements; source registry below.
Selected named equity transactions
Reported $
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Ularring share consideration credited to equity$ | Not applicable | Not applicable | Not applicable | 235,339 | Not applicable |
| FY2025 share issue costs charged to equity$ | Not applicable | Not applicable | Not applicable | (2,755) | Not applicable |
| Entitlement offer shares credited to equity$ | Not applicable | Not applicable | Not applicable | Not applicable | 2,082,627 |
Dated transactions are shown only in their applicable fiscal year; N/A does not mean zero. FY2026 equity credited for the entitlement offer ($2,082,627) differs from its financing cash receipt ($1,922,628); the statements have different recognition bases.
Basis and presentation notes (12)
- Ularring share consideration credited to equity / FY2022 — Not applicable: Ularring acquisition share consideration is the specifically identified FY2025 transaction (DB-FY2025-ULARRING-EQUITY); this FY2022 column is outside that transaction's year and is not a zero assertion about all equity movements.
- Ularring share consideration credited to equity / FY2023 — Not applicable: Ularring acquisition share consideration is the specifically identified FY2025 transaction (DB-FY2025-ULARRING-EQUITY); this FY2023 column is outside that transaction's year and is not a zero assertion about all equity movements.
- Ularring share consideration credited to equity / FY2024 — Not applicable: Ularring acquisition share consideration is the specifically identified FY2025 transaction (DB-FY2025-ULARRING-EQUITY); this FY2024 column is outside that transaction's year and is not a zero assertion about all equity movements.
- Ularring share consideration credited to equity / FY2026 — Not applicable: Ularring acquisition share consideration is the specifically identified FY2025 transaction (DB-FY2025-ULARRING-EQUITY); this FY2026 column is outside that transaction's year and is not a zero assertion about all equity movements.
- FY2025 share issue costs charged to equity / FY2022 — Not applicable: FY2025 share issue costs charged to equity are a dated equity charge (DB-FY2025-EQUITY-ISSUE-COST); FY2022 is outside that charge's year. The source does not attribute these costs specifically to Ularring, and this is not a zero assertion about other share issue costs.
- FY2025 share issue costs charged to equity / FY2023 — Not applicable: FY2025 share issue costs charged to equity are a dated equity charge (DB-FY2025-EQUITY-ISSUE-COST); FY2023 is outside that charge's year. The source does not attribute these costs specifically to Ularring, and this is not a zero assertion about other share issue costs.
- FY2025 share issue costs charged to equity / FY2024 — Not applicable: FY2025 share issue costs charged to equity are a dated equity charge (DB-FY2025-EQUITY-ISSUE-COST); FY2024 is outside that charge's year. The source does not attribute these costs specifically to Ularring, and this is not a zero assertion about other share issue costs.
- FY2025 share issue costs charged to equity / FY2026 — Not applicable: FY2025 share issue costs charged to equity are a dated equity charge (DB-FY2025-EQUITY-ISSUE-COST); FY2026 is outside that charge's year. The source does not attribute these costs specifically to Ularring, and this is not a zero assertion about other share issue costs.
- Entitlement offer shares credited to equity / FY2022 — Not applicable: FY2026 entitlement-offer equity credit is the specifically identified FY2026 transaction (R001666); this FY2022 column is outside that transaction's year and is not a zero assertion about all equity movements.
- Entitlement offer shares credited to equity / FY2023 — Not applicable: FY2026 entitlement-offer equity credit is the specifically identified FY2026 transaction (R001666); this FY2023 column is outside that transaction's year and is not a zero assertion about all equity movements.
- Entitlement offer shares credited to equity / FY2024 — Not applicable: FY2026 entitlement-offer equity credit is the specifically identified FY2026 transaction (R001666); this FY2024 column is outside that transaction's year and is not a zero assertion about all equity movements.
- Entitlement offer shares credited to equity / FY2025 — Not applicable: FY2026 entitlement-offer equity credit is the specifically identified FY2026 transaction (R001666); this FY2025 column is outside that transaction's year and is not a zero assertion about all equity movements.
Source: Constellation Resources Limited annual reports, consolidated financial statements; source registry below.
FINANCIAL REVIEW / 05
Exploration portfolio and asset carrying values
Orpheus carried the reported exploration asset balance through FY2024 and was written down to nil in FY2025. The acquired Ularring project carried $261,072 at both FY2025 and FY2026 balance dates. The carrying-value table is an accounting snapshot, not a mineral production or resource estimate.
Exploration asset carrying value
Reported $
Total exploration and evaluation assets
AI-generated presentation · values from Exploration and evaluation assets by project at 30 June; no missing values plotted as zero.
Exploration and evaluation assets by project at 30 June
Reported $
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Orpheus Project (Fraser Range, Western Australia) | 350,000 | 350,000 | 350,000 | 0 (nil) | 0 (nil) |
| Ularring Copper Gold Project (Western Australia) | Not applicable | Not applicable | Not applicable | 261,072 | 261,072 |
| Total exploration and evaluation assets | 350,000 | 350,000 | 350,000 | 261,072 | 261,072 |
FY2022-FY2024 selected statement headers print '$' without a currency code; later extraction records identify AUD. Ularring was acquired on 4 October 2024, during FY2025; earlier columns are N/A. Orpheus's later nil carrying value follows the FY2025 impairment.
Basis and presentation notes (5)
- Orpheus Project (Fraser Range, Western Australia) / FY2025 — 0 (nil): R001856 reports nil for Orpheus Project (Fraser Range, Western Australia) in FY2025; value period and row basis match this cell. Zero is limited to this disclosed line.
- Orpheus Project (Fraser Range, Western Australia) / FY2026 — 0 (nil): R001855 reports nil for Orpheus Project (Fraser Range, Western Australia) in FY2026; value period and row basis match this cell. Zero is limited to this disclosed line.
- Ularring Copper Gold Project (Western Australia) / FY2022 — Not applicable: Ularring was acquired on 4 October 2024 in FY2025; it was not yet a group project asset at the FY2022 balance date. This is a dated applicability distinction, not a zero carrying amount.
- Ularring Copper Gold Project (Western Australia) / FY2023 — Not applicable: Ularring was acquired on 4 October 2024 in FY2025; it was not yet a group project asset at the FY2023 balance date. This is a dated applicability distinction, not a zero carrying amount.
- Ularring Copper Gold Project (Western Australia) / FY2024 — Not applicable: Ularring was acquired on 4 October 2024 in FY2025; it was not yet a group project asset at the FY2024 balance date. This is a dated applicability distinction, not a zero carrying amount.
Source: Constellation Resources Limited annual reports, consolidated financial statements; source registry below.
Reading the figures
- FY2022-FY2024 selected statement headers print '$' without an explicit currency code; FY2025-FY2026 extraction records identify AUD.
- Ordinary-share counts in the FY2025-FY2026 extracted holder tables do not establish a consistent 30 June balance-date series and are omitted from the trend tables.
- The FY2026 post-year-end entitlement and shortfall offer is discussed only as a subsequent event. It is excluded from FY2026 balance-sheet cash and financing cash flow.
Annual-report source registry
- Constellation Resources Limited, Annual Report to shareholders 2022Year ended 2022-06-30; document dated 2022-08-10.
- Constellation Resources Limited, Annual Report to shareholders 2023Year ended 2023-06-30; document dated 2023-09-26.
- Constellation Resources Limited, Annual Report to shareholders 2024Year ended 2024-06-30; document dated 2024-08-22.
- Constellation Resources Limited, Annual Report to shareholders 2025Year ended 2025-06-30; document dated 2025-09-19.
- Constellation Resources Limited, Annual Report to shareholders 2026Year ended 2026-06-30; document dated 2026-08-31.
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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