FY2021
Jaguar resource update
December 2021 Jaguar estimate: 80.6 Mt at 0.91% nickel. The A$75 million placement completed after year end, in February 2022.
ASX: CTM · Five-year financial review
Centaurus Metals Limited (ASX: CTM) - Five-Year Financial Review FY2021-FY2025
A five-year review of Centaurus Metals’ consolidated AUD statements and Jaguar project estimates. All five fiscal years ended 31 December; project estimates are snapshots rather than produced volumes.
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 cash
A$24.6m
31 December 2025
FY2025 statutory loss
A$14.3m
Consolidated loss for the year
FY2025 operating cash outflow
A$13.2m
Consolidated cash flows
FY2025 Jaguar Ore Reserve
52.0 Mt
Project estimate, not production
Five years in context
Centaurus advanced the Jaguar nickel project in Brazil through exploration, feasibility work and early development. Its statutory income statement shows recurring losses, while cash funding relied principally on new equity. The largest placement cash receipt in this span was A$75 million in FY2022; year-end cash then declined in FY2024 and recovered after FY2025 equity proceeds.
Jaguar resource and reserve figures are dated estimates and have a different meaning from historical financial flows. FY2025 mine development assets also reflect a transfer from exploration and evaluation assets rather than an equivalent cash payment.
Events behind the numbers
FY2022
A$75 million placement
The placement cash proceeds entered FY2022 financing cash flow, while the Jaguar resource estimate reached 108.0 Mt at 0.87% nickel.
FY2023
Equity funding and offtake reset
A further A$46.9 million of equity proceeds was recorded. Centaurus agreed with Vale Base Metals to exchange Vale’s nickel offtake right for an increased royalty.
FY2024
Feasibility study and larger resource
The Jaguar feasibility study was released on 2 July 2024; the reported Jaguar Mineral Resource estimate reached 138.2 Mt at 0.87% nickel.
FY2025
Mine development accounting
After the technical-feasibility assessment, A$10.77 million was transferred from exploration and evaluation assets to mine development properties. The Jaguar Ore Reserve estimate was 52.0 Mt at 0.78% nickel.
FINANCIAL REVIEW / 01
Statutory earnings and per-share result
Centaurus remained an exploration and development issuer during this period. Exploration and evaluation expenditure was charged to profit or loss, and the Group reported statutory losses in every year.
Statutory loss for the period
AUD
Loss for the period
AI-generated presentation · values from Consolidated profit or loss — years ended 31 December; no missing values plotted as zero.
Consolidated profit or loss — years ended 31 December
AUD
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Other income (per Note 7; excl. interest income) | 265,862 | 534,900 | 1,304,766 | 2,233,324 | 630,737 |
| Exploration and evaluation expenditure | -13,198,599 | -36,225,206 | -34,382,991 | -15,711,515 | -9,469,681 |
| Impairment of exploration and evaluation | Not separately presented | Not separately presented | Not separately presented | 0 (nil) | -192,188 |
| Impairment of other receivables | -707,729 | -2,359,170 | -1,464,249 | -220,987 | -144,419 |
| Employee benefits expense | -1,840,182 | -2,497,517 | -3,512,685 | -3,079,823 | -2,974,220 |
| Share-based payments expense | -781,107 | -1,143,562 | -1,107,770 | -1,077,837 | -1,091,441 |
| Listing and share registry fees | -121,082 | -153,333 | -167,110 | -165,137 | -182,456 |
| Professional fees | -321,052 | -604,165 | -773,200 | -558,486 | -536,062 |
| Depreciation | -131,342 | -362,832 | -521,738 | -301,441 | -267,018 |
| Other expenses | -339,041 | -1,131,348 | -1,537,023 | -857,767 | -884,615 |
| Results from operating activities | -17,222,021 | -43,942,233 | -42,162,000 | -19,739,669 | -15,111,363 |
| Interest income | 235,207 | 1,348,066 | 1,454,852 | 1,358,708 | 883,796 |
| Finance expense | -7,901 | -33,388 | -32,854 | -64,675 | -80,503 |
| Loss before income tax | -16,994,715 | -42,627,555 | -40,740,002 | -18,445,636 | -14,308,070 |
| Loss for the period | -16,994,715 | -42,627,555 | -40,740,002 | -18,445,636 | -14,308,070 |
Expenses and losses are negative. The E&E impairment line first appears in the FY2025 statement; earlier N/P cells do not assert zero.
The selected FY2025 statement reports a dash for income tax expense; loss before tax equals loss for the period.
Basis and presentation notes (4)
- Impairment of exploration and evaluation / FY2021 — Not separately presented: Not separately presented in the selected annual statement. This selected-statement presentation does not establish a zero for FY2021.
- Impairment of exploration and evaluation / FY2022 — Not separately presented: Not separately presented in the selected annual statement. This selected-statement presentation does not establish a zero for FY2022.
- Impairment of exploration and evaluation / FY2023 — Not separately presented: Not separately presented in the selected annual statement. This selected-statement presentation does not establish a zero for FY2023.
- Impairment of exploration and evaluation / FY2024 — 0 (nil): FY2025 primary statement shows a dash in its FY2024 comparative; extracted R004767 records nil
Source: Centaurus annual reports; selected consolidated statements and notes.
Loss per ordinary share
AUD cents/share
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Basic loss per share | -5.04 | -10.14 | -8.95 | -3.72 | -2.75 |
| Diluted loss per share | -5.04 | -10.14 | -8.95 | -3.72 | -2.75 |
Per-share losses are negative. The later FY2025 note has a conflicting FY2024 comparative shareholder-loss figure; the statutory FY2024 profit-or-loss statement is used for the income table.
Source: Centaurus annual reports; selected consolidated statements and notes.
FINANCIAL REVIEW / 02
Financial position and project assets
Year-end cash was highest in FY2023 within the selected span. In FY2025 the company reclassified part of Jaguar exploration and evaluation assets into mine development properties after its accounting assessment of technical feasibility and commercial viability.
Year-end cash and cash equivalents
AUD
Cash and cash equivalents
AI-generated presentation · values from Consolidated financial position — 31 December; no missing values plotted as zero.
Consolidated financial position — 31 December
AUD
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 8,259,389 | 34,047,722 | 34,673,852 | 18,043,388 | 24,577,181 |
| Total current assets | 8,789,114 | 35,435,212 | 36,810,898 | 18,558,583 | 25,159,779 |
| Total non-current assets | 18,060,650 | 21,959,469 | 23,512,092 | 20,944,489 | 25,598,570 |
| Total assets | 26,849,764 | 57,394,681 | 60,322,990 | 39,503,072 | 50,758,349 |
| Trade and other payables | 2,893,287 | 4,589,016 | 3,351,700 | 2,372,115 | 1,896,004 |
| Financial liability (current) | 5,161,448 | 1,432,088 | 212,028 | 0 (nil) | Not separately presented |
| Lease liability (current) | 86,576 | 540,419 | 239,075 | 150,940 | 217,746 |
| Financial liability (non-current) | 1,325,267 | 183,926 | 0 (nil) | Not separately presented | Not separately presented |
| Lease liability (non-current) | 29,334 | 488,512 | 267,979 | 498,534 | 506,681 |
| Provisions (current) | Not separately presented | Not separately presented | Not separately presented | Not separately presented | 894,083 |
| Total current liabilities | 8,520,827 | 7,114,302 | 4,750,807 | 3,463,410 | 4,020,163 |
| Provisions (non-current) | Not separately presented | Not separately presented | Not separately presented | Not separately presented | 1,032,663 |
| Total non-current liabilities | 1,578,291 | 951,680 | 355,701 | 611,118 | 1,679,930 |
| Total liabilities | 10,099,118 | 8,065,982 | 5,106,508 | 4,074,528 | 5,700,093 |
| Share capital | 162,962,306 | 236,289,294 | 281,447,226 | 282,542,038 | 305,423,479 |
| Reserves | -7,697,790 | -5,819,170 | -4,680,448 | -7,682,293 | -7,371,588 |
| Accumulated losses | -138,513,870 | -181,141,425 | -221,550,296 | -239,431,201 | -252,993,635 |
| Total equity (net assets) | 16,750,646 | 49,328,699 | 55,216,482 | 35,428,544 | 45,058,256 |
The FY2025 current/non-current asset totals and reserve/accumulated-loss balances were recovered from the selected FY2025 consolidated statement.
Financial liabilities and leases are separate line items. Material financial liabilities were reported in FY2021–FY2023; FY2025 separately reports current and non-current provisions. N/P cells denote lines not separately presented in the selected primary statement.
Basis and presentation notes (13)
- Financial liability (current) / FY2024 — 0 (nil): Dash reported on this statement line
- Financial liability (current) / FY2025 — Not separately presented: Not separately presented in the selected annual statement. This selected-statement presentation does not establish a zero for FY2025.
- Financial liability (non-current) / FY2023 — 0 (nil): Dash reported on this statement line
- Financial liability (non-current) / FY2024 — Not separately presented: Not separately presented in the selected annual statement. This selected-statement presentation does not establish a zero for FY2024.
- Financial liability (non-current) / FY2025 — Not separately presented: Not separately presented in the selected annual statement. This selected-statement presentation does not establish a zero for FY2025.
- Provisions (current) / FY2021 — Not separately presented: Not separately presented in the selected annual statement. This selected-statement presentation does not establish a zero for FY2021.
- Provisions (current) / FY2022 — Not separately presented: Not separately presented in the selected annual statement. This selected-statement presentation does not establish a zero for FY2022.
- Provisions (current) / FY2023 — Not separately presented: Not separately presented in the selected annual statement. This selected-statement presentation does not establish a zero for FY2023.
- Provisions (current) / FY2024 — Not separately presented: Not separately presented in the selected annual statement. This selected-statement presentation does not establish a zero for FY2024.
- Provisions (non-current) / FY2021 — Not separately presented: Not separately presented in the selected annual statement. This selected-statement presentation does not establish a zero for FY2021.
- Provisions (non-current) / FY2022 — Not separately presented: Not separately presented in the selected annual statement. This selected-statement presentation does not establish a zero for FY2022.
- Provisions (non-current) / FY2023 — Not separately presented: Not separately presented in the selected annual statement. This selected-statement presentation does not establish a zero for FY2023.
- Provisions (non-current) / FY2024 — Not separately presented: Not separately presented in the selected annual statement. This selected-statement presentation does not establish a zero for FY2024.
Source: Centaurus annual reports; selected consolidated statements and notes.
Selected project asset balances — 31 December
AUD
| Metric | FY2024 | FY2025 |
|---|---|---|
| Exploration and evaluation assets | 12,415,962 | 1,570,025 |
| Mine assets under development | 0 (nil) | 15,392,119 |
| Property, plant and equipment | 8,327,944 | 8,429,509 |
The FY2025 accounts transferred A$10,765,841 from exploration and evaluation into mine development assets. This is an asset reclassification, not a cash payment.
Basis and presentation notes (1)
- Mine assets under development / FY2024 — 0 (nil): Dash in 2024 selected source row
Source: Centaurus annual reports; selected consolidated statements and notes.
Non-current assets by geography — 31 December
AUD
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Brazil | 17,968,727 | 21,651,685 | 23,170,736 | 20,135,060 | 24,962,283 |
| Australia | 91,923 | 307,784 | 341,356 | 809,429 | 636,287 |
| Total non-current assets | 18,060,650 | 21,959,469 | 23,512,092 | 20,944,489 | 25,598,570 |
Asset location is a balance-sheet geography, not production or revenue by country.
Source: Centaurus annual reports; selected consolidated statements and notes.
FINANCIAL REVIEW / 03
Operating, investing and financing cash flows
Equity issues supplied the largest disclosed financing inflows in FY2022, FY2023 and FY2025. The FY2024 operating cash flow includes an A$3.52 million R&D tax refund; the FY2025 receipt was A$0.61 million.
Cash flow by activity
AUD
Net cash used in operating activitiesNet cash used in investing activitiesNet cash from financing activities
AI-generated presentation · values from Consolidated cash flows — years ended 31 December; no missing values plotted as zero.
Consolidated cash flows — years ended 31 December
AUD
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Exploration and evaluation expenditure (operating) | -12,898,881 | -37,758,214 | -37,662,227 | -16,375,319 | -10,905,704 |
| Payments to suppliers and employees (incl. GST) | -2,560,610 | -3,783,579 | -4,762,615 | -4,277,311 | -3,847,478 |
| R&D tax refund | Included in combined line | Included in combined line | Included in combined line | 3,520,447 | 607,965 |
| Other receipts | 0 (nil) | 265,862 | 517,874 | 23,889 | 21,890 |
| Other operating receipts including R&D tax refund | 0 (nil) | 265,862 | 517,874 | 3,544,336 | 629,855 |
| Interest received | 240,659 | 1,303,051 | 1,292,865 | 1,432,323 | 897,398 |
| Net cash used in operating activities | -15,218,832 | -39,972,880 | -40,614,103 | -15,675,971 | -13,225,929 |
| Payments for property, plant & equipment | -3,323,381 | -3,507,396 | -2,233,281 | -266,514 | -74,476 |
| Payments for mine development | Not separately presented | Not separately presented | Not separately presented | 0 (nil) | -2,051,011 |
| Payments for exploration acquisitions | -1,485,458 | -2,367,239 | -550,877 | -108,245 | -42,624 |
| Buy back of project royalty | -1,000,000 | -1,000,000 | 0 (nil) | Not separately presented | Not separately presented |
| Payment of security deposits | Not separately presented | Not separately presented | 0 (nil) | -62,249 | 0 (nil) |
| Proceeds from sale of mineral assets | Not separately presented | 0 (nil) | 14,020 | 0 (nil) | Not separately presented |
| Proceeds from sale of PP&E | Not separately presented | 20,249 | 0 (nil) | 3,241 | 500 |
| Net cash used in investing activities | -5,808,839 | -6,854,386 | -2,770,138 | -433,767 | -2,167,611 |
| Proceeds from issue of equity securities | 0 (nil) | 75,000,000 | 46,934,212 | 0 (nil) | 23,077,946 |
| Proceeds from exercise of options | 5,462,629 | 1,052,700 | 569,800 | 426,750 | 0 (nil) |
| Capital raising costs | -2,795 | -3,329,802 | -2,979,687 | -180 | -727,705 |
| Payment of lease liability | -109,991 | -252,215 | -572,903 | -326,389 | -325,712 |
| Net cash from financing activities | 5,349,843 | 72,470,683 | 43,951,422 | 100,181 | 22,024,529 |
| Net increase/(decrease) in cash and cash equivalents | -15,677,828 | 25,643,417 | 567,181 | -16,009,557 | 6,630,989 |
| Effect of exchange rate fluctuations on cash held | -152,064 | 144,916 | 58,949 | -620,907 | -97,196 |
| Cash and cash equivalents at 31 December | 8,259,389 | 34,047,722 | 34,673,852 | 18,043,388 | 24,577,181 |
Operating exploration payments and investing acquisition payments are distinct cash lines; neither is the year-end exploration asset.
R&D refund had no separate cash-flow line before FY2024. The FY2025 options-proceeds line is a dash, not the FY2024 comparative A$426,750. FY2023 security-deposit nil is shown in the FY2024 comparative.
Cash movement excludes the separately displayed exchange-rate effect; ending cash reconciles after that effect.
The comparable other-operating-receipts row uses the unsplit Other receipts total before FY2024 and exact R&D-refund-plus-Other-receipts sums in FY2024–FY2025. The earlier R&D component is not individually known; the original rows remain visible.
Basis and presentation notes (25)
- R&D tax refund / FY2021 — Included in combined line: The selected FY2021 cash-flow statement includes any R&D tax refund within Other receipts (R000580); the R&D component is not separately quantified. The comparable combined row shows the total only.
- R&D tax refund / FY2022 — Included in combined line: The selected FY2022 cash-flow statement includes any R&D tax refund within Other receipts (R001697); the R&D component is not separately quantified. The comparable combined row shows the total only.
- R&D tax refund / FY2023 — Included in combined line: The selected FY2023 cash-flow statement includes any R&D tax refund within Other receipts (R003107); the R&D component is not separately quantified. The comparable combined row shows the total only.
- Other receipts / FY2021 — 0 (nil): Dash reported on this statement line
- Other operating receipts including R&D tax refund / FY2021 — 0 (nil): The selected statement presents Other receipts as a combined line; the R&D refund component is not separately measurable.
- Payments for mine development / FY2021 — Not separately presented: Mine-development payments were not separately presented in this earlier cash flow statement. This selected-statement presentation does not establish a zero for FY2021.
- Payments for mine development / FY2022 — Not separately presented: Mine-development payments were not separately presented in this earlier cash flow statement. This selected-statement presentation does not establish a zero for FY2022.
- Payments for mine development / FY2023 — Not separately presented: Mine-development payments were not separately presented in this earlier cash flow statement. This selected-statement presentation does not establish a zero for FY2023.
- Payments for mine development / FY2024 — 0 (nil): Dash reported on this statement line
- Buy back of project royalty / FY2023 — 0 (nil): Dash reported on this statement line
- Buy back of project royalty / FY2024 — Not separately presented: Not separately presented in the selected annual statement. This selected-statement presentation does not establish a zero for FY2024.
- Buy back of project royalty / FY2025 — Not separately presented: Not separately presented in the selected annual statement. This selected-statement presentation does not establish a zero for FY2025.
- Payment of security deposits / FY2021 — Not separately presented: Not separately presented in the selected annual statement. This selected-statement presentation does not establish a zero for FY2021.
- Payment of security deposits / FY2022 — Not separately presented: Not separately presented in the selected annual statement. This selected-statement presentation does not establish a zero for FY2022.
- Payment of security deposits / FY2023 — 0 (nil): Dash reported on this statement line
- Payment of security deposits / FY2025 — 0 (nil): Dash in 2025 selected source row
- Proceeds from sale of mineral assets / FY2021 — Not separately presented: Not separately presented in the selected annual statement. This selected-statement presentation does not establish a zero for FY2021.
- Proceeds from sale of mineral assets / FY2022 — 0 (nil): Dash reported on this statement line
- Proceeds from sale of mineral assets / FY2024 — 0 (nil): Dash reported on this statement line
- Proceeds from sale of mineral assets / FY2025 — Not separately presented: Not separately presented in the selected annual statement. This selected-statement presentation does not establish a zero for FY2025.
- Proceeds from sale of PP&E / FY2021 — Not separately presented: Not separately presented in the selected annual statement. This selected-statement presentation does not establish a zero for FY2021.
- Proceeds from sale of PP&E / FY2023 — 0 (nil): Dash reported on this statement line
- Proceeds from issue of equity securities / FY2021 — 0 (nil): Dash reported on this statement line
- Proceeds from issue of equity securities / FY2024 — 0 (nil): Dash reported on this statement line
- Proceeds from exercise of options / FY2025 — 0 (nil): Dash in 2025 selected source row
Source: Centaurus annual reports; selected consolidated statements and notes.
FINANCIAL REVIEW / 04
Funding and shareholder capital
The share base expanded from equity placements and other share issues. The selected annual reports record no dividend declared or paid in this five-year window.
Equity funding and capital base
Mixed: AUD cash flows and shares
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash proceeds from equity securitiesAUD | 0 (nil) | 75,000,000 | 46,934,212 | 0 (nil) | 23,077,946 |
| Cash proceeds from option exercisesAUD | 5,462,629 | 1,052,700 | 569,800 | 426,750 | 0 (nil) |
| Cash capital-raising costsAUD | -2,795 | -3,329,802 | -2,979,687 | -180 | -727,705 |
| Fully paid ordinary shares at period endshares | 358,291,616 | 427,106,273 | 494,857,633 | 496,701,213 | 562,827,818 |
Funding flows are cash receipts/costs. Year-end shares are a stock measure and do not equal weighted-average shares.
Basis and presentation notes (3)
- Cash proceeds from equity securities / FY2021 — 0 (nil): Dash reported on this statement line
- Cash proceeds from equity securities / FY2024 — 0 (nil): Dash reported on this statement line
- Cash proceeds from option exercises / FY2025 — 0 (nil): Dash in 2025 selected source row
Source: Centaurus annual reports; selected consolidated statements and notes.
FINANCIAL REVIEW / 05
Jaguar resource and reserve estimates
Jaguar Mineral Resource estimates grew across the earlier disclosures, while the FY2025 package repeats the prior 138.2 Mt resource estimate. The FY2025 Ore Reserve estimate is a newer, narrower economic subset and is shown separately.
Jaguar Mineral Resource tonnage
Mt
Mineral Resource tonnage
AI-generated presentation · values from Jaguar Mineral Resource snapshots reported in annual packages; no missing values plotted as zero.
Jaguar Mineral Resource snapshots reported in annual packages
Row units
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Mineral Resource tonnageMt | 80.6 | 108.0 | 109.2 | 138.2 | 138.2 |
| Nickel grade% Ni | 0.91 | 0.87 | 0.87 | 0.87 | 0.87 |
| Contained nickeltonnes | 730,700 | 938,500 | 948,900 | 1,204,400 | 1,204,400 |
Mineral Resources are estimate snapshots, not annual production or sales. FY2025 repeats the 138.2 Mt resource from the preceding reported estimate; no inferred annual increase is implied.
FY2025 contained-nickel extraction is 1,204.4 kt; multiplied by 1,000 solely to present the row consistently in tonnes.
Source: Centaurus annual reports; selected consolidated statements and notes.
Jaguar Ore Reserve snapshots
Row units
| Metric | FY2024 | FY2025 |
|---|---|---|
| Ore Reserve tonnageMt | 63.0 | 52.0 |
| Nickel grade% Ni | 0.73 | 0.78 |
| Contained nickelkt | 459.2 | 406.1 |
Reserve estimates are project snapshots. They should not be read as production, sales, or an annual cash-flow series.
Source: Centaurus annual reports; selected consolidated statements and notes.
Reading the figures
- Selected frozen annual extraction records and nine same-issuer saved DB annual tables were used. No raw parsed body, PDF or external source was reopened.
- Not separately presented means the selected statement did not provide that line, and does not imply zero. Matching source-supported nil cells now display 0 (nil). The combined operating-receipts row avoids assigning an unknown R&D component to earlier years.
- FY2025 EPS Note 12.2 has a FY2024 comparative loss figure that differs by A$10,000 from the FY2024 and FY2025 primary profit-or-loss statements; the primary statutory statement supplies the earnings table.
- Source estimates for Jaguar are snapshots and are not comparable with revenue or production; no production or AISC historical series is inferred.
Annual-report source registry
- Centaurus Metals Limited Annual Report 2021Year ended 2021-12-31; document dated 2022-04-19. Issuer annual report.
- Centaurus Metals Limited Annual Report 2022Year ended 2022-12-31; document dated 2023-04-24. Issuer annual report.
- Centaurus Metals Limited Annual Report 2023Year ended 2023-12-31; document dated 2024-04-29. Issuer annual report.
- Centaurus Metals Limited Annual Report 2024Year ended 2024-12-31; document dated 2025-04-23. Issuer annual report.
- Centaurus Metals Limited Annual Report 2025Year ended 2025-12-31; document dated 2026-04-28. Issuer annual report.
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.
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AI-led method
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