30 June 2021: development funding
The company reported no gold sales and closing cash of A$432,029; the auditor identified a material uncertainty related to going concern.
Citigold is a Charters Towers gold development company. These annual-report figures allow comparison of statutory losses, cash use, financing and the group's financial position while distinguishing historical resource estimates from production.
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.
Includes A$20m impairment
Cash used in operations
Consolidated closing balance
After the impairment and annual loss
Citigold's Charters Towers project remained in a funding and development phase across the five years. The issuer reported no gold production in FY2025 and unchanged Mineral Resources and Ore Reserves. Historical cumulative production and the resource estimate should not be read as output during this review period.
Operating cash flow was negative in every year shown. Capital issues, borrowings and gold pre-sale proceeds supplied financing cash, while exploration, evaluation and development used investing cash. The FY2025 statutory loss is dominated by a separate A$20 million impairment; the cash-flow reconciliation adds back non-cash impairment, depreciation and amortisation.
The auditor's going-concern material-uncertainty statements and the gap between capitalised mining assets and market value are material context for reading the balance sheet. At 30 June 2025 the company reported A$2.80 million of negative working capital and a A$743,000 undrawn loan facility; neither is a substitute for cash on hand.
The company reported no gold sales and closing cash of A$432,029; the auditor identified a material uncertainty related to going concern.
Current assets of about A$0.38 million were below current liabilities of about A$1.91 million; management cited placements, loans and possible asset sales as funding sources.
The auditor identified going-concern uncertainty and an impairment indicator as the company's market capitalisation was below group net assets.
The company reported A$635,452 of gold pre-sale proceeds and no gold sales from mining operations; the auditor described reliance on refinancing through share placements and purchase plans.
A$20 million impairment was recognised. Closing cash was A$449,425 and negative working capital A$2.80 million; the auditor retained a going-concern material-uncertainty paragraph.
The A$20 million FY2025 impairment accounts for most of that year's A$22.15 million statutory loss. The statement's small FY2024 and FY2025 revenue amounts are accrual revenue, while customer cash receipts appear separately in the cash-flow statement.
A$
AI-generated presentation · values from Statutory consolidated profit or loss; no missing values plotted as zero.
A$
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | Nil | Nil | Nil | 46,000 | 20,000 |
| Cost of Sales | Nil | Nil | Nil | -107,527 | -90,360 |
| Gross Profit / (Loss) | Nil | Nil | Nil | -61,527 | -70,360 |
| Other Income | 151,349 | 106,762 | 129,578 | 170,669 | 32,139 |
| Personnel benefits expense | -284,564 | -295,000 | -295,000 | -295,000 | -295,000 |
| Depreciation and amortisation expense | -86,014 | -73,566 | -58,608 | -34,617 | -27,667 |
| Finance costs | -127,621 | -210,819 | -415,414 | -362,460 | -530,076 |
| Consulting expense | -413,251 | -559,455 | -574,328 | -404,524 | -407,240 |
| Other expenses | -656,056 | -861,036 | -1,117,870 | -1,323,378 | -851,721 |
| Impairment expense | Not separately presented | Not separately presented | Not separately presented | Nil | -20,000,000 |
| (Loss)/Profit before income tax | -1,416,157 | -1,893,114 | -2,331,642 | -2,310,837 | -22,149,925 |
| Income tax expense | Nil | Nil | Nil | Nil | Nil |
| (Loss)/Profit after tax from continuing operations | -1,416,157 | -1,893,114 | -2,331,642 | -2,310,837 | -22,149,925 |
FY2025's A$20m impairment is separately stated. FY2024's dash is the FY2025 report comparative. Earlier statements have no separate impairment line.
Revenue in the profit or loss statement differs from cash receipts; these are distinct accrual and cash measures.
The first separately identified impairment line in the selected P&L evidence is the FY2024 nil comparative in the FY2025 report; FY2021–FY2023 are not assigned a nil amount from the absence of a separate line.
Source: Citigold annual reports FY2021–FY2025; current-year observations are preferred to later comparatives unless stated.
A$
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Loss attributable to non-controlling interest | Nil | Nil | Nil | Nil | Nil |
| Loss attributable to members of the company | -1,416,157 | -1,893,114 | -2,331,642 | -2,310,837 | -22,149,925 |
| Total comprehensive income | -1,416,157 | -1,893,114 | -2,331,642 | -2,310,837 | -22,149,925 |
Source: Citigold annual reports FY2021–FY2025; current-year observations are preferred to later comparatives unless stated.
Mixed: cents per share; shares
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Basic and diluted EPScents per share | -0.0527 | -0.067 | -0.082 | -0.0789 | -0.7383 |
| Weighted average ordinary shares (basic and diluted)shares | 2,686,414,277 | 2,827,615,073 | 2,843,659,091 | 2,930,079,826 | 3,000,000,000 |
Source: Citigold annual reports FY2021–FY2025; current-year observations are preferred to later comparatives unless stated.
Property, plant and equipment fell in FY2025 as the impairment was recognised. Current liabilities exceeded current assets at the latest balance date, and non-current borrowings increased over the five years. The reported liability and provision lines are retained separately.
$ (as reported)
AI-generated presentation · values from Consolidated financial position at 30 June; no missing values plotted as zero.
A$
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and cash equivalents$ (as reported) | 432,029 | 224,953 | 219,634 | 221,070 | 449,425 |
| Trade and other receivables$ (as reported) | 130,965 | 157,590 | 161,247 | 167,284 | 47,478 |
| Total current assets$ (as reported) | 562,994 | 382,543 | 380,881 | 388,354 | 496,903 |
| Property, plant and equipment$ (as reported) | 109,931,407 | 110,638,724 | 111,451,427 | 112,459,460 | 93,426,449 |
| Other financial assets (non-current)$ (as reported) | 543,803 | 546,303 | 663,763 | 756,495 | 763,995 |
| Total non-current assets$ (as reported) | 110,475,210 | 111,185,027 | 112,115,190 | 113,215,955 | 94,190,444 |
| Total assets$ (as reported) | 111,038,204 | 111,567,570 | 112,496,071 | 113,604,309 | 94,687,347 |
| Trade and other payables (current)$ (as reported) | 2,444,534 | 1,912,568 | 1,662,012 | 1,844,130 | 3,298,597 |
| Total current liabilities$ (as reported) | 2,444,534 | 1,912,568 | 1,662,012 | 1,844,130 | 3,298,597 |
| Trade and other payables (non-current)$ (as reported) | 5,877,894 | 7,209,948 | 9,039,810 | 10,971,125 | 11,658,169 |
| Borrowings (non-current)$ (as reported) | 617,267 | 1,677,659 | 3,041,035 | 3,559,070 | 4,650,522 |
| Provisions (non-current)$ (as reported) | 483,706 | 483,706 | 601,167 | 693,899 | 693,899 |
| Total non-current liabilities$ (as reported) | 6,978,867 | 9,371,313 | 12,682,012 | 15,224,094 | 17,002,590 |
| Total liabilities$ (as reported) | 9,423,401 | 11,283,881 | 14,344,024 | 17,068,224 | 20,301,187 |
| Net assets$ (as reported) | 101,614,803 | 100,283,689 | 98,152,047 | 96,536,085 | 74,386,160 |
Each year uses its own annual-report current-year column. FY2022 borrowings are A$1,677,659 (borrowings row), not the identically valued FY2022 trade-payables pointer in the starting draft.
Source: Citigold annual reports FY2021–FY2025; current-year observations are preferred to later comparatives unless stated.
A$
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Unsecured – unrelated parties$ (as reported) | 423,994 | 759,311 | 1,059,417 | 945,306 | 1,377,260 |
| Unsecured – related parties$ (as reported) | 193,273 | 231,218 | 255,070 | 279,959 | 293,686 |
| Secured – unrelated parties$ (as reported) | Nil | 687,130 | 1,726,548 | 2,333,805 | 2,979,576 |
| Total non-current borrowings$ (as reported) | 617,267 | 1,677,659 | 3,041,035 | 3,559,070 | 4,650,522 |
Source: Citigold annual reports FY2021–FY2025; current-year observations are preferred to later comparatives unless stated.
The group used cash in operations and exploration, evaluation and development in every period shown. Financing proceeds include share issues, loans and gold pre-sales; the latter are funding cash receipts, not current gold-sales revenue. The FY2025 reconciliation distinguishes the non-cash impairment add-back from operating cash payments.
A$
AI-generated presentation · values from Consolidated cash flows; no missing values plotted as zero.
A$
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Receipts from customers | 150,016 | 4,126 | Nil | Nil | Nil |
| Interest received | 503 | Nil | Nil | Nil | Nil |
| Payments to suppliers and personnel | -1,472,677 | -1,581,305 | -1,870,122 | -1,084,464 | -715,873 |
| Interest and other costs of finance paid | -26,370 | -2,775 | Nil | Nil | -1,292 |
| Net cash (used in) / provided by operating activities | -1,348,528 | -1,579,954 | -1,870,122 | -1,084,464 | -717,165 |
| Exploration, Evaluation and Development | -567,645 | -201,872 | -209,697 | -316,552 | -372,180 |
| Payments for PPE | -4,000 | Nil | Nil | Nil | Nil |
| Security Deposits | Not separately presented | Not separately presented | Not separately presented | Not separately presented | -7,500 |
| Net cash (used in) / provided by investing activities | -571,645 | -201,872 | -209,697 | -316,552 | -379,680 |
| Proceeds from issues of equity securities | 2,001,417 | 562,000 | 200,000 | 694,875 | Nil |
| Proceeds from borrowings | 560,000 | 1,172,750 | 1,082,000 | 1,007,000 | 820,000 |
| Repayment of borrowings | -225,000 | -280,000 | -100,000 | -934,875 | -264,000 |
| Proceeds from pre-sales (gold) | Nil | 120,000 | 892,500 | 635,452 | 769,200 |
| Net cash provided by / (used in) financing activities | 2,336,417 | 1,574,750 | 2,074,500 | 1,402,452 | 1,325,200 |
| Net increase / (decrease) in cash and cash equivalents | 416,244 | -207,076 | -5,319 | 1,436 | 228,355 |
| Cash and cash equivalents at end of the financial year | 432,029 | 224,953 | 219,634 | 221,070 | 449,425 |
Payments for PPE are investing cash flows, separate from closing property, plant and equipment assets.
FY2024 security deposits are a blank comparative cell in the FY2025 statement, not a nil amount.
Security deposits were first shown as a separate FY2025 investing line in the selected schedules; the FY2024 comparative is blank. Earlier years are marked not separately presented rather than zero.
Source: Citigold annual reports FY2021–FY2025; current-year observations are preferred to later comparatives unless stated.
A$
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| (Loss) / Profit for the year | -1,416,157 | -1,893,114 | -2,331,642 | -2,310,837 | -22,149,925 |
| Impairment, Depreciation and Amortisation (net of write-back on assets sold) | 86,014 | 73,566 | 58,608 | 34,617 | 20,027,667 |
| (Increase) / decrease in Trade and other receivables | -30,779 | 83,152 | Nil | 170,669 | 122,249 |
| (Increase) / decrease in inventories | Nil | Nil | Nil | Nil | Nil |
| (Decrease) / increase in trade, financing costs and other payables | 283,280 | 156,442 | 285,452 | 928,355 | 1,252,844 |
| Increase / (decrease) in Employee provisions | -270,886 | Nil | Included in combined line | Included in combined line | Included in combined line |
| Provision movement (employee-specific through FY2022; generic thereafter) | (270,886) | 0 (nil) | 117,460 | 92,732 | 30,000 |
| Net Cash (used in) / provided by operating activities (reconciled subtotal) | -1,348,528 | -1,579,954 | -1,870,122 | -1,084,464 | -717,165 |
FY2025 non-cash impairment, depreciation and amortisation net of write-back is the issuer's combined reconciliation line; it is not an additional cash cost.
Provision disclosure changes after FY2022. FY2021–FY2022 show an employee-provision adjustment; FY2023–FY2025 show a generic provision adjustment without an employee breakdown. The broad provision row repeats the FY2021–FY2022 employee line for comparison and must not be added to the employee row.
Source: Citigold annual reports FY2021–FY2025; current-year observations are preferred to later comparatives unless stated.
Citigold did not declare dividends in the five annual periods. The share count reached three billion by 30 June 2024 and remained there at 30 June 2025; FY2025 equity declined with the statutory loss. No return of capital is inferred from a missing buy-back row.
A$
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Issued capitalAUD | 219,331,455 | 219,893,455 | 220,093,455 | 220,788,330 | 220,788,330 |
| Asset revaluation reserveAUD | 37,851,949 | 37,851,949 | 37,851,949 | 37,851,949 | 37,851,949 |
| Capital profits reserveAUD | 571,430 | 571,430 | 571,430 | 571,430 | 571,430 |
| Share-based payments reserveAUD | 834,163 | 834,163 | 834,163 | 834,163 | 834,163 |
| Accumulated lossesAUD | -156,985,079 | -158,878,193 | -161,209,835 | -163,520,672 | -185,670,597 |
| Equity attributable to owners of parentAUD | 101,603,918 | 100,272,804 | 98,141,162 | 96,525,200 | 74,375,275 |
| Non-controlling interestAUD | 10,885 | 10,885 | 10,885 | 10,885 | 10,885 |
| Total equityAUD | 101,614,803 | 100,283,689 | 98,152,047 | 96,536,085 | 74,386,160 |
The FY2025 accumulated-loss note differs by A$1 from the primary statement; the primary statement's A$(185,670,596) is used for the balance-sheet row, while this note row retains its original A$(185,670,597) value.
Source: Citigold annual reports FY2021–FY2025; current-year observations are preferred to later comparatives unless stated.
The resource and reserve figures are repeated estimates based on the 2020 Mineral Resources and Ore Reserves report. The FY2025 annual report says no production or infill drilling occurred during the year and that material assumptions remained unchanged. Probable reserves are included within indicated resources, so their ounces are not additive.
Mixed: tonnes; g/t Au; ounces
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Inferred Mineral Resources – tonnestonnes | 32,000,000 | 32,000,000 | 32,000,000 | 32,000,000 | 32,000,000 |
| Inferred Mineral Resources – gradeg/t Au | 14 | 14 | 14 | 14 | 14 |
| Inferred Mineral Resources – cut-off gradeg/t Au | 3 | 3 | 3 | 3 | 3 |
| Inferred Mineral Resources – contained ouncescontained ounces | 14,000,000 | 14,000,000 | 14,000,000 | 14,000,000 | 14,000,000 |
| Indicated Mineral Resources (incl. Probable Reserves) – tonnestonnes | 3,200,000 | 3,200,000 | 3,200,000 | 3,200,000 | 3,200,000 |
| Indicated Mineral Resources (incl. Probable Reserves) – gradeg/t Au | 7.7 | 7.7 | 7.7 | 7.7 | 7.7 |
| Indicated Mineral Resources (incl. Probable Reserves) – cut-off gradeg/t Au | 4 | 4 | 4 | 4 | 4 |
| Indicated Mineral Resources (incl. Probable Reserves) – contained ouncescontained ounces | 780,000 | 780,000 | 780,000 | 780,000 | 780,000 |
| Probable Ore Reserves – tonnestonnes | 2,500,000 | 2,500,000 | 2,500,000 | 2,500,000 | 2,500,000 |
| Probable Ore Reserves – gradeg/t Au | 7.7 | 7.7 | 7.7 | 7.7 | 7.7 |
| Probable Ore Reserves – cut-off gradeg/t Au | 4 | 4 | 4 | 4 | 4 |
| Probable Ore Reserves – contained ouncescontained ounces | 620,000 | 620,000 | 620,000 | 620,000 | 620,000 |
The FY2021–FY2025 reports repeat the 2020 Mineral Resources and Ore Reserves estimate. Indicated resources include probable reserves; they must not be added together.
These are resource and reserve estimates, not annual production or sales.
Source: Citigold annual reports FY2021–FY2025; current-year observations are preferred to later comparatives unless stated.
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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