FY2021
Paterson acquisition
In March 2021 Cyprium acquired Paterson Copper and raised A$90m in equity. The Nifty resource update was released in November 2021.
ASX: CYM · Five-year financial review
Cyprium Metals Limited (ASX: CYM) - Five-Year Financial Review FY2021-FY2025
Cyprium's five selected annual reports cover three December years, a six-month transition to June 2024, and a twelve-month June 2025 year. The tables use A$ thousands for statutory amounts and keep cash flows separate from balance-date assets and liabilities. Flow comparisons across FY2024 require the six-month qualification.
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 statutory loss
A$26.4m
12 months to 30 June 2025; FY2024 covers six months.
FY2025 cash
A$13.7m
Cash and cash equivalents at 30 June 2025.
FY2025 operating cash use
A$23.6m
Net operating outflow for 12 months.
FY2025 borrowings
A$41.3m
Non-current borrowings, excluding convertible notes and leases.
Five years in context
The period begins with the March 2021 Paterson Copper acquisition and a A$90m equity raising and ends with Cyprium focused on the Nifty restart. Cyprium remained loss-making in each selected statement and relied on share issuance and borrowing for funding. The cash-flow and capital tables show the financing sources alongside project and operating outflows.
The company changed its financial year end from 31 December to 30 June on 26 June 2024. FY2024 therefore covers only 1 January to 30 June 2024; FY2025 returns to twelve months. The FY2025 loss and operating cash outflow are consequently not equal-duration comparisons with FY2024. Balance-sheet columns remain point-in-time snapshots at their actual dates.
Events behind the numbers
FY2022
Restart study and funding search
The Nifty Restart Study was completed in March 2022; the company also completed a July–August capital raise while debt funding work continued.
FY2023
Recapitalisation
After the proposed bond issue and related placement failed to proceed, Cyprium was suspended for much of 2023 and completed a September placement and entitlement offer.
FY2024
Six-month transition
The June year-end produced a six-month report. A Glencore strategic partnership was announced after the 30 June balance date, on 26 July 2024, so it is an event after this period.
FY2025
Meekatharra sale and Nifty funding
Cyprium announced the Meekatharra disposal in February 2025. An approximately A$74m placement plus A$6m entitlement issue was announced after the 30 June balance date, in August 2025; these proceeds are not FY2025 closing cash.
FINANCIAL REVIEW / 01
Statutory performance
The FY2025 twelve-month loss includes financing, note-amendment, tenement-sale and exploration write-down lines that are separately visible in that year's statement. The FY2024 six-month period and changes in line-item presentation limit a simple year-over-year expense comparison.
Statutory net loss by reporting period
A$'000
Net loss from continuing operations
AI-generated presentation · values from Continuing operations: statutory profit or loss; no missing values plotted as zero.
Continuing operations: statutory profit or loss
A$'000
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Interest income | 139 | 183 | 374 | 436 | 455 |
| Other income | 24 | 0 (nil) | 1,822 | 164 | 2,148 |
| Employee expenses | (8,233) | (11,859) | (5,438) | (3,198) | (5,572) |
| Management and administrative expenses | (3,591) | (3,360) | (10,280) | (5,495) | (12,191) |
| Travel and accommodation, separately stated | (3,469) | (3,493) | Not separately presented | Not separately presented | Not separately presented |
| Power and gas, separately stated | (2,564) | (2,254) | Not separately presented | Not separately presented | Not separately presented |
| Corporate advisory and consulting, separately stated | (2,332) | (1,480) | Not separately presented | Not separately presented | Not separately presented |
| Repairs and maintenance, separately stated | (1,628) | (1,759) | Not separately presented | Not separately presented | Not separately presented |
| Acquisition costs, separately stated | (152) | 0 (nil) | Not separately presented | Not separately presented | Not separately presented |
| Share-based payments | (3,907) | (3,216) | (553) | (1,042) | (180) |
| Depreciation and amortisation | (1,522) | (1,662) | (1,522) | (674) | (1,205) |
| Interest and finance charges, including separately stated lease interest | (22) | (49) | (1,654) | (1,059) | (5,008) |
| Amortisation of arrangement fees | Not separately presented | Not separately presented | (2,538) | (906) | (1,577) |
| Foreign exchange gain/(loss) | Not separately presented | Not separately presented | 221 | (814) | (650) |
| Fair value gains/(losses) | Not separately presented | Not separately presented | Not separately presented | Not separately presented | 3,070 |
| Loss on convertible note amendment | Not separately presented | Not separately presented | Not separately presented | Not separately presented | (724) |
| Loss on sale of exploration tenements | Not separately presented | Not separately presented | Not separately presented | Not separately presented | (3,278) |
| Exploration expenditure write-down | Not separately presented | Not separately presented | Not separately presented | Not separately presented | (1,710) |
| Loss before income tax | (27,257) | (28,949) | (19,568) | (12,588) | (26,422) |
| Income tax benefit | 585 | 1,475 | 0 (nil) | 0 (nil) | 0 (nil) |
| Net loss from continuing operations | (26,672) | (27,474) | (19,568) | (12,588) | (26,422) |
| Other comprehensive income | 0 (nil) | 0 (nil) | 0 (nil) | 0 (nil) | 0 (nil) |
| Total comprehensive loss | (26,672) | (27,474) | (19,568) | (12,588) | (26,422) |
FY2024 covers only 1 January–30 June 2024. Its amounts should not be compared as an equal-length annual run rate with the surrounding 12-month periods.
N/S means the expense was not separately presented in that year's selected statement, not that the issuer incurred none. FY2023–FY2025 statements aggregate several expenses that FY2021–FY2022 separated.
FY2024 finance expense is shown at the FY2025 report's later comparative total of 1,059, which combines the original FY2024 interest/finance charge of 1,017 and lease interest of 42. FY2023 is the sum of 1,486 and 168; FY2021–FY2022 separately stated lease interest is the only finance item in those selected statement lines.
Basis and presentation notes (45)
- Other income / FY2022 — 0 (nil): R001169 is a reported-nil observation of this specific FY2022 line, unit and statement basis.
- Travel and accommodation, separately stated / FY2023 — Not separately presented: The selected FY2023 income statement 01a066f3-c2bb-73f9-b1fd-d460e44e654b does not separately state 'Travel and accommodation, separately stated'; no zero or offset within another line is assumed. Earlier separately stated expense categories were subsequently aggregated; comparability is broken.
- Travel and accommodation, separately stated / FY2024 — Not separately presented: The selected FY2024 income statement 01a066ee-1b72-70e8-91f2-c90c5b3d5d83 does not separately state 'Travel and accommodation, separately stated'; no zero or offset within another line is assumed. Earlier separately stated expense categories were subsequently aggregated; comparability is broken.
- Travel and accommodation, separately stated / FY2025 — Not separately presented: The selected FY2025 income statement 01a066f4-655c-7e96-b8ba-46bc0518359d does not separately state 'Travel and accommodation, separately stated'; no zero or offset within another line is assumed. Earlier separately stated expense categories were subsequently aggregated; comparability is broken.
- Power and gas, separately stated / FY2023 — Not separately presented: The selected FY2023 income statement 01a066f3-c2bb-73f9-b1fd-d460e44e654b does not separately state 'Power and gas, separately stated'; no zero or offset within another line is assumed. Earlier separately stated expense categories were subsequently aggregated; comparability is broken.
- Power and gas, separately stated / FY2024 — Not separately presented: The selected FY2024 income statement 01a066ee-1b72-70e8-91f2-c90c5b3d5d83 does not separately state 'Power and gas, separately stated'; no zero or offset within another line is assumed. Earlier separately stated expense categories were subsequently aggregated; comparability is broken.
- Power and gas, separately stated / FY2025 — Not separately presented: The selected FY2025 income statement 01a066f4-655c-7e96-b8ba-46bc0518359d does not separately state 'Power and gas, separately stated'; no zero or offset within another line is assumed. Earlier separately stated expense categories were subsequently aggregated; comparability is broken.
- Corporate advisory and consulting, separately stated / FY2023 — Not separately presented: The selected FY2023 income statement 01a066f3-c2bb-73f9-b1fd-d460e44e654b does not separately state 'Corporate advisory and consulting, separately stated'; no zero or offset within another line is assumed. Earlier separately stated expense categories were subsequently aggregated; comparability is broken.
- Corporate advisory and consulting, separately stated / FY2024 — Not separately presented: The selected FY2024 income statement 01a066ee-1b72-70e8-91f2-c90c5b3d5d83 does not separately state 'Corporate advisory and consulting, separately stated'; no zero or offset within another line is assumed. Earlier separately stated expense categories were subsequently aggregated; comparability is broken.
- Corporate advisory and consulting, separately stated / FY2025 — Not separately presented: The selected FY2025 income statement 01a066f4-655c-7e96-b8ba-46bc0518359d does not separately state 'Corporate advisory and consulting, separately stated'; no zero or offset within another line is assumed. Earlier separately stated expense categories were subsequently aggregated; comparability is broken.
- Repairs and maintenance, separately stated / FY2023 — Not separately presented: The selected FY2023 income statement 01a066f3-c2bb-73f9-b1fd-d460e44e654b does not separately state 'Repairs and maintenance, separately stated'; no zero or offset within another line is assumed. Earlier separately stated expense categories were subsequently aggregated; comparability is broken.
- Repairs and maintenance, separately stated / FY2024 — Not separately presented: The selected FY2024 income statement 01a066ee-1b72-70e8-91f2-c90c5b3d5d83 does not separately state 'Repairs and maintenance, separately stated'; no zero or offset within another line is assumed. Earlier separately stated expense categories were subsequently aggregated; comparability is broken.
- Repairs and maintenance, separately stated / FY2025 — Not separately presented: The selected FY2025 income statement 01a066f4-655c-7e96-b8ba-46bc0518359d does not separately state 'Repairs and maintenance, separately stated'; no zero or offset within another line is assumed. Earlier separately stated expense categories were subsequently aggregated; comparability is broken.
- Acquisition costs, separately stated / FY2022 — 0 (nil): R001187 is a reported-nil observation of this specific FY2022 line, unit and statement basis.
- Acquisition costs, separately stated / FY2023 — Not separately presented: The selected FY2023 income statement 01a066f3-c2bb-73f9-b1fd-d460e44e654b does not separately state 'Acquisition costs, separately stated'; no zero or offset within another line is assumed. Earlier separately stated expense categories were subsequently aggregated; comparability is broken.
- Acquisition costs, separately stated / FY2024 — Not separately presented: The selected FY2024 income statement 01a066ee-1b72-70e8-91f2-c90c5b3d5d83 does not separately state 'Acquisition costs, separately stated'; no zero or offset within another line is assumed. Earlier separately stated expense categories were subsequently aggregated; comparability is broken.
- Acquisition costs, separately stated / FY2025 — Not separately presented: The selected FY2025 income statement 01a066f4-655c-7e96-b8ba-46bc0518359d does not separately state 'Acquisition costs, separately stated'; no zero or offset within another line is assumed. Earlier separately stated expense categories were subsequently aggregated; comparability is broken.
- Amortisation of arrangement fees / FY2021 — Not separately presented: The selected FY2021 income statement 01a066ef-9dab-72da-8ac5-a977c55b504a does not separately state 'Amortisation of arrangement fees'; no zero or offset within another line is assumed.
- Amortisation of arrangement fees / FY2022 — Not separately presented: The selected FY2022 income statement 01a066ea-88a4-7a9c-abbe-a9c4a3cdef8b does not separately state 'Amortisation of arrangement fees'; no zero or offset within another line is assumed.
- Foreign exchange gain/(loss) / FY2021 — Not separately presented: The selected FY2021 income statement 01a066ef-9dab-72da-8ac5-a977c55b504a does not separately state 'Foreign exchange gain/(loss)'; no zero or offset within another line is assumed.
- Foreign exchange gain/(loss) / FY2022 — Not separately presented: The selected FY2022 income statement 01a066ea-88a4-7a9c-abbe-a9c4a3cdef8b does not separately state 'Foreign exchange gain/(loss)'; no zero or offset within another line is assumed.
- Fair value gains/(losses) / FY2021 — Not separately presented: The selected FY2021 income statement 01a066ef-9dab-72da-8ac5-a977c55b504a does not separately state 'Fair value gains/(losses)'; no zero or offset within another line is assumed.
- Fair value gains/(losses) / FY2022 — Not separately presented: The selected FY2022 income statement 01a066ea-88a4-7a9c-abbe-a9c4a3cdef8b does not separately state 'Fair value gains/(losses)'; no zero or offset within another line is assumed.
- Fair value gains/(losses) / FY2023 — Not separately presented: The selected FY2023 income statement 01a066f3-c2bb-73f9-b1fd-d460e44e654b does not separately state 'Fair value gains/(losses)'; no zero or offset within another line is assumed.
- Fair value gains/(losses) / FY2024 — Not separately presented: DB-0518359d-011-FY2024 is a dash in FY2025's six-month FY2024 comparative, while the original FY2024 current-year statement did not separately present this line; a numeric zero is not inferred from that later dash.
- Loss on convertible note amendment / FY2021 — Not separately presented: The selected FY2021 income statement 01a066ef-9dab-72da-8ac5-a977c55b504a does not separately state 'Loss on convertible note amendment'; no zero or offset within another line is assumed.
- Loss on convertible note amendment / FY2022 — Not separately presented: The selected FY2022 income statement 01a066ea-88a4-7a9c-abbe-a9c4a3cdef8b does not separately state 'Loss on convertible note amendment'; no zero or offset within another line is assumed.
- Loss on convertible note amendment / FY2023 — Not separately presented: The selected FY2023 income statement 01a066f3-c2bb-73f9-b1fd-d460e44e654b does not separately state 'Loss on convertible note amendment'; no zero or offset within another line is assumed.
- Loss on convertible note amendment / FY2024 — Not separately presented: DB-0518359d-012-FY2024 is a dash in FY2025's six-month FY2024 comparative, while the original FY2024 current-year statement did not separately present this line; a numeric zero is not inferred from that later dash.
- Loss on sale of exploration tenements / FY2021 — Not separately presented: The selected FY2021 income statement 01a066ef-9dab-72da-8ac5-a977c55b504a does not separately state 'Loss on sale of exploration tenements'; no zero or offset within another line is assumed.
- Loss on sale of exploration tenements / FY2022 — Not separately presented: The selected FY2022 income statement 01a066ea-88a4-7a9c-abbe-a9c4a3cdef8b does not separately state 'Loss on sale of exploration tenements'; no zero or offset within another line is assumed.
- Loss on sale of exploration tenements / FY2023 — Not separately presented: The selected FY2023 income statement 01a066f3-c2bb-73f9-b1fd-d460e44e654b does not separately state 'Loss on sale of exploration tenements'; no zero or offset within another line is assumed.
- Loss on sale of exploration tenements / FY2024 — Not separately presented: DB-0518359d-015-FY2024 is a dash in FY2025's six-month FY2024 comparative, while the original FY2024 current-year statement did not separately present this line; a numeric zero is not inferred from that later dash.
- Exploration expenditure write-down / FY2021 — Not separately presented: The selected FY2021 income statement 01a066ef-9dab-72da-8ac5-a977c55b504a does not separately state 'Exploration expenditure write-down'; no zero or offset within another line is assumed.
- Exploration expenditure write-down / FY2022 — Not separately presented: The selected FY2022 income statement 01a066ea-88a4-7a9c-abbe-a9c4a3cdef8b does not separately state 'Exploration expenditure write-down'; no zero or offset within another line is assumed.
- Exploration expenditure write-down / FY2023 — Not separately presented: The selected FY2023 income statement 01a066f3-c2bb-73f9-b1fd-d460e44e654b does not separately state 'Exploration expenditure write-down'; no zero or offset within another line is assumed.
- Exploration expenditure write-down / FY2024 — Not separately presented: DB-0518359d-016-FY2024 is a dash in FY2025's six-month FY2024 comparative, while the original FY2024 current-year statement did not separately present this line; a numeric zero is not inferred from that later dash.
- Income tax benefit / FY2023 — 0 (nil): R002068 is a reported-nil observation of this specific FY2023 line, unit and statement basis.
- Income tax benefit / FY2024 — 0 (nil): R002833 is a reported-nil observation of this specific FY2024 line, unit and statement basis.
- Income tax benefit / FY2025 — 0 (nil): The named FY2025 line is a dash in R003267; its same-statement result bridge is zero (CALC-CYM-TAX-FY2025-NIL).
- Other comprehensive income / FY2021 — 0 (nil): R000384 is a reported-nil observation of this specific FY2021 line, unit and statement basis.
- Other comprehensive income / FY2022 — 0 (nil): R001197 is a reported-nil observation of this specific FY2022 line, unit and statement basis.
- Other comprehensive income / FY2023 — 0 (nil): R002072 is a reported-nil observation of this specific FY2023 line, unit and statement basis.
- Other comprehensive income / FY2024 — 0 (nil): R002837 is a reported-nil observation of this specific FY2024 line, unit and statement basis.
- Other comprehensive income / FY2025 — 0 (nil): The named FY2025 line is a dash in R003268; its same-statement result bridge is zero (CALC-CYM-OCI-FY2025-NIL).
Source: Cyprium annual reports, current-year annual statement records unless a note specifies a later comparative or calculation.
Basic loss per share
cents per share
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Basic loss per share | (5.98) | (4.29) | (2.01) | (0.83) | (1.50) |
The FY2024 column is a six-month result. Per-share amounts also reflect changing weighted-average shares and are not an equal-duration trend.
Source: Cyprium annual reports, current-year annual statement records unless a note specifies a later comparative or calculation.
FINANCIAL REVIEW / 02
Assets, liabilities and equity
At 30 June 2025, current borrowings and convertible notes were presented as nil while non-current borrowings and notes were shown separately. The classification differs from the 30 June 2024 balance sheet and should be read with the liability rows, not as a disappearance of funding obligations.
Cash at each balance date
A$'000
Cash and cash equivalents
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
A$'000
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 25,474 | 1,694 | 22,591 | 7,325 | 13,658 |
| Receivables | 1,073 | 459 | 100 | 306 | 345 |
| Inventories | 6,951 | 6,606 | 6,442 | 6,467 | 6,140 |
| Financial assets at fair value | Not separately presented | Not separately presented | Not separately presented | 0 (nil) | 780 |
| Other current assets | 1,429 | 1,375 | 974 | 1,041 | 177 |
| Total current assets | 34,927 | 10,134 | 30,107 | 15,139 | 21,100 |
| Right-of-use asset | 484 | 236 | 963 | 768 | 609 |
| Property, plant and equipment | 102,789 | 105,282 | 111,416 | 115,444 | 126,982 |
| Deferred exploration and evaluation | 28,763 | 31,995 | 33,364 | 34,632 | 30,642 |
| Security deposits / other non-current financial assets | 6,949 | 6,855 | 7,079 | 7,079 | 7,107 |
| Total non-current assets | 138,985 | 144,368 | 152,822 | 157,923 | 165,340 |
| Total assets | 173,912 | 154,502 | 182,929 | 173,062 | 186,440 |
| Trade and other payables | 13,948 | 6,190 | 4,363 | 5,952 | 3,774 |
| Deferred revenue | Not separately presented | Not separately presented | Not separately presented | 0 (nil) | 2,475 |
| Current lease liabilities | 301 | 341 | 465 | 418 | 577 |
| Current borrowings | 0 (nil) | 0 (nil) | 14,296 | 16,016 | 0 (nil) |
| Current convertible notes | 0 (nil) | 0 (nil) | 0 (nil) | 34,431 | 0 (nil) |
| Total current liabilities | 14,249 | 6,531 | 19,124 | 56,817 | 6,826 |
| Non-current lease liabilities | 255 | 710 | 1,200 | 1,005 | 561 |
| Non-current borrowings | 0 (nil) | 0 (nil) | 0 (nil) | 0 (nil) | 41,347 |
| Non-current convertible notes | 29,705 | 31,700 | 33,935 | 0 (nil) | 17,919 |
| Non-current provisions | 42,381 | 35,181 | 36,345 | 34,461 | 34,337 |
| Total non-current liabilities | 72,341 | 67,591 | 71,480 | 35,466 | 94,164 |
| Total liabilities | 86,590 | 74,122 | 90,604 | 92,283 | 100,990 |
| Net assets / total equity | 87,322 | 80,380 | 92,325 | 80,779 | 85,450 |
Columns are balance-date snapshots: 31 December 2021, 2022 and 2023, then 30 June 2024 and 2025. A balance does not represent a six-month flow.
The 2025 statement names the 7,107 non-current balance as security deposits; earlier statements use other non-current financial assets. The FY2025 statement shows the 2024 comparative as 7,079.
Convertible notes move from non-current to current in FY2024 and back to non-current in FY2025; the separate rows retain that classification change. 'nil' denotes a source-supported zero/dash or a total reconciliation, while N/S means the line is not separately disclosed.
A displayed nil balance is supported by a matching reported-nil line or a same-date subsection residual, with exact calculation locators in evidence. Earlier convertible-note liabilities were non-current; FY2024 moved to current and FY2025 moved back to non-current.
Basis and presentation notes (20)
- Financial assets at fair value / FY2021 — Not separately presented: The selected FY2021 balance statement 01a066ef-9dbe-7fef-a3a9-177ffb5459e0 does not separately state 'Financial assets at fair value'; no zero or offset within another line is assumed.
- Financial assets at fair value / FY2022 — Not separately presented: The selected FY2022 balance statement 01a066ea-88ab-7ee3-ae15-c50c0cd1bb8a does not separately state 'Financial assets at fair value'; no zero or offset within another line is assumed.
- Financial assets at fair value / FY2023 — Not separately presented: The selected FY2023 balance statement 01a066f3-c2c0-7290-8e87-42dd137143b5 does not separately state 'Financial assets at fair value'; no zero or offset within another line is assumed.
- Financial assets at fair value / FY2024 — 0 (nil): The FY2024 subsection total less its other named amounts is zero (CALC-CYM-BAL-fair_asset-FY2024-NIL); the liability/asset classification and any direct dash/nil source refs are retained.
- Deferred revenue / FY2021 — Not separately presented: The selected FY2021 balance statement 01a066ef-9dbe-7fef-a3a9-177ffb5459e0 does not separately state 'Deferred revenue'; no zero or offset within another line is assumed.
- Deferred revenue / FY2022 — Not separately presented: The selected FY2022 balance statement 01a066ea-88ab-7ee3-ae15-c50c0cd1bb8a does not separately state 'Deferred revenue'; no zero or offset within another line is assumed.
- Deferred revenue / FY2023 — Not separately presented: The selected FY2023 balance statement 01a066f3-c2c0-7290-8e87-42dd137143b5 does not separately state 'Deferred revenue'; no zero or offset within another line is assumed.
- Deferred revenue / FY2024 — 0 (nil): The FY2024 subsection total less its other named amounts is zero (CALC-CYM-BAL-deferred_revenue-FY2024-NIL); the liability/asset classification and any direct dash/nil source refs are retained.
- Current borrowings / FY2021 — 0 (nil): The FY2021 subsection total less its other named amounts is zero (CALC-CYM-BAL-borrow_current-FY2021-NIL); the liability/asset classification and any direct dash/nil source refs are retained.
- Current borrowings / FY2022 — 0 (nil): The FY2022 subsection total less its other named amounts is zero (CALC-CYM-BAL-borrow_current-FY2022-NIL); the liability/asset classification and any direct dash/nil source refs are retained.
- Current borrowings / FY2025 — 0 (nil): The FY2025 subsection total less its other named amounts is zero (CALC-CYM-BAL-borrow_current-FY2025-NIL); the liability/asset classification and any direct dash/nil source refs are retained.
- Current convertible notes / FY2021 — 0 (nil): The FY2021 subsection total less its other named amounts is zero (CALC-CYM-BAL-notes_current-FY2021-NIL); the liability/asset classification and any direct dash/nil source refs are retained.
- Current convertible notes / FY2022 — 0 (nil): The FY2022 subsection total less its other named amounts is zero (CALC-CYM-BAL-notes_current-FY2022-NIL); the liability/asset classification and any direct dash/nil source refs are retained.
- Current convertible notes / FY2023 — 0 (nil): The FY2023 subsection total less its other named amounts is zero (CALC-CYM-BAL-notes_current-FY2023-NIL); the liability/asset classification and any direct dash/nil source refs are retained.
- Current convertible notes / FY2025 — 0 (nil): The FY2025 subsection total less its other named amounts is zero (CALC-CYM-BAL-notes_current-FY2025-NIL); the liability/asset classification and any direct dash/nil source refs are retained.
- Non-current borrowings / FY2021 — 0 (nil): The FY2021 subsection total less its other named amounts is zero (CALC-CYM-BAL-borrow_noncurrent-FY2021-NIL); the liability/asset classification and any direct dash/nil source refs are retained.
- Non-current borrowings / FY2022 — 0 (nil): The FY2022 subsection total less its other named amounts is zero (CALC-CYM-BAL-borrow_noncurrent-FY2022-NIL); the liability/asset classification and any direct dash/nil source refs are retained.
- Non-current borrowings / FY2023 — 0 (nil): The FY2023 subsection total less its other named amounts is zero (CALC-CYM-BAL-borrow_noncurrent-FY2023-NIL); the liability/asset classification and any direct dash/nil source refs are retained.
- Non-current borrowings / FY2024 — 0 (nil): The FY2024 subsection total less its other named amounts is zero (CALC-CYM-BAL-borrow_noncurrent-FY2024-NIL); the liability/asset classification and any direct dash/nil source refs are retained.
- Non-current convertible notes / FY2024 — 0 (nil): R002715 explicitly marks this FY2024 line nil in the matching annual statement/note.
Source: Cyprium annual reports, current-year annual statement records unless a note specifies a later comparative or calculation.
Consolidated equity components at balance date
A$'000
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Issued capital | 251,993 | 271,685 | 301,009 | 301,009 | 315,737 |
| Reserves | 8,321 | 6,086 | 6,685 | 7,727 | 8,107 |
| Convertible borrowings: equity component | 8,748 | 8,748 | 8,748 | 8,748 | 15,720 |
| Accumulated losses | (181,740) | (206,139) | (224,117) | (236,705) | (254,114) |
| Total equity | 87,322 | 80,380 | 92,325 | 80,779 | 85,450 |
The convertible notes amendment and derivative derecognition altered the equity component in FY2025; the increase is not operating profit.
Source: Cyprium annual reports, current-year annual statement records unless a note specifies a later comparative or calculation.
FINANCIAL REVIEW / 03
Cash flow and capital spending
Operating cash was used in all five reporting periods. The FY2025 statement moves asset-sale proceeds to investing activities, whereas the original FY2024 statement classified its A$164 thousand receipt in operating cash. The totals and detailed rows retain the original FY2024 basis and the current FY2025 basis with this break explained.
Operating cash flow by reporting period
A$'000
Net cash from operating activities
AI-generated presentation · values from Consolidated cash flow statement: reported activity totals; no missing values plotted as zero.
Consolidated cash flow statement: reported activity totals
A$'000
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Net cash from operating activities | (18,458) | (25,000) | (14,730) | (9,232) | (23,620) |
| Net cash from investing activities | (45,607) | (15,414) | (4,918) | (5,758) | (2,894) |
| Net cash from financing activities | 84,162 | 16,635 | 40,545 | (307) | 32,029 |
| Net change in cash before currency effect | 20,097 | (23,780) | 20,897 | (15,297) | 5,515 |
| Opening cash | 5,374 | 25,474 | 1,694 | 22,591 | 7,325 |
| Effect of exchange rates on cash | Not separately presented | Not separately presented | 0 (nil) | 31 | 818 |
| Closing cash per cash flow statement | 25,471 | 1,694 | 22,591 | 7,325 | 13,658 |
FY2024 is six months; all other columns are 12 months. Values are not annualised.
FY2024 uses its originally reported classification: 164 of asset-sale proceeds in operating cash flow (operating 9,232 outflow; investing 5,758 outflow). FY2025 later comparatives place this 164 in investing instead (operating 9,396 outflow; investing 5,594 outflow); combined operating plus investing cash is unchanged.
FY2025 financing is shown as +32,029 because the signed financing lines add to +32,029 and -23,620 - 2,894 + 32,029 = +5,515. The selected source table and extraction R003277 put parentheses around 32,029; this unresolved source contradiction is retained in the evidence and change log.
FY2021's originally extracted cash-flow ending cash is 25,471, while the balance sheet and FY2022 comparative show 25,474. The 3 difference remains unresolved in the selected source boundary; no invented reconciling item is shown.
FY2022 current-year activity subtotals sum to a 23,779 cash decrease, whereas the statement reports 23,780. The FY2023 report's comparative investing total is 15,415 outflow (one more than FY2022's 15,414), reflecting its 116 versus 117 asset-sale comparative; the report keeps FY2022 as originally extracted.
FY2023's unprinted cash currency effect is zero only as a same-statement closing/opening/net-change reconciliation; FY2021–FY2022 remain not separately presented rather than assuming nil from no line.
Basis and presentation notes (3)
- Effect of exchange rates on cash / FY2021 — Not separately presented: The selected FY2021 cash_summary statement 01a066ef-9de6-78a6-8aba-ff63d0909d1c does not separately state 'Effect of exchange rates on cash'; no zero or offset within another line is assumed.
- Effect of exchange rates on cash / FY2022 — Not separately presented: The selected FY2022 cash_summary statement 01a066ea-88ba-70a4-a23f-926f8a041f60 does not separately state 'Effect of exchange rates on cash'; no zero or offset within another line is assumed.
- Effect of exchange rates on cash / FY2023 — 0 (nil): The FY2023 cash reconciliation gives a zero currency-effect residual (CALC-CYM-CASH-FX-FY2023); this is a cash bridge, not an earnings FX amount.
Source: Cyprium annual reports, current-year annual statement records unless a note specifies a later comparative or calculation.
Operating cash flow: named receipts and payments
A$'000
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Payments to suppliers and employees | (19,838) | (25,282) | (13,920) | (7,333) | (17,599) |
| Interest paid on lease liabilities | (22) | (49) | (168) | (42) | (75) |
| Interest paid on convertible notes | 0 (nil) | (1,440) | (1,440) | (1,440) | (1,440) |
| Interest paid on borrowings | Not applicable | 0 (nil) | (1,398) | (1,017) | (4,933) |
| Interest received | 139 | 296 | 374 | 436 | 455 |
| Other operating income / asset-sale proceeds classified as operating | 24 | 0 (nil) | 1,822 | 164 | Included in investing cash flow |
| Research and development allowance received | 1,239 | 1,475 | 0 (nil) | Not separately presented | Not separately presented |
| Payments for / refund of security deposits classified as operating | Included in investing cash flow | Included in investing cash flow | Included in investing cash flow | Not separately presented | (28) |
| Net operating cash flow | (18,458) | (25,000) | (14,730) | (9,232) | (23,620) |
N/S is a line that the selected statement does not present separately; it is not an assumed zero. FY2025 asset-sale receipts are shown in investing activities, and the FY2024 original asset-sale receipt is in operating activities.
Security-deposit payments were classified in investing during FY2021–FY2023 and operating in FY2025. The corresponding alternate-classification cells are non-additive labels, not additional cash flows.
Basis and presentation notes (12)
- Interest paid on convertible notes / FY2021 — 0 (nil): R001212 is a reported-nil observation of this specific FY2021 line, unit and statement basis.
- Interest paid on borrowings / FY2021 — Not applicable: FY2021 has no loan borrowing balance or separately stated loan-interest cash flow; the separate convertible-note and lease-interest cash rows retain their different basis.
- Interest paid on borrowings / FY2022 — 0 (nil): R002085 is a reported-nil observation of this specific FY2022 line, unit and statement basis.
- Other operating income / asset-sale proceeds classified as operating / FY2022 — 0 (nil): R001215 is a reported-nil observation of this specific FY2022 line, unit and statement basis.
- Other operating income / asset-sale proceeds classified as operating / FY2025 — Included in investing cash flow: The FY2025 statement classifies A$5,615 thousand asset-sale proceeds in investing cash flow; none is duplicated in this operating-classification row.
- Research and development allowance received / FY2023 — 0 (nil): R002090 is a reported-nil observation of this specific FY2023 line, unit and statement basis.
- Research and development allowance received / FY2024 — Not separately presented: The selected FY2024 cash_operating statement 01a066ee-1b81-7010-99f4-95329fdce6d0 does not separately state 'Research and development allowance received'; no zero or offset within another line is assumed.
- Research and development allowance received / FY2025 — Not separately presented: The selected FY2025 cash_operating statement 01a066f4-656c-7c31-a5b8-b806873fefd5 does not separately state 'Research and development allowance received'; no zero or offset within another line is assumed.
- Payments for / refund of security deposits classified as operating / FY2021 — Included in investing cash flow: The FY2021 cash-flow statement places security-deposit cash in investing, not operating; retain the amount in that investing row only.
- Payments for / refund of security deposits classified as operating / FY2022 — Included in investing cash flow: The FY2022 cash-flow statement places security-deposit cash in investing, not operating; retain the amount in that investing row only.
- Payments for / refund of security deposits classified as operating / FY2023 — Included in investing cash flow: The FY2023 cash-flow statement places security-deposit cash in investing, not operating; retain the amount in that investing row only.
- Payments for / refund of security deposits classified as operating / FY2024 — Not separately presented: The selected FY2024 cash_operating statement 01a066ee-1b81-7010-99f4-95329fdce6d0 does not separately state 'Payments for / refund of security deposits classified as operating'; no zero or offset within another line is assumed.
Source: Cyprium annual reports, current-year annual statement records unless a note specifies a later comparative or calculation.
Investing cash flow: project, plant and exploration payments
A$'000
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Payment for plant and equipment | (9,282) | (11,377) | (3,294) | (4,474) | (6,374) |
| Acquisition of mineral projects | (24,350) | (300) | 0 (nil) | Not separately presented | Not separately presented |
| Payments for exploration expenditure | (5,150) | (3,948) | (1,400) | (1,284) | (2,135) |
| Proceeds from asset sales classified as investing | 0 (nil) | 117 | 0 (nil) | Included in operating cash flow | 5,615 |
| Security deposit payments / refunds classified as investing | (6,825) | 94 | (224) | 0 (nil) | Included in operating cash flow |
| Net investing cash flow | (45,607) | (15,414) | (4,918) | (5,758) | (2,894) |
Plant/equipment payments and exploration cash payments are period cash flows, not period-end PP&E or capitalised exploration assets. FY2025 disposal receipts move to this investing line; FY2024 original 164 proceeds are in operating cash flow.
The six-month FY2024 A$164 thousand asset-sale receipt is shown in the original operating cash-flow classification; FY2025 A$5,615 thousand is in investing. Do not add both classification rows.
Basis and presentation notes (8)
- Acquisition of mineral projects / FY2023 — 0 (nil): R002096 is a reported-nil observation of this specific FY2023 line, unit and statement basis.
- Acquisition of mineral projects / FY2024 — Not separately presented: The selected FY2024 cash_investing statement 01a066ee-1b81-7010-99f4-95329fdce6d0 does not separately state 'Acquisition of mineral projects'; no zero or offset within another line is assumed.
- Acquisition of mineral projects / FY2025 — Not separately presented: The selected FY2025 cash_investing statement 01a066f4-656c-7c31-a5b8-b806873fefd5 does not separately state 'Acquisition of mineral projects'; no zero or offset within another line is assumed.
- Proceeds from asset sales classified as investing / FY2021 — 0 (nil): R001228 is a reported-nil observation of this specific FY2021 line, unit and statement basis.
- Proceeds from asset sales classified as investing / FY2023 — 0 (nil): R002100 is a reported-nil observation of this specific FY2023 line, unit and statement basis.
- Proceeds from asset sales classified as investing / FY2024 — Included in operating cash flow: The original six-month FY2024 cash-flow statement classified A$164 thousand asset-sale proceeds in operating cash flow; do not duplicate them in investing.
- Security deposit payments / refunds classified as investing / FY2024 — 0 (nil): R002861 is a reported-nil observation of this specific FY2024 line, unit and statement basis.
- Security deposit payments / refunds classified as investing / FY2025 — Included in operating cash flow: The FY2025 cash-flow statement places the A$28 thousand security-deposit payment in operating cash flow, not the earlier investing classification.
Source: Cyprium annual reports, current-year annual statement records unless a note specifies a later comparative or calculation.
FINANCIAL REVIEW / 04
Financing and shareholder capital
Equity and debt cash flows are shown separately from closing liability balances. The selected FY2025 cash table has a sign conflict in its financing subtotal; the report shows the +A$32.029m sum of the signed components, which also reconciles to the reported A$5.515m net cash increase. The original conflicting source row remains visible in the evidence.
Net financing cash flow
A$'000
Net financing cash flow
AI-generated presentation · values from Financing cash flow: equity, borrowing and lease lines; no missing values plotted as zero.
Financing cash flow: equity, borrowing and lease lines
A$'000
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Proceeds from shares issued | 90,000 | 17,926 | 31,619 | 0 (nil) | 15,057 |
| Proceeds from loans | Not applicable | 0 (nil) | 21,450 | 0 (nil) | 45,247 |
| Loan repayments | Not applicable | 0 (nil) | (6,859) | 0 (nil) | (21,875) |
| Loan issue costs paid | Not applicable | 0 (nil) | (3,016) | 0 (nil) | (5,546) |
| Share issue costs paid | (5,564) | (1,117) | (2,270) | 0 (nil) | (330) |
| Lease liability principal repayments | (274) | (174) | (379) | (307) | (524) |
| Net financing cash flow | 84,162 | 16,635 | 40,545 | (307) | 32,029 |
The FY2025 selected table prints the financing total as (32,029), but its six signed components sum to +32,029. The disclosed net cash increase of 5,515 also requires +32,029. This author correction is a disclosed calculation, pending independent review.
FY2025 5,546 cash issue costs are different from the 546 capitalised arrangement-fee movement in the borrowings note.
FY2022 loan proceeds, repayments and issue costs are reported nil in the FY2023 comparative cash statement. The corresponding FY2021 loan-event rows are not applicable; no cash-flow zero is inferred from an absent line alone.
Basis and presentation notes (11)
- Proceeds from shares issued / FY2024 — 0 (nil): R002865 is a reported-nil observation of this specific FY2024 line, unit and statement basis.
- Proceeds from loans / FY2021 — Not applicable: These distinct loan drawdown/repayment/issue-cost cash flows begin in later periods; FY2021 financing comprises share and lease cash flows, and no loan borrowing balance is reported at the FY2021 balance date.
- Proceeds from loans / FY2022 — 0 (nil): R002109 explicitly marks this FY2022 line nil in the matching annual statement/note.
- Proceeds from loans / FY2024 — 0 (nil): R002867 is a reported-nil observation of this specific FY2024 line, unit and statement basis.
- Loan repayments / FY2021 — Not applicable: These distinct loan drawdown/repayment/issue-cost cash flows begin in later periods; FY2021 financing comprises share and lease cash flows, and no loan borrowing balance is reported at the FY2021 balance date.
- Loan repayments / FY2022 — 0 (nil): R002111 explicitly marks this FY2022 line nil in the matching annual statement/note.
- Loan repayments / FY2024 — 0 (nil): R002869 is a reported-nil observation of this specific FY2024 line, unit and statement basis.
- Loan issue costs paid / FY2021 — Not applicable: These distinct loan drawdown/repayment/issue-cost cash flows begin in later periods; FY2021 financing comprises share and lease cash flows, and no loan borrowing balance is reported at the FY2021 balance date.
- Loan issue costs paid / FY2022 — 0 (nil): R002113 explicitly marks this FY2022 line nil in the matching annual statement/note.
- Loan issue costs paid / FY2024 — 0 (nil): R002871 is a reported-nil observation of this specific FY2024 line, unit and statement basis.
- Share issue costs paid / FY2024 — 0 (nil): R002873 is a reported-nil observation of this specific FY2024 line, unit and statement basis.
Source: Cyprium annual reports, current-year annual statement records unless a note specifies a later comparative or calculation.
Funding and shareholder position at balance date
A$'000
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 25,474 | 1,694 | 22,591 | 7,325 | 13,658 |
| Borrowings, current plus non-current | 0 (nil) | 0 (nil) | 14,296 | 16,016 | 41,347 |
| Convertible notes liability, current plus non-current | 29,705 | 31,700 | 33,935 | 34,431 | 17,919 |
| Ordinary shares on issueshares | 564,819,214 | 730,198,300 | 1,524,712,325 | 1,524,712,325 | 2,063,726,627 |
| Dividends paid or declaredstatement | None paid or declared | None paid or declared | None paid or declared | None paid or declared | None paid or declared |
Borrowings exclude convertible notes and leases. This table does not label cash less borrowings as a comprehensive net-debt measure.
Closing ordinary-share counts are exact balance-date share numbers: FY2021–FY2023 come from the FY2023 share-capital movement note and its comparatives, FY2024 from the six-month transition note, and FY2025 from its own note. They are not EPS weighted-average shares or issued-capital A$ amounts.
The dividend row records issuer statements of no dividend paid or declared. It does not imply a general prohibition on future distributions.
The FY2021–FY2024 share-count gaps were resolved by fresh selected share-capital note tables; later comparatives are assigned to their underlying balance dates. No-dividend statements remain qualitative, not A$'000 amounts.
Basis and presentation notes (7)
- Borrowings, current plus non-current / FY2021 — 0 (nil): The matching current and non-current borrowing rows are both nil; CALC-CYM-BORROWINGS-TOTAL-FY2021 sums only those two same-date classes and excludes convertible notes/leases.
- Borrowings, current plus non-current / FY2022 — 0 (nil): The matching current and non-current borrowing rows are both nil; CALC-CYM-BORROWINGS-TOTAL-FY2022 sums only those two same-date classes and excludes convertible notes/leases.
- Dividends paid or declared / FY2021 — None paid or declared: R000180 is the issuer's FY2021 no-dividend statement; this is paid/declared status, not an A$'000 amount.
- Dividends paid or declared / FY2022 — None paid or declared: R000820 is the issuer's FY2022 no-dividend statement; this is paid/declared status, not an A$'000 amount.
- Dividends paid or declared / FY2023 — None paid or declared: R001739 is the issuer's FY2023 no-dividend statement; this is paid/declared status, not an A$'000 amount.
- Dividends paid or declared / FY2024 — None paid or declared: R002510 is the issuer's FY2024 no-dividend statement; this is paid/declared status, not an A$'000 amount.
- Dividends paid or declared / FY2025 — None paid or declared: R003191 is the issuer's FY2025 no-dividend statement; this is paid/declared status, not an A$'000 amount.
Source: Cyprium annual reports, current-year annual statement records unless a note specifies a later comparative or calculation.
FINANCIAL REVIEW / 05
Nifty and project context
Nifty is a development and restart project in these reports. The available resource figures are dated estimates; they do not establish annual copper production or realised sales. A separate update in March 2024 described approximately one million tonnes of contained copper. The Meekatharra disposal in 2025 narrows the project portfolio, and the subsequent August 2025 equity raising is a post-balance-date funding event.
Nifty Mineral Resource estimate snapshots
mixed units
| Metric | Nov 2021 estimate | May 2022 update |
|---|---|---|
| Nifty ore, all categoriesMt | 45.90 | 95.10 |
| Nifty copper grade, all categories% Cu | 1.60 | 1 |
| Contained copper, all categoriestonnes Cu | 732,200 | 940,200 |
| Oxide oreMt | 11.90 | 16.10 |
| Sulphide oreMt | 33.90 | 79 |
These are dated issuer estimate snapshots, not annual production, annual sales or a balance-date financial asset. Categories, methods and economic assumptions may differ; the two estimates are not a production trend.
The 95.1 Mt and 940,200 tonnes contained copper values belong to the May 2022 update. A separate March 2024 update described approximately one million tonnes contained copper, but the selected records do not provide a like-for-like complete category table for that update.
Source: Cyprium annual reports, current-year annual statement records unless a note specifies a later comparative or calculation.
Reading the figures
- The FY2021 originally extracted cash-flow closing balance (A$25.471m) differs by A$0.003m from the FY2021 balance sheet and the FY2022 comparative (A$25.474m); the selected evidence does not establish a reconciling item.
- The FY2022 originally extracted cash-flow activity totals differ by A$0.001m from its stated net movement. The FY2023 comparative changes the investing subtotal and asset-sale proceeds by A$0.001m; the report retains FY2022 current-year figures.
- The FY2025 selected cash-flow table and extraction print a negative financing total, while its signed component lines and the reported cash change require a positive total. The report displays the calculated positive amount and explicitly preserves this unresolved source conflict.
- This source-limited report does not use raw parsed body, original PDFs or financial web research.
Annual-report source registry
- Cyprium Metals Limited — Annual Report to shareholdersBalance date 2021-12-31; document date 2022-04-01.
- Cyprium Metals Limited — Annual Report to shareholdersBalance date 2022-12-31; document date 2023-03-31.
- Cyprium Metals Limited — Annual Report to shareholdersBalance date 2023-12-31; document date 2024-03-28.
- Cyprium Metals Limited — Annual Report to shareholdersBalance date 2024-06-30; document date 2024-09-30.
- Cyprium Metals Limited — Annual Report to shareholdersBalance date 2025-06-30; document date 2025-09-30.
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
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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