FY2022
Rosie/C2 resource and MLEM work
The 10 March 2022 Rosie/C2 disclosure was cited at 94,300t contained nickel. Phase 1 MLEM north of the deposits was completed late in the financial year.
ASX: DKM · Five-year financial review
Duketon Mining Limited (ASX: DKM) - Five-Year Financial Review FY2022-FY2026
Five annual reports for Duketon Mining Limited, an Australian exploration company. Monetary tables use Australian dollars in units unless labelled otherwise; per-share amounts and Mineral Resource units are shown separately. The comparison tracks annual statutory results and cash consumption alongside dated resource estimates.
Reading the tables: 0 (nil) is a supported zero. Other text distinguishes an amount included in another line, a non-applicable item, a separately unavailable component and an unresolved value. These are not interchangeable. Period-specific detail is labelled; complete year-by-year detail remains available.
FY2026 loss
A$3.37m
Statutory loss attributable to owners
Cash at 30 June 2026
A$7.52m
Company cash and cash equivalents
FY2026 operating cash flow
(A$1.71m)
Net operating cash outflow
Rosie + C2 nickel
102,527t
Contained nickel in Mineral Resources; 12 Dec 2022 estimate reiterated in FY2026
Five years in context
Duketon reported a statutory loss in every year from FY2022 to FY2026. Exploration spending was expensed as incurred, while fair-value movements in its listed investment portfolio and tenement transactions affected reported income. The income line is revenue and other income, not sales from an operating mine.
Cash fell from A$16.23m at 30 June 2022 to A$7.52m at 30 June 2026 as each year had net operating cash outflow. At the same time, the company shifted exploration emphasis from Rosie/C2 nickel to a wider project set, including Barlee and Killarney gold; the Rosie/C2 Mineral Resource estimate was updated in December 2022 and later repeated rather than representing annual production.
Events behind the numbers
FY2023
C2 estimate updated
The December 2022 resource update took combined Rosie/C2 contained nickel to 102,527t. Phase 2 MLEM was completed during the year.
FY2024
Exploration focus broadens
Work on Rosie/C2 slowed as nickel prices fell; the company reported more work across Barlee, Stephens and Doris.
FY2025
Killarney option agreement
Duketon brought Killarney into its project set through an option and purchase agreement and focused work on auger drilling. Cash at 30 June 2025 was A$9.33m.
FY2026
Gold drilling and share consideration
Killarney and Barlee maiden programs intersected gold. On 18 May 2026, 2m shares settled A$240,000 of Killarney vendor invoices under the 10 April 2025 agreement; this was non-cash consideration included in exploration expenditure.
FINANCIAL REVIEW / 01
Earnings and expenditure
The five statutory results are losses. FY2022 was especially affected by a A$7.24m fair-value loss on FVTPL investments; FY2023 and FY2025 recorded fair-value gains. Exploration expense remained a material annual cost and rose again in FY2026.
Statutory loss attributable to owners
A$
Loss attributable to owners
AI-generated presentation · values from Statement of profit or loss and comprehensive income; no missing values plotted as zero.
Exploration expenditure expensed
A$
Exploration expenditure expensed
AI-generated presentation · values from Statement of profit or loss and comprehensive income; no missing values plotted as zero.
Statement of profit or loss and comprehensive income
A$
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Revenue and other income | 121,773 | 2,147,205 | 537,553 | 1,479,549 | 920,279 |
| Interest income | 26,773 | 356,394 | 537,553 | 468,800 | 380,514 |
| Profit on sale of tenements | 95,000 | 490,000 | Nil | 200,000 | 200,000 |
| Fair value gains on FVTPL investments | Nil | 1,300,811 | Nil | 810,122 | 302,765 |
| Fair value losses on FVTPL investments | -7,241,192 | Nil | -1,658,651 | Nil | Not separately presented |
| Dividends received on investments | Not separately presented | Not separately presented | Nil | 627 | Nil |
| Exploration expenditure expensed | -3,060,179 | -4,510,784 | -1,419,417 | -1,081,725 | -2,777,284 |
| Employee benefits expense | -388,292 | -392,789 | -423,746 | -527,034 | -554,133 |
| Administration expense | -322,924 | -360,143 | -391,551 | -386,516 | -405,716 |
| Depreciation expense | -65,886 | -72,903 | -67,209 | -38,742 | -65,810 |
| Share-based payment expense | -610,638 | -508,742 | -52,868 | Nil | -480,396 |
| Finance costs | -6,263 | -3,262 | -1,064 | -5,088 | -3,408 |
| Loss before income tax | -11,573,601 | -3,701,418 | -3,476,953 | -559,556 | -3,366,468 |
| Income tax benefit | 2,259,335 | 842,933 | Nil | Nil | Nil |
| Loss attributable to owners | -9,314,266 | -2,858,485 | -3,476,953 | -559,556 | -3,366,468 |
Company statutory basis. Expenses and losses appear as negative amounts; gains and tax benefits as positive amounts.
Revenue and other income is the issuer's summary line, not mining sales. The component rows sit beneath it and should not be added to it again. Investment dividends are not separately presented in FY2022–FY2023; the FY2025 statement shows a dash for FY2024 and A$627 for FY2025.
Exploration and evaluation spending is expensed as incurred. No producing-mine revenue, output, sales volume or AISC series is inferred.
Basis and presentation notes (14)
- Profit on sale of tenements / FY2024 — Nil: Issuer statement presents a dash/nil for this line.
- Fair value gains on FVTPL investments / FY2022 — Nil: Issuer statement presents a dash/nil for this line.
- Fair value gains on FVTPL investments / FY2024 — Nil: Issuer statement presents a dash/nil for this line.
- Fair value losses on FVTPL investments / FY2023 — Nil: Issuer statement presents a dash/nil for this line.
- Fair value losses on FVTPL investments / FY2025 — Nil: FY2025 detailed profit-or-loss statement shows a dash for this line; saved extraction records zero as no amount recognised.
- Fair value losses on FVTPL investments / FY2026 — Not separately presented: The FY2026 detailed profit-or-loss table reports a fair-value gain of A$302,765 and no loss line.
- Dividends received on investments / FY2022 — Not separately presented: The FY2022 profit-or-loss revenue block has no separate dividends-received line. No nil amount is inferred.
- Dividends received on investments / FY2023 — Not separately presented: The FY2023 profit-or-loss revenue block has no separate dividends-received line. No nil amount is inferred.
- Dividends received on investments / FY2024 — Nil: The FY2025 profit-or-loss statement explicitly shows a dash for dividends received in its FY2024 comparative column.
- Dividends received on investments / FY2026 — Nil: FY2026 P&L presents a dash.
- Share-based payment expense / FY2025 — Nil: FY2025 detailed profit-or-loss statement shows a dash for this line; saved extraction records zero as no amount recognised.
- Income tax benefit / FY2024 — Nil: Issuer statement presents a dash/nil for this line.
- Income tax benefit / FY2025 — Nil: FY2025 detailed profit-or-loss statement shows a dash for this line; saved extraction records zero as no amount recognised.
- Income tax benefit / FY2026 — Nil: Issuer statement presents a dash/nil for this line.
Source: Duketon Mining annual reports FY2022–FY2026; exact row provenance in author evidence.
Per-share and market context
Mixed units
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Basic and diluted loss per sharecents/share | -7.7 | -2.3 | -2.8 | -0.5 | -2.7 |
| Share price at year endcents/share | 25 | 35.5 | 11 | 13 | 10.5 |
Loss per share is a flow measure; closing share price is a market observation. They are separate measures.
Source: Duketon Mining annual reports FY2022–FY2026; exact row provenance in author evidence.
FINANCIAL REVIEW / 02
Assets, liabilities and liquidity
Cash and listed investments account for most current assets. Closing equity declined as losses accumulated; FY2026 total liabilities remained under A$0.4m. The 2026 working-capital schedule differs in allocation between payables and employee obligations from the face of the balance sheet, so the statement classifications are displayed here.
Cash and FVTPL investments
A$
Cash and cash equivalentsListed investments measured at FVTPL
AI-generated presentation · values from Liquidity and investment portfolio; no missing values plotted as zero.
Total shareholder equity
A$
TOTAL EQUITY
AI-generated presentation · values from Statement of financial position: liabilities and equity; no missing values plotted as zero.
Statement of financial position: assets
A$ at 30 June
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Cash and cash equivalentsA$ | 16,229,093 | 12,474,449 | 10,619,448 | 9,326,735 | 7,523,709 |
| Trade and other receivables (current)A$ | 95,270 | 172,108 | 103,395 | 93,262 | 168,489 |
| Financial assets at fair value through profit or lossA$ | 2,203,821 | 3,656,380 | 1,711,436 | 2,405,808 | 1,495,498 |
| TOTAL CURRENT ASSETSA$ | 18,528,184 | 16,302,937 | 12,434,279 | 11,825,805 | 9,187,696 |
| Receivables (non-current)A$ | 37,274 | 37,274 | 37,274 | 37,164 | 37,164 |
| Plant and equipmentA$ | 93,366 | 106,031 | 80,098 | 75,330 | 132,315 |
| Right-of-use assetsA$ | 64,363 | 32,220 | Nil | 42,523 | 8,559 |
| TOTAL NON-CURRENT ASSETSA$ | 195,003 | 175,525 | 117,372 | 155,017 | 178,038 |
| TOTAL ASSETSA$ | 18,723,187 | 16,478,462 | 12,551,651 | 11,980,822 | 9,365,734 |
Company statement balances. FY2025 total current assets are A$11,825,805, confirmed in both the FY2025 original statement and FY2026 comparative.
Plant and equipment is a balance-sheet asset; cash payments for plant and equipment are shown in the cash-flow section.
Basis and presentation notes (1)
- Right-of-use assets / FY2024 — Nil: Issuer statement presents a dash/nil for this line.
Source: Duketon Mining annual reports FY2022–FY2026; exact row provenance in author evidence.
Statement of financial position: liabilities and equity
A$ at 30 June
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Trade and other payables (current)A$ | 540,025 | 635,857 | 161,194 | 100,022 | 147,307 |
| Lease liabilities (current)A$ | 32,321 | 32,453 | Nil | 35,178 | 9,531 |
| Employee benefit obligations (current)A$ | 151,317 | 185,215 | 205,624 | 209,561 | 228,989 |
| TOTAL CURRENT LIABILITIESA$ | 723,663 | 853,525 | 366,818 | 344,761 | 385,827 |
| Lease liabilities (non-current)A$ | 32,455 | Nil | Nil | 9,531 | Nil |
| Employee benefit obligations (non-current)A$ | 9,999 | 17,610 | 1,591 | 2,844 | 4,383 |
| TOTAL NON-CURRENT LIABILITIESA$ | 42,454 | 17,610 | 1,591 | 12,375 | 4,383 |
| TOTAL LIABILITIESA$ | 766,117 | 871,135 | 368,409 | 357,136 | 390,210 |
| Issued capitalA$ | 23,944,748 | 23,964,748 | 24,099,875 | 24,099,875 | 24,356,329 |
| ReservesA$ | 1,067,460 | 1,556,202 | 1,473,943 | 1,302,718 | 1,470,110 |
| (Accumulated losses)A$ | -7,055,138 | -9,913,623 | -13,390,576 | -13,778,907 | -16,850,915 |
| TOTAL EQUITYA$ | 17,957,070 | 15,607,327 | 12,183,242 | 11,623,686 | 8,975,524 |
Company statement balances. Current and non-current employee obligations and lease liabilities are retained as separate lines.
The FY2026 working-capital schedule allocates A$6,517 differently between payables and employee benefits than the statement of financial position; the reported working-capital total agrees. This table uses the statutory statement classifications.
Basis and presentation notes (4)
- Lease liabilities (current) / FY2024 — Nil: Issuer statement presents a dash/nil for this line.
- Lease liabilities (non-current) / FY2023 — Nil: Issuer statement presents a dash/nil for this line.
- Lease liabilities (non-current) / FY2024 — Nil: Issuer statement presents a dash/nil for this line.
- Lease liabilities (non-current) / FY2026 — Nil: Issuer statement presents a dash/nil for this line.
Source: Duketon Mining annual reports FY2022–FY2026; exact row provenance in author evidence.
Liquidity and investment portfolio
A$ at 30 June
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Cash and cash equivalentsA$ | 16,229,093 | 12,474,449 | 10,619,448 | 9,326,735 | 7,523,709 |
| Listed investments measured at FVTPLA$ | 2,203,821 | 3,656,380 | 1,711,436 | 2,405,808 | 1,495,498 |
| Reported working capitalA$ | 17,804,521 | 15,449,412 | 12,067,461 | 11,481,044 | 8,801,869 |
Working capital is the issuer's capital-risk-management schedule, not a calculation of cash plus investments alone.
FVTPL investment movements affect profit or loss and may include cash disposals; these are not mining operating revenue.
Source: Duketon Mining annual reports FY2022–FY2026; exact row provenance in author evidence.
FINANCIAL REVIEW / 03
Cash consumed and financed
Operating cash outflow occurred in each year. Payments for exploration are cash flows and differ from the exploration expense recognised in profit or loss. FY2026 operating receipts included A$1.21m from disposal of FVTPL assets and A$0.20m from disposal of mining properties.
Net operating cash flow
A$
Net cash (outflow)/inflow from operating activities
AI-generated presentation · values from Statement of cash flows and cash bridge; no missing values plotted as zero.
Closing cash
A$
Cash and cash equivalents at end of year
AI-generated presentation · values from Statement of cash flows and cash bridge; no missing values plotted as zero.
Statement of cash flows and cash bridge
A$
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Net cash (outflow)/inflow from operating activities | -4,542,070 | -3,668,896 | -1,812,997 | -1,261,035 | -1,713,927 |
| Net cash (outflow)/inflow from investing activities | -83,084 | -53,425 | -9,056 | -8,461 | -51,831 |
| Net cash inflow/(outflow) from financing activities | 30,858 | -32,323 | -32,948 | -23,217 | -37,268 |
| Net (decrease)/increase in cash and cash equivalents | -4,594,296 | -3,754,644 | -1,855,001 | -1,292,713 | -1,803,026 |
| Cash and cash equivalents at beginning of year | 20,823,389 | 16,229,093 | 12,474,449 | 10,619,448 | 9,326,735 |
| Cash and cash equivalents at end of year | 16,229,093 | 12,474,449 | 10,619,448 | 9,326,735 | 7,523,709 |
Company statutory cash-flow statement. Cash opening plus net change equals closing cash in each period.
Source: Duketon Mining annual reports FY2022–FY2026; exact row provenance in author evidence.
Operating cash flow: named components
A$
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Interest received | 29,785 | 315,496 | 523,547 | 477,668 | 387,493 |
| Interest paid | -6,263 | -3,262 | -1,064 | -5,088 | -3,408 |
| Payments to suppliers and employees | -680,908 | -710,921 | -781,403 | -928,684 | -949,100 |
| Expenditure on mining interests / Payments for exploration expenditure | -3,041,751 | -4,451,394 | -1,840,370 | -1,121,308 | -2,561,987 |
| Income taxes (paid)/refunded | -842,933 | 842,933 | Nil | Not separately presented | Not separately presented |
| Proceeds from disposal of financial assets at FVTPL | Nil | 488,276 | 286,293 | 315,750 | 1,213,075 |
| Payments for financial assets at FVTPL | Nil | -150,024 | Nil | Not separately presented | Not separately presented |
Cash payments for exploration differ from the accrual exploration expense in the income statement. The FY2025 and FY2026 statements do not present separate income-tax cash or payments-for-FVTPL-assets lines; these cells do not assert zero.
FY2026 A$200,000 proceeds from disposal of mining properties are an operating cash receipt in the issuer's cash-flow statement. The same amount in profit on sale of tenements is an accrual income line, so do not sum them.
Basis and presentation notes (8)
- Income taxes (paid)/refunded / FY2024 — Nil: Issuer statement presents a dash/nil for this line.
- Income taxes (paid)/refunded / FY2025 — Not separately presented: The FY2025 cash-flow statement has no separate income-tax cash line. No nil amount is inferred.
- Income taxes (paid)/refunded / FY2026 — Not separately presented: The FY2026 cash-flow statement has no separate income-tax cash line. No nil amount is inferred.
- Proceeds from disposal of financial assets at FVTPL / FY2022 — Nil: Issuer statement presents a dash/nil for this line.
- Payments for financial assets at FVTPL / FY2022 — Nil: Issuer statement presents a dash/nil for this line.
- Payments for financial assets at FVTPL / FY2024 — Nil: Issuer statement presents a dash/nil for this line.
- Payments for financial assets at FVTPL / FY2025 — Not separately presented: The FY2025 cash-flow statement shows disposal proceeds but no separate payment-for-FVTPL-assets line. No nil amount is inferred.
- Payments for financial assets at FVTPL / FY2026 — Not separately presented: The FY2026 cash-flow statement shows disposal proceeds but no separate payment-for-FVTPL-assets line. No nil amount is inferred.
Source: Duketon Mining annual reports FY2022–FY2026; exact row provenance in author evidence.
Investing, financing and capital spending components
A$
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Payments for plant and equipment (capex) | -83,084 | -53,425 | -9,056 | -8,571 | -88,831 |
| Principal elements of lease payments | -31,642 | -32,323 | -32,453 | -23,217 | -35,178 |
The FY2026 A$37,000 disposal receipt is investing cash; A$88,831 plant and equipment payment is investing cash. They are separate from the period-end plant and equipment asset.
The cash-flow statements label the lease line as principal elements of lease payments; finance costs are in operating cash flows here.
Source: Duketon Mining annual reports FY2022–FY2026; exact row provenance in author evidence.
Reconciliation of accounting loss to operating cash flow
A$
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Net (loss)/profit for the year | -9,314,266 | -2,858,485 | -3,476,953 | -559,556 | -3,366,468 |
| Share-based payment expense (non-cash) | 610,638 | 508,742 | 52,868 | Nil | 480,396 |
| Shares issued for tenement acquisition — noncash add-back | Not separately presented | Not separately presented | Not separately presented | Nil | 240,000 |
| Depreciation (non-cash) | 65,886 | 72,903 | 67,209 | 38,742 | 65,810 |
| Gain on plant disposal — noncash deduction | Not separately presented | Not separately presented | Not separately presented | Nil | -37,000 |
| Fair value of financial assets received on sale of tenements (non-cash) | -95,000 | -490,000 | Nil | -200,000 | Nil |
| (Increase)/decrease in trade and other receivables | -18,734 | -76,838 | 68,713 | 10,133 | -75,227 |
| Decrease/(increase) in financial assets at FVTPL | 7,241,192 | -962,559 | 1,944,944 | -494,372 | 910,310 |
| (Decrease)/increase in trade and other payables | 19,335 | 95,832 | -474,168 | -61,172 | 40,768 |
| Movement in current tax liabilities | -842,933 | Nil | Not separately presented | Not separately presented | Not separately presented |
| Increase in employee benefit obligations | 51,147 | 41,509 | 4,390 | 5,190 | 27,484 |
| Movement in deferred tax liabilities | -2,259,335 | Nil | Not separately presented | Not separately presented | Not separately presented |
| Net cash outflow from operating activities (subtotal) | -4,542,070 | -3,668,896 | -1,812,997 | -1,261,035 | -1,713,927 |
The FY2022 bridge includes separate current-tax and deferred-tax liability decreases; these are cash-flow reconciliation adjustments, distinct from the profit-or-loss income-tax benefit.
The FY2026 bridge adds back A$240,000 of noncash Killarney share consideration and deducts the A$37,000 plant-disposal gain. The A$37,000 investing cash receipt appears separately in the dated transactions table.
Nil follows an explicit source dash. 'Not separately presented' means the selected annual reconciliation has no separate line for that period; no amount is inferred.
Basis and presentation notes (19)
- Share-based payment expense (non-cash) / FY2025 — Nil: Issuer statement presents a dash/nil for this line.
- Shares issued for tenement acquisition — noncash add-back / FY2022 — Not separately presented: No separate line in this period's selected issuer operating-cash reconciliation; no amount inferred.
- Shares issued for tenement acquisition — noncash add-back / FY2023 — Not separately presented: No separate line in this period's selected issuer operating-cash reconciliation; no amount inferred.
- Shares issued for tenement acquisition — noncash add-back / FY2024 — Not separately presented: No separate line in this period's selected issuer operating-cash reconciliation; no amount inferred.
- Shares issued for tenement acquisition — noncash add-back / FY2025 — Nil: The selected issuer reconciliation prints a dash for this period.
- Gain on plant disposal — noncash deduction / FY2022 — Not separately presented: No separate line in this period's selected issuer operating-cash reconciliation; no amount inferred.
- Gain on plant disposal — noncash deduction / FY2023 — Not separately presented: No separate line in this period's selected issuer operating-cash reconciliation; no amount inferred.
- Gain on plant disposal — noncash deduction / FY2024 — Not separately presented: No separate line in this period's selected issuer operating-cash reconciliation; no amount inferred.
- Gain on plant disposal — noncash deduction / FY2025 — Nil: The selected issuer reconciliation prints a dash for this period.
- Fair value of financial assets received on sale of tenements (non-cash) / FY2024 — Nil: Issuer statement presents a dash/nil for this line.
- Fair value of financial assets received on sale of tenements (non-cash) / FY2026 — Nil: Issuer statement presents a dash/nil for this line.
- Movement in current tax liabilities / FY2023 — Nil: The selected issuer reconciliation prints a dash for this period.
- Movement in current tax liabilities / FY2024 — Not separately presented: No separate line in this period's selected issuer operating-cash reconciliation; no amount inferred.
- Movement in current tax liabilities / FY2025 — Not separately presented: No separate line in this period's selected issuer operating-cash reconciliation; no amount inferred.
- Movement in current tax liabilities / FY2026 — Not separately presented: No separate line in this period's selected issuer operating-cash reconciliation; no amount inferred.
- Movement in deferred tax liabilities / FY2023 — Nil: The selected issuer reconciliation prints a dash for this period.
- Movement in deferred tax liabilities / FY2024 — Not separately presented: No separate line in this period's selected issuer operating-cash reconciliation; no amount inferred.
- Movement in deferred tax liabilities / FY2025 — Not separately presented: No separate line in this period's selected issuer operating-cash reconciliation; no amount inferred.
- Movement in deferred tax liabilities / FY2026 — Not separately presented: No separate line in this period's selected issuer operating-cash reconciliation; no amount inferred.
Source: Duketon Mining annual reports FY2022–FY2026; exact row provenance in author evidence.
Named financing and investing items
A$ unless indicated
| Metric | Reported amount |
|---|---|
| FY2022 — proceeds from issue of shares (cash)A$ | 62,500 |
| FY2023 — income tax refund (operating cash)A$ | 842,933 |
| FY2025 — dividends received on investments (operating cash)A$ | 627 |
| FY2025 — lease security deposit refund (investing cash)A$ | 110 |
| FY2026 — mining-property disposal proceeds (operating cash)A$ | 200,000 |
| FY2026 — plant disposal proceeds (investing cash)A$ | 37,000 |
| FY2026 — plant disposal gain (accrual income)A$ | 37,000 |
| FY2026 — Killarney vendor invoices settled in shares (non-cash)A$ | 240,000 |
| FY2026 — share issue transaction costs (financing cash)A$ | -2,090 |
The event labels give the year and cash/non-cash boundary. Amounts from different years are not a trend series.
A$240,000 Killarney share settlement and A$37,000 gain on plant disposal are accounting amounts, distinct from cash proceeds or payments.
Source: Duketon Mining annual reports FY2022–FY2026; exact row provenance in author evidence.
FINANCIAL REVIEW / 04
Capital and shareholders
No dividends were paid or declared in the selected FY2022–FY2024 and FY2026 annual claims. The FY2025 Directors' Report separately confirms no dividends paid or declared during that year. The FY2026 Killarney vendor settlement increased issued capital through shares but did not provide cash financing proceeds.
Share capital and shareholder equity
A$ at 30 June unless noted
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Issued capital — closingA$ | 23,944,748 | 23,964,748 | 24,099,875 | 24,099,875 | 24,356,329 |
| Options reserve — closingA$ | 1,067,460 | 1,556,202 | 1,473,943 | 1,302,718 | 1,470,110 |
| Accumulated losses — closingA$ | -7,055,138 | -9,913,623 | -13,390,576 | -13,778,907 | -16,850,915 |
| Total equity — closingA$ | 17,957,070 | 15,607,327 | 12,183,242 | 11,623,686 | 8,975,524 |
| Loss for the yearA$ during year | -9,314,266 | -2,858,485 | -3,476,953 | -559,556 | -3,366,468 |
Closing balances use the statement of financial position. The FY2026 statement of changes in equity reports A$258,544 shares issued and A$2,090 share-issue costs; A$240,000 of the share value settled Killarney vendor invoices without a cash receipt.
Opening-equity and share-issue rows from the editorial starting point are omitted where they mixed prior-year comparatives with current-year movements.
Source: Duketon Mining annual reports FY2022–FY2026; exact row provenance in author evidence.
Shareholder returns and dilution context
Mixed units
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Dividends paid or declaredstatus | 0 (nil) | 0 (nil) | 0 (nil) | 0 (nil) | 0 (nil) |
| Basic and diluted loss per sharecents/share | -7.7 | -2.3 | -2.8 | -0.5 | -2.7 |
| Share price at year endcents/share | 25 | 35.5 | 11 | 13 | 10.5 |
Dividends received on investments are not dividends paid to shareholders. The FY2025 Directors' Report explicitly states that no dividends were paid or declared during the financial year and no recommendation for payment was made.
FY2026 Killarney share consideration is non-cash; share-issue transaction costs are cash financing outflows.
Basis and presentation notes (5)
- Dividends paid or declared / FY2022 — 0 (nil): Issuer expressly states no dividends were paid or declared.
- Dividends paid or declared / FY2023 — 0 (nil): Issuer expressly states no dividends were paid or declared.
- Dividends paid or declared / FY2024 — 0 (nil): Issuer expressly states no dividends were paid or declared.
- Dividends paid or declared / FY2025 — 0 (nil): The FY2025 Directors' Report explicitly states that no dividends were paid or declared during the financial year and no recommendation for payment was made. Investment dividends received remain a separate metric.
- Dividends paid or declared / FY2026 — 0 (nil): Issuer expressly states no dividends were paid or declared.
Source: Duketon Mining annual reports FY2022–FY2026; exact row provenance in author evidence.
FINANCIAL REVIEW / 05
Rosie/C2 resources and project activity
The combined Rosie/C2 nickel estimate rose with the December 2022 C2 update; subsequent annual reports repeated 102,527t of contained nickel, 14,163t of copper and 254,712oz of PGEs. These are Mineral Resources, with no Ore Reserve estimated in the selected FY2023, FY2024 and FY2026 reports.
During FY2026, two RC drilling programs at Killarney preceded exercise of the purchase option, while maiden work at Barlee reported gold intersections. Those exploration results do not establish production or mining sales.
Rosie and C2 combined Mineral Resources reported in annual reviews
Mixed units
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Contained nickeltonnes | 94,300 | 102,527 | 102,527 | 102,527 | 102,527 |
| Contained coppertonnes | 14,100 | 14,163 | 14,163 | 14,163 | 14,163 |
| Contained PGEsoz | 255,200 | 254,712 | 254,712 | 254,712 | 254,712 |
Mineral Resources are geological estimates, not annual production or sales. FY2022 cites the 10 March 2022 disclosure; FY2023–FY2026 cite the updated 12 December 2022 disclosure.
The FY2022 and later estimates use different versions; the visible break reflects the updated C2 estimate and is not a year-on-year mined-output change.
No Ore Reserves were estimated in the FY2023, FY2024 and FY2026 reports. The selected FY2025 extraction does not establish an independent reserve statement.
Source: Duketon Mining annual reports FY2022–FY2026; exact row provenance in author evidence.
Duketon total Mineral Resource — reported 30 June snapshots
Mixed units
| Metric | 30 Jun 2024 | 30 Jun 2025 |
|---|---|---|
| Resource tonnes'000 t | 10,836 | 10,836 |
| Contained nickeltonnes | 102,527 | 102,527 |
| Contained coppertonnes | 14,163 | 14,163 |
| Contained cobalttonnes | 3,115 | 3,115 |
| Contained PGEsoz | 254,712 | 254,712 |
FY2025 annual-report Tables 1a and 2a present these as distinct balance-date snapshots. Values are reported to the source table's rounding.
Total comprises Rosie plus C2, at the stated respective cut-offs. It is not an Ore Reserve.
Source: Duketon Mining annual reports FY2022–FY2026; exact row provenance in author evidence.
Reading the figures
- Existing annual extraction and targeted DB tables are supplemented by the authorised read-only parsed-body check; no PDF or new parsing was used.
- FY2025 shareholder dividends paid or declared are confirmed nil by the Directors' Report. Investment dividends received are a different measure.
- The FY2025 shareholder dividend status is resolved. Other component cells retain their actual statement presentation rather than invented zeros.
- Resource estimates are historic snapshots and use different versions across FY2022 and later years; no mine-production, AISC, sales volume or forward forecast is asserted.
- Final targeted check: existing parsed annual-report DB evidence was read on 28 September 2026. Not available in checked reports is a closed data-availability limit, never a numeric zero. Only the previously held cells and their directly related notes were changed; this is not a new full-report audit or publication approval.
Annual-report source registry
- Duketon Mining Limited — Annual Report to shareholders 2022Year ended 2022-06-30; annual report dated 2022-10-27; company-level financial statements.
- Duketon Mining Limited — Annual Report to shareholders 2023Year ended 2023-06-30; annual report dated 2023-09-21; company-level financial statements.
- Duketon Mining Limited — Annual Report to shareholders 2024Year ended 2024-06-30; annual report dated 2024-09-25; company-level financial statements.
- Duketon Mining Limited — Annual Report to shareholders 2025Year ended 2025-06-30; annual report dated 2025-09-10; company-level financial statements.
- Duketon Mining Limited — Annual Report to shareholders 2026Year ended 2026-06-30; annual report dated 2026-09-07; company-level financial statements.
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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