Exploration spend written off
In the year ended 30 June 2021, AUD 88,249 of exploration additions were written off, leaving no closing exploration asset in the selected roll-forward.
Dragon Mountain Gold is an exploration-stage group. The tables compare statutory consolidated amounts in Australian dollars, with basic loss per share in cents and FY2023 issue counts in shares. The reported revenue and other income total includes material other income in FY2022; it should not be read as mine sales.
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.
Consolidated balance at 30 June 2025.
Consolidated balance at 30 June 2025.
Loss attributable to owners.
The company remained an explorer across these five June year ends. Cash funded operating costs and exploration; FY2023 share issues and debt conversion changed the capital structure, and FY2025 introduced current convertible borrowings. The FY2025 auditor highlighted material going-concern uncertainty.
At 30 June 2025, the group held a 25% earn-in interest in each of Cawse and Avalon under staged Wingstar agreements. These are project interests, not production or reserve measures.
In the year ended 30 June 2021, AUD 88,249 of exploration additions were written off, leaving no closing exploration asset in the selected roll-forward.
At 30 June 2022, the exploration and evaluation carrying amount was AUD 331,284. The consolidated cash-flow statement recorded AUD 1,252,985 as proceeds held on trust for placement and issue of shares.
The year ended 30 June 2023 included a 79.8 million-share cash raise, a 50.34 million-share debt conversion and one million shares issued for Sleeklines consideration. The latter two were noncash capital movements.
During the year ended 30 June 2024, the group used cash in operations and in exploration investing, while its exploration asset increased to AUD 1,079,381.
The year ended 30 June 2025 brought AUD 550,000 cash convertible borrowing and AUD 120,000 of noncash service consideration. The auditor highlighted a material going-concern uncertainty without modifying the opinion. A separate AUD 700,000 shareholder loan was announced on 21 July 2025 and used to repay the October 2024 convertible loan on 31 July 2025.
Losses continued in every year. FY2021–FY2022 reported revenue and other income combined interest and other income, with other income the larger component in FY2022. FY2025 finance costs rose with convertible funding. The new FY2025 project-development expense is kept separate from historical exploration write-offs.
AUD
AI-generated presentation · values from Consolidated statutory result and basic EPS; no missing values plotted as zero.
AUD
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue and other income (reported total) | 9,011 | 66,985 | 12,604 | 7,708 | 3,497 |
| Accounting and audit fees | (86,463) | (98,029) | (65,956) | (54,048) | (60,582) |
| Computers and communications | (5,114) | (5,105) | (6,819) | (7,749) | (1,754) |
| Depreciation and amortisation | (92,062) | (86,924) | (43,723) | (563) | (1,558) |
| Employee benefits expense | (338,665) | (272,205) | (119,417) | (113,300) | (130,200) |
| Finance costs | (9,191) | (1,809) | (2,077) | (2,997) | (43,665) |
| Insurance | (26,571) | (34,627) | (72,722) | (24,559) | (49,799) |
| Occupancy | (1,173) | (180) | (18,000) | (36,000) | (36,000) |
| Professional fees | (4,857) | (171,422) | (64,198) | (8,968) | (45,691) |
| Regulatory expenses | (37,059) | (48,484) | (60,713) | (43,257) | (37,065) |
| Other income / (expenses) | (1,798) | (1,637) | (1,887) | (2,308) | 47,113 |
| Of reported total: interest revenue | 4,011 | 3,975 | 12,604 | 7,708 | Not separately presented |
| Of reported total: other income | 5,000 | 63,010 | 0 (nil) | Not separately presented | Not separately presented |
| Exploration expenditure written off | (88,249) | Nil | Not separately presented | Not separately presented | Not separately presented |
| Exploration and project development expense | Not separately presented | Not separately presented | Not separately presented | Not separately presented | (27,977) |
| Share-based payment expense | Not separately presented | Nil | (43,324) | Nil | Not separately presented |
All values are AUD; expenses are signed negative. FY2025 exploration and project development is a distinct statement line and is not merged with earlier exploration written off. FY2025 other expenses is positive in the original statement.
FY2021 reported revenue and other income of AUD 9,011 comprised AUD 4,011 interest revenue and AUD 5,000 other income; FY2022 AUD 66,985 comprised AUD 3,975 interest revenue and AUD 63,010 other income. Issuer Note 1 reports FY2023 interest revenue of AUD 12,604 and nil other income, and FY2024 interest revenue of AUD 7,708; the FY2024 other-income component is not separately established. These component rows are included within, not added to, the reported total. Cash interest receipts are a separate cash-flow measure.
Source: Dragon Mountain Gold annual reports, consolidated statements and notes; exact cell provenance in the evidence file.
AUD
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Loss before tax | (682,191) | (653,437) | (486,232) | (286,041) | (383,681) |
| Income tax expense | Nil | Nil | Nil | Nil | Nil |
| Net loss attributable to owners | (682,191) | (653,437) | (486,232) | (286,041) | (383,681) |
| Other comprehensive income | Nil | Nil | Nil | Nil | Nil |
| Total comprehensive loss attributable to owners | (682,191) | (653,437) | (486,232) | (286,041) | (383,681) |
| Basic loss per sharecents per share | (0.26) | (0.25) | (0.13) | (0.07) | (0.10) |
| Weighted average ordinary shares for basic EPSshares | 263,530,515 | 263,530,515 | 388,100,723 | 394,671,665 | 394,671,665 |
Basic EPS is cents per share and its weighted average denominator is shares; monetary rows are AUD. Income-tax and OCI dashes are source-supported nil in the selected statement.
FY2021–FY2024 values use current-year annual extraction records; FY2025 uses the selected consolidated original table.
Source: Dragon Mountain Gold annual reports, consolidated statements and notes; exact cell provenance in the evidence file.
The FY2025 current borrowings were AUD 670,000: AUD 550,000 cash proceeds and AUD 120,000 service consideration. Current liabilities exceeded current assets, and the auditor highlighted material going-concern uncertainty.
AUD
AI-generated presentation · values from Consolidated financial position at 30 June; no missing values plotted as zero.
AUD
AI-generated presentation · values from Consolidated financial position at 30 June; no missing values plotted as zero.
AUD
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 818,599 | 1,613,198 | 697,551 | 228,331 | 129,812 |
| Trade and other receivables | 59,323 | 27,552 | 112,993 | 115,678 | 107,167 |
| Prepayments / other current assets | 9,323 | 10,140 | 15,739 | 12,175 | 136,844 |
| Total current assets | 887,245 | 1,650,890 | 826,283 | 356,184 | 373,823 |
| Exploration and evaluation assets | 0 | 331,284 | 922,014 | 1,079,381 | 1,317,458 |
| Plant and equipment | 3,518 | 2,760 | 2,120 | 1,557 | Nil |
| Right-of-use assets | 136,964 | 43,083 | Nil | Nil | Not separately presented |
| Total non-current assets | 140,482 | 377,127 | 924,134 | 1,080,938 | 1,317,458 |
| Total assets | 1,027,727 | 2,028,017 | 1,750,417 | 1,437,122 | 1,691,281 |
| Trade and other payables | 898,590 | 2,697,755 | 258,706 | 235,205 | 199,979 |
| Total current liabilities | 1,007,437 | 2,715,556 | 268,041 | 240,787 | 878,627 |
| Total liabilities | 1,061,829 | 2,715,556 | 268,041 | 240,787 | 878,627 |
| Net assets / (liabilities) | (34,102) | (687,539) | 1,482,376 | 1,196,335 | 812,654 |
| Issued capital | 33,081,803 | 33,081,803 | 35,694,626 | 35,694,626 | 35,694,626 |
| Reserves | 1,040 | 1,040 | 44,364 | 44,364 | 44,364 |
| Accumulated losses | (33,116,945) | (33,770,382) | (34,256,614) | (34,542,655) | (34,926,336) |
| Total equity | (34,102) | (687,539) | 1,482,376 | 1,196,335 | 812,654 |
| Current borrowings | Not separately presented | Not separately presented | Not separately presented | Nil | 670,000 |
| Current provisions | Not separately presented | Not separately presented | Not separately presented | 750 | 3,814 |
| Insurance premium funding | Not separately presented | Not separately presented | Not separately presented | 4,832 | 4,834 |
| Earlier short-term financial liabilities | 3,125 | 0 | 9,335 | Not separately presented | Not separately presented |
| Short-term lease liabilities | 105,722 | 17,801 | 0 | Not separately presented | Not separately presented |
| Long-term lease liabilities | 54,392 | 0 | Not separately presented | Not separately presented | Not separately presented |
AUD. FY2024 comparative amounts are from the FY2025 consolidated statement. This resolves the FY2024 trade-payables conflict in the draft in favour of AUD 235,205 rather than the earlier extraction’s AUD 235,955.
FY2025 borrowings include AUD 550,000 cash borrowing and AUD 120,000 noncash investor-relations service consideration. Earlier financial-liability and lease categories remain separate rows.
FY2021 and FY2022 net assets were negative.
Source: Dragon Mountain Gold annual reports, consolidated statements and notes; exact cell provenance in the evidence file.
The FY2025 cash-flow statement distinguishes AUD 550,000 cash borrowing from the AUD 670,000 year-end liability. Exploration cash payments and capitalised exploration additions are reported separately.
AUD
AI-generated presentation · values from Consolidated cash-flow bridge; no missing values plotted as zero.
AUD
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Net cash used in operating activities | (331,138) | (127,102) | (1,930,917) | (307,351) | (449,141) |
| Net cash used in investing activities | (88,249) | (331,284) | (580,730) | (157,367) | (199,376) |
| Net cash from / (used in) financing | Nil | 1,252,985 | 1,596,000 | (4,502) | 549,998 |
| Net change in cash | (419,387) | 794,599 | (915,647) | (469,220) | (98,519) |
| Opening cash | 1,237,986 | 818,599 | 1,613,198 | 697,551 | 228,331 |
| Closing cash | 818,599 | 1,613,198 | 697,551 | 228,331 | 129,812 |
AUD. Financing includes FY2022–FY2023 equity funding and FY2025 borrowing. FY2025 cash declined despite the AUD 550,000 borrowing inflow.
Source: Dragon Mountain Gold annual reports, consolidated statements and notes; exact cell provenance in the evidence file.
AUD
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Payments to suppliers and employees | (345,148) | (131,077) | (1,943,521) | (315,059) | (414,348) |
| Government grant cash receipts | 10,000 | Nil | Not separately presented | Not separately presented | Not separately presented |
| Interest received | 4,010 | 3,975 | 12,604 | 7,708 | 3,497 |
| Interest and finance costs paid | Not separately presented | Not separately presented | Not separately presented | 0 (nil) | (38,290) |
| Payments for exploration and evaluation | (88,249) | (331,284) | (580,730) | (157,367) | (199,376) |
| Proceeds held on trust for placement and share issue | Nil | 1,252,985 | 1,596,000 | Nil | Not separately presented |
| Proceeds from borrowings | Not separately presented | Not separately presented | Not separately presented | 0 (nil) | 550,000 |
| Net premium funding cash movement | Not separately presented | Not separately presented | Not separately presented | (4,502) | (2) |
AUD. The FY2025 cash-flow statement explicitly presents FY2024 comparative dashes for finance costs paid and borrowing proceeds, shown here as nil. Other missing rows without direct source support remain not separately presented, not zero.
Exploration cash paid differs from capitalised exploration additions. FY2023 debt conversion and Sleeklines consideration shares were noncash issued-capital movements.
Source: Dragon Mountain Gold annual reports, consolidated statements and notes; exact cell provenance in the evidence file.
FY2023 issued-capital growth combined a cash placement, conversion of debt to equity and Sleeklines consideration shares. The company reported no dividends declared for FY2025.
AUD
AI-generated presentation · values from Consolidated year-end equity and dividends; no missing values plotted as zero.
AUD
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Issued capital | 33,081,803 | 33,081,803 | 35,694,626 | 35,694,626 | 35,694,626 |
| Accumulated losses | (33,116,945) | (33,770,382) | (34,256,614) | (34,542,655) | (34,926,336) |
| Foreign exchange translation reserve | 1,040 | 1,040 | 1,040 | 1,040 | 1,040 |
| Share-based payment reserve | 0 (nil) | 0 (nil) | 43,324 | 43,324 | 43,324 |
| Total equity | (34,102) | (687,539) | 1,482,376 | 1,196,335 | 812,654 |
| Dividends declared per sharecents per share | Nil | Nil | Nil | Nil | Nil |
AUD for monetary rows; dividends are cents per share. FY2025 reserve components are confirmed by the selected FY2025 statement of changes in equity; FY2025 total reserves is AUD 44,364.
FY2021–FY2022 negative equity changed following FY2023 share issues and conversion of liabilities. The share-based equity reserve was nil at 1 July 2021 (the FY2021 closing boundary) and at 30 June 2022 in the issuer statement of changes in equity.
Source: Dragon Mountain Gold annual reports, consolidated statements and notes; exact cell provenance in the evidence file.
The Cawse and Avalon agreements had completed stages 1 and 2 by 30 June 2025, earning a 25% interest in each. Stage 3 requires a further AUD 250,000 of sole funding per project for 26% more; stage 4 requires a further AUD 300,000 exploration program per project over 15 months. The rights exclude nickel and cobalt.
AUD
AI-generated presentation · values from Exploration and evaluation asset roll-forward; no missing values plotted as zero.
AUD
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Opening exploration and evaluation carrying amount | Nil | Nil | 331,284 | 922,014 | 1,079,381 |
| Capitalised exploration additions | 88,249 | 331,284 | 590,730 | 157,367 | 238,077 |
| Exploration written off | (88,249) | Nil | Nil | Not separately presented | Not separately presented |
| Closing exploration and evaluation carrying amount | Nil | 331,284 | 922,014 | 1,079,381 | 1,317,458 |
AUD. Capitalised additions are an accrual/carrying-value measure; cash payments appear separately in the cash-flow table.
FY2021 additions were fully written off. Where no write-off line was separately extracted, the cell is marked not separately presented.
Source: Dragon Mountain Gold annual reports, consolidated statements and notes; exact cell provenance in the evidence file.
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.
The source references in this report identify the public disclosures used and should be read with the associated section, table and reporting-period qualifications. This report paraphrases, organises and compares those disclosures for descriptive and educational purposes rather than reproducing source text.
Copyright and other rights in linked reports, company names, logos and third-party materials remain with their respective owners. MII Research does not claim affiliation with or endorsement by the company covered in this report, the ASX or cited organisations.
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.
This record is for general descriptive and educational information only. It is not financial-product, investment, legal, tax, technical or other professional advice; it is not a securities recommendation, valuation, target price, offer, solicitation or invitation to buy, sell or hold.
It does not consider any reader’s objectives, financial situation, needs, knowledge, experience or risk tolerance. Independently verify material information against the primary disclosures, obtain appropriate independent professional advice and do not use this record as the sole or primary basis for any decision.
Public sources are used in good faith, but no representation or warranty is made as to accuracy, completeness, reliability, currency or fitness for a particular purpose. To the maximum extent permitted by law, MII Research disclaims liability for direct, indirect, incidental, consequential, opportunity or investment loss arising from use of or reliance on this record; nothing excludes or limits liability that cannot lawfully be excluded or limited.
Report suspected errors to MII Research with the relevant report section and primary-source document and page reference so that the record can be reviewed and corrected where appropriate.