MMIIMarket Intel Insight
ASX: DRE · Five-year financial review

Dreadnought Resources Ltd (ASX: DRE) - Five-Year Financial Review FY2022-FY2026

Five June year ends for this Western Australian mineral explorer. Financial statement amounts are A$ unless a row specifies shares, cents or Mineral Resource units; FY2022 original and later-restated comparative figures are distinguished.

Financial years ended 30 June 2022–2026; each covers 12 months. · Editorial review: 2026-09-24 · MII Research

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 statutory loss
A$2.62m

Continuing operations before tax; source statement repeats this subtotal.

FY2026 closing cash
A$15.70m

At 30 June 2026.

FY2026 exploration assets
A$54.40m

Capitalised exploration and evaluation balance.

FY2026 Star resource
27,000 oz

Reported gold Resource snapshot; no production implication.

Five years in context

Dreadnought remained an exploration and development group across the five years. Its statements show operating cash outflows every year, funded through equity issuance while exploration expenditure was capitalised as well as paid in cash. The FY2025 statutory loss was affected by a large impairment of exploration assets; FY2026 reported a much smaller impairment.

The trend uses FY2022 as originally reported. The FY2023 annual report restated FY2022 comparatives, so the adjacent reconciliation is the appropriate place to inspect that difference. Mineral Resource figures are dated report snapshots for named deposits and do not represent sales or production.

Events behind the numbers

FY2022

Mangaroon exploration and earn-in

First Quantum exercised an earn-in over Mangaroon Ni-Cu-PGE after year end; the original FY2022 report recorded a statutory loss and no dividend.

FY2023

Yin and C3 resource work

The issuer reported a 20.06 Mt Yin resource and an initial 10.84 Mt C3 Inferred Resource; exploration cash payments rose materially.

FY2024

Resource growth and strategy

Yin was reported at 29.98 Mt and the group outlined a third-party mining and processing concept for Star of Mangaroon.

FY2025

Impairment and capital raising

The A$17.15m exploration impairment dominated the statutory loss; cash share issue proceeds were A$18.04m.

FY2026

Star development arrangements

The issuer reported a 27,000 oz Star resource and a Black Cat mining and processing agreement; cash closed at A$15.70m.

FINANCIAL REVIEW / 01

Statutory performance

FY2025’s loss widened alongside the large exploration impairment. FY2026’s reported loss narrowed; the group still reported no income tax benefit. The FY2022 restatement affects comparison of historical statements.

Statutory pre-tax loss

AUD

Statutory pre-tax lossLoss from continuing operations before income tax: FY2022 -1,433,764; FY2023 -5,521,985; FY2024 -6,319,382; FY2025 -18,882,469; FY2026 -2,616,172-20.0m-14.4m-8.9m-3.3m2.3mFY2022FY2023FY2024FY2025FY2026Loss from continuing operations before income tax, FY2022: -1,433,764 AUD-1,433,764Loss from continuing operations before income tax, FY2023: -5,521,985 AUD-5,521,985Loss from continuing operations before income tax, FY2024: -6,319,382 AUD-6,319,382Loss from continuing operations before income tax, FY2025: -18,882,469 AUD-18,882,469Loss from continuing operations before income tax, FY2026: -2,616,172 AUD-2,616,172
Loss from continuing operations before income tax
Original FY2022 followed by current-year results; A$ losses shown negative.

AI-generated presentation · values from Consolidated statutory result; no missing values plotted as zero.

Exploration impairment expense

AUD

Exploration impairment expenseImpairment of exploration expenditure: FY2022 -123,715; FY2023 -342,431; FY2024 -2,224,757; FY2025 -17,147,180; FY2026 -43,643-18.2m-13.1m-8.1m-3.0m2.1mFY2022FY2023FY2024FY2025FY2026Impairment of exploration expenditure, FY2022: -123,715 AUD-123,715Impairment of exploration expenditure, FY2023: -342,431 AUD-342,431Impairment of exploration expenditure, FY2024: -2,224,757 AUD-2,224,757Impairment of exploration expenditure, FY2025: -17,147,180 AUD-17,147,180Impairment of exploration expenditure, FY2026: -43,643 AUD-43,643
Impairment of exploration expenditure
Expense line as reported in each annual result.

AI-generated presentation · values from Consolidated statutory result; no missing values plotted as zero.

Consolidated statutory result

A$; expenses and losses negative

MetricFY2022FY2023FY2024FY2025FY2026
Other incomeAUD398,289338,777242,788433,442984,030
Administration expensesAUD-793,691-2,025,575-1,278,587-927,267-1,121,509
Finance expenseAUD-42,312-18,213-15,323-13,416-9,443
Exploration expenditure (expensed)AUD-268,852-329,511-47,681-98,641-442,007
Legal feesAUD-28,912-176,339-145,430-114,556-41,935
Depreciation and amortisation expenseAUD-62,114-132,811-159,750-162,702-174,800
Director and employee benefits expenseAUD-562,457-2,835,882-2,677,465-854,810-1,482,695
Impairment of exploration expenditureAUD-123,715-342,431-2,224,757-17,147,180-43,643
Loss from continuing operations before income taxAUD-1,433,764-5,521,985-6,319,382-18,882,469-2,616,172
Income tax benefitAUD0 (nil)0 (nil)0 (nil)0 (nil)0 (nil)
Other comprehensive loss, net of taxAUD0 (nil; derived)0 (nil)0 (nil)0 (nil)0 (nil)
Total comprehensive loss for the yearAUD-1,433,764-5,521,985-6,319,382-18,882,469-2,616,172
Fair-value financial asset gain / asset disposal result (distinct source lines)AUD50,0000 (nil)-13,1772,6610 (nil)
Unrealised loss on investmentsAUDN/PN/PN/PN/P-233,261
Impairment of receivablesAUDN/PN/PN/PN/P-50,909

Financial years ended 30 June. FY2022 is the amount in the FY2022 report; the FY2023 report later restated its FY2022 comparative.

The fair-value gain in FY2022 is a different source line from asset disposals in FY2024–FY2026; they are labelled separately below.

FY2026 source repeats the pre-tax loss subtotal with the same amounts; it is shown once.

FY2022 OCI is derived as nil from original same-basis statutory totals. FY2025 tax and OCI are reported nil in the complete consolidated statement, supported respectively by Note 4 current/deferred tax dashes and the FY2025 changes-in-equity OCI row. The original ambiguous extraction qualifications remain preserved in evidence.

Basis and presentation notes (20)
  • Income tax benefit / FY2022 — 0 (nil): R000443 is a reported_nil record for the matching FY2022 line and basis, with the selected statement row [15] ; zero denotes this line only.
  • Income tax benefit / FY2023 — 0 (nil): R001332 is a reported_nil record for the matching FY2023 line and basis, with the selected statement row [14] ; zero denotes this line only.
  • Income tax benefit / FY2024 — 0 (nil): R002354 is a reported_nil record for the matching FY2024 line and basis, with the selected statement row [14] ; zero denotes this line only.
  • Income tax benefit / FY2025 — 0 (nil): FY2025 consolidated profit-or-loss statement shows a dash for income tax benefit; Note 4 reports dashes for current tax, deferred tax and income tax expense/(benefit). The same-period loss and total comprehensive loss remain A$18,882,469.
  • Income tax benefit / FY2026 — 0 (nil): R003617 is a reported_nil record for the matching FY2026 line and basis, with the selected statement row [15] ; zero denotes this line only.
  • Other comprehensive loss, net of tax / FY2022 — 0 (nil; derived): Original FY2022 total comprehensive loss R000449 equals pre-tax loss R000441 with current-year tax nil R000443, giving zero OCI on the same consolidated basis.
  • Other comprehensive loss, net of tax / FY2023 — 0 (nil): R001334 is a reported_nil record for the matching FY2023 line and basis, with the selected statement row [16] ; zero denotes this line only.
  • Other comprehensive loss, net of tax / FY2024 — 0 (nil): R002356 is a reported_nil record for the matching FY2024 line and basis, with the selected statement row [16] ; zero denotes this line only.
  • Other comprehensive loss, net of tax / FY2025 — 0 (nil): FY2025 consolidated profit-or-loss statement explicitly dashes the OCI line; FY2026 changes-in-equity comparative also dashes FY2025 other comprehensive loss across all columns and reconciles total comprehensive loss to A$18,882,469.
  • Other comprehensive loss, net of tax / FY2026 — 0 (nil): R003621 is a reported_nil record for the matching FY2026 line and basis, with the selected statement row [17] ; zero denotes this line only.
  • Fair-value financial asset gain / asset disposal result (distinct source lines) / FY2023 — 0 (nil): R001314 is a reported_nil record for the matching FY2023 line and basis, with the selected statement row [5] ; zero denotes this line only.
  • Fair-value financial asset gain / asset disposal result (distinct source lines) / FY2026 — 0 (nil): R003603 is a reported_nil record for the matching FY2026 line and basis, with the selected statement row [8] ; zero denotes this line only.
  • Unrealised loss on investments / FY2022 — N/P: No separate unrealised-investments line in the selected profit or loss statement for this period.
  • Unrealised loss on investments / FY2023 — N/P: No separate unrealised-investments line in the selected profit or loss statement for this period.
  • Unrealised loss on investments / FY2024 — N/P: No separate unrealised-investments line in the selected profit or loss statement for this period.
  • Unrealised loss on investments / FY2025 — N/P: No separate unrealised-investments line in the selected profit or loss statement for this period.
  • Impairment of receivables / FY2022 — N/P: No separate receivables-impairment line in the selected profit or loss statement for this period.
  • Impairment of receivables / FY2023 — N/P: No separate receivables-impairment line in the selected profit or loss statement for this period.
  • Impairment of receivables / FY2024 — N/P: No separate receivables-impairment line in the selected profit or loss statement for this period.
  • Impairment of receivables / FY2025 — N/P: No separate receivables-impairment line in the selected profit or loss statement for this period.

Source: Dreadnought Resources annual reports; source row and period retained in the evidence bundle.

Attributable loss, weighted-average shares and loss per share

Mixed: A$, shares, cents

MetricFY2022FY2023FY2024FY2025FY2026
Loss attributable to ordinary equity holdersA$-1,433,764-5,521,985-6,319,382-18,882,469-2,616,172
Weighted-average ordinary shares outstandingshares2,774,262,3763,136,162,3453,444,557,4894,067,416,6675,489,244,256
Basic loss per sharecents-0.05-0.18-0.18-0.46-0.05
Diluted loss per sharecents-0.05-0.18-0.18-0.46(0.05)

Loss per share is in cents; share counts are weighted averages, not closing ordinary shares.

The FY2025 weighted-average share count uses the FY2025 report’s current-year EPS table. The FY2026 report’s FY2025 comparative shows a different share count (3,444,557,489); the conflicting comparative is not substituted for the original FY2025 amount.

The FY2025 attributable-loss numerator uses the FY2026 report comparative and agrees with the FY2025 statutory result.

Source: Dreadnought Resources annual reports; source row and period retained in the evidence bundle.

FY2022 result: original and later comparative

A$

MetricFY2022 (original)FY2022 (FY2023 comparative)
Other income (FY2022 comparative)398,28991,927
Gain on fair value of financial asset (FY2022 comparative)50,00050,000
Exploration expenditure (FY2022 comparative)-268,852-268,852
Impairment of exploration expenditure (FY2022 comparative)-123,715-123,715
Loss from continuing operations before income tax (FY2022 comparative)-1,433,764-1,740,126

These are two presentations of FY2022, not two fiscal years. The trend tables use original FY2022 and current-year FY2023 onward.

Source: FY2022 and FY2023 Dreadnought Resources annual reports.

FINANCIAL REVIEW / 02

Balance sheet and liquidity

The carrying value of exploration and evaluation assets is the largest non-current asset at FY2026. Cash and total equity rose after financing inflows; the asset figure is a period-end carrying amount rather than annual cash expenditure. The FY2022 original and later-restated net-asset balances differ.

Closing cash

$

Closing cashCash and cash equivalents: FY2022 2,501,971; FY2023 5,664,368; FY2024 1,448,571; FY2025 10,186,957; FY2026 15,701,84504.4m8.8m13.2m17.6mFY2022FY2023FY2024FY2025FY2026Cash and cash equivalents, FY2022: 2,501,971 $2,501,971Cash and cash equivalents, FY2023: 5,664,368 $5,664,368Cash and cash equivalents, FY2024: 1,448,571 $1,448,571Cash and cash equivalents, FY2025: 10,186,957 $10,186,957Cash and cash equivalents, FY2026: 15,701,845 $15,701,845
Cash and cash equivalents
Consolidated balance-sheet cash at each 30 June.

AI-generated presentation · values from Consolidated statement of financial position at 30 June; no missing values plotted as zero.

Exploration asset carrying value

$

Exploration asset carrying valueExploration and evaluation assets: FY2022 17,660,998; FY2023 42,278,019; FY2024 50,964,784; FY2025 41,588,506; FY2026 54,396,072015.2m30.5m45.7m60.9mFY2022FY2023FY2024FY2025FY2026Exploration and evaluation assets, FY2022: 17,660,998 $17,660,998Exploration and evaluation assets, FY2023: 42,278,019 $42,278,019Exploration and evaluation assets, FY2024: 50,964,784 $50,964,784Exploration and evaluation assets, FY2025: 41,588,506 $41,588,506Exploration and evaluation assets, FY2026: 54,396,072 $54,396,072
Exploration and evaluation assets
Capitalised exploration and evaluation assets at each 30 June.

AI-generated presentation · values from Consolidated statement of financial position at 30 June; no missing values plotted as zero.

Consolidated statement of financial position at 30 June

A$

MetricFY2022FY2023FY2024FY2025FY2026
Cash and cash equivalents$2,501,9715,664,3681,448,57110,186,95715,701,845
Trade and other receivables$86,172348,328115,125246,047490,114
Other assets (current)$150,446446,801433,268439,194310,586
Current financial assets$150,0006,011,72511,72515,00815,008
Total current assets$2,888,58912,471,2222,008,68910,887,20616,517,553
Property, plant and equipment$291,498450,526303,519309,664208,593
Right-of-use assets$198,782160,919123,055105,79058,772
Exploration and evaluation assets$17,660,99842,278,01950,964,78441,588,50654,396,072
Financial assets (non-current, term deposits > 6m)$N/PN/PN/P362,500129,239
Total non-current assets$18,151,27842,889,46451,391,35842,366,46054,792,676
Total assets$21,039,86755,360,68653,400,04753,253,66671,310,229
Trade and other payables$1,222,3134,197,2971,049,788895,7891,236,398
Provisions (current)$95,023144,397169,346198,715231,310
Lease liability (current)$29,74234,19239,21751,93859,076
Total current liabilities$1,347,0784,375,8861,258,3511,146,4421,526,784
Lease liability (non-current)$177,577143,384104,16774,86415,788
Total non-current liabilities$177,577143,384104,16774,86415,788
Total liabilities$1,524,6554,519,2701,362,5181,221,3061,542,572
Issued capital$60,954,15397,104,008105,387,633124,029,232144,124,744
Reserves$770,4181,933,2301,165,100935,117758,611
Accumulated losses$-42,209,359-48,195,822-54,515,204-72,931,989-75,115,698
Net assets / Total equity$19,515,21250,841,41652,037,52952,032,36069,767,657

FY2022 uses the originally reported balance sheet: net assets A$19,515,212. The FY2023 report later restated that FY2022 comparative to A$19,050,734; the two bases are not silently merged.

FY2025 values sourced from the FY2026 report comparative where that is the frozen record selected; they remain FY2025 balances.

FY2025 and FY2026 current financial assets include A$15,008 of term deposits with tenor over six months and maturity within one year; cash equivalents are a separate balance-sheet line.

Basis and presentation notes (3)
  • Financial assets (non-current, term deposits > 6m) / FY2022 — N/P: Selected consolidated statement of financial position shows no separate non-current financial-assets row for this date; non-current total is reported.
  • Financial assets (non-current, term deposits > 6m) / FY2023 — N/P: Selected consolidated statement of financial position shows no separate non-current financial-assets row for this date; non-current total is reported.
  • Financial assets (non-current, term deposits > 6m) / FY2024 — N/P: Selected consolidated statement of financial position shows no separate non-current financial-assets row for this date; non-current total is reported.

Source: Dreadnought Resources annual reports; source row and period retained in the evidence bundle.

FINANCIAL REVIEW / 03

Cash flow and funding

Operating cash flow was negative in all five years. Exploration payments dominated investing outflows; equity issue proceeds drove financing inflows. The cash bridge uses the reported opening and closing balances.

Net operating cash flow

$

Net operating cash flowNet cash from (used in) operating activities: FY2022 -760,890; FY2023 -1,741,790; FY2024 -2,091,042; FY2025 -1,532,411; FY2026 -1,456,221-2.2m-1.6m-983k-366k251kFY2022FY2023FY2024FY2025FY2026Net cash from (used in) operating activities, FY2022: -760,890 $-760,890Net cash from (used in) operating activities, FY2023: -1,741,790 $-1,741,790Net cash from (used in) operating activities, FY2024: -2,091,042 $-2,091,042Net cash from (used in) operating activities, FY2025: -1,532,411 $-1,532,411Net cash from (used in) operating activities, FY2026: -1,456,221 $-1,456,221
Net cash from (used in) operating activities
Reported operating subtotal; negative values are cash used.

AI-generated presentation · values from Operating cash flow; no missing values plotted as zero.

Exploration cash payments

$

Exploration cash paymentsPayments for exploration / exploration and evaluation: FY2022 -6,794,242; FY2023 -18,419,893; FY2024 -17,106,846; FY2025 -7,515,152; FY2026 -10,734,089-19.5m-14.1m-8.7m-3.2m2.2mFY2022FY2023FY2024FY2025FY2026Payments for exploration / exploration and evaluation, FY2022: -6,794,242 $-6,794,242Payments for exploration / exploration and evaluation, FY2023: -18,419,893 $-18,419,893Payments for exploration / exploration and evaluation, FY2024: -17,106,846 $-17,106,846Payments for exploration / exploration and evaluation, FY2025: -7,515,152 $-7,515,152Payments for exploration / exploration and evaluation, FY2026: -10,734,089 $-10,734,089
Payments for exploration / exploration and evaluation
Cash payments for exploration and evaluation, separate from P&L expense.

AI-generated presentation · values from Investing cash flow and exploration payments; no missing values plotted as zero.

Net financing cash flow

$

Net financing cash flowNet cash provided by (used in) financing activities: FY2022 7,737,182; FY2023 32,014,337; FY2024 5,441,356; FY2025 16,897,037; FY2026 17,358,69009.0m17.9m26.9m35.9mFY2022FY2023FY2024FY2025FY2026Net cash provided by (used in) financing activities, FY2022: 7,737,182 $7,737,182Net cash provided by (used in) financing activities, FY2023: 32,014,337 $32,014,337Net cash provided by (used in) financing activities, FY2024: 5,441,356 $5,441,356Net cash provided by (used in) financing activities, FY2025: 16,897,037 $16,897,037Net cash provided by (used in) financing activities, FY2026: 17,358,690 $17,358,690
Net cash provided by (used in) financing activities
Reported financing subtotal.

AI-generated presentation · values from Financing cash flow; no missing values plotted as zero.

Operating cash flow

A$; outflows negative

MetricFY2022FY2023FY2024FY2025FY2026
Payments to suppliers and employees$-1,262,281-2,319,987-2,333,830-1,782,033-2,197,042
Interest received$5,16759,197134,18122,638532,000
Receipts from JV Partner (operating)$502,169375,0000 (nil)Included in combined lineIncluded in combined line
Government grants (operating)$0 (nil)144,0000 (nil)Included in combined lineIncluded in combined line
Other income (operating)$Included in combined lineIncluded in combined line108,607226,984208,821
Interest and other costs of finance paid (operating)$-5,9450 (nil)N/PN/PN/P
Net cash from (used in) operating activities$-760,890-1,741,790-2,091,042-1,532,411-1,456,221
Other operating receipts (JV, grants or other income as reported)A$502,169519,000108,607226,984208,821

The separately shown JV receipts and government grants in early years are not mapped as separate lines in FY2025–FY2026; other income is presented instead.

The combined other-operating-receipts row reconciles the separately presented JV/grant receipts in FY2022–FY2024 with the Other income cash line in FY2025–FY2026. It is a comparison row and must not be added to the component rows again; later component amounts are not separately known.

Basis and presentation notes (13)
  • Receipts from JV Partner (operating) / FY2024 — 0 (nil): R002278 is a reported_nil record for the matching FY2024 line and basis, with the selected statement row [7] ; zero denotes this line only.
  • Receipts from JV Partner (operating) / FY2025 — Included in combined line: Selected FY2025 operating cash statement reports Other income as a combined receipt; it does not separately identify this r-jv-op component.
  • Receipts from JV Partner (operating) / FY2026 — Included in combined line: Selected FY2026 operating cash statement reports Other income as a combined receipt; it does not separately identify this r-jv-op component.
  • Government grants (operating) / FY2022 — 0 (nil): R000387 is a reported_nil record for the matching FY2022 line and basis, with the selected statement row [9] ; zero denotes this line only.
  • Government grants (operating) / FY2024 — 0 (nil): R002280 is a reported_nil record for the matching FY2024 line and basis, with the selected statement row [8] ; zero denotes this line only.
  • Government grants (operating) / FY2025 — Included in combined line: Selected FY2025 operating cash statement reports Other income as a combined receipt; it does not separately identify this r-grants-op component.
  • Government grants (operating) / FY2026 — Included in combined line: Selected FY2026 operating cash statement reports Other income as a combined receipt; it does not separately identify this r-grants-op component.
  • Other income (operating) / FY2022 — Included in combined line: Selected FY2022 operating statement reports JV receipts and grants separately; their cash receipts are preserved in the new combined operating-receipts row, without inventing a separate Other income amount.
  • Other income (operating) / FY2023 — Included in combined line: Selected FY2023 operating statement reports JV receipts and grants separately; their cash receipts are preserved in the new combined operating-receipts row, without inventing a separate Other income amount.
  • Interest and other costs of finance paid (operating) / FY2023 — 0 (nil): R001266 is a reported_nil record for the matching FY2023 line and basis, with the selected statement row [7] ; zero denotes this line only.
  • Interest and other costs of finance paid (operating) / FY2024 — N/P: Not separately presented in this period’s selected operating cash flow statement.
  • Interest and other costs of finance paid (operating) / FY2025 — N/P: Not separately presented in this period’s selected operating cash flow statement.
  • Interest and other costs of finance paid (operating) / FY2026 — N/P: Not separately presented in this period’s selected operating cash flow statement.

Source: Dreadnought Resources annual reports; source row and period retained in the evidence bundle.

Investing cash flow and exploration payments

A$; outflows negative

MetricFY2022FY2023FY2024FY2025FY2026
Funds invested in term deposits$N/P-6,011,7250 (nil)-3,2830 (nil)
Funds released from term deposits$N/PN/P6,000,000NilN/P
Payments for exploration / exploration and evaluation$-6,794,242-18,419,893-17,106,846-7,515,152-10,734,089
Payments for acquisition of tenements$N/P-2,457,595-176,157-592,006-75,800
Government grants received (investing)$N/PN/P2,679,4721,350,388409,895
Fuel tax credits (investing)$N/PN/P179,2065,27039,124
Receipt from JV / Farm-in partner (investing)$N/PN/P846,271NilN/P
Payment for property, plant and equipment$-325,215-253,976-25,330-141,458-26,711
Proceeds from disposal of equipment$N/PN/P37,27320,0010 (nil)
Payments for acquisition of subsidiary$N/P-150,0000 (nil)N/PN/P
Proceeds from sale of financial assets$N/P183,0390 (nil)N/PN/P
Receipts on divestment of tenementsA$N/PN/PN/P250,0000 (nil)
Net cash from (used in) investing activities$-7,119,457-27,110,150-7,566,111-6,626,240-10,387,581

Exploration cash payments differ from expensed exploration and from period-end exploration assets.

FY2022 uses the original cash-flow statement: its two investing components reconcile to the subtotal. The FY2023 report’s FY2022 comparative separately shows a A$30,000 tenement payment, so that later comparative is not mixed into the original FY2022 column.

FY2025 includes A$250,000 receipts on divestment of tenements. Nil and not separately presented are distinguished; original-year columns do not silently inherit later comparative dashes.

Basis and presentation notes (31)
  • Funds invested in term deposits / FY2022 — N/P: Original FY2022 cash-flow statement has no separate term-deposit investment line; R001275 is a later restated comparative dash.
  • Funds invested in term deposits / FY2024 — 0 (nil): R002286 is a reported_nil record for the matching FY2024 line and basis, with the selected statement row [12] ; zero denotes this line only.
  • Funds invested in term deposits / FY2026 — 0 (nil): R003551 is a reported_nil record for the matching FY2026 line and basis, with the selected statement row [9] ; zero denotes this line only.
  • Funds released from term deposits / FY2022 — N/P: No separate term-deposit release line in selected FY2022 cash flow extraction.
  • Funds released from term deposits / FY2023 — N/P: Original FY2023 cash-flow statement has no separate term-deposit release line; its previously cited nil was a later FY2024 comparative dash.
  • Funds released from term deposits / FY2025 — Nil: The statement prints a dash; the extracted numeric zero represents nil.
  • Funds released from term deposits / FY2026 — N/P: No separate term-deposit release line in the selected FY2026 statement.
  • Payments for acquisition of tenements / FY2022 — N/P: Original FY2022 cash-flow statement has no separate tenement-acquisition line; R001279 is a later FY2023 comparative.
  • Government grants received (investing) / FY2022 — N/P: Not separately presented in this period’s selected investing cash flow statement.
  • Government grants received (investing) / FY2023 — N/P: Original FY2023 cash-flow statement has no separate investing grants line; its previously cited nil was a later FY2024 comparative dash.
  • Fuel tax credits (investing) / FY2022 — N/P: Not separately presented in this period’s selected investing cash flow statement.
  • Fuel tax credits (investing) / FY2023 — N/P: Original FY2023 cash-flow statement has no separate fuel tax credits line; its previously cited nil was a later FY2024 comparative dash.
  • Receipt from JV / Farm-in partner (investing) / FY2022 — N/P: Not separately presented in this period’s selected investing cash flow statement.
  • Receipt from JV / Farm-in partner (investing) / FY2023 — N/P: Original FY2023 cash-flow statement has no separate JV investing receipt line; its previously cited nil was a later FY2024 comparative dash.
  • Receipt from JV / Farm-in partner (investing) / FY2025 — Nil: The statement prints a dash; the extracted numeric zero represents nil.
  • Receipt from JV / Farm-in partner (investing) / FY2026 — N/P: No separate JV cash receipt line in the selected FY2026 investing section.
  • Proceeds from disposal of equipment / FY2022 — N/P: Not separately presented in this period’s selected investing cash flow statement.
  • Proceeds from disposal of equipment / FY2023 — N/P: Original FY2023 cash-flow statement has no separate equipment disposal line; its previously cited nil was a later FY2024 comparative dash.
  • Proceeds from disposal of equipment / FY2026 — 0 (nil): R003565 is a reported_nil record for the matching FY2026 line and basis, with the selected statement row [16] ; zero denotes this line only.
  • Payments for acquisition of subsidiary / FY2022 — N/P: Original FY2022 cash-flow statement has no separate subsidiary-acquisition line; R001283 is a later restated comparative dash.
  • Payments for acquisition of subsidiary / FY2024 — 0 (nil): R002304 is a reported_nil record for the matching FY2024 line and basis, with the selected statement row [21] ; zero denotes this line only.
  • Payments for acquisition of subsidiary / FY2025 — N/P: Not separately presented in this period’s selected investing cash flow statement.
  • Payments for acquisition of subsidiary / FY2026 — N/P: Not separately presented in this period’s selected investing cash flow statement.
  • Proceeds from sale of financial assets / FY2022 — N/P: Original FY2022 cash-flow statement has no separate financial-asset sale line; R001285 is a later restated comparative dash.
  • Proceeds from sale of financial assets / FY2024 — 0 (nil): R002306 is a reported_nil record for the matching FY2024 line and basis, with the selected statement row [22] ; zero denotes this line only.
  • Proceeds from sale of financial assets / FY2025 — N/P: Not separately presented in this period’s selected investing cash flow statement.
  • Proceeds from sale of financial assets / FY2026 — N/P: Not separately presented in this period’s selected investing cash flow statement.
  • Receipts on divestment of tenements / FY2022 — N/P: No separate divestment receipts line in original FY2022 investing statement.
  • Receipts on divestment of tenements / FY2023 — N/P: No separate divestment receipts line in selected FY2023 investing statement.
  • Receipts on divestment of tenements / FY2024 — N/P: Original FY2024 cash-flow statement has no separate tenement-divestment line; R002920 is a later FY2025 comparative dash.
  • Receipts on divestment of tenements / FY2026 — 0 (nil): R003555 is a reported_nil record for the matching FY2026 line and basis, with the selected statement row [11] ; zero denotes this line only.

Source: Dreadnought Resources annual reports; source row and period retained in the evidence bundle.

Financing cash flow

A$; outflows negative

MetricFY2022FY2023FY2024FY2025FY2026
Proceeds from issue of shares$8,000,00033,750,0005,628,00018,035,60018,610,000
Proceeds from exercise of options$291,199348,500157,5007,5248,689
Capital raising / share issue costs$-518,843-2,036,207-294,630-1,088,625-1,198,618
Payment of lease liability$-35,174-47,956-49,514-57,462-61,381
Net cash provided by (used in) financing activities$7,737,18232,014,3375,441,35616,897,03717,358,690

Share issue proceeds are cash-flow amounts. Issued capital on the balance sheet also reflects noncash issues and issue costs.

Source: Dreadnought Resources annual reports; source row and period retained in the evidence bundle.

Cash movement and closing cash

A$

MetricFY2022FY2023FY2024FY2025FY2026
Net (decrease)/increase in cash and cash equivalents held$-143,1653,162,397-4,215,7978,738,3865,514,888
Cash and cash equivalents at beginning of year$2,645,1362,501,9715,664,3681,448,57110,186,957
Cash and cash equivalents at end of financial year$2,501,9715,664,3681,448,57110,186,95715,701,845

Net movement plus opening cash reconciles to closing cash in each year.

Source: Dreadnought Resources annual reports; source row and period retained in the evidence bundle.

FINANCIAL REVIEW / 04

Shareholder returns

The directors reported no dividends for the periods shown. Financing activity is detailed in the cash-flow table; dividend status is a different measure from share issue proceeds.

Cash dividends

Status

MetricFY2022FY2023FY2024FY2025FY2026
Dividend payment statusstatusNone declared or paidNone declared or paidNone declared or paidNo dividend paidNo dividend paid

FY2025 is supported by the comparative statement in the FY2026 annual report.

FY2022–FY2024 issuer statements cover both declarations and payments. The FY2026 statement establishes no payment in FY2025–FY2026 but does not separately establish declaration status.

Basis and presentation notes (5)
  • Dividend payment status / FY2022 — None declared or paid: R000002 states no dividend was declared or paid in FY2022; no monetary amount is inferred.
  • Dividend payment status / FY2023 — None declared or paid: R000755 states no dividend was declared or paid in FY2023; no monetary amount is inferred.
  • Dividend payment status / FY2024 — None declared or paid: R001927 states no dividend was declared or paid in FY2024; no monetary amount is inferred.
  • Dividend payment status / FY2025 — No dividend paid: R003194 states no dividends were paid for FY2025; it does not separately establish a declaration decision.
  • Dividend payment status / FY2026 — No dividend paid: R003194 states no dividends were paid for FY2026; it does not separately establish a declaration decision.

Source: Dreadnought Resources directors’ dividend statements.

FINANCIAL REVIEW / 05

Selected project and resource evidence

Dreadnought’s annual reports describe advancing Yin, Star of Mangaroon and Metzke’s Find. Resource tonnages, grades and ounces below are disclosed snapshots, not directly additive across deposits or annual output.

Selected reported Mineral Resource snapshots

Mixed: Mt, % TREO, tonnes, g/t Au and oz

MetricFY2025 disclosureFY2026 disclosure
Yin REE total tonnageMt29.9829.98
Yin REE total TREO grade%1.041.04
Yin REE contained TREO (reported figure; unit disputed)reported figure312.3312.3
Gifford Creek Carbonatite Au total tonnestonnes56,600Not applicable
Gifford Creek Carbonatite Au gradeg/t12.8Not applicable
Gifford Creek Carbonatite Au contained goldoz23,400Not applicable
Star of Mangaroon total tonnestonnesNot applicable75,600
Star of Mangaroon gold gradeg/tNot applicable11.1
Star of Mangaroon contained goldozNot applicable27,000
Metzke’s Find contained goldoz14,90024,900

Resource estimates are snapshots in the annual report, not annual production. No comparative trend is plotted across unlike deposits.

The Yin contained-TREO total is printed as 312.3 under a “TREO (t)” total header while a measured subheader uses kt and the tonnage/grade imply thousands of tonnes. The reported number is retained with disputed scale and is not charted.

The FY2025 gold table is identified as Gifford Creek Carbonatite in the frozen extraction; the FY2026 table is linked to Star of Mangaroon in the issuer operating claim. These labels are kept distinct.

Basis and presentation notes (6)
  • Gifford Creek Carbonatite Au total tonnes / FY2026 disclosure — Not applicable: Gifford Creek Carbonatite Au values belong to the FY2025 disclosure snapshot; the FY2026 selected snapshot describes Star of Mangaroon instead.
  • Gifford Creek Carbonatite Au grade / FY2026 disclosure — Not applicable: Gifford Creek Carbonatite Au values belong to the FY2025 disclosure snapshot; the FY2026 selected snapshot describes Star of Mangaroon instead.
  • Gifford Creek Carbonatite Au contained gold / FY2026 disclosure — Not applicable: Gifford Creek Carbonatite Au values belong to the FY2025 disclosure snapshot; the FY2026 selected snapshot describes Star of Mangaroon instead.
  • Star of Mangaroon total tonnes / FY2025 disclosure — Not applicable: Star of Mangaroon values belong to the FY2026 disclosure snapshot; the FY2025 selected snapshot describes Gifford Creek Carbonatite Au instead.
  • Star of Mangaroon gold grade / FY2025 disclosure — Not applicable: Star of Mangaroon values belong to the FY2026 disclosure snapshot; the FY2025 selected snapshot describes Gifford Creek Carbonatite Au instead.
  • Star of Mangaroon contained gold / FY2025 disclosure — Not applicable: Star of Mangaroon values belong to the FY2026 disclosure snapshot; the FY2025 selected snapshot describes Gifford Creek Carbonatite Au instead.

Source: Selected annual report resource tables and linked issuer explanation records.

Reading the figures

  • Independent source review is pending; this is an unpublished local report.
  • FY2026 diluted loss per share is explicitly (0.05) cents in the parsed consolidated income statement, after the main table; it is no longer a missing value.
  • Some cash-flow components are not separately presented across all five annual statements; they are labelled N/P, not zero.
  • FY2025 income tax benefit and other comprehensive loss remain supported nil as previously reviewed. The FY2026 diluted EPS cell is now supported by the parsed statement text.
  • 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

  • Annual Report to ShareholdersIssuer: Dreadnought Resources Ltd; year ended 2022-06-30; document dated 2022-09-28.
  • Annual Report to ShareholdersIssuer: Dreadnought Resources Ltd; year ended 2023-06-30; document dated 2023-09-19.
  • Annual Report to Shareholders - 30 June 2024Issuer: Dreadnought Resources Ltd; year ended 2024-06-30; document dated 2024-09-03.
  • Annual Report to Shareholders - 30 June 2025Issuer: Dreadnought Resources Ltd; year ended 2025-06-30; document dated 2025-09-12.
  • Annual Report to Shareholders - 30 June 2026Issuer: Dreadnought Resources Ltd; year ended 2026-06-30; document dated 2026-09-17.

Prepared from the existing annual extraction datasets, supplemented only by selected same-company annual-report tables and saved row interpretations. No new raw-document extraction or web financial research was used for this test.

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AI-led method

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