FY2022
Initial funding base
Financing supported investment and left a larger closing cash balance.
ASX: DUN · Five-year financial review
(ASX: DUN) Dundas Minerals Financial Review - FY2022~26
Dundas’s FY2022-FY2026 financial record shows exploration assets, repeated funding and a shift toward Western Australian gold projects. Cash recovered in the latest year while the loss widened, reflecting substantial exploration and share-based-payment expenses.
Reading the figures: Units are stated above each table or beside the metric. Brackets denote negative amounts. Supported nil is shown as zero; unlike reporting bases remain separately labelled.
FY2026 cash
A$1.877m
Balance at 30 June.
Net loss
A$5.048m
Includes non-cash charges.
Net financing
A$3.243m
Cash-flow statement amount.
Exploration asset
A$3.404m
Carrying value, not valuation.
Five years in context
Rockland’s option was exercised in April 2026 for cash consideration and a production royalty. Romano is different: the agreement permits an 80% interest to be earned through specified exploration spending, so it is not described here as an unconditionally completed 80% acquisition.
A strategic reset and new project activity do not remove funding risk. The auditor highlighted material uncertainty related to going concern, alongside reliance on raising capital and controlling expenditure.
Events behind the numbers
FY2023
Exploration assets grow
Capitalised exploration increased as investing outflows exceeded operating outflows.
FY2024
Asset reduction and a larger loss
Exploration carrying value fell and the annual loss widened; the report keeps that accounting movement distinct from cash use.
FY2025
Cash cushion narrows
Financing did not cover investing and operating outflows, leaving lower cash.
FY2026
Gold portfolio reshaped
Rockland ownership was acquired, Romano earn-in work began and an external tenement option was terminated.
FINANCIAL REVIEW / 01
Funding rebuilds cash, not operating profit
The latest financing inflow more than covered investing and operating cash outflows. Net financing is the consistent comparison: the packet’s narratives disagree on gross placement totals, so they are not used as a cash-flow substitute.
Closing cash
A$ million
Cash and equivalents
AI-generated presentation · values from Cash, assets and equity; no missing values plotted as zero.
Assets and equity
A$ million
Total assetsTotal equity
AI-generated presentation · values from Cash, assets and equity; no missing values plotted as zero.
Cash, assets and equity
A$ million
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Cash and equivalents | 3.557 | 1.940 | 1.735 | 0.728 | 1.877 |
| Total assets | 6.320 | 7.655 | 5.451 | 5.064 | 5.519 |
| Total equity | 6.020 | 7.468 | 4.551 | 4.267 | 4.589 |
Accounting assets include exploration carrying values and are not cash available for spending.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 02
Loss and cash consumption separate in FY2026
The latest loss includes A$1.447m of share-based payments and A$2.458m labelled exploration expense. Neither should be read as an equivalent amount of cash paid in the year.
Loss and operating cash
A$ million
Net loss from continuing operationsNet operating cash flow
AI-generated presentation · values from Reported loss and operating cash; no missing values plotted as zero.
Funding and investment
A$ million
Net financing cash flowNet investing cash flow
AI-generated presentation · values from Investing and financing cash; no missing values plotted as zero.
Reported loss and operating cash
A$ million
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Net loss from continuing operations | (0.842) | (0.603) | (4.078) | (1.133) | (5.048) |
| Net operating cash flow | (0.480) | (0.579) | (0.492) | (0.516) | (0.834) |
FY2023 cash flow uses the FY2024 comparative; FY2025 uses the FY2026 comparative. The later editions reallocate amounts between operating and financing categories without changing the net annual cash movement.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Investing and financing cash
A$ million
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Net investing cash flow | (2.242) | (3.032) | (1.169) | (1.240) | (1.260) |
| Net financing cash flow | 5.381 | 1.994 | 1.457 | 0.748 | 3.243 |
Later cash-flow comparative classifications are selected consistently with the operating series. Financing includes more than gross placements.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 03
Project rights and capitalised costs carry conditions
The Romano earn-in requires A$2m exploration over two years and includes further grant-dependent consideration. The report does not value those rights as proven production or reserves.
Latest exploration and share-based expenses
A$ million
Exploration expenseShare-based payment expense
AI-generated presentation · values from Exploration asset and latest expense profile; no missing values plotted as zero.
Exploration asset and latest expense profile
A$ million
| Metric | FY2025 | FY2026 |
|---|---|---|
| Exploration carrying amount | 4.090 | 3.404 |
| Exploration expense | (0.380) | (2.458) |
| Share-based payment expense | 0.000 | (1.447) |
Carrying amount is a balance-date asset; expenses are annual negative profit-and-loss components. They are not additive measures of cash spending.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Reading the figures
- The frozen packet disagrees on gross FY2026 placement totals; statement net financing is used instead.
- The packet contains differing option-interest percentages for other Kalgoorlie tenements; no consolidated ownership percentage is asserted.
- FY2023 and FY2025 cash classifications use later comparatives; the extraction does not fully explain the reallocations.
- Going-concern material uncertainty remains part of the reading, not an issue removed by preparing this report.
- Prepared from existing year-by-year extraction records only. No raw-source retrieval, database query, financial web research or MiniMax call. Primary-author review, not an independent original-document audit; published.
Annual-report source registry
- Dundas Minerals - Annual Financial ReportExisting annual extraction, including separately identified historical comparatives.
- Dundas Minerals - Annual Report to ShareholdersExisting annual extraction, including separately identified historical comparatives.
- Dundas Minerals - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Dundas Minerals - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Dundas Minerals - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
Prepared solely from the existing year-by-year extraction datasets. No raw annual-report body, PDF, new database lookup or financial web research was used. Review is against those stored extractions, not a new independent original-document audit.
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