FY2021
Funding builds cash
Financing exceeded operating and investing cash use, establishing a larger cash base.
ASX: EL8 · Five-year financial review
(ASX: EL8) Elevate Uranium Financial Review - FY2021~25
Elevate Uranium’s FY2021-FY2025 record combines growing exploration and development expense with periodic equity funding. The latest cash increase follows a placement, while the U-pgrade pilot programme remains development activity rather than commercial uranium production.
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.
FY2025 cash
A$21.714m
Consolidated balance.
Net loss
A$12.324m
Annual result.
Operating cash
A$11.622m used
Includes exploration activity.
Net financing
A$23.217m
After cash financing costs.
Five years in context
Exploration and development costs are expensed as incurred; acquisition costs are capitalised separately when recoverable. This makes operating cash flow and the exploration expense row central to understanding the funding requirement.
The FY2025 report describes pilot construction and the subsequent August shipment to Namibia. It does not make the pilot’s output or resources into realised company sales in these financial tables.
Events behind the numbers
FY2022
Further equity-backed activity
Another substantial financing inflow supported higher exploration expense and cash.
FY2023
Cash drawn down
Limited net financing accompanied higher operating cash outflows.
FY2024
More exploration with new funding
Financing largely offset operating cash use while exploration expense rose.
FY2025
Placement and pilot construction
Two placement tranches funded activity; pilot shipment to Namibia occurred after June year-end.
FINANCIAL REVIEW / 01
Cash reflects capital raising, not production receipts
The placement strengthened cash despite higher annual expenditure. Management nevertheless indicated that maintaining current activity could require further capital within the next twelve months.
Closing cash
A$ million
Cash and equivalents
AI-generated presentation · values from Cash and consolidated capital; no missing values plotted as zero.
Assets and equity
A$ million
Total assetsTotal equity
AI-generated presentation · values from Cash and consolidated capital; no missing values plotted as zero.
Cash and consolidated capital
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and equivalents | 6.661 | 15.811 | 10.058 | 10.834 | 21.714 |
| Total assets | 9.956 | 19.331 | 12.539 | 13.260 | 25.458 |
| Total equity | 9.527 | 18.493 | 11.518 | 11.779 | 23.886 |
Project resources are not financial assets measured by multiplying metal pounds by price. Consolidated equity is distinct from issuer market capitalisation.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 02
Operating cash is the main spending signal
The small investing line in earlier years does not mean little exploration. The expense policy places ongoing work in operating cash; later pilot construction also creates an intangible development asset.
Loss and operating cash
A$ million
Net loss after taxNet operating cash flow
AI-generated presentation · values from Loss and operating cash; no missing values plotted as zero.
Financing and investing cash
A$ million
Net financing cash flowNet investing cash flow
AI-generated presentation · values from Investment and net funding cash; no missing values plotted as zero.
Loss and operating cash
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Net loss after tax | (2.604) | (5.664) | (8.635) | (10.752) | (12.324) |
| Net operating cash flow | (2.335) | (4.378) | (5.827) | (9.245) | (11.622) |
FY2022 loss uses the later FY2023 comparative A$5.664m, not the earlier A$5.730m extraction. The packet does not fully explain this difference; the selected edition is explicit.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Investment and net funding cash
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Net investing cash flow | (0.061) | (0.138) | (0.075) | (0.074) | (0.714) |
| Net financing cash flow | 7.992 | 13.666 | 0.159 | 10.093 | 23.217 |
Exploration is expensed through operations; investing alone is not total exploration expenditure. Net financing differs from gross placement announcements.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 03
Separate exploration expense and non-cash remuneration
Share-based payments contribute to accounting losses without the same-period cash outflow. The comparison uses later available exploration classifications, while retaining the unresolved differences between source editions.
Exploration and share-based expenses
A$ million
Exploration and evaluation expenseShare-based employee/payments expense
AI-generated presentation · values from Exploration and equity-based expenses; no missing values plotted as zero.
Exploration and equity-based expenses
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Exploration and evaluation expense | (1.266) | (3.097) | (4.611) | (6.955) | (8.441) |
| Share-based employee/payments expense | (0.128) | (0.952) | (1.574) | (1.129) | (1.245) |
Negative expense impact. FY2023 exploration uses the later FY2024 comparative A$4.611m rather than the A$4.230m earlier extract; the reason for the classification difference is not fully retained.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Reading the figures
- FY2022 loss and FY2023 exploration expense differ between annual extracts; later comparatives are used but the reasons remain incompletely explained.
- August 2025 pilot shipment is a subsequent event, not a June commissioning or sales claim.
- Resource quantities, metallurgical development and acquisition carrying values are not converted into forecast revenues or reserves valuation.
- 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
- Elevate Uranium - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Elevate Uranium - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Elevate Uranium - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Elevate Uranium - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Elevate Uranium - 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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