FY2021
Cash strengthened
Financing more than offset operating cash use; some investment proceeds also supported liquidity.
ASX: ENT · Five-year financial review
(ASX: ENT) Enterprise Metals Financial Review - FY2021~25
Enterprise Metals’ FY2021-FY2025 financial review follows exploration spending, asset impairments and repeated funding rounds. Cash recovered from the FY2024 low, but the latest accounts still disclose a working-capital deficit and material going-concern uncertainty.
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$0.681m
Group, 30 June.
Net loss
A$2.254m
Includes impairment.
Exploration impairment
A$1.540m
Not current-period cash spending.
Net current liabilities
A$0.325m
Funding constraint remains.
Five years in context
Enterprise focuses on mineral exploration in Western Australia. Exploration assets dominate the available earlier balance sheets, but impairment and asset additions mean their book value is not a measure of annual cash spending.
The FY2025 entitlement offer and shortfall placement replenished funding. Later July and September 2025 placements are subsequent events, not part of the June cash balance.
Events behind the numbers
FY2022
Cash begins to decline
Operating and investing outflows exceeded net financing.
FY2023
Exploration impairment
A$1.630m of capitalised exploration was impaired, widening the accounting loss as cash also declined.
FY2024
Liquidity reaches a low
Lower spending did not prevent cash falling to A$78,137; another exploration impairment affected the loss.
FY2025
Funding and further impairment
Entitlement and shortfall issues raised funds, while an A$1.540m impairment reduced exploration carrying values.
FINANCIAL REVIEW / 01
Cash recovery is not the same as full funding
Cash improved, but the group still had net current liabilities. The issuer identifies equity raising as its main funding source and says it does not have ready access to credit facilities.
Cash at year end
A$ million
Cash and equivalents
AI-generated presentation · values from Liquidity and net assets; no missing values plotted as zero.
Net assets
A$ million
Total equity / net assets
AI-generated presentation · values from Liquidity and net assets; no missing values plotted as zero.
Liquidity and net assets
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and equivalents | 1.482 | 1.062 | 0.317 | 0.078 | 0.681 |
| Total equity / net assets | 7.700 | 7.520 | 5.754 | 5.272 | 4.259 |
FY2025 cash is explicitly stated in the existing auditor-summary extraction; parent-only cash is not substituted. Net assets are not available cash.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Earlier consolidated asset composition
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 |
|---|---|---|---|---|
| Total assets | 7.880 | 7.809 | 6.083 | 5.957 |
| Exploration and evaluation assets | 6.263 | 6.519 | 5.688 | 5.491 |
FY2025 full consolidated asset composition is not retained in this packet. Do not substitute the parent-only balance sheet.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 02
Impairment and spending tell different stories
The FY2025 loss includes a write-down of expenditure on tenements where no viable resource had been identified and further exploration was unlikely. This is distinct from cash paid during the year.
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.
Net investment cash
A$ million
Net investing cash flow
AI-generated presentation · values from Investment cash flow; no missing values plotted as zero.
Net financing, FY2021-FY2024
A$ million
Net financing cash flow
AI-generated presentation · values from Available net-financing series; no missing values plotted as zero.
Loss and operating cash
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Net loss after tax | (1.654) | (1.168) | (2.487) | (1.170) | (2.254) |
| Net operating cash flow | (1.554) | (1.077) | (0.838) | (0.323) | (0.526) |
FY2023-FY2025 losses include exploration-asset impairment; impairment is not a cash outflow of the same period.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Investment cash flow
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Net investing cash flow | 0.140 | (0.281) | (0.498) | (0.249) | (0.607) |
Investing includes capitalised exploration plus receipts; other exploration spending appears within operating activities.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Available net-financing series
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 |
|---|---|---|---|---|
| Net financing cash flow | 1.889 | 0.939 | 0.591 | 0.333 |
FY2025 net financing total is missing from the packet. Entitlement-offer gross proceeds are discussed as events, not inserted as a cash-flow total.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 03
Subsequent funding stays outside June figures
July’s placement and September’s second tranche occur after year end; the second tranche combines cash proceeds with a loan-to-equity conversion. Supplier shares and new lease liabilities are also non-cash items.
The auditor identifies material uncertainty related to going concern. Management’s expectation of recovering the remaining exploration assets is not a guarantee of development success or near-term cash recovery.
Reading the figures
- FY2025 consolidated total assets/exploration closing balance and net-financing cash total are not established in this packet. Supported FY2025 cash, equity, loss and outflows remain presented.
- No subsequent placement is backdated and no non-cash conversion is treated as a cash receipt.
- 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
- Enterprise Metals - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Enterprise Metals - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Enterprise Metals - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Enterprise Metals - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Enterprise Metals - 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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