FY2021
Small cash base
Financing supported operating and exploration-related investment outflows.
ASX: ENV · Five-year financial review
(ASX: ENV) Enova Mining Financial Review - FY2021~25
Enova Mining’s FY2021-FY2025 calendar-year review shows a larger exploration asset base after expansion into Brazil. The FY2024 loss spike includes substantial share-based remuneration, while reported cash remains small relative to capitalised project expenditure.
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$0.190m
31 December balance.
Net loss
A$1.573m
Calendar-year result.
Exploration assets
A$10.528m
Capitalised book value.
Operating cash
A$1.105m used
Annual operating outflow.
Five years in context
Enova established Brazilian operations in FY2024 alongside its Australian exploration portfolio. Acquisition consideration included shares, so growth in exploration assets cannot be treated as an equal amount of cash invested.
The financial statements are presented in Australian dollars even though foreign subsidiaries use Brazilian real and Malaysian ringgit. Translation effects are not new cash financing.
Events behind the numbers
FY2022
Additional funding
Net financing increased liquidity while exploration assets grew modestly.
FY2023
Funding ahead of expansion
A$1.5m net financing raised year-end cash ahead of the Brazil operating build-out.
FY2024
Brazil acquisitions and remuneration
Brazilian operations began; share-based consideration and non-cash remuneration complicate simple cash-versus-loss comparisons.
FY2025
Further exploration and placements
Drilling and metallurgical work continued, with January and August placements and further share consideration during the year.
FINANCIAL REVIEW / 01
Project assets are not liquid reserves
Exploration assets make up most of the balance sheet. They are accumulated carrying values rather than ore reserves, project valuations or funds that can immediately pay operating bills.
Cash at December year end
A$ million
Cash and equivalents
AI-generated presentation · values from Consolidated liquidity and capital; no missing values plotted as zero.
Total assets and exploration assets
A$ million
Total assetsExploration and evaluation assets
AI-generated presentation · values from Consolidated liquidity and capital; no missing values plotted as zero.
Consolidated liquidity and capital
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and equivalents | 0.065 | 0.226 | 0.939 | 0.133 | 0.190 |
| Total assets | 4.596 | 4.865 | 5.977 | 9.578 | 10.875 |
| Total equity | 4.147 | 4.829 | 5.941 | 9.500 | 10.491 |
| Exploration and evaluation assets | 4.443 | 4.602 | 4.953 | 9.378 | 10.528 |
Calendar-year accounts presented in A$ million. Exploration is included within assets, not additional to them.
FY2022 cash uses the balance-sheet A$226,197; a cash-flow extraction differs by A$1. This is retained in the issue log, without inventing a correction.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 02
The loss spike is largely a non-cash remuneration story
FY2024 share-based payment expense explains most of that year’s large statutory loss. The smaller FY2025 loss does not by itself signal stronger cash generation: operating outflow increased.
Net loss and operating cash
A$ million
Net loss after taxNet operating cash flow
AI-generated presentation · values from Net loss and operating cash; no missing values plotted as zero.
Investing and net financing, FY2021-FY2024
A$ million
Net investing cash flowNet financing cash flow
AI-generated presentation · values from Available investing and financing cash; no missing values plotted as zero.
Net loss and operating cash
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Net loss after tax | (0.171) | (0.164) | (0.388) | (6.771) | (1.573) |
| Net operating cash flow | (0.128) | (0.114) | (0.420) | (0.719) | (1.105) |
FY2024 loss includes A$5.998m share-based payment expense. FY2022 uses the income statement result corroborated by later comparatives, not the differing cash-reconciliation starting point.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Available investing and financing cash
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 |
|---|---|---|---|---|
| Net investing cash flow | (0.107) | (0.159) | (0.367) | (4.441) |
| Net financing cash flow | 0.250 | 0.435 | 1.500 | 4.354 |
FY2022 financing is an inflow despite the extracted row label saying used.
FY2025 complete net investing/financing totals are not retained; gross placements and non-cash consideration are not substituted.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 03
Audit emphasis and later funding
The auditor emphasised the basis of evaluation of mining tenements and the potential going-concern implications if that valuation proves incorrect, without modifying the opinion. This is more specific than a generic exploration-risk warning.
The A$2m placement disclosed after year end is non-adjusting. It is not included in the December cash figure, and foreign-currency translation movements are separately recognised in equity.
Reading the figures
- FY2025 full investing/financing totals are missing from the frozen extraction; existing gross-placement narrative is not a replacement.
- FY2022 cash differs by A$1 across extracted statements; FY2022 loss also has a differing reconciliation entry. Face income statement and balance-sheet series are selected explicitly.
- 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
- Enova Mining - Full Year Statutory AccountsExisting annual extraction, including separately identified historical comparatives.
- Enova Mining - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Enova Mining - 2023 Annual Report to ShareholdersExisting annual extraction, including separately identified historical comparatives.
- Enova Mining - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Enova Mining - 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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AI-led method
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