FY2021
Cash rebuilt
Net financing exceeded operating and investing use, lifting the year-end cash buffer.
ASX: FIN · Five-year financial review
(ASX: FIN) Fin Resources Financial Review - FY2021~25
Fin Resources’ FY2021-FY2025 review follows cash consumption, a Sol Mar entry and exit, and a shift toward Canadian lithium and Australian copper exploration. The smaller FY2025 loss partly reflects the absence of the earlier project write-offs; it is not evidence of commercial mining income.
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$0.647m
30 June balance.
Net loss
A$0.612m
No FY2025 exploration write-off.
Exploration assets
A$2.393m
Capitalised costs, not resource value.
Working capital
A$0.427m
Net current assets, not cash.
Five years in context
The company acquired 80% of Sol Mar in FY2022, then withdrew in FY2024 and fully impaired that project. Meanwhile, the May 2023 Mt Tremblant acquisition brought Canadian lithium exposure.
Capitalised exploration remains much larger than cash. Its recovery depends on future project outcomes and should not be presented as either a mineral valuation or money available to fund the next programme.
Events behind the numbers
FY2022
Sol Mar acquisition
An 80% interest was acquired using shares plus A$500,000 cash; expenses included share-based charges.
FY2023
Canadian lithium entry
Mt Tremblant was acquired with cash and shares, plus a resource-linked contingent share payment.
FY2024
Sol Mar exit
The joint venture withdrawal and full impairment redirected focus to core projects.
FY2025
Lower reported cash use
Operating and investing outflows fell, but capital access remained a going-concern condition.
FINANCIAL REVIEW / 01
Cash and capitalised costs move differently
The FY2025 asset total is available in the consolidated segment summary. Equity below is an explicitly labelled calculation from that total and liabilities; geographical components are not translated or recombined.
Cash and exploration carrying value
A$ million
Cash and equivalentsCapitalised exploration and evaluation
AI-generated presentation · values from Cash and financial position; no missing values plotted as zero.
Cash and financial position
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and equivalents | 5.043 | 3.394 | 2.270 | 0.880 | 0.647 |
| Total assets | 5.999 | 7.308 | 5.838 | 3.421 | 3.152 |
| Total equity | 5.646 | 7.240 | 5.728 | 2.683 | 2.820 |
| Capitalised exploration and evaluation | 0.900 | 3.852 | 3.509 | 2.323 | 2.393 |
FY2025 assets use the explicitly consolidated segment total; FY2025 equity is calculated from total assets minus total liabilities.
Country-component currency tags in the extraction are inconsistent; no Australian/Canadian mixed-currency sum is constructed. Consolidated AUD totals are used.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 02
Lower losses are not a revenue turnaround
The largest losses coincide with non-cash charges. Sol Mar’s FY2024 write-off contrasts with nil exploration write-offs in FY2025; recurring operating cash use nevertheless remained negative.
Directors and a technical adviser received shares instead of cash for disclosed fee periods. This affects the relation between expense and cash flow; it is not ordinary operating cash inflow.
Net loss and operating cash
A$ million
Consolidated net lossNet operating cash flow
AI-generated presentation · values from Loss, write-offs and operating cash; no missing values plotted as zero.
Exploration write-offs
A$ million
Exploration expenditure written off
AI-generated presentation · values from Loss, write-offs and operating cash; no missing values plotted as zero.
Investing and financing cash
A$ million
Net investing cash flowNet financing cash flow
AI-generated presentation · values from Investing and financing cash; no missing values plotted as zero.
Loss, write-offs and operating cash
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Consolidated net loss | (0.880) | (5.015) | (2.649) | (3.606) | (0.612) |
| Exploration expenditure written off | (0.275) | (0.911) | (1.764) | (2.818) | 0.000 |
| Net operating cash flow | (0.474) | (1.154) | (0.575) | (0.608) | (0.172) |
Write-offs are included within net loss and are not added to it. The FY2025 write-off line is reported nil, not an inferred missing value.
FY2022 loss also includes A$3.003m share-based payments.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Investing and financing cash
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Net investing cash flow | (0.444) | (1.690) | (1.067) | (1.229) | (0.506) |
| Net financing cash flow | 2.482 | 1.195 | 0.517 | 0.448 | 0.445 |
Share consideration for acquisitions and fees is not counted again as financing cash or cash investment.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 03
Project interests and funding conditions
McKenzie Springs is a 70% FIN / 30% Cazaly project; that working interest is not multiplied into the group cash figures. The Mt Tremblant resource milestone is conditional, not a payment assumed to have occurred.
Both directors and the auditor identified material going-concern uncertainty; the auditor did not modify the opinion. The post-June McKenzie survey timetable is a plan, not completed work as of the balance date.
Reading the figures
- FY2025 total assets and liabilities come from the consolidated segment summary; equity is a transparent subtraction. Country-specific CAD/AUD metadata is not used for currency conversion.
- Resource milestones and post-year-end exploration plans remain conditional or prospective.
- 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
- Fin Resources - Annual Report - 30 June 2021Existing annual extraction, including separately identified historical comparatives.
- Fin Resources - Annual Report - 30 June 2022Existing annual extraction, including separately identified historical comparatives.
- Fin Resources - Annual Report - 30 June 2023Existing annual extraction, including separately identified historical comparatives.
- Fin Resources - Annual Report - 30 June 2024Existing annual extraction, including separately identified historical comparatives.
- Fin Resources - Annual Report - 30 June 2025Existing 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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