FY2022
Funding and exploration
Financing inflows supported group exploration and operating expenditure.
ASX: GBR · Five-year financial review
(ASX: GBR) Great Boulder Resources Financial Review - FY2022~26
Great Boulder’s FY2022-FY2026 review spans Side Well exploration, the loss of control of Cosmo Metals and the Peak Hill acquisition. The balance-sheet expansion in FY2026 was transaction-led; the large FY2024 loss was mainly shaped by deconsolidation and impairment rather than cash spent that year.
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$18.283m
30 June balance.
Exploration assets
A$85.778m
Includes acquired project assets.
Net financing
A$46.963m
FY2026 cash flow.
Total group loss
A$9.929m
FY2026 after tax.
Five years in context
The company lost control of Cosmo in March 2024, retaining an investment subsequently measured at fair value. Earlier consolidated totals therefore do not describe exactly the same operating perimeter as later years.
Peak Hill was acquired on 30 June 2026 for cash, shares and a royalty. Its inclusion at the balance date must not be read as five years of group production or a full year of operating contribution.
Events behind the numbers
FY2023
Exploration assets expand
The group exploration carrying value increased despite a declining cash balance.
FY2024
Cosmo leaves consolidation
Dilution caused loss of control and a large deconsolidation charge.
FY2025
Funding rebuilds liquidity
Financing lifted closing cash while the company continued exploration.
FY2026
Peak Hill acquisition
The June transaction and associated capital raising changed the scale of the group.
FINANCIAL REVIEW / 01
Funding a larger project base
FY2026 investing cash outflow was much larger than operating outflow. Both cash and non-cash share consideration contributed to expansion, so cash spending alone cannot explain the increase in assets.
Cash at year-end
A$ million
Cash and equivalents
AI-generated presentation · values from Group financial position; no missing values plotted as zero.
Assets and equity
A$ million
Total assetsTotal equity including non-controlling interests
AI-generated presentation · values from Group financial position; no missing values plotted as zero.
Cash flow by activity
A$ million
Net operating cash flowNet investing cash flowNet financing cash flow
AI-generated presentation · values from Cash use and financing; no missing values plotted as zero.
Group financial position
A$ million
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Cash and equivalents | 9.078 | 4.937 | 2.928 | 12.478 | 18.283 |
| Total assets | 26.276 | 31.284 | 22.414 | 36.631 | 107.823 |
| Total equity including non-controlling interests | 25.741 | 29.829 | 21.454 | 35.028 | 103.009 |
| Exploration and evaluation carrying value | 16.353 | 25.332 | 17.237 | 22.316 | 85.778 |
Group scope changes when Cosmo control is lost in March 2024 and Peak Hill is acquired in June 2026; not a constant-asset series.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Cash use and financing
A$ million
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Net operating cash flow | (1.998) | (1.949) | (1.982) | (1.569) | (2.128) |
| Net investing cash flow | (7.063) | (8.307) | (6.020) | (4.854) | (39.030) |
| Net financing cash flow | 11.378 | 6.115 | 5.992 | 15.974 | 46.963 |
Earlier group cash includes the subsidiary until control is lost. FY2026 investment includes the acquisition programme.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 02
Read accounting charges before judging the loss trend
FY2024 combined A$9.068m deconsolidation loss and A$3.929m exploration impairment. The owner-attributable result is not substituted for total group loss in this series.
The Peak Hill transaction also generated A$3.846m of expensed unidentifiable goods or services under the retained AASB2 explanation. Shares issued for acquisitions are not equivalent to cash expenses.
Expired options over Polelle and Wanganui, plus expired or relinquished Side Well tenements, generated FY2026 write-downs. Carrying-value reductions do not imply that cash was paid again.
Group loss after tax
A$ million
Loss after tax, before attribution to non-controlling interests
AI-generated presentation · values from Total group loss after tax; no missing values plotted as zero.
FY2024 selected non-cash charges
A$ million
Loss on deconsolidation of CosmoExploration impairment
AI-generated presentation · values from Selected FY2024 charges; no missing values plotted as zero.
Total group loss after tax
A$ million
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Loss after tax, before attribution to non-controlling interests | (3.294) | (3.574) | (15.439) | (3.416) | (9.929) |
FY2024 total loss is A$15.439m; the A$15.128m owner-attributable loss is a different measure.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Selected FY2024 charges
A$ million
| Metric | FY2024 |
|---|---|
| Loss on deconsolidation of Cosmo | (9.068) |
| Exploration impairment | (3.929) |
Non-cash accounting charges; not current-year cash payments or a complete loss reconciliation.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 03
Production pathway is not realised production history
The Peak Hill ore-purchase agreement provides a processing pathway at Westgold mills. This is not a retained five-year sales-volume series, and no production or sales volume has been invented.
Resource estimates, milestone-based awards and royalty terms are distinct from revenue. The dated December 2025 resource announcement is supported by the detailed event disclosure rather than a conflicting forward-dated footnote.
Reading the figures
- FY2022-FY2026 June series; consolidation scope changes are explicit.
- FY2026 resource footnote dating is inconsistent; detailed December2025 event used instead.
- No acquisition-derived resource valuation or forecast revenue is calculated.
- 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
- Great Boulder Resources - Annual Report to ShareholdersExisting annual extraction, including separately identified historical comparatives.
- Great Boulder Resources - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Great Boulder Resources - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Great Boulder Resources - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Great Boulder Resources - 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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