FY2021
Low opening liquidity
The year closed with A$50,000 cash and a much larger exploration balance.
ASX: GCR · Five-year financial review
(ASX: GCR) Golden Cross Resources Financial Review - FY2021~25
Golden Cross’ FY2021-FY2025 finances show a relatively stable exploration asset base but increasing borrowings and declining equity. The Copper Hill project remains central, while very limited cash and reliance on lender support distinguish project potential from present funding capacity.
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$0.081m
A$81,000, not zero.
Total borrowings
A$9.061m
Includes accrued funding obligations.
Net assets
A$3.580m
Consolidated equity.
Finance costs
A$0.529m
FY2025 P&L expense.
Five years in context
Copper Hill tenure was renewed, but a licence extension is not a mine-development funding commitment or evidence of production. The company remained reliant on financing support.
A historical 2017 project valuation is mentioned in the extraction, but no updated valuation had been completed. It is not escalated using commodity prices or presented as the FY2025 balance-sheet value.
Events behind the numbers
FY2022
Financing replenishes cash
Net financing inflow exceeded operating and investing outflows.
FY2023
Cash buffer falls
Cash decreased as operating, investing and financing categories all showed outflows.
FY2024
Borrowings rise
Current and non-current borrowing balances together increased while equity declined.
FY2025
Tenure and loan extensions
Project licences were renewed and loan maturity dates extended, but funding uncertainty remained.
FINANCIAL REVIEW / 01
Rising debt against a small cash buffer
Closing borrowings greatly exceed available cash. The current/non-current split changed following maturity extensions, so this review compares total borrowings rather than treating reclassification as repayment.
Cash at year-end
A$ million
Cash and equivalents
AI-generated presentation · values from Project assets, borrowings and equity; no missing values plotted as zero.
Borrowings and equity
A$ million
Total borrowingsTotal equity
AI-generated presentation · values from Project assets, borrowings and equity; no missing values plotted as zero.
Operating, investing and financing cash
A$ million
Net operating cash flowNet investing cash flowNet financing cash flow
AI-generated presentation · values from Cash movements; no missing values plotted as zero.
Project assets, borrowings and equity
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and equivalents | 0.050 | 1.492 | 0.056 | 0.018 | 0.081 |
| Consolidated total assets | 12.657 | 14.260 | 13.050 | 13.143 | 13.373 |
| Total equity | 7.048 | 7.196 | 5.938 | 4.749 | 3.580 |
| Exploration carrying amount | 12.404 | 12.598 | 12.829 | 13.003 | 13.203 |
| Total borrowings | 5.263 | 6.945 | 6.996 | 7.965 | 9.061 |
FY2025 total assets calculated as liabilities plus equity. Borrowings include current and non-current balances; classification changes are not new borrowing.
FY2025 exploration source is in dollars while earlier values are in thousands; all displayed here in A$ million.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Cash movements
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Net operating cash flow | (0.294) | (0.765) | (0.576) | (0.230) | (0.199) |
| Net investing cash flow | (0.109) | (0.356) | (0.359) | (0.252) | (0.304) |
| Net financing cash flow | 0.386 | 2.563 | (0.501) | 0.444 | 0.566 |
FY2023 financing is an outflow despite the generic source label “inflow”.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 02
Losses exceed operating cash outflow
Finance costs and exploration write-offs contribute to the accounting loss. Borrowing interest may accrue rather than be paid immediately, so a modest operating cash outflow is not proof of a low economic funding burden.
Loss after tax
A$ million
Loss after tax
AI-generated presentation · values from Reported loss after tax; no missing values plotted as zero.
Reported loss after tax
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Loss after tax | (0.889) | (1.280) | (1.258) | (1.189) | (1.168) |
FY2024 original report loss A$1.189m retained; FY2025 comparative shows A$1.190m without a retained reconciliation.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 03
Undrawn facilities and uncertainty
Undrawn portions of loan facilities are not included in cash. The auditor identified material uncertainty over going concern and a current-liability excess over current assets.
Exploration expenditure outside Copper Hill was impaired. The surviving carrying amount depends on recoverability; it is not a current sale price, cash reserve or contained-metal valuation.
Reading the figures
- FY2024 loss differs by A$1,000 in the subsequent comparative; original report retained and issue logged.
- FY2025 total assets explicitly calculated; no fresh source retrieval used.
- Loan limits, undrawn availability, carrying balances and cash proceeds remain separate.
- 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
- Golden Cross Resources - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Golden Cross Resources - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Golden Cross Resources - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Golden Cross Resources - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Golden Cross 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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