FY2021
Ellendale option receipts
Burgundy paid cash and issued shares when entering an option agreement; future exercise payments were conditional.
ASX: GIB · Five-year financial review
(ASX: GIB) Gibb River Diamonds Financial Review - FY2021~25
Gibb River Diamonds’ FY2021-FY2025 review separates cash movements from a major accounting-policy change. The final year brought a contractor-funded gold-mining arrangement at Edjudina, while diamond redevelopment and uranium permits remained prospective.
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$0.720m
Consolidated year-end balance.
Group loss
A$1.128m
Not parent-only A$1.139m.
Exploration expense
A$0.633m
FY2025 P&L cost.
Neta cash split
50 / 50
Net surplus after recovery of costs.
Five years in context
Expensing all exploration from FY2023 retrospectively changed FY2022 assets, equity and loss. The report therefore shows the original FY2021 accounting snapshot separately rather than charting a misleading five-year earnings trend.
The Neta agreement offers a share of surplus cash after project costs are reimbursed. It is not a 50% share of gross gold revenue, nor a completed FY2025 production result.
Events behind the numbers
FY2022
Restated comparison year
The later policy reduced the apparent near-break-even result to a A$0.989m loss.
FY2023
Exploration policy changes
All exploration is expensed as incurred; prior affected balances were restated.
FY2024
Investing inflow supports liquidity
Net investing cash inflow lifted cash despite operating outflows.
FY2025
Neta contractor agreement
BML funds mining-related capital and working capital. Mining started on 3 September 2025, after this financial year.
FINANCIAL REVIEW / 01
Cash declines after the FY2024 replenishment
With no net investing inflow in FY2025, operating spending and financing outflows reduced cash. The new contractor agreement does not remove corporate funding needs.
Cash at year-end
A$ million
Cash and equivalents
AI-generated presentation · values from Five years of closing cash; 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 flow by activity; no missing values plotted as zero.
Five years of closing cash
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and equivalents | 2.317 | 2.109 | 0.759 | 1.737 | 0.720 |
Cash balances are unaffected by the exploration accounting-policy change.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Cash flow by activity
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Net operating cash flow | (0.343) | (0.401) | (1.268) | (1.158) | (0.982) |
| Net investing cash flow | 0.478 | 0.216 | (0.053) | 2.171 | 0.000 |
| Net financing cash flow | 1.500 | (0.024) | (0.030) | (0.035) | (0.035) |
FY2021 original classification; FY2022 restated. The policy change also moved exploration spending and option-fee receipts between operating and investing categories.
FY2021 original operating cash outflow A$343,266 is retained; a FY2022 comparative extraction instead repeats A$193,045, which belongs to FY2020 in the original extract.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 02
Read the policy change before comparing losses
The restated FY2022 exploration expense is A$1.113m, versus A$0.143m originally. Lower assets and equity after the reset do not by themselves measure exploration failure or cash lost in that year.
Loss and exploration expense on the new basis
A$ million
Profit / (loss) after taxExploration expenditure expensed
AI-generated presentation · values from Post-reset earnings and exploration expenses; no missing values plotted as zero.
Assets and equity after restatement
A$ million
Total assetsTotal equity
AI-generated presentation · values from Assets and equity after the accounting-policy reset; no missing values plotted as zero.
Assets and equity after the accounting-policy reset
A$ million
| Metric | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Total assets | 3.791 | 3.411 | 2.047 | 0.998 |
| Total equity | 3.401 | 3.114 | 1.683 | 0.722 |
FY2022 is restated under the FY2023 policy of expensing exploration as incurred. FY2024-FY2025 are consolidated figures, not parent-only figures.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Post-reset earnings and exploration expenses
A$ million
| Metric | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Profit / (loss) after tax | (0.989) | (0.684) | (1.586) | (1.128) |
| Exploration expenditure expensed | (1.113) | (0.765) | (0.892) | (0.633) |
FY2022 restated. Expense signs are negative.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FY2021 on its original accounting basis
A$ million
| Metric | FY2021 |
|---|---|
| Total assets | 8.779 |
| Total equity | 8.541 |
| Capitalised exploration | 4.633 |
| Profit after tax | 1.977 |
Historical original figures. Do not treat the change to the restated FY2022 balance as an operating collapse: the later policy expensed previously capitalised exploration.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 03
What the project agreements do—and do not—establish
BML covers mining capital and working capital, with net surplus split after project expenses and reimbursement. The extraction describes toll-processing arrangements as still to be finalised at the agreement stage.
Ellendale requires a strategic partner to re-establish production. Erongo comprises permit applications, not granted producing uranium assets.
The going-concern assessment identifies reliance on revenue or other funding, including equity. Subsequent mining commencement is disclosed separately and does not establish FY2025 sales.
Reading the figures
- FY2021 remains on the original exploration-capitalisation basis; its financial position and earnings are not mixed into the restated trend charts.
- FY2021 operating-cash comparative inconsistency is logged; original-year value retained.
- Project agreements, permits, conditional payments and subsequent commencement do not establish realised revenue.
- 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
- Gibb River Diamonds - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Gibb River Diamonds - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Gibb River Diamonds - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Gibb River Diamonds - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Gibb River Diamonds - 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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