ASX: GPR · Five-year financial review

Geopacific Resources Ltd (ASX: GPR) - Five-Year Financial Review FY2021-FY2025

A five-year account of Geopacific's Woodlark Gold Project, reported losses, cash use and funding. All financial statement amounts are in reported dollars (A$); resource data are separate physical measures. Each column is the selected annual report's current year.

Financial years ended 31 December 2021–2025 · Editorial review: 2026-09-24 · MII Research

Reading the tables: 0 (nil) is a supported zero. Other text distinguishes an amount included in another line, a non-applicable item, a separately unavailable component and an unresolved value. These are not interchangeable. Period-specific detail is labelled; complete year-by-year detail remains available.

FY2025 statutory loss

A$4.84m

Continuing operations; consolidated.

FY2025 cash + term deposits

A$20.95m

A$9.631m cash plus A$11.315m term deposits; no other current financial assets included.

FY2025 net assets

A$92.90m

At 31 December 2025, after the entitlement issue.

Woodlark resource

1.663Moz Au

FY2025 disclosure carries the August 2024 estimate; it is not output.

Five years in context

Geopacific remained a Woodlark gold explorer and developer, with major development works suspended in February 2022. Consolidated losses in FY2021 and FY2022 included large non-cash project impairments; later reported losses were smaller, but the company continued to use cash in operations and to fund exploration, community and project work.

Equity funding changed the balance sheet. The FY2021 placement included a tranche issued in December 2020; subsequent funding included a 2023 entitlement offer, 2024 strategic-investor and bond conversions, and an entitlement offer announced in December 2024 and completed in January 2025. The 2025 year-end cash balance excludes term deposits, while the investing cash outflow includes the placement of those deposits.

Events behind the numbers

FY2021

Woodlark cost escalation

Project delays and a capital-cost review led to a December trading suspension. The post-year-end works halt followed; the year's result included Woodlark impairments and onerous-contract costs.

FY2022

Major works suspended

Major development works were suspended in February. The Sprott facilities were terminated in April, and a large non-cash Woodlark impairment was recorded.

FY2023

Work program funded

An A$6m entitlement offer funded the work program and community relocation. The annual report flagged funding uncertainty for continued operations.

FY2024

Investor and bond transactions

Lingbao subscribed for shares, bond amounts were converted to equity, and an A$40m entitlement offer was announced in December. The Woodlark Mineral Resource was updated in August.

FY2025

Entitlement issue completed

The entitlement offer closed in January, bearer bonds were repaid, and the mining-lease construction deadline was extended to October 2027. The annual report again identified a funding-related going-concern uncertainty.

FINANCIAL REVIEW / 01

Losses and reported expense lines

The FY2022 loss was dominated by a Woodlark impairment. Subsequent statements show lower write-downs and losses, but changes in the presentation of other income, exploration and site costs limit simple component trends. The FY2025 result also includes a gain on disposal of a foreign operation and a foreign-exchange loss.

Statutory net result, continuing operations

Net loss for the year (continuing operations)

A$ losses are plotted directly from the statutory net-loss row; bars remain below zero.

AI-generated presentation · values from Consolidated statutory profit or loss; no missing values plotted as zero.

Consolidated statutory profit or loss

Metric	FY2021	FY2022	FY2023	FY2024	FY2025
Interest income	147,753	10,109	15,107	10,865	1,127,223
Other income (FY2021 presentation)	518,373	Not separately presented	Not separately presented	Not separately presented	Not separately presented
Other expense (FY2021 presentation)	-1,071,906	Not separately presented	Not separately presented	Not separately presented	Not separately presented
Net other income / (expense)	-553,533	1,386,591	618,006	72,646	-5,440
Administration expense	-791,756	-912,030	-586,712	-459,709	-815,348
Consultancy expense	-2,211,484	-2,664,686	-888,244	-1,053,392	-756,726
Employee benefits expense	-2,264,770	-2,251,197	-1,456,228	-1,453,101	-1,813,485
Site related expense	—	—	-6,193,708	-4,187,781	-1,706,192
Finance costs	-16,816,122	-856,715	-356,933	-817,996	-66,258
Impairment / write down of assets	-27,275,446	-66,012,928	-1,034,326	-25,135	-3,440
Depreciation expense	-260,607	-288,468	-562,045	-440,830	-210,385
Share-based payments expense	-731,128	-199,304	-108,742	-657,886	-1,198,219
Net onerous contract provision recognised / (written back)	-6,703,000	703,740	-322,242	0 (nil)	—
Fair value loss on financial liabilities	-4,320,633	0 (nil)	—	—	—
Exploration expense	0 (nil)	-645,482	—	—	—
Net foreign currency gain / (loss)	609,792	-224,555	22,772	5,942	-959,146
Gain on disposal of foreign operation	—	—	—	0 (nil)	1,571,731
Loss before income tax	-61,318,687	-71,954,925	-10,853,295	-9,006,377	-4,835,685
Income tax benefit	0 (nil)	0 (nil)	0 (nil)	0 (nil)	0 (nil)
Net loss for the year (continuing operations)	-61,318,687	-71,954,925	-10,853,295	-9,006,377	-4,835,685

Annual years ended 31 December; A$ as reported. Parentheses denote expense/loss. Earlier schedules show '$'; the FY2025 extraction explicitly identifies AUD. No currency translation was applied.

FY2021 presents other income of A$518,373 and other expense of A$-1,071,906 separately; their A$-553,533 sum is displayed as a calculated bridge to the FY2022–FY2025 reported net other-income line. The gross FY2021 components remain visible; the FY2022–FY2025 net lines do not establish whether either FY2021-style gross component occurred or its separate amount, so those component cells are not separately presented. FY2021 interest income of A$147,753 is disclosed in a note within other income and is not added again. Exploration expense is separately shown in FY2021–FY2022; a site-related line appears from FY2023.

The loss is from continuing operations. Numeric 0 (nil) appears only where a matching-period source record or issuer explanation establishes nil; an absent line remains a distinct presentation state.

Later comparatives reclassify some expense lines. The FY2025 report shows FY2024 administration/site-related expense of A$974,232/A$3,673,258 versus FY2024's own A$459,709/A$4,187,781; the FY2024 report shows FY2023 site-related expense of A$5,999,459 versus FY2023's own A$6,193,708. This table deliberately uses each year's current-year presentation.

Basis and presentation notes (29)

Other income (FY2021 presentation) / FY2022 — Not separately presented: FY2022 statement reports only the net other-income/(expense) line (R001913); the separate other-income component's occurrence and amount are not established.
Other income (FY2021 presentation) / FY2023 — Not separately presented: FY2023 statement reports only the net other-income/(expense) line (R002979); the separate other-income component's occurrence and amount are not established.
Other income (FY2021 presentation) / FY2024 — Not separately presented: FY2024 statement reports only the net other-income/(expense) line (R004166); the separate other-income component's occurrence and amount are not established.
Other income (FY2021 presentation) / FY2025 — Not separately presented: FY2025 statement reports only the net other-income/(expense) line (R004748); the separate other-income component's occurrence and amount are not established.
Other expense (FY2021 presentation) / FY2022 — Not separately presented: FY2022 statement reports only the net other-income/(expense) line (R001913); the separate other-expense component's occurrence and amount are not established.
Other expense (FY2021 presentation) / FY2023 — Not separately presented: FY2023 statement reports only the net other-income/(expense) line (R002979); the separate other-expense component's occurrence and amount are not established.
Other expense (FY2021 presentation) / FY2024 — Not separately presented: FY2024 statement reports only the net other-income/(expense) line (R004166); the separate other-expense component's occurrence and amount are not established.
Other expense (FY2021 presentation) / FY2025 — Not separately presented: FY2025 statement reports only the net other-income/(expense) line (R004748); the separate other-expense component's occurrence and amount are not established.
Site related expense / FY2021 — —: FY2021–22 present exploration expense; the issuer changes to a site-related line in FY2023. No direct equivalence assumed.
Site related expense / FY2022 — —: FY2021–22 present exploration expense; the issuer changes to a site-related line in FY2023. No direct equivalence assumed.
Net onerous contract provision recognised / (written back) / FY2024 — 0 (nil): Net onerous contract provision recognised: -; see unchanged source record.
Net onerous contract provision recognised / (written back) / FY2025 — —: The selected FY2025 profit-or-loss statement does not separately present an onerous-contract line.
Fair value loss on financial liabilities / FY2022 — 0 (nil): Fair value loss on financial liabilities: -; see unchanged source record.
Fair value loss on financial liabilities / FY2023 — —: The selected statement does not separately present this line for this year; no zero inferred.
Fair value loss on financial liabilities / FY2024 — —: The selected statement does not separately present this line for this year; no zero inferred.
Fair value loss on financial liabilities / FY2025 — —: The selected statement does not separately present this line for this year; no zero inferred.
Exploration expense / FY2021 — 0 (nil): Exploration expense: -; see unchanged source record.
Exploration expense / FY2023 — —: From FY2023 this separate line is not presented; the later site-related line is shown above.
Exploration expense / FY2024 — —: From FY2023 this separate line is not presented; the later site-related line is shown above.
Exploration expense / FY2025 — —: From FY2023 this separate line is not presented; the later site-related line is shown above.
Gain on disposal of foreign operation / FY2021 — —: The FY2021 statement has a distinct Kou Sa Project derecognition line; it does not separately present the later foreign-operation disposal-gain line.
Gain on disposal of foreign operation / FY2022 — —: The selected statement does not separately present this line for this year; no zero inferred.
Gain on disposal of foreign operation / FY2023 — —: The selected statement does not separately present this line for this year; no zero inferred.
Gain on disposal of foreign operation / FY2024 — 0 (nil): Gain on disposal of foreign operation (Continuing Operations) - comparative: -; see unchanged source record.
Income tax benefit / FY2021 — 0 (nil): Income tax benefit: -; see unchanged source record.
Income tax benefit / FY2022 — 0 (nil): Income tax benefit: -; see unchanged source record.
Income tax benefit / FY2023 — 0 (nil): Income tax benefit: -; see unchanged source record.
Income tax benefit / FY2024 — 0 (nil): Income tax benefit: -; see unchanged source record.
Income tax benefit / FY2025 — 0 (nil): Income tax benefit (Continuing Operations): -; see unchanged source record.

Source: Selected Geopacific annual reports, consolidated statements and notes; exact row evidence retained in the author bundle.

Comprehensive result and per-share loss

Metric	FY2021	FY2022	FY2023	FY2024	FY2025
Other comprehensive income / (loss)	4,107,798	8,748,853	-4,336,685	1,846,132	-11,931,360
Total comprehensive loss	-57,210,889	-63,206,072	-15,189,980	-7,160,245	-16,767,045
Basic loss per sharecents/share	-12.67	-13.85	-1.49	-0.94	-0.16

Basic loss per share is in cents. Other comprehensive income is driven principally by foreign-currency translation and is outside statutory net loss; FY2025 includes a disposal-related reclassification in translation reserves.

Source: Selected Geopacific annual reports, consolidated statements and notes; exact row evidence retained in the author bundle.

FINANCIAL REVIEW / 02

Assets, liabilities and liquidity

The 2022 project impairment reduced Woodlark asset carrying values, while the 2025 entitlement issue lifted year-end equity. At 31 December 2025, cash and term deposits were separate asset lines; the remaining bearer bonds had been repaid in January.

Consolidated net assets at year end

NET ASSETS (Total Equity)

Year-end consolidated equity; financing and translation reserve movements affect this series.

AI-generated presentation · values from Consolidated financial position at 31 December; no missing values plotted as zero.

Consolidated financial position at 31 December

Metric	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and cash equivalents	67,470,477	5,738,772	2,145,015	1,790,179	9,630,616
Trade and other receivables (current)	267,436	914,034	1,460,683	1,864,110	205,070
Other financial assets (current)	—	—	—	—	11,439,930
Prepayments	1,292,363	454,259	250,036	138,379	217,738
Inventories	781,125	617,095	555,948	379,380	1,046,924
Total Current Assets	69,811,401	7,724,160	4,411,682	4,172,048	22,540,278
Trade and other receivables (non-current)	3,829,642	6,417,501	4,320,843	1,206,704	1,133,125
Exploration and evaluation assets	2,005,023	5,926,632	5,843,059	6,616,650	15,776,090
Mine properties under development	50,895,186	37,190,454	37,194,192	39,300,437	37,803,444
Property, plant and equipment	49,104,814	27,850,262	24,751,629	24,860,259	21,604,277
Right-of-use asset	619,619	53,407	191,860	153,025	69,895
Total Non-Current Assets	106,454,284	77,438,256	72,301,583	72,137,075	76,386,831
TOTAL ASSETS	176,265,685	85,162,416	76,713,265	76,309,123	98,927,109
Trade and other payables	18,480,389	4,722,123	2,213,546	2,156,130	4,733,994
Interest-bearing liabilities (current)	—	—	3,500,000	2,711,756	0 (nil)
Lease liability (current)	193,662	53,946	69,997	96,902	77,890
Provisions (current)	15,285,048	812,837	669,816	811,670	886,511
Total Current Liabilities	33,959,099	5,588,906	6,453,359	5,776,458	5,698,395
Other financial liabilities / Lease liability (non-current)	420,326	0 (nil)	121,011	77,565	0 (nil)
Provisions (non-current)	519,010	1,068,028	1,037,098	945,183	327,373
Total Non-Current Liabilities	939,336	1,068,028	1,158,109	1,022,748	327,373
TOTAL LIABILITIES	34,898,435	6,656,934	7,611,468	6,799,206	6,025,768
NET ASSETS (Total Equity)	141,367,250	78,505,482	69,101,797	69,509,917	92,901,341
Issued capital	284,846,318	284,991,318	290,668,871	297,579,350	336,539,600
Reserves	5,744,838	14,692,995	10,465,052	12,969,070	2,235,929
Accumulated losses	-149,223,906	-221,178,831	-232,032,126	-241,038,503	-245,874,188

A$ as reported. Assets and liabilities are year-end stocks, while profit-or-loss and cash flow rows cover the preceding year.

FY2025 other financial assets include term deposits but do not equal term deposits alone; the cash-plus-term-deposits figure is stated separately from cash and cash equivalents.

FY2021–FY2024 selected balance-sheet rows use each annual report's current-year column. FY2025 omitted rows are recovered from the selected 2025 current-year balance-sheet table. The non-current other-financial-liabilities/lease row changes label and basis across years; FY2022 nil applies to other financial liabilities, while FY2025 nil applies to non-current lease liability, so the row is not a uniform liability trend.

Basis and presentation notes (9)

Other financial assets (current) / FY2021 — —: Not a separate current-asset line in the selected earlier balance sheet.
Other financial assets (current) / FY2022 — —: Not a separate current-asset line in the selected earlier balance sheet.
Other financial assets (current) / FY2023 — —: Not a separate current-asset line in the selected earlier balance sheet.
Other financial assets (current) / FY2024 — —: Not a separate current-asset line in the selected earlier balance sheet.
Interest-bearing liabilities (current) / FY2021 — —: The FY2021 current-liability section does not separately present interest-bearing liabilities; the available dash belongs to a non-current line.
Interest-bearing liabilities (current) / FY2022 — —: The FY2022 current-liability section does not separately present interest-bearing liabilities; the available dash belongs to a non-current line.
Interest-bearing liabilities (current) / FY2025 — 0 (nil): FY2025 balance sheet shows a dash after repayment of bearer bonds; reported nil.
Other financial liabilities / Lease liability (non-current) / FY2022 — 0 (nil): Reported nil
Other financial liabilities / Lease liability (non-current) / FY2025 — 0 (nil): The FY2025 balance sheet marks the non-current lease liability with a dash; interpreted as nil in that line.

Source: Selected Geopacific annual reports, consolidated statements and notes; exact row evidence retained in the author bundle.

FINANCIAL REVIEW / 03

Cash use, project spending and financing

Operating cash outflow moderated across the selected years. The investing subtotal is not a pure project-spend measure: its FY2025 amount includes A$11.315m moved into term deposits, alongside exploration and mine-development cash payments. Equity proceeds supplied the largest financing inflow in FY2025; cash borrowing repayment reflects the January bond settlement.

Operating cash flow

Net cash used in operating activities

All five reported annual operating cash-flow subtotals are negative.

AI-generated presentation · values from Consolidated cash flows and selected investing/financing components; no missing values plotted as zero.

Consolidated cash flows and selected investing/financing components

Metric	FY2021	FY2022	FY2023	FY2024	FY2025
Net cash used in operating activities	-14,191,101	-13,204,426	-8,687,503	-4,367,835	-3,261,705
Payments for plant and equipment	-56,538,984	-17,563,274	-393,041	-14,592	-415,132
Exploration expenditure (capitalised)	-36,097	-3,722,221	-283,436	-576,302	-8,409,195
Mine development expenditure (capitalised)	-4,733,857	-18,264,961	-3,360,974	-1,575,080	-4,096,343
Placement of term deposits	—	—	—	—	-11,315,000
Net cash used in investing activities	-61,308,938	-39,550,456	-3,711,377	-2,165,974	-24,235,670
Proceeds from shares/options issued (net of costs)	118,674,686	0 (nil)	5,677,553	4,471,897	38,582,359
Proceeds from borrowings (net of costs)	125,883,689	0 (nil)	3,237,500	1,728,000	0 (nil)
Repayment of borrowings	-140,596,551	0 (nil)	—	—	-2,711,756
FY2022 loan-facility termination costs	Not applicable	-8,605,219	0 (nil)	Not applicable	Not applicable
Payment of principal portion of lease liability	-242,319	-214,651	-70,211	-62,379	-89,627
Net cash from/(used in) financing activities	103,719,505	-8,819,870	8,844,842	6,137,518	35,780,976
Net increase/(decrease) in cash and cash equivalents	28,219,466	-61,574,752	-3,554,038	-396,291	8,283,601
Effect of exchange rates on cash held in foreign currencies	4,611,156	-156,953	-39,719	41,455	-443,164
Cash and cash equivalents at end of year	67,470,477	5,738,772	2,145,015	1,790,179	9,630,616

A$ cash movements, with outflows in parentheses. The FY2025 investing outflow includes A$11.315m placed in term deposits; this placement is a financial-asset transfer, not mine development expenditure.

FY2021 gross borrowing proceeds and repayments reflect financing movements and should not be read as year-end debt. The share/option proceeds row follows FY2021–22 issuer wording, which includes options; FY2023–25 statements call this shares issued. Lease payments are shown using the issuer's period-specific statement wording; no principal-plus-interest composite is inferred.

The displayed components are selected material lines and need not sum to each investing/financing subtotal in every year; other issuer lines, including equipment disposal proceeds, are omitted from this compact table. The FY2022 loan-facility termination cost is a specific one-off payment: FY2021 and FY2024–FY2025 are not applicable to that transaction, while FY2023 has a matching reported-nil line. Other absent financing lines remain not separately presented rather than zero.

Basis and presentation notes (14)

Placement of term deposits / FY2021 — —: The selected statement does not separately present this line for this year; no zero inferred.
Placement of term deposits / FY2022 — —: The selected statement does not separately present this line for this year; no zero inferred.
Placement of term deposits / FY2023 — —: The selected statement does not separately present this line for this year; no zero inferred.
Placement of term deposits / FY2024 — —: The selected statement does not separately present this line for this year; no zero inferred.
Proceeds from shares/options issued (net of costs) / FY2022 — 0 (nil): Reported nil
Proceeds from borrowings (net of costs) / FY2022 — 0 (nil): Reported nil
Proceeds from borrowings (net of costs) / FY2025 — 0 (nil): Reported nil
Repayment of borrowings / FY2022 — 0 (nil): Reported nil
Repayment of borrowings / FY2023 — —: The selected statement does not separately present this line for this year; no zero inferred.
Repayment of borrowings / FY2024 — —: The selected statement does not separately present this line for this year; no zero inferred.
FY2022 loan-facility termination costs / FY2021 — Not applicable: FY2021 is outside the specifically labelled FY2022 loan-facility termination transaction R001871; this does not rule out other capital or financing activity.
FY2022 loan-facility termination costs / FY2023 — 0 (nil): Reported nil
FY2022 loan-facility termination costs / FY2024 — Not applicable: FY2024 is outside the specifically labelled FY2022 loan-facility termination transaction R001871; this does not rule out other capital or financing activity.
FY2022 loan-facility termination costs / FY2025 — Not applicable: FY2025 is outside the specifically labelled FY2022 loan-facility termination transaction R001871; this does not rule out other capital or financing activity.

Source: Selected Geopacific annual reports, consolidated statements and notes; exact row evidence retained in the author bundle.

FINANCIAL REVIEW / 04

Capital structure and shareholder funding

The issued-share count rose with financing rounds and bond conversion. FY2025's entitlement shares were issued after the December 2024 announcement, so the increase belongs to FY2025. The annual reports report no dividends during this period; the report does not infer a shareholder cash return from equity issuance.

Issued equity and capital raising

Metric	FY2021	FY2022	FY2023	FY2024	FY2025
Closing balance – shares (31 December)ordinary shares	519,246,646	520,863,611	821,717,373	1,183,072,421	3,205,795,329
Closing balance – $ (31 December)	284,846,318	284,991,318	290,668,871	297,579,350	336,539,600
Share issue costs / adjustments – $	-6,239,882	145,000	-322,447	-677,977	-1,027,608
FY2025 Entitlement Offer – $	Not applicable	Not applicable	Not applicable	Not applicable	39,987,858
FY2024 shares issued to bond holders – $	Not applicable	Not applicable	Not applicable	2,819,577	Not applicable

Annual closing balances, not cumulative sums of the transaction rows. FY2025 A$39.988m entitlement issue is the issued-capital entry; financing cash proceeds are net of costs and timing, so the two figures differ.

The A$140m placement cited in the FY2021 report includes a December 2020 tranche and a February 2021 tranche; this table avoids assigning both tranches to FY2021. The FY2023 A$6m accelerated offer and FY2024 investor/bond transactions are described in the event cards and annual sources.

FY2022 shows a positive A$145,000 share-issue-cost adjustment that increases issued capital; FY2021 and FY2023–FY2025 entries are deductions. The FY2024 bond-holder conversion and FY2025 Entitlement Offer are specific transactions. Other years are not applicable to those named transactions; this does not imply all equity issuance was absent.

Basis and presentation notes (8)

FY2025 Entitlement Offer – $ / FY2021 — Not applicable: FY2021 is outside the specifically labelled FY2025 Entitlement Offer transaction R004793; this does not rule out other capital or financing activity.
FY2025 Entitlement Offer – $ / FY2022 — Not applicable: FY2022 is outside the specifically labelled FY2025 Entitlement Offer transaction R004793; this does not rule out other capital or financing activity.
FY2025 Entitlement Offer – $ / FY2023 — Not applicable: FY2023 is outside the specifically labelled FY2025 Entitlement Offer transaction R004793; this does not rule out other capital or financing activity.
FY2025 Entitlement Offer – $ / FY2024 — Not applicable: FY2024 is outside the specifically labelled FY2025 Entitlement Offer transaction R004793; this does not rule out other capital or financing activity.
FY2024 shares issued to bond holders – $ / FY2021 — Not applicable: FY2021 is outside the specifically labelled FY2024 bond-holder conversion transaction R004226; this does not rule out other capital or financing activity.
FY2024 shares issued to bond holders – $ / FY2022 — Not applicable: FY2022 is outside the specifically labelled FY2024 bond-holder conversion transaction R004226; this does not rule out other capital or financing activity.
FY2024 shares issued to bond holders – $ / FY2023 — Not applicable: FY2023 is outside the specifically labelled FY2024 bond-holder conversion transaction R004226; this does not rule out other capital or financing activity.
FY2024 shares issued to bond holders – $ / FY2025 — Not applicable: FY2025 is outside the specifically labelled FY2024 bond-holder conversion transaction R004226; this does not rule out other capital or financing activity.

Source: Selected Geopacific annual reports, consolidated statements and notes; exact row evidence retained in the author bundle.

FINANCIAL REVIEW / 05

Woodlark project asset and resource

Mine properties under development carry project construction costs after impairment, rehabilitation and currency movements. The FY2025 note shows additions offset by adverse translation and a reduced rehabilitation provision, leaving a lower carrying value. The global Mineral Resource is an estimate of mineralisation, not a measure of produced gold; the FY2025 disclosure carries forward the August 2024 update.

Woodlark mine properties under development: carrying-value movement

Metric	FY2021	FY2022	FY2023	FY2024	FY2025
Carrying value — beginning of year	37,975,609	50,895,186	37,190,454	37,194,192	39,300,437
Additions	23,230,220	17,586,089	2,350,742	1,279,945	4,677,791
Transfers from property, plant and equipment	194,464	554,284	0 (nil)	0 (nil)	0 (nil)
Change in rehabilitation provision	302,399	483,959	6,367	-158,869	-522,295
Impairment	-13,877,597	-35,429,173	0 (nil)	0 (nil)	0 (nil)
Foreign exchange fluctuation	3,070,091	3,100,109	-2,353,371	985,169	-5,652,489
Carrying value — end of year	50,895,186	37,190,454	37,194,192	39,300,437	37,803,444

A$ book values and annual movements. FY2021 and FY2022 project impairments here are allocations to mine properties, smaller than consolidated impairment/write-down expense in the income statement.

FY2025 opening, additions, rehabilitation movement, foreign exchange and closing values are recovered from the selected 2025 note. Issuer narrative supports nil transfers and nil impairments for FY2024–25.

Basis and presentation notes (6)

Transfers from property, plant and equipment / FY2023 — 0 (nil): Transfers from property, plant and equipment (Note 13): -; see unchanged source record.
Transfers from property, plant and equipment / FY2024 — 0 (nil): Issuer narrative states no mine-property transfers or impairments in FY2024.
Transfers from property, plant and equipment / FY2025 — 0 (nil): Issuer narrative states no mine-property transfers or impairments in FY2025.
Impairment / FY2023 — 0 (nil): Impairment (Note 14): -; see unchanged source record.
Impairment / FY2024 — 0 (nil): Issuer narrative states no mine-property transfers or impairments in FY2024.
Impairment / FY2025 — 0 (nil): Issuer narrative states no mine-property transfers or impairments in FY2025.

Source: Selected Geopacific annual reports, consolidated statements and notes; exact row evidence retained in the author bundle.

Woodlark global Mineral Resource snapshots disclosed in annual reports

mixed; see row units

Metric	FY2021	FY2022	FY2023	FY2024	FY2025
Total mineralised tonnesMt	47	47.88	45.56	48.28	48.28
Average gold gradeg/t Au	1.04	1	1.07	1.07	1.07
Contained goldkoz Au	1,573	1,541	1,560	1,663	1,663

Resource estimates are project snapshots disclosed in each annual report, not annual production or sales. FY2021 refers to an earlier estimate, FY2022 to the December 2022 update, FY2023 to the 2023 update, and FY2024–25 to the August 2024 update carried forward in 2025.

The report source uses a >0.4 g/t Au lower cut-off. Changes in classification, estimation and disclosure date can affect year-to-year comparability.

Source: Selected Geopacific annual reports, consolidated statements and notes; exact row evidence retained in the author bundle.

Reading the figures

Amounts are as reported in the selected annual-report current-year columns. The older extracted statements use '$' without an explicit currency code; the FY2025 extraction identifies AUD. No currency conversion is applied.
A matching-period nil interpretation or issuer explanation supports numeric 0 (nil); no dash or absent line is globally converted to zero. The FY2021 calculated net other-income bridge retains both reported operands, and the non-current liability line changes basis across years. Source limits and definition changes are documented in the author change log.
Woodlark Mineral Resource snapshots have different estimate dates and are not annual production, sales or reserves. Prospective scoping-study economics are excluded from historical results.
The reports contain going-concern funding uncertainty at some balance dates. This review makes no forecast, valuation or investment recommendation.

Annual-report source registry

Geopacific Resources Ltd — Annual Report - 2021Year ended 2021-12-31; annual-report document dated 2022-04-28.
Geopacific Resources Ltd — Updated Annual Report - 2022Year ended 2022-12-31; annual-report document dated 2023-05-09.
Geopacific Resources Ltd — Annual Report - 2023Year ended 2023-12-31; annual-report document dated 2024-04-29.
Geopacific Resources Ltd — Annual Report - 2024Year ended 2024-12-31; annual-report document dated 2025-04-29.
Geopacific Resources Ltd — Annual Report - 2025Year ended 2025-12-31; annual-report document dated 2026-04-24.

Prepared from the existing annual extraction datasets, supplemented only by selected same-company annual-report tables and saved row interpretations. No new raw-document extraction or web financial research was used for this test.

Sources, copyright and independence

The source references in this report identify the public disclosures used and should be read with the associated section, table and reporting-period qualifications. This report paraphrases, organises and compares those disclosures for descriptive and educational purposes rather than reproducing source text.

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AI-led method

This report uses AI actively and extensively for evidence extraction, comparison, organisation, calculation checks, drafting, translation planning and presentation. Material claims received reasonable editorial review against cited public sources; this was not an audit, assurance engagement or independent verification. Limitations in public sources, AI systems and review may leave errors, omissions, inconsistencies or translation, classification and interpretation errors.

Any AI-generated visual accompanying this report must carry an adjacent, visible AI-generated label or caption. Such visuals are illustrative rather than source evidence and do not replace the cited annual-report text, table or section source.

Information notice

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