FY2022
Company established
The first accounts cover only 1 February to 30 June, while the company prepared for a listing.
ASX: GR8 · Five-year financial review
(ASX: GR8) Great Dirt Resources Financial Review - FY2022~26
Great Dirt Resources’ FY2022-FY2026 history spans incorporation, an ASX listing and manganese exploration. A short initial period and a later move to consolidated accounts require clear boundaries. Cash use is modest relative to the large FY2026 share-based accounting charge, so both are shown separately.
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$3.810m
Consolidated year-end cash.
Exploration assets
A$1.531m
Book value, not a mineral valuation.
Operating cash use
A$0.458m
FY2026 actual operating cash outflow.
Share-based charge
A$18.579m
FY2026 non-cash expense.
Five years in context
Great Dirt began on 1 February 2022 and was largely dormant ahead of its planned listing. It listed in November 2023 following a A$5m IPO. The financial step-change in FY2024 therefore reflects a different operating and funding stage.
The recent exploration focus is Doherty and Basin in NSW, with Nullagine and Pilbara interests in WA. Exploration targets, rock-chip results and historical mining are not presented as current group production or reserves.
Events behind the numbers
FY2023
Pre-listing preparation
The company remained largely dormant; exploration carrying value began to appear in the accounts.
FY2024
IPO and group reporting
The November 2023 listing followed a A$5m IPO, with manganese targets and an expanded exploration portfolio.
FY2025
Maiden drilling
Nineteen holes totalling 1,701 metres were completed at Doherty and Basin in December 2024.
FY2026
Targets and tenure
Further mapping and research ranked targets, and EL9527 was renewed to February 2028.
FINANCIAL REVIEW / 01
Funding and cash use across distinct business stages
The IPO substantially expanded the cash base in FY2024. Cash then declined in FY2025 before financing replenished it in FY2026. These movements should be read alongside the change from private-company to consolidated reporting.
A cash-flow heading is not a financing subtotal: the extracted FY2026 subtotal shows an inflow of A$1.706m, supported by share and option proceeds less issue costs and lease payments.
Closing cash at each June balance date
A$ million
Cash and equivalents
AI-generated presentation · values from From private-company balances to a listed group; no missing values plotted as zero.
Annual cash use and funding
A$ million
Net operating cash flowNet investing cash flowNet financing cash flow
AI-generated presentation · values from Annual cash flows after the incorporation period; no missing values plotted as zero.
From private-company balances to a listed group
A$ million
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Cash and equivalents | 0.055 | 0.102 | 3.443 | 2.670 | 3.810 |
| Total assets | 0.055 | 0.285 | 4.712 | 4.273 | 5.439 |
| Total equity | (0.006) | 0.264 | 4.564 | 4.163 | 5.319 |
| Exploration and evaluation assets | 0.000 | 0.149 | 1.022 | 1.489 | 1.531 |
All balance dates are 30 June. FY2022-FY2023 are company-only; FY2024-FY2026 are consolidated group statements.
The FY2022 exploration balance is reported nil; negative equity is retained. FY2025 assets are taken from the next annual extraction’s dated comparative.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Annual cash flows after the incorporation period
A$ million
| Metric | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|
| Net operating cash flow | (0.101) | (0.419) | (0.321) | (0.458) |
| Net investing cash flow | (0.161) | (0.985) | (0.444) | (0.107) |
| Net financing cash flow | 0.309 | 4.745 | (0.009) | 1.706 |
FY2023 company-only; FY2024 onward consolidated. The short initial period is shown separately, not annualised.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Initial period: 1 February to 30 June 2022
A$ million
| Metric | FY2022 |
|---|---|
| Net loss | (0.006190) |
| Net operating cash flow | (0.001190) |
| Net investing cash flow | 0.000000 |
| Net financing cash flow | 0.056010 |
Approximately five months from incorporation, not a full financial year. Amounts are not scaled up to twelve months.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 02
Non-cash remuneration drives the latest loss
The FY2026 loss is dominated by share-based payments relating to options and performance rights. The same charge is described in the saved narrative and cash reconciliation. It is therefore retained, not replaced by a smaller parent-only loss or described as cash burned.
The performance-rights component is part of the total charge, not an additional expense to add again. Cashless option exercise also does not create cash funding.
Reported annual losses
A$ million
Net loss after tax
AI-generated presentation · values from Reported losses and share-based payment expense; no missing values plotted as zero.
Reported losses and share-based payment expense
A$ million
| Metric | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|
| Net loss after tax | (0.095) | (1.203) | (0.428) | (19.136) |
| Share-based payment expense (signed) | 0.000 | (0.758) | 0.000 | (18.579) |
| Interest income | 0.000 | 0.095 | 0.123 | 0.152 |
FY2023 company-only; FY2024 onward consolidated. Share-based expense is not a same-period cash payment.
No adjusted profit measure is invented by removing share-based expense. Interest is not mineral sales revenue.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 03
Cash payments, carrying values and targets are different measures
R&D receipts offset part of investing cash use in FY2025 and FY2026. Capitalised exploration is a balance-sheet amount after the accounting treatment of expenditure; neither that balance nor net investing cash is a substitute for gross exploration payments.
Exploration remains subject to adequate funding. The FY2026 disclosure expressly distinguishes conceptual targets from Mineral Resources or Ore Reserves, so this review does not insert estimated production or sales into the financial tables.
Gross exploration cash payments and R&D receipts
A$ million
Exploration and evaluation cash paymentsR&D tax incentive receipts
AI-generated presentation · values from Gross exploration payments and R&D cash support; no missing values plotted as zero.
Gross exploration payments and R&D cash support
A$ million
| Metric | FY2025 | FY2026 |
|---|---|---|
| Exploration and evaluation cash payments | (0.832) | (0.454) |
| R&D tax incentive receipts | 0.335 | 0.315 |
| Net investing cash flow | (0.444) | (0.107) |
Net investing includes equipment and tenement transactions in addition to exploration and R&D receipts; it is not gross exploration expenditure.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Reading the figures
- FY2022 is a short incorporation period, not twelve months.
- FY2022-FY2023 company-only amounts and FY2024-FY2026 consolidated totals are explicitly identified; a constant group perimeter is not assumed.
- Share-based compensation is an accounting expense, not a cash payment or a project valuation.
- 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 Dirt Resources - Annual Report 30 June 2022Existing annual extraction, including separately identified historical comparatives.
- Great Dirt Resources - Annual Report 30 June 2023Existing annual extraction, including separately identified historical comparatives.
- Great Dirt Resources - Amended Annual report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Great Dirt Resources - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Great Dirt 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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