FY2021
Large reported loss
The reported loss after income tax was A$4.565m, alongside A$1.383m closing cash and A$7.301m exploration and evaluation carrying value.
ASX: GSN · Five-year financial review
(ASX: GSN) Great Southern Mining Limited Financial Review - FY2021~25
Great Southern Mining’s FY2021-FY2025 record is that of an exploration and evaluation group: repeated equity funding supported operating and investing cash outflows, while the balance sheet remained centred on capitalised exploration and evaluation assets. The FY2025 extraction also records a subsequent licence sale, clearly separated here from the 30 June balance-date figures.
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 closing cash
A$1.13m
Rounded figure stated in the FY2025 saved narrative.
FY2025 loss after tax
A$(1.705)m
Reported statutory loss.
FY2025 capitalised exploration
A$12.100m
Carrying value, not annual expenditure or resource value.
Mon Ami resource
55,500 oz Au
FY2025 total resource snapshot; not a reserve or production.
Five years in context
Across the period, equity financing repeatedly offset negative operating and investing cash flows, while closing cash remained a liquidity measure for an exploration-stage group rather than revenue or operating profitability. The table and charts retain the full annual sequence.
The exploration carrying balance rose from A$7.301m in FY2021 to A$12.258m in FY2024; the saved FY2025 audit record reports A$12.100m. The separate cash-flow table preserves the difference between capitalised balance and annual cash expenditure.
Reported losses remained material in each year. The FY2025 result was a A$1.705m loss after income tax; the saved narrative attributes it to corporate and compliance/legal costs and identifies non-cash share-based payments and an unrealised financial-asset loss as components, rather than describing the result as exploration cash burn.
Events behind the numbers
FY2022
Equity funding partly offset cash use
Financing cash inflow partly offset the year’s combined operating and investing outflows; closing cash was A$0.918m.
FY2023
Capital base expanded
Closing cash rose to A$1.583m after A$4.145m net financing cash inflow; total equity ended at A$12.714m.
FY2024
Exploration balance rose while cash declined
The exploration carrying value reached A$12.259m while cash closed at A$1.111m; the annual loss was A$1.992m.
FY2025
Balance-date position and later licence transaction
The saved narrative reports A$1.13m cash at 30 June and later describes a July agreement to sell M38/1299 for A$4m upfront cash plus contingent payments. That later agreement is not included in FY2025 closing cash.
FINANCIAL REVIEW / 01
Liquidity, capital base and asset composition
The period-end financial position is best read as exploration assets funded through equity rather than as a mature operating balance sheet. Total equity increased from A$7.388m in FY2021 to A$14.567m in FY2025. The FY2025 packet does not provide a directly comparable total-liabilities line, so the four-year liability trend is deliberately separated rather than extended mechanically.
FY2025 liquidity management is described in the saved annual narrative as maintaining adequate cash reserves from market funding while monitoring forecast and actual cash flows. This is management’s stated approach, not an assessment of future funding adequacy.
Closing cash and exploration carrying value
A$ million
Cash and cash equivalentsExploration and evaluation carrying value
AI-generated presentation · values from Capital base, cash and exploration carrying value; no missing values plotted as zero.
Capital base, cash and exploration carrying value
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 1.383 | 0.918 | 1.583 | 1.111 | 1.130 |
| Exploration and evaluation carrying value | 7.301 | 9.806 | 11.230 | 12.259 | 12.100 |
| Total equity | 7.388 | 9.526 | 12.714 | 13.251 | 14.567 |
All balance dates are 30 June. The FY2025 cash figure is rounded to two decimals because that is the precision in the saved narrative extraction.
Exploration and evaluation carrying value is an accounting balance. It is not a mineral-resource valuation, a reserve, or the year’s exploration cash payment.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Financial position: liabilities through FY2024
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 |
|---|---|---|---|---|
| Total liabilities | 1.701 | 1.480 | 0.543 | 0.469 |
| Total equity | 7.388 | 9.526 | 12.714 | 13.251 |
A directly comparable FY2025 total-liabilities line was not present in the permitted saved extraction. It is intentionally not inferred from other balances.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 02
Losses: accounting result distinct from cash use
Loss after income tax narrowed from A$1.992m in FY2024 to A$1.705m in FY2025. The saved FY2025 narrative names corporate, regulatory-compliance and legal costs, plus non-cash share-based payments and an unrealised loss on listed securities. It does not establish a production revenue stream, so none is implied.
Share-based expense fell from A$0.467m in FY2023 to A$0.257m in FY2024 and A$0.095m in FY2025. The displayed values are accounting expenses; the operating cash-flow reconciliation treats the FY2025 amount as a non-cash add-back.
Reported loss after income tax
A$ million
Loss after income tax
AI-generated presentation · values from Reported losses and non-cash share-based expense; no missing values plotted as zero.
Share-based payment expense where consistently extracted
A$ million
Share-based payment expense
AI-generated presentation · values from Non-cash share-based expense where consistently extracted; no missing values plotted as zero.
Reported losses and non-cash share-based expense
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Loss after income tax | (4.565) | (1.826) | (1.944) | (1.992) | (1.705) |
The loss row is sourced from each year’s reported income-statement/cash-flow reconciliation record.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 03
Cash use and equity financing
Operating cash flow was negative in every displayed year. Investing cash flow was also negative in FY2021-FY2024, while equity-related financing inflows offset part of those outflows. These classifications follow the issuer’s statement of cash flows; they do not imply that financing proceeds are operating income.
The FY2025 packet supports an operating cash outflow of A$1.126m and a rounded A$1.67m investing outflow narrative. No comparable FY2025 financing subtotal is selected, so the report retains the funding boundary rather than manufacturing a full cash-flow bridge.
Operating cash-flow subtotal
A$ million
Net cash from operating activities
AI-generated presentation · values from Cash flows: annual operating, investing and financing lanes; no missing values plotted as zero.
Investing and financing cash-flow subtotals
A$ million
Net cash from investing activitiesNet cash from financing activities
AI-generated presentation · values from Investing and financing cash-flow subtotals through FY2024; no missing values plotted as zero.
Investing cash-flow subtotal including FY2025 narrative snapshot
A$ million
Net cash from investing activities
AI-generated presentation · values from Investing cash-flow subtotal including FY2025 narrative snapshot; no missing values plotted as zero.
Cash flows: annual operating, investing and financing lanes
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Net cash from operating activities | (1.292) | (1.731) | (1.594) | (1.304) | (1.126) |
FY2025 operating cash flow is available in the saved reconciliation. Brackets indicate cash outflow.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Investing and financing cash-flow subtotals through FY2024
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 |
|---|---|---|---|---|
| Net cash from investing activities | (3.184) | (3.156) | (1.885) | (1.418) |
| Net cash from financing activities | 2.792 | 4.422 | 4.145 | 2.249 |
Comparable FY2025 investing and financing subtotal lines were not present in the permitted packet; they are not back-solved from the cash movement. Financing proceeds are not operating revenue.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Investing cash-flow subtotal including FY2025 narrative snapshot
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Net cash from investing activities | (3.184) | (3.156) | (1.885) | (1.418) | (1.670) |
FY2025 is a rounded narrative claim cell; FY2021-FY2024 are selected statement-of-cash-flow subtotals. Brackets denote outflows.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 04
Exploration expenditure, carrying values and resource context
The table sets annual exploration cash payments beside the period-end carrying-value series to make their different accounting roles visible. Cash payments are investing outflows; the carrying balance reflects recognition at the reporting date and must not be read as a spending or valuation series.
The FY2025 annual extraction includes a Mon Ami JORC resource snapshot: 1.56Mt at 1.11g/t Au for 55,500oz Au, at a 0.5g/t Au cut-off. It is presented as a reported Mineral Resource, including both Indicated and Inferred components, not as an Ore Reserve, forecast output or financial value.
Exploration cash payment and carrying value
A$ million
Payments for exploration and evaluation expenditureExploration and evaluation carrying value
AI-generated presentation · values from Exploration cash payment and carrying-value lens; no missing values plotted as zero.
Exploration cash payment and carrying-value lens
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 |
|---|---|---|---|---|
| Payments for exploration and evaluation expenditure | (3.084) | (3.108) | (2.097) | (1.464) |
| Exploration and evaluation carrying value | 7.301 | 9.806 | 11.230 | 12.259 |
Cash payments are investing cash outflows, while carrying value is a period-end accounting balance. They should not be netted or treated as the same measure.
FY2025 gross exploration cash payments were not selected because the permitted extraction contains no directly comparable line.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FY2025 Mon Ami Mineral Resource — reported snapshot
Mixed reported units: Mt, g/t Au and oz Au
| Metric | FY2025 |
|---|---|
| Total tonnageMt | 1.560 |
| Total gradeg/t Au | 1.110 |
| Contained goldoz Au | 55,500 |
Units differ by row: Mt, g/t Au and oz Au respectively. This is a JORC-reported resource snapshot, not production, revenue, a reserve or a valuation.
The five-year packet did not provide a like-for-like historical resource reconciliation for this table.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Reading the figures
- All amounts are Australian dollars where the saved extraction identifies AUD/A$; some historical cells retain a source row whose currency is not stated, although the report uses the issuer’s displayed $ convention.
- The FY2025 packet contains selected statutory rows and narrative, not a complete comparable FY2025 statement-of-financial-position and cash-flow set. Total liabilities and financing subtotal are not shown for FY2025; investing outflow is shown as a separately labelled rounded narrative snapshot.
- The July 2025 M38/1299 transaction is a subsequent event in the FY2025 extraction and is kept outside the 30 June 2025 balance-date series.
- The resource snapshot is supplied only for FY2025 in a directly usable form; no five-year like-for-like resource reconciliation is asserted.
- Prepared from existing year-by-year extraction records only. No raw-source retrieval, database query, financial web research or MiniMax call. GPT review against saved extractions; not an independent original-document audit.
Annual-report source registry
- Great Southern Mining Limited - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Great Southern Mining Limited - Annual ReportExisting annual extraction, including separately identified historical comparatives.
- Great Southern Mining Limited - 2023 Annual ReportExisting annual extraction, including separately identified historical comparatives.
- Great Southern Mining Limited - 2024 Annual ReportExisting annual extraction, including separately identified historical comparatives.
- Great Southern Mining Limited - 2025 Annual ReportExisting 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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AI-led method
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