FY2021
Equity funding underpinned exploration
Capital raisings funded the exploration programme; financing inflow reflected share issues after issue costs and borrowing repayments.
ASX: HAV · Five-year financial review
(ASX: HAV) Havilah Resources Limited Financial Review - FY2021~25
Havilah Resources’ FY2021–FY2025 accounts portray a South Australian mineral exploration and evaluation group. This review separates statutory results, funding-led cash movements and the accounting carrying values of its project portfolio.
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$0.541m
Consolidated cash and cash equivalents at 31 July 2025.
FY2025 assets
A$55.324m
Consolidated total assets at 31 July 2025.
FY2025 equity
A$53.550m
Consolidated total equity at 31 July 2025.
FY2025 result
(A$3.283m)
Statutory loss attributable to equity holders.
Five years in context
The selected figures are consolidated Group statutory observations for years ended 31 July. The accounts are project-led: results and cash movements were materially affected by funding, recoveries, asset transactions and capitalised exploration, so they are not treated as a recurring production trend.
FY2025 ended with lower cash while total equity remained above the start of the review. The annual report also identifies a material uncertainty related to going concern; it is retained as a disclosure boundary rather than converted into a funding forecast.
Events behind the numbers
FY2022
Cash reduced during continued exploration
The statutory loss and operating cash outflow occurred while the closing non-current exploration carrying value rose.
FY2023
Alliance funding and held-for-sale classification
BHP Strategic Alliance funding featured in other income and Kalkaroo E&E was classified as held for sale.
FY2024
Kalkaroo option ended; Koba consideration recognised
BHP did not exercise the Kalkaroo option, while consideration associated with uranium earn-in rights granted to Koba was recognised.
FY2025
Mutooroo funding and equity raise
Mutooroo study-program funding and an entitlement offer supported the year alongside investing outflow and the going-concern disclosure.
FINANCIAL REVIEW / 01
Reported results: funding and transaction effects matter
FY2023 and FY2024 statutory profits should be read alongside funding and transaction disclosures. In FY2024, the annual report identifies A$2.000m of BHP Strategic Alliance contributions and a A$3.610m gain on disposal of earn-in rights; the latter relates to Koba consideration. These are not presented as operating revenue.
The FY2025 statutory loss included a net fair-value loss on financial assets, higher employee benefits expense, expensed exploration, legal costs and the Group share of an associate loss. Mutooroo study-program funding was included in other income while BHP Strategic Alliance contributions were nil.
Reported statutory profit/(loss)
A$ million
Profit/(loss) attributable to equity holders
AI-generated presentation · values from Consolidated statutory result; no missing values plotted as zero.
Consolidated statutory result
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Profit/(loss) attributable to equity holders | (2.362) | (2.928) | 2.932 | 5.574 | (3.283) |
A$ million. Reported statutory result, not adjusted or recurring earnings.
The FY2023–FY2024 profits include funding, recoveries and/or transaction effects discussed below.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Selected statutory profit/(loss) drivers
A$ million
| Metric | FY2024 | FY2025 |
|---|---|---|
| Total other income | 6.405 | 3.527 |
| Gain on disposal of earn-in rights | 3.610 | 1.385 |
| Employee benefits expense (net) | (1.390) | (1.608) |
A$ million. This compact comparison does not combine disposal gains with other financial-asset fair-value movements.
Parentheses denote expenses or losses. FY2024 employee expense is claim-supported comparative context.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 02
Cash, financing and the investment burden
The cash-flow table separates operating, investing and financing streams. FY2021 financing inflow reflected share issue proceeds net of issue costs and borrowing repayments. In FY2025, financing inflow did not offset investing outflows primarily associated with exploration payments, contributing to lower closing cash.
The FY2025 auditor disclosure cites combined operating and investing cash outflow of A$4.593m and a material uncertainty related to going concern. Management’s identified funding options are not treated here as assured cash inflows or transaction outcomes.
Closing cash and total equity
A$ million
Cash and cash equivalentsTotal equity
AI-generated presentation · values from Consolidated financial position at 31 July; no missing values plotted as zero.
Operating, investing and financing cash flows
A$ million
Net operating cash flowNet investing cash flowNet financing cash flow
AI-generated presentation · values from Consolidated cash-flow profile; no missing values plotted as zero.
Consolidated financial position at 31 July
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 4.007 | 1.610 | 3.651 | 1.162 | 0.541 |
| Total assets | 44.685 | 44.202 | 47.949 | 53.616 | 55.324 |
| Total liabilities | 1.581 | 1.194 | 1.712 | 1.698 | 1.774 |
| Total equity | 43.104 | 43.008 | 46.238 | 51.917 | 53.550 |
Consolidated statutory closing balances, A$ million. These are balance-date measures, not annual cash flows or project valuations.
Cash and total-assets use their own consolidated statement observations; parent-company-only statement rows were not selected.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Consolidated cash-flow profile
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Net operating cash flow | (1.531) | (2.804) | 3.888 | 1.049 | 0.671 |
| Net investing cash flow | (1.793) | (2.015) | (1.799) | (3.507) | (5.264) |
| Net financing cash flow | 5.848 | 2.422 | (0.049) | (0.031) | 3.973 |
A$ million. Positive values are cash inflows; parentheses are cash outflows.
Cash-flow subtotals are distinct from E&E carrying values, other-income items and statutory profit/(loss).
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 03
Exploration portfolio: carrying values and classification matter
Non-current E&E is an accounting carrying value. Its FY2023 fall accompanies the separate held-for-sale classification for Kalkaroo, so it is not comparable with a simple annual exploration-spend line. The FY2025 non-current balance increased with expenditure on Mutooroo and Curnamona tenements.
Kalkaroo’s held-for-sale balance is separately reported. FY2025 records no impairment charges for exploration and evaluation tenements; that accounting treatment is not a project valuation or a statement on transaction completion.
Non-current exploration and evaluation expenditure
A$ million
Non-current exploration and evaluation expenditure
AI-generated presentation · values from Capitalised exploration and evaluation expenditure; no missing values plotted as zero.
Capitalised exploration and evaluation expenditure
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Non-current exploration and evaluation expenditure | 37.347 | 39.048 | 18.566 | 21.608 | 26.712 |
A$ million at 31 July. This is a non-current accounting carrying value, not annual exploration cash expenditure, a resource estimate or a project valuation.
Kalkaroo E&E classified separately as held for sale is excluded from this row.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Kalkaroo E&E classified as held for sale
A$ million
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| E&E expenditure classified as held for sale | 21.790 | 22.079 | 22.422 |
A$ million at 31 July. This separate current classification must not be added to the non-current E&E row as annual expenditure.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Reading the figures
- Existing annual-extraction records only; this is not an independent original-document audit or a review of project feasibility, resources, valuations or future funding.
- Kalkaroo held-for-sale E&E and non-current E&E are deliberately separate. Neither is interpreted as annual spend, sale proceeds or project value.
- The FY2025 going-concern material-uncertainty disclosure is not a prediction of funding availability, divestment or transaction completion.
- 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
- Havilah Resources Limited - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Havilah Resources Limited - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Havilah Resources Limited - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Havilah Resources Limited - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Havilah Resources Limited - 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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AI-led method
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