FY2021
Listing-era funding base
The company was incorporated in July 2020 and listed in April 2021. Year-end cash was A$17.368m and net financing cash inflow was A$21.466m.
ASX: ICL · Five-year financial review
(ASX: ICL) Iceni Gold Limited Financial Review - FY2021~25
Iceni Gold Limited’s FY2021–FY2025 accounts portray an Australian gold exploration group funded principally through equity and with no production or revenue series selected. The report separates statutory results, Group financial position, the three cash-flow lanes and exploration carrying values so that each retains its actual accounting meaning.
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 Group net assets
A$29.564m
Statutory Group net assets at 30 June 2025.
FY2025 cash
A$4.199m
Cash and cash equivalents at 30 June 2025.
FY2025 exploration asset
A$25.657m
Capitalised carrying amount, not a resource valuation.
FY2025 statutory loss
A$(3.494)m
Reported net loss, distinct from cash flow.
Five years in context
Iceni was incorporated in July 2020 and listed on the ASX in April 2021. The company describes a single gold-exploration and evaluation operation rather than segmented operating businesses, so this review does not infer sales, production, reserves or a resource valuation.
The Group’s cash fell from A$17.368m at FY2021 to A$1.011m at FY2023, before ending FY2025 at A$4.199m. Over the same endpoints, capitalised exploration and evaluation increased from A$6.765m to A$25.657m; that is a carrying-value series, not cash spend.
At 30 June 2025, the Group reported A$30.853m of assets, A$1.289m of liabilities and A$29.564m of net assets. The annual report also states A$3.601m working capital and no debt; these are reported year-end observations, not a funding forecast.
Events behind the numbers
FY2022
Exploration deployment
Exploration and evaluation payments were A$9.078m and net investing cash outflow was A$11.379m; the closing exploration carrying amount was A$16.559m.
FY2023
Reduced cash and funding outflow
Closing cash was A$1.011m and financing cash flow was a A$0.685m outflow. The report also records a September 2023 capital raising after the 30 June balance date.
FY2024
Income and equity funding
FY2024 statutory loss was A$0.230m. Reported other income was A$0.951m, including A$0.795m profit on disposal of fixed assets; share-issue proceeds were A$4.208m.
FY2025
Farm-in, funding and write-off
Gold Road could earn up to 75% of a defined tenement portion through up to A$35m of sole-funded exploration and subscribed A$3.05m for shares. FY2025 cash flows separately report A$3.324m farm-in contribution funds received and A$5.503m share-issue proceeds.
FINANCIAL REVIEW / 01
Group financial position, liquidity and exploration carrying value
The Group financial-position table supplies the consolidated balance-sheet context missing from cash alone. Total assets rose to A$30.853m by FY2025 while liabilities were A$1.289m; much of the asset base was the A$25.657m capitalised exploration carrying amount.
Capitalised exploration increased across the selected period. The accounting policy says costs are carried forward only where recoupment is expected or assessment is incomplete, while costs for an abandoned area are written off in full. It therefore cannot be read as a resource valuation or a direct measure of annual spending.
Group total assets, liabilities and net assets
A$ million
Total assetsTotal liabilitiesNet assets
AI-generated presentation · values from Group financial position at each 30 June; no missing values plotted as zero.
Closing cash and capitalised exploration
A$ million
Cash and cash equivalentsCapitalised exploration and evaluation — closing balance
AI-generated presentation · values from Cash and capitalised exploration at each balance date; no missing values plotted as zero.
Group financial position at each 30 June
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Total assets | 25.245 | 27.326 | 24.957 | 28.315 | 30.853 |
| Total liabilities | 1.035 | 2.409 | 1.336 | 0.858 | 1.289 |
| Net assets | 24.210 | 24.917 | 23.621 | 27.457 | 29.564 |
Group/statutory statement-of-financial-position totals. Net assets are the reported assets less liabilities total; they are not a liquidity measure.
The FY2023 source statement reports net assets of A$23.621m (rounded); later reports use their own comparative presentations.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Cash and capitalised exploration at each balance date
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 17.368 | 7.798 | 1.011 | 3.296 | 4.199 |
| Capitalised exploration and evaluation — closing balance | 6.765 | 16.559 | 21.443 | 24.341 | 25.657 |
Capitalised exploration is a carrying amount, not a mineral-resource valuation or a measure of cash remaining.
Figures are presented in Australian dollars from the annual-report records; no foreign-currency translation is made.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 02
Statutory results and disclosed drivers
The FY2024 statutory loss of A$0.230m was materially lower than the surrounding years, but this is not presented as an operating turnaround. The report’s A$0.951m other-income subtotal included A$0.795m profit on disposal of fixed assets, A$0.142m hire of plant and equipment and A$0.014m interest income.
FY2025 statutory loss was A$3.494m. The statement includes a A$2.406m capitalised-exploration write-off, and the issuer says voluntary whole and partial tenement surrenders at 14 Mile Well caused the associated carrying-value write-off. Share-based payments were A$0.295m. These stated items help explain the year’s result but are not converted into a forecast.
Statutory net loss by financial year
A$ million
Net loss
AI-generated presentation · values from Statutory net loss; no missing values plotted as zero.
Statutory net loss
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Net loss | (2.385) | (1.317) | (1.298) | (0.230) | (3.494) |
Years ended 30 June. This is the statutory result, not an exploration-cash measure.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Other-income components in FY2024 and FY2025
A$ million
| Metric | FY2024 | FY2025 |
|---|---|---|
| Total other income | 0.951 | 0.494 |
| Profit on disposal of fixed assets | 0.795 | 0.126 |
This is the issuer’s reported other-income subtotal and one component, not revenue. The FY2024 disposal profit was a major contributor to that year’s subtotal.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FY2025 selected statutory loss drivers
A$ million
| Metric | FY2025 |
|---|---|
| Capitalised exploration expenditure written off | (2.406) |
| Share-based payments | (0.295) |
| Total other income | 0.494 |
Expense rows are negative as reported; other income is positive. The two expense rows are P&L items, not the positive non-cash add-backs in the operating-cash reconciliation.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 03
Three cash-flow lanes and funding context
Operating cash was an outflow in every selected year. Net investing cash outflow was particularly high in FY2022, then FY2025 investing included both A$6.353m exploration payments and A$3.324m farm-in contribution funds received; its A$2.824m net outflow should not be substituted for either component.
Financing cash was a A$0.685m outflow in FY2023, then a A$3.246m inflow in FY2024 and A$5.103m in FY2025. FY2025 share-issue proceeds were A$5.503m and proceeds from borrowings A$0.070m; the Group’s separate year-end statement says it had no debt.
Net cash flow by activity
A$ million
Net cash used in operating activitiesNet cash used in investing activitiesNet cash provided from / (used in) financing activities
AI-generated presentation · values from Group cash flow by activity; no missing values plotted as zero.
FY2025 selected funding flows
A$ million
Proceeds from issue of sharesFarm-in contribution funds receivedNet cash provided from financing activities
AI-generated presentation · values from FY2025 selected funding and investing flows; no missing values plotted as zero.
Group cash flow by activity
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Net cash used in operating activities | (1.240) | (1.304) | (1.136) | (0.502) | (1.376) |
| Net cash used in investing activities | (2.858) | (11.379) | (4.967) | (0.459) | (2.824) |
| Net cash provided from / (used in) financing activities | 21.466 | 3.113 | (0.685) | 3.246 | 5.103 |
Negative values are reported net outflows. Investing is a net subtotal and is not interchangeable with exploration payments or the closing exploration asset.
Financing changed from a small outflow in FY2023 to inflows in FY2024 and FY2025; this table preserves the reported net activity totals.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FY2025 selected funding and investing flows
A$ million
| Metric | FY2025 |
|---|---|
| Proceeds from issue of shares | 5.503 |
| Farm-in contribution funds received | 3.324 |
| Net cash provided from financing activities | 5.103 |
FY2025 farm-in contribution funds are an investing-cash inflow, distinct from the separate Gold Road share subscription and from contractual potential future exploration spend.
The table is intentionally FY2025-only because the selected annual record provides the farm-in cash line in that period.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Reading the figures
- Iceni is presented as an exploration and evaluation entity with one operating segment; no production, revenue, reserve or valuation series is inferred.
- The FY2023 statement-of-financial-position rows and later comparative presentations contain small rounding/presentation differences in net-assets values. The report retains the source-year statutory rows and does not manufacture a reconciled restatement.
- The FY2025 farm-in agreement describes potential future exploration funding. The report distinguishes those contractual terms from the A$3.324m cash-flow contribution actually recorded in FY2025.
- The FY2025 auditor identified a material uncertainty related to going concern. This report retains it as a reported audit matter and makes no forecast or trading conclusion.
- The FY2023 capital raise referred to in the event card occurred after 30 June 2023 and is not folded into FY2023 closing cash.
- 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
- Iceni Gold Limited - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Iceni Gold Limited - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Iceni Gold Limited - Annual ReportExisting annual extraction, including separately identified historical comparatives.
- Iceni Gold Limited - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Iceni Gold 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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