FY2021
Exploration disposals and impairment
The A$11.993m closing exploration balance reflected A$4.975m incurred, Lachlan Fold Belt and Clermont sales, and A$3.713m impairment.
ASX: IPT · Five-year financial review
(ASX: IPT) Impact Minerals Limited Financial Review - FY2021~25
Impact Minerals remained an exploration-stage consolidated group over FY2021–FY2025. The saved annual-extraction record shows small operating-income lines, recurring cash deployment, equity funding and material project-accounting movements; it does not establish mine production or recurring mining revenue.
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 cash
A$2.451m
Cash and cash equivalents at 30 June 2025.
FY2025 Group net assets
A$11.412m
Reported Group net assets.
FY2025 statutory loss
(A$9.018m)
Loss before tax from continuing operations.
FY2025 rights issue
A$5.149m
Gross share proceeds before issue costs.
Five years in context
Impact reports mineral exploration as its principal activity. This review consequently centres on Group cash, funding, statutory loss and exploration accounting, rather than recasting interest, rebates or other income as mine revenue.
The consolidated position ends with reported Group net assets of A$11.412m and cash of A$2.451m at 30 June 2025. The A$12.189m FY2025 total-assets display is transparently calculated from these net assets and total liabilities rather than copied from parent-only records.
FY2025 includes distinct A$5.561m exploration impairment, A$0.157m expensed exploration and A$1.189m held-for-sale impairment lines; they are retained as different accounting measures.
Events behind the numbers
FY2022
Portfolio sales changed carrying values
Blackridge and 75% Commonwealth project sales sit beside A$3.939m expenditure incurred and A$1.122m impairment.
FY2023
Positive operating cash was not mine sales
Operating cash flow was A$0.141m positive, with saved detail showing other income and R&D rebate receipts offset by supplier-and-employee payments.
FY2024
Lake Hope costs and asset-held-for-sale charge
The bridge includes Lake Hope acquisition costs and project impairment; the profit-and-loss statement separately records A$1.091m held-for-sale impairment.
FY2025
Rights issue and portfolio remeasurement
A rights issue raised A$5.149m before costs. Project impairments and held-for-sale impairment are reported separately; later Commonwealth sale/JV developments are not backfilled into FY2025 statements.
FINANCIAL REVIEW / 01
Consolidated position: cash and exploration carrying values declined in FY2025
Consolidated cash rose through FY2023 then declined to A$3.422m in FY2024 and A$2.451m in FY2025. Financing inflows remained positive in both years but did not offset combined operating and investing outflows; this is a historical cash-flow observation, not a funding forecast.
Exploration and evaluation carrying value was A$7.360m at FY2025. It remains distinct from annual exploration cash payments and resource estimates because it is affected by expenditure, asset movements and impairment under the accounts.
Closing Group cash at each 30 June
A$ million
Cash and cash equivalents
AI-generated presentation · values from Consolidated financial position at each 30 June; no missing values plotted as zero.
Exploration carrying value and net assets
A$ million
Exploration and evaluation asset carrying valueNet assets / total equity
AI-generated presentation · values from Consolidated financial position at each 30 June; no missing values plotted as zero.
Consolidated financial position at each 30 June
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 3.416 | 3.816 | 4.689 | 3.422 | 2.451 |
| Exploration and evaluation asset carrying value | 11.993 | 11.195 | 9.568 | 9.814 | 7.360 |
| Assets held for sale | 0.115 | 3.483 | 3.278 | 1.782 | N/D |
| Total assets (FY2025 calculated: net assets + liabilities) | 16.023 | 19.201 | 18.471 | 15.886 | 12.189 |
| Total liabilities | 0.390 | 0.644 | 1.054 | 0.901 | 0.778 |
| Net assets / total equity | 15.633 | 18.557 | 17.417 | 14.985 | 11.412 |
A$ million. FY2021–FY2024 use consolidated Group statements, not the parent-entity summaries also preserved in the packet.
FY2025 total assets is calculated: reported Group net assets A$11.412m + reported Group liabilities A$0.778m = A$12.189m. It is not presented as a reported total-assets line.
No selected like-for-like FY2025 assets-held-for-sale balance is available; it is not treated as zero.
Basis and presentation notes (1)
- Assets held for sale / FY2025 — N/D: No selected like-for-like FY2025 Group balance.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 02
Reported losses: impairment was material, but not the whole result
The Group reported a continuing-operations loss before tax in every displayed year. Exploration impairment was material but the loss also reflects other income, corporate costs, employee costs and other expenses, so this review does not create an adjusted earnings series.
FY2025’s A$5.718m non-cash exploration write-off add-back belongs to the operating-cash reconciliation. It is A$0.157m expensed exploration plus A$5.561m exploration impairment, not an additional impairment; the A$1.189m held-for-sale charge remains separate.
Reported loss and exploration impairment
A$ million
Loss before tax from continuing operationsImpairment of exploration expenditure
AI-generated presentation · values from Reported income, costs and impairment charges; no missing values plotted as zero.
Reported income, costs and impairment charges
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue from operating activities | 0.016 | 0.004 | 0.076 | 0.116 | 0.079 |
| Other income | 0.140 | 0.444 | 1.477 | 0.445 | 0.547 |
| Corporate and administration expense | (0.718) | (0.751) | (1.006) | (1.517) | (1.509) |
| Employee benefits expense | (0.383) | (0.886) | (0.775) | (0.720) | (0.918) |
| Exploration expenditure expensed | N/D | N/D | N/D | 0.000 | (0.157) |
| Impairment of exploration expenditure | (3.713) | (1.122) | (5.473) | (3.803) | (5.561) |
| Impairment of assets held for sale | N/D | N/D | N/D | (1.091) | (1.189) |
| Loss before tax from continuing operations | (4.760) | (2.399) | (5.782) | (6.753) | (9.018) |
A$ million; negatives are reported expenses or losses. The small revenue/other-income lines are not mining sales or production revenue.
The FY2025 A$5.718m non-cash reconciliation add-back is not charted as an impairment: it comprises A$0.157m expensed exploration and A$5.561m exploration impairment.
Assets-held-for-sale impairment is separate from exploration impairment. FY2024 has a saved-source conflict: its direct P&L row reports A$1.091m, while FY2025 comparative disclosures state nil; the direct row is displayed and the conflict is retained as a limitation.
Basis and presentation notes (6)
- Exploration expenditure expensed / FY2021 — N/D: No separately selected comparable face-statement row.
- Exploration expenditure expensed / FY2022 — N/D: No separately selected comparable face-statement row.
- Exploration expenditure expensed / FY2023 — N/D: No separately selected comparable face-statement row.
- Impairment of assets held for sale / FY2021 — N/D: No separately selected comparable charge.
- Impairment of assets held for sale / FY2022 — N/D: No separately selected comparable charge.
- Impairment of assets held for sale / FY2023 — N/D: No separately selected comparable charge.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 03
Cash flow: financing funded a portfolio with continuing deployment
Net operating cash was negative in FY2021, FY2022, FY2024 and FY2025; FY2023 is the sole positive year. The saved detail makes clear that this is not evidence of recurring mining income: other-income and R&D-rebate receipts were central to the reported operating cash composition.
Net investing cash flow is retained beside exploration cash payments because acquisitions and disposals can change its direction and size. Gross share proceeds, issue costs and net financing are also separate reported cash-flow lines, rather than a synthetic funding calculation.
Operating, investing and financing cash flows
A$ million
Net cash from/(used in) operating activitiesNet cash used in investing activitiesNet cash from financing activities
AI-generated presentation · values from Statutory cash-flow lanes and funding; no missing values plotted as zero.
Share proceeds and issue costs
A$ million
Proceeds from issue of sharesShare issue costs
AI-generated presentation · values from Statutory cash-flow lanes and funding; no missing values plotted as zero.
Statutory cash-flow lanes and funding
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Net cash from/(used in) operating activities | (0.818) | (0.739) | 0.141 | (1.402) | (1.379) |
| Payments for exploration activities | (4.841) | (3.486) | (3.252) | (3.325) | (2.956) |
| Net cash used in investing activities | (4.971) | (3.550) | (3.224) | (3.336) | (4.161) |
| Proceeds from issue of shares | 7.245 | 5.200 | 4.000 | 3.000 | 5.149 |
| Share issue costs | (0.472) | (0.510) | (0.044) | (0.208) | (0.536) |
| Net cash from financing activities | 6.773 | 4.690 | 3.956 | 3.471 | 4.569 |
| Net increase/(decrease) in cash | 0.984 | 0.400 | 0.873 | (1.267) | (0.971) |
A$ million; consolidated statutory cash-flow lines. Exploration payments are a component of investing activities, not a substitute for the net investing subtotal.
FY2023 operating cash flow was positive A$0.141m because saved cash-flow inputs include other income and an R&D rebate alongside supplier-and-employee payments; it does not establish recurring mine sales.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 04
Exploration accounting: expenditure, project movements and carrying value
This bridge is an accounting carrying-value reconciliation. FY2022 includes Blackridge and Commonwealth sales; FY2023–FY2024 identify project-specific impairment and acquisition movements. These are not annual cash-spend measures.
FY2025 records A$2.833m expenditure incurred and a A$7.360m closing balance, with individual impairment lines for Arkun, Commonwealth, Broken Hill, Doonia and other projects. A separate A$0.205m Commonwealth fair-value reduction and post-balance-date sale/JV developments are not added to FY2025 statement rows.
Closing exploration and evaluation carrying value
A$ million
Closing carrying balance
AI-generated presentation · values from Exploration and evaluation asset bridge; no missing values plotted as zero.
Exploration and evaluation asset bridge
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Opening carrying balance | 10.946 | 11.993 | 11.195 | 9.568 | 9.814 |
| Exploration expenditure incurred during year | 4.975 | 3.939 | 3.641 | 3.383 | 2.833 |
| Closing carrying balance | 11.993 | 11.195 | 9.568 | 9.814 | 7.360 |
A$ million; accounting carrying-value bridge, not a cash-flow, Mineral Resource or valuation table.
Movements include project disposals, acquisitions and impairment, so incurred expenditure, carrying value, impairment and exploration cash payments remain separate measures.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Reading the figures
- FY2025 Group total assets is an explicitly labelled calculation from reported net assets and liabilities; it is not a reported standalone total-assets fact.
- No mine-production, mineral-sales, dividend, debt-maturity or valuation series is presented: the packet supports an explorer-focused financial review, not a like-for-like operating-production history.
- No selected like-for-like FY2025 assets-held-for-sale balance is available. The FY2025 held-for-sale impairment stays separate from exploration impairment.
- Going-concern language is reader context from the accounts, not a conclusion about solvency or future capital availability.
- 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
- Impact Minerals Limited - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Impact Minerals Limited - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Impact Minerals Limited - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Impact Minerals Limited - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Impact Minerals 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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