FY2022
Gascoyne exploration expanded
The company expanded Gascoyne tenure around the Mick Well rare-earth discovery while incurring A$1.299m of exploration-asset cash payments.
ASX: KFM · Five-year financial review
(ASX: KFM) Kingfisher Mining Ltd Financial Review - FY2022~26
Kingfisher Mining’s FY2022–FY2026 financial record is that of a cash-funded Australian explorer. There is no operating revenue series in the stored annual extractions; funding, exploration cash use, impairment and portfolio changes are the material financial story.
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$1.207m
Company cash at 30 June 2026.
FY2026 exploration assets
A$1.402m
Accounting carrying value, not a mineral valuation.
FY2026 operating cash flow
(A$0.645m)
Reported company cash outflow.
FY2026 financing cash flow
A$1.671m
Net financing inflow after issue costs and lease repayment.
Five years in context
Kingfisher reported one Australian mineral-exploration segment throughout the period. FY2022–FY2024 activity focused on the Gascoyne/Mick Well rare-earth portfolio, including target definition and drilling; the saved annual records do not report operating revenue.
FY2025 brought a material exploration impairment amid rare-earth-market uncertainty. In FY2026, the company completed the NSW portfolio acquisition and divested Gascoyne licences. These are portfolio and accounting events, not evidence of mining production.
Events behind the numbers
FY2023
Equity replenished the cash base
Year-end cash was A$3.379m after A$4.352m of net financing cash inflow; the exploration carrying value was A$4.119m.
FY2024
Mick Well target definition advanced
The annual extraction describes high-grade REE lodes and more than 20km of delineated high-grade mineralisation. It does not present these results as a resource or reserve.
FY2025
Impairment and planned NSW pivot
A$2.072m of exploration impairment was recorded. After year-end the company signed the Austin Metals NSW portfolio agreement and announced an approximately A$1.854m capital raising.
FY2026
NSW acquisition and Gascoyne divestment
The NSW acquisition completed and Gascoyne was divested. Consideration included A$2.0m of Dreadnought shares, rather than cash; potential future milestone payments of up to A$1.5m remained contingent.
FINANCIAL REVIEW / 01
Liquidity remains equity-funded and cash-flow sensitive
Cash fell from A$3.379m at FY2023 to A$1.345m at FY2024 and finished FY2026 at A$1.207m. In FY2026, A$1.854m of equity proceeds generated A$1.671m of net financing cash flow, partly offsetting operating and investing outflows.
The issuer identifies equity raisings as its primary funding source because exploration does not provide ready access to credit facilities. Its FY2026 going-concern assessment refers to cash forecasts, minimum expenditure commitments and alternatives including equity, reduced discretionary expenditure or sales of financial assets.
Closing cash across the five balance dates
A$ million
Cash and cash equivalents
AI-generated presentation · values from Financial position: cash, assets, liabilities and equity; no missing values plotted as zero.
Annual cash-flow categories
A$ million
Net cash from operating activitiesNet cash from investing activitiesNet cash from financing activities
AI-generated presentation · values from Cash movements: operating, investing and financing; no missing values plotted as zero.
Financial position: cash, assets, liabilities and equity
A$ million
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 2.184 | 3.379 | 1.345 | 1.472 | 1.207 |
| Total assets | 4.665 | 7.862 | 5.866 | 4.037 | 4.085 |
| Total liabilities | 0.264 | 0.283 | 0.115 | 0.088 | 0.245 |
| Total equity | 4.400 | 7.580 | 5.751 | 3.950 | 3.840 |
Company-level balances at 30 June. FY2025 values use the FY2026 report’s comparative column, which presents the restated comparative balance sheet.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Cash movements: operating, investing and financing
A$ million
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Net cash from operating activities | (0.809) | (1.119) | (0.981) | (0.554) | (0.645) |
| Net cash from investing activities | (1.308) | (2.039) | (1.033) | 0.701 | (1.291) |
| Net cash from financing activities | (0.024) | 4.352 | (0.020) | (0.020) | 1.671 |
Cash-flow statement signs are retained. FY2025 investing cash flow was positive because it included sale of financial assets and a co-funded-drilling incentive; it is not operating revenue.
FY2026 financing cash flow is the reported net amount, comprising A$1.854m equity proceeds less A$0.161m issue costs and A$0.022m lease repayment.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 02
Cash exploration, carrying value, impairment and divestment are distinct
The table distinguishes annual exploration cash payments from the closing accounting carrying value. Carrying value peaked in FY2023 and then declined through impairment and portfolio movements; neither series is a resource, reserve, production or project-valuation measure.
The FY2026 Note 12 bridge records expenditure incurred, smaller expensed/refunded movements and a material exploration-asset sale before the closing balance. Separately, the Gascoyne transaction involved Dreadnought shares and contingent milestones, so the saved records do not support a simple cash bridge to the accounting disposal.
Exploration cash payments versus closing carrying value
A$ million
Payments for exploration and evaluation assetsClosing exploration and evaluation assets
AI-generated presentation · values from Exploration cash payments and accounting carrying value; no missing values plotted as zero.
Exploration cash payments and accounting carrying value
A$ million
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Payments for exploration and evaluation assets | (1.299) | (1.928) | (1.034) | (0.809) | (1.231) |
| Closing exploration and evaluation assets | 2.180 | 4.119 | 3.696 | 2.260 | 1.402 |
Cash payments and closing carrying value are different measures. FY2026’s asset roll-forward includes additions, expenditure expensed/refunded and exploration assets sold; the closing balance is therefore not inferred from annual cash payments.
FY2025 includes a A$2.072m impairment. It is an accounting charge, not an additional cash-payment series.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FY2026 exploration and evaluation asset roll-forward
A$ million
| Metric | FY2026 |
|---|---|
| Opening carrying value | 2.260 |
| Exploration expenditure incurred | 1.654 |
| Expenditure expensed / refunded | (0.024) |
| Exploration expenditure sold | (2.488) |
| Closing carrying value | 1.402 |
Amounts are the FY2026 Note 12 movement schedule. The A$ unit and scale are established by the linked FY2026 Note 12 closing balance in the company statement; this compact bridge is not cash flow.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 03
The statutory loss trend includes a disclosed FY2025 restatement
All five years are loss-making. The FY2025 comparative loss is A$1.836m after a FY2026-disclosed retrospective correction for a revaluation-reserve error on shares sold in FY2025. This is a correction of presentation between profit or loss and OCI, not a newly inferred reconciliation.
FY2023’s A$0.820m share-based-payment expense was a material driver relative to FY2022’s A$0.005m; it is a P&L charge, not the later closing reserve. Directors’ remuneration and consultancy fees also rose in FY2023. FY2024–FY2026 personnel rows have a broader directors-and-employees label and are therefore presented separately.
FY2024’s signed other-income line was a A$0.716m loss, led by a A$0.808m loss on tenement sales, partly offset by A$0.093m interest income. It is an other-income/asset-sale result, not operating revenue; the FY2024 detailed P&L line differs by A$0.003m from the saved summary line, so this report retains the detailed P&L value.
The FY2025 result includes a A$2.072m exploration impairment. That charge did not recur in FY2026, when the statement instead records a A$0.435m loss on sale of exploration and evaluation assets. FY2026 also recorded a A$0.883m FVOCI revaluation loss in OCI, taking total comprehensive loss to A$2.039m.
Statutory loss for FY2022–FY2026
A$ million
Loss for the year
AI-generated presentation · values from Statutory result and other comprehensive income; no missing values plotted as zero.
Loss and total comprehensive loss
A$ million
Loss for the yearTotal comprehensive loss for the year
AI-generated presentation · values from Statutory result and other comprehensive income; no missing values plotted as zero.
Exploration impairment and disposal charge
A$ million
Exploration and evaluation impairmentLoss on sale of exploration and evaluation assets
AI-generated presentation · values from Distinct exploration-related P&L charges: FY2025–FY2026; no missing values plotted as zero.
Statutory result and other comprehensive income
A$ million
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Loss for the year | (0.896) | (2.014) | (1.864) | (1.836) | (1.156) |
| Total comprehensive loss for the year | (0.896) | (2.014) | (1.829) | (1.802) | (2.039) |
FY2025 is the restated comparative in the FY2026 financial statements. The restatement moved A$0.177m from other comprehensive income to accumulated losses: previously reported FY2025 loss before tax of A$2.104m became A$1.926m, while OCI became A$0.034m from A$0.211m.
The FY2026 other-comprehensive-loss line relates to revaluation of equity instruments at FVOCI, net of tax. It is shown separately from the annual statutory loss.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Early loss drivers: FY2022–FY2023
A$ million
| Metric | FY2022 | FY2023 |
|---|---|---|
| Directors’ remuneration | (0.341) | (0.438) |
| Share-based payments expense | (0.005) | (0.820) |
| Consultancy fees | (0.080) | (0.115) |
These are reported P&L expenses. Share-based payments expense is distinct from the closing share-based-payments reserve.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Selected recurring costs: FY2024–FY2026
A$ million
| Metric | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Directors’ and employees’ remuneration | (0.587) | (0.185) | (0.198) |
| Consultancy fees | (0.126) | (0.105) | (0.203) |
| Other income | (0.716) | 0.621 | 0.113 |
Personnel labels in FY2024–FY2026 include directors and employees and are not combined with the earlier directors-only row. Other income retains the signed P&L line and is not revenue.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Distinct exploration-related P&L charges: FY2025–FY2026
A$ million
| Metric | FY2025 | FY2026 |
|---|---|---|
| Exploration and evaluation impairment | (2.072) | 0.000 |
| Loss on sale of exploration and evaluation assets | 0.000 | (0.435) |
Negative values are reported charges. The two rows are separate accounting events and are not an operating-cash-flow series.
Source: Annual-report extractions; explicit source-reported nils are labelled rather than inferred.
Reading the figures
- All amounts are A$ million unless stated; balance dates are 30 June and accounts are company-level.
- The report is limited to existing annual-extraction records. It is not an original-document audit, resource/reserve assessment, production forecast, valuation or investment recommendation.
- FY2025 comparatives use the FY2026 accounts’ restated presentation. The stored restatement table does not identify a separate currency header, but the linked FY2026 company statement presents the affected comparative in dollars.
- The Gascoyne divestment comprises non-cash listed shares and contingent amounts alongside an accounting asset-disposal movement; available saved records do not establish a single cash bridge between those measures.
- 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
- Kingfisher Mining Ltd - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Kingfisher Mining Ltd - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Kingfisher Mining Ltd - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Kingfisher Mining Ltd - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Kingfisher Mining Ltd - 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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