FY2021
COVID disruption and support
Restrictions delayed parts of the exploration programme. The group ended with A$1.502m net liabilities and Yitai HK support arrangements.
ASX: KLR · Five-year financial review
(ASX: KLR) Kaili Resources Limited Financial Review - FY2021~25
Kaili Resources remained an exploration-stage consolidated group through FY2021–FY2025. Its financial story is recurring operating cash use, related-party funding and a major FY2024 exploration-portfolio reset—not a product-sales trend.
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$0.016m
Consolidated cash and cash equivalents.
FY2025 net liabilities
A$4.924m
Reported consolidated net-liability position.
FY2024 E&E impairment
A$1.623m
Statutory exploration impairment charge.
FY2025 exploration payments
A$0.200m
Gross cash-flow payment, not an asset balance.
Five years in context
The loss narrowed from A$2.652m in FY2024 to A$0.424m in FY2025, but this is not a straightforward operating improvement. FY2024 included A$1.623m exploration impairment and a A$0.580m loss on borrowings at amortised cost; FY2022–FY2023 had borrowing-accounting gains. The loss chart is therefore not a cash-burn proxy.
The consolidated group was in net liabilities throughout. FY2025 closed with A$0.016m cash, A$5.386m total liabilities, A$4.924m net liabilities and A$0.462m total assets. The principal issue for a reader is the relationship between these balances and the disclosed support arrangements, rather than an inference that the company has reported revenue.
FY2024 is the clear portfolio and accounting break. Management redirected focus to South Australian REEs, surrendered Western Australian and Halls Creek ground, and recognised the impairment. This explains the collapse in E&E carrying value more directly than cash exploration payments alone.
Events behind the numbers
FY2022
Cash rebuilt with funding
Cash reached A$0.853m after A$1.300m financing inflow. The A$0.035m loss included a A$0.425m borrowing-amortisation gain.
FY2023
Higher operating and exploration cash use
Operating cash use was A$0.498m and exploration payments A$0.520m; a A$0.154m borrowing-accounting gain also affected the result.
FY2024
Tenement portfolio reset
The company shifted toward REEs, surrendered several tenements and booked A$1.623m E&E impairment.
FY2025
Facilities remain the liquidity context
Cash fell to A$0.016m. Yitai HK debt was assigned to the Chairman; the accounts retained a material-uncertainty going-concern disclosure.
FINANCIAL REVIEW / 01
Reported loss: impairments and borrowing accounting shape the trend
The small FY2022 loss reflected a disclosed A$0.425m gain on borrowings at amortised cost. In FY2024, the direction reversed: the statutory loss included a A$0.580m loss on borrowings at amortised cost as well as the A$1.623m E&E impairment. FY2025’s P&L has neither a borrowing loss nor a comparably large impairment.
Employee-benefit expense was broadly stable through FY2024 before increasing in FY2025, while other expenses declined in FY2025. The magnitude rows make recurring cost scale readable alongside the statutory loss without creating an adjusted-profit measure.
Reported loss after income tax
A$ million
Loss after income tax
AI-generated presentation · values from Reported loss and selected expense magnitudes; no missing values plotted as zero.
Reported loss and selected expense magnitudes
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Loss after income tax | (1.326) | (0.035) | (0.311) | (2.652) | (0.424) |
| Other income (reported) | 0.070 | 0.425 | 0.154 | 0.005 | 0.000 |
| Employee benefits expense — magnitude | 0.097 | 0.082 | 0.082 | 0.080 | 0.123 |
| Other expenses — magnitude | 0.372 | 0.354 | 0.324 | 0.355 | 0.275 |
A$ million. Losses retain the signed statutory presentation. Each expense-magnitude row is an explicit absolute-value calculation from its signed P&L operand; it is not an adjusted-earnings measure.
FY2022 and FY2023 include disclosed gains on borrowings at amortised cost; FY2024 includes a A$0.580m loss on borrowings at amortised cost.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 02
Financial position: little cash against growing liabilities
Cash peaked at A$0.853m in FY2022 before falling in each subsequent year. Liabilities increased to A$5.386m by FY2025 and net liabilities widened accordingly. These are consolidated Group observations, not parent-only balances.
E&E carrying value fell from A$1.584m in FY2023 to A$0.189m in FY2024 after the portfolio review and impairment, then closed FY2025 at A$0.313m. The short bridge identifies A$0.134m additions and A$0.011m FY2025 impairment; it should not be confused with cash exploration spend.
Closing cash and total liabilities
A$ million
Cash and cash equivalentsTotal liabilities
AI-generated presentation · values from Consolidated financial position; no missing values plotted as zero.
Exploration and evaluation carrying value
A$ million
Exploration and evaluation carrying value
AI-generated presentation · values from Consolidated financial position; no missing values plotted as zero.
Consolidated financial position
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 0.100 | 0.853 | 0.425 | 0.211 | 0.016 |
| Total assets | 1.042 | 2.118 | 2.127 | 0.534 | 0.462 |
| Total liabilities | 2.543 | 3.655 | 3.974 | 5.033 | 5.386 |
| Net (liabilities) / assets | (1.502) | (1.537) | (1.848) | (4.500) | (4.924) |
| Exploration and evaluation carrying value | 0.826 | 1.158 | 1.584 | 0.189 | 0.313 |
A$ million; balance dates are 31 December. Consolidated statutory position throughout. FY2025 total assets is the exact A$0.462m amount in the preserved consolidated claim; it is not inferred from tax components.
Borrowings are face/current classification as reported. The FY2025 current A$4.810m balance is not reclassified because later facility extensions were disclosed after the balance date.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Exploration and evaluation bridge
A$ million
| Metric | FY2024 | FY2025 |
|---|---|---|
| Opening carrying value | 1.584 | 0.189 |
| Additions | 0.229 | 0.134 |
| Impairment | (1.623) | (0.011) |
| Closing carrying value | 0.189 | 0.313 |
A$ million. This bridge uses the preserved E&E note; impairment is shown with its reported negative sign. It explains why annual cash exploration payments and closing E&E assets differ.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 03
Cash use and exploration spend are distinct measures
Operating cash flow was negative in all five years. Net investing cash flow is not interchangeable with exploration payments: FY2021 included a security-deposit inflow, while later net investing flows were negative. Financing inflows were positive in every year, including A$0.197m in FY2025.
The dedicated exploration-payment chart is deliberately separate from the E&E asset chart. Capitalisation, additions and impairment can make annual cash deployment and the closing asset move in different directions.
Operating, investing and financing cash flows
A$ million
Net cash used in operating activitiesNet cash from / (used in) investing activitiesNet cash from financing activities
AI-generated presentation · values from Consolidated cash flows and exploration payments; no missing values plotted as zero.
Cash payments for exploration
A$ million
Payments for exploration and evaluation expenditure
AI-generated presentation · values from Consolidated cash flows and exploration payments; no missing values plotted as zero.
Consolidated cash flows and exploration payments
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Net cash used in operating activities | (0.511) | (0.280) | (0.498) | (0.265) | (0.192) |
| Net cash from / (used in) investing activities | 0.013 | (0.267) | (0.530) | (0.160) | (0.200) |
| Net cash from financing activities | 0.566 | 1.300 | 0.600 | 0.211 | 0.197 |
| Payments for exploration and evaluation expenditure | (0.230) | (0.267) | (0.520) | (0.160) | (0.200) |
A$ million; negatives are reported outflows. Exploration payments are a gross investing-flow line, not net investing cash flow and not the E&E carrying value.
FY2021 net investing cash flow includes a security-deposit inflow; the four later years are net investing outflows.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 04
Related-party funding chronology and current classification
The group’s funding dependence pre-dates FY2025: the saved annual claims describe a fully drawn A$2.4m Yitai HK loan plus support arrangements in FY2021, increased support in FY2022, and further facility extensions in FY2023. The table separates gross annual loan proceeds from year-end borrowings so that neither is presented as the other.
At FY2025, A$4.600m of the Yitai HK amounts had been assigned to Chairman Jianzhong Yang and A$0.210m was drawn under the Kaili Holdings support facility, producing A$4.810m total borrowings. That amount remains current and non-interest bearing in the balance sheet. The later facility increase to A$1.750m and the 1 October 2027 maturity were disclosed after year-end; they are context, not a FY2025 non-current reclassification or new FY2025 cash.
The financial statements were prepared on a going-concern basis with material uncertainty if assumptions do not occur as anticipated; the auditor drew attention to this without modifying its opinion. This is a disclosed preparation and funding-risk boundary, not a forecast of insolvency.
Closing borrowings and gross loan proceeds
A$ million
Closing borrowingsGross proceeds from borrowings
AI-generated presentation · values from Borrowings and financing cash inflows; no missing values plotted as zero.
Borrowings and financing cash inflows
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Closing borrowings | 2.488 | 3.363 | 3.809 | 4.600 | 4.810 |
| Gross proceeds from borrowings | 0.800 | 1.300 | 0.600 | 0.211 | 0.210 |
A$ million. Borrowings are closing balance-sheet amounts; gross loan proceeds are annual cash receipts, so neither is a substitute for the other.
The FY2025 A$4.810m borrowing balance is current and non-interest bearing as reported.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Reading the figures
- The frozen packet describes an exploration-stage group and does not support a product-sales revenue trend; none is inferred.
- FY2025 total assets are supported by an exact preserved Group claim rather than a standalone table cell.
- Facility expansion, maturity extensions and additional drawdown disclosed after 31 December 2025 are marked as post-balance-date context.
- No dividend recommendation is recorded in the annual claims inspected; no capital-return trend is manufactured.
- 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
- Kaili Resources Limited - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Kaili Resources Limited - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Kaili Resources Limited - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Kaili Resources Limited - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Kaili 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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