FY2022
HPA DFS work paused
Further HPA DFS work was put on hold; the group reported a statutory loss and a separate tenement write-off.
ASX: KRR · Five-year financial review
(ASX: KRR) King River Resources Limited Financial Review - FY2022~26
King River Resources remained an exploration and evaluation group through FY2026. Its five-year statutory result was shaped first by the Speewah sale and subsequently by impairment and Tivan security remeasurement. Cash, investment balances and capitalised exploration are kept separate so that neither sale proceeds nor unrealised gains are presented as 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.
FY2026 closing cash
A$3.678m
Consolidated cash at 30 June 2026.
FY2026 profit after tax
A$15.899m
Issuer attributes the outcome to Tivan valuation and sale gains.
FY2026 listed financial assets
A$26.550m
FVTPL; distinct from cash.
FY2026 exploration carrying value
A$10.233m
Capitalised exploration expenditure at cost.
Five years in context
The Group’s activities moved from ARC HPA and Speewah work in FY2022 to Tennant Creek exploration and disposal of Speewah in FY2023. By FY2026 its principal activities were exploration at Tennant Creek and Mindoolah; the issuer also stated that the Group had not commenced mining operations.
The reporting record therefore distinguishes the statutory result, which can include asset transactions and security remeasurement, from operating, investing and financing cash flows.
Events behind the numbers
FY2023
Speewah sale completed
Tivan acquired Speewah Mining on 11 April 2023. The issuer reported A$8.615m net profit on sale.
FY2024
Restructured Speewah consideration
The annual disclosure reported A$2.400m profit before tax on Speewah and identified sale/restructured terms as drivers of FY2023–FY2024 profit.
FY2025
Mt Remarkable impairment
Mt Remarkable exploration was impaired to nil. The issuer reported a A$4.400m impairment and a A$0.868m Tivan fair-value loss.
FY2026
Mindoolah acquisition and Tivan remeasurement
Mindoolah was acquired as an asset acquisition. FY2026 profit was driven by A$18.330m unrealised and A$2.429m realised Tivan gains.
FINANCIAL REVIEW / 01
Cash and statutory financial record
Operating cash was negative in every displayed year. Project-sale receipts and investment disposals supported cash while exploration continued; positive investing cash flow is not mine operating cash generation.
FY2026 investing flows included A$3.429m listed-security sale proceeds, A$1.714m exploration payments and a A$0.905m tenement acquisition payment. These are not the same as the reported fair-value gain.
Operating, investing and financing cash flow
A$ million
Net cash used in operating activitiesNet cash from / (used in) investing activitiesNet cash used in financing activities
AI-generated presentation · values from Cash-flow subtotals; no missing values plotted as zero.
Five-year consolidated cash and statutory result
A$ million
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 2.945 | 3.146 | 3.936 | 4.216 | 3.678 |
| Profit / (loss) after tax | (3.063) | 3.687 | 2.074 | (6.143) | 15.899 |
A$ million; years ended 30 June. FY2025 uses the FY2026 extraction’s explicitly labelled comparative column.
Statutory result includes disposal, impairment and listed-security valuation effects.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Cash-flow subtotals
A$ million
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Net cash used in operating activities | (2.107) | (0.330) | (0.373) | (0.528) | (1.253) |
| Net cash from / (used in) investing activities | (1.023) | 0.581 | 1.418 | 1.237 | 0.838 |
| Net cash used in financing activities | (0.049) | (0.051) | (0.256) | (0.429) | (0.122) |
Brackets are cash outflows. FY2025/FY2026 use the consolidated FY2026 Statement of Cash Flows.
Investing includes project-sale and listed-security proceeds as well as exploration/tenement payments; it is not operating cash generation.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Five-year consolidated financial position
A$ million
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Total assets | 22.247 | 25.911 | 27.968 | 21.373 | 40.662 |
| Total liabilities | 0.516 | 0.472 | 0.486 | 0.144 | 2.037 |
| Total equity | 21.731 | 25.439 | 27.482 | 21.229 | 38.625 |
All figures are consolidated balance-sheet totals at 30 June. FY2025 is the explicitly labelled comparative in the FY2026 extraction.
Financial assets and exploration carrying values are components of the asset base, not cash.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 02
Statutory earnings were transaction and remeasurement affected
The issuer attributes FY2023–FY2024 profits to the Speewah disposal and restructured payment terms. FY2025 included Mt Remarkable impairment and a Tivan fair-value loss; FY2026 profit was driven by Tivan gains rather than described as mine operating income.
FY2022’s loss included A$1.459m HPA development costs, A$0.054m HPA marketing and A$0.756m write-off of capitalised exploration expense after tenements expired or were surrendered. FY2023’s A$8.615m Speewah sale gain was followed by a A$3.773m non-cash derecognition of deferred-tax assets before the A$3.687m after-tax profit.
The FY2026 cost profile includes a larger share-based-payment charge. Its tax expense followed recognition of deferred-tax balances linked to the unrealised Tivan gain, rather than an additional cash receipt.
Fair-value movement on financial assets
A$ million
Fair-value gain / (loss) on financial assets
AI-generated presentation · values from FY2023–FY2026 investment remeasurement; no missing values plotted as zero.
Income and selected statutory cost drivers
A$ million
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Interest revenue | 0.002324 | 0.000249 | 0.091990 | 0.174548 | 0.079166 |
| Directors’ and employee benefits expense | (0.147) | (0.155) | (0.158) | (0.134) | (0.530) |
| Share-based payments | (0.044) | (0.022) | (0.196) | (0.298) | (1.599) |
| Other administration expense | (0.298) | (0.278) | (0.356) | (0.351) | (0.643) |
| Compliance costs | (0.197) | (0.229) | (0.200) | (0.176) | (0.215) |
| Depreciation expense | (0.052) | (0.041) | (0.030) | (0.045) | (0.044) |
| Finance costs | (0.006) | (0.003) | (0.004) | (0.003) | (0.002) |
| Insurance expense | (0.052) | (0.054) | (0.053) | (0.049) | (0.042) |
| Income tax expense — statutory | 0.000 | (3.773) | 0.000 | 0.000 | (1.695) |
A$ million; brackets denote expenses. Interest revenue is not mining revenue.
The tax line includes FY2023 non-cash deferred-tax-asset derecognition and FY2026 deferred-tax recognition. Reported nil tax is shown as zero. Interest retains extra precision so the FY2023 A$249 is not shown as zero.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FY2023–FY2026 investment remeasurement
A$ million
| Metric | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|
| Fair-value gain / (loss) on financial assets | (0.200) | 0.288 | (0.868) | 18.330 |
Positive fair-value amounts are gains; brackets are losses. This is a profit-or-loss item, not a cash-flow subtotal.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FY2025–FY2026 exploration impairment expense
A$ million
| Metric | FY2025 | FY2026 |
|---|---|---|
| Impairment of capitalised exploration expense | (4.400) | (0.221) |
Brackets denote expense. The FY2026 extraction reports Mt Remarkable impaired to nil at both balance dates while separately reporting a FY2026 impairment expense.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 03
Exploration assets, Mindoolah and listed securities
Mindoolah acquisition costs and ongoing exploration increased the carrying value, partly offset by further impairment. The acquisition includes royalties payable on qualifying future production, not recognised as contingent consideration at acquisition.
The listed-security balance includes both ordinary shares and options where held. It remains a market-valued financial asset, separate from cash and from the exploration properties.
Exploration carrying value through the portfolio transition
A$ million
Capitalised exploration expenditure
AI-generated presentation · values from Exploration carrying value and listed financial assets; no missing values plotted as zero.
Exploration carrying value and listed financial assets
A$ million
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Capitalised exploration expenditure | 19.024 | 7.638 | 9.685 | 7.757 | 10.233 |
Capitalised exploration expenditure is a non-current carrying value, not annual cash expenditure, a resource estimate or a project valuation.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Listed financial assets at fair value through profit or loss
A$ million
| Metric | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|
| Financial assets at FVTPL | 7.400 | 10.088 | 9.220 | 26.550 |
Directly comparable FY2023–FY2026 total balance-sheet amounts; separate from cash and exploration assets.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FY2026 capitalised exploration expenditure roll-forward
A$ million
| Metric | FY2026 |
|---|---|
| Opening balance | 7.757 |
| Expenditure incurred | 1.803 |
| Mindoolah tenement acquisition | 0.905 |
| Government grants and fuel-tax credits | (0.010) |
| Impairment | (0.221) |
| Closing balance | 10.233 |
A$ million at cost. This accounting roll-forward is distinct from the investing cash-flow subtotal.
The Mindoolah acquisition amount is shown separately from expenditure; the impairment is presented as a reduction.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Reading the figures
- All tables use consolidated statutory values or explicitly labelled consolidated comparatives. FY2025 values drawn from FY2026 retain their value-period distinction.
- No revenue or production inference is made from Tivan gains, Speewah consideration, exploration expenditure or capitalised exploration assets.
- The packet directly supports the displayed five-year cash, result and cash-flow series; the displayed listed-financial-asset series begins in FY2023.
- Existing annual-extraction evidence only; not an independent audit of original reports.
- 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
- King River Resources Limited - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- King River Resources Limited - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- King River Resources Limited - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- King River Resources Limited - Annual Report - 30 June 2025Existing annual extraction, including separately identified historical comparatives.
- King River Resources Limited - Annual Report 30 June 2026Existing 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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