FY2021
Bowdens lease application
Silver Mines lodged the Bowdens mining lease application in March 2021 and raised A$30 million in share issue proceeds during the year.
ASX: SVL · Five-year financial review
Silver Mines Limited (ASX: SVL) - Five-Year Financial Review FY2021-FY2025
A five-year review of Silver Mines' consolidated Australian-dollar financial statements and Bowdens Silver project disclosures. Annual cash flows and statutory results are distinct from capitalised exploration and dated study estimates; transactions after 30 June 2025 are identified separately.
Reading the tables: 0 (nil) is a supported zero. Other text distinguishes an amount included in another line, a non-applicable item, a separately unavailable component and an unresolved value. These are not interchangeable. Period-specific detail is labelled; complete year-by-year detail remains available.
FY2025 cash
A$19.3m
A$19,299,496 at 30 June 2025.
FY2025 after-tax result
A$3.8m loss
Statutory loss of A$3,768,394.
Capitalised exploration
A$101.7m
A$101,661,960 at 30 June 2025.
FY2025 equity proceeds
A$25.0m
Share issue proceeds in the FY2025 cash-flow statement.
Five years in context
Silver Mines remained an explorer and developer throughout FY2021-FY2025: it reported no income from silver-concentrate sales. The small statutory revenue line relates chiefly to the agricultural segment. Bowdens Silver dominated the asset base, while operating cash flow was negative in each year and equity raisings funded development and exploration.
Statutory profit in FY2021 shifted to losses thereafter. The FY2022 result includes a A$9.85 million fair-value loss on financial assets; FY2024 includes a A$715,000 lease-reassessment gain. These items complicate a simple reading of earnings as project progress. Capitalised exploration rose from A$58.4 million to A$101.7 million, while reported cash fluctuated with placements, investing outlays and the FY2022 reclassification.
The December 2024 Bowdens study and reserve update changed project estimates; permitting remained a material boundary after the Court of Appeal set aside development consent in 2024. The July 2025 completion of Calico North and initial Kramer Hills consideration came after the FY2025 balance date and is excluded from the five-year financial columns.
Events behind the numbers
FY2022
Water plan and cash reclassification
The March 2022 water-supply amendment proposed project self-sufficiency. A$4.86 million of cash was reclassified to financial assets at year-end.
FY2023
Development consent and placement
The NSW Independent Planning Commission approved Bowdens in April 2023, subject to conditions; share issue proceeds were A$18 million for the year.
FY2024
Equity funding; consent set aside after year-end
A February placement and March share purchase plan raised about A$14 million before costs. After 30 June, the Court of Appeal set aside Bowdens development consent.
FY2025
Bowdens update and new US projects
The December 2024 placement raised A$25 million before costs and Bowdens estimates were updated. Calico North completed, and Kramer Hills initial consideration was paid, on 1 July 2025 after year-end.
FINANCIAL REVIEW / 01
Statutory performance and segment activity
Revenue in these statements is mostly agricultural, not silver sales. The FY2022 fair-value loss explains much of that year's statutory loss; the total segment EBITDA series is an issuer-disclosed non-IFRS measure and should be read separately from statutory after-tax profit. FY2021 segment revenue totals A$1 above statutory revenue, so both source presentations are left intact.
Income tax expense was reported nil throughout. This report does not construct an underlying-profit series.
Statutory after-tax result
A$
Profit/(loss) after tax
AI-generated presentation · values from Continuing-operations income statement and EPS; no missing values plotted as zero.
Continuing-operations income statement and EPS
A$ except EPS in cents per share
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| RevenueA$ | 199,482 | 170,479 | 172,214 | 263,129 | 212,972 |
| Cost of salesA$ | -32,277 | -89,599 | -163,098 | -205,293 | -167,250 |
| Gross profitA$ | 167,205 | 80,880 | 9,116 | 57,836 | 45,722 |
| Fair-value movement of financial assets through profit or lossA$ | 4,506,237 | -9,850,201 | -705,860 | 0 (nil) | -264,532 |
| Profit/(loss) before interest and taxA$ | 5,392,070 | -13,362,134 | -4,266,092 | -2,423,983 | -4,180,311 |
| Interest incomeA$ | 101,821 | 165,905 | 249,232 | 217,534 | 416,196 |
| Finance costsA$ | -134,632 | -103,725 | -94,141 | -11,161 | -4,279 |
| Income tax expenseA$ | 0 (nil) | 0 (nil) | 0 (nil) | 0 (nil) | 0 (nil) |
| Profit/(loss) after taxA$ | 5,359,259 | -13,299,954 | -4,111,001 | -2,217,610 | -3,768,394 |
| Basic earnings per sharecents/share | 0.49 | -1.04 | -0.3 | -0.15 | -0.23 |
The fair-value row is one component of statutory result, not an extra subtotal. FY2024 is reported nil.
Tax expense is reported nil in each annual statement; tax reconciliation entries do not mean cash tax paid.
Own-year statutory columns are used. Revenue is principally agricultural and rental activity, not silver concentrate sales.
Basis and presentation notes (6)
- Fair-value movement of financial assets through profit or loss / FY2024 — 0 (nil): Reported as a dash or nil for this line; not a missing extraction.
- Income tax expense / FY2021 — 0 (nil): Reported as a dash or nil for this line; not a missing extraction.
- Income tax expense / FY2022 — 0 (nil): Reported as a dash or nil for this line; not a missing extraction.
- Income tax expense / FY2023 — 0 (nil): Reported as a dash or nil for this line; not a missing extraction.
- Income tax expense / FY2024 — 0 (nil): Reported as a dash or nil for this line; not a missing extraction.
- Income tax expense / FY2025 — 0 (nil): Reported as a dash or nil for this line; not a missing extraction.
Source: Silver Mines annual reports, selected own-year statements and notes; per-cell provenance is in evidence.json.
Revenue and EBITDA by operating segment
A$; segment EBITDA is non-IFRS
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Mining and exploration segment revenueA$ | 13,259 | 0 (nil) | 0 (nil) | 0 (nil) | 0 (nil) |
| Agricultural segment revenueA$ | 186,224 | 170,479 | 172,214 | 263,129 | 212,972 |
| Mining and exploration segment EBITDAA$ | 5,360,398 | -13,212,316 | -3,648,314 | -2,342,565 | -4,245,880 |
| Agricultural segment EBITDAA$ | 304,706 | 104,114 | -339,875 | 152,437 | 294,304 |
| Total segment EBITDAA$ | 5,665,104 | -13,108,202 | -3,988,189 | -2,190,128 | -3,951,576 |
Segment EBITDA is the issuer's segment measure, not statutory profit. The FY2021 segment revenue total is A$199,483, A$1 above statutory revenue of A$199,482; the distinct disclosures are preserved.
Mining and exploration segment revenue is reported nil from FY2022; agricultural segment revenue is not mineral-product revenue.
Basis and presentation notes (4)
- Mining and exploration segment revenue / FY2022 — 0 (nil): Reported as a dash or nil for this line; not a missing extraction.
- Mining and exploration segment revenue / FY2023 — 0 (nil): Reported as a dash or nil for this line; not a missing extraction.
- Mining and exploration segment revenue / FY2024 — 0 (nil): Reported as a dash or nil for this line; not a missing extraction.
- Mining and exploration segment revenue / FY2025 — 0 (nil): Reported as a dash or nil for this line; not a missing extraction.
Source: Silver Mines annual reports, selected own-year statements and notes; per-cell provenance is in evidence.json.
FINANCIAL REVIEW / 02
Financial position and capitalised exploration
Exploration and evaluation assets increased across the period and were the largest non-current asset at 30 June 2025. Current financial assets, which included fair-value investments and preference shares in earlier years, declined to a reported nil balance in FY2025. The A$1.46 million other-assets line in FY2025 is non-current.
The FY2024 lease reassessment removed the existing non-current lease balance; at FY2025 the balance sheet presents only current liabilities. Total equity and net assets agree in each selected year.
Cash at each balance date
A$
Cash and cash equivalents
AI-generated presentation · values from Consolidated financial position at 30 June; no missing values plotted as zero.
Capitalised exploration and evaluation
A$
Capitalised exploration and evaluation
AI-generated presentation · values from Consolidated financial position at 30 June; no missing values plotted as zero.
Consolidated financial position at 30 June
A$; period-end balances
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and cash equivalentsA$ | 31,420,960 | 16,890,242 | 8,051,445 | 10,805,188 | 19,299,496 |
| Trade and other receivablesA$ | 248,078 | 535,708 | 442,115 | 275,007 | 401,205 |
| Livestock inventoryA$ | 371,041 | 563,360 | 333,831 | 389,411 | 562,260 |
| Current financial assetsA$ | 11,936,593 | 5,831,879 | 5,592,011 | 264,532 | 0 (nil) |
| Total current assetsA$ | 43,984,600 | 23,826,004 | 14,421,107 | 11,734,138 | 20,262,961 |
| Capitalised exploration and evaluationA$ | 58,363,389 | 68,809,087 | 82,513,669 | 92,624,423 | 101,661,960 |
| Land and buildingsA$ | 17,582,192 | 19,460,574 | 29,549,339 | 31,141,855 | 32,817,052 |
| Property, plant and equipmentA$ | 4,076,276 | 3,520,225 | 3,475,998 | 931,392 | 922,363 |
| Other non-current assetsA$ | n/p | n/p | n/p | 0 (nil) | 1,460,494 |
| Total non-current assetsA$ | 81,304,382 | 93,707,391 | 116,336,536 | 127,002,744 | 139,384,528 |
| Total assetsA$ | 125,288,982 | 117,533,395 | 130,757,643 | 138,736,882 | 159,647,489 |
| Trade and other payablesA$ | 1,392,754 | 976,582 | 827,081 | 873,865 | 2,230,084 |
| Total current liabilitiesA$ | 1,758,671 | 1,366,433 | 1,258,737 | 1,126,531 | 2,497,946 |
| Non-current lease liabilityA$ | 3,788,858 | 3,485,962 | 3,574,117 | 0 (nil) | n/p |
| Total liabilitiesA$ | 5,547,529 | 4,852,395 | 4,832,854 | 1,126,531 | 2,497,946 |
| Net assets / total equityA$ | 119,741,453 | 112,681,000 | 125,924,789 | 137,610,351 | 157,149,543 |
FY2025 other assets of A$1,460,494 are non-current. The FY2025 A$20,262,961 line is total current assets, not other current assets.
FY2025 liabilities of A$2,497,946 are entirely current in the statement; this amount is not a lease liability. The non-current lease was derecognised in FY2024.
n/p means the line is not separately presented in that year's statement; it is not converted to zero.
Basis and presentation notes (7)
- Current financial assets / FY2025 — 0 (nil): Reported as a dash or nil for this line; not a missing extraction.
- Other non-current assets / FY2021 — n/p: Not separately presented in the selected annual statement.
- Other non-current assets / FY2022 — n/p: Not separately presented in the selected annual statement.
- Other non-current assets / FY2023 — n/p: Not separately presented in the selected annual statement.
- Other non-current assets / FY2024 — 0 (nil): Reported as a dash or nil for this line; not a missing extraction.
- Non-current lease liability / FY2024 — 0 (nil): Reported as a dash or nil for this line; not a missing extraction.
- Non-current lease liability / FY2025 — n/p: No non-current lease-liability line in the FY2025 statement; the earlier balance was derecognised in FY2024.
Source: Silver Mines consolidated statements of financial position, FY2021–FY2025; FY2025 and other selected originals corroborated in author/db-selected.json and db-followup.json.
FINANCIAL REVIEW / 03
Cash use and funding
Operating cash flow and investing cash flow were negative in every year. Payments for deferred exploration were a recurring large investing line; property and equipment cash payments were largest in FY2023. FY2025 also shows a separate US-project investment cash line.
Share issues drove the larger financing inflows. FY2022 was different: no share-issue proceeds were reported in that year's cash-flow statement, while option conversion contributed A$5.44 million. The FY2021 cash-flow classifications in its own report differ from the later FY2022 comparative by a A$200,000 grant reclassification.
Operating and investing cash use
A$
Net operating cash flowNet investing cash flow
AI-generated presentation · values from Cash flow by activity; no missing values plotted as zero.
Cash flow by activity
A$; consolidated cash movements
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Net operating cash flowA$ | -1,628,026 | -1,961,714 | -2,491,262 | -2,301,721 | -2,550,383 |
| Net investing cash flowA$ | -9,157,782 | -13,152,354 | -23,267,535 | -8,395,407 | -12,346,452 |
| Net financing cash flowA$ | 30,082,366 | 5,444,837 | 16,920,000 | 13,450,871 | 23,391,143 |
| Net change before reclassificationA$ | 19,296,558 | -9,669,231 | -8,838,797 | 2,753,743 | 8,494,308 |
| Cash reclassification to financial assetsA$ | n/p | -4,861,487 | 0 (nil) | n/p | n/p |
FY2021 uses its own annual-report classification. The FY2022 report's FY2021 comparative reallocates A$200,000 of grant cash from operating to investing, without changing overall cash movement; do not compare that later comparative as a second FY2021 observation.
FY2022 cash fell by A$9,669,231 from activities and A$4,861,487 was reclassified to financial assets. This explains why the cash balance decline exceeds net cash movement.
Operating and investing flows are cash movements; they are distinct from accrual profit and the capitalised exploration balance.
Basis and presentation notes (4)
- Cash reclassification to financial assets / FY2021 — n/p: No reclassification line in the own-year FY2021 cash-flow statement; the FY2022 report's FY2021 comparative shows a dash.
- Cash reclassification to financial assets / FY2023 — 0 (nil): Reported as a dash or nil for this line; not a missing extraction.
- Cash reclassification to financial assets / FY2024 — n/p: Not separately presented in the selected annual statement.
- Cash reclassification to financial assets / FY2025 — n/p: Not separately presented in the selected annual statement.
Source: Silver Mines annual reports, selected own-year statements and notes; per-cell provenance is in evidence.json.
Selected investing cash outflows
A$; payments shown as negative
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Payments for deferred explorationA$ | -8,431,306 | -12,726,318 | -13,783,977 | -10,141,969 | -9,499,957 |
| Payments for property, plant and equipmentA$ | -2,026,290 | -2,355,083 | -8,894,012 | -528,838 | -1,828,689 |
| Payments to acquire intangible assetsA$ | -797,344 | -330,000 | -290,455 | -3,062,079 | -280,800 |
| Investment on US projectsA$ | Not applicable | Not applicable | Not applicable | 0 (nil) | -734,006 |
These are gross selected investing lines, not a reconciliation of all investing activities. The FY2025 US-projects cash line is a FY2025 flow; the Calico North completion and Kramer Hills initial payment occurred after 30 June 2025. The US-project cash row is not applicable to FY2021–FY2023 before the FY2025 Calico North and Kramer Hills arrangements; FY2024 is source-supported nil and FY2025 is the reported cash amount.
The cash payments for deferred exploration need not equal the annual addition to capitalised exploration or reported exploration and development expenditure.
Basis and presentation notes (4)
- Investment on US projects / FY2021 — Not applicable: This project-specific cash line predates the FY2025 US-project agreements described in R004118; the FY2025 statement first presents this line and gives an FY2024 comparative. No FY2021 US-project transaction amount is assigned.
- Investment on US projects / FY2022 — Not applicable: This project-specific cash line predates the FY2025 US-project agreements described in R004118; the FY2025 statement first presents this line and gives an FY2024 comparative. No FY2022 US-project transaction amount is assigned.
- Investment on US projects / FY2023 — Not applicable: This project-specific cash line predates the FY2025 US-project agreements described in R004118; the FY2025 statement first presents this line and gives an FY2024 comparative. No FY2023 US-project transaction amount is assigned.
- Investment on US projects / FY2024 — 0 (nil): Reported as a dash or nil for this line; not a missing extraction.
Source: Silver Mines annual reports, selected own-year statements and notes; per-cell provenance is in evidence.json.
Selected financing cash flows
A$; consolidated cash movements
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Proceeds from share issuesA$ | 30,000,000 | 0 (nil) | 18,000,000 | 14,000,003 | 25,000,000 |
| Option conversion proceedsA$ | 2,959,189 | 5,444,837 | 0 (nil) | n/p | n/p |
| Capital raising costs paidA$ | -1,867,586 | 0 (nil) | -1,080,000 | -549,132 | -1,608,857 |
FY2024 share issue proceeds of A$14,000,003 are the statutory cash-flow figure; individual placement and SPP announcements use rounded gross amounts.
The FY2025 A$25 million share-proceeds line relates to the December 2024 placement. The August 2025 placement falls after this financial year.
Basis and presentation notes (5)
- Proceeds from share issues / FY2022 — 0 (nil): Reported as a dash or nil for this line; not a missing extraction.
- Option conversion proceeds / FY2023 — 0 (nil): Reported as a dash or nil for this line; not a missing extraction.
- Option conversion proceeds / FY2024 — n/p: No separate option-conversion proceeds line in the FY2024 cash-flow statement.
- Option conversion proceeds / FY2025 — n/p: No separate option-conversion proceeds line in the FY2025 cash-flow statement.
- Capital raising costs paid / FY2022 — 0 (nil): Reported as a dash or nil for this line; not a missing extraction.
Source: Silver Mines annual reports, selected own-year statements and notes; per-cell provenance is in evidence.json.
FINANCIAL REVIEW / 04
Shareholder funding and returns
Contributed equity and the ordinary share count expanded through the five years. The issuer stated that no dividends were declared or paid in each year; the annual reports' on-market buy-back status disclosures cover a narrower question and are not treated as a comprehensive five-year buy-back total.
The August 2025 A$30 million placement and subsequent share purchase plan occurred after the FY2025 balance date and are excluded from FY2025 share proceeds and closing shares. The FY2025 option movement table's grants total conflicts with its grant tranches; its closing balance agrees with the tranche-end balances and is retained in the table.
Equity and ordinary share base at 30 June
A$ except shares on issue
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Contributed equityA$ | 142,477,202 | 148,747,656 | 165,667,656 | 179,118,526 | 202,509,669 |
| Equity reservesA$ | 2,418,070 | 2,387,117 | 2,821,907 | 3,274,209 | 3,190,652 |
| Accumulated lossesA$ | -25,153,819 | -38,453,773 | -42,564,774 | -44,782,384 | -48,550,778 |
| Ordinary shares on issueshares | 1,196,692,406 | 1,291,832,143 | 1,404,332,143 | 1,508,036,257 | 1,779,775,392 |
| Share options outstandingoptions | 103,077,361 | 14,000,000 | 19,000,000 | 19,000,000 | 110,880,739 |
The reserves row is the balance-sheet total; a separate share-based-payment reserve component in the statement of changes in equity is smaller by the A$2 million share-capital reserve.
Dividends were reported as not declared or paid in each of the five years. No five-year buy-back total is inferred from the narrower on-market buy-back status disclosures.
The FY2025 closing options balance agrees with the disclosed tranche-end balances. The same table's aggregate grants row is inconsistent with its grant tranches and is omitted.
Source: Silver Mines annual reports, selected own-year statements and notes; per-cell provenance is in evidence.json.
FINANCIAL REVIEW / 05
Bowdens Silver estimates and operating progress
Reserve and resource tables show dated estimates, not a five-year production series. The December 2024 reserve update increased contained silver against the prior estimate; the mineral resource update changed cut-offs, metal-price and recovery assumptions, and domains. No silver-concentrate sales are recorded in the period.
The December 2024 optimisation study reported higher post-tax NPV and payable silver than the June 2018 feasibility study, alongside higher capital and unit-cost estimates. These are issuer study outputs under different dates and assumptions, and development consent was still subject to redetermination after the 2024 Court of Appeal decision.
FY2025 work included Bara Creek and Bowdens drilling. The FY2025 report also describes California transactions whose completion or initial consideration fell on 1 July 2025; they should not be read as FY2025 acquired production or closing-period ownership cash flows.
Bowdens Silver Ore Reserve: estimate snapshots
Mixed units shown per row; not annual production
| Metric | 2018 estimate | Dec 2024 estimate |
|---|---|---|
| Ore Reserve tonnesMt | 29.9 | 32.8 |
| Silver gradeg/t | 69.01 | 68 |
| Contained silverMoz | 66.32 | 71.7 |
The prior estimate was repeated in FY2021–FY2024 annual reports; repeated disclosures are shown once. These are estimate versions, not five annual operating results.
The FY2025 annual report discloses the updated December 2024 reserve. Mineral inventory and future production are different concepts.
Source: Silver Mines annual reports, selected own-year statements and notes; per-cell provenance is in evidence.json.
Bowdens Silver Mineral Resource: estimate snapshots
Measured + Indicated + Inferred; mixed units per row
| Metric | 2017 estimate | 2023 estimate | 2024 update |
|---|---|---|---|
| Resource tonnesMt | 128 | 200 | 179 |
| Silver gradeg/t | 40 | 29 | 31 |
| Contained silverMoz | 163 | 189 | 180 |
The issuer's resource estimates were updated in 2023 and 2024. Different metal prices and silver-equivalent assumptions limit direct like-for-like interpretation; these are dated estimates, not mined output.
Source: Silver Mines annual reports, selected own-year statements and notes; per-cell provenance is in evidence.json.
Bowdens Silver: feasibility assumptions by study
Mixed units shown per row
| Metric | June 2018 FS | Dec 2024 optimisation |
|---|---|---|
| Initial capital including contingencyA$m | 246 | 331.6 |
| Life-of-mine capitalA$m | 299.9 | 346.4 |
| C1 cash costUS$/oz | 11.6 | 15.59 |
| All-in sustaining costUS$/oz | 12.94 | 16.62 |
| Post-tax NPV at 5%A$m | 71 | 253 |
| Pre-tax IRR% | 17.9 | 21 |
| Post-tax paybackyears | 4.8 | 3.9 |
| Life-of-mine payable silverMoz | 48.1 | 50.3 |
Issuer study outputs are scenario estimates, not historical earnings, production, cash flows or forecasts by this report.
The newer study has higher NPV and payable-silver estimates, but also higher initial/life-of-mine capital and unit cash/AISC estimates. Different assumptions and dates limit a pure operating-performance comparison.
Source: Silver Mines annual reports, selected own-year statements and notes; per-cell provenance is in evidence.json.
Selected FY2025 diamond drilling activity
metres drilled
| Metric | FY2025 |
|---|---|
| Bara Creek diamond drillingm | 2,466 |
| Bowdens geo-metallurgical programmem | 2,099 |
| Bowdens extension beneath reservem | 626 |
| Bowdens geotechnical programmem | 272 |
The geo-metallurgical, extensional and geotechnical figures are distinct programmes stated for the second half of FY2025. They are not summed with Bara Creek into a company-wide drilling total.
Source: Silver Mines annual reports, selected own-year statements and notes; per-cell provenance is in evidence.json.
Reading the figures
- The five annual columns are the reported years ended 30 June; 2017/2018/2023/2024 project snapshots are separate estimate dates.
- A$ values are shown in reported dollars unless a row states millions; US$/oz study costs are left in their original currency and never combined with A$ series.
- Nil means the issuer presented a nil/dash for that line; n/p means the line was not separately presented. Neither state is plotted as zero.
- FY2021 cash-flow operating and investing lines use the FY2021 original; the FY2022 comparative reallocates A$200,000 between them, with no change in total cash movement.
- The FY2025 share-option grants total conflicts with its tranche arithmetic; the closing balance reconciles to tranche-end balances and is shown.
- The Bowdens study is a dated scenario comparison, and the NSW development-consent status limits any inference from project estimates to realised financial performance.
Annual-report source registry
- Silver Mines Limited Annual Report 2021Year ended 2021-06-30; document dated 2021-09-24. Own-year statement columns selected; later comparatives identified where discussed.
- Silver Mines Limited Annual Report 2022Year ended 2022-06-30; document dated 2022-09-30. Own-year statement columns selected; later comparatives identified where discussed.
- Silver Mines Limited Annual Report 2023Year ended 2023-06-30; document dated 2023-09-29. Own-year statement columns selected; later comparatives identified where discussed.
- Silver Mines Limited Annual Report 2024Year ended 2024-06-30; document dated 2024-09-30. Own-year statement columns selected; later comparatives identified where discussed.
- Silver Mines Limited Annual Report 2025Year ended 2025-06-30; document dated 2025-09-30. Own-year statement columns selected; later comparatives identified where discussed.
Prepared from the existing annual extraction datasets, supplemented only by selected same-company annual-report tables and saved row interpretations. No new raw-document extraction or web financial research was used for this test.
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AI-led method
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