REG - Future Metals NL - Final Results for the Year Ended 30 June 2024
30/09/2024 13:30
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RNS Number : 2819G Future Metals NL 30 September 2024
30 September 2024
Future Metals NL
Final Results for the Year Ended 30 June 2024 and
Corporate Governance Statement
Future Metals NL ("Future Metals" or the "Company", ASX | AIM: FME) is pleased
to announce the Company's final consolidated audited results for the year
ended 30 June 2024.
Please see below key extracts from the Company's Annual Report and Accounts
for the year ended 30 June 2024, as follows:
· Consolidated Statement of Profit or Loss and Other Comprehensive
Income
· Consolidated Statement of Financial Position
· Consolidated Statement of Changes in Equity
· Consolidated Statement of Cash Flows
Further details on the Company's activities during the year are set out in the
Directors' Report, which can be found in the full Report and Accounts
available at the following
link: http://www.rns-pdf.londonstockexchange.com/rns/2819G_1-2024-9-30.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/2819G_1-2024-9-30.pdf) and on
the Company's website at
https://future-metals.com.au/investor-centre/reports/annual-reports/
(https://future-metals.com.au/investor-centre/reports/annual-reports/) .
The Company has also released its Appendix 4G: Key to Disclosures - Corporate
Governance Council Principles and Recommendations and its Corporate Governance
Statement to the Australian Securities Exchange ("ASX"). Copies of these
documents are also available on the Company's website
at https://future-metals.com.au/ (https://future-metals.com.au/) .
This announcement has been approved for release by the Board of Future Metals
NL.
For further information, please contact:
Future Metals NL +61 8 9480 0414
Patrick Walta info@future-metals.com.au (mailto:info@future-metals.com.au)
Strand Hanson Limited (Nominated Adviser and UK Broker) +44 (0) 207 409 3494
James Bellman / Rob Patrick
Consolidated Statement of Profit or Loss and Other Comprehensive Income
for the year ended 30 June 2024
Note 30 June 2024 30 June 2023
$ $
Other income
Interest received 28,720 98,723
Other income 49,673 194,644
Expenses
Employee and director benefits expense (801,495) (705,024)
Professional and consultants (195,552) (304,129)
ASX and AIM share registry fees (319,012) (438,311)
Share-based payments expense 16 (600,625) (607,758)
Travel expenditure (46,488) (104,197)
Exploration expenditure (1,458,646) (4,857,267)
Other expense (574,344) (566,077)
Depreciation and amortisation (9,687) (21,459)
Unrealised foreign exchange gain / (loss) (12,595) 1,735
Loss before income tax expense (3,940,051) (7,309,120)
Income tax expense 2 - -
Loss after income tax expense for the year attributable to the owners of 10 (3,940,051) (7,309,120)
Future Metals NL
Other comprehensive income for the year, net of tax - -
Total comprehensive (loss)/profit for the year attributable to the owners of (3,940,051) (7,309,120)
Future Metals NL
Cents Cents
Basic earnings per share 15 (0.91) (1.82)
Diluted earnings per share 15 (0.91) (1.82)
The above Consolidated Statement of Profit or Loss and Other Comprehensive
Income should be read in conjunction with the accompanying notes in the full
Report and Accounts.
Consolidated Statement of Financial Position
as at 30 June 2024
Note 30 June 2024 30 June 2024
$ $
Assets
Current assets
Cash and cash equivalents 3 2,291,466 2,705,754
Other receivables 7,615 120,519
Total current assets 2,299,081 2,826,273
Non-current assets
Property, plant and equipment 51,075 60,761
Deferred exploration and evaluation expenditure 4,6 17,857,710 16,609,916
Total non-current assets 17,908,785 16,670,677
Total assets 20,207,866 19,496,950
Liabilities
Current liabilities
Trade and other payables 7 344,223 576,018
Provisions 37,577 30,195
Total current liabilities 381,800 606,213
Total liabilities 381,800 606,213
Net assets 19,826,066 18,890,737
Equity
Issued capital 8 40,798,846 36,524,091
Reserves 9 2,451,123 3,628,232
Accumulated losses 10 (23,423,903) (21,261,586)
Total equity 19,826,066 18,890,737
The above Consolidated Statement of Financial Position should be read in
conjunction with the accompanying notes in the full Report and Accounts.
Consolidated Statement of Changes in Equity
for the year ended 30 June 2024
Total equity
Issued capital Share-based payments reserves Accumulated losses
Consolidated $ $ $ $
Balance at 1 July 2022 29,689,231 3,076,807 (13,952,466) 18,813,572
Loss after income tax expense for the year - - (7,309,120) (7,309,120)
Other comprehensive income for the year, net of tax - - - -
Total comprehensive (loss)/profit for the year - - (7,309,120) (7,309,120)
Transactions with owners:
Share-based payments (note 16) - 607,758 - 607,758
Shares issued during the year, net of transaction costs (note 8) 6,834,860 (56,333) - 6,778,527
Balance at 30 June 2023 36,524,091 3,628,232 (21,261,586) 18,890,737
Total equity
Issued capital Share-based payments reserves Accumulated losses
Consolidated $ $ $ $
Balance at 1 July 2023 36,524,091 3,628,232 (21,261,586) 18,890,737
Loss after income tax expense for the year - - (3,940,051) (3,940,051)
Other comprehensive income for the year, net of tax - - - -
Total comprehensive (loss)/profit for the year - - (3,940,051) (3,940,051)
Transactions with owners in their capacity as owners:
Share-based payments (note 16) - 600,625 - 600,625
Shares issued during the year, net of transaction costs (note 8) 4,274,755 - - 4,274,755
Exercise of performance rights - (1,777,734) 1,777,734 -
Balance at 30 June 2024 40,798,846 2,451,123 (23,423,903) 19,826,066
The above Consolidated Statement of Changes in Equity should be read in
conjunction with the accompanying notes in the full Report and Accounts.
Consolidated Statement of Cash Flow
for the year ended 30 June 2024
Note 30 Jun 2024 30 Jun 2023
$ $
Cash flows from operating activities
Payments to suppliers and employees (1,920,089) (2,041,123)
Payment for exploration and evaluation (1,550,074) (4,778,135)
Interest received 28,720 98,723
Other receipts 49,673 146,924
Net cash used in operating activities 20 (3,391,770) (6,573,611)
Cash flows from investing activities
Payments for property, plant and equipment - (41,723)
Payment for tenement acquisition stamp duty - (447,115)
Net cash used in investing activities - (488,838)
Cash flows from financing activities
Proceeds from issue of shares 8 3,256,030 6,901,345
Transaction costs on issue of shares 8 (266,569) (466,484)
Net cash from financing activities 2,989,461 6,434,861
Net decrease in cash and cash equivalents (402,309) (627,588)
Cash and cash equivalents at the beginning of the financial year 2,705,754 3,331,607
Effects of exchange rate changes on cash and cash equivalents (11,979) 1,735
Cash and cash equivalents at the end of the financial year 3 2,291,466 2,705,754
The above Consolidated Statement of Cash Flow should be read in conjunction
with the accompanying notes in the full Report and Accounts.
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