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The multi-year record shows negligible, irregular revenue alongside recurring operating and free-cash outflows, so exploration and corporate activity have relied on equity financing rather than operating cash generation. Cash spending varies with project activity, while non-cash share settlements can make reported losses diverge sharply from cash burn.
FY26’s much larger accounting loss chiefly reflects recapitalisation-related share-based payments, while cash flow remained negative. This changed the scale of reported earnings more than the underlying reliance on external funding.
Whether Mt Thirsty work can proceed while operating cash outflows remain contained and the company continues to rely on external funding.
| Metric | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| 12.5k | 11.6k | 22.6k | 23k | 1.1k | 1.9k | 90.1k | 34.7k | 3.7k | 35k | |
| (338.2k) | (827.2k) | (531.2k) | (469.2k) | (1.1m) | (944.1k) | (974.4k) | (769.1k) | (626.3k) | (13.6m) | |
| (229.4k) | (665.2k) | (445.3k) | (399.1k) | (867.9k) | (596k) | (596.3k) | (542.5k) | (414.1k) | (13.5m) | |
| (35.7k) | 0 | — | — | — | — | — | — | — | — | |
| (1.7k) | (1.5k) | (1.2k) | (1k) | (5.8k) | (5.1k) | (9.6k) | (30.1k) | (77.6k) | (1.9k) | |
| (71.4k) | (160.4k) | (84.7k) | (69.1k) | (188.7k) | (343k) | (368.6k) | (196.5k) | (134.6k) | (170.4k) | |
| (325.7k) | (815.6k) | (508.5k) | (446.2k) | (1.1m) | (942.2k) | (884.3k) | (734.4k) | (622.6k) | ||
| 0 | — | — | (8.3k) | (13.8k) | 2k | (1.3k) | (400) | (3.2k) | (25.1k) | |
| — | — | — | 8.3k | — | — | — | — | — | — | |
| 0 | — | — | — | — | — | — | (34.3m) | (1.5m) | (241.2k) | |
| (325.7k) | (815.6k) | (508.5k) | (454.6k) | (1.1m) | (940.2k) | (885.7k) | (35.1m) | (2.1m) | (13.9m) | |
| 0 | 40.3k | 40k | 104.6k | 80k | 0 | 0 | 0 | 0 | 0 | |
| (325.7k) | (775.3k) | (468.5k) | (350k) | (995.1k) | (940.2k) | (885.7k) | (35.1m) | (2.1m) | (13.9m) | |
| (325.7k) | (775.3k) | (468.5k) | (350k) | (995.1k) | (940.2k) | (885.7k) | (35.1m) | (2.1m) | ||
| (0.05) | (0.12) | (0.07) | (0.04) | (0.07) | (0.04) | (0.03) | (1.17) | (0.05) |
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Stock intrinsic value is the real worth of a company's stock, based on its financial health and performance.
Instead of looking at the stock's current market price, which can change due to people's opinions and emotions, intrinsic value helps us understand if a stock is truly a good deal or not.
By focusing on the company's actual financial strength, like its earnings and debts, we can make better decisions about which stocks to buy and when.
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