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
and on the Company's website at
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/.
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
|
|
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 Future Metals NL
|
10
|
(3,940,051)
|
(7,309,120)
|
|
|
|
|
|
|
|
|
Other comprehensive
income for the year, net of tax
|
|
-
|
-
|
|
|
|
|
|
|
|
|
Total comprehensive (loss)/profit for the year
attributable to the owners of Future Metals NL
|
|
(3,940,051)
|
(7,309,120)
|
|
|
|
|
|
|
|
|
|
|
|
|
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.