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 ASX: A1M three statement modelYear -2Year -1Year 0Year 1Year 2Year 3
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All figures in AUD '000s unless stated otherwise30 June 202330 June 202430 June 202530 June 202630 June 202730 June 2028
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Statement of profit or loss and other comprehensive income
30 June 202330 June 202430 June 202530 June 202630 June 202730 June 2028
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Sales revenue 125,635 180,515 189,554 235,700 293,080 364,429
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Cost of sales (88,487) (112,264) (105,110) (131,366) (163,345) (203,111)
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Depreciation and amortisation expenses (29,564) (39,879) (43,125) (46,431) (49,282) (54,850)
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Corporate and administration costs (5,386) (6,959) (8,843) (10,062) (12,512) (15,558)
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Exploration and evaluation costs (5,388) (6,600) (13,345) (11,773) (14,639) (18,203)
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Share-based payment expense (2,025) (2,628) (3,234) (3,751) (4,664) (5,799)
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Transaction and integration costs (1,485) - - - - -
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Other income 70 104 4,296 1,870 2,325 2,891
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Interest income 540 1,283 2,209 #REF!#REF!#REF!
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Interest expense (1,077) (2,017) (3,955) (3,638)#REF!#REF!
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Fair value profit/(loss) on financial assets 6 (144) 233 - - -
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(Loss) on sale of plant and equipment 4 (221) (306) - - -
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Profit before income tax expense (7,157) 11,190 18,374 #REF!#REF!#REF!
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Income tax expense 1,342 (3,496)(3,416)#REF!#REF!#REF!
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Net profit for the year after tax (5,815) 7,694 14,958 #REF!#REF!#REF!
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Other comprehensive income
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Total comprehensive income for the year (5,815) 7,694 14,958 #REF!#REF!#REF!
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 Statement of financial position30 June 202330 June 202430 June 202530 June 202630 June 202730 June 2028
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Cash and cash equivalents 30,888 74,341 60,925 #REF!#REF!#REF!
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Trade and other receivables 1,021 1,975 3,650 2,934 3,646 4,534
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Inventories 10,834 9,545 13,715 14,520 18,055 22,450
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Financial assets at fair value through profit and loss 6,864 13,285 28,791 21,830 27,145 33,753
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 Total current assets 49,607 99,146 107,081 #REF!#REF!#REF!
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Right of use assets 467 130 32,033 39,831 49,528 61,585
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Performance bond 4,354 5,685 - - - -
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Property, plant and equipment 40,840 44,031 63,741 71,122 88,437 216,926
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Exploration properties 39,972 49,243 3,152 3,152 3,152 3,152
Assuming focus shifts to Jericho, no impairments, no capitalisations (couldn't see policy)
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Mines under construction - - 90,974 145,776 213,919 -
Assuming commercial production achieved end of June 2026
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Mine properties 57,274 68,551 79,260 #REF!#REF!#REF!
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Deferred tax assets 2,187 - - - - -
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Other non-current assets - - 678 678 678 678
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Total non-current assets 145,094 167,640 269,838 #REF!#REF!#REF!
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Total assets 194,701 266,786 376,919 #REF!#REF!#REF!
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Trade and other payables 14,769 16,308 21,437 39,388 48,977 60,900
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 Provisions 2,329 4,073 5,513 5,526 6,866 8,533
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Interest bearing liabilities 826 2,944 6,403 #REF!#REF!#REF!
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Lease liabilities 261 92 9,011 9,707 #REF!#REF!
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Total current liabilities 18,185 23,417 42,364 #REF!#REF!#REF!
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 Provisions 20,480 19,851 22,217 #REF!#REF!#REF!
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Interest bearing liabilities 1,609 3,893 6,439 10,294 10,914 11,656
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Lease liabilities 136 65 23,445 25,255 #REF!#REF!
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Deferred tax liabilities - 446 3,156 3,156 3,156 3,156
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Total non-current liabilities 22,225 24,255 55,257 #REF!#REF!#REF!
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Total liabilities 40,410 47,672 97,621 #REF!#REF!#REF!
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Net assets 154,291 219,114 279,298 #REF!#REF!#REF!
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Issued capital 151,932 206,628 248,823 248,823 248,823 248,823
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Share-based payment reserve 2,640 5,075 8,106 10,449 13,298 16,787
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Option reserve 409 409 - - - -
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Accumulated profit (692) 7,002 22,369 #REF!#REF!#REF!
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Total equity 154,289 219,114 279,298 #REF!#REF!#REF!
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Check 2 - - #REF!#REF!#REF!
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 Statement of cash flows (reference)30 June 202330 June 202430 June 202530 June 202630 June 202730 June 2028
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 Projections30 June 202330 June 202430 June 202530 June 202630 June 202730 June 2028
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 Assumptions and drivers
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Revenue growth rate43.68%5.01%24.34%24.34%24.34%
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Gross margin proportion29.57%37.81%44.55%37.31%37.31%37.31%
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Corporate and administration proportion of sales revenue4.29%3.86%4.67%4.27%4.27%4.27%
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Exploration and evaluation expense proportion of sales revenue4.29%3.66%7.04%5.00%5.00%5.00%
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Share-based payment expense proportion of sales revenue1.61%1.46%1.71%1.59%1.59%1.59%
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Other income proportion of sales revenue0.06%0.06%2.27%0.79%0.79%0.79%
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Effective tax rate-18.75%-31.24%-18.59%-22.86%-22.86%-22.86%
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 Projections
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Sales revenue
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Historical sales revenue 125,635 180,515 189,554
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Projected sales revenue growth rate24.34%24.34%24.34%
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 Projected sales revenue 189,554 235,700 293,080 364,429
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Cost of sales
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Cost of sales
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Mine operating costs 80,746 102,593 94,997
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Royalty and transport costs 7,741 9,671 10,113
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 Total cost of sales 88,487 112,264 105,110
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Check - - -
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Mine operating costs proportion of sales revenue64.27%56.83%50.12%50.12%50.12%50.12%
Obvious downward trend, revenue increasing more than costs given copper price
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Royalty and transport costs proportion of sales revenue6.16%5.36%5.34%5.62%5.62%5.62%
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Projected mine operating costs 94,997 118,124 146,880 182,637
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Projected royalty and transport costs 10,113 13,242 16,465 20,474
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 Projected total cost of sales 105,110 131,366 163,345 203,111
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