This has been a big year for Flynn Gold, with our flagship Golden Ridge Gold Project moving from discovery towards a genuine development opportunity, and our broader Tasmanian portfolio starting to show its potential too.

At Golden Ridge, drilling at Grenadier and Double Event confirmed gold-bearing veins across the 9km mineralised corridor, and we've now registered a Mining Lease Application over 458 hectares covering the key Brilliant and Trafalgar prospects and a proposed processing site. Since year-end, resource definition drilling has started at Brilliant, the first step towards a maiden Mineral Resource Estimate. We've also signed a non-binding Ore Purchase Agreement with the Henty Gold Mine, which could open a lower-capital path to production by using an existing processing plant rather than building our own.

At Firetower, drilling returned strong gold-tungsten-copper results, with tungsten prices running hot on global demand, and we're working towards a maiden resource there too. At Henty, our first drilling in 80 years along the Silver King Trend returned high-grade silver-lead-zinc results, including a standout intercept of 0.4m at 2,450g/t silver, 29.5% lead and 9.0% zinc.

Financially, we reported a net loss of $4,312,371 for the year, reflecting our increased exploration spend, and held cash of $1,114,641 at year-end. We raised approximately $5.0 million through a rights issue and placement during the year, and subsequent to year-end launched a further rights issue to raise up to $3 million. As with any exploration company at this stage, we remain reliant on ongoing funding to progress our projects, and our financial statements are prepared on a going concern basis.

None of our resource targets are yet JORC Mineral Resources, and the Henty ore agreement remains non-binding, so there's real work ahead to convert this exploration success into production.

If you have questions about this report, we'd encourage you to send them through the question box on this page.

Flynn Gold

Annual Reports

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