Poised to become kingmaker of Sirius Resources' Nova project, new figures have laid bare the true scope of prospector Mark Creasy's investment arm, showing a cash poor, asset rich company.
Yearly financials lodged with the Australian Securities and Investments Commission and obtained by WestBusiness show Mr Creasy's prime investment arm Yandal Investments - which houses his diverse range of shareholdings in mainly exploration companies - reported a net profit of $21.6 million in the 2013 financial year.
The figure is up on its $28,182 net profit the previous year.
Mr Creasy, who according to The West Australian's Rich List is worth $539 million, said yesterday he took no notice of Yandal's financial position.
"As long as I am solvent and I have enough money to spend on exploration, I'm happy," he said.
"But I tell you what, Yandal was worth a lot more at June 30 than it is today. It's been a very, very tough second half of the year for the exploration companies."
At June 30, Yandal had total equity of $195 million, up from $173 million during 2012. Yet the company is cash poor with $1.78 million on hand - down from $3.1 million in 2012.
Yandal is home to Mr Creasy's 17.3 per cent stake in Sirius Resources, which was yesterday worth $104 million.
But the real intrigue surrounding Mr Creasy's financial position is centred on his 30 per cent direct interest in Nova, yesterday worth about $130 million.
The interest is free-carried until a decision to mine, which is expected later this year.
Speaking on the much-anticipated deal between the two entities, Mr Creasy would only indicate it was "logical and reasonable" to keep the project under one hat - Sirius.
"But sometimes logic goes in different directions," he said.
It is expected that Mr Creasy will convert his Nova stake into Sirius shares.