Northern Minerals (ASX:NTU) has reported its financial year results, revealing a net loss after tax of A$22.3 million.

This loss shows a slight improvement when compared to the previous financial year’s net loss of A$24.4 million.

The company’s total income for the year is reported at A$1.6 million, a decrease from the previous year’s A$9.3 million.

Northern Minerals specializes in the exploration and development of rare earth minerals in Australia.