Wingara AG has finalised the sale of its JC Tanloden machinery and reported a cash balance of $531,000 as of June 30, 2025, while the anticipated Terra Firma transaction remains unresolved.
- Cash position at $531,000 as of June 30, 2025
- Sale of JC Tanloden machinery completed with full payment received
- Processing operations ceased in November 2024
- Terra Firma Placement and Loan agreement unlikely to complete
- Ongoing site lease obligations and cost control remain priorities
Wingara AG’s Financial Snapshot
Wingara AG Limited (ASX, WNR) has released its quarterly activities report for the period ending 30 June 2025, revealing a cash position of $531,000. This follows the company’s cessation of processing operations in November 2024 and the subsequent sale of its primary machinery assets.
The sale of the JC Tanloden machinery, a key asset, was approved by shareholders in April 2025 and has now been fully settled, with the final payment of $250,000 plus GST received during the quarter. The machinery has been transferred to the new owners and is expected to be dismantled shortly, marking a significant step in Wingara’s transition away from its previous operational model.
Operational and Financial Management
Despite the wind-down of processing activities, Wingara continues to manage ongoing site obligations, including lease payments for its Epsom facility, which are due to expire in February 2026. The company also maintains storage services at the site, providing a modest operational footprint while focusing on stringent cost control and liability management.
Cash flow from operating activities was negative $291,000 for the quarter, reflecting the company’s reduced operational scale. However, proceeds from the machinery sale contributed $292,000 in investing cash inflows, partially offsetting the operating cash outflows. Financing activities saw a net outflow of $117,000, primarily related to lease repayments and other costs.
Uncertain Transaction Prospects
Wingara is actively exploring transaction opportunities to reshape its future, but the previously announced Terra Firma Equity Limited placement and loan agreement, disclosed in April and May 2025, is now considered unlikely to complete. The company is reviewing its legal position regarding these agreements and remains committed to acting in shareholders’ best interests.
Payments to related parties during the quarter, amounting to $64,000, were for director fees and salaries, consistent with prior disclosures. Wingara’s financial disclosures comply with ASX Listing Rule requirements, providing transparency on its cash flows and ongoing commitments.
Looking Ahead
With just over two quarters of funding available based on current cash and financing facilities, Wingara’s immediate focus will be on securing new transaction opportunities and managing its remaining obligations. The company’s strategic direction remains in flux, hinging on the outcome of ongoing negotiations and market conditions.
Bottom Line?
Wingara’s next moves on transaction opportunities will be pivotal in defining its financial and operational future.
Questions in the middle?
- What alternative transaction opportunities is Wingara currently pursuing?
- How will Wingara manage lease and operational costs beyond February 2026?
- What are the potential legal implications of the incomplete Terra Firma agreements?