Latest Annual Report News

Canyon Resources has advanced construction at its Minim Martap bauxite project, but a lender’s drawdown suspension has delayed first shipment and created material uncertainty over the company’s ability to continue as a going concern. The annual report also details a recommended rejection of A2MP’s A$0.05-a-share takeover offer.

Cassius Mining reported a deeper FY2026 loss, negative net assets and a material uncertainty over its ability to continue as a going concern. The company is relying on further funding, a possible Ghana arbitration award and progress at its Soalara limestone project to support its next phase.

Botala Energy’s Serowe CBM project has reached its most important testing phase after well 3.5B delivered strong early water production and casing pressure. The operational progress is material, but the company still faces a funding hurdle and has not yet demonstrated sustained commercial gas flow.

Rincon Resources posted a $6.96 million FY2026 loss after writing down $5.53 million of exploration assets, while its cash balance rose following a $3.1 million placement. The explorer has narrowed its focus to Telfer South and Crackerbox, but remains dependent on future drilling and funding.

Killi Resources has emerged from FY2026 with $14.68 million in cash and a far larger strategic ambition, centred on its proposed 80% acquisition of the Lodestone Iron Ore Project. The company remains loss-making and the transaction was still conditional at year-end, but a 20,000-metre drilling campaign is now targeting rapid resource growth.

Rumble Resources has moved Western Queen closer to a potential 2027 gold start, pairing a larger resource with third-party processing access and A$10 million in royalty funding. The project remains pre-production, however, with approvals, financing, feasibility work and a final investment decision still outstanding.

HiTech Group Australia delivered a weaker FY2026 profit and lower revenue, but finished with $10.56 million in cash and no debt before completing its Hudson acquisition. The post-year-end deal and $4 million institutional raise now place execution, funding and integration at the centre of the story.

Axel REE has more than doubled the Woolrich resource to 264.6 million tonnes and delivered its first Indicated classification at the Brazilian rare earths project. The upgrade comes as the loss-making explorer prepares a controlled in-situ recovery field validation program, with A$5.73 million in cash at year-end.

Infini Resources has expanded and intensified its Canadian uranium exploration, but the ASX-listed explorer remains dependent on future funding despite ending FY26 with A$6.36 million in cash. Its auditor highlighted a material uncertainty over the company’s ability to continue as a going concern.

Avira Resources has expanded its Mt Cattlin drilling story with encouraging high-grade results, but the explorer’s annual report carries a material uncertainty over its ability to continue without further capital. The company ended FY2026 with $1.45 million in cash against a $986,980 loss and $1.21 million in operating and investing outflows.

Eureka Group Holdings delivered FY26 underlying earnings ahead of guidance as its all-age rental portfolio expanded rapidly, but statutory profit fell and borrowings more than doubled. The next test is whether acquisitions, development and new capital partnerships can convert scale into durable cash returns.

Krakatoa Resources advanced drilling at its flagship Zopkhito antimony-gold project in Georgia, but the exploration push more than doubled its annual loss and reduced cash to $739,459. The company subsequently raised $4 million, highlighting the funding needed to keep moving towards a maiden JORC-compliant resource.