Latest Annual Reports News

Norwest Minerals has strengthened the technical case for its Bulgera heap-leach project with a revised 191,000-ounce resource and 86% bottle-roll recoveries. But the ASX-listed explorer ended FY2026 with $394,541 in cash, and its auditor highlighted material uncertainty over its ability to continue as a going concern.

Patronus Resources enters FY2027 with approximately 2.3 million ounces of gold-equivalent Mineral Resources, $65.1 million in cash and liquid investments, and a 30,000-metre Northern Territory drilling campaign underway. The annual report also records an $8.6 million net loss and a proposed uranium rights transaction that remains conditional.

Locate Technologies lifted FY26 revenue and grew its Locate2u software business, but a A$4 million debt facility due in November has left auditors flagging material uncertainty over its ability to continue as a going concern. The company ended the year with negative net assets after its loss more than widened.

Latitude 66 returned to a A$1.71 million FY2026 profit as asset sales funded a larger gold resource base and major KSB milestones. But the auditor flagged material uncertainty over the explorer’s ability to continue without further funding.

Jindalee Lithium has advanced its proposed US Elemental Nasdaq listing and prepared to launch major drilling at McDermitt, but its audited FY26 accounts flag a material uncertainty over ongoing funding. The company ended June with A$13.6 million in cash after raising about A$20.4 million, while reporting a A$7.2 million loss and no operating revenue.

Truscott Mining has confirmed gold mineralisation at a new Westminster structural target and is preparing diamond drilling ahead of a JORC 2012 resource update. The exploration progress comes alongside a larger loss, ongoing funding dependence and an auditor-highlighted material uncertainty over its ability to continue as a going concern.

Cauldron Energy has expanded its defined Yanrey uranium resource to 55.6 million pounds of U3O8 after a successful exploration year, while warning that further funding will be needed to continue operations. The project remains dependent on a change to Western Australia’s uranium mining policy.

Hawk Resources has reported broad near-surface copper mineralisation at its Cactus project, while its FY2026 loss widened and the company flagged a continuing need for fresh funding. The explorer ended June with A$4.52 million in cash after substantial equity raisings and has since secured an 80% Olympus scandium interest for A$1.36 million.

Mamba Exploration cut its FY2026 loss sharply and ended the year with A$1.19 million in cash after acquiring 70% of the Meeka East Gold Project. But the annual report says additional debt or equity funding is required to sustain exploration, creating a clear financial test for the new Western Australian strategy.

Andromeda Metals completed key early works at its Great White kaolin project and achieved 99.9986% HPA purity at pilot scale. But a $98.9 million impairment, $3.2 million cash balance and material going-concern uncertainty leave funding as the decisive hurdle.

Ten Cap Alpha Plus Fund swung to a $53.5 million operating loss in FY2026 as every unit class lagged the S&P/ASX 200 benchmark. Net assets fell to $1.38 billion, while its new TCAP active ETF completed its first partial year on the ASX.

Minerals Exploration has pivoted decisively into New Zealand gold and tungsten, but its annual report carries a material going-concern warning after a $2.66 million loss and $949,097 operating cash outflow. Exploration has produced encouraging surface samples and broad gold zones, though no mineral resource has been established.