Latest Audit News

Maverick Minerals finished FY2026 with $5.3 million in cash after raising $6 million, but warned that further funding will be needed to sustain its expanded exploration program. The auditor highlighted a material uncertainty over the company’s ability to continue as a going concern.

Askari Metals cut its annual loss by half, but the improvement came alongside continued cash burn, heavy equity issuance and an auditor-highlighted material uncertainty over its ability to continue as a going concern. The company is now relying on further funding while it prepares exploration programs in Ethiopia and Namibia.

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.

Raptor Metals completed its transformation into a Canadian copper and polymetallic explorer in FY2026, backed by drilling success at Chester and new Bathurst Mining Camp acquisitions. But the company’s $3.28 million loss, $3.97 million operating cash outflow and auditor-flagged funding uncertainty leave the next capital raise as a central investor question.

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.

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.

Titanium Sands has warned of material uncertainty over its ability to continue as a going concern, with just $112,578 in cash and $1.8 million of convertible notes due for repayment or conversion. The warning comes as the company prepares to submit the Environmental Impact Assessment for its Mannar Island mineral sands project in October.

Energy World Corporation has reported a US$448.2 million FY2026 loss after impairing its Pagbilao power plant and Australian assets, while the group’s survival remains tied to completing a staged US$350 million turbine sale. The audited report also recasts the Pagbilao LNG Hub as the centrepiece of the company’s next phase, but flags material uncertainty around going concern.

1414 Degrees reported a wider FY2026 loss, falling cash reserves and a material uncertainty over its ability to continue as a going concern. The company is nevertheless pressing ahead with SiNTL battery commercialisation, a proposed 1 GW data centre precinct and full ownership of Aurora.