Latest Defence Sector News

Verbrec Limited has promoted Mark Read from CEO to Managing Director, extending his notice period to ensure leadership continuity as the company builds on its recent turnaround.

Lynas Rare Earths has inked a binding Letter of Intent with the US Department of War to supply critical rare earth oxides over four years, backed by a US$96 million government allocation and a US$110/kg floor price for NdPr oxide.

Tungsten Mining NL is set to begin a substantial drilling campaign at its Mt Mulgine Trench deposit in May 2026, aiming to test and potentially expand its tungsten resource amid soaring global prices.

Locksley Resources has reported strong surface assay results from its Desert Antimony Mine in California, confirming continuity of high-grade antimony mineralisation and supporting ongoing drilling efforts.

Senetas Corporation reported a reduced half-year loss with stable revenue, despite export permit delays in the Middle East. The company’s strategic alliance with Nokia and ongoing sovereign encryption developments underpin a positive outlook for FY2026.

HighCom Limited has revealed a sharp downturn in its half-year results, with revenue plunging 59% and a $6.8 million loss after tax, driven by US government shutdown impacts. The company is banking on new lightweight XTclave® armour products to fuel a recovery in the second half of FY26.

Harvest Technology Group’s half-year report reveals a 50% revenue decline and a widening net loss, offset by a $6 million funding facility and strategic partnerships.

Bhagwan Marine reports a sharp 67% drop in net profit for the half-year to December 2025, while announcing a transformative $130 million acquisition of Riverside Marine Holdings.

Duratec Limited reported a modest revenue decline in 1H FY26 but posted gains in profitability and maintained its dividend, underpinned by strategic acquisitions and sector diversification.

VEEM Ltd posted a significant half-year loss of $19.5 million, driven by a 30% revenue decline and a $24.8 million impairment on gyro product development. Despite setbacks, new product launches and US defence market progress offer a hopeful outlook.

Aurora Labs reported a 15% revenue decline and a 12% increase in net loss for H1 2026, yet marked a strategic breakthrough with its first defence propulsion order and a successful $5.5 million capital raise.

Ventia Services Group has won a one-year, $107 million extension to its Defence Maintenance Contract, reinforcing its role as a key partner to the Australian Defence Force with options for further extensions.