Latest Defence News

Viking Mines has completed digitisation of historical drilling data at its Linka tungsten project in Nevada, revealing promising high-grade, shallow mineralisation at the Conquest area. The company is fast-tracking a maiden drilling program aimed at early production to meet growing US defence supply needs amid rising tungsten prices.

HiTech Group Australia Limited reported a steady half-year profit of $2.04 million for H1 FY26, maintaining a strong cash position and zero debt while navigating government spending cuts. The company declared a fully franked interim dividend of 4.5 cents per share.

Lodestar Minerals has reported high-grade heavy rare earth element assays up to 3.73% TREO from its Virgin Mountain project in Arizona, significantly surpassing previous results and highlighting its strategic potential in the US critical minerals landscape.

Locksley Resources has initiated diamond drilling at its Desert Antimony Mine in California, aiming to expand known high-grade mineralisation and support US critical minerals supply chains.

VEEM Limited reports half-year revenue close to guidance with improved cash flow, offset by a significant $24.8 million non-cash impairment tied to its gyro product upgrade. The transition to the new Mark III gyro design has temporarily stalled sales as customers await delivery.

Electro Optic Systems reported a 27% revenue drop to $128.5 million in FY2025 but posted a net profit of $18.6 million, boosted by the sale of EM Solutions. The company strengthened its position with key contract wins and acquisitions, including the UK-based Interceptor business and a conditional deal for MARSS.

Austal Limited reported a 21% rise in net profit to $30.5 million for H1 FY2026 on $1.11 billion revenue, yet declared no dividends amid a qualified audit.

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.

Advanced Innergy Holdings Ltd (ASX:AIH) has reported a robust FY25 performance highlighted by a successful IPO and strong growth across its core segments, setting a confident tone for FY26.

Viking Mines has completed due diligence on its Nevada tungsten portfolio, confirming high-grade mineralisation and fast-tracking acquisition and exploration to meet urgent US supply needs.

EV Resources has partnered with U.S.-based MineMaker LLC to accelerate its antimony projects in Mexico and Nevada, aiming to become a key supplier to North America’s critical minerals market.

Li-S Energy narrows its loss to $1.21 million in H1 2026, propelled by a $7.8 million ARENA grant and key manufacturing milestones including Australia’s first lithium metal foil production line. Strategic defence and aerospace partnerships bolster its commercialisation drive.