Latest Divestment News

Westgold Resources delivered a record 387,354oz gold production in FY26, exceeding guidance, while closing the year with a robust $939 million in cash and liquid assets, remaining debt free and unhedged.

Union Star Metals has agreed to sell its Brazilian rare earth subsidiary to Harvest Minerals, receiving cash, shares, and milestone payments while sharpening its focus on gold and silver exploration in the US.

KMD Brands expects a 5% rise in FY26 sales and a more than doubling of EBITDA, while planning to divest its Southeast Asian manufacturing facility over the next year.

Triangle Energy (ASX:TEG) and its key subsidiaries have appointed a voluntary administrator amid financial pressures linked to offshore decommissioning obligations. The move follows similar steps by related operators and signals ongoing regulatory and creditor negotiations ahead.

Flagship Minerals has received full payment of US$4 million for its RK Lithium Project sale, advancing its strategic pivot towards gold and copper assets in Chile and Canada.

XPON Technologies delivered a positive unaudited Group EBITDA of $1.1 million for FY26, supported by strategic divestments and a focus on its AI marketing platform Wondaris. The company improved gross margins and maintained strong customer retention despite divesting non-core businesses.

Noumi Limited has struck a binding deal with major shareholder Arrovest to acquire all remaining shares via a scheme of arrangement, offering shareholders a 12.2% premium amid looming $610 million convertible note maturity.

QuickFee Limited’s FY26 results show stable normalised revenue with Australian loan originations surging 40%, offsetting US finance declines. The company ups its Australian debt facility and confirms EBITDA guidance, eyeing growth in both markets.

True North Copper (ASX:TNC) has agreed to sell its Bundarra Copper Project to Tec Minerals, securing A$500,000 cash, A$1 million equity in Tec Minerals, and a 1% Net Smelter Royalty, as it sharpens focus on its Mt Oxide and Cloncurry copper developments.

Galilee Energy’s Zydeco-1 well in Louisiana has intersected the Homeseeker B sand as predicted, revealing strong gas indications that were not factored into prior financial models. Drilling now advances toward the primary Tweedel Sand target, with electric logging due late July to assess commercial viability.

London City Equities has boosted its net assets to a record $29 million for FY2026, driven by the sale of its Fiducian Group stake and the completion of Excelsior Capital’s liquidation.

Fleetwood Limited is set to acquire Red Dog Village, Karratha’s largest transient worker accommodation facility, for $20 million, significantly boosting its regional scale and earnings potential.