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Prophecy International entered FY27 with sharply lower revenue, negative net assets and just $1 million in cash after a difficult restructuring year. Management has cut costs and launched its ProdataIQ AI product, but the auditor has warned of material uncertainty around the company's ability to continue as a going concern.

Prophecy International’s revenue fell 15% and its statutory loss widened to $7.9 million in FY26, leaving the software group with $1 million in cash and negative net assets. A major restructure, new debtor finance facility and AI product launch offer a recovery plan, but the auditor has warned of material uncertainty around the company’s ability to continue as a going concern.

Somerset Minerals reported a $2.17 million statutory profit for 2026, but the result was driven mainly by a gain on divesting its Blackdome-Elizabeth subsidiaries rather than recurring operations. The company’s Coppermine copper campaign delivered strong Jura and Talisker drilling results while its auditor warned that further funding is needed to sustain exploration.

Norwood Systems delivered higher revenue, record customer receipts and a sharp reduction in operating cash outflow in FY2026. But the ASX-listed AI voice company remains loss-making, cash-light and subject to a material going-concern uncertainty.

Boab Metals has moved Sorby Hills from investment decision to construction, but its A$236 million debt facility is not yet available for project drawdowns. The company ended FY26 with A$60.9 million in cash after raising almost A$117 million, while reporting a wider A$7.2 million loss.

MC Mining has warned of a material uncertainty over its ability to continue as a going concern, despite its flagship Makhado project entering hot commissioning. The company ended FY2026 with US$2.904 million in cash, a US$49.746 million net current liability position and continued reliance on shareholder funding.

Quay Global’s unhedged real estate fund swung from a $66.1 million operating profit to a $22.9 million loss in 2026, while its AUD hedged counterpart posted a $23.0 million profit. Both funds also recorded substantial redemptions after launching Active ETF classes.

Quay Global’s two real estate funds delivered sharply different FY2026 results, with the unhedged fund swinging to a $22.852 million operating loss while the AUD Hedged fund recorded a $22.991 million profit. The year also brought large ETF redemptions, new currency-hedging disclosures and a major reset of Bennelong’s board after year-end.

GCQ Flagship Fund recorded a $449.8 million loss before finance costs for the year ended 30 June 2026, as its main ETF class fell 22.8% after fees. Net assets still climbed to $1.607 billion, supported by substantial unit-holder applications, while the newly listed hedged ETF also finished below its launch price.

GCQ Flagship Fund recorded a $449.8 million loss before finance costs after a sharp fall in the value of its global equity portfolio. The fund’s established classes declined between 17.6% and 22.8% net, despite net assets rising to $1.61 billion on strong investor applications.

Hejaz High Income Active ETF delivered a 3.74% net return for the year, well below its reported 13.93% benchmark return. Net assets rose sharply to $9.64 million, but the increase was driven mainly by new applications rather than investment performance.

KGL Resources says its Jervois copper project is funded through construction and ramp-up after a US$300 million Wheaton agreement and a post-year-end A$300 million equity raising. The company is now targeting a final investment decision in the second half of 2026 and first copper concentrate in 2028, while its annual report highlights the execution risks still attached to that timetable.