Latest Funding Risk News

Galileo Mining advanced several PGM, nickel, copper and gold targets at Norseman during FY2026, but a A$4.55 million exploration impairment pushed its annual loss to A$4.67 million. The company ended the year with A$7.48 million in cash and a growing drilling pipeline for Mission Sill and Callisto South.

Ionic Rare Earths is pushing toward commercial magnet recycling in Belfast and the United States, but its FY2026 report flags a material uncertainty over its ability to continue as a going concern. The company reported a larger A$14.9 million loss and A$13.9 million in operating cash outflows, despite government support and new strategic partnerships.

Daly Resources ended FY2026 with $11.05 million in cash after its $12 million IPO, but reported a $3.63 million loss dominated by share-based remuneration. The ASX-listed explorer has no defined mineral resources or ore reserves and must now convert its exploration portfolio into results.

True North Copper expanded its copper growth pipeline in FY26, but the annual report makes clear that exploration momentum still depends on fresh capital. The company ended the year with A$7.1 million in cash and a A$7.5 million Mt Oxide payment due in December.

Terramin Australia has launched a partially underwritten $28.65 million entitlement offer to fund project development and reduce debt owed to major shareholder Asipac. The raise could also materially reshape the company’s ownership, while its prospectus flags a material uncertainty over its ability to continue as a going concern.

Kalamazoo Resources is moving Ashburton from exploration story to development proposition, backed by a positive Mt Olympus Scoping Study and extensive drilling. The next test is whether the updated resource, feasibility work and funding can turn the project’s preliminary economics into a mineable plan.

Blackpearl Group more than doubled annual recurring revenue to NZ$26.8 million in FY26, but the growth came alongside an NZ$17.8 million loss and a formal material uncertainty over its ability to continue as a going concern. The company says cost reductions, faster cash conversion and its refinanced BNZ facility can support the next phase.

New Age Exploration reported its strongest exploration results to date across three projects, including a 11.0 g/t gold intercept at Wagyu and a new mineralised zone at Lammerlaw. But the explorer’s $4.21 million loss, $2.48 million impairment and auditor-flagged going concern uncertainty leave its next drilling campaign dependent on further funding.

Polymetals Resources moved its Endeavor silver-zinc-lead mine from restart to commercial production in FY2026, generating A$100.0 million in revenue. The milestone came alongside a A$47.0 million loss, negative operating cash flow and an auditor warning over going-concern uncertainty.

Ordell Minerals has completed about 25,000 metres of drilling at its Barimaia gold project and begun a further 14,000-metre campaign aimed at delivering a maiden Mineral Resource Estimate for McNabs East in the December 2026 quarter. The exploration push comes as the pre-revenue company reports an increased annual loss but a stronger $8.2 million cash balance after equity raisings.

Mount Ridley Mines has secured an oversubscribed $2 million placement at $0.033 per share to fast-track technical work at its Grass Patch Project and advance the Selectro™ Process. Directors plan to add $100,000 more, pending shareholder approval.

A2MP Investments has issued a third supplementary bidder's statement disputing the valuation and assumptions underpinning Canyon Resources' takeover response, highlighting persistent funding uncertainties and project execution risks. The bidder insists its offer remains the sole liquidity option for shareholders ahead of the September 21 deadline.