Latest Funding Risk News

Nex Metals returned to profit in FY2026 after selling its remaining Arika joint venture interest, but the gain did not resolve its underlying funding pressure. The company ended the year with $422,452 in cash, net liabilities of $471,232 and a material uncertainty over its ability to continue as a going concern.

Albright Metals has reported a sharply wider FY2026 loss and an auditor-highlighted material uncertainty over its ability to continue as a going concern. The company’s Canadian Golden Pike project has advanced to a 54,200-ounce JORC resource, but further development depends on funding.

PolarX Limited (ASX:PXX) has reported a year of high-grade exploration results across Alaska and Nevada, led by a 24.8-metre copper intercept grading 9.8% at Caribou Dome. The company ended FY2026 with A$10.0 million in cash, but remains loss-making and dependent on future funding and exploration success.

Jindalee Lithium has advanced its proposed US Elemental Nasdaq listing and prepared to launch major drilling at McDermitt, but its audited FY26 accounts flag a material uncertainty over ongoing funding. The company ended June with A$13.6 million in cash after raising about A$20.4 million, while reporting a A$7.2 million loss and no operating revenue.

Truscott Mining has confirmed gold mineralisation at a new Westminster structural target and is preparing diamond drilling ahead of a JORC 2012 resource update. The exploration progress comes alongside a larger loss, ongoing funding dependence and an auditor-highlighted material uncertainty over its ability to continue as a going concern.

Cauldron Energy has expanded its defined Yanrey uranium resource to 55.6 million pounds of U3O8 after a successful exploration year, while warning that further funding will be needed to continue operations. The project remains dependent on a change to Western Australia’s uranium mining policy.

North Stawell Minerals has expanded and refined its Darlington-Caledonia exploration targets, including a post-year-end intercept of 0.4 metres at 17.1 g/t gold. But the gold explorer ended FY2026 with $701,960 in cash, a deeper loss and an auditor warning that further funding is needed to sustain operations.

NuEnergy Gas is moving its Tanjung Enim coal bed methane project towards targeted first gas sales in early 2027, backed by a US$88 million field service contract. But the ASX-listed developer ended FY2026 with only A$552,509 in cash, substantial liabilities and a material uncertainty around its ability to continue as a going concern.

Sultan Resources has reported a $1.48 million FY2026 loss and an auditor-highlighted material uncertainty over its ability to continue as a going concern. The explorer is seeking to fund early-stage Lachlan Fold Belt work while pursuing a new Namibia opportunity and a post-year-end $1.316 million placement.

Iltani Resources has paired a substantial Orient silver-indium resource with $8 million in QIC backing, giving the explorer a stronger platform for its next phase of drilling and technical studies. The company remains loss-making and pre-revenue, but ended FY26 with $7.5 million in cash.

Resource Base Limited (ASX:RBX) reduced its FY2026 loss, but ended the year with only $140,776 in cash and an auditor warning of material uncertainty over its ability to continue as a going concern. The company is relying on fresh capital to advance early-stage titanium targets in South Australia.

Desane Group Holdings reported a sharp FY26 profit decline as lower property revaluation gains and higher finance costs overwhelmed largely stable rental income. The ASX-listed property group enters FY27 with more cash, conservative gearing and two developments that now need to convert asset value into earnings.