Latest Going Concern News

Reach Resources Limited has announced a pro-rata entitlement issue aiming to raise up to $3.15 million to fund exploration and working capital, with key directors and the CEO committing to participate.

Peppermint Innovation Limited reported a $1.27 million net loss for the half-year ending December 2025 while achieving key milestones including activation of national payment rails in the Philippines and settling a statutory demand that led to an ASX trading suspension.

Novo Resources Corp. reported a net loss of CAD 22.4 million for 2025, slightly improving from the previous year, while securing a $5.9 million capital raise to support ongoing exploration and operations.

EBR Systems marked a pivotal transition in 2025 with FDA approval of its WiSE CRT System and the initiation of U.S. commercial implants, generating $1.6 million in revenue. Despite this progress, the company reported a net loss of $48.8 million and completed a significant capital raise to support ongoing growth.

WA Kaolin Limited reported a $5.06 million half-year loss despite a 257% revenue surge, grappling with operational setbacks and regulatory challenges. The company’s recent debt restructuring and trading suspension signal a critical juncture as it seeks to stabilise and recapitalise.

MC Mining reports a modest improvement in half-year losses despite declining coal production and revenue, while advancing its Makhado Project and suspending Uitkomst operations to curb cash losses.

TasFoods Limited has appointed KPMG as voluntary administrators following the unsuccessful sale of its Nichols Poultry business, signalling a critical restructuring phase. A creditors' meeting is scheduled for 23 March 2026 as the company seeks new capital or buyers.

Elanor Investors Group reported a $57 million statutory loss for FY25 but is progressing a $125 million recapitalisation with Rockworth Capital Partners to stabilise its balance sheet amid ongoing financial challenges.

Group 6 Metals Limited has reported a striking turnaround with a $25.6 million revenue haul and a return to profit, driven by soaring tungsten prices and operational gains at its Dolphin Tungsten Project. The company is now gearing up for underground mining to sustain growth.

MCS Services Limited reported a 32% revenue decline for the half-year ending December 2025, alongside improved EBITDA and no significant impairments. The company is moving forward with a proposed sale of its Highways Traffic business, though an auditor’s going concern warning casts a shadow over its near-term outlook.

MCS Services Limited has reported a significantly reduced half-year loss and announced plans to sell its Highways Traffic subsidiary, aiming to strengthen its financial position amid ongoing challenges.

The Star Entertainment Group reported a 10% drop in H1 FY26 revenue, offset by a 71% improvement in EBITDA, while navigating ongoing licence suspensions and a critical refinancing process.