Latest Going Concern News

White Cliff Minerals has expanded its Rae Copper-Silver Project into a multi-kilometre copper system, with a peak interval of 21.1% copper and recoveries reaching 95.4%. The exploration progress came alongside an A$18.8 million FY26 loss, A$14.5 million operating cash outflow and an auditor-highlighted material uncertainty over going concern.

Castle Minerals has reported a $3.23 million net loss for FY2026, with its auditor highlighting material uncertainty over the explorer’s ability to continue without further capital or spending cuts. The company is redirecting its portfolio towards gold assets in Côte d’Ivoire and Western Australia, backed by a partly completed $4 million post-year-end placement.

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.

Core Energy Minerals has expanded into an advanced Namibian uranium joint venture, but its annual report flags a material uncertainty over continued operations. The explorer reported a $3.369 million loss, $469,346 in cash and a $1.49 million working-capital deficit for 2026.

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.

Noble Helium has rebuilt its balance sheet ahead of drilling at Tanzania’s North Rukwa project, but its auditor has warned that future capital raisings remain critical to the company’s survival. The Kinambo campaign is now moving from preparation to execution, with two wells planned and a prospective helium resource still to be proven.

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.

Australia United Mining has reported a $596,624 loss, $20,802 in cash and a material uncertainty over its ability to continue as a going concern. The company’s Forsayth project generated a modest production return, but operations remain dependent on further funding and related-party creditor support.

Norwest Minerals has strengthened the technical case for its Bulgera heap-leach project with a revised 191,000-ounce resource and 86% bottle-roll recoveries. But the ASX-listed explorer ended FY2026 with $394,541 in cash, and its auditor highlighted material uncertainty over its ability to continue as a going concern.

Locate Technologies lifted FY26 revenue and grew its Locate2u software business, but a A$4 million debt facility due in November has left auditors flagging material uncertainty over its ability to continue as a going concern. The company ended the year with negative net assets after its loss more than widened.

GWR Group has swung to a $26.84 million FY2026 loss after impairing Gold Valley receivables and booking a $10.19 million rehabilitation provision linked to Wiluna West. The company still holds $37.13 million in cash, but its accounts warn of material uncertainty after a $19.85 million capital distribution to shareholders.

Latitude 66 returned to a A$1.71 million FY2026 profit as asset sales funded a larger gold resource base and major KSB milestones. But the auditor flagged material uncertainty over the explorer’s ability to continue without further funding.