Latest Operations News

Westar Resources has reported a $3.30 million FY2026 loss after impairing $2.20 million of exploration assets, predominantly at Gidgee North. The explorer ended the year with $1.85 million in cash after raising $1.98 million, while adding several early-stage gold and copper projects.

Enprise Group’s revenue rose 6% in FY2026, but a sharp earnings deterioration, tight liquidity and an auditor-highlighted going concern uncertainty have left its recovery plan dependent on cost cuts and fresh funding. The NZX-listed software group is targeting a return to profitability in FY2027 after refinancing and restructuring its largest business.

MRG Metals has reported exceptional rare earth grades at its newly acquired Garies project and advanced its Mozambique portfolio, but the explorer remains dependent on capital markets. The FY26 annual report flags material uncertainty over going concern despite a subsequent A$725,000 placement and a further share purchase plan.

International Equities Corporation Ltd (ASX:IEQ) returned to a statutory profit in FY2026, but the result was largely supported by discontinued tourism operations while continuing activities remained loss-making. An auditor’s material uncertainty warning and a new secured $1.2 million loan put liquidity at the centre of the investment case.

Vection Technologies delivered its first positive full-year operating cash flow and a sharp rise in adjusted EBITDA in FY26. Yet the audited report warns that continued operations depend on stronger sales, margin gains, cost reductions and potential access to further capital.

Jupiter Energy remained operationally cashflow positive in FY2026, but its cash position weakened sharply as revenue declined and drilling plans remained dependent on new funding. The Kazakhstan oil producer also carried US$13.87 million of interest-free promissory note debt after a post-year-end repayment.

Venari Minerals has moved Red Mountain from grassroots discovery to a 3.03Mt lithium carbonate equivalent inferred resource, backed by 99.5% battery-grade lithium carbonate test work. The next test is commercial rather than geological, with drilling, permitting and a planned Scoping Study now competing against a large loss and ongoing funding needs.

Felix Group Holdings grew FY26 revenue and contracted ARR after acquiring Nexvia, but operating losses and cash outflows widened sharply. The ASX-listed software company is now relying on a post-year-end capital raising while it narrows its strategy to Australia and New Zealand.

Lightning Minerals has more than doubled its annual loss after writing off $4.16 million of lithium exploration assets, while its auditor flagged material uncertainty over the company’s ability to continue as a going concern. The ASX-listed explorer is now concentrating its limited resources on Queensland and New South Wales gold and copper projects.

Golden Mile Resources has reported broad, high-grade surface gold results at its Aurora prospect in Arizona, including 2.38g/t over about 126 metres. The exploration momentum comes alongside a $2.41 million annual loss, $609,757 in cash and an explicit warning that further funding is required.

APA Group will invest approximately $1.015 billion for an 80% stake in a new 400MW gas peaking plant in Queensland, backed by a 25-year inflation-linked hedge with CS Energy. The Brigalow project is targeted for completion in early 2029 and expands APA’s contracted power generation portfolio.

Hawthorn Resources reported a wider Australian-dollar loss for FY2026, with revenue falling sharply and cash declining by $1.53 million. The company is directing its remaining balance sheet toward exploration at the Trouser Legs gold joint venture and Mount Bevan’s other minerals project.