Latest Operations News

Conico's statutory loss widened sharply in FY2026, largely because of non-cash share-based payments linked to its recapitalisation. The company ended the year debt free with $2.53 million in cash, but warned that funding remains critical as it prepares for Mt Thirsty drilling.

GCQ Flagship Fund recorded a $449.8 million loss before finance costs after a sharp fall in the value of its global equity portfolio. The fund’s established classes declined between 17.6% and 22.8% net, despite net assets rising to $1.61 billion on strong investor applications.

H3 Energy has consolidated ownership of its Alinya hydrogen and helium project and reframed Warro as a potential commercial gas development, but its annual report warns that funding remains critical. The company ended FY2026 with A$900,434 in cash, net liabilities of A$551,671 and a material uncertainty over its ability to continue as a going concern.

Vitrafy has added US blood network Versiti to its cryopreservation development programme, with the partnership focused on no-wash platelet preservation and regulatory verification. The deal strengthens the company’s institutional network, but initially generates no revenue and remains subject to US regulatory requirements.

Energy Technologies has reported a deeper FY2026 loss, collapsing revenue and a $22.65 million equity deficiency, with its auditor flagging material uncertainty over the group’s ability to continue as a going concern. A five-year laser optics licence offers a potential new revenue path, but it remains conditional on development and future commercial sales.

NewPeak Metals reported a $4.36 million FY2026 profit, but the result was driven mainly by fair-value gains and investment disposals rather than mining revenue. The auditor has flagged a material uncertainty over going concern even after the explorer secured a post-year-end $3.5 million placement.

Iperion reported a lower loss for the year ended 31 March 2026, but its cash reserves and net assets fell sharply, leaving the NZX-listed materials company reliant on related-party funding and director support. Its Pathoglaze manufacturing operation is also being moved from Malaysia to Singapore while customer trials continue.

Hejaz High Income Active ETF delivered a 3.74% net return for the year, well below its reported 13.93% benchmark return. Net assets rose sharply to $9.64 million, but the increase was driven mainly by new applications rather than investment performance.

Gowing Bros’ FY2026 loss widened to $3.49 million as Surf Hardware International remained deeply loss-making and investment properties were marked down by $3.0 million. The ASX-listed investment company kept its fully franked final dividend at 3 cents per share, despite negative operating cash flow and lower cash reserves.

KGL Resources says its Jervois copper project is funded through construction and ramp-up after a US$300 million Wheaton agreement and a post-year-end A$300 million equity raising. The company is now targeting a final investment decision in the second half of 2026 and first copper concentrate in 2028, while its annual report highlights the execution risks still attached to that timetable.

Wildcat Resources has entered FY27 with a $60 million placement, a $37.2 million year-end cash balance and its Tabba Tabba lithium project advancing towards a definitive feasibility study. The funding strengthens the development runway, but final investment approval, financing and approvals remain ahead.

GreenX Metals has put a conceptual copper-silver target at Tannenberg and a major Poland arbitration award at the centre of its next phase. The annual report also shows the cost of that strategy: a $12.34 million loss, a $4.42 million project impairment and continued reliance on equity funding.