Latest Operations News

BauMart Holdings returned to profit in FY2026 as revenue surged, but the result came alongside negative operating cash flow, net liabilities and an auditor-flagged material uncertainty over its ability to continue as a going concern. A post-year-end $244,463 placement provides near-term funding, while receivables collection remains critical.

Thrive Tribe Technologies has repositioned WooBoard and REFFIND towards defence and workforce software, but its FY26 annual report flags a material uncertainty over the company’s ability to continue as a going concern. The pivot follows a $3.66 million loss, $2.57 million operating cash outflow and another $1 million placement after year-end.

ION Video has reported a $4.52 million FY2026 loss and a $3.21 million operating cash drain, even as a post-year-end $4.25 million placement lifted its balance sheet. Auditors have preserved their opinion but flagged material uncertainty over the company’s ability to continue as a going concern.

CONNEQT Health delivered sharp FY26 revenue growth and reduced its statutory loss as Pulse sales and clinical subscriptions expanded. But the ASX-listed medtech group ended the year with negative net assets, heavy cash burn and a material uncertainty over its ability to continue as a going concern.

MCS Services has completed the sale of its Traffic Business and now has no operating business, while its ASX securities remain suspended pending a possible recompliance transaction. The company reported $1.77 million in cash at 30 June 2026, but also faces a $495,000 legal settlement and no recurring operating revenue.

Manuka Resources has moved its Wonawinta and Mt Boppy restart from planning towards production, but its FY26 annual report carries a qualified audit opinion and warns of material uncertainty over its ability to continue as a going concern. The company recorded no sales revenue, a $28.1 million loss and $26.1 million of operating cash outflows.

Aurora Energy Metals (ASX:1AE) swung to a $21.8 million profit after selling its Oregon uranium project, but the result was driven largely by a non-cash accounting gain. The company’s concentrated Eagle Nuclear Energy stake was valued at about $15.5 million by the annual report date, down from $23.9 million at 30 June.

Cokal returned to coal sales at its BBM project during FY2026, but regulatory suspensions and weak cash generation pushed the company to a US$11.3 million loss and US$29.6 million of net liabilities. An auditor-highlighted material uncertainty over going concern remains, despite a post-year-end extension of major debt repayments.

Indiana Resources has finished FY2026 with A$30.1 million in cash and term deposits, promising exploration results in South Australia and an unresolved dispute over 18% of its Tanzania settlement proceeds. The company is also preparing for Managing Director and CEO Matthew Bowles to leave in November.

RareX has moved Cummins Range through key permitting and heritage milestones, while stronger metallurgical results broaden the project’s critical-minerals potential. But the explorer’s annual loss widened to A$5.07 million, cash burn remained high and its going-concern assessment still depends on future funding and project development.

Kelsian Group has completed the $149.9 million sale of its Tourism Portfolio to Journey Beyond, reducing pro forma leverage to approximately 2.0x. The transport operator has reset FY27 Underlying EBITDA guidance to $295 million-$310 million as it shifts towards commuter and contracted services.

Viking Mines has repositioned itself around Nevada tungsten, with Linka producing a 56.9% WO₃ concentrate at 76.0% recovery and gaining approval for a 63-hole maiden drilling programme. The opportunity is advancing, but the company remains loss-making, has no JORC resource at Linka and will need further funding as work accelerates.