Latest Queensland News

Key Petroleum reduced its FY2026 loss, but the oil and gas explorer continues to rely on equity funding while awaiting Queensland Government decisions on ATP 920 and ATP 924. An auditor’s unmodified opinion still highlights material uncertainty over the company’s ability to continue as a going concern.

Basin Energy has more than doubled the mineralised footprint of its Newmans rare earth discovery to 6.7km, with follow-up drilling also producing the strongest magnet rare earth interval reported so far. The early-stage results set up a busy fourth quarter of leach testing and further drilling, although no resource or recovery result has yet been established.

Acrow Limited (ASX: ACF) is targeting a sharp FY27 earnings lift after industrial access revenue exceeded $200 million and post-year-end acquisitions expanded its platform. The FY26 result was more mixed: revenue reached a record $336 million, but underlying net profit fell 20% and the dividend was reduced.

Alice Queen has outlined a potentially lucrative Horn Island development case, but the numbers remain preliminary and depend on further drilling, approvals and funding. The gold explorer ended FY2026 with a A$3.55 million loss and A$3.6 million in cash.

QEM Limited (ASX:QEM) has suspended non-essential work at its Julia Creek vanadium project after metallurgical results undermined the 2024 Scoping Study. The loss-making explorer is now relying on newly acquired Idaho projects, fresh capital and further exploration to justify its next chapter.

Embelton Limited (ASX:EMB) grew revenue, profit and operating cash flow in FY2026 despite subdued residential construction, while maintaining its 35-cent fully franked annual dividend. The flooring and engineering group is leaning further into infrastructure, data centres, healthcare and other commercial work, although its near-term contracting pipeline remains modest.

Basin Energy’s maiden drilling at Newmans has outlined a 3.3 km shallow magnet rare earth corridor within its expanding Sybella-Barkly project. But the ASX-listed explorer remains pre-revenue, reported a larger annual loss and faces a material uncertainty over its ability to continue funding operations.

Lincoln Minerals has moved Minbrie’s Eagle Ridge prospect towards diamond drilling after air core work supported its geological model. But the ASX-listed explorer remains loss-making, cash-burning and dependent on further funding to continue its exploration program.

Renegade Exploration has sharpened its portfolio around Nevada and Yukon exploration, with several targets moving towards drilling after high-grade surface results. But the ASX-listed junior ended FY2026 with just $59,869 in cash and an auditor-highlighted material uncertainty over its ability to continue as a going concern.

Breakthrough Minerals has shifted its centre of gravity to a 952-square-kilometre Queensland copper-gold portfolio, backed by an 18.8Mt JORC resource and early drilling success. The annual report also highlights the constraint: a A$5.69 million loss, ongoing cash burn and material uncertainty over future funding.

Far Northern Resources expanded its Northern Territory gold inventory to 117,000 ounces during FY26, while Bridge Creek moved closer to mining studies. The progress came alongside a wider annual loss, falling cash reserves and an auditor-emphasised going-concern consideration.

Aruma Resources’ 2026 annual report puts the Tillex Copper-Silver Project at the centre of its strategy after wide, high-grade drilling results in Ontario. But the explorer also reported a $2.71 million loss, $788,658 in cash and a material going-concern uncertainty dependent on further capital.