Latest Working Capital News

Bannerman Energy has opened a non-underwritten share purchase plan targeting approximately A$10 million to support construction and working capital at its Etango uranium project in Namibia. The offer gives eligible Australian and New Zealand shareholders access to the same A$4.00 issue price as the company’s A$124 million institutional placement.

Altitude Minerals has lodged a prospectus for a non-renounceable $1.49 million entitlement offer, but warns the issue is ununderwritten and highly unlikely to be fully subscribed. The company is seeking up to $2.6 million in total funding for Nevada drilling, business development and working capital.

FireFly Metals has turned a year of aggressive drilling into a substantially larger, higher-confidence Green Bay resource, backed by an August PEA and fresh funding. The next test is execution: feasibility, permits, construction decisions and the capital required to build a mine.

Macmahon will acquire Aspect Engineering Solutions for a headline enterprise value of A$75 million, adding engineering, minerals processing and project delivery capabilities to its mining services platform. The deal is expected to lift underlying EPS by about 6.2% from inception, although completion and future earnings performance remain important variables.

Condor Energy has consolidated 100% ownership of its offshore Peru acreage and moved its 1 Tcf Piedra Redonda gas discovery closer to commercialisation. The company enters FY2027 with a larger resource base and stronger project control, but auditors have warned that additional funding is needed to sustain operations.

Skylark Minerals has pushed its Côte d’Ivoire gold strategy forward, with M’Basso now extending across about 2km of strike. But the annual report also highlights a material uncertainty over funding, after the company ended the year with A$4.85 million in cash and a A$3.01 million loss.

Ionic Rare Earths is pushing toward commercial magnet recycling in Belfast and the United States, but its FY2026 report flags a material uncertainty over its ability to continue as a going concern. The company reported a larger A$14.9 million loss and A$13.9 million in operating cash outflows, despite government support and new strategic partnerships.

Data#3 delivered another record year, lifting gross sales 12.7% to $3.4 billion and profit before tax 14% to $78.8 million. The result came with a higher dividend and stronger recurring sales, but weaker Services performance, lower margins and softer operating cash flow leave FY27 with a clear execution challenge.

Latrobe Magnesium has received a non-binding US$15 million Letter of Support from a confidential US financial institution for the feasibility study on its proposed 50 ktpa South Carolina magnesium plant. The funding remains conditional on matching finance, due diligence, approvals and definitive agreements.

Altitude Minerals has secured a $1.215 million placement and plans a further $1.487 million rights issue to fund drilling at its Nevada gold-silver projects. The raising offers free options, but shareholders who do not participate in the non-renounceable offer face dilution.

ABx Group has locked in approximately $4.1 million through a placement and fully underwritten share purchase plan, with strategic partner Good Importing International committing $1 million. The funding will support the Deep Leads rare earths project and construction and commissioning of the ALCORE pilot plant, but comes with substantial new equity and options.

Western Gold Resources has sharply expanded the proposed Gold Duke mine, lifting its production target by 62% and forecasting A$72.9 million in operating surplus. The preliminary study is stronger on paper, but still depends on funding and the restart of toll treatment at Wiluna.