Latest Financial Restructuring News

Australian Oil Company Limited reported stable gas production from key wells and completed a $1 million loan forgiveness settlement, while refocusing its portfolio away from less promising leases.

Hastings Technology Metals has formalized a 60 – 40 unincorporated joint venture with Wyloo for the Yangibana Rare Earths and Niobium Project, significantly reducing capital costs and advancing development. The company also moves to diversify with a conditional acquisition of the Whiteheads Gold Project and appoints Vince Catania as CEO.

Australian Pacific Coal Limited has entered receivership over its Dartbrook Joint Venture assets following a senior secured debt default, casting doubt on the value of its 80% stake. Despite holding cash reserves, the company assumes no value in the joint venture amid ongoing financial distress.

Group 6 Metals Limited has reported record quarterly tungsten production and sales, completed a major recapitalisation reducing debt, and is transitioning from open cut to underground mining at its Dolphin Tungsten Mine.

Openn Negotiation Limited reported a $245k net cash outflow from operations in Q1 2025, offset partially by $211k in financing activities, leaving the company with just $6k in cash. The company depends on interest-free loans from its major shareholder to sustain operations amid limited liquidity.

Mount Burgess Mining advances metallurgical test work at its Nxuu deposit, navigates leadership changes, and pursues a significant legacy debt extinguishment as it refines its strategic focus.

Epsilon Healthcare has emerged from voluntary administration with a stronger balance sheet, securing refinancing and preparing to launch its new pharmacy platform. Operational stability and strategic initiatives signal a turning point for the healthcare group.

Chariot Corporation has secured a 66.7% stake in one of Nigeria’s largest hard-rock lithium portfolios, backed by a A$1.6 million capital raise and a new working capital facility, marking a strategic move into the Africa–China lithium corridor.

Mount Burgess Mining NL has secured agreements to extinguish nearly $4.7 million in legacy debt, converting a small portion into equity and options, positioning the company for renewed growth.

Australian Pacific Coal faces creditor pressure as Vitol Asia reserves rights on a parent guarantee, while the company insists it remains solvent amid uncertainty.

Openn Negotiation Ltd moves forward with a creditor-approved recapitalisation plan following voluntary administration, while its shares remain suspended on the ASX.

Openn Negotiation Ltd reported a significantly reduced net loss of $3.93 million for FY24, exiting voluntary administration with new directors and a recapitalisation led by ST Holding 2 Pty Ltd. The company faces challenges in regaining ASX compliance and identifying new business operations.