ChemX Materials Limited (ASX: CMX) has announced its annual financial statements for the year ended 30 June 2026, reporting a net profit after tax of $1,837,812. This marks a significant turnaround from the $7,047,676 loss recorded in the previous financial year. The profit result was primarily driven by a gain of $2,585,547 from discontinued operations, following the company’s exit from external administration, partially offset by a loss of $747,735 from continuing operations.
After effectuating a Deed of Company Arrangement (DOCA) on 18 July 2025, ChemX Materials, an ASX-listed company currently focused on identifying and assessing property acquisition and development opportunities, formally concluded its external administration. Control was returned to a newly constituted board, and its previous activities in high-purity alumina technology and mining exploration were classified as discontinued. To facilitate its new strategic direction, shareholders approved a $178,000 capital raising, and the company executed a loan agreement with Ovay Pty Ltd for up to $1,200,000. This facility, bearing 15% annual interest, is earmarked for restructuring, re-compliance listing, property acquisitions, and will automatically convert into shares upon re-listing.
Despite the positive financial outcome and strategic shift, ChemX Materials’ securities remain suspended from trading on the ASX since 19 December 2024. Re-quotation is contingent upon the company’s compliance with Chapters 1 and 2 of the Listing Rules, which will require ASX, shareholder, and regulatory body approval for its new business plan. The directors aim for this to occur within the second half of 2026, acknowledging the complexity and inherent risks involved in the re-listing process and securing necessary funding. The company also noted the expiry of 1,000,000 unlisted options on 10 August 2026.
