Not convinced, mainly because of the pointed rather than blunt teeth. I'll have to look at some of my collections of yellow/orange, sharply hydnoid corticioid fungi to see what candidates there are.
The pointed teeth had me concerned as well, I have no idea how variable these features are within the species. The Mycoacia species with more pointed teeth is Mycoacia uda (which this image seems to fit better) but that hasn't as far as I can see been recorded from Australia.
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