They began their campaign with a tough 58-87 loss to Serbia. After trailing by just four points at quarter-time, Serbia pulled away in a dominant second and third period, leading by 23 at the final change.
Isaac White paced the Australians with 11 points on 3-6 shooting while Matthew Kenyon starred with 10 points, seven rebounds, three assists and a block.
11 members of the side hit the scoreboard but their defence was unable to slow down Serbia, allowing them to shoot 49% from the field while they were also out-scored 7-31 in points off turnovers.
The following day saw the Aussies bounce back against Japan, never trailing as they secured an 84-45 victory.
Four players reached double-figures, led by Sam Short (13 points, four assists) while White (10 points, five rebounds, five assists), Kenyon (11 points, seven rebounds) and Jacob Rigoni (10 points, seven boards) excelled in the paint.
They out-rebounded Japan 59-25 to score 21 second chance points while they were also too quick in the open court, scoring 8-0 in fast break points.
Early this morning, Australia were unable to carry that momentum into their match against Argentina, falling by just two points in a 67-69 heartbreaker as Kenyon once again starred with 14 points.
A 10-2 opening was a promising start for the Aussies as Tom Fullarton and Andrew Ferguson connected from deep. However, Argentina quickly drew the margin back and from there the lead changed hands several times leading up to the final minutes.
Ahead by just a point, Argentina then made several crucial blocks at the defensive end but there was one final chance for the Australians as Kyle Zunic just missed a lay-up before the buzzer sounded.
With two games remaining (against Turkey early Thursday morning and Germany early Friday morning), Australia still have a chance at a top-two finish although Germany are one of only two unbeaten teams in Group A which will make their task more difficult.
Those match-ups will be live-streamed via Sport Deutschland. The game against Turkey can be viewed here and the clash against Germany can be viewed here while replays of a couple of their encounters from the tournament can be seen here.