Is this a fair dinkum Aussie badge??

I guess we all have a badge we have picked up some where some time and never been able to identify. I have one and it bugs me I haven’t had a definitive answer on it. So I’m giving it a spin again.

Here it is, cloth, silver bullion, 4.5cm in diameter. To my mind it represents a rising sun, and I would guess nautical, and possibly an Aussie cap badge. Was it worn on the cap of the Purser on some Murray River boat? Is it even military, could it be Japanese? All guesses invited, perhaps Rene or Rick have some wisdom on this one. Thanks, A.

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