Cameron Smith admits he's battling inner demons after enduring another hometown horror show, the three-time Australian PGA champion fading badly to card a four-over 75 and miss a seventh straight cut.

The local hope began his Friday round on the projected cut line at two under and birdied the second, before twice leaving birdie putts on the lip of the cup. 

After dropping a shot on the fourth and dipping below the line with a bogey on the 11th hole, a scrambling Smith watched par putts slide by on the 13th and 14th in miserable scenes at Royal Queensland Golf Club.

He made an eight-footer for birdie at the 17th party hole to offer a glimmer of hope, but missed the 18th green and three-putted for a double-bogey to seal his fate.

"It was shit," Smith said post-round.

"I don't know, I just don't know. I was so confused.

"I was feeling good, really confident and just couldn't get anything going.

"It was weird. It can definitely get in your head, I think it is in my head."

He finished two over and a distant cry from a clogged leaderboard headed by New Zealand's Kazuma Kobori, who birdied the final four holes to card an eight-under 63 and lead at 10 under.

Early clubhouse leader Brett Rankin, China's Wenyi Ding and Anthony Quayle, with Steve Williams on his bag, were a shot further back.

A champion in Brisbane two years ago, Min Woo Lee made six birdies to join them at nine under before a bogey on the last.

Cameron Davis, Daniel Hillier, Marc Leishman and Marco Penge (seven under) are all within striking distance on a crowded leaderboard, while Ryan Fox dropped three late shots to sit at five under.

Adam Scott (six under) is lurking thanks to a long birdie putt on the 17th, defending champion Elvis Smylie (two under) rallied to make the cut, but European drawcards Joaquin Niemann (even par) and Rasmus Neergaard-Petersen (five over) both struggled.

Smith endured one of his worst days as a pro to miss the cut at Royal Queensland in 2023, in tears after shooting a seven-over-par 78 on the Friday. 

But he returned last year to finish runner-up, then lost a play-off at the Saudi International soon after.

That form deserted him, the former world No.2 and 2022 Open Championship winner the only player to miss the cut at all four majors this year.

Smith then fell short at his next two tournaments and will arrive in Melbourne for next week's Australian Open on a winless streak approaching two and a half years.

"I don't think about golf often, but in the last couple of months I've thought about it a lot and I want to get back to where I was," he said.

"I do know what the answer is; it's just to keep working hard and try to be patient."

Playing partner Lee, who broke through for his maiden US PGA Tour win this year, was immune to the carnage as he regularly picked up shots, and Davis showed no signs of rust in his first tournament since an early PGA Tour exit in August.  

"That's golf. It can be tough and he's one of the best players out here and there is pressure," he said of Smith.

"Next week he's going to be good. It's a bit of fire in his belly, this weekend.

"Head down, grind and show something next week."

Leishman roused earlier in the day, chipping in for eagle from the seventh bunker, then taking driver from the fairway to set up birdie in a thrilling three-hole sequence to finish his round.

The 42-year-old former Greg Normal Medal winner has never won a major Australian title, but pledged to stay bold in his quest for one.

"We're golfers and entertainers and I really enjoy entertaining, whether it's a driver off the deck or a cool, spinning bunker shot," Leishman said.

"Playing the way you'd play at home - not careless shots, just fun shots and taking on pins in different ways."