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The Markets
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Small cap wrap: Voyageur Pharmaceuticals, Valdor Technologies, Petro-Victory Energy, Fineqia...

Firebird Metals Ltd (ASX:FRB, OTC:FRBMF) has appointed globally recognised battery materials authority Ken Hoffman as special advisor to the board. With more than 30 years of experience, including his role as global head of battery materials at McKinsey & Company, Hoffman will play a key role in shaping Firebird’s strategy to penetrate Western markets.

Hoffman’s appointment comes as demand for high-purity manganese chemicals continues to grow around the world, propelled by increasing adoption of lithium manganese iron phosphate (LMFP) and lithium manganese-rich (LMR) cathode technologies — particularly by automotive giants GM and Ford.

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Fineqia International Inc (CSE:FNQ, OTC:FNQQF) on Monday reported a 152% rise in total revenue for the first quarter of 2025, powered by strong institutional demand for its Cardano-linked exchange-traded note (ETN).

The digital asset and investment firm said revenue rose to nearly C$358,00 for the three months ended March 31, from C$142,000 in the previous quarter — its strongest performance to date.

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Afentra plc (AIM:AET, OTC:STGAF) shares are tipped to nearly double as the company lands an asset that comprises some of Angola’s largest oil and gas discoveries.

The company’s newly acquired asset, Block KON4, complements Afentra’s portfolio in the country.

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Petro-Victory Energy Corp. (TSX-V:VRY) announced that drilling operations had started at the AND-5 well in the Andorinha Field, located in the Potiguar Basin in Brazil.

The oil and gas exploration and production company focused on onshore Brazil said the AND-5 well is the first in a series of two fully-funded drilling programs planned for the Andorinha Field.

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Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL) is a ‘buy’, offering a potential 45% upside, that’s according to stockbroker Panmure Liberum, which called today’s high-grade gold results “encouraging”.

Panmure Liberum’s ‘buy’ rating comes with a price target pitched at 2,054p.

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Valdor Technology International Inc (CSE:VTI) said on Monday it has signed an exclusive reseller agreement with an Ontario-based developer of the blockchain-backed PPRTRL software platform, to distribute the technology in North America and Europe.

Under the agreement, Valdor will receive a five-year exclusive resale license for the PPRTRL platform, a solution designed to enable secure digital transactions through real-time session monitoring and blockchain-based recordkeeping.

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Candel Therapeutics Inc (NASDAQ:CADL) announced that it has appointed Charles Schoch as its chief financial officer.

Schoch had served as interim CFO since January 2024 and is being elevated to the permanent position, the company said on Monday.

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Voyageur Pharmaceuticals Ltd (TSX-V:VM, OTC:VYYRF) announced that it has entered into a non-binding memorandum of understanding with Altillion to initiate the creation of North America’s first fully integrated iodine-based pharmaceutical supply chain.

The agreement launches Phase 1 of Voyageur’s plan to manufacture iodine-based drugs domestically, leveraging Altillion’s mineral extraction technology and Voyageur’s experience in contrast media development.

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Medicus Pharma (NASDAQ:MDCX) said on Monday it has appointed Andrew Smith as chief operating officer, bringing on board a seasoned asset management executive as the company accelerates its clinical development programs in the US, Europe, and the Middle East.

Smith, who most recently served as CEO of SR Asset Management until its sale in 2024, brings over 30 years of experience in financial and operational leadership. Prior to SRAM, he held several senior roles at Aberdeen Asset Management, including co-head of Americas, COO, CFO, and CCO for its North American Closed-End Funds.

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HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) has signed a deal to acquire a data center facility in Toronto with approximately 7.2 megawatts of installed capacity.

The company said the purchase, made through its wholly owned subsidiary BUZZ High Performance Computing Inc., will support large-scale AI training, inference, and cloud services aimed at Canadian enterprises, government programs, and researchers.

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Nextech3D.ai (CSE:NTAR, OTCQX:NEXCF) announced that it has rolled out a major update to its Map Dynamics platform, including a full migration to Amazon Web Services (AWS), the launch of new AI-powered features, and a strategic push into new event verticals such as music festivals and public expos.

"We've spent the last year upgrading Map Dynamics into a true growth engine with scalable infrastructure, robust margins, and a powerful roadmap," Nextech3D.ai CEO Evan Gappelberg said.

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Shares in Thruvision Group PLC (AIM:THRU, OTC:DIGTF) fell 9% on Monday after the company warned it could run out of cash if expected sales fail to materialise. The stock is now down 88% so far this year.

The AIM-listed maker of walk-through security scanners said it has extended its cash runway to the end of September, based on several deals currently in final negotiations.

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Afentra plc (AIM:AET, OTC:STGAF) told investors it has entered a contract for Block KON4 in the onshore Kwanza basin of Angola.

The contract (a ‘Risk Service Contract’) gives the AIM-quoted firm a 35% operating interest in the project, which spans 1,387 square kilometres and covers eleven past producing oil and two gas fields that historically yielded 90 million barrels of oil production.

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Mendell Helium (AQSE:MDH) raised £515,000 of new capital, announced its deploying a ‘Bitcoin treasury management policy’, and extended an option to acquire M3 Helium.

The equity raise sees 25.75 million new shares being issued at 2p each, compared to Friday’s closing price of 3.75p.

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Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) has unearthed high grades in new drilling results from its Blanket Mine in Zimbabwe.

Grades and intersection widths from the Blanket and Eroica orebodies were better than expected.

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HeLIX Exploration PLC (AIM:HEX, OTCQB:HHEXF) told investors it has begun drilling the Inez-1 well at the Rudyard Project in northern Montana.

It is the fourth production well in the field, and will test the Souris River and Red River formations. It will also target the southern dome, which has 2C gross contingent resources of 280.00 million cubic feet of helium.

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Chill Brands Group PLC (LSE:CHLL, OTCQB:CHBRF) is preparing to request the lifting of a long-standing suspension in its share trading, following the publication of overdue annual results for the period to March 2024.

The company confirmed on Monday that it plans to submit interim accounts for the period ended September '24 in early July, which would bring it fully up to date with its reporting obligations.

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Tryptamine Therapeutics Ltd (ASX:TYP, OTC:TYPTF) has secured human ethics approval to start a global-first clinical trial of its intravenous psilocin-based formulation TRP-8803 in adults with Binge Eating Disorder (BED). The open-label study, conducted in collaboration with Swinburne University, will evaluate the safety and efficacy of TRP-8803 when paired with psychotherapy.

Twelve participants will be enrolled, with dosing expected to begin in the third quarter of calendar year 2025 (Q3 CY25) and top-line results anticipated by year-end. BED is the most common eating disorder in the United States and the second most common in Australia, representing a substantial unmet medical need and commercial opportunity.

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West Wits Mining Ltd (ASX:WWI, OTCQB:WMWWF) is pressing ahead with mine development activities at its flagship Qala Shallows Project, supported by a forthcoming A$14 million capital raise and an increase in ownership of the broader Witwatersrand Basin Project (WBP) to 74%.

Key work streams include the buy-back of minority interests in its South African subsidiary, an optimised Definitive Feasibility Study (DFS) reflecting stronger gold prices and improved economics, mobilisation for ore extraction at Qala Shallows, and progress on its long-term Project 200 expansion strategy.

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Ionic Rare Earths Ltd (ASX:IXR, OTC:IXRRF) plans to establish several magnet recycling facilities across the United States, aiming to address near-term shortages in rare earth oxides (REOs) and support US efforts to eliminate Chinese-origin critical minerals from its defence and industrial supply chains.

Discussions are underway with multiple US-based groups, with support from both the private sector and government stakeholders. The move follows escalating concerns over supply chain vulnerabilities after China introduced rare earth export restrictions in April.

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