The Australian stock market maintained its upward trajectory yesterday, with the S&P/ASX 200 closing above 8,800 for the first time, marking another record-breaking day. The Small Ordinaries Index (XSO) outperformed, increasing 1.46% against the broader index’s 0.84% rise.
Despite weaker leads from the US, the Australian market shrugged off the global concerns, bolstered by strong demand for precious metals stocks — particularly silver — amid rising gold and silver prices. Most sectors saw solid gains, including Resources, Energy, and Technology.
Thursday is off to a relatively quiet start for small caps as the Diggers & Dealers Mining Forum wraps up in Kalgoorlie, WA, with just a handful of companies reporting updates this morning. We preview some of the news flow below.
Tryptamine Therapeutics progresses world-first clinical trial for Binge Eating Disorder
Tryptamine Therapeutics Ltd (ASX:TYP, OTC:TYPTF) has secured a key regulatory permit from Swinburne University to begin a world-first clinical trial using its TRP-8803 (IV-infused psilocin) to treat Binge Eating Disorder (BED). Patient screening is advancing, with enrolment expected this month and first dosing scheduled for this quarter.
The open-label study will assess safety and efficacy of TRP-8803 alongside psychotherapy in BED patients, with top-line results expected in Q4 CY25.
Nova Minerals reports breakthrough results in antimony ore sorting tests
Nova Minerals Ltd (ASX:NVA, NASDAQ:NVA, OTC:NVAAF) has reported promising ore sorting results from its Styx antimony prospect at the Estelle Project in Alaska, achieving a 132% upgrade to produce a high-grade antimony trisulfide concentrate. The test work demonstrates the potential for low-cost, scalable processing and highlights synergies with gold recovery.
Nova continues to position the Estelle Project as a strategic asset for US domestic antimony production, especially in light of growing pressure on Western defence supply chains.