The S&P/ASX Small Ordinaries Index gained 12.40 points, or 0.36%, to close at 3,468.70 yesterday, but is up 0.97% over the past five days.
It’s a slow start to the day on the news front, but you can read about the following and more throughout the day.
Gold mining stocks have surged in 2025, outpacing bullion as strong quarterly results and disciplined capital spending help restore investor confidence, UBS said. The GDX index has risen more than 40% year-to-date and outperformed gold by 15% over the past three months, led by Gold Fields (+40%), AngloGold Ashanti (+30%), Newmont (+30%) and Kinross (+25%).
UBS noted first- and second-quarter results were broadly positive, with record free cash flow, stable production and cost guidance despite higher royalties, and a focus on cash returns over aggressive capital spending. Analysts said the sector is “starting to rebuild investor confidence and trust.” Strong balance sheets may support accelerated share buybacks in the second half, while organic growth projects and selective mergers and acquisitions could also gain traction, mainly through regional consolidation.
HudBay Minerals Inc. (TSX:HBM) shares surged after the miner announced a $600 million strategic investment from Mitsubishi for a 30% joint venture interest in the Copper World project in Arizona.
Announced alongside its Q2 earnings, the deal includes an initial cash investment of $420 million, with $180 million to follow within 18 months.
Small cap US stocks were the standout on Wednesday, with the Russell 2000 index surging 3% to 2,283, but analysts at Bank of America cautioned that investors should weigh both risks and long-term opportunities in the sector.
The Russell 2000, which tracks smaller companies, is trading near its long-term average valuation, while larger companies remain far more expensive, analysts noted.
EDM Resources Inc (TSX-V:EDM, OTC:SWNLF) announced that it has completed the sale of a silver royalty to Silver Crown Royalties.
Under the terms of the agreement, EDM received an initial payment of C$250,000 and 60,000 units of Silver Crown.
C3 Metals Inc (TSX-V:CCCM, OTC:CARCF) has begun diamond drilling at its Bellas Gate copper-gold project in Jamaica, targeting multiple prospects along an 18-kilometre strike length.
The program will test 14 porphyry targets, most of which have seen little or no previous drilling, as well as a volcanic redbed copper-silver zone in the project’s northwest.
Standard Uranium Ltd (TSX-V:STND, OTCQB:STTDF) announced plans to start a diamond drill program at its flagship Davidson River project in the southwest Athabasca Basin region of northern Saskatchewan.
The drill program follows the completion of the first Exosphere Multiphysics survey conducted in the southwest Athabasca Uranium District.
Nano One Materials Corp (TSX:NANO, OTC:NNOMF) said it ended the second quarter with a solid cash position and new growth opportunities in the US after being named a top lithium iron phosphate (LFP) innovator by the International Energy Agency (IEA) and joining a high-profile US battery supply chain accelerator.
The Canadian technology company, which is developing new methods for producing cathode active materials for lithium-ion batteries, reported total net assets of C$23.2 million and working capital of C$22.8 million as of June 30, 2025.
Argentina Lithium & Energy Corp (TSX-V:LIT, OTCQX:LILIF) said on Wednesday it has amended an option agreement for the Amelia lithium properties in Argentina, setting the value of shares to be issued to the project’s optionor.
The company’s subsidiary, Argentina Litio Y Energia, holds an option to acquire a 100% interest in three mine concessions covering 5,411 hectares in the Salar de Antofalla, Catamarca Province.
Imaging Biometrics Ltd (LSE:IBAI, OTCQB:IQAIF) chief executive Trevor Brown told investors that conditions are beginning to improve, as the company advances its technologies and also gains traction in its sector.
The company, previously known as IQ-AI, is developing and rolling out solutions to improve outcomes for patients suffering aggressive cancer, on Wednesday reported interim results for the six twelve months ended 31 December.
Thor Energy PLC (AIM:THR, OTCQB:THORF, ASX:THR) has completed the sale of a 75% interest in its US uranium and vanadium projects in Colorado and Utah to Metals One PLC (AIM:MET1), with Thor receiving £1 million paid in shares, plus £100,000 in cash.
Under the deal, Metals One becomes the operator of the projects, while Thor retains a 25% interest and grants a 12-month exclusive option for Metals One to acquire the remainder at a mutually agreed or independently determined price.
Shares in Caledonian Holdings climbed 13% after the AIM-listed investor completed a share swap to increase its holding in financial services firm AlbaCo Limited.
The company acquired 250,000 AlbaCo shares from executive director Jim McColl at £1.00 each, paying in 5.8 billion new Caledonian shares priced at 0.0043125p.
Aurrigo International (AIM:AURR) shares rallied some 10% in Wednesday’s early deals, after announcing a new multi-year contract at Teesside International Airport.
It follows a profit warning earlier this week, as its automotive unit sees downstream impacts from Donald Trump’s tariff policies.
Cornish Metals Inc (AIM:CUSN, TSX-V:CUSN, OTC:SBWFF) told investors it is continuing to see progress at the South Crofty tin project, where dewatering and shaft refurbishment work remains on track.
The company said the work had reached the mid-shaft pump station at around 360 metres depth in the New Cook’s Kitchen shaft. The underground chamber at this level has been stabilised and installation of new permanent pumps has begun.
European Lithium Ltd (ASX:EUR, OTCQB:EULIF) and NASDAQ-listed affiliate Critical Metals Corp (CRML) have reported that Tanbreez Mining Greenland A/S — which operates Critical Metals’ Tanbreez Rare Earth Project in southern Greenland — has appointed global engineering and environmental consultancy NIRAS A/S to complete a definitive feasibility study (DFS) for a proposed 500,000 metric tonnes per annum (Mtpa) mining and processing operation at the project.
Critical Metals holds a controlling interest in Tanbreez, one of the world’s largest rare earth deposits, and can increase its stake to 92.5% with an investment of up to US$10 million, expected in 2025. European Lithium owns about 60% of Critical Metals’ issued capital, giving it a significant indirect interest in Tanbreez.
Tamboran Resources Corporation (ASX:TBN, NYSE:TBN, OTC:TBNRL) has signed a landmark agreement with Native Title Holders and the Northern Land Council that paves the way for gas sales from its Beetaloo Basin exploration permits under the Northern Territory’s Beneficial Use of Gas legislation.
The agreement allows the Beetaloo Joint Venture (BJV) to sell appraisal gas from Exploration Permits 98 and 117, allowing production of up to 60 terajoules per day over three years from the proposed Shenandoah South Pilot Project. The BJV will now focus on securing the necessary regulatory approvals for long-term production.