The S&P/ASX Small Ordinaries Index [XSO] closed at 3,498.90, up 19.70 points or 0.57% on Friday, and 44.30 points or 1.28% higher over the past five trading days.
News is trickling in today, but you can read about the following and more throughout the day.
Alkane clears A$45 million debt
Alkane Resources Ltd (ASX:ALK, OTC:ALKEF) has repaid the outstanding A$45 million Macquarie facility, originally established to expand its Tomingley Gold Operations in New South Wales. The repayment was funded from cash reserves, leaving the company substantively debt free aside from equipment financing. Managing Director and CEO Nic Earner said: “The repayment of the A$45 million outstanding balance on our debt facility reflects Alkane’s financial flexibility following the completion of the merger. This position demonstrates the strength of Alkane's balance sheet and gives us increased flexibility to pursue strategic organic and potential external growth opportunities whilst retaining a very strong working capital position.”
Lumos Diagnostics completes US clinical study
Lumos Diagnostics Holdings Ltd (ASX:LDX, OTC:LDXHF) has completed its clinical study and submitted an application to the US Food and Drug Administration for CLIA waiver classification of its FebriDx® device. The study demonstrated 99.1% concordance between trained and untrained operators in bacterial-positive patients, and 98.4% for non-bacterial patients, supporting the device’s simplicity and reliability.
St George expands investor reach with Frankfurt listing
St George Mining Ltd (ASX:SGQ) has secured a dual listing on the Frankfurt Stock Exchange and appointed Dr Reuter IR as its European investor relations adviser. The move comes as rare earths markets face supply chain pressures due to China’s export restrictions on key elements and magnets.
Yandal Resources reports assays at Caladan
Yandal Resources Ltd (ASX:YRL) has released assay results from 72 additional air-core drill holes at its Caladan target, part of the Ironstone Well-Barwidgee Gold Project in Western Australia. The program tested 6.4 kilometres of strike across 13,933 metres of drilling.
Victory Metals secures A$250,000 MRIWA grant
has been awarded a A$250,000 research grant from the Minerals Research Institute of Western Australia to advance scandium oxide production at its North Stanmore Project. The project hosts 7.7 million kilograms of scandium, with supply chain risks heightened following China’s recent export controls.