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Archive

Small cap wrap: GoviEx Uranium, Sonoro Gold, Happy Creek Minerals, Zynex...

Resolution Minerals Ltd (ASX:RML, OTC:RLMLF) has started Phase 1 drilling at its Horse Heaven Gold-Antimony-Tungsten Project in Idaho, United States, located adjacent to $3 billion-capped Perpetua Resources' Stibnite Gold Mine. The program follows the appointment of contractor Evolve, receipt of final approvals, and project bonding.

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Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) shares gained more than 20% in Monday's exchanges after it reported that its Dubhe-1 appraisal well on Alaska's North Slope exceeded pre-drill expectations in the primary SMD-B target.

"We are delighted to announce the Dubhe-1 pilot hole results as a success," said chief development officer Erich Krumanocker.

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C3 Metals Inc (TSX-V:CCCM, OTC:CARCF) announced that it has obtained all regulatory approvals required to begin exploration drilling at its 100%-owned Khaleesi copper-gold project in Peru.

The company said that the approvals cover surface access and drilling agreements with the Cancahuani community, the Declaración de Impacto Ambiental environmental permit, authorization to start exploration activities, and authorization for water use.

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GoviEx Uranium Inc (TSX-V:GXU, OTCQB:GVXXF) has announced a reverse takeover of Tombador Iron, paving the way for an Australian Securities Exchange (ASX) listing and a strengthened cash position of up to A$24.4 million.

The deal will see GoviEx shareholders retain a 75% majority stake in the newly renamed company, Atomic Eagle, while Tombador’s existing shareholders will hold the remaining 25%.

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Zynex Inc (NASDAQ:ZYXI), a medical technology company specializing in non-invasive devices for pain management, rehabilitation, and patient monitoring, announced the arrival of Steven Dyson as its new CEO, along with the appointment of several senior leaders.

The company announced back in June that Dyson had been selected as incoming CEO. Since that announcement, he and board chairman Thomas Sandgaard have worked with directors to complete appointments in key leadership positions.

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Ocean Power Technologies Inc (NYSE-A:OPTT) announced it has opened a new office at the Association for Uncrewed Vehicle Systems International (AUVSI) headquarters in Washington, DC, expanding its US presence and strengthening ties with the uncrewed systems industry.

The company said the office underscores its commitment to advancing uncrewed systems operations and national policy engagement.

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Empire Metals Ltd (AIM:EEE, OTCQB:EPMLF) shares soared in Monday's trade after the firm told investors it has outlined a large, high-grade titanium dioxide zone at the Thomas prospect, part of its Pitfield Project in Western Australia, where it has seen some of the strongest grades to date.

The newly defined central core averages approximately 6% TiO₂ across a continuous 3.6km strike length, with mineralisation starting near surface, Empire highlighted.

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Sonoro Gold Corp (TSX-V:SGO, OTCQB:SMOFF) announced that it has received final acceptance from the TSX Venture Exchange for its surface rights lease agreement covering the Cerro Caliche gold project located in Sonora, Mexico.

With the approval, the company said it now controls 100% of both surface and mineral rights for the project, including exclusive access for exploration, development, extraction, and construction of mining infrastructure.

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Voyageur Pharmaceuticals Ltd (TSX-V:VM, OTC:VYYRF) has brought on VAST Resource Solutions Inc. to advance permitting at its Frances Creek barite project, part of the company’s push to develop a domestic supply of pharmaceutical-grade material in North America.

The company said Monday that British Columbia-based VAST Resource Solutions will prepare and lead the submission of a bulk sample permit application for Frances Creek.

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Happy Creek Minerals Ltd. (TSX-V:HPY, OTC:HPYCF) said on Monday it had closed an over-subscribed C$3.75 million private placement, with institutional investors including funds managed by Waratah Capital Advisors taking part.

The financing will allow the Vancouver-based explorer to launch a 10,000-metre drill program at its Fox tungsten project in British Columbia, aimed at expanding a 2018 resource estimate.

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European Metals Holdings Ltd (AIM:EMH, ASX:EMH, OTCQX:EMHLF) has outlined its funding pathway to complete the definitive feasibility study (DFS) for the Cinovec lithium project in the Czech Republic.

Also, project company Geomet has issued a €11 million cash call, of which EMH’s share is €5.39 million, payable by 10 October.

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Pulsar Helium Inc (LSE:PLSR) shares surged in Monday's trade, after the small-cap reported major flow test results from the Jetstream-1 appraisal well at its Topaz project in Minnesota.

The well saw a peak natural flow rate of about 501 thousand cubic feet pay during tests, it said.

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Altona Rare Earths PLC (LSE:REE) shares traded up on Monday, after a strategic and operational update covering its Monte Muambe project in Mozambique confirmed forward momentum.

The company said it has submitted a proposal to the US Trade and Development Agency for funding support of the rare earths prefeasibility study.

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Geo Exploration (LSE:GEO) traded on the front foot through Monday's early deals, after appointing a contractor for a maiden diamond core drilling campaign at its Juno Project in Western Australia.

It hired DDH1 Drilling for the work, which the explorer said is on track to start this quarter.

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Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) told investors it has unearthed high-grade gold intersects from a deep diamond drilling program at the Segilola gold mine in Nigeria.

"We are delighted to report continued positive progress from our deep diamond drilling program at Segilola, which has generated several significant gold intersections below the current open pit design," said chief executive Segun Lawson.

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HeLIX Exploration PLC (AIM:HEX, OTCQB:HHEXF) told investors it has mobilised equipment to the Inez-1 well site at the Rudyard field.

Operations begin today, 18 August, and testing is expected to start tomorrow, 19 August.

The programme will focus on helium-bearing zones in the Lower Souris River and Red River formations, which will be perforated and flow-tested to assess reservoir productivity and helium concentration.

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88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) has agreed to sell its 75% non-operated working interest in Project Longhorn, a package of producing oil and gas assets in the Permian Basin, in Texas.

It is selling the package of assets to operator Lonestar I for US$3.25 million (with final consideration subject to customary working capital and completion adjustments, effective 1 July).

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Ilika PLC (AIM:IKA, OTCQX:ILIKF) has started production of its solid-state micro-batteries in the United States after completing the final stage of qualification at a partner facility in Massachusetts.

The AIM-listed company said its Stereax M300 line at Cirtec Medical’s site in Lowell had passed technical checks, allowing manufacturing to move ahead for testing and first deliveries.

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American Rare Earths Ltd (ASX:ARR, OTCQB:ARRNF), through its subsidiary Wyoming Rare (USA) Inc., has begun construction of a test mine at the Cowboy State Mine, part of the Halleck Creek deposit in Wyoming. The program, operating under a State of Wyoming License to Explore by Dozing, will extract about 3,200 tonnes of ore to provide feedstock for a planned demonstration plant. Bulk sampling will also support ongoing mineral processing optimisation.

The company has already completed the first of two scheduled blasts, fracturing weathered material to a depth of 3.6 metres, which is now being excavated and stockpiled. Once removed, underlying non-weathered ore will be blasted, crushed to five centimetres, and stockpiled for further work.

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Gold and copper are riding parallel waves of investor enthusiasm in 2025, as markets seek both the security of precious metals and the growth upside of clean energy commodities. Gold prices have climbed to record highs near US$3,300 an ounce — up around 60% since the start of 2024 — while copper has gained roughly 45% over the same period amid a tightening supply picture and accelerating global electrification demand.

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Lumos Diagnostics Holdings Ltd (ASX:LDX, OTC:LDXHF) has submitted its application to the US Food and Drug Administration (FDA) for Clinical Laboratory Improvement Amendments (CLIA) waiver classification for its FebriDx® test. FebriDx® is a rapid, point-of-care test that differentiates bacterial from non-bacterial respiratory infections in about 10 minutes, potentially reducing unnecessary antibiotic use.

The clinical trial data surpassed performance targets, triggering milestone payments of about US$1.3 million from the Biomedical Advanced Research and Development Authority (BARDA) and US$1.5 million from distribution partner Phase Scientific.

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