The S&P/ASX Small Ordinaries Index (XSO) edged down marginally by 1.80 points or 0.05% to 3,489.80 on Wednesday but remains up 0.97% over the past five trading days.
It's a quiet start on the news front this morning, but you can read about the following and more throughout the day.
Sovereign Metals posts strong agricultural yields from Kasiya rehab
Sovereign Metals Ltd (ASX:SVM, OTC:SVMLF, AIM:SVML) has delivered encouraging first-year results from rehabilitation trials at its Kasiya Rutile-Graphite Project in Malawi. The trials demonstrate post-mining land use that outperforms pre-mining productivity, with maize yields reaching 5.2 tonnes per hectare—five times the regional average. The findings support the company’s progressive rehabilitation strategy and will feed into the project’s Definitive Feasibility Study.
European Lithium confirms rare earth continuity at Tanbreez
European Lithium Ltd (ASX:EUR, OTCQB:EULIF) has released initial 2024 diamond drilling results from its Tanbreez Rare Earth Project in Greenland. All four holes reported high-grade total rare earth oxide (TREO) mineralisation between 0.48% and 0.55%, with heavy rare earth oxide content comprising 25–27% of TREO. Zirconium oxide grades ranged from 1.86% to 1.99%, and gallium oxide assays hit 90–100 ppm. Drilling continues under the 2024–2025 Fjord Resource Upgrade program, with more assay results due between August and October.
Lindian Resources raises A$91.5M to progress Kangankunde build
Lindian Resources Ltd (ASX:LIN, OTC:LINIF)has secured A$91.5 million in a two-tranche placement, attracting significant institutional demand. The raise follows a binding long-term offtake agreement and debt funding facility with Iluka Resources Ltd. The board has approved a Final Investment Decision for Stage 1 construction at the Kangankunde Rare Earths Project in Malawi.