The S&P/ASX Small Ordinaries Index [XSO] closed at 3,605.30 points, up 35.50 points or 0.99% on the day, and has gained 127.50 points or 3.67% over the past five trading sessions.
It's been a slow start to the day on the small cap news front, however, you can read about the following and more throughout the day.
Spanish Mountain Gold Ltd (TSX-V:SPA, OTC:SPAZF) announced it has closed its previously announced brokered private placement for aggregate gross proceeds of approximately C$7.2 million.
The financing included the full exercise of the agent’s option.
Abercrombie & Fitch (NYSE:ANF) announced second quarter 2025 financial results that narrowly beat analyst expectations, even as its comparable store sales fell 11% year-over-year.
The youth-focused apparel retailer saw its net sales for the period rise 7% to $1.21 billion, edging past the $1.20 billion expected by analysts, according to a LSEG survey.
Nevis Brands (CSE:NEVI, OTCQB:NEVIF) announced that it has entered into a licensing agreement with JBS Technologies NM LLC, doing business as Stash House NM, to produce and distribute its Major cannabis beverages in New Mexico.
The agreement grants Stash House NM exclusive rights to produce and distribute the Major product line in the state. Initial production will focus on Major shots in Blueberry, Fruit Punch, and Blackberry Lemonade flavors.
U.S. Gold Corp (NASDAQ:USAU) announced that its wholly-owned subsidiary, Gold King Corp, has signed an engineering and procurement contract with Cheyenne Light, Fuel and Power Company (CLFP), a subsidiary of Black Hills Corp, for the CK Gold Project in southeast Wyoming.
The agreement represents the first step toward the construction of a power line that would provide electricity to the project, the company said.
Sonoro Gold Corp (TSX-V:SGO, OTCQB:SMOFF) announced that it is increasing the size of its previously announced, non-brokered private placement in response to investor demand.
The exploration and project development firm said it will now issue 10 million company units, at an offering price of C$0.15 per unit, with the intention of raising gross proceeds of C$1.5 million.
American Resources Corp (NASDAQ:AREC)’ subsidiary ReElement Technologies has signed a memorandum of understanding (MOU) with Principal Mineral to develop an integrated rare earth separation and metal production capability in the United States.
Announced on Wednesday, the agreement outlines plans to combine rare earth separation, fluoride production, and metallization within a single co-located facility.
Lancaster Resources Inc (CSE:LCR, OTCQB:LANRF) announced that it has completed its acquisition of a 100% interest in the Lac Iris polymetallic project in Quebec’s James Bay region, following approval from the Québec mining authority, Ministère des Ressources naturelles et des Forêts (MRNF).
The Canadian exploration company noted that the Lac Iris property lies along the geological trend hosting the Whabouchi Lithium pegmatite deposit and the Nisk polymetallic nickel-copper sulphide deposit.
NanoViricides (NYSE-A:NNVC) has highlighted the potential of its broad-spectrum antiviral NV-387 to address emerging COVID variants as cases of the new “Stratus” strain climb in California.
The Stratus variant, a descendant of Omicron, now accounts for the vast majority of cases detected in wastewater, according to Los Angeles county health officials.
C3 Metals Inc (TSX-V:CCCM, OTC:CARCF) announced it has hired Peru’s AK Drilling International SA to begin a minimum of 6,000 metres of diamond core drilling at its 100%-owned Khaleesi copper-gold project in Peru.
The mineral exploration company said mobilization of equipment and personnel to the drill site is scheduled to take place during the first half of September.
Zenith Energy Ltd (LSE:ZEN, TSX-V:ZEE) announced it has acquired an additional agrivoltaic development project in Italy’s Lazio region, expanding its local pipeline to fifteen megawatts peak (MWp).
It comes after the firm's first Lazio deal earlier this month. This new project is on a 10-hectare site, and it's planned for a five MWp installation, taking the Lazio 'cluster' potentially to 15MWp.
European Lithium Ltd (ASX:EUR, OTCQB:EULIF)’s fully owned subsidiary, Critical Metals Corp (Nasdaq: CRML), has entered into a letter of intent (LOI) for a multi-year offtake agreement with Ucore Rare Metals Inc (Ucore). The deal will see Critical Metals supply up to 10,000 metric tonnes of rare earth concentrate annually from the Tanbreez Rare Earth Project in Greenland, representing about 10% of the project’s initial projected output.
The agreement marks a milestone for both Critical Metals and European Lithium, validating Tanbreez as a world-class asset and advancing efforts to develop an independent rare earths supply chain in North America.
Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) has reported further positive assays from its maiden drilling at its wholly-owned Guitry gold project in Côte d’Ivoire.
The 3,000-metre reverse-circulation drill programme has returned high-grade intercepts, Thor said, highlighting that the programme aims to unlock a better understanding of the mineralisation, following a phase of work interpreting historic data.
Basin Energy Ltd (ASX:BSN, OTC:BSNEF) has struck a binding agreement to acquire one of Queensland’s largest uranium and rare earths exploration packages, adjacent to Paladin Energy’s Valhalla uranium deposit and Red Metal’s Sybella rare earth discovery. The news sent shares up nearly 200% in early trading.
The acquisition delivers Basin three distinct, drill-ready exploration models supported by government funding and an oversubscribed A$1.25 million placement. With exploration planning already underway, the company will commence drilling in the December 2025 quarter.
Provaris Energy Ltd (ASX:PV1, OTC:GBBLF) has raised A$1 million (before costs) through a share placement of approximately 52.6 million new fully paid ordinary shares at an issue price of A$0.019 per share. The placement received strong support from both new and existing investors, reflecting growing confidence in the company’s strategy.
The company's strengthened balance sheet will support 2025 milestones and accelerate 2026 growth initiatives.
archTIS Ltd (ASX:AR9, OTCQB:ARHLF) has struck a deal to acquire the assets of US data security software provider Spirion LLC, a move the company says will materially expand its North American presence and boost its annual recurring revenue base.
The A$15.7 million transaction — priced at 0.9 times Spirion’s FY25 annual recurring revenue (ARR) — will lift archTIS’ pro-forma ARR to A$21.8 million. Spirion generated A$17 million in FY25 revenue and serves more than 150 enterprise, government and education clients.