The S&P/ASX Small Ordinaries Index (ASX: XSO) closed at 3,611.40, up 30.10 points or 0.84% on the day and 69.20 points or 1.95% higher over the past five sessions.
It;s been a solid start to the week for small cap news announcements. You can read the following and more throughout the day.
Aurum expands Côte d’Ivoire footprint
Aurum Resources Ltd (ASX:AUE), via subsidiary Plusor Global, signed an agreement to acquire 35% of Major Star Plus Sarl and earn up to 87% interest in three permit applications. The deal adds ground to its Boundiali (2.41 million ounces) and Napié (0.87 million ounces) gold projects. Applications cover 114.53 square kilometres west and south of Boundiali, 99.12 square kilometres west of Napié, and a further 254.97 square kilometres in central Côte d’Ivoire.
Buru secures funding
Buru Energy Ltd (ASX:BRU, OTC:BRNGF) raised A$2.1 million via placement to sophisticated investors and will seek a further A$3 million through a share purchase plan. Proceeds will advance the Rafael Gas Project to deliver near-term cash flow.
Krakatoa begins drilling in Georgia
Krakatoa Resources Ltd (ASX:KTA) commenced a 7,000–10,000 metre maiden diamond drilling program at the Zopkhito antimony-gold project in Georgia. The campaign aims to upgrade a foreign resource estimate of 26,000 tonnes of antimony and 815,119 ounces of gold into JORC-standard status.
Synertec extends debt facility
Synertec Corporation Ltd (ASX:SOP) secured a A$4 million extension to its debt facility with Altor Capital, lifting the total available to A$19 million. Funds will support working capital and rollout of the Group’s renewable “Powerhouse” portable solar battery system, which has delivered five years of continuous power across remote Australian sites.
Yandal starts RC drilling
Yandal Resources Ltd (ASX:YRL) commenced reverse circulation drilling at the Arrakis Prospect within its Caladan target, part of the Ironstone Well-Barwidgee Gold Project. The 6–10 hole program will test continuity of mineralisation below previous air-core intercepts. Assay results are expected within five to seven weeks.