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The Markets
by Proactive
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Small cap wrap: North Bay Resources, 374 Water, American Resources, Medicus Pharma...

U.S. Global Investors (NASDAQ:GROW) expanded its international presence in fiscal 2025 with new ETF listings in Mexico and Colombia, even as the company faced challenging market conditions.

Its U.S. Global Sea to Sky Cargo ETF (NYSE: SEA) launched on the Mexican Stock Exchange, joining the U.S. Global Jets ETF (NYSE: JETS) and the GoGold and Precious Metal Miners ETF (NYSE: GOAU).

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Analysts at Noble Capital Markets repeated their ‘Outperform’ rating on Bit Digital Inc (NASDAQ:BTBT), encouraged by the company’s August Ethereum treasury and staking update.

As of August 31, 2025, Bit Digital reported holding approximately 121,252 Ethereum, including around 15,084 Ethereum and Ethereum-equivalents in an externally managed fund and roughly 5,094 Ethereum on an as-converted basis from LsETH using Coinbase’s conversion rate.

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Summit Therapeutics PLC (NASDAQ:SMMT) shares dropped sharply on Monday following the release of mixed results from its Phase III HARMONi trial of ivonescimab, a potential lung cancer therapy.

The stock fell 23.4% to about $20 in the early afternoon.

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North Bay Resources Inc. (OTC:NBRI) announced it has entered into a 50/50 joint venture with Toiyabe Kona Exploration covering the Silver Strike Concessions in Lander County, Nevada.

The property includes the past-producing X-Ray, OK, and Dudley-B mines, historically noted for exceptionally high silver grades, including reports of up to 1,072 ounces per ton at the X-Ray Mine.

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374Water Inc (NASDAQ:SCWO) has announced a Waste Destruction Services (WDS) collaboration agreement with Crystal Clean, which will focus on the eradication of PFAS (forever chemicals).

The provider of organic waste destruction technology and services said it will establish a full-service WDS operation to unlock significant revenue opportunities across municipal, federal, and industrial market verticals.

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American Resources Corp (NASDAQ:AREC) announced that its wholly owned subsidiary, Electrified Materials, has developed a scalable recycling platform to extract rare earth elements from e-waste, including speakers, power tools, and hard drives.

The company said the process separates materials by density and hardness, creating a clean mixed rare earth powder.

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Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN) has announced plans to transfer its listing from AIM to the Main Market of the London Stock Exchange.

The move represents a natural continuation of Pan African’s growth, chief executive Cobus Loots highlighted.

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Medicus Pharma (NASDAQ:MDCX) announced that its SKNJCT-004 Phase 2 clinical study, a non-invasive treatment for Basal Cell Carcinoma (BCC) of the skin, has begun patient recruitment in Cleveland clinic Abu Dhabi in the United Arab Emirates (UAE).

The biotech/life sciences company said the study is expected to randomize 36 patients in four sites in UAE.

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Gaming Realms PLC (LSE:GMR, OTCQX:PSDMF) posted a solid set of half-year results on Monday, with revenue up 18% and adjusted earnings before interest, tax, depreciation and amortisation rising 30%, both in line with expectations.

Net cash jumped by £5.5m to £19m, and Peel Hunt now sees that figure rising further to £22.5m by the end of the year.

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HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) has reported a 22% month-over-month increase in Bitcoin production for August 2025, supported by expanded operations in Paraguay.

The company produced 247 Bitcoin during the month, up from 203 Bitcoin in July, with an average daily production rate of 8 Bitcoin.

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Sonoro Gold Corp (TSX-V:SGO, OTCQB:SMOFF) reported that it has further increased its previously announced, fully subscribed, non-brokered private placement to 13.35 million units for gross proceeds of about C$2 million in response to what it called “strong investor demand”.

The exploration and project development company said net proceeds from the offering will be used to fund the ongoing development of its Cerro Caliche gold project in Mexico as well as working capital.

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Zephyr Energy PLC's (AIM:ZPHR, OTCQB:ZPHRF) recently completed acquisition in the US Rocky Mountains has prompted upbeat assessments from sector analysts, who see material growth potential and a near-term news flow pipeline that could help re-rate the company’s share price.

The deal, worth $7.3 million, brought in mature, high-margin production assets while expanding Zephyr’s footprint in its long-standing core area.

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Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) shares traded higher on Monday after a positive update from Alaska, where drilling was completed for the Dubhe-1 appraisal well.

The Dubhe-1 appraisal well, in Alaska’s North Slope, reached a depth of 15,800 feet, with the well’s lateral section cutting about 5,200 feet in the SMD-B reservoir, exceeding a pre-drill target of 3,000 to 4,000 feet.

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Invinity Energy Systems PLC (AIM:IES, OTCQX:IESVF, AQSE:IES) shares started the week strongly, after the firm announced a deal with a Chinese battery manufacturer.

The company, in a statement, said it has signed a memorandum of understanding with Xiamen C&D Corporation to develop battery manufacturing facilities in Xiamen, China.

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Shares in Hemogenyx Pharmaceuticals PLC (LSE:HEMO, OTC:HOPHF) jumped 19% on Monday after the biotech announced a manufacturing partnership to advance its experimental CAR-T therapy for acute myeloid leukaemia.

The London-listed group said it would work with Made Scientific, a US-based contract manufacturer specialising in cell therapies, to scale up production of HG-CT-1.

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Accesso Technology Group PLC (LSE:ACSO, OTC:LOQPF) has appointed Mike Evenson as its new chief commercial officer, overseeing global commercial strategy, focusing on sales, marketing and business development.

Evenson brings to the role more than two decades of experience across technology, ticketing, live events and customer engagement.

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Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) has agreed to acquire the remaining 30% economic interest in the Douta gold project, in Senegal, from JV partner

The transaction increases Thor’s ownership in the project from 70% to 100%.

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Gaming Realms PLC (LSE:GMR, OTCQX:PSDMF) has posted an 18% jump in half-year revenues after strong demand for its online games in North America helped offset new restrictions in the UK.

The London-listed group, best known for its Slingo titles that blend slots and bingo, said revenues reached £16 million in the six months to June, up from £13.6 million a year earlier.

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Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) told investors it has successfully drilled the lateral section of the Dubhe-1 appraisal well in Alaska’s North Slope.

The well reached a total measured depth of 15,800 feet, with about 5,200 feet in the SMD-B reservoir, exceeding a pre-drill target of 3,000 to 4,000 feet.

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Chill Brands Group PLC (LSE:CHLL, OTCQB:CHBRF) has struck a partnership with a start-up developing what could be a cleaner alternative to conventional vaping.

The London-listed distributor of consumer goods said it would work with SYP Global, a private company building a new nicotine delivery system that avoids heating liquids or using the solvents typically found in e-cigarettes.

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DroneShield Ltd (ASX:DRO, OTC:DRSHF) has secured inclusion in the S&P/ASX 200 Index, effective before market open on September 22, 2025, marking a significant milestone in its growth as a global defence technology provider.

The company’s entry into the index, which covers about 89% of the Australian equity market by capitalisation, follows earlier inclusion in other benchmarks such as the Mirae Asset Global X Defence Tech Index, the Global X Defence Tech ETF, the MSCI Global Small Cap Asia Pacific Australia Index, the All Ordinaries, and the S&P/ASX 300 Index.

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Buru Energy Ltd (ASX:BRU, OTC:BRNGF) has opened its Share Purchase Plan (SPP), offering eligible shareholders the opportunity to subscribe for up to A$30,000 worth of new fully paid ordinary shares at an issue price of 2.0 cents per share, without incurring brokerage fees.

The SPP follows a successful placement announced on September 1, 2025, which raised approximately A$2 million from institutional, professional and sophisticated investors at the same price. The company is targeting up to A$3 million through the SPP. Should applications exceed this amount, the board may scale back allocations or accept oversubscriptions at its discretion.

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West Wits Mining Ltd (ASX:WWI, OTCQB:WMWWF) has secured investment committee approval for a US$12.5 million (A$19 million) loan facility from Nebari Natural Resources Credit Fund II LP. The loan will fund development of the Qala Shallows Gold Project, the first stage of the company’s Witwatersrand Basin Project (WBP) in South Africa.

The financing structure allows for additional funding of up to US$22.5 million through two further tranches, offering scalability as the project advances. Importantly, the loan safeguards existing shareholder interests while preserving access to an existing ZAR 875 million (approximately US$50 million) South African bank facility.

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Orthocell Ltd (ASX:OCC, OTC:ORHHF) has reported compelling interim results from a multi-centre real-world study of its flagship nerve repair device, Remplir™, delivering an overall treatment success rate of 81.1%.

The company said the results confirm Remplir™’s role as a safe and effective medical device for connecting severed nerves, protecting damaged nerves and capping nerve ends after amputation — outcomes that will underpin its US commercial rollout and upcoming regulatory submissions in Europe and the UK.

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Resolution Minerals Ltd (ASX:RML, OTC:RLMLF) has reported encouraging initial results from its maiden diamond core drilling program at the Golden Gate Target within the Horse Heaven Gold-Antimony-Tungsten-Silver Project in Idaho, USA.

The company has completed four holes totalling 960 metres of a planned 3,000-metre Phase 1 program of up to 12 holes. Early work has revealed host rock mineral textures comparable to those at Perpetua Resources’ adjoining Stibnite Gold Project, while scheelite, a tungsten ore mineral, has been identified under ultraviolet light in three of the first four holes.

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