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The Markets
by Proactive
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Small cap wrap: ReconAfrica, Excellon Resources, American Resources, Trust Stamp…

T Stamp Inc (NASDAQ:IDAI, EURONEXT:AIID), doing business as Trust Stamp, announced that it has been selected as one of the top 40 participants in the K-Startup Grand Challenge (KSGC) 2025, South Korea’s premier acceleration program for innovative foreign startups.

The AI-powered identity services provider said as a member of the 2025 KSGC cohort, the company will focus on building local relationships, expanding its partner ecosystem, and preparing for long-term operational presence in Korea.

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Excellon Resources Inc (TSX:EXN, OTCQB:EXNRF) announced the closing of its previously disclosed private placement of common shares, raising gross proceeds of C$12 million.

The financing included the full exercise of the agents' option.

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American Resources Corp (NASDAQ:AREC), through its subsidiary ReElement Technologies Corporation, announced that the US Department of Defense (DoD) has awarded $2 million to support the company’s advanced rare earth element (REE) refining technology.

The funding, provided through the DoD’s Office of the Assistant Secretary of Defense for Industrial Base Policy under the Industrial Base Analysis and Sustainment Program, is intended to expand domestic REE separation and purification capabilities.

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Reconnaissance Energy Africa Ltd (TSX-V:RECO, OTCQX:RECAF) announced that it has entered into a production sharing contract and a joint venture (JV) agreement with Record Resources, the Republic of Gabon, and Gabon’s national oil and gas company, Gabon Oil Company.

The Canadian oil and gas company said the production sharing contract is for the exploration, appraisal, development and production of oil and gas on Gabon offshore Block C-7, renamed Ngulu.

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Most investors never think about the chips that control the flow of electricity. For Ideal Power Inc (NASDAQ:IPWR), they are the entire story.

The Austin, Texas, company says its proprietary B-TRAN switch can do the work of several conventional devices at once, saving space, lowering costs and improving efficiency in applications from car batteries to data centers.

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Immunic Inc (NASDAQ:IMUX) announced that it has received a Notice of Allowance from the United States Patent and Trademark Office (USPTO) covering dose strengths of its lead asset, vidofludimus calcium (IMU-838), for the treatment of progressive multiple sclerosis (PMS).

The patent, tied to application 18/529,946, protects daily dosing of about 10 mg to 45 mg of vidofludimus calcium, including other salt and free acid forms, for patients with primary progressive multiple sclerosis (PPMS) and secondary progressive multiple sclerosis (SPMS).

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G Mining Ventures Corp (TSX:GMIN, OTCQX:GMINF) announced an exploration update, including what it called “significant” exploration results from its Oko West Gold Project in Guyana and its Gurupi Project in Brazil.

The mining company said it has discovered a second high-grade plunge of mineralization beyond the current pit limits to the north at Oko West in Block 1, with drill results that included 14 metres (m) of 4.38 grams per ton (g/t) gold.

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Quantum Base Holdings PLC (LSE:QUBE) shares jumped in Tuesday's trade after it expanded an agreement with its largest customer, a major international security printer, adding £250,000 of new revenue.

The deal, signed under a framework agreement, allows the customer to market and sell Quantum Base’s Q-ID technology. The expanded terms include new features and support for more devices, with the Q-ID now compatible with 170 smartphone models.

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Orosur Mining Inc (AIM:OMI, TSX-V:OMI) shares soared in Tuesday's trade after it reported latest drill results from its Pepas prospect, at the Anzá gold project in Colombia.

The company released assays from six new holes, including 47.25 metres at 15.25 g/t gold from PEP055.

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Challenger Energy Group PLC (AIM:CEG, OTCQB:BSHPF) told investors it has completed the first phase of technical work on its AREA OFF-3 licence offshore Uruguay and has now initiated a formal farm-out process.

The review identified two primary prospects, Benteveo and Amalia, which are estimated to host some 380 million barrels of recoverable oil.

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Accesso Technology Group PLC (LSE:ACSO, OTC:LOQPF) has said it remains on track to meet its full-year targets, after stronger trading over the summer helped offset a slowdown in June caused by extreme heat across key markets.

The ticketing and queuing technology specialist reported revenue of $67.9 million for the first half of 2025, down slightly from $69.2 million a year earlier.

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ANGLE PLC (AIM:AGL, OTCQX:ANPCY) has highlighted a growing pipeline of work with major pharmaceutical and medical technology groups, saying talks are advancing on a series of high-profile contracts, even as revenues remain under pressure.

The Surrey-based company, which specialises in “liquid biopsies”, blood tests that can detect and analyse cancer cells, said it had completed projects with AstraZeneca and Eisai and has further discussions underway.

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Lumos Diagnostics Holdings Ltd (ASX:LDX, OTC:LDXHF) has broadened its Australasian footprint for flagship test FebriDx®, signing a second distribution agreement covering Australia and New Zealand with YesGroup’s Amtech Medical Ltd. The rapid point-of-care test, which delivers results in around 10 minutes, helps clinicians distinguish between viral and bacterial respiratory infections, supporting more informed prescribing decisions.

The partnership builds on Lumos’ existing arrangement with Henry Schein Inc (NASDAQ:HSIC)’s Regional Health Care Group Pty Ltd, giving the company dual-channel access to the region’s healthcare market at a time of growing attention on diagnostic tools that can reduce unnecessary antibiotic use.

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Lumos Diagnostics Holdings Ltd (ASX:LDX, OTC:LDXHF) has executed definitive documentation for a secured $5 million loan facility with major shareholders Tenmile Ventures Pty Ltd and Ryder Capital Management Pty Ltd, providing additional financial flexibility as it advances its flagship FebriDx® test towards US regulatory clearance for point-of-care settings.

The facility, first outlined in July under a binding term sheet, replaces an unused tranche of a previous convertible note arrangement and will act as a working capital backstop while Lumos works to secure a Clinical Laboratory Improvement Amendments (CLIA) waiver from the US Food and Drug Administration (FDA).

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American Uranium Ltd (ASX:AMU, OTC:GTRIF) has welcomed Snow Lake Energy (NASDAQ:LITM) as a cornerstone shareholder, with the US-listed uranium developer now holding 9.9% of AMU following completion of its investment.

Snow Lake’s participation in the company’s recent placement not only provides capital backing but also strengthens ties between AMU’s flagship Lo Herma In-Situ Recovery (ISR) uranium project in Wyoming and the neighbouring Pine Ridge project, where Snow Lake is a 50/50 joint venture partner with Global Uranium and Enrichment (ASX:GUE).

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Lindian Resources Ltd (ASX:LIN, OTC:LINIF) has secured shareholder approval at its Extraordinary General Meeting (EGM) on September 8, 2025, for a A$91.5 million two-tranche placement to new institutional investors.

The placement, first announced on August 20, 2025, was strongly supported, with demand significantly exceeding the funds sought. The issue price of A$0.21 per share represents a 48% premium to the 20-day volume weighted average price (VWAP).

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