The S&P/ASX Small Ordinaries Index (XSO) fell 30.8 points, or 0.80%, to 3,811.40 yesterday, extending a five-day decline of 1.03%.
After a busy day yesterday on the small cap news front, it's a quieter start to the day today. However, there is still plenty of good news, and you can read about the following and more throughout the day.
- Critical Resources Ltd (ASX:CRR) elevated chief executive officer Tim Wither to managing director with immediate effect, strengthening leadership as the company advances its strategy.
- Sunstone Metals Ltd (ASX:STM)’s Bramaderos gold-copper project in southern Ecuador is targeting an updated Mineral Resource Estimate (MRE) and a subsequent scoping study after completing a 1,543-metre surface sampling program at Brama-Alba. The work aims to expand the existing 2.7 million ounce gold-equivalent resource across the planned open-pit area and link Alba with the adjacent Melonal porphyry. Assay results from 773 samples are due this month.
- Legacy Minerals Holdings Ltd (ASX:LGM) initiated first-stage exploration at the Nico Young Project and signed a Memorandum of Understanding (MoU) with Cobalt Blue Holdings Ltd (ASX:COB, OTC:CBBHF). The parties will assess strategic options for cobalt and other products from Nico Young. Cobalt Blue, which owns the Broken Hill Cobalt Project, plans to develop the Kwinana Cobalt Refinery in Western Australia as a joint venture with Iwatani Australia Pty Limited (70%/30%).
- Elixir Energy Ltd (ASX:EXR, OTC:ELXPF) reported that wireline logging at the Diona-1 exploration well in ATP2077 identified three zones of net gas pay within Permian reservoirs, confirming gas charge observed in mud logs and logging-while-drilling data. Total depth was 2,479 metres.
- Altech Batteries Ltd (ASX:ATC, OTC:ALTHF) launched a A$6 million placement at A$0.045 per share, with one free attaching listed option for every two shares (exercise price A$0.065; expiry 31 October 2028). Options will be issued following a prospectus; shares are proposed for issue on 20 October 2025 under Listing Rule 7.1 capacity.