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The Markets
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Small cap wrap: Digi Power X, Liberty Star Minerals, 374Water, Pinnacle Silver and Gold…

Liberty Star Uranium & Metals Corp. (OTCQB:LBSR) (dba Liberty Star Minerals) said on Tuesday it has successfully completed induced polarization and resistivity testing over known gold-bearing veins at its wholly owned Red Rock Canyon gold project.

The geophysical survey, conducted in July 2025, successfully detected and characterized gold-bearing veins, confirming that electrical geophysics can effectively map subsurface mineralization, the company said.

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374Water Inc (NASDAQ:SCWO) announced it has completed a commercial-scale field demonstration at Clean Earth’s Detroit, Michigan facility as part of a Department of Defense (DoD) project focused on destroying per- and polyfluoroalkyl substances (PFAS)-contaminated wastes.

The project is part of a DoD initiative led by the Defense Innovation Unit (DIU) in collaboration with the Environmental Security Technology Certification Program to evaluate commercial-scale technology solutions for PFAS destruction.

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Pinnacle Silver & Gold Corp (TSX-V:PINN, OTCQB:NRGOF) has appointed veteran mining engineer Carlos Castro Villalobos as project manager for its high-grade El Potrero gold-silver project in Mexico, as the company advances toward potential production.

Castro, a mining engineer with more than 45 years of experience, has previously held senior roles at Peñoles, Luismin, Great Panther, and First Majestic. He also oversaw the construction of a 300-tonne-per-day processing plant for Rochester Resources, a background Pinnacle said will be particularly relevant at El Potrero.

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Digi Power X Inc (NASDAQ:DGXX, TSX-V:DGX) reported that it is expanding its artificial intelligence (AI) data center capacity with the addition of five new ARMS-200 GPU modules, scheduled to come online at its Alabama facility in March 2026.

The energy infrastructure company said that, once deployed, the expansion will bring Digi Power X’s total GPU capacity to 2,304 high-performance GPUs, further accelerating the company’s growth as an independent provider of GPU-as-a-Service (HPC and AI) infrastructure for artificial intelligence, cloud and blockchain workloads in North America.

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atai Life Sciences (NASDAQ:ATAI, ETR:9VC) announced the completion of a $149.5 million public offering of approximately 27 million common shares, including the full exercise of underwriters’ option to purchase an additional 3.6 million shares at $5.48 per share.

The financing included participation from both new and existing investors, such as Janus Henderson Investors, Foresite Capital, Deep Track Capital, HBM Partners, Ferring Ventures, Columbia Threadneedle Investments, Ally Bridge Group, Woodline Partners LP, and ADAR1 Capital Management.

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HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) has signed an agreement to develop an additional 100-megawatt (MW) hydroelectric-powered data center campus at its Yguazú site in Paraguay.

The new development, referred to as Phase 3, will lift HIVE’s total renewable capacity in Paraguay to 400 MW, powered entirely by hydroelectric energy from the Itaipú Dam.

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Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) has launched a blockchain ticketing platform powered by the Ethereum network, with wallet integration for Coinbase and MetaMask.

The company said the launch advances its blockchain roadmap ahead of schedule. Nextech3D.ai’s two-phase blockchain strategy originally included a custodial wallet solution planned for the fourth quarter of 2025 and a self-custody personal wallet expected in early 2026.

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First Phosphate Corp. (CSE:PHOS, OTCQX:FRSPF) announced that it will undertake a 30,000-metre (m) accelerated drill program at its Bégin-Lamarche property in Quebec, beginning this month.

The mineral development and cleantech company said the drill program is expected to build on the company's initial resource estimate and confirm the final geological model for the property.

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Argo Blockchain PLC (LSE:ARB, OTCQX:ARBKF, NASDAQ:ARBK) shares shed more than 40% in Tuesday's opening trades after the small-cap cypto miner announced a plan to leave London, delisting from the stock exchange, whilst retaining its Nasdaq listing.

The delisting is expected to take effect on 9 December.

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Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL) has reported third-quarter gold production of 19,106 ounces from its Blanket Mine in Zimbabwe, slightly higher than the 18,992 ounces produced in the same period last year.

Output for the first nine months of 2025 reached 58,846 ounces, up from 56,815 ounces a year ago.

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Ilika PLC (AIM:IKA, OTCQX:ILIKF) has completed commissioning of its automated Goliath solid-state battery (SSB) pilot line, marking a key milestone toward commercialisation of its large-format battery technology.

The 1.5MWh facility is now fully operational, enabling production of consistent, high-yield cells for customer validation and testing programmes.

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Cobalt Blue Holdings Ltd (ASX:COB, OTC:CBBHF) will host a live online investor webinar this Thursday, October 23, at 2.00pm AEDT. CEO Dr Andrew Tong and investor relations and commercial manager Joel Crane will present on “Reshaping the Cobalt Supply Chain”, outlining how the company plans to establish a secure, non-Chinese cobalt supply network amid shifting global market dynamics.

The presentation will highlight a cobalt market in structural transition following the Democratic Republic of Congo’s export restrictions, with prices now near three-year highs and demand from battery and industrial sectors forecast to grow around 5% annually through 2030.

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Investors returned to DroneShield Ltd (ASX:DRO, OTC:DRSHF) on Tuesday, ending a seven-session slide in one of the ASX’s standout performers this year. The defence stock was up 10.6% at 1:30pm to $4.94, taking its year-to-date gain past 500% as governments ramp up spending on counter-drone capabilities.

Morgan Stanley broker data this week showed DroneShield among the most sought-after stocks by retail investors on a dollar-turnover basis, alongside lithium names Pilbara Minerals and Mineral Resources and buy now, pay later group Zip.

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Riversgold Ltd (ASX:RGL, OTC:RVSGF) has restarted drilling at its Northern Zone Gold Project, about 25 kilometres east of the Kalgoorlie Super Pit in Western Australia. A grade-control rig is on site, with the initial program targeting shallow, previously undrilled ground (approximately 30–60 metres' depth) between the western and eastern mineralised zones.

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Solis Minerals Ltd (ASX:SLM, TSX-V:SLMN, OTCQB:SLMFF) has entered into a binding agreement to acquire up to a 100% interest in the Cucho Copper Project in Peru’s Ancash Department, through a staged earn-in arrangement with an option to move to full ownership.

Cucho is just 40 kilometres from Element 29 Resources’ Elida Project, which hosts an inferred resource of 321 million tonnes at 0.32% copper, 0.03% molybdenum and 2.61 g/t silver. Element 29 currently holds a market capitalisation of around C$157 million. It is also around 120 kilometres from the world-class Antamina operation.

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