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The Markets
by Proactive
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Small cap wrap: Century Lithium, North Bay Resources, HIVE Digital Technologies…

Altech Batteries Ltd (ASX:ATC, OTC:ALTHF) has reported what it calls “outstanding” results from a full suite of destructive-safety tests on its sodium-nickel-chloride (SNC) battery technology — with the cells remaining sealed and stable under extreme fire, impact, electrical and submersion conditions.

The tests were designed to replicate the most severe field hazards that could occur during storage, transport or operation. Across every scenario — including direct fire exposure at 850°C, overcharging, ballistic impact and 2.5-hour salt-water immersion — no explosion, fire, or thermal runaway was recorded.

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China’s tightening grip on the world’s rare earth supply could mark a turning point in the global race for critical minerals, writes Frank Holmes, CEO of U.S. Global Investors (NASDAQ:GROW).

Once seen as an economic initiative, Beijing’s Belt and Road strategy is increasingly revealing its strategic edge, through sweeping new restrictions on rare earth exports that threaten to disrupt industries from electric vehicles to defense. Holmes argues that this move underscores China’s dominance in the minerals essential to modern technology and may spark a new “gold rush” as the West scrambles to secure its own supply.

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Power Metallic Mines Inc (TSX-V:PNPN, OTCQB:PNPNF) could have a large-scale deposit on its hands with the Nisk project in Quebec, at least according to analysts at Red Cloud Securities.

Analysts visited the site earlier this month and noted the complexity of the geology, but commended the company’s exploration team.

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North Bay Resources Inc. (OTC:NBRI) announced assay results from the Fran gold project in British Columbia, reporting gold grades ranging from 0.4 to greater than 2.9 ounces per ton.

The company said four samples of approximately five pounds each were collected from alternating supersacks in a 20-ton test shipment and analyzed by ALS Global in North Vancouver, BC, using the Au-AA25 fire assay method.

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Century Lithium Corp. (TSX-V:LCE, OTCQX:CYDVF) said it has begun moving its lithium extraction demonstration plant to the company’s facility at the Tonopah Airport in Nevada.

The relocation of the plant will help the company to consolidate support for the development of Angel Island, CEO Bill Willoughby told shareholders.

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HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) announced that it has surpassed 22 Exahash per second (EH/s) in global Bitcoin-mining capacity, marking 267% year-to-date growth, while accelerating the conversion of Tier-1 data centers into Tier-3 high-performance computing (HPC) facilities to expand its AI Cloud footprint in Sweden.

The multinational digital infrastructure company said its current production has reached 9.5 Bitcoin per day with fleet efficiency of about 17.8 Joules per Terahash (J/TH) and a 55% mining margin after electricity costs at $47 Hashprice, demonstrating HIVE's operational efficiency across multiple countries and nine time zones.

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Shares in Ondine Biomedical Inc (AIM:OBI, OTC:OBIMF) climbed 4% to 13p, extending their year-to-date gain to 44%, after the company reported encouraging results from its Steriwave ICU pilot study at Royal Columbian Hospital in Canada.

The study showed that Steriwave, Ondine’s non-antibiotic nasal photodisinfection treatment, significantly reduced harmful pathogens in intensive care patients.

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Greatland Resources Ltd (AIM:GGP, OTC:GRLGF, ASX:GGP) has reported a strong opening to its 2026 financial year, producing 80,890 ounces of gold and 3,366 tonnes of copper in the September quarter at an all-in sustaining cost (AISC) of $2,155 an ounce.

The company generated $284 million in operating cash flow, closing the period with $750 million in cash and no debt.

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Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF) has confirmed that its Definitive Feasibility Study (DFS) for the Phalaborwa rare earths project in South Africa remains on track for completion in 2026, a key step towards construction starting the following year.

The AIM-listed company said that once the study is finished, the final permitting process will run alongside project financing, positioning it to begin building the facility in 2027.

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Tamboran Resources Corporation (ASX:TBN, NYSE:TBN, OTC:TBNRL) has secured up to US$115 million in new funding through a public offering, a private placement and a forthcoming share purchase plan, strengthening its balance sheet as it advances the Beetaloo Basin gas development toward first production.

The company raised US$56.1 million (US$52.5 million net) from the sale of 2.67 million shares of common stock at US$21.00 per share under a US public offering, with underwriters later exercising an option to purchase an additional 348,666 shares.

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Nova Minerals Ltd (ASX:NVA, NASDAQ:NVA, OTC:NVAAF) continued to advance its dual gold and antimony strategy during the September 2025 quarter, delivering substantial operational, financial, and strategic progress across its flagship Estelle Project in Alaska. The period was marked by the completion of the 2025 drilling and surface exploration programs, significant engagement with US and Alaskan government stakeholders, and the award of US$43.4 million (A$65.5 million) in funding from the US Department of War — one of the largest recent federal investments in domestic critical minerals. Backed by a strong cash position of A$17.5 million and no debt, Nova entered the next phase of development with growing momentum, advancing both its large-scale gold resources and plans for a fully integrated antimony supply chain to strengthen US mineral independence

The quarter was marked by an active field season across the Estelle Gold Project in Alaska. Nova completed its 2025 drilling and surface exploration programs, with assays pending. Executive visits to Alaska, Washington DC, and New York built momentum with investors and policymakers, strengthening Nova’s government and community ties.

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FireFly Metals Ltd (ASX:FFM, TSX:FFM, OTC:MNXMF) has outlined what it calls a “major exploration breakthrough” at its Green Bay Copper-Gold Project in Newfoundland, Canada, reporting more exceptional assays that define an emerging 800-metre core of very high-grade mineralisation — most of it outside the current Mineral Resource.

Fresh results include 43.6 metres at 7.6% copper equivalent (CuEq) (~true thickness) in hole MUG25-214, featuring an upper volcanogenic massive sulphide (VMS) interval of 14.9 metres at 16.0% CuEq (11.5% Cu and 5.0 g/t Au). Nearby, hole MUG25-144 returned 44.5 metres at 3.7% CuEq, including 22.0 metres at 4.5% CuEq from the Footwall Zone (FWZ).

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