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The Markets
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Small cap wrap: Pinnacle Silver and Gold, U.S. Global Investors, 374Water, Silver Range Resources…

As it looks to drive further into the Asian market, Orthocell Ltd (ASX:OCC, OTC:ORHHF) has appointed MontsMed as the exclusive in-country distributor for its nerve repair device Remplir™ in Hong Kong. The company expects first surgical cases and initial sales in the near term. Asia remains a key pillar of its commercial strategy, targeting a total addressable market valued at more than US$3.5 billion across selected jurisdictions.

Regulatory approval in Hong Kong positions the company to broaden its footprint via MontsMed into the Guangdong–Hong Kong–Macao Greater Bay Area, offering potential reach into a further nine cities and a combined population of about 100 million.

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Lindian Resources Ltd (ASX:LIN, OTC:LINIF) says it has received formal notice from the Government of Malawi that its subsidiary Rift Valley Resources Ltd — holder of the Kangankunde Rare Earths Project licences — is not subject to Executive Order No. 2 of 2025, issued on October 23, 2025.

According to the Mines and Minerals Regulatory Authority (MMRA), Lindian’s plan to beneficiate rare earth ore from Kangankunde into a monazite concentrate prior to export means the project will not be exporting “raw minerals.”

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U.S. Global Investors (NASDAQ:GROW) has announced a partnership with Keystone School, a private college preparatory institution, to support the school’s Model United Nations (Model UN) program.

The partnership begins with a $10,000 donation and includes a commitment of $50,000 over multiple years.

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374Water Inc (NASDAQ:SCWO) announced that it has entered into an agreement with the City of Olathe, Kansas, for the sale and deployment of an AirSCWO 6 system along with a full-scale 30 wet tons per day pre-treatment and dewatering system.

The agreement is valued at approximately $4 million over the next two years, the company said on Tuesday.

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Silver Range Resources Ltd (TSX-V:SNG, OTC:SLRRF) announced that its partner, Walker Lane Resources, has commenced an airborne geophysical survey at the Tule Canyon Property in Esmeralda County, Nevada.

Walker Lane holds an option to acquire a 100% interest in the property.

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Graphene Manufacturing Group Ltd (TSX-V:GMG, OTCQX:GMGMF) announced that Beijer Ref, one of the largest global refrigeration and HVAC wholesalers headquartered in Malmö, Sweden, has agreed to distribute GMG’s THERMAL-XR ENHANCE heat transfer coating through its Australian Beijer Ref and Kirby wholesale network.

Under the agreement, the proprietary coating will be offered as an optional solution on Beijer Ref and Kirby branded refrigeration evaporator coils, including the Beijer Patton and Kirby Guardian product lines.

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Charbone Hydrogen Corporation (TSX-V:CH, OTCQB:CHHYF) announced that civil construction work has officially started at its Sorel-Tracy site, in line with the company’s previously announced schedule.

Construction began this week, marking the start of the build phase for Charbone’s first clean Ultra High Purity (UHP) hydrogen production module in Quebec.

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Midnight Sun Mining Corp (TSX-V:MMA, OTCQB:MDNGF) has closed an upsized bought deal financing for gross proceeds of C$30.48 million, including the full exercise of the underwriters’ option.

Proceeds will be used to advance exploration at its Zambian copper projects, including its flagship Solwezi Project in the Zambia-Congo Copperbelt, as well as for working capital and general corporate purposes.

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Pinnacle Silver & Gold Corp (TSX-V:PINN, OTCQB:NRGOF) said preliminary metallurgical testing at its high-grade El Potrero gold-silver project in Mexico returned strong results, including gold recoveries of up to 96.79% and an average of 95.09%.

The company said three samples from the mineralized zone within the Pinos Cuates underground mine, one of three historic workings at El Potrero, were tested using grinding, bottle roll cyanide leach and gravity concentration methods.

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Happy Creek Minerals Ltd. (TSX-V:HPY, OTC:HPYCF) said it has completed the first tranche of its 2025 drill program at the Fox tungsten project in British Columbia’s South Cariboo district, with all holes intersecting the host rock for tungsten mineralization.

The company drilled 18 diamond core holes totaling 2,176 metres, targeting expansion of the known tungsten resource at the Ridley Creek (RC) and BN zones and testing for new mineralized horizons.

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Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) announced that its Eventdex AI Matchmaking platform has achieved milestone year-to-date (YTD) revenue growth in 2025 of $100,000, which has a 95% gross profit margin.

The AI-first technology company said it is building out its AI Event Suite, which already includes ticketing, registration, floor mapping, and blockchain-based ticketing technologies.

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Altona Rare Earths’ shares jumped 25% to 2.5p after the company reported a series of encouraging discoveries at its Monte Muambe project in Mozambique, including three new fluorspar targets and high-grade gallium mineralisation.

The AIM-listed explorer said soil sampling and drilling have revealed a strong concentration of fluorine, with 38% of 231 assays showing levels above 5,000 parts per million, equivalent to more than 10% fluorspar content.

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Shares in 80 Mile PLC (AIM:80M, OTCQB:BLLYF) rose 10% to 0.75p after the renewable fuels developer unveiled three new strategic partnerships and confirmed it will take full ownership of its Ferrandina biofuels facility in southern Italy.

The AIM-listed group signed memorandums of understanding with a Fortune 500 energy major, Italian fuel distributor Ludoil Energia, and JEnergy, securing both feedstock supply and offtake arrangements for biodiesel and sustainable aviation fuel (SAF).

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American Rare Earths Ltd (ASX:ARR, OTCQB:ARRNF) has strengthened its board with the appointment of experienced geologist Jason Beckton as non-executive director, as Hugh Keller steps down from the role after a year of service.

Beckton brings more than 30 years of global experience in exploration, development, and project management to the company, including extensive work in the rare earths sector. He has been active in critical minerals since 2012, initially in the Mt Isa region in Queensland and more recently in Finland with Prospech Ltd (ASX: PRS), where he has contributed to advancing carbonatite-hosted rare earth projects supporting Europe’s emerging supply chains.

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American Uranium Ltd (ASX:AMU, OTC:GTRIF) has reported strong progress across exploration and corporate fronts in its September quarter, highlighted by the launch of a major resource development drilling campaign at its flagship Lo Herma in situ recovery (ISR) Uranium Project in Wyoming and a A$4.5 million capital raising backed by strategic US investor Snow Lake Energy.

The company said the new drilling campaign aims to expand its 8.57-million-pound uranium resource ahead of an interim mineral resource estimate (MRE) update in early 2026, positioning American Uranium among the few near-term ISR uranium developers in the United States.

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Anteris Technologies Pty Ltd (ASX:AVR, NASDAQ:AVR) has secured binding commitments for around A$38.5 million (US$25.2 million) placement to fund recruitment and execution of its PARADIGM global pivotal trial of the DurAVR® transcatheter heart valve and to expand manufacturing capacity. Notably, the first IDE for PARADIGM was submitted to the FDA in Q1 2025 and remains under review; first country clearance obtained in Denmark; 78 sites qualified globally.

This is a two-tranche raise:

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Resolution Minerals Ltd (ASX:RML, OTC:RLMLF) has reported a broad interval of near-surface gold mineralisation from the first hole of its maiden drill program at the 100%-owned Horse Heaven gold–antimony–tungsten–silver project in Idaho, USA.

Horse Heaven lies within a US district prospective for gold, antimony, tungsten and silver, commodities that align with US government priorities to bolster domestic critical-minerals supply chains. Resolution positions the project as a potential contributor to those supply objectives, subject to further exploration, permitting and development outcomes.

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Solis Minerals Ltd (ASX:SLM, TSX-V:SLMN, OTCQB:SLMFF) has applied for 4,000 hectares of new exploration ground around its Cucho Copper Project in Peru, expanding its footprint in Peru’s prolific Coastal Copper Belt. The concessions sit next to Fortescue’s copper tenure to the north-east, in a district where Element 29 and Vale are also advancing copper projects.

Element 29’s Elida project is a large porphyry copper–molybdenum–silver system in west-central Peru, about 40 km from Cucho and near the world-class Antamina mine. Elida hosts an Inferred Resource of 321 Mt at 0.32% Cu, 0.03% Mo and 2.61 g/t Ag. It sits at a low elevation (~1,500 m) with access to roads, power and ports, and recent work has focused on growing the resource.

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Terrain Minerals Ltd (ASX:TMX, OTC:TMXAF) has pinpointed an extensive new rare earth element (REE) target zone at its 100%-owned Lort River Project, in the Albany Fraser belt near Esperance, Western Australia, after reinterpreting existing airborne electromagnetic (AEM) survey data.

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Sovereign Metals Ltd (ASX:SVM, OTC:SVMLF, AIM:SVML) says Malawi’s new executive order prohibiting exports of raw minerals will not affect its Kasiya rutile–graphite project.

Similar to Lindian Resources Ltd (ASX:LIN, OTC:LINIF)'s announcement yesterday, SVM notes the order, issued by President Peter Mutharika, targets materials that have not been processed, refined or value-added in Malawi. Sovereign says its development plans for Kasiya involve in-country beneficiation and export only of finished mineral products.

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Anteris Technologies Pty Ltd (ASX:AVR, NASDAQ:AVR) has reached a key clinical milestone, announcing that the first patients have been successfully treated in its global PARADIGM pivotal trial for the DurAVR® transcatheter heart valve (THV).

The procedures — performed at The Heart Centre at Rigshospitalet Copenhagen University Hospital in Denmark — mark the formal start of what the company describes as a landmark head-to-head study comparing its biomimetic DurAVR valve against commercially available transcatheter aortic valve replacements (TAVRs).

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