The S&P/ASX Small Ordinaries Index (XSO) closed at 3,691.60 yesterday, up 4.60 points or 0.12% on the day and 127.20 points, or 3.57%, over the past five sessions.
Against this firmer small-cap backdrop, several companies have released updates. You can read about the following and more throughout the day.
Terrain Minerals
Terrain Minerals Ltd (ASX:TMX, OTC:TMXAF) has kicked off reverse circulation drilling at the Lightning prospect, part of its 100%-owned Smokebush Project, about 350 kilometres north of Perth in Western Australia. Once the Lightning program is completed, the drill crew will move on to test the Wildflower targets within the same project area.
Asian Battery Metals
Asian Battery Metals PLC (ASX:AZ9) reported assay results from due diligence drilling at the Maikhan Uul (Red Hill) copper-gold VMS project. The key MU2501 drillhole returned strongly mineralised massive sulphide intervals, including 14.5 metres at 2.23% copper and 0.73 g/t gold from 132.5 metres, with higher-grade sub-intervals of 4.8 metres at 2.80% copper and 0.88 g/t gold and 6.3 metres at 2.58% copper and 0.82 g/t gold.
Altech Batteries
Altech Batteries Ltd (ASX:ATC, OTC:ALTHF) announced that its board is preparing for significant changes to its composition and management after an approach from major shareholder Altech Advanced Materials AG, which holds 20% and, together with the Deutsche Balaton Group, a combined 28% stake. The shareholder group has signalled its intention to lodge a notice under section 249D of the Corporations Act to convene a general meeting at which resolutions will be put to shareholders to replace and reduce the current board.
Aurum Resources
Aurum Resources Ltd (ASX:AUE) disclosed it has sold 2,887,496 ordinary shares in Montage Gold at an average price of C$7.30 per share, generating gross proceeds of about C$21.08 million (~A$22.98 million). The Montage shares had originally been issued to Aurum at C$3.61 per share in lieu of cash as part of Montage’s 9.9% strategic investment announced on 7 May 2025, with the sale crystallising a 102% gain on that reference price. Following the transaction, Aurum reports it now holds approximately A$40 million in cash to fund ongoing work at its Boundiali and Napié gold projects in Côte d’Ivoire.