The S&P/ASX Small Ordinaries Index closed at 3,683.70, rising 28.00 points, or 0.77%, in the previous session and edging 0.70 points higher, a gain of 0.02%, over the past five days. While we thought the newsflow would be slowing down by now, there’s plenty to read through this morning. You can read about the following and more throughout the day.
Antipa Minerals
Antipa Minerals Ltd (ASX:AZY) has updated the Mineral Resource Estimate for its 100%-owned Minyari Project in Western Australia’s Paterson Province. The MRE now totals 2.7 Moz of gold, an increase of 163,000 oz, and also includes 90,000 t copper, 700,000 oz silver and 13,000 t cobalt. The combined inventory equates to 3.3 Moz gold equivalent. Antipa said the update lifts scale and confidence in Minyari as a standalone development opportunity, building on outcomes from the October 2024 scoping study, and noted it remains funded to progress pre-feasibility and technical de-risking.
Buru Energy
Buru Energy Ltd (ASX:BRU, OTC:BRNGF) provided an update on its 100%-owned Rafael Gas Project in WA’s onshore Canning Basin (EP 428), with the company continuing its shift from explorer to producer. Buru is targeting completion of a global funding process in Q1 2026, enabling commitments to long-lead items for a 2026 resource and flowrate validation drilling program. The project schedule is targeting FID in H2 2026 and potential first long-term cashflows from 2028.
FireFly Metals
FireFly Metals Ltd (ASX:FFM, TSX:FFM, OTC:MNXMF) has completed the equity raising announced on 2 and 4 December 2025, comprising:
- A$85.0 million institutional placement at A$1.70/share (completed 12 December 2025)
- C$34.5 million Canadian bought deal at C$1.56/share (completed 17 December 2025)
- ~A$16.4 million (C$15.0 million) charity flow-through placement priced at ~A$2.09/share (completed 11 December 2025)
Gross proceeds total ~A$139 million (~C$127.3 million) before costs. The company reported a pro-forma cash balance of A$236.9 million before transaction costs.
International Graphite
International Graphite Ltd (ASX:IG6) has received Development Approval for its proposed downstream graphite processing facility in Collie, Western Australia, describing the approval as another step toward establishing an integrated WA graphite production capability.
Ora Banda Mining
Ora Banda Mining Ltd (ASX:OBM, OTC:ESGFF) reported further drill results from the northern corridor between Sand King and the historically mined Palmerston shallow open pit, citing continued scale and growth potential.
The company said drilling is progressing from surface and underground, with 43 surface RC and diamond holes completed to date outside the current life-of-mine plan.
Assays have been received for 16 of those holes, with intercepts including 16.6 m @ 8.3 g/t, 6.0 m @ 16.9 g/t and 12 m @ 6.4 g/t.
Underground, 57 resource extension holes have been drilled, with assays received for 15 holes including 6.7 m @ 39.3 g/t, 7.0 m @ 10.7 g/t and 10.5 m @ 6.2 g/t. The company also reported 7 surface holes in the southern corridor confirming and extending mineralisation, including 6.0 m @ 23.3 g/t, 4.0 m @ 6.5 g/t and 2.0 m @ 10.0 g/t.
St George Mining
St George Mining Ltd (ASX:SGQ) reported additional diamond drilling results from its 100%-owned Araxá Rare Earths and Niobium Projectin Minas Gerais, Brazil, including what it described as the thickest intersection to date of high-grade mineralisation from AXDD004.
The company said ongoing drilling has potential to add high-grade mineralisation within and outside the footprint of the existing resource and could support a material expansion of the Araxá MRE. St George also said Araxá mineralisation continues to be rich in magnet rare earths, with a NdPr:TREO ratio around 20%, consistent with the existing MRE.
Resource Minerals International
Resource Minerals International Ltd (ASX:RMI) has received firm commitments for a placement to raise $1 million (before costs) via the issue of 40,000,000 shares at $0.025/share. The placement price represents a 10.7% discount to the last traded price of $0.028 prior to the trading halt on 16 December 2025.
Orthocell
Orthocell Ltd (ASX:OCC, OTC:ORHHF) reported it has achieved 100 Remplir™ unit sales in the United States, which it described as a milestone in the commercial rollout of its nerve repair product. The company referenced a US$1.6 billion total addressable US nerve repair market and said the milestone reflects growing clinical use of Remplir in complex peripheral nerve procedures.