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The Markets
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Small cap wrap: Alvopetro Energy, HIVE Digital Technologies, Digi Power X, Bit Digital...

Lindian Resources Ltd (ASX:LIN, OTC:LINIF) says construction activity at its Kangankunde Rare Earths Project in Malawi is accelerating, with the first deliveries of its owner-operator mining fleet now on site as the project transitions from early works into sustained construction and mining readiness.

The company said initial units from its Komatsu fleet have arrived from South Africa and are being inspected, assembled and commissioned, with operator training progressing in parallel. Remaining fleet deliveries are scheduled through the March quarter, supporting Lindian’s strategy to self-operate mining and retain tighter control over safety, costs and execution.

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M2i Global Inc (OTC:MTWO), along with Volato Group which is in the process of merging with the company, announced a strategic collaboration with Titanium X aimed at advancing the development of critical mineral assets and strengthening domestic supply chains in the United States.

Under the agreement, M2i Global and Titanium X will work together on the financing, development and commercialization of Titanium X’s critical mineral projects, drawing on M2i’s experience in mineral project execution and government-related financing strategies. The parties are also in discussions to finalize an exclusive supply agreement for titanium concentrate.

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Reconnaissance Energy Africa Ltd (TSX-V:RECO, OTCQX:RECAF) has upsized its earlier private placement annoucement of C$20M to C$32M to fund a broad 2026 capital program spanning Namibia, Angola and offshore Gabon.

The offering, priced at C$0.95 per unit, comprises one common share and one-half of a common share purchase warrant, with each full warrant exercisable at C$1.20 for up to 36 months. The company said it will seek approval to list the warrants on the TSX Venture Exchange.

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First Phosphate Corp. (CSE:PHOS, OTCQX:FRSPF) has earned an ‘Outperform’ rating from Noble Capital Markets analysts as the company progresses its Begin-Lamarche phosphate project from exploration toward feasibility, supported by a combination of funding initiatives and operational milestones.

The company amended an existing offtake agreement, receiving a US$0.53 million upfront prepayment during the fourth quarter of fiscal 2026. The funds are earmarked to advance the project through a feasibility study and, eventually, production.

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GameStop Corp (NYSE:GME) shares surged almost 6% on Wednesday after the videogame retailer announced a $35 billion compensation package for CEO Ryan Cohen, tied entirely to a dramatic turnaround of the struggling company.

The new pay plan, which requires shareholder approval at a special meeting expected in March or April, offers Cohen stock options to purchase over 171.5 million shares at $20.66 each.

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NextSource Materials Inc. (TSX:NEXT, OTCQB:NSRCF) announced that the first shipment of equipment for its proposed Battery Anode Facility has arrived in Abu Dhabi, marking a milestone in the company’s plans to expand downstream processing capabilities.

The company said the shipment includes long-lead anode processing equipment that had been procured in advance. Securing and delivering these components ahead of installation is intended to support project timelines and reduce potential delays as the facility moves toward construction and commissioning.

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BioHarvest Sciences Inc (NASDAQ:BHST) said its first full year as a Nasdaq-listed company was marked by revenue growth, expanding operations, and balance sheet improvements, according to a shareholder letter released on Wednesday by CEO Ilan Sobel.

In the letter, Sobel outlined operating and financial progress made in 2025 and described the company’s position entering 2026. He said BioHarvest ended the year with an annualized revenue run rate exceeding US$36 million and gross margins above 60%, following what he described as a year of execution across its direct-to-consumer products business and its contract development and manufacturing organization services unit.

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HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE, BVC:HIVECO) told investors it produced 306 Bitcoin in December, up 197% from the 103 Bitcoin produced in the previous year, despite a 40% year-over-year increase in Bitcoin mining difficulty during the month.

Production also rose 6% from November and 23% quarter-over-quarter, supported by higher hashrate and improved fleet efficiency.

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Alvopetro Energy Ltd (TSX-V:ALV, OTC:ALVOF) has reported its December 2025 sales volumes of 2,826 barrels of oil equivalent per day (boepd), based on field estimates.

The company’s fourth-quarter 2025 sales averaged 2,867 boepd, representing a 22% increase from the third quarter and marking a new quarterly record for Alvopetro.

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Bit Digital Inc (NASDAQ:BTBT) strengthened its Ethereum (ETH) treasury and staking operations in December 2025 as it continued to sharpen its focus on digital asset growth.

By the end of 2025, the company held approximately 155,227 ETH, valued at roughly $460.5 million based on a closing ETH price of $2,967.

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Digi Power X Inc (NASDAQ:DGXX, TSX-V:DGX) has taken another step toward building out large-scale artificial intelligence and high-performance computing infrastructure after signing a non-binding letter of intent with Omnis Pleasants LLC, owner of the 1.3-gigawatt Pleasants Power Station in West Virginia.

Under the proposed partnership, the companies plan to carry out a comprehensive load and interconnection study of up to 1.3GW, assessing long-term power availability and grid connectivity to support energy-intensive AI and advanced computing operations.

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Immunic Inc (NASDAQ:IMUX) said on Wednesday it is entering a pivotal phase for its lead multiple sclerosis drug as the biotech company prepares for key clinical readouts that could shape its longer-term growth strategy.

The Nasdaq-listed company said it has completed patient enrollment in two late-stage Phase 3 trials of vidofludimus calcium, an oral therapy being tested in relapsing multiple sclerosis (RMS), and expects synchronized top-line results by the end of 2026.

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Eden Research PLC (AIM:EDEN, OTCQB:EDNSF) shares climbed on Wednesday, after it revealed that French authorities have approved Mevalone, a biofungicide, for use on grapes to control downy and powdery mildew.

The company highlighted that France is one of the world’s largest markets for grape downy mildew, with more than 780,000 hectares of vines. It added that climate-driven mildew pressure, regulatory pressure on copper and synthetic chemistry and growth in organic viticulture are influencing demand across conventional fungicides and biopesticides.

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Galantas Gold Corp (AIM:GAL, TSX-V:GAL, OTCQX:GALKF) shares doubled in value in Wednesday morning's early deals, after announcing it has entered a share purchase agreement to acquire 100% of the Andacollo Oro gold project in Chile’s Coquimbo region.

The company said the agreement, signed on 6 January, is expected to be a fundamental acquisition under TSX Venture Exchange rules.

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Shares in Directa Plus PLC (AIM:DCTA, OTC:DTPKF) fell 23% to 10.44p after the AIM-listed graphene specialist flagged a sharp drop in cash and warned that fresh funding will be needed to support growth in 2026.

The company said it expects full-year revenues of €7.0 million, up modestly from €6.66 million last year, with an adjusted loss before interest, tax, depreciation and amortisation of about €2.5 million. That represents a roughly 30% improvement year on year, helped by tighter cost control and operational efficiencies.

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Greatland Resources Ltd (AIM:GGP, OTC:GRLGF, ASX:GGP) on Wednesday reported preliminary December 2025 quarter production of 86,273 ounces of gold and 3,528 tonnes of copper.

The ASX- and AIM-listed miner said this compared with 80,890 oz Au and 3,366 tonnes Cu in the September quarter, taking FY2026 H1 production to 167,163 oz Au and 6,894 tonnes Cu.

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Titan Minerals Ltd (ASX:TTM, OTC:TTTNF) has continued to expand the footprint of its Dynasty Gold Project in southern Ecuador, with extensional trenching and drilling confirming new gold and silver mineralisation a further 150 metres west along strike at the Brecha-Comanche target, part of the Cerro Verde prospect.

The newly defined mineralised zone starts from surface, remains open at depth and sits outside previously defined resource boundaries, reinforcing the scale potential of the Dynasty system ahead of a planned mineral resource update in the March quarter.

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Nova Minerals Ltd (ASX:NVA, NASDAQ:NVA, OTC:NVAAF) has flagged further potential resource upside at its RPM North gold deposit, part of its flagship Estelle Gold and Critical Minerals Project, in the prolific Tintina Gold Belt in Alaska, after the latest drilling extended mineralisation to the east and returned broad, near-surface intercepts that add to the “halo” around the high-grade core zone.

The company drilled a total of seven diamond core holes at RPM North in 2025, designed to:

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