The S&P/ASX Small Ordinaries Index (ASX: XSO) closed higher on Friday, ending the session at 3,992.50, up 25.30 points or 0.64% on the day. The benchmark has added 1.09% over the past five days, reflecting broadly positive sentiment across the small-cap sector. Against this backdrop, several ASX-listed companies released updates spanning exploration, operations, corporate appointments and community initiatives. You can read about the following and more throughout the day.
Kairos Minerals
Kairos Minerals Ltd (ASX:KAI, OTCQB:KAIFF, FRA:YAJ) announced it has signed a binding sale and purchase agreement with Trek Metals Ltd to acquire 100% of the Pincunah Project, comprising four granted exploration licences covering 116.7 km² and one pending application over 51.1 km². The project adjoins Kairos’s 1.4 Moz Mt York Gold Project in Western Australia’s Pilbara. Historic drilling at the Carlindi Prospect within Pincunah returned shallow, high-grade gold intersections, including 6 metres at 9.08 grams per tonne (g/t) Au from 4 metres and 4 metres at 10.17 g/t Au from surface. Kairos said the granted licences cover the southeast extension of its Mt York landholding.
Elixir Energy
Elixir Energy Ltd (ASX:EXR, OTC:ELXPF) provided an operational update on the Lorelle-3 appraisal well in ATP2056 in Queensland’s Taroom Trough. The company has completed mobilisation of the Helmerich & Payne FlexRig 3 Rig 648 to site and has accepted the rig onto contract following rig-up and inspections. Drilling operations have commenced, with Elixir indicating it will provide further updates as the well reaches key construction and operational milestones.
Lindian Resources
Lindian Resources Ltd (ASX:LIN, OTC:LINIF) announced the launch of Project Early Learning at Kangankunde Primary School in Malawi, a community-based initiative linked to its Kangankunde Rare Earths Project. The program aims to support access to safe and inclusive early education and was formally launched during a School Open Day on January 23, 2026. The event was attended by company executives, government representatives and community leaders. Lindian said the initiative will directly benefit around 400 learners currently enrolled at the school.
Alkane Resources
Alkane Resources Ltd (ASX:ALK, OTC:ALKEF) released its quarterly activities report for the period ending December 31, 2025. The company reported site operating cash flow of $133 million for the quarter, with a further $18 million received in early January from a delayed concentrate shipment. Alkane achieved record quarterly gold production of 43,663 gold equivalent ounces at an AISC of $2,739 per ounce and said full-year production guidance of 160,000–175,000 AuEq ounces remains on track. Exploration highlights included high-grade intercepts at Storheden in Sweden and the discovery of a gold-rich domain near existing underground infrastructure at Tomingley. Gold equivalent sales totalled 44,084 ounces for revenue of $256 million, with cash, bullion and listed investments of $246 million at quarter end.
BOA Resources
BOA Resources Ltd (ASX:BOA) announced the appointment of David Reid as exploration manager, following completion of its buy-in to the Neds Creek Copper Project in Western Australia. The company said the appointment supports its transition into an active exploration phase. Reid brings more than 35 years’ experience across mining and exploration roles in Australia and internationally, including prior involvement with the Neds Creek Project.
Orthocell
Separately, the Governor-General announced appointments to the Order of Australia as part of the 2026 King’s Birthday Honours List, including Orthocell Ltd (ASX:OCC, OTC:ORHHF)co-founder Professor Minghao Zheng AM. Professor Zheng is recognised for his internationally regarded work in regenerative medicine, with a career focused on translating research into clinical applications for nerve, bone, cartilage and tendon repair.