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The Markets
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Small cap wrap: Digi Power X, Enwave, Trust Stamp, Aftermath Silver...

Resolution Minerals Ltd has taken a significant step toward expanding its US market presence, lodging a confidential registration statement with the US Securities and Exchange Commission as it works toward a secondary listing on Nasdaq.

The company has also established a Level 1 American Depositary Receipt (ADR) facility, which is expected to go live on the OTCQB market this week, giving US investors direct access to Resolution shares in US dollars through domestic brokerage platforms.

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Pinnacle Silver and Gold Corp (TSX-V:PINN) has closed the second and final tranche of its non-brokered private placement, raising C$1.53 million and bringing the total proceeds from the offering to C$2.6 million.

Under the offering, the company issued 10.9 million units at C$0.14 per unit. Each unit consists of one common share and one-half of a share purchase warrant, with each whole warrant exercisable for one share at C$0.20 for 24 months.

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Eldorado Gold Corp (TSX:ELD) announced it has reached an agreement to acquire Foran Mining Corporation (TSX-V:FOM, OTCQX:FMCXF) in a transaction valued at approximately C$3.8 billion, including debt.

Under the terms of the agreement, Foran shareholders will receive 0.1128 Eldorado shares plus US$0.01 in cash for each Foran share, representing no premium relative to Foran’s recent closing price.

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EnWave Corp (TSX-V:ENW, OTC:NWVCF, FRA:E4U) announced that it has signed a royalty-bearing commercial license with Bowen Gumlu Grower’s Association (BGGA), a horticultural industry body representing growers and agribusinesses in North Queensland, Australia.

Under the agreement, BGGA plans to use EnWave’s Radiant Energy Vacuum (REV) dehydration technology to develop and produce tropical fruit snacks and ingredients.

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Aftermath Silver Ltd (TSX-V:AAG, OTCQX:AAGFF, FRA:FLM1) has appointed mining executive Danny Keating as chief operating officer as the Canada-listed explorer advances technical work at its Berenguela silver-copper-manganese project in Peru.

Keating, a mining engineer with three decades of experience in mine development, processing and project execution, most recently served as chief executive of TSX Venture Exchange-listed Giyani Metals. He has also held senior roles at Alufer Mining, Dynamic Mining and Australia-listed Lindian Resources, and earlier worked at Anglo American and Gold Fields. He later moved into investment banking and corporate finance roles at Collins Stewart and ABN AMRO.

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Trust Stamp Inc (NASDAQ:IDAI, ISE:AIID) provided a business update on Monday, with CEO Gareth Genner outlining recent corporate activity, product development progress, and expansion initiatives.

Genner told shareholders that the company completed a financing round in the fourth quarter of 2025 using market stock placements and a warrant inducement agreement to provide working capital for growth initiatives in 2026, including acquisitions, customer expansion, and service development.

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New Era Energy & Digital (NASDAQ:NUAI) has appointed Charles “Charlie” Nelson as president and chief operating officer, tapping a longtime board member to help steer the company from development into execution and growth.

Nelson has served since December 2024. He transitioned from independent director to executive director in July 2025 and has played a key role in New Era’s corporate transformation toward digital infrastructure, the company said.

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Meren Energy Inc (TSX:MER, OTCQX:MRNFF, FRA:AFZ0) announced on Monday that its CEO and president, Roger Tucker, has stepped down from his roles.

He has been succeeded by Oliver Quinn, the company’s chief commercial and operating officer, who has also been appointed to Meren’s board of directors.

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Digi Power X Inc (NASDAQ:DGXX, FRA:1NQ0, TSX-V:DGX) said on Monday that former Verizon Communications chairman and CEO Hans Vestberg has joined the company as a senior advisor.

Vestberg, who led Verizon’s first commercial 5G rollout in 2018, will serve on Digi Power X’s advisory board and support its expansion strategy, the company said. He brings more than three decades of experience in telecommunications networks, large-scale infrastructure and capital deployment.

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Shares in mining companies led the falls in London on Monday, as gold, silver, copper and other commodities resumed the meltdown that began last week, just a day after the metals had reached record highs.

The spot price of gold dropped to $4,649.9 an ounce, another 4.9% drop on the day, and silver slumped 7.6% to $78.18/oz.

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Ethernity Networks Ltd (AIM:ENET, OTCQB:ENETF) shares dropped 21% to 0.0044p in early trading after the company launched a heavily discounted placing and warned it may need to raise more cash later this year.

The data processing technology group is raising £367,500 by issuing over 9.1 billion new shares at 0.004p each – a 29% discount to the previous closing price.

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Zenith Energy Ltd (LSE:ZEN, TSX-V:ZEE) announced it had expanded its Italian renewables pipeline with the acquisition of a 10MWp agrivoltaic development project in Piedmont.

This takes its total solar portfolio to 120.5MWp and adds another asset in one of Italy’s more industrialised power markets.

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European Lithium Ltd (ASX:EUR, OTCQB:EULIF) has emerged from the December 2025 quarter with a sharply strengthened balance sheet, following the partial monetisation of its holding in Critical Metals Corp (CRML) and continued progress across its lithium and rare earths portfolio.

During the quarter, European Lithium sold 9.88 million CRML shares, raising gross proceeds of US$121 million (A$184.6 million). A further post-quarter sale of 5 million shares delivered an additional ~A$118 million, lifting the company’s cash balance to about A$314 million as of late January.

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Provaris Energy Ltd (ASX:PV1, OTC:GBBLF, FRA:WS90) has moved to firm up the manufacturing pathway for its large-scale liquid CO₂ (LCO₂) storage technology, announcing a new memorandum of understanding (MOU) with development partner Yinson Production and China-based manufacturer Himile Heavy Equipment Co. Ltd.

The MOU will assess the feasibility, cost and delivery timelines for fabricating Provaris’ proprietary LCO₂ tanks at Himile’s manufacturing facility in Rushan, China, running in parallel with the tank’s front-end engineering and design (FEED) program.

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FireFly Metals Ltd (ASX:FFM, TSX:FFM, OTC:MNXMF) has struck a deal to unlock value from its non-core Ontario gold portfolio, agreeing to sell the Pickle Crow and Sioux Lookout projects to Bellavista Resources Ltd in a scrip transaction valued at up to A$86.1 million.

Under the binding agreement, FireFly Metals will divest its 70% interest in the Pickle Crow Gold Project and 100% of the Sioux Lookout Project to Bellavista Resources, while retaining ongoing upside exposure through a combination of equity and performance-based consideration.

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Riversgold Ltd (ASX:RGL, FRA:RGV, OTC:RVSGF) has released a summary of activities for the quarter ended December 31, 2025, highlighting progress at its Kalgoorlie East Northern Zone Gold Project and a farm-out agreement at its Saint John copper-gold project in Canada, alongside a completed capital raise.

During the quarter, Riversgold executed a Right to Mine and Co-Operation Agreement with Western Australian Goldfields mining services provider MEGA Resources covering the Northern Zone Gold Project, located approximately 25km east of Kalgoorlie.

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Resolution Minerals Ltd (ASX:RML, OTC:RLMLF, FRA:NC3) has released its quarterly activities report for the period ended December 31, 2025, highlighting a major gold discovery from its maiden diamond drilling program at the Golden Gate North Prospect in the US.

All diamond drill holes completed at Golden Gate North during the quarter intersected significant gold mineralisation, with the prospect remaining open in all directions at quarter end.

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Cyprium Metals Ltd (ASX:CYM, OTCQB:CYPMF), a copper developer progressing the phased restart of the Nifty Copper Complex in Western Australia’s Paterson region, has completed Tranche 1 of its two-part placement to raise A$36 million (before costs).

The placement involves the proposed issue of about 69.2 million new fully paid ordinary shares at A$0.52 per share. Under Tranche 1, Cyprium issued 68,553,846 placement shares today.

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