S&P/ASX Small Ordinaries (ASX: XSO) has eased 32.10 points, or 0.85%, to 3,751.80 in the first half hour of trade, but has remained up 107.10 points (2.94%) over the past five trading days.
Against that backdrop, several small-cap names delivered company-specific updates spanning exploration, processing testwork and commercial orders. You can read about the following and more throughout the day.
Novo Resources
Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO, FRA:1NOR) has materially increased the Exploration Target at its Belltopper Gold Project in Victoria following a detailed review and assessment, with preliminary planning now underway for potential drilling in H2 2026 to build confidence in the updated 2026 target.
International Graphite
International Graphite Ltd (ASX:IG6, FRA:H99) says pilot-scale purification testwork has exceeded target specifications for producing high-quality expandable graphite. The work is being completed by ALKEEMIA S.p.A (ALKEEMIA) in specialist graphite laboratories at its Port Marghera operations near Venice.
Yandal Resources
Yandal Resources Ltd (ASX:YRL) has provided an exploration update from the Arrakis Prospect within its Ironstone Well–Barwidgee Gold Project, after completing a 17-hole, 3,800 m reverse circulation program in mid-December on 200 m-spaced infill lines. The company reports assays are now in for all 17 holes, outlining what it describes as a mineralised system with relatively simple, predictable geometry, with higher-grade zones recurring consistently along strike and down dip, and results supporting continuity along strike. Yandal also flagged potential for shallow oxide mineralisation immediately below unmineralised transported cover.
Janus Electric
Janus Electric Holdings Ltd (ASX:JNS) has received further orders in California for its heavy-vehicle electrification system via Electric Vehicle Choice (EVC), its authorised dealer in the state, as it continues to build out its US commercial footprint.