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The Markets
by Proactive
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Small cap wrap: OKYO Pharma, HIVE Digital Technologies, Synchronoss Technologies...

Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO, FRA:1NOR) earlier this week announced an updated February 2026 Exploration Target for the Belltopper Gold Project in Victoria, highlighting a significant expansion in the project’s conceptual gold inventory.

Executive co-chairman Mike Spreadborough said the revised target followed an in-depth review of local geology, historical production records and previous drilling, incorporating eight highly prospective reefs within the project area. The 2026 update includes the addition of a new reef and expanded strike and/or dip extensions across four reefs previously outlined in the 2024 Exploration Target.

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HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE, FRA:YO0, BVC:HIVECO) announced that its BUZZ High Performance Computing unit has signed customer agreements representing about $30 million in total contract value over two-year fixed terms, marking what the company described as progress in its artificial intelligence cloud strategy.

BUZZ, the company’s Canadian Tier-III high-performance computing data center platform, is expanding as HIVE’s AI-focused business alongside its existing Tier-I hashrate services operations. The company said the new contracts support the initial phase of BUZZ’s AI-optimized GPU deployment at its Canada West site in Manitoba.

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Immunic Inc (NASDAQ:IMUX) announced that it has priced an oversubscribed private placement expected to generate up to $400 million in gross proceeds as the biotechnology company works to transition toward commercialization of its multiple sclerosis pipeline.

Shares jumped nearly 28% on Friday morning, reaching $1.11 in New York.

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Synchronoss Technologies Inc (NASDAQ:SNCR, FRA:H6K0) has been acquired by Lumine Group, a subsidiary of Canada’s Constellation Software, marking a new chapter for the US-based communications software provider.

Lumine Group, which is backed by Constellation Software, completed the purchase of Synchronoss through one of its wholly owned subsidiaries on Friday, the companies said.

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Leadership suspensions and a boardroom departure triggered sharp sell-offs at two market minnows this week, with interim management of both businesses left with the tricky task of restoring investor confidence.

Phoenix Copper Ltd (AIM:PXC, OTCQX:PXCLF, FRA:5HR) has lost almost half its market value following the suspension of chair Marcus Edwards-Jones and chief financial officer Richard Wilkins.

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OKYO Pharma Ltd (NASDAQ:OKYO) has unveiled an underwritten public offering of around 10.8 million ordinary shares at $1.85 per share, raising gross proceeds of about $20 million.

The clinical-stage biopharmaceutical company said it intends to use the net proceeds primarily to fund the clinical development of its product candidates, as well as for general corporate purposes and working capital.

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Shares in CelLBxHealth PLC (AIM:CLBX, OTCQB:ANPCF, FRA:DWV) rose 3% to 1.08p after the company announced it would discontinue its United States Food and Drug Administration establishment licence and device listing for its Parsortix system.

The Guildford-based group, which provides circulating tumour cell intelligence tests and services to support cancer research and drug development, said the decision reflected its revised business model and customer usage patterns.

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CelLBxHealth PLC (AIM:CLBX, OTCQB:ANPCF, FRA:DWV) has decided to discontinue maintenance of its United States Food and Drug Administration establishment licence and device listing for the Parsortix system as it seeks to strengthen cost discipline and match its regulatory approach with current commercial priorities.

The Guildford-based group, which provides circulating tumour cell intelligence tests and services to support research, drug development and clinical oncology, said the decision reflected its revised business model and customer usage patterns.

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Resolution Minerals Ltd (ASX:RML, OTC:RLMLF, FRA:NC3) earlier this week outlined details of a newly defined gold discovery at its Horse Heaven project in Idaho, highlighting drilling results that point to significant scale potential and supporting an expanded exploration program in 2026.

The company said the Golden Gate discovery sits within its 100%-owned Horse Heaven gold-tungsten-silver project, which covers approximately 15,000 acres and lies immediately adjacent to Perpetua Resources’ Stibnite gold project, a fully permitted open-pit operation.

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Kairos Minerals Ltd (ASX:KAI, OTCQB:KAIFF, FRA:YAJ) earlier this week confirmed it had received the second and final $10 million payment from PLS Group Ltd under a previously announced tenement sale agreement, lifting the company’s cash balance to around $35 million.

The payment completes a $20 million transaction agreed in July 2024 relating to non-core tenements associated with the Mt York Gold Project in Western Australia. Managing Director Dr Peter Turner said the deal was significant as it strengthened the balance sheet without diluting shareholders.

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Recce Pharmaceuticals Ltd (ASX:RCE, OTC:RECEF) earlier this week confirmed it had entered a second Cooperative Research and Development Agreement with the United States Army Institute of Surgical Research to evaluate its synthetic antibiotic RECCE® 327 Gel as a treatment for infected burn wounds.

Managing director and CEO James Graham said the agreement represented a major step forward for the company’s defence-focused research efforts and marked its second CRADA with the US Army, as well as its third research program with the US Department of Defense. He said infected burn wounds remain one of the most serious medical challenges faced by frontline warfighters.

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