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The Markets
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Archive

Small cap wrap: Millennial Potash, Power Metallic Mines, Replenish Nutrients, 1911 Gold…

Elixir Energy Ltd (ASX:EXR, OTC:ELXPF) has reported initial results from wireline logging and an expanded evaluation campaign at its Lorelle-3 pilot well in ATP 2056 in Queensland’s Taroom Trough.

The program confirmed multiple hydrocarbon-bearing intervals across the Permian section, with a total of 148 metres of net pay identified across four reservoirs.

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Percheron Therapeutics Ltd (ASX:PER, OTC:PERCF) has secured acceptance of an abstract for presentation at the American Association for Cancer Research (AACR) Annual Meeting, scheduled for April 17–22, 2026, in San Diego, California.

The abstract focuses on results from its recently completed Phase 1 study of HMBD-002 in patients with advanced cancer, with full results to be disclosed at the meeting in line with AACR embargo rules.

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Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF, FRA:1SS) has reported fiscal third quarter results showing solid revenue growth and improved profitability metrics, as the company pointed to increasing adoption of its AI-driven event technology platform.

For the three months ended December 31, 2025, revenue rose 59% year over year to $468,000, up from $294,000 in the same period last year.

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Nano One Materials Corp (TSX:NANO, FRA:LBMB, OTC:NNOMF) has revealed its plans to advance toward commercial production of lithium iron phosphate (LFP) cathode materials, targeting initial revenue by the end of 2026 while expanding its technology licensing business globally.

The Vancouver-based process technology company said demand for its One-Pot LFP technology is growing across defence, energy storage systems (ESS), and electric vehicle (EV) markets. Its demonstration plant in Candiac, Québec, plays a central role in its commercialization strategy, enabling customer qualification, product sampling, and development work in preparation for larger-scale production.

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Millennial Potash Corp (TSX-V:MLP, OTCQB:MLPNF, FRA:XOD) announced that it has ranked third overall on the 2026 TSX Venture 50 list of top-performing companies.

The TSX Venture 50 is an annual ranking of the top 50 companies on the TSX Venture Exchange based on three equally weighted criteria: market capitalization growth, share price appreciation and trading value. The list highlights the top performers among more than 1,600 TSXV issuers.

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Peel Hunt said Pan African Resources PLC (LSE:PAF, OTCQX:PAFRY, JSE:PAN) maiden interim dividend came in “a little better than expected”, even as higher costs at the Barberton complex weighed on first-half EBITDA.

The broker reiterated its 'Buy' rating and 180p target after the gold producer reported US$487m of revenue for the period, broadly in line with Peel Hunt’s model. The pinch point was operating performance: EBITDA of US$245m fell short of Peel Hunt’s US$259m expectation, which the analyst attributed to “higher cash costs, particularly at the Barberton complex”.

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Power Metallic Mines Inc (TSX-V:PNPN, FRA:IVV1, OTCQB:PNPNF) has reported assay results from its summer-fall 2025 drill program at the Lion Zone on its polymetallic Nisk Project in Quebec, highlighting multiple high-grade copper equivalent intersections.

The company said drilling aimed at extending mineralization down plunge and infilling the deposit to support a future mineral resource estimate (MRE) continues to define the geometry and grade of the Lion Zone.

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1911 Gold Corp (TSX-V:AUMB, OTCQB:AUMBF, FRA:2KY) said it has been named a 2026 Top 50 Company by the TSX Venture Exchange, ranking fourth overall after posting sharp gains in 2025.

The company, which trades on the TSXV under the symbol AUMB, said its share price rose 468% last year, while its market capitalization increased 1,026%, earning it a spot on the 2026 TSX Venture 50 list.

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Replenish Nutrients Holding Corp (CSE:ERTH, OTC:VVIVF, FRA:7KE) announced it has upsized its previously disclosed non-brokered private placement to gross proceeds of up to $4.2 million from $3 million, citing additional investor demand, and has closed the first tranche of the offering.

The company reported first tranche gross cash proceeds of approximately $919,000 and said it also settled about $125,000 in debt owed to certain trade creditors.

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After Seeing Machines Ltd said first-half revenue is expected to fall 7.5% year on year, broker Stifel said the decline in non-recurring engineering income “doesn't make good headlines” but signals that the “harvest season has arrived”.

Stifel reiterated its 10.5p target price and said investors should “make the most of the current weakness”.

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Petro Matad Limited (AIM:MATD, OTC:PRTDF, FRA:HA3) shares jumped 18% in Wednesday's early deals, rising to 1.21p, after the small cap told investors that PetroChina has paid US$1.03 million of revenue that was withheld against the company’s 2025 production invoices, clearing a key uncertainty as the parties work to update their sales arrangements for 2026.

The AIM-quoted Mongolia-focused oil producer said discussions with PetroChina on the Oil Sales Agreement have now been completed.

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Pan African Resources PLC (LSE:PAF, OTCQX:PAFRY, JSE:PAN) delivered a record first-half profit of US$147.8 million as a sharp rise in output and a higher realised gold price pushed revenue up 157.3% to US$487.1 million for the six months to December 2025.

Chief executive Cobus Loots told investors that Pan African's operational and financial performance, together with the boon of record gold prices, has positioned the miner "deliver outstanding results for the full year" - and, that it had allowed it to "degrease" the balance sheet and boost returns to shareholders.

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Anglo Asian Mining Plc (LSE:AAZ, OTC:AGXKF, FRA:A4A) has guided to a sharp ramp-up in 2026 that would see copper become the company’s main product, with output targeted at 20,000 to 25,000 tonnes versus 7,915 tonnes produced in 2025.

The AIM-listed Azerbaijan-focused miner said the increase is expected to be driven by growing contributions from the Gilar and Demirli mines, both of which commenced production in 2025, marking 2026 as the group’s first full year as a multi-asset producer.

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Greatland Resources Ltd (AIM:GGP, OTC:GRLGF, FRA:G8G, ASX:GGP) has announced the resignation of chief operating officer Simon Tyrrell, with the executive stepping down from the role as the company begins a formal process to recruit a permanent successor.

Tyrrell will remain available to Greatland until 30 June 2026 to support the transition, the miner said.

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Seeing Machines Ltd (AIM:SEE, OTC:SEEMF, FRA:M2Z), the AIM-listed computer vision technology company, said it expected automotive production volumes to “increase materially” in the coming quarters as the EU’s General Safety Regulation deadline approaches.

In the update, it also forecast positive adjusted earnings before interest, tax, depreciation and amortisation in the third quarter and the second half of its financial year.

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AFC Energy PLC (AIM:AFC, OTC:AFGYF, FRA:QC8) said the UK Environment Agency has revised its research and development permit to allow the export and sale of low-carbon hydrogen produced at the company’s pilot ammonia cracking plant, a move it said would accelerate revenue generation by “a number of months”.

AFC said the revised permit will allow it to sell hydrogen from its Dunsfold facility to hydrogen off-takers.

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Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO, FRA:1NOR) is tightening its focus around a diversified Australian gold and copper portfolio tapping into multiple Tier-1 jurisdictions, with a materially upgraded exploration target now anchoring its Victorian flagship.

The strategy centres on advancing a multi-district, diversified portfolio spanning Western Australia, New South Wales and Victoria, alongside a dividend-paying strategic investment.

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AuMEGA Metals Ltd (ASX:AAM, TSX:AUM, OTCQB:AUMMF, FRA:FRA: MA30) has amended and upsized its institutional financing to about C$30.1 million, with the company flagging the funds will extend its runway and underpin a larger exploration push in Newfoundland, Canada.

The raise is anchored by Condire Investors, LLC, a US-based resources investor that is expected to emerge with around 19.9% of AuMEGA on a non-diluted basis once the placement completes. AuMEGA said the warrants issued to Condire include a “blocker” that prevents exercise if it would take the investor to 20% or more.

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European Lithium Ltd (ASX:EUR, OTCQB:EULIF) has highlighted encouraging resampling results from the Hill Zone Deposit at the Tanbreez rare earths project in Greenland, with Critical Metals Corp (Nasdaq: CRML), in which it holds a 37.5% stake, reporting consistent total rare earth oxide plus yttrium (TREO+Y) grades across 33 historical drill holes.

The results stem from a comprehensive resampling program of 2010 diamond drilling at the Hill Zone, forming part of an ongoing quality assurance and quality control (QA/QC) review and data gap analysis. While the announcement does not alter the existing mineral resource estimate, it is designed to validate and expand the project’s elemental dataset ahead of further drilling in 2026.

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Orthocell Ltd (ASX:OCC, OTC:ORHHF) has confirmed it received a $3.0 million refund under the Australian Federal Government’s Research and Development (R&D) Tax Incentive for the financial year ended June 30, 2025.

The refund is a non-dilutive boost to cash reserves, taking Orthocell’s cash balance to $49.6 million following receipt.

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St George Mining Ltd (ASX:SGQ, FRA:S0G, OTC:SGQMF) has delivered its thickest intercept to date at the Araxá Rare Earths and Niobium Project in Brazil, as ongoing drilling continues to expand the footprint of high-grade mineralisation beyond the current resource model.

The standout result from diamond hole AXDD055 returned 164.45 metres from surface grading 2.93% total rare earth oxides (TREO) and 0.39% Nb₂O₅, including 62 metres at 5.15% TREO and 0.66% Nb₂O₅ from 22 metres, and 15 metres at 8.78% TREO and 1.18% Nb₂O₅ from 55 metres.

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