ASX 200 futures are pointing modestly higher this morning after gains on Wall Street, with gold and copper both firmer overnight. While macro headlines remain centred on tariffs and geopolitics, several small-cap names have delivered material project and funding updates.
Aurum Resources
Aurum Resources Ltd (ASX:AUE) has lifted the total Mineral Resource at its Boundiali Gold Project in Côte d’Ivoire to 3.03Moz, with Indicated Resources up 49% to 1.37Moz following infill drilling. The update takes Aurum’s combined group resource — including the Napié project — to 3.90Moz, with a Napié MRE update due this quarter.
Aurum is targeting completion of a Pre-Feasibility Study by the end of Q1 CY2026, supported by a 100,000m drill program already under way. The company reported $40.2 million in cash as of December 31, 2025.
Elixir Energy
Elixir Energy Ltd (ASX:EXR, OTC:ELXPF) has secured a debt facility of up to $10 million to fund eligible R&D costs tied to its Lorelle-3 appraisal well in the Taroom Trough. The funding is backed by an AusIndustry Advance Finding under the Federal Government’s R&D Tax Incentive, which allows up to 48.5% of eligible costs to be refunded.
The facility enables Elixir to access a portion of its expected FY26 R&D refund in advance to support working capital during drilling and testing. It carries a 1% drawdown fee and 15.75% capitalised interest rate, secured against the refund with no equity dilution.
Critical Resources
Critical Resources Ltd (ASX:CRR, FRA:9S70) has completed a desktop study at its Lammerlaw Gold Project in New Zealand, defining three priority targets ahead of expected permit transfer approval.
The review highlighted Devils Creek, Stony Creek and the TZ3–TZ4 structural boundary, citing historical gold workings and tungsten anomalies supporting an orogenic gold model. Assay results from recent RC drilling at the company’s Cap Burn project are expected in early March.
Pantoro Gold
Pantoro Gold Ltd (ASX:PNR, OTC:PNTOF, FRA:RKN) has announced an on-market share buy-back of up to 10% of issued capital over the next 12 months, following strong cash generation from its Norseman Gold Project.
The program allows for the repurchase of up to 38.3 million shares, with purchases capped at 5% above the recent volume-weighted average price. The company said it will continue to fund growth drilling and expansion initiatives alongside the buy-back.
Lumos Diagnostics
Lumos Diagnostics Holdings Ltd (ASX:LDX, OTC:LDXHF) has completed an enrolment milestone in its BARDA-funded paediatric study for FebriDx®, triggering a US$720,000 payment and taking total milestone receipts to US$1.92 million to date.
The study supports a planned expansion of FebriDx® use in the US to children aged 2–12 years, with a formal FDA submission to follow completion.
Greatland Resources
Greatland Resources Ltd (AIM:GGP, OTC:GRLGF, FRA:G8G, ASX:GGP) reported NPAT of $342.9 million and EBITDA of $560.3 million for the half year to December 31, 2025, driven by gold and copper production at Telfer. Operating cash flow totalled $658.5 million, lifting the closing cash balance to $948.3 million, debt free.
The company also completed the Havieron feasibility study during the period and secured a $500 million corporate debt commitment to support development alongside existing cash and future cash flows.