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The Markets
by Proactive
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Small cap wrap: Ocean Power Technologies, TNR Gold, Trust Stamp, Century Lithium…

Ideal Power Inc (NASDAQ:IPWR, FRA:5ILA) announced it has commenced an underwritten public offering of its common stock, subject to market conditions.

The company said it intends to use the net proceeds primarily to advance commercialization of its B-TRAN technology. Planned uses include supporting customer design-ins, funding custom development programs, and initiating production ramp-up with strategic partners.

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Wedbush reiterated its bullish stance on IMAX Corp (NYSE:IMAX), maintaining an ‘Outperform’ rating and a $46 price target ahead of the company’s fourth-quarter results, citing continued market share gains and a favorable content pipeline.

Shares of IMAX traded hands at about $37 on Monday afternoon, up almost 40% in the last 12 months.

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AMC Entertainment Holdings (NYSE:AMC) reported fourth quarter results that slightly exceeded revenue expectations and showed a narrower loss than analysts had projected.

For the three months ended December 31, AMC’s total revenue fell 1.4% year-over-year to $1.29 billion, above the average analyst estimate of $1.27 billion.

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OKYO Pharma Ltd (NASDAQ:OKYO), a clinical-stage biopharmaceutical company developing therapies for neuropathic corneal pain (NCP) and inflammatory eye diseases, announced that its abstract has been accepted for presentation at the Association for Research in Vision and Ophthalmology (ARVO) 2026 Annual Meeting, scheduled for May 3 to 7 in Denver, Colorado.

Chief scientific officer Dr Raj Patil is set to present the findings from OKYO’s Phase 2a proof-of-concept clinical trial of urcosimod, a preservative-free eye-drop therapy with dual pain-relieving and anti-inflammatory activity for NCP.

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Trust Stamp Inc (NASDAQ:IDAI, ISE:AIID), a provider of AI-driven identity and security solutions, announced a partnership with IDetect, a provider of ID scanning and entrance security solutions, to give the company access to the American Association of Motor Vehicle Administrators (AAMVA) Driver’s License Data Verification (DLDV) service.

The integration enables IDetect’s customers to verify driver’s license information against official issuing agency records in real time. Traditional ID scanners typically validate security features on the physical card, while the AAMVA DLDV adds a layer of verification by confirming that the information exists in the DMV database.

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TNR Gold Corp (TSX-V:TNR, FRA:TNW, OTC:TRRXF) has welcomed the news that Ganfeng Lithium’s subsidiary Litio Minera Argentina S.A. has completed the first export of lithium chloride from the Mariana Lithium Project in Argentina, on which TNR holds a 1.5% net smelter return (NSR) royalty.

According to the update, Litio Minera Argentina shipped 10 containers of lithium chloride from its final processing plant in General Güemes, Salta Province. Each container carried 24 tonnes, for a total shipment of 240 tonnes. Customs verification was conducted at the processing facility.

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Ocean Power Technologies Inc (NYSE-A:OPTT) has provided an operational update outlining recent deployments and development milestones related to its offshore autonomy infrastructure roadmap.

The company said it has shipped a WAM-V autonomous surface vehicle to Greece to support ongoing customer operations and field activity in the region.

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Century Lithium Corp. (TSX-V:LCE, OTCQX:CYDVF) has released the results of an updated National Instrument 43-101 compliant feasibility study for its wholly owned Angel Island lithium project in Esmeralda County, Nevada.

The 2026 Feasibility Study incorporates additional metallurgical testing, engineering optimization, refinements to the mine plan, and updated capital and operating cost estimates.

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U.S. Global Investors (NASDAQ:GROW) has reported its financial results for the second quarter of fiscal 2026, which ended on December 31, 2025, highlighting an increase in assets under management and improved operating performance.

Total assets under management (AUM) were approximately $1.5 billion at quarter-end, representing a 12% increase from the prior quarter and a 5% rise from the same period a year earlier. The company said AUM had climbed further to $1.7 billion as of February 19, 2026.

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Chariot Ltd (AIM:CHAR, OTC:OIGLF) said South African renewable electricity trader Etana Energy has secured a further 150MW of sole offtake from the Orkney 219MW solar PV project, as the development reached financial close.

Orkney, in South Africa’s North-West province, is being built by Mulilo and financed by Mulilo plus a consortium of South African financial institutions. Once operational, the project is expected to export 150MW and generate around 478GWh a year, with power wheeled through national and municipal distribution networks to Etana’s customers.

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TomCo Energy PLC (AIM:TOM, OTC:TMCGF) shares dropped 35% on Monday, falling to 0.035p, impacted by expected new equity dilution, after it announced a renewed partnership with Valkor that leaves the pair jointly controlling Greenfield Energy on a 50:50 basis, as the AIM-listed group looks to progress oil-sands opportunities in Utah’s Uinta Basin.

The reset comes with balance-sheet engineering. Valkor agreed to amend Greenfield’s long-standing loan facility and settle about half of the amended $799,500 balance through equity in TomCo, taking 290.5 million new shares at 0.1p.

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Allergy Therapeutics PLC (AIM:AGY, OTC:AGYTF, FRA:HHU) has put fresh debt funding in place after agreeing a new £40m committed senior secured term loan from Hayfin, designed to replace the £20m uncommitted incremental option embedded in its 2024 financing package.

The AIM-listed allergy immunotherapy group said it intends to fully draw the new facility, which it expects will provide working capital for at least the next 12 months, giving it breathing room to pursue a potential Hong Kong Stock Exchange listing and support growth following the Grassmuno launch in Germany.

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Atlantic Lithium Ltd (AIM:ALL, ASX:A11, OTCID:ALLIF) said it has ended exclusive discussions over a potential change-of-control deal, opting to wait for what it sees as a key de-risking catalyst in Ghana, ratification of the Mining Lease for its Ewoyaa Lithium Project.

The AIM- and ASX-listed developer noted that it had received a conditional, non-binding indicative proposal to acquire 100% of the company via a scheme of arrangement.

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HeLIX Exploration PLC (AIM:HEX, OTCQB:HHEXF) has started producing helium gas at its Rudyard project in northern Montana, saying the move makes it the first helium gas producer in the state.

The AIM-listed group said helium is now being processed from three initial production wells through its PSA plant, with capacity expected to scale up over the coming months as operations are stabilised.

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Copper rarely commands the same headlines as lithium, rare earths or even gold. It isn’t marketed as “critical” in quite the same way, nor does it benefit from the policy spotlight that has propelled battery metals over the past decade.

Yet without copper, none of it works.

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Lumos Diagnostics Holdings Ltd (ASX:LDX, OTC:LDXHF) has secured a further US$720,000 in non-dilutive funding after completing a key enrolment milestone in its ongoing US paediatric clinical study for FebriDx®, backed by the United States’ Biomedical Advanced Research and Development Authority (BARDA).

The milestone — the sixth contemplated under the BARDA partnership — relates to the total number of patients enrolled to date in the BARDA-funded study. Its completion lifts total milestone payments received under the contract to US$1,920,000.

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Greatland Resources Ltd (AIM:GGP, OTC:GRLGF, FRA:G8G, ASX:GGP) has delivered a $342.9 million net profit after tax for the six months to December 31, 2025, underscoring the cash-generating strength of its Telfer gold-copper operation as it advances the Havieron Project in Western Australia’s Paterson Province.

The dual-listed gold and copper producer reported underlying earnings (EBITDA) of $560.3 million and net revenue of $977.3 million for the half, supported by strong commodity prices and full exposure to upside in the gold market.

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