The S&P/ASX Small Ordinaries (XSO) closed at 3,682.90, down 11.90 points (0.32%) yesterday but up 20.50 points (0.56%) over the past five days, reflecting modest short-term volatility across Australia’s small-cap sector.
Against this backdrop, several ASX small-cap companies delivered operational and financial updates across energy, resources, healthcare and education. You can read about the following and more throughout the day.
D3 Energy
D3 Energy Ltd (ASX:D3E, OTCQB:DNRGF) confirmed that three Exploration Right applications in South Africa’s Free State Province have been formally accepted by Petroleum Agency SA (PASA). The applications, lodged under Section 79 of the Mineral and Petroleum Resources Development Act, cover petroleum and gas exploration, including helium-bearing potential identified through regional subsurface analysis.
Alkane Resources
Alkane Resources Ltd (ASX:ALK, OTC:ALKEF) reported further exploration success at its Tomingley Gold Operations in NSW, focused on underground resource expansion at Roswell and near-mine prospects. Roswell underground resources (1.3g/t Au cut-off) are estimated at 5.5Mt at 2.6g/t Au for 476,000oz. Drilling extended a previous hole to 1,392m, intersecting a seismic reflector around 400m below current resources, identified as gold-arsenic enriched hydrothermal breccias and veining. Underground drilling has confirmed multiple high-grade gold zones within the Western Monzodiorite domain, while additional drilling at El Paso and Westray intersected quartz veining with gold-arsenic mineralisation.
Orthocell
Orthocell Ltd (ASX:OCC, OTC:ORHHF) delivered record half-year revenue for the six months to 31 December 2025, reporting $6.2m, up 48% on the prior corresponding period. The company achieved two consecutive record quarters ($3.0m in Q1 and $3.2min Q2), reflecting continued uptake of its Striate+™ and Remplir products among surgeons.
Janison Education Group
Janison Education Group Ltd (ASX:JAN) posted half-year revenue of $23.1m, up 2% on the prior corresponding period, with gross margin improving to 58%. Operating EBITDA came in at $1.3m, while operating cash flow rose to $3.8m, up $2.7m year-on-year. The company ended the period with $13.3m in cash and secured a five-year national contract with New Zealand’s Ministry of Education valued at approximately $21m, alongside additional state-based contract wins. Its customer pipeline stood at $26m at 31 December 2025.
West Coast Silver
West Coast Silver (ASX: WCE) reported assay results from a 76-hole, 1,060m aircore drilling program completed in December 2025 at the Elizabeth Hill Joint Venture Project (WCE 70%, Alien Metals 30%) near Karratha in Western Australia’s Pilbara region, as the company advances the high-grade silver project.