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The Markets
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
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Archive

The Small Cap Wrap: Global sell off hits ASX, but news flows

Aurum Resources Ltd (ASX:AUE) has reported a fresh set of broad, shallow, high-grade gold intercepts from step-back diamond drilling at its 0.87Moz Napié Gold Project in Côte d’Ivoire, with results aimed at locking in final data ahead of an updated Mineral Resource Estimate (MRE).

The latest assays come from 26 holes for 8,021.55 metres across the Tchaga and Gogbala deposits and continue to demonstrate open-pittable style mineralisation, with mineralisation remaining open along strike and at depth.

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Provaris Energy Ltd (ASX:PV1, OTC:GBBLF, FRA:WS90) has received firm commitments to raise $1.325 million (before costs) through an oversubscribed placement of new fully paid ordinary shares to new and existing institutional, sophisticated and professional investors.

The money will be used to advance the company's 2026 work program, including hydrogen prototype tank development and associated Class Approval workstreams, CO₂ program activities and corporate costs.

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Cyprium Metals Ltd (ASX:CYM, OTCQB:CYPMF) will raise about A$5 million in gross proceeds after receiving applications for 4,587,600 new shares under its 1-for-58 non-renounceable entitlement offer, priced at A$0.52 per share.

The copper developer, focused on the phased restart of the Nifty Copper Complex in WA’s Paterson region, said the capital raising was fully underwritten and was first announced on January 23, 2026.

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Elixir Energy Ltd (ASX:EXR, OTC:ELXPF) has locked in the major contractors and critical equipment needed to stimulate, complete and flow test the Diona-1 exploration well in Queensland’s Surat-Bowen Basin, clearing a key execution hurdle ahead of the next phase of work. All essential service and equipment providers for the stimulation, completion and testing program have now been finalised, with field operations expected to begin in March 2026 and culminate in a planned 14-day flow test starting in April 2026.

Finalising procurement effectively shifts Diona-1 from planning into delivery, reducing scheduling risk and giving Elixir a clearer run at a near-term data event that could determine whether the well moves from “potential” to “discoverable and developable”.

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While much of the world is still rolling out 5G infrastructure, the technology industry is already setting its sights on the next leap in wireless connectivity.

Chip giant Qualcomm Inc (NASDAQ:QCOM, XETRA:QCI) and a group of telecom and technology companies this week announced a new initiative aimed at shaping the development trajectory for 6G, the next generation of mobile networks expected to emerge towards the end of the decade.

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Island Pharmaceuticals Ltd (ASX:ILA, OTC:ILA) has entered into a Cooperative Research and Development Agreement (CRADA) with the US Army Medical Research Institute of Infectious Diseases (USAMRIID) and The Geneva Foundation to accelerate development of its antiviral drug candidate galidesivir for the treatment of Marburg virus disease.

Investors reacted positively to the announcement, with Island shares rising about 9% as of 12:30 pm AEDT on Thursday, extending gains to roughly 16% over the past week and 50% over the past six months.

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Vita Resources NL (ASX:VTA) has begun mobilising drilling equipment for its maiden exploration program at the Ninnis Gold Project in Western Australia’s Eastern Goldfields, with drilling expected to start shortly.

The company has engaged GYRO Drilling to complete an auger drilling campaign comprising about 1,200 holes designed to infill previously identified gold-in-soil anomalies. The program will follow up earlier sub-surface soil sampling conducted by previous operators, which returned anomalous gold results beneath transported cover across the project area.

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Open Campus, the community-led decentralised autonomous organisation (DAO) backed by Animoca Brands Corporation Ltd (Unlisted (AU):AB1) that is building a blockchain-powered financial layer for education, has entered into a memorandum of understanding (MoU) with Vietnamese human resources firm Le & Associates and recruitment technology platform SKALE to explore a credential-powered job matching initiative in Vietnam.

The collaboration aims to combine Open Campus’s education ecosystem and credential and identity infrastructure with Le & Associates’ recruitment expertise and SKALE’s AI-driven digital hiring platform to enable candidates to share verified educational achievements directly with employers.

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Australia’s economy expanded at its fastest pace in nearly three years in the December quarter, with stronger-than-expected growth driven by government spending, private investment and a lift in consumer activity tied to major retail events.

New data from the Australian Bureau of Statistics (ABS) shows gross domestic product (GDP) rose 0.8% in the December quarter, accelerating from 0.4% in the previous quarter. Annual growth climbed to 2.6% from 2.1%, beating economists’ expectations of around 2.3%.

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Kingfisher Mining Ltd (ASX:KFM) and Broken Hill Mines Ltd (ASX:BHM) have entered a legally binding mining and processing cooperation agreement aimed at accelerating the development of Kingfisher’s high-grade projects in the Broken Hill region of New South Wales.

The agreement establishes a framework under which ore from Kingfisher’s tenement portfolio could be mined and processed at Broken Hill Mines’ 100%-owned Rasp Mine processing plant, which has a nameplate capacity of 750,000 tonnes per annum.

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AusQuest Limited (ASX:AQD) has reported further assay results from Stage 3 reverse circulation (RC) drilling at its 100%-owned Cangallo porphyry copper-gold project in Peru, continuing to build the scale of the system.

Broad-spaced RC drilling has now defined a corridor of continuous mineralisation extending more than 1,500 metres along strike, 250–500 m wide and to depths exceeding 400 metres, with the footprint expected to expand with additional drilling. The company also pointed to earlier diamond drilling suggesting mineralisation could extend beyond 800 metres depth.

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Cobalt Blue Holdings Ltd (ASX:COB, OTC:CBBHF, FRA:COH) says its Kwinana Cobalt Refinery project in Western Australia has cleared an important technical milestone after confirming that cobalt sulphate samples produced using its proprietary process meet stringent battery precursor material specifications.

The company reported that material produced at its Broken Hill Technology Centre (BHTC) meets the trace-metal purity and physical specifications required by precursor cathode active material (pCAM) customers — a key step towards commercial offtake agreements and a final investment decision (FID) on the refinery project.

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by Proactive
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