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The Markets
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The Small Cap Wrap: St George Mining to join ASX All Ordinaries; Janus Electric funds zero-emission truck push and more...

Pantoro Gold Ltd (ASX:PNR, OTC:PNTOF, FRA:RKN) has reported higher revenue and earnings for the first half of FY2026, supported by gold production of 41,623 ounces from its Norseman Gold Project in Western Australia.

The WA-based producer generated revenue of $238.6 million for the six months to December 31, up from $153.4 million in the prior corresponding period, while EBITDA rose to $135.5 million from $63.8 million. Gross profit increased to $85.1 million compared with $15 million a year earlier.

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Pantoro Gold Ltd (ASX:PNR, OTC:PNTOF, FRA:RKN) plans to develop a third underground mine at its Norseman Gold Project in Western Australia, with work expected to begin in early FY27 as part of the company’s strategy to expand production from the historic goldfield.

The proposed development will target the high-grade O’Briens Reef within the Norseman Mainfield, with first ore development anticipated during the December 2026 quarter once rehabilitation and dewatering of the Bullen Decline are completed.

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Orthocell Ltd (ASX:OCC, OTC:ORHHF) has appointed UK medical device distributor LEDA Orthopaedics as the exclusive in-country distributor for Remplir™, marking an early commercial step ahead of the company’s planned entry into the UK and broader European nerve repair market.

The appointment follows Orthocell’s December 2025 submission to the British Standards Institution seeking approval to sell Remplir in the UK and EU, a combined market the company values at US$750 million and estimates accounts for around 500,000 peripheral nerve repair procedures each year. Approval remains on track for a decision in Q3 FY26.

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St George Mining Ltd (ASX:SGQ, FRA:S0G, OTC:SGQMF) has appointed Brazilian resource geologist Carla Grasso as principal geologist for its Araxá rare earths-niobium project in Minas Gerais, adding in-country technical leadership as it advances economic studies for a potential mining operation.

Grasso will be based in the city of Araxá and will take a lead role in mine planning for the 100%-owned project, with responsibilities spanning mineral resource modelling, reserve estimation, grade control, pit optimisation and geometallurgical assessment. Her role also includes overseeing resource reporting, coordinating geo-metallurgical programs and supporting both short and long-term mine planning.

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Far East Gold Ltd (ASX:FEG) has reported further high-grade gold intersections from drilling at the Sua prospect within its Idenburg Gold Project in Papua, Indonesia, extending the known mineralised system and paving the way for an updated mineral resource estimate.

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The S&P/ASX Small Ordinaries Index (ASX: XSO) fell sharply in the latest session, closing at 3,463.20, down 131.60 points (3.66%), while the index has declined 300.60 points (7.99%) over the past five days, reflecting broader weakness across the small-cap segment of the Australian market.

The decline hasn't stopped companies releasing operational and corporate updates across the healthcare, resources and exploration sectors. You can read about the following and more throughout the door.

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More buyers than sellers: that's the less-than-satisfying and slightly sarcastic retort a trade desk will give when a better reason for a sudden share price spike isn't available. And, so it is, we reach into the drawer for the same explanation, as 88 Energy Ltd (AIM:88E, ASX:88E, OTCQB:EEENF, FRA:POQ) shares opened some 30% higher in Monday's early trade.

88 Energy itself told the ASX earlier today that it "is not aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain the recent trading in the company’s securities."

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Nanosonics Ltd shares rose on Monday after the infection-prevention specialist secured a key US regulatory clearance for its next-generation CORIS system — a rare bright spot on a rough day for both the healthcare sector and the broader Australian market.

The stock closed at $3.58, up 4.22%, extending its gains over the past week to nearly 4%. That performance stood in contrast to the wider sell-off, with the S&P/ASX 200 Health Care index falling 3.2% and the ASX 200 dropping 2.85%.

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Retail investors are increasingly diversifying away from crowded US technology trades and towards commodities and other “real-economy” assets as global uncertainty reshapes portfolio strategies, according to commentary from Sharesies head of capital markets Jacki Neumann.

Neumann said the market has become more discerning about AI investments as investors look for evidence that heavy spending is translating into stronger profits.

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GreenTech Metals Ltd (ASX:GRE) has completed its Phase 1 drill program at the recently acquired Munni Munni PGE-Cu-Ni Project in Western Australia, with the campaign finishing ahead of schedule as the company leveraged preserved historical core to reduce fresh drilling requirements.

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Pan African Resources PLC (LSE:PAF, OTCQX:PAFRY, JSE:PAN) has entered a binding agreement to acquire 100% of ASX-listed Emmerson Resources Ltd (ASX:ERM) via a scheme of arrangement, valuing Emmerson at approximately A$311 million on a fully diluted basis.

Emmerson shareholders will receive 0.1493 Pan African Resources (PAR) shares — delivered as ASX-listed CHESS Depositary Interests (CDIs) — for each Emmerson share held at the record date.

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St George Mining Ltd (ASX:SGQ, FRA:S0G, OTC:SGQMF) will join the S&P/ASX All Ordinaries Index from the start of trading on March 23, 2026, marking another step in the company’s rapid rise following its acquisition of the Araxá Rare Earths-Niobium Project in Brazil.

The inclusion places St George among the 500 largest companies on the ASX by market capitalisation and is expected to lift the company’s visibility among a broader pool of investors, including index-tracking funds and institutions.

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BluGlass Ltd (ASX:BLG) has secured a A$560,000 purchase order from a US-based tier-1 aerospace and defence contractor as part of a broader A$1.25 million development program to advance its gallium nitride (GaN) laser technology for next-generation aerospace and defence systems.

The order marks the first phase of a multi-stage development program expected to run over 14 to 20 months. BluGlass will develop custom packaged visible GaN distributed feedback (DFB) lasers and gain chips designed for dual-use defence and aerospace applications.

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Janus Electric Holdings Ltd (ASX:JNS) has secured a $2.75 million R&D finance facility, handing the electric heavy transport company fresh working capital to advance its battery-electric conversion technology without diluting shareholders.

The facility, executed through wholly owned subsidiary Janus Energy Pty Ltd with lender Rockford RDF Pty Ltd, immediately retired a $1.053 million loan from prior lender Rocking Horse Group. The move leaves Janus with roughly $1.7 million in net new capital — a buffer the company says will carry it through to receipt of its $1.41 million FY25 R&D Tax Incentive refund, expected from the ATO in the near term.

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Amplitude Energy (ASX: AEL) is preparing to begin flow testing at its Isabella prospect in the offshore Otway Basin after early drilling and evaluation results pointed to strong reservoir performance and low CO2 levels.

The Isabella field sits in permit VIC/L24 in Commonwealth waters south-west of the producing Casino field. Amplitude is operator and holds a 50% stake in the permit, with O.G. Energy holding the remaining 50%.

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Star Minerals Ltd (ASX:SMS) has received the final approval needed to begin mining at its Tumblegum South Gold Project in Western Australia, with the WA Department of Mines, Petroleum and Exploration granting a Native Vegetation Clearing Permit.

The permit completes the approvals pathway for mining activities at Tumblegum South, subject to operational decisions by MEGA Resources under the previously announced Right to Mine Agreement.

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Nova Minerals Ltd (ASX:NVA, NASDAQ:NVA, OTC:NVAAF, FRA:QM3) has reported further high-grade gold results from surface sampling near the RPM prospect at its Estelle Gold and Critical Minerals Project in Alaska, highlighting new exploration targets ahead of planned drilling in 2026.

The company said field observations and assay results from its 2025 exploration program have identified gold anomalies along the northern extension of the RPM ridgeline and in an area 2 to 3 kilometres to the west.

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