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The Markets
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The Markets
by Proactive
Proactive UK has moved.
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The Small Cap Wrap: Big gains for small caps today

Lightning Minerals Ltd (ASX:L1M, FRA:YZ1) has appointed Troy Brice as chief executive officer, effective March 23, 2026.

Brice brings more than 25 years of experience across the global resources sector, spanning mining, critical minerals and energy.

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The Sandbox, the immersive metaverse platform and Animoca Brands Corporation Ltd (Unlisted (AU):AB1) subsidiary, has opened pre-registration for NEXT, its first dedicated mobile battle royale game, in a move designed to lower the barrier to entry for new players and expand its addressable audience beyond desktop.

Pre-registration is free and open until March 25, 2026, with the playtest itself commencing on March 26. Spots are limited and allocated on a first-come, first-served basis via sandbox.game/next.

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Resource Minerals International Ltd (ASX:RMI) has identified new structurally controlled copper-gold targets and extended its exploration footprint at the Mpanda project in Tanzania following a high-resolution drone magnetic survey.

The survey, completed across the Kabungu, Ibindi and Kabatini prospects, highlighted a complex network of shear zones, fault intersections and magnetic lows interpreted to be key controls on mineralisation. The data builds on existing soil geochemistry and earlier drilling, increasing confidence in target generation for higher-grade zones.

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The Malawi-based miner's flagship deposit remains the world's largest natural rutile reserve

Sovereign Metals Ltd (ASX:SVM, OTCQX:SVMLF, AIM:SVML, FRA:SVM), the AIM-listed critical minerals company, has significantly upgraded the resource estimate for its Kasiya project in Malawi, sending shares up 9% to 44p.

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Jensen Huang used Nvidia Corp (NASDAQ:NVDA, XETRA:NVD)’s keynote at the GTC global AI conference on Monday to lay out a much larger demand picture for AI infrastructure — and a clear shift in where that demand is heading next.

The headline figure was a sharp upgrade to expected orders. Nvidia now sees as much as US$1 trillion in combined demand for its Blackwell and next-generation Vera Rubin platforms through to 2027, roughly double the US$500 billion estimate disclosed last October. The figure excludes several product configurations, suggesting the total pipeline could be larger again.

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Core Lithium Ltd (ASX:CXO, OTC:CXOXF, FRA:7CX) has approved a Final Investment Decision (FID) to restart operations at its Finniss Lithium Project in the Northern Territory, alongside securing a fully funded restart package exceeding $300 million.

The FID marks a key milestone for the company, following completion of updated mine planning, engineering studies and operating strategies designed to reposition Finniss as a lower-cost, long-life lithium operation with reduced execution risk. It is underpinned by updated project economics, including a pre-tax NPV of $1.1 billion and forecast free cash flow of $1.7 billion, based on a long-term spodumene price of US$1,500/t.

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Belararox Ltd (ASX:BRX, OTC:BRXLF) has reported high-grade silver results from drilling at its Toro Central prospect in Argentina, with the second hole confirming a newly identified near-surface mineralised zone and reinforcing the potential for a broader silver system.

Results from hole TMT-TC-DDH-002 returned 47 metres at 171.99 grams per tonne (g/t) silver from 59 metres, including 27 metres at 290.55 g/t silver, alongside zinc, copper, gold and lead credits.

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Strike Energy Ltd (ASX:STX, OTC:STKKF, FRA:RJN) has increased 2P reserves at its West Erregulla gas field in Western Australia by 19% to 251 petajoules (PJ) net to the company, following updated subsurface modelling incorporating new drilling and seismic data.

The reserve upgrade reflects an increase of 40PJ from the previous 2022 estimate of 211PJ and is based on revised geological interpretation integrating results from the Erregulla Deep-1 well and the Natta 3D seismic survey.

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Critical Resources Ltd (ASX:CRR, FRA:9S70) has reported a key technical milestone in its solid-state battery strategy, with laboratory validation of its amorphous solid-state electrolyte (ASE) demonstrating sustained stability and performance under testing.

The results mark an early but meaningful step in addressing one of the most persistent challenges in solid-state battery development — electrolyte instability — while strengthening the company’s broader integrated battery program.

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Barton Gold Holdings Ltd (ASX:BGD, OTCQB:BGDFF, FRA:BGD3) has started an approximate 8,000-metre reverse circulation (RC) drilling program at its Challenger Gold Project in South Australia, with work focused on defining open pit material for an initial Stage 1 development case under its Definitive Feasibility Study (DFS).

The campaign is targeting the Challenger Main and Challenger West open pits, along with additional open pit targets at Challenger South-Southwest and Challenger 3.

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Sovereign Metals Ltd (ASX:SVM, OTCQX:SVMLF, AIM:SVML, FRA:SVM) has delivered a substantial upgrade to the mineral resource at its flagship Kasiya rutile-graphite project in Malawi, strengthening confidence in the deposit as it advances towards a definitive feasibility study (DFS).

The updated estimate lifts total rutile resources to 2.1 billion tonnes at 0.96% rutile for 20.3 million tonnes (Mt) of contained rutile, alongside 20.0Mt of contained graphite, cementing Kasiya’s status as the world’s largest natural rutile deposit.

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