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The Small Cap Wrap: Noxopharm's new CEO, Critical Resources advances Mavis Lake, Terrain Minerals extends high-grade gold at Lightning and more...

Lumos Diagnostics Holdings Ltd (ASX:LDX, OTC:LDXHF) has locked in the timing for its March quarter update and investor briefing, while reminding shareholders that its current capital raising is approaching its closing date.

The company will release its Q3 FY26 results on April 20, followed by an investor webinar on April 21, where management will outline quarterly performance and recent developments.

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Noxopharm Ltd (ASX:NOX) has appointed Dr Olivier Laczka as chief executive officer, effective immediately, elevating a long-standing executive closely tied to the development of its Sofra technology platform.

Laczka transitions into the role from his position as chief scientific officer – inflammation, bringing experience across drug development, biotechnology, biopharmaceuticals and diagnostics. His appointment is expected to provide continuity as the company advances opportunities linked to its Sofra platform following recent clinical and research milestones.

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Telix Pharmaceuticals Ltd (ASX:TLX) has delivered a sharp reminder of how quickly sentiment can swing in biotech — with a blockbuster partnership sending shares surging earlier this week, only for a sizeable financing move to pull the stock back.

The radiopharmaceuticals group was down 5.7% on Wednesday afternoon to A$14.64, despite still sitting up more than 6.5% over the past five days, reflecting a volatile stretch of news flow that has reset investor expectations around both growth and funding.

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Cavalier Resources Ltd (ASX:CVR) has delivered a 50% increase in the net present value of Stage 1 at its Crawford Gold Project in Western Australia, with an updated 2026 pre-feasibility study putting the project’s NPV8 at A$77.2 million on a 100% basis at a gold price of A$6,500 per ounce.

The revised study also lifted pre-capex undiscounted cashflow to A$106.4 million, while undiscounted project cashflow after capital came in at A$86.2 million. Cavalier said the update was completed as it works toward finalising project funding.

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ICENI GOLD LIMITED (ASX:ICL) has reported encouraging results from its maiden reverse circulation drilling program at the Goose Well prospect within its 14 Mile Well Gold Project in Western Australia, with drilling returning a series of shallow and deeper gold intersections across the Main and North target areas.

The 19-hole program for 2,150 metres tested two priority areas and confirmed gold mineralisation within the 1.7 kilometre by 1.3 kilometre Goose Well Intrusive Complex. Significant results included 10 metres at 0.96 g/t gold from 37 metres in hole FMRC0032, including 1 metre at 7.53 g/t from 38 metres; 14 metres at 0.60 g/t from 226 metres in FMRC0039, including 2 metres at 2.30 g/t from 234 metres; 8 metres at 0.62 g/t from 63 metres in FMRC0038, including 3 metres at 1.38 g/t from 68 metres; and 32 metres at 0.44 g/t from 6 metres in FMRC0022, including 1 metre at 3.78 g/t from 26 metres.

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Waratah Minerals Ltd (ASX:WTM) has reported further high-grade gold results from drilling at its 100%-owned Spur Gold Project in New South Wales, with new assays extending mineralisation at both the Consols and Spur zones.

The latest results cover seven diamond holes, with drilling focused on growing known mineralisation and testing for new high-grade zones outside previously defined areas. Waratah said 10 drill rigs remain active on site.

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Elevate Uranium Ltd (ASX:EL8, OTCQX:ELVUF) has lifted the mineral resource base at its Koppies Uranium Project in Namibia to 76.2 million pounds of U3O8 after declaring a maiden inferred resource at the Namib IV deposit.

The new Namib IV mineral resource estimate comes in at 29.5 million tonnes grading 155 parts per million eU3O8 for 10.1 million pounds of U3O8 at a 100ppm cut-off grade, adding a fresh resource centre to the broader Koppies project in the Erongo region.

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Critical Resources Ltd (ASX:CRR, FRA:9S70) has outlined its 2026 exploration program for the Mavis Lake Lithium Project in Ontario, Canada, targeting the Gullwing–Tot Northern Prospects corridor as it builds on the maiden inferred mineral resource of 8 million tonnes at 1.07% Li₂O.

The company has also engaged SLR Consulting and Pathway Group to help progress permitting, strengthen government engagement and assess non-dilutive funding pathways as it works to advance the project.

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Riversgold Ltd (ASX:RGL, FRA:RGV, OTC:RVSGF) has delivered a new round of strong drilling results from its Northern Zone Gold Project near Kalgoorlie, with high-grade intercepts and shallow mineralisation continuing to extend the footprint of the system.

Assays from 31 aircore drillholes have returned grades of up to 71 g/t gold, alongside multiple broad intercepts that rank among the best results recorded at the project to date.

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AuMEGA Metals Ltd (ASX:AAM, TSX:AUM, OTCQB:AUMMF, FRA:FRA: MA30) has completed a ~C$30.1 million (AU$31.1M) financing, strengthening its balance sheet and positioning the company to accelerate exploration across its Newfoundland gold projects in 2026.

The raise, completed in two tranches, saw approximately C$5.4 million secured in early March followed by a further C$24.7 million after shareholder approval in April, marking what management described as a transformational step for the company’s funding capacity and growth outlook.

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Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO, FRA:1NOR) has appointed experienced geologist Rohan Williams as general manager of exploration, effective April 15, 2026.

Williams, who replaces Karen de Luca after eight years of dedicated service, brings more than 30 years of experience across exploration, feasibility, open pit and underground mining, and resource development in Australia, Africa and Southeast Asia.

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Orthocell Ltd (ASX:OCC, OTC:ORHHF) has secured a significant expansion of its US market opportunity, gaining approval for its Remplir nerve repair device to be used across the US Department of Defense (DoD) and Veterans Affairs (VA) hospital networks.

The approval opens the door to 221 facilities — 51 military hospitals and 170 VA medical centres — adding to Orthocell’s US commercial footprint as it builds on recent regulatory clearance and early sales traction.

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Terrain Minerals Ltd (ASX:TMX, OTC:TMXAF, FRA:T4Y) has delivered a fresh round of high-grade gold results from drilling at its Lightning prospect, with new assays confirming continuity of mineralisation along strike and at depth while expanding the scale of the system ahead of a maiden resource targeted for mid-2026.

The results come from a 29-hole reverse circulation (RC) program completed between November 2025 and February 2026 at the 100%-owned Smokebush project in Western Australia’s Murchison region, where drilling is increasingly pointing to a broader and more complex gold system than previously understood.

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