Small caps are heading into a softer session, with ASX futures pointing lower as rising oil prices and stalled US–Iran talks weigh on broader risk appetite.
Despite the more cautious tone, today’s updates highlight steady progress across gold, rare earths and exploration plays, with a mix of high-grade drilling, funding support and project de-risking.
Pantoro extends high-grade mineralisation at Scotia
Pantoro Gold Ltd (ASX:PNR, OTC:PNTOF, FRA:RKN) has returned a string of high-grade intercepts from underground and surface drilling at its Scotia mine, including standout hits above 100g/t gold, reinforcing the strength of the Norseman project.
Extensional drilling has confirmed mineralisation continuing below the current resource and open at depth, supporting potential mine life extensions, while new development levels outside the existing plan have already been approved.
Lindian locks in funding to support Kangankunde build
Lindian Resources Ltd (ASX:LIN, OTC:LINIF) has secured an US$11.6 million (~A$17 million) equipment finance and working capital facility from Malawi’s NBS Bank, adding operational flexibility as construction advances at its Kangankunde rare earths project.
The facility complements the company’s recent A$100 million capital raise and is aimed at supporting fleet financing and ramp-up activities, with mechanical completion targeted in the second half of 2026.
AuKing sharpens drill targets at Tundulu
AuKing Mining Ltd (ASX:AKN) has completed a drone-based magnetic and LiDAR survey across its Tundulu rare earths project in Malawi, providing high-resolution data to guide upcoming drilling.
The survey covers the full carbonatite complex and is expected to refine structural targets ahead of a planned drilling campaign, with results due within days and drilling potentially starting in May.
Riversgold clears heritage hurdle at Kalgoorlie project
Riversgold Ltd (ASX:RGL, FRA:RGV, OTC:RVSGF) has received a preliminary heritage report confirming clearance across its Northern Zone gold project near Kalgoorlie, removing a key hurdle on the path to mining approval.
The outcome supports progression to a mine development and closure plan, with a mining lease expected shortly and funding already in place through a 50/50 profit-share agreement.
Nova moves closer to US re-domiciliation
Nova Minerals Ltd (ASX:NVA, NASDAQ:NVA, OTC:NVAAF, FRA:QM3) has registered its scheme booklet with ASIC as part of its proposed re-domiciliation to the United States, advancing plans to shift its primary listing.
The booklet is expected to be dispatched to shareholders later this month, marking the next formal step in the company’s transition to a US-based structure.