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The Markets
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Small cap wrap: Thistle Resources, Highland Critical Minerals, Blockmate Ventures, Pinnacle Silver and Gold…

M2i Global Inc (OTC:MTWO), along with Volato Group (NYSEAMERICAN:SOAR), announced it has been awarded a Tenant Use Agreement by The Hawthorne Army Depot in Nevada to develop and operate a critical mineral repository, as the companies advance a proposed merger.

The Hawthorne Army Depot, located in Mineral County, is the world’s largest ammunition storage facility, spanning nearly 150,000 acres with more than 400 buildings and over 2,000 munitions bunkers.

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Alvopetro Energy Ltd (TSX-V:ALV, OTC:ALVOF, FRA:A6Y0) reported average sales volumes of 3,133 barrels of oil equivalent per day (boepd) for April 2026, broadly in line with first quarter levels, according to a company press release.

The majority of output came from the company’s Brazilian operations, where sales averaged 2,953 boepd. This included natural gas production of 16.7 million cubic feet per day (MMcfpd), as well as 155 barrels per day (bopd) of natural gas liquids and 9 bopd of oil.

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Blockmate Ventures Inc (TSX-V:MATE, OTCQB:MATEF, FRA:8MH) has provided an update on several of its ongoing initiatives, highlighting progress on a potential AI infrastructure opportunity in Wyoming and developments at its investee company Hivello, alongside corporate updates.

The Toronto-based venture builder said it continues discussions regarding a proposed AI and digital infrastructure project tied to a Wyoming site with up to 200 megawatts of potential capacity. The company is engaging with a range of counterparties, including potential partners, hyperscalers and infrastructure groups.

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Highland Critical Minerals Corp (CSE:HLND, FRA:U8X) has announced plans for a summer exploration program at its Church property in northern Ontario.

The company is planning the exploration program following the successful close of a non-brokered flow-through private placement that raised gross proceeds of $400,000.

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Century Lithium Corp. (TSX-V:LCE, OTCQX:CYDVF) announced that it has advanced federal permitting for its Angel Island lithium project in Nevada with the submission of a Draft Mine Plan of Operations to the US Bureau of Land Management (BLM), marking a key step in the project’s regulatory review process.

The Vancouver-based company said the draft plan is currently under review by the BLM and forms a central component of the permitting framework required for mining projects on public lands.

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Thistle Resources (TSX-V:TRCG) started trading on the TSX Venture Exchange on Tuesday morning as it prepares to launch a Phase 3 drill program at its Middle River gold project in New Brunswick's Bathurst Mining Camp.

The company, which trades under the symbol TRCG, holds five projects spanning 127.87 square kilometres across the Bathurst Mining Camp and Cape Breton, Nova Scotia, targeting precious metals and critical minerals including copper, lead, zinc, silver and gold.

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Sonoro Gold Corp (TSX-V:SGO, OTCQB:SMOFF, FRA:23SP) announced that it will resume drilling at its Cerro Caliche gold project in Sonora, Mexico, launching a two-phase, 50,000-metre exploration program aimed at expanding and upgrading the project’s mineral resource.

The Vancouver-based company said the campaign will consist of reverse circulation drilling alongside soil and rock sampling.

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Giyani Metals Corp (TSX-V:EMM, OTC:CATPF, FRA:KT9) said its high-purity manganese oxide has passed interim Phase 2 testing by US battery technology company C4V, advancing the company's K.Hill manganese project in Botswana.

C4V assembled multiple single-layer pouch cells using manganese oxide produced at Giyani's demonstration plant in Johannesburg, South Africa.

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Digi Power X Inc (NASDAQ:DGXX, FRA:1NQ0, NEO:DGX), the AI data center infrastructure operator, has signed a Master Services Agreement with AI computing company Cerebras Systems to colocate a purpose-built, 40-megawatt data center campus in Columbiana, Alabama, the company announced Tuesday.

Shares of Digi Power X surged on the news, up almost 30% on Tuesday morning.

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Empire Metals Ltd (AIM:EEE, OTCQX:EPMLF) shares climbed more than 11%, to 33.63p, after it told investors that initial assays from its largest drilling campaign to date have confirmed and expanded the high-grade core at the Thomas prospect within its Pitfield titanium project in Western Australia.

The AIM-quoted explorer completed 712 drill holes for 34,844 metres, taking total drilling at Pitfield to 67,846 metres across 1,104 holes.

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Pinnacle Silver & Gold Corp (TSX-V:PINN, OTCQB:PSGCF, FRA:P9J) announced that it has begun an underground delineation drilling program at its El Potrero gold-silver property in Durango, Mexico, following progress on mine rehabilitation and drill station preparation.

The program is initially focused on the Pinos Cuates mine, where 10 drill stations have been established across two levels.

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Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF, FRA:1SS) announced a strategic partnership and lodging integration with HotelPlanner, a global hotel booking platform with ties to Expedia, Priceline, Kayak, Hotels.com, and Booking.com.

The integration embeds accommodation booking capabilities directly within Nextech's event technology ecosystem, allowing event participants, exhibitors, and organizers to access hotel inventory linked to events supported by the company's platforms.

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G Mining Ventures Corp (TSX:GMIN, OTCQX:GMINF, FRA:W97) revealed construction at its Oko West Gold Project in Guyana is advancing on schedule and on budget, keeping the company on track for a first gold pour in the second half of 2027 and commercial production in January 2028.

The company has spent approximately US$292 million, or roughly 30% of the project's initial capital estimate of US$973 million, since development activities commenced in October 2025. Overall project completion has reached 19.7% based on earned value, with total commitments reaching US$525 million, or approximately 54% of initial capital.

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Hydrogen Utopia International PLC (OTCQB:HUIPF, LSE:HUI) said it is moving into the defence market with Project Fortress Fuel, a proposed system designed to turn domestic waste plastic and end-of-life tyres into JP-8 military aviation fuel and baseload electricity.

The company said the project is aimed at reducing military reliance on long-distance fuel supply chains, particularly routes exposed to geopolitical disruption, embargoes or conflict-related interdiction.

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Active Energy Group PLC (AIM:AEG, OTCID:AEUSF) shares rose sharply after it told investors it has accelerated revenue generation at its Ghummud site after redeploying digital infrastructure originally bought for its 8 MVA development site in the UAE.

The company said the move allows pre-sold customer demand to be shifted onto energised capacity, giving it near-term utilisation rather than waiting for the UAE site to come online.

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Ethernity Networks Ltd (AIM:ENET, OTCQB:ENETF), the AIM-listed semiconductor technology company, has seen its shares fall by a third, leaving it valued at less than £200,000, after revealing a cash preservation crisis that has forced its two senior managers onto part-time contracts.

The stock has now lost 92% of its value over the past year.

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Tertiary Minerals PLC (AIM:TYM, OTC:TTIRF, FRA:TMU) said it plans to fast-track its Mushima North silver-copper project in Zambia, with drilling due to start shortly as it targets a maiden JORC-compliant Mineral Resource Estimate before the end of 2026.

The AIM-listed explorer recently reported a JORC-compliant Exploration Target for the Target A1 silver oxide discovery of between 15Mt and 30Mt at an average grade of 40–60 grams per tonne silver equivalent, representing up to 58Moz of silver equivalent.

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Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF, FRA:RR1) has begun evaluating a potential US stock exchange listing, as the company looks to position itself more closely with western rare earths supply chains and North American investors.

The rare earths developer said the review is being driven by its status as a potential near-term supplier of critical raw materials, the US push to build independent rare earths supply, and Rainbow’s growing links to the US market.

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Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF, FRA:9K3) told investors it has completed the formal execution of agreements underpinning its southern Rukwa Helium Project mining licence in Tanzania, clearing a key administrative step as it launches a farm-out process for the asset.

A ceremony, held on 2 May in the Songwe region, close to the project, marked the completion of the Framework Agreement and Shareholders’ Agreement with the Government of Tanzania. The licence is held by the newly formed joint venture company Songwe Helium Ltd, in which Helium One has an 83% interest.

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Solis Minerals Ltd (TSX-V:SLMN, ASX:SLM, OTCQB:SLMFF, FRA:08WA) has moved its exploration team onto site at its newly acquired Brazil Lithium Project, with work under way to refine targets and prepare for an initial drilling campaign at the Mandacaru and Campo Grande prospects.

The company said field activities are now focused on finalising land access, advancing surface mapping and positioning drill collars ahead of a planned June start for diamond drilling, marking the next phase of its push into the Araçuaí–Salinas Lithium Valley in Minas Gerais.

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St George Mining Ltd (ASX:SGQ, FRA:S0G, OTC:SGQMF) has returned further thick, high-grade rare earths and niobium assays from ongoing diamond drilling at its 100%-owned Araxá Project in Minas Gerais, Brazil.

St George has completed 13,700 metres of drilling in the current Araxá campaign, excluding East Araxá, with drilling continuing around the clock.

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