Kavango Resources PLC (LSE:KAV, OTC:KVGOF) shares were on the move on Wednesday, as it reported metallurgical testwork from the Hillside Gold Project in Zimbabwe, which the company said delivered high recoveries and standard processing requirements, clearing a key technical step as it prepares to bring its 50 tonnes-per-day gold plant into operation.
The Southern Africa-focused metals exploration and gold production company highlighted that ideal laboratory recoveries exceeded 95%, with real-world plant recoveries expected in the 90–93% range. Composite D, representing the expected feed for the 50 tpd plant, achieved 96% total plant recovery under laboratory conditions, while Composite C, representing a potential future 250 tpd upgrade blend, achieved 97%.
Power Metallic Mines Inc (TSX-V:PNPN, FRA:IVV1, OTCQB:PNPNF) continues to keep Noble Capital Research analysts bullish following its move to expand into Saudi Arabia through a new exploration-focused partnership, with the broker highlighting the deal as a step toward building a scalable regional platform rather than a single-asset development story.
Noble Capital maintained its ‘Outperform’ rating on the stock and a $2.65 price target, above levels of about $1 at the time of writing.
American Resources Corp (NASDAQ:AREC) said on Wednesday it has completed a multi-year transformation away from metallurgical coal into a rare earth and critical mineral supply chain platform.
As part of the restructuring, American Resources has separated its legacy coal operations and its affiliated refining entity, ReElement Technologies Corporation, into standalone companies no longer consolidated within its financial statements. The company said the move simplifies its corporate structure and improves financial transparency.
Grey Matters Health (CSE:GREY, OTCQB:AGNPD, FRA:AGW0) announced that it has signed a non-binding letter of intent with Catalyst MedTech to provide a minimum of 200 brain Positron Emission Tomography (PET) scans for an upcoming Alzheimer’s disease clinical trial.
The scans are expected to be conducted at Grey Matters’ planned NovaScan Neuroimaging Clinics location in Tampa, Florida, which the company aims to establish by the end of the fourth quarter of 2026. The parties said they intend to work toward a definitive services agreement within the next 60 days.
Sonoro Gold Corp (TSX-V:SGO, OTCQB:SMOFF, FRA:23SP) has announced plans for a non-brokered private placement aimed at raising approximately C$10 million to support development activities at its Cerro Caliche gold project in Sonora, Mexico.
The offering will consist of 40 million units priced at C$0.25 each. Every unit will include one common share and one common share purchase warrant.
88 Energy Ltd (AIM:88E, ASX:88E, OTCQB:EEENF, FRA:POQ) has told investors that its planned Augusta-1 exploration well at South Prudhoe on Alaska’s North Slope remains on track for a first-quarter 2027 spud, as the company advances permitting, logistics and farm-out discussions.
The AIM and ASX-listed explorer said Augusta-1 is designed to test up to 133.7 million barrels of gross unrisked 2U prospective resources, or 111.4 million barrels net to 88 Energy, across stacked Ivishak, Kuparuk and Brookian reservoir targets.
Nova Minerals Ltd (ASX:NVA, NASDAQ:NVA, FRA:QM3) is taking its US critical minerals ambitions to one of Alaska’s highest-profile energy and resources events this week, with chief executive officer Christopher Gerteisen set to present at the 2026 Alaska Sustainable Energy Conference (ASEC) in Anchorage.
The May 19–21 conference brings together senior government officials, industry leaders and researchers focused on energy security, infrastructure and resource development across Alaska and the broader United States. Nova’s appearance comes as the company pushes ahead with plans to establish a domestic antimony supply chain centred around its Estelle Gold and Critical Minerals Project in Alaska.