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The Markets
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The Small Cap Wrap: Nova Minerals starts fully funded 2026 Estelle program; Imugene doses first patient in BTKi combination cohort and more....

Tamboran Resources Corporation (NYSE:TBN, ASX:TBN, OTC:TBNRL, FRA:O8R) has completed the acquisition of Falcon Oil & Gas Ltd’s subsidiaries, following final court approval from the Supreme Court of British Columbia.

The acquisition gives Tamboran about 2.8 million net prospective acres in the Beetaloo Basin depocenter, making it the largest acreage holder in the key Northern Territory gas region.

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Solis Minerals Ltd (TSX-V:SLMN, ASX:SLM, OTCQB:SLMFF, FRA:08WA) has completed its $6 million raise, with funds to go towards upcoming drilling programs at its Brazil lithium assets and Cinto copper project.

The company will issue about 63.2 million shares at $0.095 each, representing a 9.5% discount to the last traded price of $0.105 on May 26, 2026. No options are attached to the offer.

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The ASX is set for a stronger finish to the week, with futures up 61.9 points (+0.72%) at 9:15 am AEST after easing oil prices, falling bond yields and new record highs on Wall Street improved market sentiment overnight.

The positive lead follows a bruising session locally on Thursday, when the ASX 200 slumped 1.43% as renewed military exchanges between the US and Iran triggered a broad sell-off across miners, banks and technology stocks.

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Electric vehicles are becoming increasingly central to the global technology and energy transition, with the latest International Energy Agency (IEA) outlook showing strong sales growth continuing across major and emerging markets despite mounting geopolitical and economic uncertainty.

The IEA’s Global EV Outlook 2026 found global electric car sales rose 20% in 2025 to exceed 20 million vehicles for the first time, meaning one in four new cars sold globally last year was electric.

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Gold explorer Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO, FRA:1NOR) has completed the second tranche of its previously announced A$8.2 million placement, raising ~C$1.93 million (around A$1.95 million) following shareholder approval at its recent annual general meeting.

The tranche 2 completion follows settlement of the first tranche in March, which raised about A$6.2 million, with the combined proceeds earmarked to accelerate drilling and exploration activities across Novo’s Pilbara and Victorian gold projects.

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Animoca Brands Corporation Ltd (Unlisted (AU):AB1) and affiliates have co-invested US$1 million in Superior.Trade, backing the early-stage protocol layer for agentic trading teams as the first recipient under the recently launched Minds Investment Programme.

The investment was made by Animoca Brands and affiliates through the program, which launched on May 5, 2026, with a commitment of up to US$10 million to support teams building products on Minds by Animoca Brands — the company’s persistent AI agent platform.

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Atomic Eagle Ltd (ASX:AEU, FRA:6QZ0) has refined multiple new uranium drill targets at its Muntanga North exploration area in Zambia after completing more than half of a planned ground radiometric survey program across the broader Muntanga Uranium Project.

The company said 53 line-kilometres of close-spaced ground radiometric surveying had now been completed across five of eight priority target areas, with the work confirming and refining several previously identified airborne anomalies.

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BPH Global Ltd (ASX:BP8, FRA:USZ0) has recorded its second-highest monthly seaweed trading result to date, generating gross sales of IDR 4.965 billion, or about A$391,000, for the 12th trading period from 15 April to 14 May 2026.

The result takes aggregate gross sales from the company’s first 12 months of Indonesian seaweed trading operations to around A$3.33 million.

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Accelerate Resources Ltd (ASX:AX8) has received firm commitments to raise A$2 million before costs through a two-tranche share placement to institutional, professional and sophisticated investors. The money will support the company's dual-project growth strategy, including planned exploration programs at both the Balagundi Gold Project and Woodie Woodie North Manganese Project.

The company will issue 400 million new fully paid ordinary shares at A$0.005 per share, representing a 28.6% discount to the last traded price of A$0.007 on May 25, 2026, and a 20.5% discount to the 15-day volume-weighted average price.

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Noviqtech Ltd (ASX:NVQ, OTC:NVQLF, FRA:63Q0) subsidiary Coralia has started a field and pyrolysis trial at the company’s flagship Great Barrier Reef Biochar Project in North Queensland.

The trial involves harvesting and chipping invasive Chinese Apple trees before transporting the biomass to Pyrocal’s pyrolysis facility in Toowoomba, where it will be converted into biochar under multiple operating temperatures.

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Nova Minerals Ltd (ASX:NVA, NASDAQ:NVA, FRA:QM3) has mobilised teams for its fully funded 2026 field season at the Estelle Gold and Critical Minerals Project in Alaska, with military-grade antimony trisulfide samples nearing completion and a 10,000-metre drill program set to begin.

The program will be one of the company’s largest field and development campaigns to date, targeting gold resource growth at RPM while advancing the Stibium and Styx antimony prospects toward production and resource delineation.

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Imugene Ltd (ASX:IMU, OTC:IUGNF, FRA:ILA) has dosed the first patient in the Bruton Tyrosine Kinase inhibitor (BTKi) combination cohort of its Phase 1b azer-cel study, marking a key expansion of the company’s clinical program into a global market valued at about US$12 billion in 2025.

The patient, treated at Baylor University in Texas, has mantle cell lymphoma (MCL) and had previously failed BTKi therapy, a common treatment approach across several B-cell blood cancers.

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Solis Minerals Ltd (TSX-V:SLMN, ASX:SLM, OTCQB:SLMFF, FRA:08WA) will brief investors on Friday about preparations for its upcoming Brazil lithium drilling campaign, with chief executive officer Mitch Thomas set to host a live webinar focused on the company’s flagship lithium project in Minas Gerais.

The webinar comes as Solis moves closer to drilling at its 100%-owned Brazil Lithium Project within the Araçuaí–Salinas Lithium Valley, a globally significant hard-rock lithium district that has attracted growing exploration and development activity in recent years.

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NewPeak Metals Ltd (ASX:NPM, OTC:NPMFF, FRA:NPM) says its maiden drill program at the Tansey Gold Project in southeast Queensland has confirmed that gold mineralisation extends both below and beyond the historic South Burnett underground mine, while also identifying what appears to be a previously unrecognised parallel structure.

The four-hole diamond drilling campaign, completed earlier this year, returned multiple broad gold intercepts from the shear zone that hosts the historic workings, including:

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Critical Resources Ltd (ASX:CRR, FRA:9S70) says peer-reviewed benchmarking has shown its sulphur-free amorphous solid-state electrolyte (ASE) technology can deliver ionic conductivity and activation energy competitive with sulphide-class solid-state battery materials — without the toxic gas risks and manufacturing constraints associated with sulphur-based chemistries.

The company said its first-pass ASE composition achieved room-temperature ionic conductivity of 3.2 mS cm⁻¹ and activation energy of 0.27 eV during testing at the South Dakota School of Mines & Technology (SDM), within the US National Science Foundation-supported Centre for Solid State Electric Power Storage framework.

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International Graphite Ltd (ASX:IG6, FRA:H99, OTC:IGRPF) has received a Building Permit from the Shire of Collie, clearing the way for earthworks and civil construction to begin at its Collie Micronising Facility in Western Australia.

The permit represents the second of six milestones tied to the company’s $4.5 million grant from the Western Australian Government’s Collie Industrial Transition Fund, enabling International Graphite to draw down the next tranche of funding.

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