The S&P/ASX Small Ordinaries Index (XSO) closed at 3,553.80 yesterday, up 0.087% or 3.10 points.
The index has gained 4.36% over the past five days, adding 148.50 points as small-cap investor sentiment continues to firm. It has been a quiet start to the day for news releases, but you can read about the following and more throughout the day.
St George Mining secures A$60 million for Araxá development
St George Mining Ltd (ASX:SGQ, FRA:S0G, OTC:SGQMF) has received firm commitments to raise A$60 million before costs through a 2-tranche institutional placement.
The company will issue 600 million new fully paid ordinary shares at A$0.10 per share, with the placement primarily supported by existing institutional investors.
St George’s largest shareholder, Hancock Prospecting Pty Ltd, has committed to subscribe for A$20 million, equivalent to 200 million new shares.
Following completion of the placement, Hancock will hold an interest of around 10.5% in St George.
Funds raised will be used to advance development of the company’s high-grade rare earths and niobium Araxá Project in Minas Gerais, Brazil.
International Graphite to establish Italian processing hub
International Graphite Ltd (ASX:IG6, FRA:H99, OTC:IGRPF) has entered into a Joint Venture and Shareholders’ Agreement with Alkeemia S.p.A. to establish a graphite processing hub at Porto Marghera in Italy.
Alkeemia is one of Europe’s leading chemical manufacturers and brings strategic industrial infrastructure to the proposed development.
The project is designed to combine International Graphite’s graphite processing expertise with Alkeemia’s established industrial footprint, creating what the company describes as a capital-efficient graphite processing operation in the heart of Europe’s critical minerals supply chain.
The evaluation confirms the potential of the proposed development, which is targeting a final investment decision by Q3 2026.
Percheron advances HMBD-002 clinical trial preparations
Percheron Therapeutics Ltd (ASX:PER, OTC:PERCF) has completed manufacture of HMBD-002 drug substance for forthcoming clinical trials.
The international biotechnology company is focused on developing novel therapies for oncology and rare diseases.
Under a licence agreement executed with Hummingbird Bioscience in June 2025, Hummingbird assumed responsibility for manufacturing a new batch of HMBD-002 drug substance for clinical trial use.
Percheron has received a Certificate of Analysis for the batch, with all product quality attributes reported to be within expected limits.
Final release and consignment to Percheron remain on schedule for late June.
The company will then undertake fill and finish work to package the HMBD-002 drug substance into vials for clinical trial use.
That work is expected to be completed in Q3 CY2026, with final drug product to be released at that time.
Percheron aims to begin a new clinical trial of HMBD-002 in 2H CY2026.