The S&P/ASX Small Ordinaries Index (ASX: XSO) closed at 3,562.70, down 1.18% or 42.60 points yesterday.
Despite the daily fall, the index remained higher over the past five days, gaining 2.89% or 100.00 points. If you look hard enough, you'll find several strong announcements this morning. You can read about the following and more throughout the day.
Mandrake signs drilling contract for Berinka gold-copper program
Mandrake Resources Ltd (ASX: MAN) has signed a drilling contract with Geodrill (TSX:GEO) Australia for a 3,200-metre reverse circulation drilling program at the Berinka Pine Creek Gold-Copper Project in the Northern Territory.
The program will target gold and copper mineralisation within the Pine Creek goldfield, a district that has produced more than 20 million ounces of gold.
Mandrake said the region had seen a notable lift in exploration and development activity, with 3 new carbon-in-leach plants permitted for construction in the past 18 months. This is in addition to the existing CIL plant at the Union Reefs deposit, operated by Agnico Eagle, which is currently on care and maintenance.
Cynata reports Phase 3 osteoarthritis trial results
Cynata Therapeutics Ltd (ASX:CYP) has received top-line results from the University of Sydney’s Phase 3 SCUlpTOR1 trial of CYP-004 in patients with osteoarthritis of the knee.
The clinical-stage cell therapeutics company said no safety concerns were identified, with a similar adverse event profile between the active and control groups.
However, the trial did not show statistically significant differences between the active and control groups across the 2 co-primary endpoints.
At 24 months, 51.7% of participants in the active group reached the patient-acceptable symptom state threshold for knee pain, compared with 48.1% in the control group, with a p-value of 0.5907.
The trial also showed a mean loss of central medial femorotibial cartilage thickness of 0.27 millimetres in the active group compared with 0.21 millimetres in the control group, with a p-value of 0.1453.
Cynata said both groups showed substantial and durable reductions in knee pain intensity from 3 to 24 months compared with baseline, although there were no significant differences between groups at any time point.
After 24 months, the average reduction in pain score was 26.8 out of 100 in the active group and 25.3 out of 100 in the control group.
Chilwa updates Mpyupyu mineral resource
Chilwa Minerals Ltd (ASX:CHW) has updated the mineral resource estimate for the Mpyupyu deposits at its Chilwa Critical Minerals Project in southern Malawi.
Mpyupyu is 1 of 10 heavy mineral sands deposits identified to date within the project, which comprises predominantly paleoshoreline deposits near Lake Chilwa.
The total mineral resource for Mpyupyu now stands at 109.6 million tonnes at a 1.0% total heavy mineral cut-off.
This includes 24.5 million tonnes in the measured category, 73.6 million tonnes indicated and 11.6 million tonnes inferred.
Contained heavy mineral concentrate has increased to 3.61 million tonnes from 2.23 million tonnes, reflecting additional infill sonic drilling, improved domaining and updated block model parameters.
Average total heavy mineral grade declined to 3.28% from 4.36% as additional lower-grade material was incorporated into the estimate.
Chilwa said this explained why contained total heavy minerals increased by 61% while overall tonnage rose by 114%.
A higher-grade core of 50.6 million tonnes at 4.65% total heavy minerals has also been reported at a 3.0% cut-off.
AML3D commissions first Newport News Shipbuilding ARCEMY systems
AML3D Ltd (ASX: AL3) has successfully commissioned the first 2 custom, large-scale ARCEMY® X systems for Newport News Shipbuilding, a division of HII.
Newport News Shipbuilding is America’s largest military shipbuilder, delivering nuclear-powered aircraft carriers and submarines, surface ships and defence technology.
The commissioning completes an initial order worth about $4.5 million and triggers the final payment of about $892,000.
The two ARCEMY® X systems use a 10,886-kilogram positioner to provide heavy-capacity build capability for shipbuilding applications.
Newport News Shipbuilding has already placed a second order, worth about $9.9 million, for a further 4 custom ARCEMY® X systems. These are expected to be delivered in early 2027 from AML3D’s US technology and manufacturing hub in Stow, Ohio.
AML3D said Newport News Shipbuilding planned to use the fleet of 6 systems to apply advanced additive manufacturing technology to reduce lead times and provide alternatives to traditional manufacturing methods.
Rohav Mountain drilling points to strengthening gold mineralisation
Drilling at Unity Metals (ASX:UM1)'s Rohav Mountain prospect has returned a new gold intersection of 5 metres at 1.8 g/t gold from 196 metres in hole 26DDRM012.
The result is around 150 metres southwest of a previous intersection of 23 metres at 0.9 g/t gold from 120 metres, including 6 metres at 1.9 g/t gold in hole 26DDRM007.
The best gold intersections reported to date at Rohav Mountain occur along the contacts of a highly altered diorite intrusion and surrounding hornfels. The mineralisation is associated with sheeted and stockwork quartz-sulphide veins.
The company said gold mineralisation appeared to be strengthening as it extended northeast under basalt cover.
Geological mapping has also identified additional areas of stockwork veins hosted in diorite, with rock chip sampling underway.
Mapping and drill hole logging indicate the diorite intrusion may also be thickening as it extends beneath the basalt.
Geophysical surveys, including UAV magnetics and dipole-dipole array induced polarisation, are underway to identify new drilling targets below the basalt cover.
The maiden diamond drilling program at Ngot has now been completed for 8,238 metres across 50 holes.
Assays remain outstanding for 3 holes: 26DDNE009 and 26DDNE010 at the Ngot NE prospect and 26DDSL010 at the Srolao prospect.