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The Markets
by Proactive
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Small cap wrap: Power Metallic Mines, Tiziana Life Sciences, Fox Tungsten, American Resources…

The S&P/ASX Small Ordinaries Index (ASX: XSO) was trading at 3,428.40, down 1.39% or 48.50 points on the previous session.

The index was also weaker over the past five days, falling 3.54% or 125.80 points, reflecting broader pressure across the small-cap segment.

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Elixir Energy Ltd (ASX:EXR, OTC:ELXPF) has completed the planned 12-stage fracture stimulation program at its high-impact Lorelle-3H appraisal well in Queensland’s Taroom Trough, with all pumped proppant successfully placed within the target formation.

The program was carried out across 1,033 metres of net gas-condensate pay in the Tinowon ‘Dunk’ Sandstone reservoir within ATP2056.

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Snail Inc (NASDAQ:SNAL) on Thursday announced a slate of portfolio updates, including the debut of its first paid PixARK expansion, participation in the 2026 Steam Summer Sale, and continued traction for Bellwright following its console launch.

The company unveiled PixARK: Terracrypt, the first paid DLC for its sandbox survival title PixARK, which has surpassed 1 million downloads.

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Trust Stamp Inc (NASDAQ:IDAI, ISE:AIID) announced on Thursday that it has closed a $5.51 million financing, which the company said strengthens its liquidity position and provides funding for ongoing operations.

According to the company, the financing consists of a 24-month loan that can be repaid at any time. Trust Stamp said the transaction provides approximately $5 million in net cash proceeds immediately, increasing its combined cash on hand and receivables balance to more than $7.6 million.

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Fox Tungsten Ltd (TSX-V:FOXT, OTC:HPYCF, FRA:1HC) announced that it has commenced a fully funded 20,000-metre diamond drilling program at its Fox project in south-central British Columbia, marking the largest exploration campaign in the company's history.

The company said the first of two drill rigs has been mobilized and drilling is underway at the project, located about 75 kilometres northeast of 100 Mile House. A second drill rig is expected to arrive in early July.

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Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF, FRA:1SS) has reported its audited financial results for the fourth quarter and full fiscal year ended March 31, 2026, showing higher revenue, improved margins and a reduced operating loss as the company continues its transition toward an AI-focused software business.

Fourth-quarter revenue rose 207% year over year to $939,000 from $306,000 in the same period a year earlier.

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AtaiBeckley Inc. (NASDAQ:ATAI, XETRA:9VC) announced on Thursday that it will be added to the Russell 2000 Index and the Russell 3000 Index, effective at the open of US markets on June 29, as part of the 2026 Russell indexes reconstitution.

The clinical-stage biotechnology company said the inclusion broadens its exposure to institutional investors and index-tracking funds. According to FTSE Russell, approximately $12.2 trillion in assets are benchmarked against the Russell US indexes.

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ReElement Technologies Corporation, a subsidiary of American Resources Corp (NASDAQ:AREC), has joined the Global Trusted Tech Network of the Krach Institute for Tech Diplomacy at Purdue, the company announced Thursday.

The Fishers, Indiana-based firm also received the institute's 2025 Trusted Tech Leadership Award for its work advancing secure and sustainable critical mineral supply chains.

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Aftermath Silver Ltd (TSX-V:AAG, OTCQX:AAGFF, FRA:FLM1) has released additional assay results from its Phase 3 diamond drill program at the Berenguela silver-copper-manganese deposit in southern Peru.

The results cover the final 15 holes of a 90-hole program, with infill drilling along a 100-metre strike length within the existing resource boundary. The work is aimed at delineating high-grade mineralization suitable for a starter pit and defining mineral occurrences for planning purposes.

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Varon Corp (OTCID:OZSC) said its joint venture Ballislife Drink Inc has secured placement in approximately 95 retail locations across Central Florida with one of the largest convenience store operators in North America, as the functional beverage brand accelerates its commercial rollout.

The Central Florida expansion is backed by NBA guard Desmond Bane, an equity partner in Ballislife Hydro, whose presence in Orlando is expected to support local brand awareness as the product enters high-traffic retail environments.

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Tiziana Life Sciences Ltd (NASDAQ:TLSA) said the last patient in its Phase 2a clinical trial has received a first dose of intranasal foralumab for the treatment of non-active Secondary Progressive Multiple Sclerosis (na-SPMS), with topline data expected in late Q3 or early Q4 2026.

The company said results are planned to be presented at the 10th joint ACTRIMS-ECTRIMS meeting in Toronto in October 2026.

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Power Metallic Mines Inc (TSX-V:PNPN, FRA:IVV1, OTCQB:PNPNF) has tapped former NextOre CEO Christopher Beal as vice president of operations to lead the company toward a development decision on its high-grade Nisk polymetallic project.

Beal brings more than 15 years of experience in mining operations, technology commercialization, corporate development, and capital markets. At NextOre, he grew the magnetic resonance sorting technology company from zero to a $131 million market capitalization, raising $17.9 million across four capital rounds and securing operational contracts across Australia, the Philippines, Chile, Mexico, and Zambia.

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HIVE Digital Technologies Ltd (TSX:HIVE, NASDAQ:HIVE, FRA:YO0, BVC:HIVECO) announced that it has signed a non-binding letter of intent with an investment-grade sovereign Swedish technology company for a potential lease of its 32-megawatt data center in Boden, Sweden, for a term of up to 10 years.

The announcement follows the June 18 approval by the Boden Municipal Council of HIVE's acquisition of the facility from Bodens Utvecklings AB.

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Tertiary Minerals PLC (AIM:TYM, OTC:TTIRF, FRA:TMU), the junior exploration company, has started drilling at its Target A1 silver oxide discovery within the Mushima North project in northwest Zambia.

The 4,000-metre reverse circulation programme is the largest the company has undertaken in Zambia to date.

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Li-S Energy Ltd (ASX:LIS, OTC:LISXF, FRA:9GQ) has shipped its first commercial order of Australian-produced lithium metal foil and secured ISO 9001:2015 certification for its lithium foil production line in Geelong, Victoria.

The order, supplied to a leading Australian battery research institution, marks the company’s first external commercial validation of its locally produced lithium foil and opens a potential new revenue stream in battery materials.

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Noble Helium Ltd (ASX:NHE, OTC:NBHEF) has refined its upcoming Kinambo helium drilling campaign in Tanzania after 3D seismic reprocessing and gravity anomaly analysis identified 2 optimised firm well locations and reduced operational risk.

The work has prompted a modification to the first well location at Kinambo, on the western flank of the company’s 100%-owned North Rukwa Project, with rig mobilisation now expected in July 2026 and the Kinambo-1 well scheduled to spud in August 2026.

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Cyprium Metals Ltd (ASX:CYM, OTCQB:CYPMF) has advanced the Phase 1 Cathode Restart at its Nifty Copper Complex in Western Australia, with work shifting from construction and refurbishment toward practical completion, commissioning and operational readiness.

The company said the June quarter to date had been a period of intensive execution across acid storage, ponds, heap leach, solvent extraction, electrowinning, solution handling, filtration, firewater and electrical systems at Nifty.

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Provaris Energy Ltd (ASX:PV1, OTC:GBBLF) has completed a major front-end engineering design (FEED) milestone for its proprietary YP-Provaris low-pressure liquefied carbon dioxide (LCO₂) tank, advancing the technology through DNV’s approval process for maritime applications.

The company has submitted a detailed engineering package to DNV to support the General Approval for Ship Application (GASA) review, with the design review targeted for completion in August 2026.

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