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The Small cap Weekly Wrap: Defence contracts, cancer treatment breakthroughs and more...

Canyon Resources Ltd (ASX:CAY) has appointed Rory McGoldrick as non-executive director as the company builds board and operational capability ahead of its targeted first bauxite shipment in the fourth quarter of 2026.

The appointment is effective from July 2, 2026, and comes as Canyon continues to advance toward the commencement of mining and its ambition to become a major ASX-listed bauxite producer.

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Perpetual Ltd has rejected an unsolicited takeover proposal from an EQT Partners-controlled subsidiary, saying the more than $2.5 billion offer did not adequately value the listed wealth manager.

The indicative proposal came from Windflower Pte Limited at $21.64 per share, representing a premium of almost 40% to Perpetual’s $15.50 closing price on Tuesday.

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Northern Star Resources Ltd (ASX:NST) has appointed Glencore executive Suresh Vadnagra as managing director and chief executive, moving to reset leadership at the under-pressure gold miner as it faces investor criticism over performance, disclosures and project delivery.

Vadnagra will succeed Stuart Tonkin in October, while chief financial officer Ryan Gurner will serve as interim chief executive until he starts. The company also confirmed chairman Michael Chaney will retire in November, with director Michael Ashforth to take over the role as part of a planned succession.

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Nova Minerals Corp (ASX:NVA, NYSE-A:NVA, FRA:QM30) has strengthened its board with the appointment of former JP Morgan metals and mining professional Joshua Girnun as the company advances its US-focused critical minerals strategy and Estelle Gold and Critical Minerals Project in Alaska.

Girnun’s appointment, effective July 1, 2026, comes as Nova moves through what it describes as a pivotal execution phase following its redomiciliation from Australia to the United States. The company said the move was designed to better align its corporate structure with its predominantly US asset base, broaden access to American government and institutional capital and support potential index inclusion.

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Cauldron Energy Ltd (ASX:CXU) has strengthened the scale case for its 100%-owned Yanrey Uranium Project in Western Australia, releasing a revised JORC-compliant Exploration Target of 89.7 million to 269.0 million pounds of eU₃O₈ across part of its broader tenement package.

The updated target covers a subset of Yanrey exploration tenements extending from the North West Coastal Highway to the Ashburton River, representing the western portion of the company’s holdings. It comprises 30 discrete prospective areas and incorporates results from 2024 and 2025 drilling, as well as passive seismic surveys completed in 2024, 2025 and 2026.

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Lindian Resources Ltd (ASX:LIN, OTC:LINIF) has completed the first production blast at its Kangankunde Rare Earths Project in Malawi, marking the start of active mining and a major step in its transition from developer to rare earth producer.

The maiden blast was drilled, charged and fired across 206 blast holes, fragmenting about 13,100 tonnes of material, including an estimated 5,500 tonnes of ore.

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Intelligent Monitoring Group Ltd (ASX:IMB, OTC:THRTF, FRA:8YM) has entered a binding agreement to acquire ADT’s residential security business in the United Kingdom for £180 million (AU$347,094), marking a major international expansion and a substantial uplift in recurring revenue.

The acquisition of ADT UK Residential from a subsidiary of Johnson Controls International PLC (NYSE:JCI) will be funded through £155 million in cash and £25 million in IMG shares, subject to customary completion adjustments.

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Bitcoin miners are increasingly repurposing power-hungry sites for artificial intelligence and high-performance computing as crypto mining economics tighten, and demand for AI infrastructure accelerates.

Major bitcoin mining operators are shifting energy facilities, network infrastructure and data centre capacity toward AI and HPC workloads, with the industry’s key bottleneck now less about chips and more about access to grid-connected electricity, cooling, substations and permits, according to CoinTelegraph.

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Krakatoa Resources Ltd (ASX:KTA) has kicked off its second field season at the Zopkhito Antimony-Gold Project in Georgia, with underground core sampling drilling now underway as the company targets a maiden JORC-compliant mineral resource estimate.

The program is focused on known mineralised antimony and gold veins within historical underground workings, with underground panel sampling and bulk sampling expected to begin in the coming weeks.

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FireFly Metals Ltd (ASX:FFM, TSX:FFM, OTC:FFMFF) has delivered another strong batch of drilling results from the Green Bay Copper-Gold Project in Newfoundland and Labrador, Canada, with assays reinforcing the continuity and grade of the project’s high-grade core zone.

The latest results, including 42 metres at 6.1% copper equivalent (CuEq) and 51.5 metres at 4.9% CuEq, will be incorporated into an updated resource model underpinning economic studies for the potential upscaled restart of mining at Green Bay.

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Altech Batteries Ltd (ASX:ATC, OTC:ALTHF, FRA:A3Y) has received an extension to the financial close deadline attached to a conditional €46.7 million German Government grant for its CERENERGY® Sodium Chloride Solid State battery project in Saxony, Germany.

The German Federal Ministry for Economic Affairs and Energy had extended the deadline for achieving full project financial close from June 30, 2026, to September 30, 2026. The grant approval covers about 30% of eligible project capital expenditure, with funding of up to €46.7 million.

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Critical Resources Ltd (ASX:CRR) has received independent peer-reviewed validation for its optioned dry supersonic deposition (DSD) cathode manufacturing technology, strengthening the company’s push to commercialise battery materials and manufacturing intellectual property through a licensing model.

The research, published in international journal Electrochimica Acta, confirms the DSD process as a solvent-free, binder-free and single-step cathode manufacturing method, with early testing showing coulombic efficiency above 99.5% over 500 cycles.

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Shares in Goldplat PLC (AIM:GDP) rose 6% to 16.7p after the AIM-listed gold recovery services group said profits for the year to 30 June would materially exceed market expectations.

The company pointed to sustained high gold prices and strong processing volumes, though it cautioned the guidance remained subject to year-end adjustments.

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Lode Resources Ltd (ASX:LDR) has returned a fresh round of gold intercepts from ongoing reverse circulation drilling at its 100%-owned Uralla Gold Project in northern New South Wales, reinforcing the company’s view that the project may host a larger Intrusive Related Gold System (IRGS).

The latest follow-up scout drilling delivered 23 new gold mineralisation intercepts across multiple prospects, confirming broad, near-surface mineralisation and adding support to the emerging IRGS model at Uralla.

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Broken Hill Mines Ltd (ASX:BHM, FRA:662) has delivered first silver-lead-zinc ore from the restarted Edwards Open Pit at the Pinnacles Mine, marking the return of Pinnacles operations for the first time since 2021 and a key step in the company’s hub-and-spoke strategy around its Rasp Processing Plant.

The first ore has been crushed and hauled about 15 kilometres to BHM’s 100%-owned 750,000 tonnes per annum Rasp Processing Plant, providing a third high-grade bulk ore source alongside Main Lode and the long-term Western Min ore supply.

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Apple is accelerating the release of critical security updates as the rise of AI-powered cyber threats shortens the window companies have to protect users.

The company has begun pushing some security fixes earlier than it previously would have, rather than holding them for larger scheduled operating system releases.

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archTIS Ltd (ASX:AR9, OTCQB:ARHLF) has secured a A$3.2 million contract with the Australian Department of Defence, renewing licensing for its Kojensi Enterprise platform and adding significant application development and maintenance services.

The award, made under archTIS’ existing ICT Provider Arrangement Deed of Standing Offer with Defence, includes A$1.0 million in annual recurring software licences and A$2.2 million in application development and maintenance services.

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International Graphite Ltd (ASX:IG6, FRA:H99, OTC:IGRPF) has strengthened its board and strategic investor base with the appointment of Xcelsior Capital chief executive officer Liam Farley as a non-executive director, alongside an increase in its recent placement to $4.4 million.

The appointment brings added investment, commercial and supply chain experience to IG6 at a key point in its development, as the company advances graphite processing operations in Western Australia and Europe.

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Lightning Minerals Ltd (ASX:L1M) has confirmed the presence of rhyolite intrusion-hosted gold mineralisation from an independent study at the Mt Turner Gold Project in northern Queensland.

The company received the independent validation of its exploration model from a University of New South Wales petrology study ahead of July drilling.

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Just a day after reporting the first complete response in the concurrent Bruton Tyrosine Kinase inhibitor (BTKi) cohort of its ongoing Phase 1b azer-cel trial, Imugene Ltd (ASX:IMU, OTC:IUGNF, FRA:ILA) has reported a second complete response, adding momentum to an early clinical signal in patients with limited remaining treatment options.

The latest response was recorded in the first mantle cell lymphoma (MCL) patient treated in the azer-cel Phase 1b study. The patient had previously received and failed BTKi therapy before achieving a complete response at the Day 28 assessment.

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Resolution Minerals Ltd (ASX:RML, OTCQB:RLMLF) has completed 16 diamond core holes at the Golden Gate South prospect within its Horse Heaven Antimony-Tungsten-Gold-Silver Project in Idaho, marking strong progress in a major 2026 drill campaign targeting gold and tungsten extensions.

The company said 4,470 metres had been drilled across the completed holes, representing about one-third of the planned 13,700-metre program, with two drill rigs operating on site.

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Terrain Minerals Ltd (ASX:TMX, OTC:TMXAF, FRA:T4Y) has confirmed a broad clay-hosted rare earth system at its 100%-owned Lort River Project in Western Australia, with aircore drilling returning widespread mineralisation and a standout high-grade heavy-rare-earth interval.

Assays from a completed 35-hole aircore program identified total rare earth oxide (TREO) values above 200ppm in 25 holes, confirming mineralisation across a shallow system from surface to 87 metres downhole.

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St George Mining Ltd (ASX:SGQ, OTC:SGQMF) has delivered its thickest mineralised intercept to date at the 100%-owned Araxá Rare Earths and Niobium Project in Minas Gerais, Brazil, reinforcing the scale, continuity and open-pit potential of the high-grade system.

The standout result came from diamond hole AXDD120, which intersected 199.5 metres of continuous mineralisation from surface at 2.86% total rare earth oxides (TREO) and 0.44% niobium oxide (Nb₂O₅), including 60 metres at 3.96% TREO and 0.52% Nb₂O₅ from surface.

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BOA Resources Ltd (ASX:BOA) has appointed experienced geologist Graeme Purcell as managing director, positioning the company for its next phase of copper exploration following the transformational acquisition of the Thaduna and Green Dragon copper deposits in Western Australia.

Purcell, who has been on the BOA board since 2021, steps into the role immediately, while Cath Norman will move from managing director and chair to non-executive chair. He brings 30 years of Australian and international exploration experience across gold, base metals and strategic minerals, with previous roles at Plutonic Resources, Homestake Mining, Barrick Gold, Black Fire Minerals and as a consultant.

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Recce Pharmaceuticals Ltd (ASX:RCE, OTC:RECEF) has strengthened its balance sheet with the receipt of a A$3.67 million income tax refund from the Australian Taxation Office (ATO), adding further non-dilutive funding as the company advances its synthetic anti-infective pipeline toward key Phase 3 clinical milestones.

The refund relates to the financial year ended June 30, 2025, and comprises A$3.57 million in overseas research and development expenditure, plus A$95,826 in interest paid by the ATO.

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Nexus Minerals Ltd (ASX:NXM) (Nexus Minerals Ltd (ASX:NXM)) has strengthened the case for a maiden resource at the Clement Prospect within its Wallbrook Gold Project in Western Australia, after final reverse circulation (RC) assays returned broad, high-grade gold intercepts and confirmed the system remains open at depth.

The latest results cover the final 23 drill holes and four drill hole extensions from Clement, representing 4,239 metres of drilling.

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The S&P/ASX Small Ordinaries Index (XSO) edged lower in the latest session, slipping 7.50 points, or 0.22%, to 3,424.90.

The move extended recent weakness across the junior end of the market, with the index down 55.10 points, or 1.58%, over the past five trading days.

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Shares in Celsius Resources Ltd (ASX:CLA, AIM:CLA, FRA:FX8) jumped 78% to 0.008p after the company agreed to sell its Namibian cobalt-copper project to a subsidiary of Chinese mining giant Chinalco for $15 million.

Celsius, an Australian and London-listed explorer, has signed a binding agreement to sell its 95% interest in the Opuwo project in north-western Namibia to Chinalco (Xiong'an) Mining.

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Gelion PLC (AIM:GELN, OTC:GELNF, FRA:X0S), the sulfur battery company, has appointed Matthew Wood as chief executive as it shifts from technology development towards commercial scale-up.

He replaces John Wood, who retires from his full-time executive role with immediate effect and steps down from the board after a successful tenure.

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MLG OZ LTD (ASX:MLG) has been awarded a A$70 million open pit mining and crushing contract by DEVELOP GLOBAL LTD (ASX:DVP), marking a key step toward first lithium production and cashflow from the Pioneer Dome Lithium Project in Western Australia’s Eastern Goldfields.

The contract covers the Cade Pit, the inaugural mining stage at Pioneer Dome, and is expected to run for about 12 months, with MLG providing drill and blast, load and haul, crushing and screening, and other supporting surface activities.

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GCM Corp (ASX:GCM) has signed a binding 24-month Joint Development Agreement (JDA) with China-based thermal management manufacturer Shenzhen Wanwei Heat Conduction Technology Co., Ltd. (ALVC) to develop an integrated thermal management product combining ALVC’s vapour chamber technology with GCM’s VHD heat sink platform.

The agreement marks a third-party selection of GCM’s VHD technology, with ALVC choosing the company’s heat sink solution as an alternative to incumbent aluminium products after assessing its thermal performance characteristics.

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Environmental Clean Technologies Ltd (ASX:ECT, OTC:ECTHF) has submitted performance data for its Rapid Electrothermal Mineralisation (REM) technology to the United States Environmental Protection Agency, positioning the process as a potential solution for the safe destruction and disposal of PFAS “forever chemicals”.

The submission was made in response to the EPA’s Interim Guidance on the destruction and disposal of PFAS, a consultation opportunity that opens only once every four years. ECT said its submission presents REM against the EPA’s Section 5 evaluation framework, including technology readiness, destruction efficacy, fluorine mass balance, byproduct safety and regulatory relevance.

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Imugene Ltd (ASX:IMU, OTC:IUGNF, FRA:ILA) has reported the first complete response in the concurrent Bruton Tyrosine Kinase inhibitor (BTKi) cohort of its ongoing Phase 1b azer-cel trial, marking an early clinical signal in a patient group with limited remaining treatment options.

The first patient in the cohort, who had follicular lymphoma and had previously failed BTKi therapy, achieved a complete response at the Day 28 assessment.

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Peak Processing Ltd (ASX:PKP) has secured its first US brand-partner manufacturing agreement, signing a three-year exclusive deal to produce Fryday Kush® THC beverages across 13 US states.

The agreement, struck through wholly owned subsidiary Peak USA Inc. with BTAB Solutions Inc., gives Peak exclusive manufacturing rights for designated Fryday Kush THC beverage products in its US operating territory. The arrangement is binding, effective immediately and has no material conditions precedent.

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Cyprium Metals Ltd (ASX:CYM, OTCQB:CYPMF) last week outlined strong quarterly progress at its Nifty Copper Complex, with the company remaining on track for first cathode production in the September quarter of 2026.

Executive chairman Matt Fifield said the phase one restart is advancing steadily, with the project now approximately halfway complete in terms of planned hours and budget. He noted that significant progress had been made on heap leach infrastructure, while key capital equipment had begun arriving on site. Fifield described the team as “firing” despite a more complex global operating environment.

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Nova Minerals Corp (ASX:NVA, NYSE-A:NVA) high-grade gold concentrate of up to 26.7 g/t from flotation test work on low-grade ore from the Korbel deposit at its Estelle Gold and Critical Minerals Project in Alaska.

During the program, the company highlighted gold recoveries consistently above 95% at Korbel.

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Australia has emerged as one of the world’s best-prepared economies for the AI-driven future of work, ranking second globally in the QS World Future Skills Index 2027.

The index, released by higher education analytics firm QS Quacquarelli Symonds, assesses how well economies are developing, aligning and applying skills for a rapidly changing labour market. Australia finished behind only the United States, with a final score of 97.5, ahead of the United Kingdom, Germany and Canada.

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Orthocell Ltd (ASX:OCC, OTC:ORHHF) has expanded the humanitarian rollout of its nerve repair device, Remplir™, in Ukraine, following growing use of the product for severe peripheral nerve injuries caused by the ongoing conflict.

The regenerative medicine company said additional devices were now being shipped to Ukraine through a coordinated philanthropic initiative, after an initial deployment in April 2025 supported battlefield trauma programs.

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BOA Resources Ltd (ASX:BOA) will host an investor webinar to discuss its acquisition of the Thaduna and Green Dragon copper deposits and the consolidation of the Neds Creek Project in Western Australia, as well as upcoming activities.

Chair and managing director Cath Norman and non-executive director Graeme Purcell will deliver a presentation, followed by a question-and-answer session for investors.

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Askari Metals Ltd (ASX:AS2) has strengthened its government and community partnerships in Ethiopia as it advances exploration planning at its flagship Nejo Gold-Copper Project.

The company has received positive support for its planned exploration and development activities at Nejo, following ongoing engagement with local community leaders, regional authorities and Federal Government representatives in Ethiopia.

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Select Harvests Ltd (ASX) has appointed senior agribusiness executive Kristina Hermanson as managing director and chief executive officer, positioning one of Australia’s largest almond businesses for its next phase of growth and value creation.

Hermanson will start in the role on August 3, 2026, replacing current managing director and CEO David Surveyor, who will step down on July 31, 2026. She brings more than 25 years of global experience across agricultural processing, manufacturing, fast-moving consumer goods and institutional investment management.

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Pantera Minerals Ltd (ASX, OTCQB) has returned high-grade antimony, silver and base metal results from Phase 2 exploration at its 100%-owned Gillham Project in southwest Arkansas, strengthening the company’s view that the asset could host a district-scale polymetallic system.

The latest rock chip results included up to 19.2% antimony from Stewart North, 15% antimony from Antimony Bluff and 9.3% antimony from the May Prospect, alongside strong silver, zinc and lead values at Stewart.

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Investigator Silver Ltd (ASX:IVR, OTC:SUTAF, FRA:VOP) has strengthened its executive and project delivery capability as it moves the Paris Silver Project in South Australia toward development, following completion of a Definitive Feasibility Study (DFS) that confirmed a clear pathway for the project.

The DFS confirmed Paris as a robust and financeable silver development project capable of producing more than 30 million ounces of silver over an initial 11-year mine life.

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OpenAI and Broadcom have unveiled Jalapeño, OpenAI’s first custom “Intelligence Processor”, marking a major step in the company’s push to build more of the AI infrastructure stack behind ChatGPT, Codex, its API products and future agentic systems.

The chip has been designed specifically for large language model inference — the stage where trained AI models generate responses for users — rather than being adapted from general-purpose AI accelerators.

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Astral Resources NL (ASX:AAR) has identified additional broad zones of gold mineralisation at depth beneath the Theia deposit, reinforcing the growth potential of its 100%-owned Mandilla Gold Project near Kalgoorlie in Western Australia.

The latest assays come from two holes in Astral’s expanded 11-hole, 6,000-metre diamond drilling program targeting extensions to the cornerstone 1.4-million-ounce Theia deposit.

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Lumos Diagnostics Holdings Ltd (ASX:LDX, OTC:LDXHF) has received a A$709,837 cash refund under the Australian Government’s Research and Development Tax Incentive, strengthening its capacity to advance its rapid point-of-care diagnostic technology platforms.

The refund relates to eligible research and development expenditure for the FY25 financial year ended June 30, 2025, and is mainly associated with work on Lumos’ proprietary portable handheld and disposable reader technology platforms.

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International Graphite Ltd (ASX:IG6, FRA:H99, OTC:IGRPF) has taken a major step toward building its downstream graphite processing hub in Western Australia, signing the key construction contract for the process building at its new Collie Micronising Facility.

The contract has been awarded to Bunbury-based Prosser Built, a construction company with more than 80 years’ experience delivering industrial and commercial projects across Western Australia’s south-west.

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Greatland Resources Ltd (AIM:GGP, OTC:GRLGF, FRA:G8G, ASX:GGP) has increased its Group Ore Reserve by 62% to 5.0 million ounces of gold, marking a major step in its plan to build a long-life gold-copper operation around the Telfer mine and Havieron development in Western Australia’s Paterson Province.

The March 2026 Group Ore Reserve stands at 157 million tonnes at 0.99 g/t gold and 0.12% copper for 5.0 million ounces of gold and 196,000 tonnes of copper.

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Altech Batteries Ltd (ASX:ATC, OTC:ALTHF, FRA:A3Y) has completed the sale of its landholding at Meckering in Western Australia, generating gross proceeds of $950,000 and adding fresh working capital to the group.

The land, held through Altech Meckering Pty Ltd, had been deemed non-core by the board, with settlement now concluded.

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Aurum Resources Ltd (ASX:AUE) has delivered another round of high-grade gold results from the BDT2 deposit within its 3.22-million-ounce Boundiali Gold Project in Côte d’Ivoire, including a standout intercept of 1.7 metres at 70.35 g/t gold from 276.5 metres.

The result formed part of a broader intercept of 6.54 metres at 13.36 g/t gold from 272 metres, including 3.70 metres at 23.32 g/t gold from 274 metres in hole DSDD0445, with the latest assays coming from 26 diamond drill holes for 8,720.23 metres.

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