The S&P/ASX Small Ordinaries Index gained ground on Thursday, rising 5.4 points, or 0.16%, to close at 3,348.10.
Despite the daily advance, the index remained 15.3 points, or 0.45%, lower over the past five sessions, reflecting a mixed period for the smaller end of the Australian market.
Several small-cap companies have already reported funding and exploration developments across the resources sector. You can read about the following and more throughout the day.
Dalaroo completes A$1.75 million placement
Dalaroo Metals Ltd (ASX:DAL) completed the second tranche of its placement, raising approximately A$320,000 through participation by members of the company’s board.
The investment lifted total gross proceeds from the two-tranche placement to about A$1.75 million and demonstrated the board’s support for Dalaroo’s exploration strategy.
Funds will be used to advance the Bondoukou Gold Project in Côte d’Ivoire, progress the Blue Lagoon Rare Earth Project in Greenland and provide general working capital.
Aurum extends gold beyond Boundiali resource
Aurum Resources Ltd (ASX:AUE) reported further gold intercepts from its ongoing 100,000-metre diamond drilling program at the 3.22-million-ounce Boundiali Gold Project in Côte d’Ivoire.
The final batch of drilling at the BDT2 deposit comprised 10 holes for 3,565 metres, with mineralisation intersected outside the current resource and extended at depth.
Results included 0.61 metres at 47.60 g/t gold from 189.39 metres, 4.46 metres at 4.23 g/t from 90 metres, including 0.50 metres at 35.19 g/t, and 39 metres at 0.79 g/t from 372 metres, including 3 metres at 5.76 g/t.
Actinogen trial published in leading journal
Actinogen Medical Ltd (ASX:ACW, OTC:ATGGF) said results from its Phase 2 proof-of-concept trial of Xanamem, also known as emestedastat, in patients with major depressive disorder and cognitive impairment had been published in the peer-reviewed British Journal of Psychiatry.
The article concluded that Xanamem may represent a novel antidepressant worthy of further investigation, although additional trials will depend on future funding and partnership arrangements.
Researchers also found no correlation between improvements in cognition and improvements in depressive symptoms, challenging the previously held view that the two move together.
The article is available at: https://tinyurl.com/ckm63z63
Vault clears key Sugar Zone approvals
Vault Minerals Limited (ASX:VAU) received key regulatory approvals for the proposed Southern Tailings Management Facility at its Sugar Zone gold mine in Ontario, Canada.
The Ontario Ministry of Energy and Mines formally filed the project’s Closure Plan Amendment on July 16, while the Ministry of Environment, Conservation and Parks issued the final amended Environmental Compliance Approval on July 22.
The approvals allow tailings to be discharged into the new facility, which is expected to serve as the mine’s sole tailings storage facility over the life of the current ore reserve.
Vault said the development would provide a more capital-efficient and lower-cost operating solution than the previous combination of dry-stack tailings and slurry deposition.