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The Markets
by Proactive
Proactive UK has moved.
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Archive

The Small Cap Wrap: Quarterlies, acquisitions and biotech breakthroughs

AuMEGA Metals Ltd (ASX:AAM, TSX:AUM, OTCQB:AUMMF, FRA:FRA: MA30) has launched diamond drilling at the Isle aux Morts Granite and Cape Ray West in Newfoundland and Labrador, marking the first tests of several priority exploration targets along the Cape Ray Shear Zone.

The campaign represents the opening phase of AuMEGA’s 2026 drilling program and will investigate areas that have never previously been drilled.

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NextSource Materials Inc. (TSX:NEXT, OTCQB:NSRCF) has reported positive results from an updated feasibility study for a proposed Phase 2 expansion of its Molo Graphite Mine in southern Madagascar, outlining plans to increase production capacity to 150,000 tonnes per year of flake graphite concentrate over a 37-year mine life.

The feasibility study envisions a staged expansion beyond the existing Phase 1 operation through the construction of three new 50,000-tonne-per-year processing modules in two phases.

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Evolution Mining Ltd (ASX:EVN) has agreed to acquire Carnaby Resources Ltd (ASX:CNB, FRA:1FI) in an all-scrip transaction valued at about A$213 million, strengthening its copper growth pipeline around the Ernest Henry operations in Queensland.

The deal will add Carnaby’s advanced Greater Duchess Copper-Gold Project to Evolution’s regional portfolio, giving the major miner access to a copper-rich development opportunity close to its existing processing infrastructure.

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Millions of mobile devices across Australia are expected to sound a loud emergency alarm today as the Federal Government conducts the first nationwide test of AusAlert, its new cell-broadcast public warning system.

The test alert will be transmitted at 2 pm AEST on Monday, July 27, equivalent to 1.30 pm in South Australia and the Northern Territory and midday in Western Australia. Most compatible smartphones, as well as some tablets and smartwatches, will vibrate, display a test notification and emit a siren-like sound for around 10 seconds.

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Imricor Medical Systems Ltd (ASX:IMR) has launched its US commercial operations after securing Rady Children’s Hospital–San Diego as the first American hospital to purchase its NorthStar® interventional magnetic resonance mapping and guidance system.

The agreement follows US Food and Drug Administration 510(k) clearances for NorthStar and the Vision-MR® Diagnostic Catheter, as well as subsequent pediatric label expansions permitting both products to be used in patients of all ages.

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Ballard Mining Ltd (ASX:BM1) has reported its strongest gold intersection to date at the Mt Ida Gold Project in Western Australia, with drilling at the West Knell prospect returning 9 metres at 27.1 g/t gold from 191 metres.

The high-grade result, equivalent to 244 gram-metres, was recorded in drill hole WKEX101 and sits outside the current West Knell mineral resource envelope, highlighting potential for further resource growth along the underexplored Ballard Fault Zone.

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Myer Holdings Ltd (ASX) shares fell sharply after the retailer warned that a volatile second half and a material downturn in consumer sentiment had weighed on sales and margins ahead of its FY26 results.

The department store group said total sales, including concessions, reached A$4.09 billion, up 11.3% on an actual basis following the inclusion of a full year of earnings from Myer Apparel Brands.

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Woodside Energy Group Ltd (ASX:WDS, LSE:WDS, OTC:WOPEF) has secured a major regulatory boost for its proposed Browse to North West Shelf development after the Western Australian government declared the project a State Significant Project.

The designation gives Australia’s largest undeveloped offshore gas resource the highest level of priority under Western Australia’s approvals framework, signalling strong government support for accelerating new gas supply.

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Astral Resources NL (ASX:AAR) strengthened the development case for its flagship Mandilla Gold Project during the June 2026 quarter, delivering an updated 1.74-million-ounce Mineral Resource, completing almost 19,600 metres of drilling and progressing the definitive feasibility study towards a targeted March quarter 2027 completion.

The company also advanced a potential early-production opportunity at the Think Big deposit within its Feysville Gold Project and ended the quarter with approximately A$65 million in cash, leaving it well funded to continue drilling, technical studies and project approvals.

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Josh Gilbert, lead Analyst for APAC at eToro Group Ltd (Unlisted (US):ETRO), shares his three things to watch in Australia in the coming days.

The RBA does not meet until August 11th, but next week could go a long way toward deciding how that meeting plays out. Governor Michele Bullock speaks on Tuesday, the Q2 inflation report lands on Wednesday, and producer prices plus an address from Assistant Governor Sarah Hunter close out the week on Friday. By the weekend, markets will have a far better sense of whether a fourth hike for the year is coming in August.

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Lumos Diagnostics Holdings Ltd (ASX:LDX, OTC:LDXHF) finished the fourth quarter of FY26 with strong full-year growth from its flagship FebriDx® rapid diagnostic test, expanding US commercial adoption and closing the period with US$15.4 million in cash.

Unaudited FY26 revenue increased 6% on the previous corresponding period to US$13.2 million, supported by an 875% surge in FebriDx revenue to US$3.9 million as orders increased under Lumos’ exclusive US distribution agreement with PHASE Scientific.

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Kingfisher Mining Ltd (ASX:KFM) strengthened its Broken Hill copper-gold and base metals portfolio during the June 2026 quarter, completing 24 reverse circulation drill holes for 2,962 metres across Copper Blow, Stephens Trig and Allendale.

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Critical Resources Ltd (ASX:CRR, FRA:9S70) strengthened its diversified critical minerals and technology portfolio during the June 2026 quarter, delivering high-grade tungsten and gold results in New Zealand, expanding lithium targets at Mavis Lake in Canada and progressing its solid-state battery program into full-format pouch-cell testing.

The company ended the quarter with A$1.2 million in cash and cash equivalents after completing field programs across several exploration assets and advancing permitting and technology evaluation workstreams.

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Riversgold Ltd (ASX:RGL, FRA:RGV, OTC:RVSGF) has reported positive outcomes from technical studies supporting mining permit applications for the Northern Zone Gold Project near Kalgoorlie, with no material geotechnical, groundwater or acid mine drainage risks identified.

The results advance preparation of the project’s Native Vegetation Clearing Permit and Mine Development and Closure Proposal, which are required before mining operations can begin at the proposed open pit development, 25 kilometres east of Kalgoorlie in Western Australia.

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