The S&P/ASX Small Ordinaries continued its positive run, rising 26.6 points, or 0.8%, to close yesterday at 3,341.2.
The small-cap benchmark has now gained 35.5 points, or 1.07%, over the past five trading days, reflecting steady investor interest across resources, healthcare and emerging technology stocks.
It's a quiet start to the day for new flow as Diggers and Dealers takes centre stage for resource companies. That said, Pantoro Gold is reporting exceptional drilling results, Lumos Diagnostics has secured a major US purchase order and Environmental Clean Technologies and Critica are advancing their respective technology and rare earth strategies. You can read about the following and more throughout the day.
Pantoro confirms high-grade Racetrack continuity
Pantoro Gold Ltd (ASX:PNR, OTC:PNTOF, FRA:RKN) has confirmed the continuity of high-grade mineralisation at the Racetrack discovery within its 100%-owned Norseman Gold Project in Western Australia.
Results from the second phase of infill drilling reinforced the potential for Racetrack to become a significant source of high-grade ore and support a material increase in production from the OK Underground Mine.
The standout intercept was 4.94 metres at 349.14 g/t gold from 603.02 metres, including 0.91 metres at 1,737.37 g/t and 0.43 metres at 80.67 g/t.
Pantoro also returned 20.36 metres at 15.55 g/t from 576.29 metres, including 5.94 metres at 43.1 g/t, along with 3.53 metres at 34.44 g/t from 496.72 metres.
Other results included 7.05 metres at 8.82 g/t and 1.85 metres at 11.62 g/t.
The company said the drilling had demonstrated strong mineralisation continuity within Racetrack’s Mainfield, further strengthening its position within Pantoro’s growing pipeline of underground mining opportunities.
Lumos receives US$768,000 FebriDx order
Lumos Diagnostics Holdings Ltd (ASX:LDX, OTC:LDXHF) has received a US$767,800 purchase order from PHASE Scientific for its FebriDx rapid point-of-care diagnostic test.
The order will be delivered progressively through to October 2026, with revenue recognised as products are shipped.
It represents the first purchase order associated with the US$5 million prepayment milestone Lumos received after FebriDx was granted a Clinical Laboratory Improvement Amendments waiver by the US Food and Drug Administration on March 27, 2026.
The regulatory clearance allows the test to be used in a broader range of healthcare settings, including doctors’ offices, clinics and other locations operating under a CLIA Certificate of Waiver.
FebriDx is designed to help healthcare professionals distinguish between bacterial and non-bacterial acute respiratory infections at the point of care, supporting more informed treatment decisions.
ECT expands into advanced materials
Environmental Clean Technologies Ltd (ASX:ECT, OTC:ECTHF) has entered a binding agreement to acquire 100% of Xenica Materials Pty Ltd, expanding its exposure to advanced materials produced using Flash Joule Heating technology.
Xenica holds an exclusive licence from William Marsh Rice University to use its proprietary Flash Joule Heating process for the production of MXenes and two-dimensional amorphous carbon.
The acquisition marks a significant step in ECT’s transition into a diversified technology company focused on commercial applications for the rapid electrical heating process.
ECT is already progressing applications for the technology in the remediation of per- and polyfluoroalkyl substances, commonly known as PFAS.
The Xenica acquisition adds exposure to advanced materials manufacturing and industrial processing opportunities.
MXenes are a high-performance class of materials with potential uses in electromagnetic shielding, radar and infrared absorption, advanced sensors, fast-charging batteries, water treatment and next-generation electronics.
However, commercial development has been constrained by reliance on hazardous and expensive acid-based production methods.
ECT believes Flash Joule Heating could replace these processes with a faster and lower-waste electrical alternative, potentially reducing production costs and supporting manufacturing at a larger scale.
Critica advances Jupiter processing optimisation
Critica Ltd (ASX:CRI, OTC:VTMLF) (Critica Ltd (ASX:CRI, OTC:VTMLF)) has reported further progress in the hydrometallurgical optimisation program for its Jupiter Rare Earth Project.
The latest work builds on earlier pilot programs that achieved about 81% recovery of magnet rare earth oxides and produced an intermediate concentrate grading about 3% total rare earth oxides.
Previous optimisation also delivered a roughly 14-times upgrade in concentrate grade and improved mass rejection, reducing the amount of material that needs to progress through more expensive downstream processing stages.
Critica has now extended its optimisation work into the hydrometallurgical circuit, with a particular focus on lowering sulphuric acid consumption during the acid-bake stage.
Reducing acid use could improve operating efficiency, lower processing costs and strengthen the broader economics of the Jupiter development pathway.
The company continues to refine the project’s flowsheet as it works to establish a scalable and potentially low-cost processing route for the large-scale rare earth system.