The S&P/ASX Small Ordinaries Index (ASX: XSO) closed yesterday at 3,514.10 points, gaining 31.80 points or 0.91%.
The small-cap benchmark has risen 182.20 points, or 5.47%, over the past 5 trading days.
Several ASX-listed resources and services companies have released updates this morning covering gold exploration, capital raisings, critical minerals development, drilling preparations and new contract awards. You can read about the following and more throughout the day.
Aurum Resources extends gold mineralisation at Boundiali
Aurum Resources Ltd (ASX:AUE) has reported further gold intersections from its ongoing 100,000-metre diamond drilling program at the 3.22-million-ounce Boundiali Gold Project in Côte d’Ivoire.
The company received assay results from 36 diamond drill holes covering 9,452 metres across the BMT3, BMT2 and BMT1 deposits on the northern half of the BM tenement, in which Aurum holds an 80% interest.
Drilling included infill, step-out and extensional holes, with several intersections returned from outside the existing mineral resource boundaries.
At BMT3, which hosts 18.6 million tonnes at 1.3 g/t gold for 750,000 ounces, drilling returned 1.76 metres at 150.87 g/t gold from 485.94 metres, including 0.72 metres at 367.05 g/t.
Other BMT3 results included 15.50 metres at 3.88 g/t from 179 metres, including 9.50 metres at 6.04 g/t, and 10 metres at 3.46 g/t from 280 metres, including 8 metres at 4.24 g/t.
At BMT1, which contains 8.8 million tonnes at 1.1 g/t for 320,000 ounces, Aurum intersected 6.80 metres at 28.76 g/t from 120.20 metres, including 2.80 metres at 69.53 g/t.
Drilling at BMT2, where no resource has yet been defined, returned results including 15 metres at 1.05 g/t from 112 metres and 66.30 metres at 0.61 g/t from 129.70 metres.
The company said the results supported the potential to extend mineralisation and deliver further resource growth.
Krakatoa Resources secures $2.4 million placement
Krakatoa Resources Ltd (ASX:KTA) has received firm commitments to raise $2.4 million before costs through a share placement.
The company will issue about 400 million new shares at $0.006 each, with investors receiving 1 free-attaching unlisted option for every 4 shares subscribed.
The options will be exercisable at $0.01 and expire on September 29, 2028, subject to shareholder approval.
The placement was anchored by a $1.8 million investment from an unrelated private investment entity wholly owned by Hong Kong-based natural resources investor Hui Ling.
Following completion of the placement, the investment will represent about 14.9% of Krakatoa’s issued capital.
Resouro Strategic Metals expands private placement
Resouro Strategic Metals Inc (TSX-V:RMS, FRA:8TX, OTC:RSGOF, ASX:RAU) has completed the first closing of its expanded non-brokered private placement.
Following stronger-than-expected investor demand, the company increased the offering from 8 million shares to 10 million shares priced at C$0.25 each.
The revised placement is expected to raise aggregate gross proceeds of C$2.5 million, subject to acceptance by the TSX Venture Exchange.
During the first closing, Resouro issued 7.44 million shares at C$0.25, raising gross proceeds of C$1.86 million.
The remaining shares are expected to be issued shortly, with details of the second and final closing to be announced separately.
Rimfire Pacific strengthens board and raises $2.3 million
Rimfire Pacific Mining N L (ASX:RIM) has strengthened its board and leadership team while securing support for a $2.3 million capital raising.
The critical minerals explorer said the renewed leadership structure brought together technical, commercial and strategic experience to support the next stage of development across its Australian scandium portfolio.
Funds from the capital raising will be directed towards expanded drilling, resource growth and technical programs.
This work will include further development of Rimfire’s low-iron processing methodology as the company works to advance its scandium assets towards development.
Rimfire is targeting potential demand from sectors including advanced manufacturing, aerospace, defence and clean energy, amid an increased government and industry focus on securing critical mineral supply chains.
Invictus confirms November spud for Musuma-1
Invictus Energy Ltd (ASX:IVZ) has executed a deed of variation with Exalo Drilling SA for the use of Exalo Rig 202 at the Cabora Bassa Project in Zimbabwe.
The revised drilling contract, together with mobilisation arrangements for rig preparation and well services, allows the company to confirm that the high-impact Musuma-1 exploration well is scheduled to spud in November 2026.
Exalo will undertake a comprehensive maintenance and operational readiness campaign before moving and installing the rig at the drill site.
Invictus said procurement of the remaining well services was well advanced, with contracts being prepared for award ahead of equipment preparation and staged mobilisation.
Construction of the Musuma-1 well pad and associated civil works is expected to begin following customary cultural ceremonies with traditional leaders and local communities.
The company said the program had now moved into the execution phase.
Lycopodium (ASX:LYL) wins A$93 million Canadian gold contract
Lycopodium (ASX:LYL) has been awarded an engineering, procurement and construction management contract for Artemis Gold’s Expanded Phase 2 Project at the Blackwater Mine in Canada.
The EPCM contract is valued at about A$93 million, based on an exchange rate of A$1 to C$0.985, and forms part of Artemis Gold’s broader Phase 2 expansion budget.
Blackwater is an open-pit gold and silver operation in central British Columbia, about 160 kilometres southwest of Prince George.
Commercial production began in May 2025.
Once the mine’s multi-stage expansion program is completed, Blackwater is expected to have production capacity of 21 million tonnes per annum, which would position it among Canada’s 3 largest gold mines by processing capacity.