The S&P/ASX Small Ordinaries Index (ASX: XSO) closed Friday at 3,527.70 points, up 0.39% or 13.60 points for the session.
The small-cap benchmark has gained 6.77% or 223.70 points over the past five days, reflecting a stronger period for the broader junior end of the Australian market.
It has been a steady start to the week so far, with several ASX small-cap companies reporting project, corporate and transaction developments spanning gold, energy and rare earths. You can read about the following and more throughout the day.
Dalaroo Metals prepares for maiden Gold Ridge drilling
Dalaroo Metals Ltd (ASX:DAL) has completed initial drill pads and access routes at the Bondoukou Gold Ridge Project in Côte d’Ivoire, clearing the way for final rig mobilisation ahead of its maiden drilling campaign at the project.
The company’s fully funded 12,000-metre Phase 1 reverse circulation drilling program is scheduled to begin by August 15, 2026, targeting the Mag, Wilfred and Ali prospects.
The campaign will provide the first direct drilling test of the targets at depth, with initial assay results expected around four to six weeks after the first sample batches are submitted to the laboratory.
Dalaroo designed the program using soil and auger geochemistry, geological mapping, magnetic interpretation and the distribution of artisanal workings.
The combined datasets will be used to test geological and structural controls on gold mineralisation beneath extensive surface anomalies.
Leadership transition underway
In a separate corporate leadership development, Dr James Garner, chief executive officer and managing director since August 2023, will step down to pursue a professional opportunity overseas.
Garner will remain in the position until August 31, 2026, to support an orderly transition.
Dr Michael Baker has been appointed managing director and chief executive officer, effective October 5, 2026.
D3 Energy reaches total depth at second South African well
D3 Energy Ltd (ASX:D3E, OTCQX:DNRGF) has reached total depth at the second of 2 planned wells at Nooitgedacht within the ER315 permit in South Africa’s Free State.
The NGT245 D well was drilled to a total depth of 348 metres, with the company reporting that drilling was completed on time and within budget.
The program forms part of D3 Energy’s exploration and appraisal activities aimed at expanding its reserve base within ER315 and supporting the conversion of additional exploration rights into production rights.
Nooitgedacht lies around 43 kilometres north of the Bloemskraal area, where D3 Energy has already booked reserves supporting a Production Right application lodged in 2025.
The project is positioned along the Homestead Fault, which extends through the northern section of ER315.
Following completion of NGT245 D, the drill rig returned to the first well, NGT245 E, to install production casing while logging begins at NGT245 D.
The rig will then return to NGT245 D to install production casing once work at NGT245 E is complete.
Pilbara Gold secures broader access at Mt York
Pilbara Gold Ltd (ASX:PGL) has satisfied all conditions precedent under its Mineral Rights Agreement with PLS Group Ltd (ASX:PLS) covering areas within the company’s 2.1-million-ounce Mt York Gold Project.
The agreement was entered into in October 2025, with PLS granting Pilbara Gold early access to the Priority Area covering the Mt York Main Hill Extension prospect.
That early access allowed Pilbara Gold to begin drilling the area for the first time.
With the agreement now unconditional, PGL can explore all areas covered by 3 PLS exploration licences and 1 exploration licence application, once that tenure is granted and relevant activities have been authorised by PLS.
The expanded access covers exploration for both gold and base metals.
Lindian takes full ownership of Kazakhstan rare earths facility
Lindian Resources Ltd (ASX:LIN, OTC:LINIF) has acquired 100% of the SARECO mixed rare earths carbonate hydrometallurgical processing facility in Stepnogorsk, Kazakhstan, increasing its ownership from 51%.
The facility was previously owned and operated by Sumitomo Corporation and Kazatomprom and gives Lindian control of an established commercial-scale rare earths processing operation.
Lindian is targeting the start of mixed rare earths carbonate processing during Q4 2026, aligning with planned first production from the company’s Kangankunde Rare Earths Project.
The company said processing could potentially begin earlier through the use of available Kazakhstan feedstock sources and stockpiles.
Transaction documents, including the sale and purchase agreement, have been executed, while technical, legal, tax and environmental due diligence has also been completed.
Metallurgical test work has demonstrated 96% overall NdPr recovery from Kangankunde concentrate through to mixed rare earths carbonate, with the results independently validated by ANSTO and through production work undertaken at SARECO.