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The Markets
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The Markets
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The Markets
by Proactive
Proactive UK has moved.
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Small cap wrap: First Phosphate, American Resources, Digi Power X, GMG...

Horizon Gold Ltd (ASX:HRN, OTC:HZGLF) has returned a series of strong gold intercepts from reverse circulation (RC) drilling at its 100%-owned Gum Creek Gold Project in Western Australia, extending mineralisation at Howards, Heron South and Melbourne Bitter and strengthening the potential for resource growth ahead of updated estimates.

At Howards, drilling confirmed an 800-metre southern extension to known gold mineralisation, with gold intersected in every hole drilled on 100-metre-spaced lines across the extension.

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The Australian small-cap market strengthened on Monday, with the S&P/ASX Small Ordinaries (XSO) closing at 3,567.00, up 16.50 points or 0.46% for the session.

The index has now gained 46.50 points or 1.32% over the past five trading days, maintaining positive momentum as investors continue to look across the smaller end of the market for growth opportunities.

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Wall Street finished Monday on a mixed note, with renewed weakness in technology and semiconductor stocks pulling the Nasdaq and S&P 500 lower while the Dow Jones Industrial Average managed a modest gain.

The Dow rose 140 points, or 0.3%, to close at 53,417. The S&P 500 fell 22 points, or 0.3%, to 7,653, while the tech-heavy Nasdaq dropped 200 points, or 0.8%, to 25,980.

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First Phosphate Corp. (CSE:PHOS, OTCQX:FRSPF, FRA:KD0, OTC:FPHOY, NASDAQ:PHOS) has filed an updated mineral resource estimate for its Bégin-Lamarche phosphate project in Quebec, showing a 378% increase in indicated resources compared with the company's initial estimate.

The technical report outlines a measured pit-constrained resource of 6.2 million tonnes grading 7.70% P2O5, an indicated resource of 198.5 million tonnes grading 6% P2O5, and an inferred resource of 89.5 million tonnes grading 6.16% P2O5. The deposit remains open at depth.

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Digi Power X Inc (NASDAQ:DGXX, FRA:1NQ0, NEO:DGX) insiders bought shares in back-to-back open-market purchases this week, according to regulatory filings.

President and director Amar Alec purchased 10,000 subordinate voting shares on August 20 at a weighted average price of $3.86 per share, with individual trades ranging from $3.84 to $3.88. The purchase brings Alec's directly held subordinate voting shares to just under 1.4 million. He also holds 45,000 subordinate voting shares indirectly through Matbrands LLC.

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Tiziana Life Sciences Ltd (NASDAQ:TLSA) announced that it will present a poster on its Phase 2a BANYAN clinical trial of intranasal foralumab at ALS Nexus 2026 in Orlando, Florida, on Monday.

The presentation, titled “Phase 2a Trial of Intranasal Foralumab – BANYAN, a Healey ALS MyMatch Trial,” is scheduled for 4:30 pm to 6:30 pm Eastern Time during the Scientific Poster Session.

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American Resources Corp (NASDAQ:AREC)'s ReElement Technologies Corporation has hired seven professionals to strengthen operational leadership at its Marion, Indiana rare earth and critical mineral refining campus.

The additions bring experience from the US Navy, large-scale continuous-process manufacturing, mining and process engineering, chemical engineering research, manufacturing workforce development and international commercial markets, the company said.

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Graphene Manufacturing Group Ltd (TSX-V:GMG, OTCQX:GMGMF) has launched G FLUID, a patent-pending graphene water-based additive designed for use in data centre and industrial cooling circuits to increase heat transfer and reduce microbial and bacterial growth.

The initial G FLUID product is being offered in a 1-litre package used as a 1:100 concentrate, with one litre added to 100 litres of coolant. GMG cited the global cooling water treatment chemicals market at approximately US$15 billion in 2026, with the market expected to reach US$27.2 billion by 2035, representing a 6.1% compound annual growth rate.

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Shares in Iofina PLC (AIM:IOF, OTC:IOFNF), the iodine producer and specialty chemicals manufacturer, rose 4.4% to 52.2p after it said it had fully installed an additional brine water source at its IO#11 plant, a move it expects to lift crystalline iodine output there by half.

The company said the extra supply should add roughly 45 to 65 metric tonnes of crystalline iodine a year once running at full capacity.

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Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF, FRA:VD5N) has approved additional engineering and well work at its Paradox project in Utah as it prepares for initial gas-processing capacity of up to 15 million standard cubic feet per day, three times its earlier 5 mmscf/d base case.

The work will be funded from existing cash and run in parallel with Enbridge’s regulatory process to uprate operating pressures on the 16-inch pipeline that will carry Zephyr’s gas into the Williams-operated Northwest Pipeline system.

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NewPeak Metals Ltd (ASX:NPM, OTC:NPMFF, FRA:NPM) has strengthened the case for a large-scale gold-polymetallic system at its 100%-owned Las Opeñas Project in Argentina after a second drill hole returned more than 650 metres of continuous mineralisation from surface.

Hole LODH-027 returned 657 metres at 0.30 g/t gold equivalent (AuEq) from surface, including 0.10 g/t gold, 0.51% zinc, 3.14 g/t silver and 0.14% lead. Higher-grade sections included 117 metres at 0.60 g/t AuEq from 77 metres, 202 metres at 0.50 g/t AuEq from 77 metres and 284 metres at 0.40 g/t AuEq from 77 metres.

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Tertiary Minerals PLC (AIM:TYM, OTC:TTIRF, FRA:TMU) said final preliminary results from its Phase 4 drilling programme at Mushima North in Zambia continued to support the scale of its Discovery Zone as it moves towards a maiden mineral resource estimate this year.

At Target A1, broad copper intersections included 66 metres grading 0.30% copper from 14 metres downhole and 68 metres at 0.28% copper from 13 metres. Higher-grade sections included 7 metres at 0.52% copper and 5 metres at 0.57%.

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Resolution Minerals Ltd (ASX:RML, OTCQB:RLMLF, FRA:NC3) has confirmed a major extension to gold mineralisation at Golden Gate South within its 100%-owned Horse Heaven Project in Idaho, with the first three holes of its 2026 diamond drilling program all intersecting near-surface gold.

The standout result was 305.7 metres at 0.64 g/t gold from surface in hole HH-GG26-003C, extending mineralisation at least two kilometres south of Golden Gate North and supporting what the company describes as “discovery status” for Golden Gate South.

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