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The Markets
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The Markets
by Proactive
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Small cap wrap: Sintana Energy, EnWave, Nine Mile Metals, Dune Oil...

Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) said its second quarter was its “best quarter yet”, with adjusted EBITDA rising 300% year on year to US$25.1 million as revenue more than doubled.

Revenue net of royalties increased 116% to US$34.2 million, while average production climbed 30% to 4,902 barrels of oil equivalent per day and was 4% higher than the first quarter. Growth was driven by additional volumes from the Mateguafa Attic and newly discovered Icaco fields in Colombia’s Tapir block.

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Sintana Energy Inc (TSX-V:SEI, OTCQB:SEUSF, FRA:3ZX1, AIM:SEI) noted its cash balance rose to US$15.5 million at the end of June, giving the Atlantic Margin explorer funding for its currently committed activities over the next 12 months as several drilling and seismic catalysts approach.

The explorer, in its interim results statement, reported it ash increased from US$10.3 million at the end of 2025 after the company completed an US$11.5 million gross fundraising in May. Sintana remains debt-free and also has access to an undrawn US$4 million working-capital facility. A further US$6 million is expected from ExxonMobil before year-end, subject to Colombian government approvals relating to the VMM-37 settlement.

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Nine Mile Metals Ltd. (CSE:NINE, OTCID:VMSXF, FRA:KQ9) has reported assay results from drill hole DDH WD-26-10 at the Wedge Mine in New Brunswick's Bathurst Mining Camp, with the hole intersecting a 31.95-metre massive sulphide zone grading 2.52% copper equivalent.

The hole was collared in the southwest at the edge of the company's drill pattern and was drilled to a depth of 224 metres. The mineralized interval, from 109 to 140.95 metres, averaged 0.93% copper, 0.57% lead, 2.23% zinc, 24.89 grams per tonne silver and 0.49 grams per tonne gold.

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Percheron Therapeutics Ltd (ASX:PER, OTC:PERCF) has entered a clinical research agreement with Vanderbilt Health in the US for a new multi-centre trial of its lead cancer therapy HMBD-002 in acute myeloid leukaemia (AML) and myelodysplastic syndrome (MDS).

The investigator-sponsored study will assess HMBD-002 in combination with standard-of-care treatments in patients with high-risk AML/MDS.

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Dune Oil Corp (CSE:DUNE, OTCQB:TRLEF, FRA:Z620) announced that it has appointed Neil Maedel to its board of directors and Jordan Coleman as chief operating officer, while naming President Scott Lower as chief executive officer.

Maedel joins the board with more than 45 years of experience in capital markets, investment banking and the international resource sector. His career includes roles with RBC Dominion Securities and Haywood Securities, as well as founding Zurich-based ProTrader Finanz AG, which assisted with financing and analysis for small-cap oil and gas and mining companies.

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Snail Inc (NASDAQ:SNAL) opened Gamescom 2026 by unveiling "9 Yin Sutra: Wuxia," a new AAA title expanding its Age of Wushu franchise, alongside a companion title, "9 Yin Sutra: Immortal," offering a more fantastical take on the same IP.

The company also showed a new trailer for another internally developed game, "For The Stars," and offered media exclusive hands-on demos.

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Krait Critical Minerals (CSE: KRIT) has updated shareholders on plans to advance its Goldbar Spider Lake project in northern Ontario.

The company has completed an airborne geophysical survey and an updated technical report, which recommends a $250,480 exploration program to advance priority targets, part of a broader strategy focused on gold and base-metal mineralization at the project.

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EnWave Corp (TSX-V:ENW, OTC:NWVCF, FRA:E4U) said Thursday it is winding down its REVworx co-manufacturing operations, a move expected to cut annual operating costs by about $1 million and materially improve net income.

The restructuring reflects the growing maturity of EnWave's Radiant Energy Vacuum drying technology, which the company said has reduced the need for internal co-manufacturing to support customer testing and validation.

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Shares in Thruvision Group PLC (AIM:THRU, OTC:DIGTF), the walk-through security screening company listed on AIM, rose 14% to 1.40p on Thursday.

The move followed news of a new order in Canada, marking Thruvision's first government customer in the country and its first deployment in Canada's entrance security market.

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St George Mining Ltd (ASX:SGQ, OTC:SGQMF) has entered a collaboration with the State of Minas Gerais and Brazilian industrial group Lima & Pergher to assess the development of a rare earths processing centre that could form a key part of Brazil’s domestic mine-to-magnet supply chain.

The proposed Minas Gerais Rare Earths Processing Centre would process material from emerging projects across the state, including St George’s Araxá Rare Earths-Niobium Project, and could produce refined materials suitable for downstream magnet manufacturing.

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Greatland Resources Ltd (AIM:GGP, OTC:GRLGF, ASX:GGP) has delivered a net profit after tax of A$862 million in its first full financial year owning the Telfer gold-copper operation, supported by strong production, higher metal prices and substantial cash generation.

Revenue for the year to June 30, 2026, reached A$2.26 billion, up 136%, while EBITDA increased 186% to A$1.33 billion. Free cash flow jumped 413% to A$737 million, helping lift closing cash to $1.29 billion.

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The Markets
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