The S&P/ASX Small Ordinaries Index (ASX: XSO) rose 54.20 points or 1.63% to close at 3,385.70 yesterday. Over the past five days, the index has gained 48.10 points or 1.44%. The gains are reflected by strong newsflow on the small cap company front and today has kicked off well with several positive announcements.
AuKing advances Tick Hill gold JV
AuKing Mining Ltd (ASX:AKN) reported progress at its Tick Hill joint venture, including a feasibility study targeting early-stage gold production from historical tailings. The study builds on a 2020 pre-feasibility study (PFS) indicating strong technical and financial viability, with independent preliminary economic assessment (PEA) findings supporting further development. Test work is ongoing to optimise grind size, energy use and gold recoveries.
Alkane finalises Mandalay Resources merger
Alkane Resources Ltd (ASX:ALK, OTC:ALKEF) and Mandalay Resources Corporation (TSX: MND) have completed their merger via a Canadian statutory plan of arrangement. Mandalay shareholders will receive 7.875 Alkane shares for each Mandalay share. The combined entity, operating under the Alkane name, remains listed on the ASX and will be headquartered in Perth. The Toronto Stock Exchange has conditionally approved the listing of Alkane’s expanded share base.
Asian Battery Metals resumes drilling in Mongolia
Asian Battery Metals PLC (ASX:AZ9) has recommenced its Phase 3 drilling program at the Yambat tenement in Mongolia following completion of the SAMSON electromagnetic survey. The program targets priority conductive plates identified through the survey.
Kairos intersects new gold zone at Mt York
Kairos Minerals Ltd (ASX:KAI, OTCQB:KAIFF) announced results from 19 new diamond holes at its Mt York Gold Project in Western Australia, including a wide new zone of gold mineralisation. Drilling focused on Gossan Hill, Breccia Hill and Main Hill, where current resources stand at 1.4 million ounces of gold.
Iluka secures long-term rare earth supply from Lindian
Iluka Resources (ASX: ILU) has entered a 15-year agreement with Lindian Resources Ltd (ASX:LIN, OTC:LINIF) for the supply of 6,000 tonnes per annum of rare earth concentrate from the Kangankunde Mine in Malawi. The concentrate will supplement feedstock at Iluka’s Eneabba refinery and represents approximately 10% of its capacity.
Percheron shares new HMBD-002 cancer data
Percheron Therapeutics Ltd (ASX:PER, OTC:PERCF) released preclinical data on its investigational oncology drug HMBD-002, recently published in Cancer Research. The study, led by Professor Josh Gruber at the University of Texas Southwestern Medical Center, explores the role of VISTA in triple-negative breast cancer.