Skip to main content
The Markets by Proactive
Go to Proactive Australia

Archive

Small cap wrap: Namibia Critical Metals, Medicus Pharma, Greatland Resources...

New preclinical data for Percheron Therapeutics Ltd (ASX:PER, OTC:PERCF) investigational cancer therapy HMBD-002 has been accepted for presentation at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting in Chicago from May 29 to June 2.

The abstract was submitted by a research team at Brisbane-based QIMR Berghofer and reflects ongoing collaboration between the parties to investigate the role of VISTA across several cancer types and identify potential biomarkers for future clinical trials.

Read more

Tamboran Resources Corporation (NYSE:TBN, ASX:TBN, OTC:TBNRL, FRA:O8R) has agreed to farm down a portion of its Beetaloo Basin acreage to Daly Waters Energy (DWE), in a deal that values the assets at a premium and introduces up to US$28.5 million in funding support.

The agreement, struck with DWE’s owner Formentera Partners, covers around 10,000 acres across the Shenandoah North and South Pilot Areas and the Beetaloo Central Development Area (BCDA), and is designed to advance development of the basin while reducing Tamboran’s capital burden.

Read more

Namibia Critical Metals (TSX-V:NMI, OTCQB:NMREF) said it has agreed with joint venture partner Japan Organization for Metals and Energy Security to amend their earn-in agreement for the Lofdal heavy rare earths project in northwestern Namibia, adding funding to advance the project toward development.

Under the revised terms, JOGMEC will increase its earn-in expenditure commitment by C$3 million to support completion of a definitive feasibility study for the Lofdal 2B-4 deposit, alongside engineering, mine optimization and infrastructure planning work, the company said.

Read more

Medicus Pharma (NASDAQ:MDCX) announced that an independent assessment of its Phase 2 SkinJect study supports the clinical relevance of the data and continued development of the experimental therapy for non-melanoma skin cancer.

The evaluation was provided by Dr Babar Rao, principal investigator of the SKNJCT-003 trial, who described the dataset as “clinically meaningful” and supportive of further trials and regulatory engagement.

Read more

Shares in Spectra Systems Corporation (AIM:SPSY, OTC:SCTQ) rose 8% to 136p after the AIM-listed banknote authentication and security technology company reported a doubling of adjusted earnings per share following the first deliveries under a major sensor contract.

Revenue rose 30.7% to $64.3 million for the year ended 31 December 2025, while adjusted EBITDA (earnings before interest, tax, depreciation and amortisation, adjusted for non-cash items) surged 82.9% to $27.3 million and adjusted profit before tax and amortisation more than doubled to $25.2 million.

Read more

Shares in Altona Rare Earths rose 9% to 3.10p after the LSE-listed critical minerals explorer announced the publication of a request for proposals (RFP) to advance a US government-funded pre-feasibility study at its Monte Muambe rare earths project in Mozambique.

The RFP, published under a grant from the US Trade and Development Agency (USTDA), invites qualified American firms to undertake metallurgy and process engineering work at the project, located in the Tete Province of northwest Mozambique.

Read more

Directa Plus PLC (AIM:DCTA, OTC:DTPKF) shares fell 17.5% to 7.01p after the graphene products company warned it could be placed into administration if it fails to secure fresh funding within weeks.

The AIM-listed group said it was in advanced discussions with an unnamed institutional investor for a funding facility of up to £2.5 million to extend its cash runway, but cautioned there was "no certainty any funding transaction will be concluded".

Read more

Greatland Resources Ltd (AIM:GGP, OTC:GRLGF, FRA:G8G, ASX:GGP) has outlined a substantial new critical minerals asset within its Paterson Province portfolio, delivering a maiden mineral resource estimate for the O’Callaghans tungsten-copper-zinc-lead deposit in Western Australia.

The resource totals 70 million tonnes (Mt) at 0.35% tungsten trioxide (WO₃), alongside 0.30% copper, 0.57% zinc and 0.28% lead, positioning O’Callaghans as one of the largest high-grade tungsten deposits globally.

Read more

Shares in Greatland Resources Ltd (AIM:GGP, OTC:GRLGF, FRA:G8G, ASX:GGP) rose 7% to 545.45p after the AIM-listed gold and copper miner reported a 150% expansion in the mineral resource at its flagship Telfer operation in Western Australia, taking the total to 8 million ounces of gold.

The updated December 2025 estimate adds 4.8 million ounces at a discovery cost of approximately $5 per ounce, with the higher-confidence measured and indicated category growing 163% to 3.8 million ounces, providing a stronger foundation for mine planning and conversion into mineable reserves.

Read more

Shares in Mirriad Advertising PLC (AIM:MIRI, FRA:8WQ, OTCQX:MMDDF) fell 47% to 0.0029p after the AIM-listed virtual product placement company warned it will need to raise further funds before publishing its annual results, with cash standing at approximately £675,000 as of 27 March 2026.

Virtual product placement is a technology that digitally inserts branded products into video content after filming, allowing advertisers to reach audiences without traditional ad breaks.

Read more

Tertiary Minerals PLC (AIM:TYM, OTC:TTIRF, FRA:TMU) has published an exploration target for a silver, copper and zinc prospect in Zambia, estimating it could contain between 15 and 30 million tonnes of mineralisation at an average grade of 40 to 60 grams per tonne silver equivalent.

This is an early-stage estimate of the potential scale of a deposit, and further drilling is needed before the company can confirm whether economic quantities of metal are present.

Read more

Sintana Energy Inc (TSX-V:SEI, OTCQB:SEUSF, AIM:SEI) has reported a 57% increase in contingent resources at the Mopane oil complex off the coast of Namibia, lifting the explorer's net interest in the project to around 67 million barrels of oil equivalent.

The upgrade follows new drilling and appraisal work by Galp Energia, the operator of the PEL 83 licence, which raised the gross 3C contingent resource from 875 million barrels to 1.38 billion barrels.

Read more

Gaming Realms PLC (LSE:GMR, OTCQX:PSDMF, FRA:RNE1), the developer and licensor of mobile gaming content, has said it is well-positioned for continued growth after delivering a record year in 2025, with early trading in 2026 running 8% ahead of the same period last year.

Core content licensing revenue in the first two months of 2026 was 10% ahead on a constant currency basis, buoyed by expansion into new regulated markets including Peru, Nigeria, Ghana and Kenya, and the granting of a conditional iGaming services provider licence in Alberta, Canada.

Read more

88 Energy Ltd (AIM:88E, ASX:88E, OTCQB:EEENF, FRA:POQ), the AIM and ASX-listed oil and gas explorer, has commenced permitting and planning for the Augusta-1 exploration well on Alaska's North Slope, targeting prospective resources of 64 million barrels of oil equivalent on a best-estimate, gross unrisked basis.

The well is designed to test the stacked Ivishak and Kuparuk reservoirs within the North-West Lease Area of the company's South Prudhoe project, a 52,269-acre position situated immediately south of the prolific Prudhoe Bay and Kuparuk River producing units, in which 88 Energy holds a 100% working interest.

Read more

Connecting Excellence Group Plc (AQSE:XCE, OTCQB:XCELF), the AQSE-listed executive recruitment business that operates a Bitcoin treasury strategy, has appointed Carlos Benito-Garcia as chief performance and growth officer to accelerate the growth of its Spencer Riley operation.

Benito-Garcia brings more than 30 years of leadership experience spanning executive recruitment and the global pharmaceutical sector, including senior roles at GSK, Pfizer, AstraZeneca and IQVIA, where he led a 2,500-strong organisation.

Read more

Minerals 260 Ltd (ASX:MI6) has reported more strong drilling results from its 100%-owned Bullabulling Gold Project in Western Australia, with new assays continuing to support resource confidence and growth ahead of a maiden ore reserve and updated mineral resource estimate due in mid-2026.

The latest batch covers 22 holes for 5,425 metres and includes a number of standout intercepts from the Bacchus and Phoenix deposits, both of which sit within the project’s December 2025 resource base of 130 million tonnes at 1.0 grams per ton (g/t) gold for 4.5 million ounces.

Read more

American Rare Earths Ltd (ASX:ARR, OTCQX:ARRNF) has commissioned a key technical study aimed at advancing its ambitions to move further down the rare earths value chain, engaging US engineering group Tetra Tech (NASDAQ:TTEK) to assess pathways from oxide production to metal for its flagship Halleck Creek project in Wyoming.

The Oxides to Metals study will evaluate how the company can convert separated heavy rare earth oxides into metal — a critical midstream step immediately preceding the manufacture of permanent magnets used across defence and advanced technology applications.

Read more

Tamboran Resources Corporation (NYSE:TBN, ASX:TBN, OTC:TBNRL, FRA:O8R) on Friday announced it has received court approval for its proposed acquisition of Falcon Oil & Gas Ltd (AIM:FOG, TSX-V:FO), with the Supreme Court of British Columbia signing off on the transaction subject to amendments to the Plan of Arrangement.

The Final Order clears a key step in the process to acquire all of Falcon’s subsidiaries, although the court has required changes relating to the treatment of certain Falcon shareholders subject to sanctions.

Read more

Following its milestone CLIA waiver clearance for its FebriDx® rapid point-of-care test and the completion of a placement, Lumos Diagnostics Holdings Ltd (ASX:LDX, OTC:LDXHF) will conduct an investor presentation covering the two key updates.

LDX will host an investor webinar on Tuesday, March 31, 2026 at 9.00am AEDT, followed by a Q&A session.

Read more