The S&P/ASX Small Ordinaries (INDEXASX: XSO) closed at 3,433.10, down 46.60 points or 1.34% yesterday, but still up 43.10 points or 1.27% over the past 5 days. Against that mixed backdrop for small-cap stocks, several companies in the index have released operational and corporate updates. You can read about the following and more throughout the day.
Nexus Minerals Ltd (ASX:NXM, FRA:YAK) said RC drilling has commenced at its Wallbrook Gold Project, about 140km northeast of Kalgoorlie in Western Australia. The planned program comprises about 22,000 metres of RC drilling and is designed to support a material expansion of the project’s existing mineral resource inventory.
Ocean Power Technologies Inc (NYSE-A:OPTT) has announced the deployment of its first PowerBuoy system under a contract with the US Department of Homeland Security, marking an operational milestone for the company’s offshore monitoring technology.
The system has been installed off the coast of California and is intended to support maritime domain awareness efforts for the United States Coast Guard.
Cavendish has highlighted a new joint development agreement between Ilika PLC (AIM:IKA, OTCQX:ILIKF, FRA:I8A), the solid-state battery developer, and Brompton Bicycles as a potential gateway to commercial licensing opportunities.
The broker reiterated its 'buy' rating and 130p price target on shares currently trading at 27p (up 4% on the day).
Fox Tungsten Ltd (TSX-V:FOXT, OTC:HPYCF, FRA:1HC) said on Monday it has appointed two new directors to its board.
Mark Wellings joins the board as the nominee of Waratah Capital Advisors, an investment fund with the contractual right to name a replacement following the March 24 resignation of Grant McAdam.
M2i Global Inc (OTC:MTWO) and Volato Group (NYSE:SOAR) announced that they are aiming to complete their proposed merger in late May 2026, after clearing a key regulatory step that allows the transaction to move forward to a shareholder vote.
The US Securities and Exchange Commission (SEC) has declared effective the companies’ Form S-4 registration statement, a required filing for stock-based mergers.
Namibia Critical Metals (TSX-V:NMI, OTCQB:NMREF) said on Monday it has appointed seasoned hydrometallurgist Niels Verbaan as vice president, metallurgy, as the Canadian junior miner pushes to advance its Lofdal Heavy Rare Earth Project in Namibia toward a definitive feasibility study.
Verbaan, a professional engineer with more than 25 years of experience in mineral processing, joins from SGS Lakefield, the world's leading metallurgical testing and certification firm, where he served as senior director of technical services for hydrometallurgy.
Sona Nanotech Inc (CSE:SONA, OTCQB:SNANF) said tissue analysis from its first human trial of its heat-based cancer therapy showed immune system activation in late-stage melanoma patients, raising hopes it could be combined with existing immunotherapy drugs to improve their effectiveness.
The Canadian biotech firm said analysis conducted at Dalhousie University found natural killer cell infiltration in tumor tissue after treatment with its Targeted Hyperthermia Therapy (THT), a marker associated with innate immune response.
First Phosphate Corp. (CSE:PHOS, OTCQX:FRSPF, FRA:KD0, OTC:FPHOY) has announced that it has received a non-binding letter of intent from Denmark’s export credit agency, EIFO, for a potential guarantee of up to €170 million tied to its proposed igneous phosphate mining project in Quebec.
The Canadian company said the financing support would be directed toward equipment and service purchases for its project in the Saguenay–Lac-Saint-Jean region.
Eco (Atlantic) Oil & Gas Ltd (TSX-V:EOG, AIM:ECO) shares traded up, gaining 12% to 61.55p in London, after it struck a farm-out deal with BP over its offshore Namibian portfolio, bringing in a supermajor as operator while sharply cutting its own funding exposure across three exploration licences.
Under the agreement, BP Namibia Energy will acquire a 60% participating interest in PEL97, PEL99 and PEL100, pay US$2.7 million in cash on completion and assume operatorship.
Genflow Biosciences Ltd (LSE:GENF, OTCQB:GENFF, FRA:WQ5), the gene therapy developer, has announced the international publication of a Patent Cooperation Treaty (PCT) application covering variants of the SIRT6 protein for the treatment of muscular diseases, including frailty syndrome and sarcopenia, the age-related loss of muscle mass.
The published application, WO 2026/062177 A1, describes compositions and methods involving SIRT6 variants across nucleic acids, polypeptides, vectors and pharmaceutical formulations intended for muscular disease settings linked to muscle loss and altered endocrine function.
NewPeak Metals Ltd (ASX:NPM, OTC:NPMFF, FRA:NPM) last week outlined upcoming drilling at its Las Opeñas Gold Project in Argentina, alongside multiple near-term catalysts across its exploration portfolio, in a discussion with Proactive.
Managing director Mark Purcell said the company is preparing to commence drilling within weeks at the 100%-owned Las Opeñas project in San Juan Province, a region recognised as one of South America’s premier gold districts. He noted that the project sits along the same structural trends as major deposits, including Barrick and Shandong’s Veladero Mine and Pascua-Lama.
International Graphite Ltd (ASX:IG6, FRA:H99, OTC:IGRPF) has delivered a fresh set of high-grade purification results from test work conducted with partner Alkeemia, reinforcing the technical and commercial case for its planned European graphite processing hub.
The latest results show all seven graphite concentrate samples tested exceeded the company’s target purity level of 99.9% total graphitic carbon (TGC), with several achieving up to 99.98% purity. These outcomes build on earlier work and further validate the hydrofluoric acid (HF)-based purification process that will support the proposed joint venture facility in Italy.