Stockhead’s In-Case-You-Missed-It highlights today’s most interesting small cap stories that might have slipped beneath your radar.

Below is a wrap of the top 20 performing stocks, by percentage, that made announcements today.

 

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Arrow Minerals (ASX:AMD) has appointed iron ore executive and previous MD of Atlas Iron David Flanagan as its new MD to unlock the potentially significant value of its Simandou North iron project in Guinea, West Africa. Oh, and he’s subscribed to $175,000 of a $3.5m placement at 0.1c per share.

Sigma Healthcare (ASX:SIG) has finalised an enormous $400 million institutional placement, ahead of the $8.8 billion merger with Chemist Warehouse that will allow the latter to backdoor list on the ASX.

Solis Minerals (ASX:SLM) has completed an the Induced Polarisation (IP) study at its Ilo Este porphyry copper project Peru.

Global Oil and Gas (ASX:GLV) has appointed Havoc Services as advisors to assist the company in developing its 4,858km2 Technical Evaluation Agreement (TEA) offshore oil and gas block in Peru.

And Lithium Universe (ASX:LU7) has met with the Québec government and Investment Québec to outline the company’s strategy to help Canada’s lithium downstream challenge. 

 

More Top Small Cap Stories: Wednesday

 

Brookside Energy (ASX:BRK) is moving to capitalise on its nearly 12 million barrels of oil equivalent (BOE) low-cost, high-margin, liquids-rich reserves in the SWISH Area of Interest (AOI) in Oklahoma with a self-funded, four-well drilling program aimed at boosting production.

Magnetic Resources (ASX:MAU) has lodged a mining lease application to expand its Lady Julie North 4 (LJN4) discovery off the back of last month’s resource update for its Laverton gold project in WA to 22.7Mt at 1.69g/t gold totalling 1.24Moz.

Melodiol Global Health (ASX:ME1) says it’s generated unaudited revenue of ~$5.942 million so far in Q4 FY23, taking FY23 revenue to ~$20m, already up 130% on FY22.

Perth-based fundie Merchant Funds Management will become a strategic investor in PharmAust (ASX:PAA), which has received binding commitments to raise ~$3.46 million through an oversubscribed placement.

Battery Age Minerals (ASX:BM8) Phase 2 drilling has delivered lithium assays including 65m at 1.48% Li2O from 66.6m at the Falcon Lake project in Ontario, Canada.

Challenger Gold (ASX:CEL) says metallurgical test work has found a way to upgrade gold-silver concentrates into doré from its Hualilan project in Argentina, providing an opportunity to improve project economics outlined in a recent scoping study.

American West Metals (ASX:AW1) has defined a world-class 23.8Moz indium resource at its West Desert project in Utah – the only indium resource in the US – on top of existing zinc, copper and silver mineralisation.

The Landau city council has cleared a path for construction of Vulcan Energy (ASX:VUL) integrated geothermal renewable energy and lithium extraction plant in Germany’s Upper Rhine Valley.

Pan Asia Metals (ASX:PAM) is planning to convert 1mtpa waste from its RK lithium project in Thailand into valuable by-products for the cement industry.

Leeuwin Metals (ASX:LM1) says maiden field work at its Cross Lake lithium project in Canada has returned assays of up to 4.31% Li20.

GCX Metals (ASX:GCX) has added a plethora of exploration targets to its Dante project in WA after independent reviews of historical data identified multiple electromagnetic anomalies.

Arizona Lithium (ASX:AZL) has increased its Prairie project’s total resource to 6.3Mt Lithium Carbonate Equivalent (LCE), up from 5.7 MT LCE.

Warriedar Resources (ASX:WA8) has identified a shallow porphyry-related gold-copper system at its Fields Find project in WA.

Godolphin Resources (ASX:GRL) says leach testing has delivered encouraging recoveries of Rare Earth Elements (REE) from its Narraburra project in NSW, including up to a combined 75% recovery of key magnet REEs praseodymium (75%), neodymium (82%), terbium (74%), and dysprosium (73%).

Frontier Energy (ASX:FHE) has announced the settlement of a strategic land acquisition for its Bristol Springs Renewable Energy project.

Australian Mines (ASX:AUZ) has received the first placement tranche of $1,565,108 relating to its acquisition of a Two Brazilian REE and lithium projects.

And Arafura Rare Earths (ASX:ARU) is raising up to $30m via a placement ($20m) and share purchase plan ($10m) at $0.16 per share to fund continued development of its Nolans rare earths project in the NT.

 

At Stockhead we tell it like it is. While Brookside Energy, Magnetic Resources, Melodiol Global Health, PharmAust, Battery Age Minerals, Challenger Gold, American West Metals, Vulcan Energy Resources, Pan Asia Metals, Leeuwin Metals, GCX Metals, Arizona Lithium, Warriedar Resources, Godolphin Resources, Frontier Energy, Lithium Universe, Australian Mines and Arafura Resources are Stockhead advertisers, they did not sponsor this article.

 

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