Australian shares are trading lower, with the S&P/ASX 200 dropping 0.20% to 9,051.70 at 15:00 pm AEST. Banks weighed on the market, while WiseTech Global plunged following ACCC search warrants. Technology stocks were also pressured by higher bond yields, while softer gold prices weighed on miners. Energy and healthcare bucked the trend, with Santos, Woodside, CSL and Sonic Healthcare trading higher.
In small cap company news,
OD6 Metals moves towards US OTCQB quotation
OD6 Metals (ASX: OD6) has commenced the process of seeking a quotation on the OTCQB Venture Market in the United States as it advances its Quinn Fluorspar Project in Nevada. The company said the move follows growing interest from North American investors and is designed to improve access and visibility in US capital markets. OD6 has appointed US-based Viriathus Capital to assist with the application and quotation process, while its primary listing will remain on the ASX. The company said the US remains 100% net import reliant for fluorspar, which is included on the US critical minerals list.
American Tungsten & Antimony selected for potential US$18m US funding
American Tungsten & Antimony (ASX: AT4) has been selected by the US Department of Energy to begin negotiations for a potential financial award of up to US$18 million for its ASCEND-Sb antimony project. The project is one of nine selected under a US$162 million US government funding program. The company will now work with the Department of Energy to negotiate the scope and terms of any funding package, which could also potentially support other assets including the Del Sol Refinery. The company noted that selection for negotiations does not guarantee funding.
Horizon Oil achieves first gas ahead of schedule in Thailand
Horizon Oil (ASX: HZN) has achieved first gas from the Sinphuhorm Pad D Facility Project in Thailand around 50 days ahead of schedule. The facility has completed its 72-hour performance test, with the PH-14 well producing at gross rates of between 25 and 30 million standard cubic feet of gas per day before transitioning to normal operations. The Pad D development is designed to access an area of the Sinphuhorm field that has historically been less effectively drained and will support production from multiple wells. Horizon holds an effective 7.5% interest in the gas and condensate field.
Canadian Phosphate extends Wapiti phosphate zone by more than 3km
Canadian Phosphate (ASX: CP8) has intersected visual phosphate mineralisation in all eight holes completed so far at its Wapiti Phosphate Project in British Columbia. The drilling has extended the known Main Zone by more than three kilometres south of the nearest historical drill hole. The eight holes represent around one-third of the planned 3,000-metre drilling program, which is scheduled for completion in September. Samples have been sent for laboratory analysis, with initial assays expected this quarter, while an updated Mineral Resource Estimate is planned for the fourth quarter of 2026.
Magnum Mining advances Brazilian rare earth drilling
Magnum Mining and Exploration (ASX: MGU) has completed around 6,900 metres of its planned 10,000-metre drilling program at Piracanjuba North in Brazil, with nine drill rigs remaining on site. Drilling has expanded across PN-7 and its extensions as the company tests the broader interpreted 116-square-kilometre geophysical anomaly. Magnum remains on track to deliver a maiden Mineral Resource Estimate for Piracanjuba North in November 2026, subject to exploration results. The company has also received all assays from its completed Palmares drilling program, with technical review and geological interpretation underway.
