The Australian sharemarket edged higher on Monday, with the S&P/ASX 200 gaining 9.2 points, or 0.10 per cent, to 8,815.9 at 12.10pm AEDT. Energy stocks led gains as oil prices hovered around US$108 a barrel, while takeover activity involving Cleanaway, Challenger and Ingenia attracted investor attention.
The modest rise came despite a global sell-off in technology shares, driven by higher oil prices and renewed concerns about returns on artificial intelligence investment. Technology stocks led losses on the ASX, limiting the broader market’s advance.
In small cap company news:
Chilwa Minerals lifts US offering to US$3.82 million following additional shareissue
Chilwa Minerals (ASX: CHW) has increased the gross proceeds from its USinitial public offering to approximately US$3.82 million (A$5.45 million),following the partial exercise of an over-allotment option by underwriter MaximGroup. The additional issue of 56,834 American Depositary Shares raisedUS$317,702 before costs, at US$5.59 per share. The funds will supportexploration and working capital at the company’s Chilwa Critical MineralsProject in Malawi, where it is advancing heavy mineral sands, ionic clay rareearths and the Nakombe niobium discovery. Chilwa completed its initial USoffering earlier in October and is now listed on both the ASX and Nasdaq. Forthe full announcement, please click
here.
Critical Minerals Group targets $2.05 million raising for Lindfield vanadium study
Critical Minerals Group (ASX: CMG) has secured firm commitments for a placement of approximately $1.25 million and plans to raise a further $800,000 through a share purchase plan, targeting total proceeds of up to $2.05 million before costs. Shares will be issued at 6 cents each, with cornerstone shareholder Idemitsu committing up to approximately $694,000, subject to shareholder approval. The funds will support the commencement of definitive feasibility study work at the Lindfield Vanadium Project in Queensland, including drilling, metallurgical testing and environmental approvals. The company has also appointed Gerhard Redelinghuys as a non-executive director, while implementing cost reductions across the business.
Eminence Minerals secures options over five gold projects in Côte d’Ivoire
Eminence Minerals (ASX: EMA) has entered into three exclusive option agreements providing a pathway to acquire interests of up to 85 per cent in five gold exploration projects across Côte d’Ivoire in West Africa. The portfolio covers approximately 1,508 square kilometres, including 871 square kilometres of granted exploration tenure, across the Tarato, Kounouman, Banandje, Sarhala and Tonkpi projects. Initial site visits identified historical artisanal mining activity at Tarato and Kounouman, although sampling has not yet confirmed gold mineralisation. Subject to completing the acquisitions, Eminence plans to begin geological mapping, sampling and target generation, initially focusing on the granted exploration areas.
Invion completes Phase 1 skin cancer trial recruitment with encouraging early results
Invion (ASX: IVX) has completed patient treatments and closed recruitment for its Phase 1 clinical trial of INV043, an investigational treatment for non-melanoma skin cancer, following a review of preliminary results by an independent Safety Review Committee. Across 14 patient treatment assessments, no serious adverse events or dose-limiting toxicities were reported, while the trial recorded a 79 per cent disease control rate, including one complete response. The early findings cover patients with squamous cell carcinoma and basal cell carcinoma and support the company’s plans to advance INV043 into a Phase 2 trial, potentially targeting advanced and rare skin cancers. Final Phase 1 results remain subject to a 12-month patient follow-up and independent audit, with Phase 2 planning now underway.
Odessa Minerals expands into Bolivia with 288-square-kilometre silver exploration project
Odessa Minerals (ASX: ODE) has staked approximately 288 square kilometres of exploration ground in Bolivia’s San Cristóbal mining district, establishing its SC West Project in a region known for silver, zinc and lead production. The new landholding comprises 1,153 concession squares near the operating San Cristóbal mine, one of the world’s major silver producers. Preliminary geological work has identified alteration and structures considered prospective for mineralisation, although the project’s resource potential remains untested. Initial soil and rock-chip sampling has been completed, with laboratory results expected in the coming months to help identify priority targets for further exploration and potential drilling.
To hear directly from more companies, including Australian Foundation Investment Company, Geopacific Resources, and WIN Metals, join us for our free Uncovering Hidden Gems investor webinar on Wednesday, 21st October at 12.30pm AEDT. To register go to Sharecafe.com.au.
