Latest Asx Small Caps News

Bass Oil has returned to profit for the first half of 2026, with EBITDA rising 80% and cash reserves strengthening while the company remains debt-free. The result comes as it moves towards first gas from Vanessa, advances the Kiwi project and prepares to tie in the stronger-than-expected Bunian 6 well.

Antares Metals has secured $2.57 million to fund maiden drilling at its Quinns project and continued exploration across Queensland and Western Australia. The raise comes with substantial potential dilution, with more than half the shares and all attaching options still requiring shareholder approval.

Cosmo Metals has secured a new exploration licence in New South Wales after reconnaissance work found copper-bearing outcrop and a selective rock chip sample grading 4.69% copper. The result is an early exploration signal, not evidence of a defined deposit, with mapping and further sampling still to come.

VHM has taken Goschen from a permitted project to a more financeable development, with Iluka committing to buy all planned rare earth concentrate and providing A$40 million in convertible note funding. The company remains pre-revenue, has not made a Final Investment Decision and will need further funding before construction can begin.

Golden Dragon Mining has extended the Cue Gold Project’s high-grade story, with Behring Bore returning 4 metres at 6.98 g/t gold and Coodardy mineralisation now defined across about 500 metres of strike. A larger 2,500-metre RC program will test whether the zones continue at depth and along strike.

Gateway Mining has secured firm commitments for a A$45 million placement, including A$20 million from Jupiter Asset Management, to fund an aggressive exploration campaign at its Yandal Gold Project. The raising follows a high-grade Cowza result and will issue 562.5 million new shares at a discount to market.

Lux Copper has begun its maiden drilling campaign at the 100%-owned Baird Copper Project in Alaska, targeting historical high-grade copper results at Omar and Frost. The first assay results are expected in October, creating a near-term test of the project's exploration potential.

Evergold has defined three priority gold targets at its Leonora Goldfields Project after combining 1,312 soil samples with detailed drone magnetics. The early-stage results sharpen the company’s exploration pipeline, but drilling is still needed to establish whether the surface anomalies continue into bedrock.

Galileo Mining has lined up two drilling programs at its Norseman project, targeting an untested extension near Callisto and shallow sulphide mineralisation at Mission Sill. The programs will test encouraging but still preliminary exploration indicators, with results yet to come.

Brightstar Resources says construction of its 1.5Mtpa Laverton processing plant remains on schedule and within budget, with first gold still targeted for June 2027. The update also marks the end of underground mining at Second Fortune as the company shifts towards commissioning and new mine development.

Evion has identified a previously unmined 200m by 200m prospect at its Carp Fluorspar Project in Nevada, just 300m from the historic South Pit. Assays are pending, with geophysical surveys and a potential maiden drilling programme next in line.

Bass Oil has set out a growth plan spanning Indonesian oil production, a planned Vanessa gas restart and development of its Kiwi discovery in South Australia. The strategy offers several potential catalysts, but much of the upside remains dependent on funding, approvals and execution.