The S&P/ASX Small Ordinaries (XSO) gained 1.03% on Wednesday to 3,158.50, adding 32.10 points, while the index has risen 2.63% over the past five trading days.
The stronger session came as several small-cap companies reported progress across exploration, project development and transport electrification. As we head towards the end of the month and quarterly reporting deadlines, we're seeing a glut of quarterlies coming through.
Solis pushes ahead with South American drilling
Solis Minerals Ltd ( ASX:SLM , OTCQB:SLMFF , FRA:08WA ) advanced drilling across its lithium projects in Brazil and copper assets in Peru during the September quarter.
Chief executive officer Mitch Thomas said the company was progressing its strategy of drilling multiple projects to increase the chances of making new discoveries.
"The September quarter marked an important step in advancing our lithium and copper portfolio, with drilling progressing across our projects in Brazil and Peru. We set out our strategy for this year to drill across multiple projects to deliver on our objective of discovery, and we are very pleased to have this underway."
FireFly strengthens Green Bay development case
FireFly Metals Ltd ( ASX:FFM , TSX:FFM , OTC:FFMFF ) reported a preliminary economic assessment for its Green Bay Copper-Gold Project that outlined a potential A$3 billion net present value and 39% internal rate of return for a 4.6 million tonnes per annum development case.
The company also updated Green Bay's mineral resource to 60.2 million tonnes at 2.4% copper equivalent in measured and indicated resources, plus 23.5 million tonnes at 2.5% copper equivalent inferred.
FireFly finished the quarter with about A$349.7 million in unaudited cash and liquid investments after raising around A$185 million through an equity raising and share purchase plan.
The company is targeting a further resource update and feasibility study in the first quarter of 2027, followed by a final investment decision in mid-2027.
Janus prepares for first US truck deliveries
Janus Electric Holdings Ltd (ASX:JNS) ended the September quarter with A$3 million in cash after completing a A$7.68 million placement and receiving a further A$470,000 from option exercises.
The company recorded a A$5.9 million operating cash outflow as it built inventory, reduced creditors and expanded its North American and Australian teams.
Battery partner Electrovaya has started producing Janus battery packs in North America, with the first US truck conversions scheduled for customer delivery in the second quarter of FY2027.
