Small Caps Watch: XSO tumbles on the open as risk-off temper weighs on market
The S&P/ASX Small Ordinaries (XSO) got here below strain on the open on Friday, falling 1.58% to three,368.60 at market open, down 54.20 factors from Thursday’s shut of three,422.80.
The index opened at 3,422.80 earlier than rapidly dropping to an early low of three,377.00, whereas the most recent studying shortly after the open confirmed the XSO round 3,367. Over the previous 5 classes, the small-cap benchmark has fallen 2.99%.
Against the weaker market backdrop, firm information centred on up to date assets and reserves from Alkane Resources and the completion of a significant US drilling marketing campaign by Resolution Minerals.
Alkane Resources replaces depletion throughout producing mines
Alkane Resources Ltd (ASX: ALK, OTC:ALKEF) reported continued useful resource progress throughout its three producing operations, with Björkdal, Tomingley and Costerfield all changing mining depletion throughout FY26.
Group measured and indicated assets now include 8.64 million ounces of gold, 1.01 million tonnes of copper and 42,000 tonnes of antimony, whereas inferred assets include an additional 3.76 million ounces of gold, 450,000 tonnes of copper and 12,900 tonnes of antimony.
Ore reserves stand at 25.49 million tonnes grading 1.7 g/t gold for 1.37 million ounces, plus 15,000 tonnes of contained antimony.
Managing director and CEO Nic Earner mentioned the expansion mirrored the success of exploration packages throughout Alkane’s producing portfolio.
Resolution Minerals completes main Horse Heaven marketing campaign
Resolution Minerals Ltd (ASX:RML, OTCQB:RLMLF, FRA:NC3) has accomplished its 2026 drilling marketing campaign on the Horse Heaven Antimony-Tungsten-Gold-Silver Project in Idaho, ending 42 diamond holes for 12,236 metres at Golden Gate.
Assays for gold and tungsten stay excellent from 39 holes and are anticipated to be launched progressively over the approaching months.
The first three holes reported from this system have already prolonged gold mineralisation at the very least 2 kilometres south from Golden Gate North to Golden Gate South, the place Resolution has declared discovery standing.
The finest consequence from the 2026 marketing campaign up to now is 305.7 metres at 0.64 g/t gold from floor, together with 17.25 metres at 1.19 g/t gold from 264.85 metres.
The drilling additionally focused tungsten across the historic Golden Gate Tungsten mine and a considerable tungsten-in-soil anomaly at Golden Gate South, with scheelite recognized visually in drill core forward of laboratory assays.
