The Australian sharemarket extended its losses on Thursday, with the S&P/ASX 200 trading at 8,699.10 at 12.10pm AEDT, down approximately 0.3 per cent.
Technology and mining stocks led the declines, following a sell-off in US technology shares overnight as stronger-than-expected inflation raised concerns about higher borrowing costs. Australian unemployment rose to 4.7 per cent in September from 4.6 per cent in August, strengthening expectations that the Reserve Bank will leave interest rates unchanged.
Investors shifted towards defensive stocks, with consumer staples gaining 2.2 per cent.
In small cap company news:
Epiminder reaches 100-patient milestone in US epilepsy study
Epiminder (ASX: EPI) has enrolled its 100th patient in the US DETECT clinical study of its Minder epilepsy monitoring system, reaching the milestone ahead of its November target. The study, conducted across 22 US epilepsy centres, is evaluating whether continuous brain activity monitoring can improve clinical decision-making for patients with drug-resistant epilepsy. Enrolment is approaching half of the planned 210 participants, with Epiminder targeting 125 patients by December 2026 and full enrolment by the end of June 2027. The FDA-authorised Minder System is being evaluated in the post-market study, with results expected to support clinical adoption and the company’s broader US commercial strategy.
Industrial Minerals extends Pippingarra quartz project option to 2028
Industrial Minerals (ASX: IND) has secured a two-year extension to its option agreement over the Pippingarra high-purity quartz project in Western Australia’s Pilbara region, extending the arrangement to October 2028. The project, located approximately 35 kilometres from Port Hedland, hosts an inferred mineral resource of 6.2 million tonnes grading 98 per cent silica. Industrial Minerals retains the exclusive option to acquire an 80 per cent interest in the project’s non-construction mineral rights. The extension requires minimum additional expenditure of $200,000 and provides further time to advance processing studies, feasibility work and potential supply agreements with customers in China and the broader Asia-Pacific region.
Brazilian Critical Minerals advances Ema rare earth project approvals
Brazilian Critical Minerals (ASX: BCM) has received formal land access approval from the Amazonas office of Brazil’s National Institute for Colonization and Agrarian Reform for its Ema Rare Earth Project. The agreement covers land within the Juma settlement near Apuí and represents a further step towards securing environmental approval for the project. The authority has also confirmed it has no objection to the environmental licensing process continuing. Final ratification from the institute’s Brasília office remains outstanding, alongside the project’s environmental licence and trial mining approvals. Brazilian Critical Minerals will continue working with regulators to progress Ema towards development.
Red Mountain Mining identifies high-grade copper potential at Pioneer
Red Mountain Mining (ASX: RMX) has highlighted further copper exploration potential at its Pioneer Tungsten Project in Montana, United States, following a review of previously reported rock-chip sampling results. Samples returned copper grades of up to 19.15 per cent at the Mammoth prospect, while Greenstone and Glow Worm recorded maximum grades of 6.72 per cent and 3.92 per cent respectively. Of the 195 rock-chip samples collected across the project, 37 returned copper grades above 0.1 per cent. The results indicate copper mineralisation alongside the project’s existing tungsten targets, although further exploration is required to establish its extent. Red Mountain is finalising plans for additional surface sampling targeting both metals and is reviewing other copper exploration opportunities.
Kingsrose Mining secures exploration permit for Penikat project in Finland
Kingsrose Mining (ASX: KRM) has secured an exploration permit and enforcement order from Finnish mining authorities for Area 6 of its Penikat Project, marking a key step towards drilling planned for January 2027. The permit allows up to 5,000 metres of drilling annually between August and March, while the enforcement order permits a restricted program of up to 3,000 metres per year if the main permit is appealed, subject to environmental conditions. The appeal period closes on 20 November 2026, after which the exploration permit will become legally binding if no appeals are lodged. Kingsrose is targeting the start of drilling in early 2027, subject to the outcome of the appeals process.
To hear more from ASX-listed company’s join us at the Uncovering Hidden Gems webinar on 21st October at 12:30pm AEDT. To register go to Sharecafe.com.au.
