The Australian sharemarket advanced on Thursday, with the S&P/ASX 200 gaining 33.7 points, or 0.38 per cent, to 8,881 at 1.26pm AEDT. Seven of the 11 sectors traded higher, led by real estate and financials. Goodman Group advanced, while all four major banks gained, including National Australia Bank. Consumer stocks declined following weaker sales updates from Wesfarmers, JB Hi-Fi and Super Retail, while Woolworths and Coles also fell.
In small cap company news:
Immutep reports $48.5 million cash balance as it refocuses clinical development
Immutep (ASX: IMM) has reported cash and term deposits of $48.5 million at 30 September 2026, with its funding runway expected to extend well into the first half of 2028. Quarterly operating cash outflows fell to $19.1 million from $38.9 million in the previous quarter as the company reduced spending following the discontinuation of its Phase 3 TACTI-004 lung cancer trial. Immutep is refocusing development of its lead immunotherapy candidate, eftilagimod alfa, on selected head and neck cancers and soft tissue sarcoma, with new clinical studies targeted for the second half of 2027, subject to further preparations and approvals. Its autoimmune disease candidate IMP761 is now a co-priority, with additional clinical data expected in November. The company also received approximately $3.02 million in Australian and French research tax incentives, including a French payment received after quarter-end. For full announcement please click here.
Ceretas enrols first patient in Phase 2 Alzheimer’s ultrasound trial
Ceretas (ASX: CTS) has enrolled the first patient in its Phase 2 CERE-CALM clinical trial, evaluating a non-invasive focused ultrasound treatment for behavioural and psychological symptoms associated with Alzheimer’s disease. The randomised, double-blind, sham-controlled study aims to recruit 66 patients across Australian clinical centres, assessing treatment safety, tolerability and effectiveness. Recruitment has begun at Cognivus Research in Sydney, with additional sites expected to commence enrolment shortly. The trial follows an earlier Phase 1 study involving 12 patients that demonstrated favourable safety and tolerability, alongside preliminary signs of improvement in behavioural symptoms. Ceretas has allocated $3.4 million from its IPO proceeds to the fully funded study, which is expected to conclude in the first half of 2028.
Ark Mines outlines $883 million valuation for Sandy Mitchell rare earths project
Ark Mines (ASX: AHK) has released an updated Scoping Study for its Sandy Mitchell Rare Earths and Heavy Minerals Project in Far North Queensland, outlining a post-tax net present value of $883 million and an internal rate of return of 29.7 per cent. The preliminary study assesses a 13-million-tonne-per-annum operation over approximately 26 years, generating average annual revenue of $348 million and requiring estimated pre-production capital of $383.6 million. The project would produce rare earth minerals alongside garnet, zircon and mica, with life-of-mine revenue estimated at $8.39 billion. Ark Mines plans to advance a Pre-Feasibility Study and further metallurgical testing, with development funding yet to be secured.
Minbos Resources begins phosphate mining at Angola’s Cacata deposit
Minbos Resources (ASX: MNB) has commenced phosphate rock extraction at its Cacata deposit in Angola, marking the beginning of early-stage mining operations at the Cabinda Phosphate Project. Excavation has progressed through the initial overburden, with phosphate-bearing material now being recovered and stockpiled ahead of the region’s November wet season. The mining campaign is supported by proceeds from the company’s $6 million equity placement completed earlier this year. The extracted material is intended to provide feedstock for commissioning of the Subantando processing plant, scheduled for the second quarter of 2027. Minbos is also assessing opportunities to supply phosphate products to Angola’s domestic agricultural market, subject to further approvals and commercial arrangements.
Chilwa Minerals advances Malawi drilling as Nasdaq listing strengthens funding
Chilwa Minerals (ASX: CHW) has reported continued exploration progress across its Lake Chilwa project in Malawi during the September quarter, with drilling focused on mineral sands, rare earths and niobium. At Mpyupyu West, 218 sonic holes covering 2,292 metres had been completed by early October, representing 80 per cent of the planned program across a 17-square-kilometre prospect. Diamond drilling at Nakombe North and South reached approximately 5,722 metres by quarter-end, supporting work towards a maiden Mineral Resource estimate. Chilwa expects its mineral sands Scoping Study to be completed in the December quarter. Following quarter-end, the company commenced Nasdaq trading and raised approximately US$3.82 million before costs through its initial public offering and a partial exercise of the over-allotment option. For full announcement please click here.
