Small cap wrap: Nextsource Materials, First Phosphate, Medicus Pharma, Nextech3D.ai…

AuMEGA Metals Ltd (ASX:AAM, TSX:AUM, OTCQB:AUMMF, FRA:FRA: MA30) has launched diamond drilling at the Isle aux Morts Granite and Cape Ray West in Newfoundland and Labrador, marking the first tests of several priority exploration targets along the Cape Ray Shear Zone.

The campaign represents the opening phase of AuMEGA’s 2026 drilling program and will investigate areas that have never previously been drilled.

NextSource Materials Inc. (TSX:NEXT, OTCQB:NSRCF) has reported positive results from an updated feasibility study for a proposed Phase 2 expansion of its Molo Graphite Mine in southern Madagascar, outlining plans to increase production capacity to 150,000 tonnes per year of flake graphite concentrate over a 37-year mine life.

The feasibility study envisions a staged expansion beyond the existing Phase 1 operation through the construction of three new 50,000-tonne-per-year processing modules in two phases.

Medicus Pharma (NASDAQ:MDCX) said the US Food and Drug Administration (FDA) has issued a "Study May Proceed" letter authorizing the company to begin its NDA-enabling Phase 2b registrational study of SkinJect in patients with Gorlin syndrome who develop multiple basal cell carcinomas.

The authorization follows the FDA's review of the company's investigational new drug (IND) application for the SKNJCT-005 study and Medicus' response to information requests issued by the agency in June.

Graphene Manufacturing Group Ltd (TSX-V:GMG, OTCQX:GMGMF) said Blackwoods will distribute its liquid graphene products, G LUBRICANT and THERMAL-XR, across Australia.

Blackwoods, a Wesfarmers Group company, is Australia's leading industrial and safety solutions supplier, offering more than 300,000 products to businesses across mining, manufacturing, construction and other sectors through a national branch, distribution and sales network.

Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF, FRA:1SS) has provided an update on its planned acquisition of the outstanding shares of ARway Corporation that it does not already own, with the company expecting the transaction to close in October.

The companies announced they have entered into a definitive agreement dated July 24, setting out the terms of the previously announced transaction.

First Phosphate Corp. (CSE:PHOS, OTCQX:FRSPF, FRA:KD0, OTC:FPHOY) said Monday that its Bégin-Lamarche igneous rock phosphate mining project has been granted "Filon" accelerated support status by Quebec's Ministry of Natural Resources and Forests.

The designation is part of an MRNF initiative aimed at speeding up development milestones for mining projects in the province.

Tertiary Minerals PLC (AIM:TYM, OTC:TTIRF, FRA:TMU) appointed mining finance executive Lorenz Werndle as an independent non-executive director, adding southern African experience as the company explores its copper projects in Zambia.

Werndle, currently chief financial officer and executive director of Kavango Resources PLC (LSE:KAV, OTC:KVGOF), joins with immediate effect. He replaces Donald McAlister, who will step down on 4 August after more than 25 years on Tertiary’s board.

Scancell Holdings PLC (AIM:SCLP, OTC:SCNLF, FRA:SCP) confirmed the UK leg of its equity funding has raised gross proceeds of £15.7 million after strong retail demand prompted the cancer immunotherapy developer to increase the size of its retail offer.

The retail offer raised £2.7 million, above the original £2.3 million target. Allocations were scaled back because of demand, with preference given to existing shareholders.

Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF, FRA:VD5N) told investors it has lined up non-dilutive financing for up to US$15 million to help fund its Paradox Basin oil and gas project in Utah,

The AIM-listed company signed a non-binding letter of intent with Atlas Oil Company covering a prepaid commodity purchase agreement. It won't involve issuing shares or selling project-level working interest, the company noted.

Lumos Diagnostics Holdings Ltd (ASX:LDX, OTC:LDXHF) finished the fourth quarter of FY26 with strong full-year growth from its flagship FebriDx® rapid diagnostic test, expanding US commercial adoption and closing the period with US$15.4 million in cash.

Unaudited FY26 revenue increased 6% on the previous corresponding period to US$13.2 million, supported by an 875% surge in FebriDx revenue to US$3.9 million as orders increased under Lumos’ exclusive US distribution agreement with PHASE Scientific.

Riversgold Ltd (ASX:RGL, FRA:RGV, OTC:RVSGF) has reported positive outcomes from technical studies supporting mining permit applications for the Northern Zone Gold Project near Kalgoorlie, with no material geotechnical, groundwater or acid mine drainage risks identified.

The results advance preparation of the project’s Native Vegetation Clearing Permit and Mine Development and Closure Proposal, which are required before mining operations can begin at the proposed open pit development, 25 kilometres east of Kalgoorlie in Western Australia.