Small cap wrap: Midnight Sun Mining, Alvopetro Energy, Nextech3D.ai…

Mobile-first enterprise software company Phunware Inc (NASDAQ:PHUN, FRA:2RJA) said on Thursday it is accelerating its transformation into an AI-enabled guest intelligence platform, as new leadership and a strong cash position support investments aimed at expanding its hospitality business and entering adjacent markets.

The company, which provides location-aware mobile engagement technology for hospitality, healthcare and other physical venues, said it is focused on executing its "2.0 Strategy" following the appointment of Dmitry Kroshka as CEO in May.

First Phosphate Corp. (CSE:PHOS, OTCQX:FRSPF, FRA:KD0, OTC:FPHOY)’s C$4.84 million in new federal funding for infrastructure planning at its Bégin-Lamarche phosphate project in Quebec was welcomed by Noble Capital Markets analysts, who maintained an ‘Outperform’ rating on the company.

The analysts wrote that the federal funding “underscores the government's confidence in the project and provides additional assurance to investors and strategic partners regarding the company's ability to advance development.”

Fox Tungsten Ltd (TSX-V:FOXT, OTC:HPYCF, FRA:1HC) is racing to prove its North American asset can become the West's answer to a tungsten shortage that shows no sign of easing.

With two drills turning on a high-grade tungsten resource in British Columbia, a fully funded treasury of about $15 million, and a preliminary economic assessment targeted for the second quarter of 2027, CEO Stephen Gray is trying to move faster than the market can catch up to the story.

Digital asset exchange-traded products broke a two-month losing streak in July, but investors largely stayed on the sidelines as the broader crypto market surged, according to a new analysis from Fineqia International Inc (CSE:FNQ).

Total assets under management (AUM) across global digital asset ETPs edged up 1.8% to $108.7 billion, a modest gain that senior associate Matteo Greco said was driven by rising token prices rather than fresh investor demand.

Midnight Sun Mining Corp (TSX-V:MMA, OTCQB:MDNGF) announced that it has identified multiple new exploration targets outside the previously defined and drilled mineralized corridor at its Dumbwa copper deposit in Solwezi, Zambia, following an initial high-resolution ground magnetic survey.

The survey covered an area of approximately 2.7 kilometres by 2.5 kilometres in the northern portion of Dumbwa’s Central Mineralized Block. Data was collected along north-south survey lines spaced 100 metres apart, with east-west tie lines spaced at 250-metre intervals.

Cavendish sees almost fivefold upside in Jersey Oil and Gas PLC (AIM:JOG, OTC:JYOGF) after regulators extended the Verbier licence, giving the partners more time to advance an integrated Greater Buchan Area development.

The broker has repeated a Buy recommendation and 537p price target, representing 388% upside from the AIM-listed company’s 110p share price.

Alvopetro Energy Ltd (TSX-V:ALV, OTC:ALVOF, FRA:A6Y0) reported higher revenue, funds flow from operations and net income for the second quarter of 2026, with sales volumes and realized natural gas prices both higher year over year.

Total sales averaged 3,067 barrels of oil equivalent per day (boepd) during the quarter, up 26% from the same period a year earlier and down 2% from the first quarter.

Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF, FRA:1SS) reported growth in new customer contracts and contracted value across its Eventdex, Map D and KraftyLab platforms through the first seven months of 2026.

From January 1 through August 5, the company secured 160 new customer contracts with a combined contracted value of approximately $874,000, compared with 18 new customer contracts representing approximately $55,470 during the same period in 2025.

Thistle Resources (TSX-V:TRCG, OTC:TRCGF) returned assays as high as 14.4% antimony and 7.59 ounces of silver per tonne from trench sampling at its Brunswick Antimony Project in New Brunswick's Bathurst Mining Camp, the company said.

The results cover 11 samples collected during the company's 2026 trenching program at the never-drilled project, which sits adjacent to the Brunswick No. 12 deposit on its eastern claim boundary.

BioVie Inc (NASDAQ:BIVI, NASDAQ:BIVIW) said its drug candidate bezisterim met the prespecified endpoints of a Phase 2 trial in early-stage Parkinson's disease, with patients showing improvements in blood-based inflammatory markers and a range of clinical outcomes compared with placebo.

The SUNRISE-PD trial was a multicenter, randomized, double-blind, placebo-controlled study in patients with early-stage Parkinson's disease who had not previously been treated with carbidopa/levodopa.

Domestic Metals Corp (TSX-V:DMCU, OTCQB:DMCUF, FRA:03E0) said it plans to launch a 9,000-metre diamond drill program at its Smart Creek copper porphyry project in Montana, targeting high-grade porphyry copper style mineralization.

The program will test multiple high-priority targets identified through the company's recent exploration campaign, which combined geological mapping, surface sampling, historical drill data and 3D computer modelling.

Shares in Solvonis Therapeutics PLC (LSE:SVNS, OTC:SLVNF) rose 7% to 0.15p after it cleared the first hurdle in a US government testing programme for an experimental treatment for cocaine and methamphetamine addiction.

The National Institute on Drug Abuse, part of the US government's medical research arm, has agreed to advance the compound, known as SVN-015, into a further round of studies.

American Tungsten & Antimony Ltd (ASX:AT4, OTCQB:ATALF, FRA:4VZ) has begun planning for the restart and potential expansion of the Del Sol Refinery in Nevada, alongside exploration and feedstock work at the White Spar Antimony Mine in Arizona.

The work remains conditional on completion of AT4’s proposed acquisition of both assets, announced on July 28 2026. Subject to completion and funding, the company intends to begin restarting Del Sol’s antimony flake circuit during the September 2026 quarter using feedstock from White Spar.