Daily Special: Tartana Minerals, H3 Energy, Caravel Minerals, Neometals, Dimerix

Australian shares traded lower at midday, with the S&P/ASX 200 down 81.7 points, or 0.92%, to 8,759.0 at 12.20pm AEST. Investors responded to escalating tensions in the Middle East after US strikes near Iran’s key oil export facilities lifted Brent crude above US$85 a barrel, raising concerns that higher energy prices could keep inflation elevated and increase pressure for further US interest rate rises.

 

Materials led the decline as BHP, Rio Tinto and South32 fell sharply, while weaker gold prices dragged down Northern Star, Evolution Mining, Genesis Minerals and Regis Resources. Financials also eased, with the major banks trading lower. In contrast, energy stocks gained on stronger oil prices, with Woodside Energy and Ampol advancing, while Coles outperformed after ending takeover discussions with TPG Capital over Greencross.

 

In small cap company news:

Tartana secures strategic $5.2m investment from Xingye 

Tartana Minerals (ASX: TAT) has secured a proposed $5.18 million cornerstone investment from China’s Xingye Gold, which will become a 19.99% shareholder, subject to due diligence and regulatory approvals. The placement is priced at 5.3 cents a share, representing a substantial premium to the company’s recent trading price, and formalises the strategic proposal announced earlier this month. The funds will be used to accelerate exploration across Tartana’s silver, tin, copper and zinc projects, while Xingye will provide technical and operational expertise as part of a long-term partnership. The agreement also includes the potential appointment of Xingye representatives to the board following completion of the investment.

 

H3 Energy improves Warro imaging ahead of farm-in talks 

H3 Energy (ASX: H3E) says new seismic reprocessing at its Warro gas project in Western Australia has significantly improved the quality of its legacy data, marking an important step towards commercialising the asset. The upgraded imaging is expected to help identify higher-quality reservoir zones and improve future drilling accuracy. The company said the updated data is already being shared with parties assessing a potential farm-in opportunity, while the final phase of processing remains on track for completion by the end of September. H3 Energy believes the improved dataset strengthens confidence in both existing and deeper exploration targets.

 

Caravel completes mining study for copper DFS

Caravel Minerals (ASX: CVV) has completed the mining component of the Definitive Feasibility Study for its Caravel Copper Project in Western Australia, outlining a staged open-pit development that begins at the Bindi deposit. The study supports the project’s updated ore reserve and forms a key part of the broader feasibility work. The company plans to use a tier-one mining contractor during the early stages before transitioning to owner mining, while also designing the operation to accommodate autonomous haulage technology. Commercial negotiations with equipment suppliers and contractors are continuing as the project advances.

 

Neometals resumes drilling at Barrambie 

Neometals (ASX: NMT) has resumed exploration drilling at its Barrambie Project in Western Australia, targeting both the Rinaldi copper prospect and extensions to the Ironclad gold deposit. The program includes eight reverse circulation holes designed to test high-priority copper targets and expand known gold mineralisation. The company said the work will also support plans for potential open-pit development at Ironclad, while results from the copper drilling will help guide the next phase of exploration across the broader Barrambie Project.

 

Dimerix strengthens funding for Phase 3 program

Dimerix (ASX: DXB) has secured a non-dilutive $10 million loan facility, extending its funding runway through completion of the Phase 3 ACTION3 trial for lead kidney disease treatment DMX-200 and supporting the launch of a Phase 2 study for newly acquired pipeline asset DMX-652. The funding complements existing cash reserves and proceeds from its recently announced Everest Medicines partnership. The company is also negotiating access to up to a further $40 million in similar non-dilutive funding, which would extend its cash runway beyond the current clinical milestones while supporting broader pipeline development and future commercialisation activities.

 

For an indepth look at ASX-listed companies, including Inoviq, Core Energy Minerals, LaTrobe Magnesium and ReNerve, sign in for our Uncovering Hidden Gems webinar on 22 July at 12.30pm AEST. Register here.