Daily Special: Pathkey.AI, WIA Gold, DosaVi, OD6 Metals, Cauldron Energy

Australian shares traded lower at midday, with the S&P/ASX 200 dropping 0.60% to 9,195.00 at 12.38pm AEST. Ten of the 11 sectors were in the red as investors worked through a busy earnings session and weighed Reserve Bank governor Michele Bullock’s hawkish comments on interest rates. Sentiment was also pressured by ongoing US-Iran tensions and volatility in oil markets. Utilities were the only sector to advance, led by AGL Energy after the company reported a sharp increase in full-year net profit. Financials weakened as Commonwealth Bank slipped following its full-year results, with the lender saying the decline in mortgage applications since the Federal budget had stabilised in recent weeks. Investors were also digesting results from Seek as the local reporting season gathered pace.

In small cap company news,

Pathkey.AI (ASX: PKY) has appointed former Altium chairman Sam Weiss as a strategic adviser and secured commitments for a $2.8 million placement. Weiss, who led Altium during its growth into a global software business, also cornerstoned the raising. The funds will be used to accelerate technology, marketing and business development for Chipforge, Pathkey’s AI-powered semiconductor design platform, as well as support its existing assets and working capital.

WIA Gold (ASX: WIA) has secured commitments for a $125 million placement to advance its Kokoseb Gold Project in Namibia. Combined with a proposed US$360 million debt facility and existing cash, the company said the funding package will fully fund Kokoseb through construction to first gold production. The funds will support pre-production spending, project development, permitting and exploration, with first gold targeted for the fourth quarter of 2028. The placement remains subject to shareholder approval.

dorsaVi (ASX: DVL) has commenced silicon manufacturing of its first RRAM-CMOS validation chip, moving the program from the design stage into physical production. The manufacturing package has been accepted by the semiconductor foundry, with wafer processing now underway. The current manufacturing run is producing the CMOS base that will support the RRAM memory array and related circuits. The program will then move through RRAM integration, testing and performance benchmarking as dorsaVi works towards potential applications across robotics, autonomous systems and edge devices.

OD6 Metals (ASX: OD6) has reported encouraging ore sorting results from its Quinn Fluorspar Project in Nevada, with testing showing clear separation between high-grade fluorspar and waste material. Head grades reached 98.3% calcium fluoride at Big Jim, 90% at Horseshoe and 86.7% at Blue Bell. The company said the results support the potential for a lower-cost processing route, including early waste removal before milling and flotation. OD6 now plans larger-scale ore sorting trials alongside further metallurgical work to assess potential production of higher-value fluorspar products.

Cauldron Energy (ASX: CXU) has commenced trading on the OTCQB market in the United States under the code CAULF, expanding access to the company for US investors. Its primary ASX listing remains unchanged, with no new shares issued as part of the move. The company said the US market is a key focus given growing demand for uranium and nuclear energy. Cauldron owns the Yanrey Uranium Project in Western Australia and said the OTCQB listing will help increase its visibility among North American investors.