Daily Special: Caspin Resources, Patagonia Lithium, Proteomics International Laboratories, WhiteHawk, Nexus Minerals

Australian shares fell at midday, with the S&P/ASX 200 is down 1.19% at 8,699.10 at 12:20pm AEST as higher oil prices following renewed US-Iran tensions revived inflation concerns. Brent crude climbed to a two-week high after fresh US strikes on Iran and tighter sanctions on Tehran’s oil exports. Materials and technology led the declines, with BHP, Newmont, Evolution Mining, Regis Resources and WiseTech Global all weaker. Energy stocks outperformed on stronger oil prices, lifting Woodside, Santos and Viva Energy, while Origin Energy and AGL also gained.

In small cap company news, 

Caspin Resources (ASX: CPN) has reported its highest-grade tin intercept to date at the Kelpie Deposit within the Bygoo Tin Project in New South Wales, returning 20 metres at 2.11% tin from 107 metres. The result extends the recently discovered Errol’s Zone beyond the current resource and is expected to contribute to a planned resource update later this year. The mineralisation remains open along strike and at depth, with further drilling already completed and assay results pending. Caspin said the shallow, high-grade intercept highlights strong potential for resource growth and favourable future mining economics.

Patagonia Lithium (ASX: PL3) has completed 116 metres of drilling at Well 8 of its Cilon Lithium Project in Argentina, with its first packer test returning high specific gravity brines that the company says are a positive indicator for lithium-bearing fluids. Drilling is progressing at more than 30 metres per day, with additional packer testing underway. Laboratory assays for lithium and other elements are expected in coming weeks as drilling advances towards the planned 600-metre target depth. Management said the early field results provide encouraging signs as it continues evaluating the project’s lithium brine potential.

Proteomics International Laboratories (ASX: PIQ) has been granted a United States patent covering its PromarkerEndo blood test for diagnosing endometriosis, strengthening intellectual property protection in the world’s largest healthcare market. The patent supports the company’s commercialisation strategy and future licensing opportunities, with protection expected to extend until 2041. The company said published clinical studies have demonstrated the test’s high accuracy, including for early-stage disease. The US patent follows earlier protection in Japan as Proteomics continues expanding its global patent portfolio.

WhiteHawk (ASX: WHK) has secured an initial A$356,000 engagement after being selected to deploy its Cyber Risk Radar platform as part of a major US Government cyber resilience program. The 90-day contract will support around 400 public and private sector organisations and forms part of previously announced customer engagements. The company said the deployment provides a strategic entry into a broader federal cyber resilience initiative, with potential to expand into additional regions and critical infrastructure projects. Management believes the contract validates its cyber risk platform and could create further government opportunities.

Nexus Minerals (ASX: NXM) has agreed to acquire Northern Star Resources’ remaining 10% interest in the Pinnacles Gold Project, taking ownership of the Western Australian asset to 100%. The transaction will replace the joint venture with a 1.5% net smelter royalty payable to Northern Star and is expected to complete by the end of September, subject to conditions. The Pinnacles Project hosts a mineral resource of 78,000 ounces of gold and already has a granted mining lease, strong metallurgical recoveries and environmental approvals in place. Nexus said full ownership will simplify future development planning and provide greater flexibility as it advances the project.