Podcasts
Deep dives into market trends, company analysis, and expert interviews
Prescient Therapeutics: what has changed since the last PTX100 CTCL update
Small Caps speaks with Prescient Therapeutics (ASX: PTX) for a general company update focused on what has changed since our last interview on PTX100 in cutaneous T-cell lymphoma (CTCL). Management discusses the most important recent developments, what has or has not been validated since earlier clinical commentary, key risks around the phase 2A program, and the public milestones investors can watch next. This interview is based on the prior Small Caps PTX100 interview context and the company’s Q4 FY26 quarterly update.
Botala Energy update: what 3.5B has shown at Serowe and what comes next
Botala Energy (ASX:BTE) joins Small Caps for a general company update focused on recent progress at the Serowe Coal Bed Methane Project in Botswana. The discussion covers what has changed recently at the Pitse Pilot, what management says the early 3.5B response means, what remains unproven on gas flow, how pilot data could feed into reserves and BFS work, and the practical milestones investors can watch over the next 90 days. This interview references public company filings including recent Serowe CBM Project updates, the June 2026 quarterly report and related operational announcements.
Small Caps: Resolution Minerals hits near-surface gold at Golden Gate South
Craig Lindsay from Resolution Minerals discusses new drilling results from Golden Gate South in Idaho, including near-surface gold intercepts and what they may mean for the wider Horse Heaven project. The conversation also covers tungsten, the Stibnite analog, Fast 41 permitting support in the US, and the timeline to a maiden resource estimate in early 2027. Key Highlights The first three holes at Golden Gate South returned 305.7 metres at 0.64 grams per tonne gold. Craig Lindsay said the drilling is about 2,000 metres south of Golden Gate North and may connect the two areas. The company has drilled about 25 holes at Golden Gate South and expects 40 plus holes to be released from September through November. The total program covers 45 holes for 13,700 metres across Golden Gate. Resolution Minerals said it has two Fast 41 project designations and is targeting a maiden resource estimate in Q1 2027. About Small Caps Small Caps covers ASX small-cap companies, markets and the issues moving Australian investors. Host Craig Lindsay speaks with company executives and industry participants about projects, drilling, funding, regulation and market developments. Disclaimer This podcast is for educational and entertainment purposes only and should not be considered financial advice. All investments carry risk, including the potential loss of principal. Listeners should conduct their own research and consider seeking professional financial advice before making investment decisions. #SmallCaps #ASXInvesting # #AustralianStocks #Investing #Podcast
Kincora Copper plans 25,000m Lachlan Fold Belt drilling
Kincora Copper plans up to 25,000 metres of air-core drilling across Nyngan West, Fairholme, Cowal East and Trundle in the Lachlan Fold Belt of central west New South Wales. Sam Spring explains how the $3 million sole-funded programme fits alongside AngloGold Ashanti-funded work and the company’s hybrid prospect generator model. Key Highlights Up to 25,000 metres of air-core drilling is planned across four projects, covering 340 holes. Nyngan West has never been drill-tested and is being assessed for ultramafic and Macquarie Arc mineral systems. Fairholme drilling will target the Gateway gold corridor and the previously untested Narang target. Cowal East drilling will test structures and geophysical anomalies near the Cowal mine and Marsden discovery. Trundle drilling will use shallow holes and exploration spacing comparable with work at Northparkes. Nine diamond holes have been completed at the Adkin Condobolin Project, with full assay results pending. Geoscience AI has completed 30 reviews to help assess existing projects and new opportunities. About Small Caps Small Caps Spotlight covers Australian small-cap companies and the projects, funding and milestones shaping their businesses. The episode is hosted by Sam Spring. Disclaimer This podcast is for educational and entertainment purposes only and should not be considered financial advice. All investments carry risk, including the potential loss of principal. Listeners should conduct their own research and consider seeking professional financial advice before making investment decisions. #SmallCaps #ASXInvesting # #AustralianStocks #Investing #Podcast
SmallCaps Spotlight: Austral Resources (AR1.ASX) — Rocklands restart, Rocklands power and the Hammer Metals play
Episode snapshot What’s changed in two months: CFO appointment, half-year results, funding and transaction updates Financial read-through: profit driven largely by acquisition accounting, with attention shifting to operating momentum Mount Kelly / Antil update: termination of the Antil project agreement to unlock own-copper exposure Rocklands restart funding: $15 million royalty financing from QIC for stage two scoping and alternative power studies Restart timetable focus: on-track engineering/procurement with key near-term milestones Hammer Metals acquisition: proposed deal to help secure feedstock and mill utilisation as existing sources deplete Key topics covered with David Newling 1) CFO appointment — building for the restart era David explains why the timing is right: the company is preparing for the period where Rocklands is back up and running, with emphasis on strengthening internal capability across functions such as finance, investor relations and ESG. 2) Half-year results — what investors should and shouldn’t over-interpret The half-year statutory profit is highlighted as being primarily influenced by the gain associated with the Durand Pacific (Lady Loretta) acquisition. Underlying operations are still shaped by the Antil arrangement, which constrained the operating revenue line. With Antil terminated, the company expects a more meaningful operating revenue contribution in the back half. 3) Termination of the Antil arrangement — restoring Mount Kelly copper exposure Management describes the strategic effect as giving Austral its own production material back, enabling: Immediate exposure to the copper price through own output A path to increase the run rate at Mount Kelly over the back half of the year 4) QIC royalty financing — why power is central to Rocklands scaling Austral has locked in $15 million in royalty financing to support: Stage two scoping Alternative power studies David frames Rocklands expansion in practical terms: capacity growth isn’t small-scale, and power solutions are a gating factor for the next step in throughput. He also references the relevance of Copper String and government expectations around future demand. 5) Rocklands — evidence for utilisation and what’s still to be proven The company reiterates confidence that the current 3 mtpa facility can be fully utilised through to at least 2034, supported by owned assets and planned feedstock sequencing. The “Goldilocks” dilemma for expansion is acknowledged: Austral believes expansion will occur, but the study work will determine the right size without creating a power-constrained mismatch. 6) Near-term restart milestones to watch David points to signals that the schedule is holding, especially: Arrival of the SAG mill on site (expected this quarter) Ongoing logistics and permits for oversized transportation between New South Wales and Queensland Regular updates as major “jigsaw pieces” move through installation and commissioning 7) Hammer Metals acquisition — securing feedstock continuity Austral’s proposed acquisition of Hammer Metals is positioned as strategically compelling because it can provide additional processing feedstock when existing sources begin to deplete. Key strategic reasoning includes: Geographic fit (around 60 km from Rocklands by road) Improved ability to manage timing and consistency of mill feed Alignment with Austral’s stated focus on Queensland-only strategy David also outlines what’s confident versus what remains too early to claim — particularly around approvals and permit timing. Listener takeaways Antil termination appears to be a key step in restoring operational momentum for Mount Kelly. Power is shaping the Rocklands expansion conversation more than any single technical variable. The company is trying to “de-risk” the restart story with both funding for studies and a feedstock strategy (Hammer Metals). For investors, the next catalysts are equipment and logistics milestones into the Rocklands restart window, alongside progress on stage two scoping. What to watch next (practical checklist) SAG mill arrival and ongoing oversized logistics milestones this quarter Regular operational updates as commissioning components land and are installed Stage two scoping progress for Rocklands expansion and the evolving power solution pathway Hammer Metals deal progression through shareholder and regulatory approvals This episode is for information purposes only and does not constitute financial advice. Disclaimer This podcast is for educational and entertainment purposes only and should not be considered financial advice. All investments carry risk, including the potential loss of principal. Listeners should conduct their own research and consider seeking professional financial advice before making investment decisions. Contact & Social Website: SmallCapsSpotlight.com.au Email: hello@smallcapsspotlight.com.au Twitter: @SmallCapsSpot LinkedIn: SmallCaps Spotlight #SmallCaps #ASXInvesting #AR1.ASX #AustralianStocks #Investing #Podcast
SmallCaps Spotlight: Prescient Therapeutics (PTX.ASX) and PTX100’s CTCL pivotal push
Episode snapshot Company: Prescient Therapeutics (PTX.ASX) Lead asset: PTX100 (first-in-class small molecule) Clinical focus: CTCL (T-cell lymphoma with skin manifestations) Programme status: Global Phase 2A dose-optimisation underway Key discussion points 1) What is PTX100 and how does it work? PTX100 is described as a small molecule inhibitor of GDTAS1. The enzyme is linked to the RAS pathway, supporting prenylation so mutated RAS proteins can remain active. By inhibiting GDTAS1, PTX100 aims to disrupt continuously active RAS-driven signalling in tumour cells. 2) Why CTCL as the first indication? In earlier Phase 1B data for CTCL, management highlighted: 43% objective response rate (complete/partial responses) Remaining patients reported with stable disease Overall clinical benefit rate of 100% for the cohort referenced in the discussion The conversation also framed CTCL as a high-impact disease due to skin involvement (itching, disrupted sleep, infections, and social burden). 3) Phase 2A progress and recruitment momentum PTX100 is running as a global Phase 2A programme with sites in Australia, the US and Italy, and an intention to initiate France. 28 patients dosed at the time of recording. A dose optimisation committee (DOC) review is planned once there are 10 evaluable patients per arm. “Evaluable” is defined in the episode as patients who have received at least four cycles of therapy. The programme is positioned to work towards the halfway/dose decision milestone towards the end of the year. 4) DOC significance and the next regulatory steps The DOC is expected to help select the best dose among two dosing arms. Following that, the company expects engagement with the FDA, including a Type B meeting. The pathway discussed could lead to a pivotal/registrational approach depending on outcome and alignment. 5) Fast track, orphan designation — what it changes PTX100 has been discussed as having FDA fast track designation in a CTCL subtype (noted in the episode as Mycosis fungoides). The episode also touched on orphan designation implications (market exclusivity) and the commercial significance of these regulatory programmes. 6) Broader market signals from recent CTCL dealmaking The episode references a Sobey-linked acquisition price (US$580m) for a rival CTCL asset (lacutamab). Management framed the deal as validating CTCL’s value and highlighted differences in fast track scope between assets. 7) Platform potential beyond CTCL Management suggested PTX100’s mechanism targets a pathway relevant across multiple cancers, referencing RAS pathway involvement across a broad share of tumours. The plan is to complete CTCL first, then explore additional tumour types, potentially beginning with an orphan approach. 8) How cell therapy assets fit long-term (CellPrime & OmniCar) The episode described CellPrime and OmniCar as part of the longer-term asset base. PTX100 is characterised as the near-term priority for progress and potential partnering, with an expectation that Cell therapy programmes may require specialist partners. Milestones investors are watching (next 6–12 months) End-of-year DOC review for Phase 2A dose optimisation Dose selection and subsequent discussions on the shape of the next pivotal/registrational component Continued partner engagement as the programme matures (noted as potentially earlier than a full deal, depending on the dose decision timing) Final takeaway If the DOC review confirms a clearly differentiated dose with favourable safety and efficacy signals, the episode suggests PTX100 could move closer to a registrational/pivotal pathway, with regulatory momentum supported by earlier fast track/orphan status and market validation from CTCL transactions. Disclaimer This podcast is for educational and entertainment purposes only and should not be considered financial advice. All investments carry risk, including the potential loss of principal. Listeners should conduct their own research and consider seeking professional financial advice before making investment decisions. Contact & Social Website: SmallCapsSpotlight.com.au Email: hello@smallcapsspotlight.com.au Twitter: @SmallCapsSpot LinkedIn: SmallCaps Spotlight #SmallCaps #ASXInvesting #PTX.ASX #AustralianStocks #Investing #Podcast
SmallCaps Spotlight: Infragreen (IFN) — record FY26, dividends and a $10m buyback
Key highlights Record FY26 results: Underlying revenue up 26% to $116.8m Underlying EBITDA up 29% to $23.9m Underlying NPAT up 325% to $7.1m Capital management in focus: Fully franked final dividend (up to 1.0 cent total dividend mentioned) $10m share buyback in process Net debt down to $14.1m (~0.6x FY26 EBITDA) FY27 outlook: strong second-half momentum said to be continuing into the new financial year. Segment 1: What drove the FY26 “record year”? Management points to strong operational contributions across the portfolio, particularly Minamet, Energy Build and Pure Environmental. The conversation highlights record-quarter performance as the year concluded, and how guidance was exceeded for EBITDA. Segment 2: Is the FY27 run-rate sustainable? Discussion focuses on typical seasonal strength (May/June) and whether results reflect one-offs or underlying momentum. Management indicates the outlook looks particularly good across the businesses after completing a “go-around the grounds” review. Segment 3: Diversification and weather risk Infragreen’s diversified structure is framed as a risk mitigant: weather impacts can be concentrated in particular regions, but the portfolio spans multiple states and business types. Segment 4: Dividends, franking and payout policy Dividend approach referenced as a 25%–50% of NPAT target range. FY26 payout said to land toward the lower end (29%) to preserve flexibility for buybacks and capital management. Management emphasises that dividends from operating businesses are fully franked, supporting a healthy franking balance. Portfolio dividend flow update: Dividends received from portfolio businesses more than doubled to $6.3m Each business expected to pay quarterly dividends Segment 5: Net debt and capital allocation Net debt declined to $14.1m, with the parent holding $8.7m cash (no borrowings at the parent level mentioned). Strategy described as a “default position” to pay down debt for flexibility, while still pursuing dividends and buybacks based on opportunities and acceptable returns. Segment 6: Business-by-business snapshot (FY26 themes into FY27) Energy Build: Strong growth attributed to construction standards tailwinds (e.g., increased solar adoption under building requirements) FY27 expected to continue growing, but at a different rate than FY26, with a broader product mix (solar panels, smart meters, batteries) and incremental geographic expansion. Pure Environmental (divestment process alongside operations): Management explains that day-to-day operations continue with a mature team and growth focus, while a sale process is evaluated. Minamet Recycling: Discussion on ferris scrap pricing being softer mid-year, with recovery into the fourth quarter. Emphasis on the ability to maintain margin through gate pricing adjustments. Meriden Energy: Earnings leaned on capacity credit income. Capacity credits described as contracted and visible, with arrangements extending out to 2041. Segment 7: Pipeline and strategic review The session references reviewing 57 new platform opportunities and completing bolt-on acquisitions. Ongoing portfolio activity and potential parallel pursuit of opportunities while sale processes run (as discussed for Pure). What to watch next Whether second-half momentum translates into a similarly strong FY27 run-rate. Continued progress of the $10m buyback and how capital is balanced with debt reduction. Confirmation of dividend trajectory within the 25%–50% of NPAT target range and franking sustainability. Updates from each platform business on operational execution and pipeline conversion. Presented by SmallCaps Spotlight. Content based on the provided transcript and company summary details. Disclaimer This podcast is for educational and entertainment purposes only and should not be considered financial advice. All investments carry risk, including the potential loss of principal. Listeners should conduct their own research and consider seeking professional financial advice before making investment decisions. Contact & Social Website: SmallCapsSpotlight.com.au Email: hello@smallcapsspotlight.com.au Twitter: @SmallCapsSpot LinkedIn: SmallCaps Spotlight #SmallCaps #ASXInvesting #IFN.ASX #AustralianStocks #Investing #Podcast
SmallCaps Spotlight: Market Calm, Gold Momentum & the Small-Cap Watchlist
In this episode Big tech signal check: NVIDIA posts a $96bn quarter and beats expectations—yet the stock still wobbles after hours. Rates and the Fed: The market is now pricing a hike, not a cut. Bond buyback chatter: Discussion of whether potential Treasury-funded bond buybacks could keep yields contained. US dollar impact: A softer US dollar helps explain gold’s rally. Commodities snapshot: Gold: Moves from roughly US$4,160/oz to near US$4,700/oz; central-bank buying (including China) remains a key structural theme. Silver: Seen as highly correlated to gold, with expectations of upside. Oil: Despite Middle East tensions, oil looks set for a breakdown. Currency angle: A note on the Aussie vs USD cross—framed as something markets may be watching closely. Why it matters for small caps When yields, the US dollar, and risk appetite shift, smaller Australian companies can feel it quickly—through: financing costs and refinancing risk, currency translation for revenues/materials, equity sentiment (especially where growth stories depend on capital markets). Small-caps watchlist — coming up next In the wrap, the hosts tee up this week’s small caps worth watching, using the macro backdrop to frame what to monitor: balance sheet resilience in a rates-sensitive environment, earnings quality versus accounting noise, commodity-linked exposure where relevant (notably gold/silver themes), and sector winners/losers as the market rotates. Important note This episode is general information only and does not constitute financial advice. Disclaimer This podcast is for educational and entertainment purposes only and should not be considered financial advice. All investments carry risk, including the potential loss of principal. Listeners should conduct their own research and consider seeking professional financial advice before making investment decisions. Contact & Social Website: SmallCapsSpotlight.com.au Email: hello@smallcapsspotlight.com.au Twitter: @SmallCapsSpot LinkedIn: SmallCaps Spotlight #SmallCaps #ASXInvesting # #AustralianStocks #Investing #Podcast
SmallCaps Spotlight: Barton Gold (BGD.ASX) — de-risking Tunkillia, Challenger and the next restart pathway
Episode overview Barton Gold snapshot (BGD.ASX): Dual-hub gold development strategy in South Australia, combining mill restart optionality with flagship project scale. Near-term focus: Potential operations restart using the fully permitted central Gawler Mill. Flagship development: Tunkillia (1.6Moz gold product project) progressing resource upgrades and PFS work. Other key workstreams: Challenger drilling and study inputs, plus Tolmer silver infill drilling. Key discussion points 1) What’s changed in the last six months? Challenger project: Approximately 10,000m drilled to support resource upgrading and identify new high-grade mineralisation and further open-pit potential. Tunkillia (large-scale) drilling: Completion of a 58,000m drill-out designed to convert mineralisation from earlier study categories toward measured/indicated outcomes. Tolmer silver: Infill drilling at the high-grade silver discovery between Challenger and Tunkillia. Studies underway: Scenario modelling and metallurgical testing feeding Challenger definitive feasibility and Tunkillia pre-feasibility, including mill leverage at Gawler and planning for a second mill at Tunkillia for large-scale operations. 2) Tunkillia phase two infill: what the results are telling the team Results are broadly in line with expectations, indicating strong conversion potential through the JORC category ladder. Focus on converting the central, higher-grade zone into a development-ready component capable of accelerated payback. Upside themes highlighted: Higher grade indications tied to oxide-zone structure opportunities (potential grade/volume and cash-flow uplift within the same pit concept). Thicker pit-end extensions than previously anticipated. 3) Study timetable: what’s targeted and why it matters Tunkillia PFS and Challenger DFS targeted for completion/publication in Q1 calendar 2027. Additional drilling was inserted mid-program to expand resource and strengthen metallurgical and geotech datasets. 4) Capital allocation and balance sheet flexibility Post placement positioning supported by a $25.9m institutional placement and a cash balance cited around $31.9m at the end of the June quarter. Management’s approach: funding key milestones while retaining flexibility for value-adding follow-ups (e.g., potential incremental work at Tolmer if infill supports additional upside). Operational continuity planning: mention of diesel stockpiling to reduce supply risk for field operations. Targets and themes to watch next JORC upgrades across the portfolio following drilling completion. PFS/DFS outputs and the quality of the transition from mineral resources toward reserves and financing-ready economics. Milestone-driven capital strategy: using reduced execution risk to improve options for lower-dilution funding. Disclaimer This podcast is for information purposes only and does not constitute financial advice. Always consider the latest ASX announcements and seek independent professional advice.
SmallCaps Spotlight: Macro Metals (M4M.ASX) on monetising non-core assets and scaling WA iron ore plus mining services
Episode highlights Agbaja disposal (Nigeria): why the non-core divestment was meaningful for Macro Metals, including the role of sale proceeds in strengthening working capital. Non-dilutive growth strategy: how Macro aims to advance its West Australian asset base and mining services division without continually diluting shareholders. Mining services + mine development: Macro’s evolution from exploration to a diversified model—winning contracts, then funding development organically. Partnership model: entering arrangements (e.g. right-to-mine/profit share or joint venture structures) to reduce exploration risk for the company. Yandi South (WA iron ore) update: the CID resource characteristics, low phos qualities, and why the tenure’s limited exploration improves upside. Planned next steps: mapping, sampling, drilling target definition, and updating the resource to contemporary JORC compliance. What to listen for The thinking behind the Agbaja divestment and how it ties into Macro’s broader portfolio focus. How mining services revenue can act as a funding engine for development. The near-border exploration opportunity at Yandi South given adjacent Pilbara operations. Company snapshot Macro Metals (M4M.ASX) is positioning as an Australian iron ore-focused mining and mining services business, with a portfolio centred on Western Australia’s Pilbara region. Note: This podcast episode is based on the provided transcript and context. For the latest material information, please refer to Macro Metals’ ASX announcements and investor presentations. Disclaimer This podcast is for educational and entertainment purposes only and should not be considered financial advice. All investments carry risk, including the potential loss of principal. Listeners should conduct their own research and consider seeking professional financial advice before making investment decisions. Contact & Social Website: SmallCapsSpotlight.com.au Email: hello@smallcapsspotlight.com.au Twitter: @SmallCapsSpot LinkedIn: SmallCaps Spotlight #SmallCaps #ASXInvesting #M4M.ASX #AustralianStocks #Investing #Podcast