Small Cap Watch: Terrain, Terra, Carnavale, Krakatoa, Kairos and more...

Company Updates - Terrain Minerals Ltd has commenced diamond drilling at its 100%-owned Smokebush Gold & Silver Project, aiming to define a maiden JORC Mineral Resource targeted for mid-2026, with an initial program of four diamond holes and further RC drilling planned at the Wildflower prospect [2] - Carnavale Resources Ltd has entered a more advanced development phase by starting a Bankable Feasibility Study drilling at the Kookynie Gold Project, engaging Terra Drilling for detailed metallurgical diamond drilling and planning to mobilize two additional RC rigs for infill resource drilling [3] - Nova Minerals Ltd is undergoing a significant reorganisation due to the loss of its Foreign Private Issuer status, planning to redomicile to the U.S., acquire the remaining 15% interest in the Estelle Gold and Critical Minerals Project, and search for a U.S.-based CFO [4] - Kairos Minerals Ltd reported maiden drill results from the Main Hill Extension target at its 1.4Moz Mt York Gold Project, with results from 35 of 46 completed drill holes expected to enhance the existing resource [5] Market Overview - The S&P/ASX Small Ordinaries index closed higher by 15.40 points or 0.41% to 3,809.10, despite being under pressure over the past week with a decline of almost 5% [1]