Investors are likely to keep an eye on the following small-cap stocks listed on the Australian Securities Exchange.

Sarytogan Graphite (ASX:SGA)

Sarytogan Graphite secured a mining license for its graphite mine development following approval from Kazakhstan's Ministry of Industry and Construction. The license is valid for 25 years, with the option to extend for an additional 20 years.

Australian Oil (ASX:AOK)

Australian Oil received a third tranche payment of AU$300,000 from Blue Sky Resources, per the revised omnibus settlement agreement. The company also expects connection and final purchase date of the pipeline it is in the process of acquiring from Pacific Gas and Electric to its Rec Board wells in January 2025.

Athena Resources (ASX:AHN)

Athena Resources closed its renounceable pro-rata entitlement offer to raise AU$2.7 million on Dec. 23. The offer allowed eligible shareholders to subscribe for one share for every two shares held at a price of AU$0.004 apiece.

Connexion Mobility (ASX:CXZ)

Connexion Mobility posted a daily on-market buy-back of its ordinary fully paid securities, with 431,257 shares repurchased on the previous day.

Austral Gold (ASX:AGD)

Austral Gold subsidiary, Casposo Argentina Mining, signed a toll treatment agreement with Challenger Gold (ASX:CEL). Under the agreement, Casposo Argentina Mining will process mineralized material from Challenger Gold's Hualilan project in Argentina.