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

Alto Metals (ASX:AME)

Alto Metals started a reverse circulation drilling program at its Sandstone gold project in Western Australia, aiming to test extensional targets beyond the current mineral resources at the Vanguard, Ladybird, and Bull Oak deposits. The drilling program also includes first-pass drilling at the Lightning Prospect to test a coherent gold anomaly.

Firebrick Pharma (ASX:FRE)

Firebrick Pharma will open a share purchase plan allowing eligible shareholders to subscribe for shares at a price of AU$0.055 apiece to raise up to AU$2 million. The company plans to use the funds to expand marketing initiatives for its Nasodine nasal spray in Singapore and the US and for working capital purposes.

Battery Age Minerals (ASX:BM8)

Battery Age Minerals identified spodumene-bearing pegmatite during the maiden drilling program at the Falcon Little Lake target and an expanded strike length at the Falcon East Extension as the company received initial assay results from its 2024 summer program at the Falcon Lake lithium project in Canada.

Equinox Resources (ASX:EQN)

Equinox Resources started a reverse circulation drilling campaign at its Campo Grade Rio Negro prospect, within its Campo Grande rare earths project in Bahia, Brazil, targeting high-grade monazite sands and hard rock-hosted rare earths. Meanwhile, reverse circulation and auger drilling are underway at its Mata da Corda project in Minas Gerais.

Horizon Minerals (ASX:HRZ)

Horizon Minerals entered into a joint venture agreement with BML Ventures to develop and mine two open pits at the Phillips Find gold project in Western Australia. BML will handle all management, technical, operational, and maintenance roles with oversight by the company.

Chilwa Minerals (ASX:CHW)

Chilwa Minerals received the geophysical interpretation of aeromagnetic and radiometric surveys at the Chilwa project in Malawi, identifying multiple geophysical anomalies within license boundaries. The company is incorporating the information into an updated drill plan for assessing heavy mineral sands at Lake Chilwa.

Mineral exploration company Belararox (ASX:BRX)

Belararox agreed to acquire 100% of KCB Resources, the owner of a highly prospective exploration package on the Kalahari Copper Belt in Botswana. Terms of the transaction include the issue of up to 9 million Belararox shares to KCB Resources shareholders over three years.