Azzet reports on three small cap stocks with price moving updates today.
Lake Resources rallies following market update ~
Shares in Lake Resources (ASX: LKE) were up 13.8% by 2:25 pm AEDT (3:25 am GMT) after the lithium developer announced significant progress with its Kachi Lithium Brine Project, achieving substantial resource upgrades and cost reductions.
The project now boasts a total resource of 11.1 Mt LCE, making it the largest independent development in Argentina’s lithium triangle, with improved resource estimates and reduced capital and operating expenses.
Substantial resource upgrades for the company’s flagship Kachi Lithium Brine Project during FY25 included:
An upgraded Measured Resource, which rose by more than 25%to 4.2 million tonnes LCE (lithium carbonate equivalent).
Measured and Indicated Resource increased by around 10% to 8.2 Mt LCE.
Lake also announced a DFS Addendum for Phase One of Kachi, showing material capex and opex reductions:
- Capex fell 16%.
- Opex declined by 3%.
- NPV improved to US$1,469 million, among other enhancements.
Post-balance date, in July 2025, Lake announced the successful completion of the Front-End Engineering Design for Kachi’s power supply, and in August 2025, the company reported an updated lithium Ore Reserve based on higher direct lithium extraction recovery rates associated with Lilac’s improved proprietary ion exchange technology.
It’s understood that an optimised mine plan can now deliver a 25,000 tonne per annum operation with fewer wells, higher lithium grades and improved lithium recovery rates, over a 25-year life of mine.
The company’s partnership with Lilac Solutions has also enhanced its technological capabilities, which management believes positions Kachi as a cost-effective and environmentally responsible lithium producer.
Management told the market today that the continuing technology, process and testing improvements by Lilac have enhanced Kachi’s market position as a first-quartile cost producer with a robust, tested project model.
Meanwhile, the recent upturn in the lithium market, driven by increased demand for battery energy storage systems, is also expected to further strengthen Lakes’ market position, with analysts projecting a supply deficit and rising prices.
Lithium prices are currently on the rise, with the carbonate price reaching its highest level in 14 months overnight.
Equally encouraging, Macquarie is bullish on lithium prices and asserts that a new price cycle is underway.
While Barrenjoey now projects a supply deficit to emerge by fiscal 2027 of 2 to 4% due to BESS demand, which has “consistently surprised’ multiple other analysts have also upgraded their pricing forecasts.
Goldman Sachs has also recommended “briners over miners” due to the lower cost base of lithium brine producers such as Lake.
Mid-August saw Lake raise around $10-million to finance an environmental-impact assessment for the Kachi project.
Lake Resources has a market cap of $147 million; the share price is up 38% on one year and up 85% in the last month.
The stock appears to be in a Medium-term rally confirmed by multiple indicators.
Consensus does not cover this stock.
Stakk rallies after expanding its US banking footprint
Shares in Stakk Ltd (ASX: SKK) were trading 13.6% higher after the Australian fintech small cap announced a multi-year Master Service Agreement (Agreement) with Stride Bank, N.A., headquartered in Enid, Oklahoma, in the U.S.
While it’s not the largest U.S. client secured by Stakk, management told the market today that the partnership with Stride Bank represents an important and strategically valuable addition to the company’s growing American footprint – demonstrating that Stakk’s momentum is not limited to large, globally recognised brands.
Under the multi-year agreement with Stride Bank, Stakk will deliver its Stakk IQ solution – specifically its market-leading mobile image capture, image authentication, OCR, risk intelligence and document/data orchestration modules – to enhance deposit and payment acceptance functionality for its broad base of American customers.
Together with recently announced agreements involving Robinhood Markets, Inc., Chime Financial Inc., T-Mobile US, Inc., and SoFi Technologies, Inc., this new agreement is expected to further strengthen Stakk’s trajectory in the U.S. and contribute meaningfully to its rapidly accelerating Annualised Recurring Revenue (ARR).
Stakk is now blowing through its previously-projected milestone of US$8.0 million ARR by the end of the calendar year – a milestone it originally anticipated achieving with far fewer major enterprise contracts than it has already secured.
Commenting on today’s update, Nikhil Ghanekar, Chairman of Stakk, told the market that the contract with Stride Bank proves the company can serve both sides of the market: the global brands making headlines, and the community-focused institutions that power everyday financial life for millions.
“To be selected by banks and enterprises across such a broad cross-section of American industry is a testament to our team, our technology, and our relentless focus on customer critical infrastructure,” he said.
“Our ARR momentum is real, it is accelerating, and it reflects a company with growing credentials and an incredibly energised shareholder base. Not every win will be massive – but every win matters, and every win compounds.”
The deal, which will see Stakk’s image capture, authentication, OCR and document/data orchestration capabilities integrated into T-Mobile’s new app, follows on from a similar one with major US trading platform Robinhood.
To the uninitiated, Stakk is a provider of embedded-finance infrastructure delivering SaaS capabilities to banks, credit unions, neobanks, and fintech platforms across Australia and the US.
In late October, the company announced record growth across its Stakk IQ platform, with ARR increasing by 312.5% to $4.5 million, compared to $1.44 million in January.
Stakk’s share price has been on a tear since inking a three-year agreement with T-Mobile USA back in September.
Since mid-September, the share price a catapulted from $0.006 to $.066 on 27 October, but since then has lost some ground.
Stakk Limited has a market cap of $120 million; the share price of up 600% year to date and down 7% in the last month.
Despite the near-term weakness the stock is showing, it appears to be in a long-term uptrend, confirmed by multiple indicators.
Consensus does not cover this stock.
Marmota Ltd rises after updating on Aurora Tank
Shares in Marmota Ltd (ASX: MEU) were up 4.4% this afternoon following revelations of additional high-grade intersections from the SA explorer’s flagship gold exploration program at Aurora Tank in the Gawler Craton (SA), which strengthens the case for a low-cost, near-surface development pathway.
New results show excellent continuity across multiple zones and follow earlier drilling that delivered several standout gold intervals among the strongest reported in the Gawler Craton in recent years.
Five weeks ago, Marmota announced bonanza gold grades from Marmota’s maiden drilling program (Stage 1) at the Greenewood gold discovery, which is yielding some of the best gold results seen in the Gawler Craton since the discovery of the Challenger deposit in 1995.
The results feature high grades, close to surface, with excellent continuity along strike and including exceptional thick high-grade intersections.
Today, Marmota told the market that the Greenewood gold Maiden MEU program: Stage 2 has started with drilling expected to continue throughout the rest of November and December, until the Christmas break.
Located 35km NW of Marmota’s flagship Aurora Tank gold deposit and 30km NE of the Challenger Gold Mine, Greenewood is part of the Golden Moon JV, with Marmota having 90% ownership via its 100% owned subsidiary Half Moon Pty Ltd.
Marmota’s 2025 maiden drilling program represents the first drilling at Greenewood since 2018.
Recent maiden drilling at its adjacent Greenewood and Mainwood deposits delivered impressive near-surface high-grade gold results, which include 24m at 12g/t gold from 20m, 28m at 5.6g/t from 24m and 28m at 6.4g/t from 44m.
Beyond the Greenewood gold discovery, Marmota has a copper project based at the Melton project on the Yorke Peninsula and a uranium project at Junction Dam adjacent to the Honeymoon mine, located in SA, around 75-80 km northwest of Broken Hill, NSW.
Marmota Ltd has a market cap of $87 million; the share price is up 89% year to date and down 4% in the last month.
The stock is in a strong bullish trend, confirmed by multiple indicators.
Consensus does not cover this stock.
This article does not constitute financial or product advice. You should consider independent advice before making financial decisions.
