Highlights

FDR’s share price rose 113.51% on the back of Farmin Agreement with TIMOR GAP, which increased their interest in PSC 19-11 and provided funding support for the project.

ECT’s share price rose 104.23%, following the acquisition of Terrajoule Pty Ltd for PFAS remediation technology and an AUD 3M placement of 50M shares.

Share price rose 43.33% after acquiring the Yellow Pine Antimony Project in Idaho, USA, and raising AUD 1.5M via a two-tranche placement.

The S&P/ASX 200 recorded modest gain of 0.10% on Thursday, while the S&P/ASX Small Ordinaries Index (XSO) slipped 0.25% to 3,678.20 points. Despite the broader small-cap index decline, three ASX-listed small-cap companies—Environmental Clean Technologies (ECT), Red Mountain Mining (RMX), and Finder Energy (FDR)—have significantly outperformed the XSO. The performance of these stocks was driven by the latest business updates released today, 25 September 2025.

Environmental Clean Technologies

Environmental Clean Technologies (ASX:ECT), based in Melbourne, develops technologies for upgrading, recovering, and converting low-value or waste resources.

ECT’s share price is currently trading at AUD 0.145 per share, compared to the last close of AUD 0.071, showing a change of 104.23%.

The company has agreed to acquire Terrajoule Pty Ltd, which holds an option with Rice University for its Flash Joule Heating (FJH) technology to treat PFAS and heavy metals in soil. The company has also raised AUD 3M through a placement of 50M shares at AUD 0.06 each. After the acquisition, ECT will have access to Rice University’s Rapid Electrothermal Mineralisation process.
From 1 October 2025, Faldi Ismail will move into the role of Executive Chairman.

Red Mountain Mining Limited

Red Mountain Mining (ASX:RMX) is a mineral exploration company with projects in Australia, the US, and Canada, focusing on antimony, gold, and lithium.

RMX’s share price is currently trading at AUD 0.021 per share, compared to the last close of AUD 0.015, showing a change of 43.333%.

The company has acquired the Yellow Pine Antimony Project in the Stibnite Mining District, Idaho, USA, through staking of 29 claims covering 242.46 hectares. The project is located within 2 km of Perpetua Resources’ Stibnite Gold-Antimony Project. The acquisition cost was about USD 52k. RMX has also secured AUD 1.5m via a two-tranche placement at 1.3c per share, with part of the shares subject to shareholder approval at the upcoming AGM in November 2025.

Finder Energy Holdings Limited

Finder Energy (ASX:FDR) explores and develops oil and gas projects in Australia’s Northwest Shelf, Timor-Leste, and the North Sea (UK) with permits including AC/P 61, WA-547-P, PSC 19-11, and P2610–P2656.

FDR’s share price is currently trading at AUD 0.395 per share, compared to the last close of AUD 0.185, showing a change of 113.513%.

The company has executed a Farmin Agreement with TIMOR GAP to increase their interest in PSC 19-11 from 24% to 34%. Under the agreement, TIMOR GAP will contribute 50% of development capex for the KTJ Project up to a gross cap of USD 338 million and provide funding support of up to USD 15 million prior to FID. Finder retains a 66% interest and operatorship of PSC 19-11. Completion of the Farmin is expected around late October 2025, subject to approvals. The project team is advancing FEED, subsurface evaluation, and other project elements to support FID by mid-2026.