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

Canadian Phosphate (ASX:CP8)

Canadian Phosphate welcomed a decision by the US Department of Interior Secretary to include phosphate on an updated Final 2025 Critical Minerals List. The list is developed in coordination with the US Geological Survey.

Neometals (ASX:NMT)

Neometals' partner, Novana, secured a grant of 48.7 million euros from the Finnish government to support the development of its vanadium recovery project.

BPM Minerals (ASX:BPM)

BPM Minerals confirmed the footprint of a major gold system and defined a pipeline of exploration targets for 2026 following its regional exploration review and targeting work at the Forelands project in Western Australia.

NuEnergy Gas (ASX:NGY)

NuEnergy Gas completed drilling and well completion of TE-B01-003 well within its Tanjung Enim Production Sharing Contract Plan of Development 1 contract area in Indonesia. The well is the last of four planned coal-bed methane wells under the company's early gas sales initiative.

Noxopharm (ASX:NOX)

Noxopharm said the first dosing has been administered in the second part of the Heracles trial, a first-in-human trial for SOF-SKN, a drug candidate for autoimmune diseases.