Small Cap Watch: Small caps edge lower as resources companies advance exploration and funding plans

S&P/ASX Small Ordinaries (INDEXASX: XSO) slipped modestly, closing at 3,477.10, down 6.30 points or 0.18% for the session, and off 9.90 points or 0.28% over the past 5 days.

The RIU conference kicks off today, but several ASX-listed companies have already reported operational and funding updates across the resources sector. You can read about the following and more throughout the day.

Solis Minerals Ltd (TSX-V:SLMN, ASX:SLM, OTCQB:SLMFF, FRA:08WA) has mobilised its Brazilian exploration team to site, progressing target refinement, land access agreements and drill rig planning at its projects in Minas Gerais.

Resource Minerals International Ltd (ASX:RMI) has secured firm commitments to raise $3.50 million through a placement of 87.5 million shares at $0.04 each.

St George Mining Ltd (ASX:SGQ, FRA:S0G, OTC:SGQMF) reported further high-grade assay results from diamond drilling at its 100%-owned Araxá rare earths and niobium project in Brazil.

Astral Resources NL (ASX:AAR) provided an update on activities at its Mandilla Gold Project, where a 6-hole, 3,000-metre diamond drilling program is underway.