Proactive - Interviews for investors

Empire Energy Group Ltd managing director Alex Underwood sits down with Proactive’s Jonathan Jackson after the company secured Ensign Rig 965 to drill the Carpentaria-5H well on exploration permit (EP) 187, part of the Carpentaria Project in the Beetaloo Basin, Northern Territory.

The company has also contracted Halliburton to conduct fracturing and stimulation activities using a 44,000 hydraulic horsepower (HHP) fracking fleet, significantly more powerful than previous operations at Carpentaria. The drilling will target a 3,000-metre horizontal section in the Velkerri B Shale with 60 fracture stimulation stages.

Empire expects to begin drilling in late October 2024.

Pilot production sales are planned for mid-2025, with flow test results anticipated in Q1 2025. The company aims to install surface facilities to facilitate the sale of test gas into the McArthur River Pipeline.

These developments follow a successful capital raising and the progress of design and engineering works. Empire will use a 5.5-inch casing to enhance fracture stimulation rates, potentially increasing productivity. Surface facility installation is on track for Q2 2025, subject to regulatory approvals, which are well advanced.

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QEM Ltd (ASX:QEM) managing director Gavin Loyden joins Proactive’s Tylah Tully to discuss the outcomes of a scoping study for the Julia Creek Project in northwest Queensland, which demonstrates robust economic viability and no significant barriers to advance towards a pre-feasibility.

The post-tax NPV (8%) is estimated at A$1.106 billion with an internal rate of return (IRR) of 16.3%. Julia Creek is projected to generate a total revenue of A$21.7 billion over its 30-year mine life, primarily from vanadium pentoxide (A$11.5 billion) and transport fuel sales (A$10.1 billion). Pre-production capital expenditure is estimated at A$791 million, with a payback period of approximately five years from the start of mining operations.

The mine will target annual production of 10,571 tonnes of 99.5% pure vanadium pentoxide and 313 million litres of transport fuel. Mineralisation is to be sourced from a shallow open-cut pit, with an average strip ratio of 5:1. The project has a significant JORC mineral resource of 2.87 billion tonnes at 0.31% V₂O₅ and includes substantial oil resources.

QEM aims to supply high-purity vanadium pentoxide for energy storage applications, particularly Vanadium Flow Batteries. Additionally, the project aims to enhance Australia’s fuel security by producing transport fuel domestically.

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AuKing Mining Ltd managing director, Paul Williams (ASX: AKN) joins Proactive’s Jonathan Jackson to discuss the proposed acquisition of a 100% interest in the Grand Codroy uranium exploration project in Newfoundland, Canada.

The project is notable for uranium mineralisation within organic-rich siliciclastic rocks, resembling uranium deposits in the western United States. Historical rock samples from the Grand Codroy area have shown high-grade mineralisation, including uranium concentrations up to 22,000ppm (2.2%) and copper concentrations over 20,000ppm (2%).

The site offers significant exploration potential, as modern exploration in the area has been minimal. It is also strategically located around 50 kilometres north of Port aux Basques, Newfoundland, and is accessible via well-maintained roads.

Additionally, AuKing has raised $130,000 through a placement managed by Melbourne's Peak Asset Management, with further funding opportunities available to shareholders.

Williams, highlighted the positive industry outlook, emphasising the growing interest in uranium projects following the World Nuclear Association symposium. The acquisition enhances the company's portfolio, complementing its existing Mkuju uranium project in Tanzania.

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Sunstone Metals Ltd (ASX:STM) managing director Patrick Duffy joins Jonathan Jackson in the Proactive studio to discuss a $2.5 million raise through the placement of 500 million new fully paid ordinary shares, priced at 0.5 cents ($0.005) each, representing a 28.6% discount to the last closing price.

Additionally, 250 million options will be issued on a one-for-two basis, exercisable at a 50% premium to the offer price, subject to shareholder approval.

Proceeds will be used for the preparation of a maiden mineral resource estimate (MRE) at the El Palmar Copper-Gold Project in northern Ecuador and for the Limon gold-silver discovery at the Bramaderos Gold-Copper Project, with the latter scheduled for next year. The company aims to advance partnership discussions to accelerate exploration and resource growth at both projects.

Alongside the placement, Sunstone will offer a share purchase plan (SPP) to eligible shareholders, aiming to raise up to $2 million at the same price. Directors will participate in the placement for a total of $130,000, pending shareholder approval. Morgans Corporate Limited and Canaccord Genuity acted as joint lead managers. Settlement and trading of new shares will occur on September 13 and 16, respectively.

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Cyclone Metals Ltd (ASX:CLE) CEO Paul Berend joins Proactive’s Tylah Tully to discuss how it has started small-scale production of direct reduction (DR) grade pellets at its Iron Bear Project in Canada.

These pellets are critical for producing low-carbon steel, particularly green steel. The company has received positive results from pilot plant test work that yielded high-quality magnetic products.

Cyclone is also exploring large outcrops of potential haematite direct shipping ore (DSO) and magnetite identified during recent field geological surveys. Additionally, 18 tons of sediment have been sent to the lab for further testing.

Berend expressed optimism about the demand for DR pellets due to expanding DR steel production facilities globally. Cyclone is coinfident of meeting development goals, including establishing a joint venture to fund the project’s advancement.

The company is also testing different chemical compositions of DR pellets, with results expected soon. Phase 4 pilot test work is underway and Cyclone anticipates starting negotiations for offtake agreements with customers by the end of 2024 for concentrates and in early 2025 for pellets.

Fieldwork also continues with potential discoveries outside the current mineral resource estimate of 16.6 billion tons of iron.

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Empire Metals Ltd (AIM:EEE) managing director Shaun Bunn speaks with Proactive's Stephen Gunnion about a new diamond drilling campaign at the Pitfield Project in Western Australia. The diamond drilling campaign, as Bunn explained, will focus on identifying and mapping the size, shape, and depth of high-grade anatase mineral zones. The current effort aims to enhance the understanding of the weathered zones at the Cosgrave and Thomas prospects, which is critical for determining the project's overall economic potential.

Bunn also highlighted that the company’s previous exploration results identified between 4 and 4.9 billion tons of near-surface weathered material. He emphasised the importance of the current drilling to refine the model, particularly with weathered zones extending deeper than previously thought, reaching up to 80 meters.

“This is really changing the economics of the ore body,” Bunn noted.

In addition to the ongoing drilling, Empire Metals has strengthened its project development team with the appointment of a new senior geologist, Tsog Batsaikhan. Bunn expressed confidence in the team’s expanded technical expertise, which will play a vital role in advancing the project.

Visit Proactive's YouTube channel for more interviews and updates. Don’t forget to give this video a like, subscribe, and enable notifications for future content.

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Falcon Gold CEO Karim Rayani joined Steve Darling from Proactive to announce that drill crews and equipment are now en route to the Great Burnt Copper Project in Central Newfoundland.

The company had previously experienced delays in the spring due to high water levels, which hindered access to the property. However, Falcon Gold has since completed 3km of additional road from the government access road, which is shared with Benton Resources, allowing drilling operations to proceed.

Rayani highlighted the potential of the Great Burnt Greenstone Belt, which is known for its copper and gold deposits. The project also encompasses the South Pond A and South Pond B copper-gold zones, as well as the End Zone copper prospect, all located along a 14-kilometer mineralized corridor.

This corridor follows a conductive trend that extends into Falcon's Great Burnt Copper Property.

The initial drilling campaign will test up to ten geophysical anomalies, with 1,100 meters of drilling planned.

Additionally, the company has submitted an application for a secondary permit to expand the drilling program by an additional 2,000 to 3,000 meters, as Falcon Gold aims to further explore the property’s copper and gold potential.

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Delivra Health Brands CEO Gord Davey shared exciting updates with Steve Darling from Proactive about the company’s rapid expansion and product innovations. The company has successfully secured eight new national customers, adding 3,000 new distribution points to its network. This expansion is driving greater production efficiency and helping to lower costs across multiple product lines.

Davey also announced the Canadian launch of Dream Water Sleep Gummies, now available on Amazon and in major retailers. Additionally, the company is introducing the Dream Water Immunity Sleep Shot, bringing its U.S. innovations to the Canadian market.

Research and development remain central to Delivra’s strategy, with a robust pipeline of new products across its Dream Water and Live Relief brands.

Delivra is also investing in marketing, with new campaigns for both brands set to launch this fall, signaling continued growth and innovation in the near future.

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Chesnara PLC (LSE:CSN) CEO Steve Murray takes Proactive's Stephen Gunnion through the company's first-half financial performance, strategic outlook, and future opportunities.

Murray highlighted Chesnara's strong commercial cash generation of £29 million, up from £22 million last year, which supports the company's progressive dividend policy. Murray noted the company's robust solvency ratio of over 200%, giving it the financial flexibility for further M&A opportunities, potentially up to £200 million.

"We've got a strong balance sheet with lots of solvency headroom, which provides capacity to do M&A," Murray said, indicating Chesnara’s readiness to pursue consolidation opportunities in the insurance sector. The company has also announced a 3% dividend increase, marking the 20th consecutive year of dividend growth.

Murray also touched on the regulatory environment, particularly the introduction of consumer duty for closed books in the UK, and the company’s efforts to align with new regulations without significant commercial impact.

For more insightful interviews and updates, make sure to visit Proactive's YouTube channel, give the video a like, and subscribe to stay informed about future content!

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Light Science Technologies Holdings PLC (AIM:LST) CEO Simon Deacon speaks with Proactive's Stephen Gunnion about the company's recent successes in the Passive Fire Protection (PFP) division, announcing the completion of new contracts worth £145,000. These projects, located in London and Liverpool, contribute to a total of £2 million in work expected to be completed within the financial year. Deacon highlighted the efficiency of their injector-clad product, which plays a crucial role in preventing fire spread through building cavities, a key safety feature following the Grenfell inquiry.

The conversation also covered the potential for repeat business in the fire protection sector, as Light Science Technologies continues to secure contracts with major public companies in need of remedial work. Deacon emphasised the company’s innovative product that expands to seal cavities, offering up to two hours of fire resistance. Looking ahead, Deacon noted the promising market conditions and a record-breaking year for the group, supported by £50 million in quoted business across various divisions.

With over 33,000 buildings in need of fire protection updates, Light Science Technologies sees significant growth potential in the sector. As Deacon explained, the company is not only focused on remedial work but also new buildings, ensuring safety and compliance with modern fire safety standards.

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