Proactive - Interviews for investors

Lithium Universe Ltd (ASX:LU7, OTC:LUVSF) managing director Alex Hanly joins Jonathan Jackson in the Proactive studio to discuss the establishment of a joint committee with the Tribal Council representing the Abenaki Council of Odanak and the Abenaki Council of Wôlinak (W8banaki) to oversee the collaborative development of a proposed lithium refinery in Bécancour, Québec, Canada.

The committee is structured to ensure both parties are fully engaged and informed throughout the development process, promoting mutually beneficial relations. Each party will have two representatives who will manage communication, project timelines, culturally safe collaboration and compliance.

Hanly expressed his appreciation for the W8banaki representatives, noting their practical approach and extensive experience in battery supply chains and similar committees.

The W8banakiak, recognised as traditional landowners of the Bécancour Waterfront Industrial Park, play a critical role as key stakeholders in the proposed lithium refinery project. The W8banaki people historically occupied large-forested areas in southern Québec and parts of the northeastern United States before European arrival.

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FireFly Metals Ltd (ASX:FFM) managing director Steve Parsons joins Proactive’s Tylah Tully to discuss eight high-potential copper-gold exploration targets identified at its Green Bay Project in Canada.

The areas are centred on historically active mines and new untested volcanogenic massive sulphide (VMS) systems. The Green Bay area includes three historical mines within the same VMS system and these will be targets for further exploration.

The company highlighted significant drilling results at various targets, including Rambler Main Mine, Rambler East Mine, L5 Target, Lever-Tauch, South Brook, Lucky Strike, Twin Pond and Little Deer Mine. These areas have shown promising mineralisation, with notable intersections and rock chip samples indicating substantial copper and gold content.

FireFly has strengthened its exploration efforts by appointing Crispin Pike as vice president of exploration. The company has initiated downhole electromagnetic and regional gravity surveys, with additional surface drilling and a versatile time domain electromagnetic survey planned.

The company is also advancing the Ming mine development, which holds a resource of 30.2 million tonnes at 1.83% copper and 0.4 g/t gold. FireFly aims to upgrade its resources with new drilling and engineering studies, expecting significant developments in the coming months.

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Wishpond CEO Ali Tajskandar and Chief Financial Officer Adrian Lim joined Steve Darling from Proactive to share exciting news about the company's financial performance in the second quarter of 2024. Wishpond achieved its highest-ever Adjusted EBITDA for a second quarter, reflecting a remarkable 151% improvement compared to the same period last year. The company reported a positive Adjusted EBITDA of $541,610, up from $215,926 in Q2 2023, representing a significant increase and an Adjusted EBITDA margin of 9%.

In addition to this financial success, Wishpond's quarterly revenue reached $5,828,709 in Q2 2024, marking a 3% increase from the $5,639,417 generated during the same period in 2023. This growth was primarily driven by organic expansion, fueled by stronger product demand and the introduction of new products.

Tajskandar expressed confidence in the company’s future, anticipating record revenue and Adjusted EBITDA for the full year of 2024. This optimism is based on the growing traction of Wishpond's new Propel IQ bundled product and fresh sales generated by the recently launched SalesCloser AI virtual agent. The company continues to see robust demand for its offerings and maintains an active pipeline of sales opportunities.

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KindlyMD founder Tim Pickett joined Steve Darling from Proactive to share the company's impressive financial results for the second quarter, which ended on June 30, 2024. One of the major highlights was the successful completion of the company’s initial public offering (IPO), which raised approximately $6 million in gross proceeds. This milestone marks a significant achievement for KindlyMD as it continues to expand its operations.

In addition to the successful IPO, KindlyMD reported a remarkable 163.7% sequential growth in reimbursements from insurance payors. As Utah's first alternative medical treatment company to secure contracts with the state’s leading insurance providers, KindlyMD is driving forward this crucial revenue segment. The company now offers nearly 80% of comprehensive insurance coverage across Utah, partnering with top insurers such as Medicare, Select Health, Medicaid, and Blue Cross Blue Shield, according to the 2023 Utah Health Insurance Market Report.

Pickett emphasized that KindlyMD remains committed to providing non-opioid treatment options, including medical cannabis, which have seen increasing acceptance and demand in recent years. The company’s clinics have handled over 60,000 patient visits to date, delivering comprehensive care plans that prioritize safe use, accurate dosing, and behavioral health support, particularly for those requiring opioid treatment.

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North Bay Resources CEO Jarad Lazerson joined Steve Darling from Proactive to discuss the exciting results from recent gravity recovery testing of run-of-mine ore from the Mt. Vernon Gold Mine. The ore was processed using a ball mill, crushed to minus 60 mesh, and then run over a gravity recovery table. This process resulted in two concentrate streams, each yielding approximately ten times the concentration of gold.

Lazerson shared that this milestone was achieved through the combined operations of North Bay’s Bishop Gold Mill and the newly acquired Mount Vernon Gold Mine in Sierra County. The integration of these two projects, each with the capability to process 100 tons per day, has proven to be highly successful, particularly with the unexpected discovery of high platinum content in the concentrate. The rarity of platinum extraction through gravity methods in this region, traditionally known for its high-grade gold production, adds significant value to North Bay's operations.

One of the most remarkable findings was that one of the concentrate circuits produced more platinum than gold, a development that could substantially enhance the profitability of their mining efforts, especially considering platinum's market price of around $1,000 per ounce. Lazerson emphasized the importance of this concentration step, which serves as a green light for further production and monetization activities.

As North Bay Resources continues to advance its operations, the company is preparing to refine the concentrate into doré bars and platinum buttons. The final processing will be handled by a nearby refinery in Reno, marking a key step towards full-scale production and potential revenue generation.

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Tonix Pharmaceuticals CEO Dr Seth Lederman tells Proactive's Stephen Gunnion the first patient has been enrolled in the Phase 2 CATALYST study involving TNX-1300, a novel therapy aimed at reversing the effects of cocaine intoxication. Lederman highlighted that this study, supported by the National Institute on Drug Abuse (NIDA), is a significant step forward in addressing the urgent issue of cocaine-related emergencies, which currently lack effective direct treatments.

Lederman explained that TNX-1300 works by breaking down cocaine in the bloodstream, rendering it inactive and mitigating its dangerous effects. He also discussed the previous Phase 2A study where TNX-1300 showed compelling results in reversing cocaine's impact in a controlled laboratory setting. The Phase 2B study, according to Lederman, could yield results as soon as 2025, with potential pivotal implications for the treatment's future.

Lederman also touched on the broader issue of cocaine intoxication in the US, noting that it often involves mixed drugs, such as cocaine combined with fentanyl, which complicates treatment and increases risks. The interview concluded with Lederman expressing optimism about the study’s progress and its potential to fill a critical gap in emergency care.

Visit Proactive's YouTube channel for more videos, and don't forget to give the video a like, subscribe to the channel, and enable notifications for future content.

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Siguiri Gold chairman Michael Minosora talked with Proactive about the company's progress towards its upcoming IPO on the ASX and ongoing exploration efforts in Guinea.

Minosora highlighted that Siguiri Gold has already completed 10,000 meters of its 70,000-meter drilling program at the Siguiri Gold Project, with plans to resume drilling once the listing is finalised. He expressed confidence in releasing a maiden resource estimate by early next year, which will provide significant insights into the project’s potential.

Minosora detailed Siguiri Gold's strategic advantage, with its ground located adjacent to the well-established AngloGold Ashanti mine in Guinea, known for producing 250,000 to 300,000 ounces of gold annually. He emphasised the simplicity and cost-efficiency of the project’s geology and processing, which align with Siguiri Gold’s focus on low CapEx and operational efficiency.

Discussing Guinea as a mining jurisdiction, Minosora praised its evolution into a recognised metals and mining destination, citing significant investments like Rio Tinto’s Simandou project.

With a positive outlook on both the IPO and ongoing exploration, Minosora assured investors of regular updates, starting with drilling results expected in October.

For more in-depth interviews and updates on Siguiri Gold's progress, visit Proactive's YouTube channel. Don't forget to like this video, subscribe, and enable notifications for future content.

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London's FTSE 100 enjoyed a bright start after losing further ground for the week on Wednesday.

Among early risers was JD Sports, which looked to calm investors’ nerves with a second-quarter report showing 8.3% organic sales growth after a weak start to the year.

Things were less positive at FTSE 250 recruitment firm Hays though, which reported a 12% drop in net fees over the year to June on the back of a slowdown in hiring.

Elsewhere on the FTSE 250, defence firm Serco ticked up early on after unveiling a US$320 million contract with the US Army for work on a Space Force base in Greenland.

And finally, Gatwick Airport said profit had jumped over the first half of the year as it continues to reap the rewards of a rebound in travel demand.

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Chris Burns, CEO of Amplia Therapeutics, shared promising updates with Steve Darling from Proactive regarding the company’s ongoing Phase 2a clinical trial focused on treating advanced pancreatic cancer. Burns announced that a fifth patient enrolled in the trial has achieved a confirmed partial response, indicating a 30% or greater reduction in the overall size of tumor lesions, which has been maintained over a two-month period with no new tumor lesions appearing.

Additionally, Burns reported that six other patients in the trial have shown stable disease at both their two-month and four-month assessment time points. According to RECIST 1.1 criteria, stable disease (SD) is noted when tumor lesions have either reduced in size by less than 30% or have shown minimal to no growth.

The Phase 2a ACCENT trial is exploring the efficacy of Amplia Therapeutics’ lead asset, narmafotinib, in treating advanced pancreatic cancer. The trial plans to enroll a total of 50 patients, with the first cohort consisting of 26 patients. Responses to the therapy are monitored every two months, and the recruitment of the second cohort of 24 patients will commence once a minimum of six patients have recorded a confirmed partial or complete response.

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Theralase Technologies CEO Roger DuMoulin-White joined Steve Darling from Proactive to share news regarding a groundbreaking development in cancer treatment. The company's lead drug formulation, Rutherrin®, has shown preclinical success in being activated by Metformin, a widely used diabetes medication, without the need for light or radiation.

DuMoulin-White explained that both Rutherrin® and Metformin have been scientifically proven to cross critical biological barriers, including the blood-brain barrier and tumor-specific blood barriers. This discovery opens the possibility of precisely targeting cancer cells throughout the body, including within the brain, with Rutherrin®, which can then be synergistically activated by Metformin.

Metformin, an anti-diabetic drug approved by the U.S. Food and Drug Administration (FDA) in 1994 for the treatment of Type 2 diabetes, is the only anti-diabetic medication currently recommended by the American Diabetes Association for the prophylactic treatment of prediabetes. This new application of Metformin in cancer treatment, in combination with Rutherrin®, represents a significant advancement in the potential to target and destroy cancer cells with unprecedented precision. This latest research now supports a whole new line of research looking to specifically, identifying additional drugs, as potential synergistic candidates for activating Rutherrin in the destruction of various cancers.

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