Proactive - Interviews for investors

Monogram Technologies CEO Benjamin Sexson joined Steve Darling from Proactive to announce a strategic collaboration with Shalby Limited, a global multi-specialty hospital chain and one of India's leading orthopaedic hospital groups. This partnership will focus on conducting a multicenter clinical trial aimed at demonstrating the safety and effectiveness of Monogram's mBȏs TKA System for joint replacement.

Sexson explained that under this collaboration, Shalby will enroll patients across various sites in India, where surgeons will evaluate the mBȏs TKA System in conjunction with the Consensus CKS implant. The Consensus CKS implant is considered substantially equivalent to Monogram's mPress implants for regulatory purposes.

Monogram has been actively engaged with the FDA, receiving feedback on their Clinical Investigational Plan during February 2024 Presubmission Communications. The company has incorporated this feedback into its 510(k) application, which has successfully passed the FDA Administrative Review. An interesting aspect of this collaboration is the potential post-trial transfer of a robot to the Shalby hospital system under specific conditions, as both companies explore further opportunities for collaboration.

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Willow Biosciences CEO Dr Chris Savile joined Steve Darling from Proactive to share news about the company’s financial and operational achievements for the quarter ending June 30, 2024. The second quarter was a milestone period for Willow Biosciences, marked by unprecedented revenue growth and the successful expansion of its project pipeline.

The company reported a record revenue of $1 million for Q2 2024, representing a staggering increase of approximately 660% compared to the same quarter in 2023. This impressive growth was significantly bolstered by the newly formed strategic partnership with Laurus Labs, which added seven high-value Active Pharmaceutical Ingredients (APIs) to Willow’s portfolio.

Dr. Savile emphasized that Willow Biosciences remains on track to achieve its revenue targets for the fiscal year 2024. The company anticipates total revenues exceeding $4 million for the year, reflecting an increase of nearly 350% compared to 2023. This optimistic outlook is driven by existing programs as well as the introduction of new initiatives. In addition to the projects already announced in 2024, Willow expects to launch at least one more fully funded, partnered program and one new internal program by the end of the year.

In its efforts to enhance operational efficiency, Willow Biosciences has successfully reduced its cash usage, with total operating expenses amounting to $733,000 for the quarter and a monthly cash burn rate of less than $250,000. This transition to a leaner operational model is aimed at sustaining the company's growth momentum while ensuring financial stability.

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Hive Digital Technologies Executive Chairman Fran Holmes joined Steve Darling from Proactive to discuss the company's results for the first quarter ended June 30, 2024. The company reported $29.6 million in revenue from digital currency mining, which included mining rewards of 449 Bitcoin. Additionally, Hive earned $2.6 million from its high-performance computing hosting operations, resulting in a gross operating margin of $11.4 million, or a 35% operating margin. The company's SG&A expenses for the quarter were $3.4 million, leading to a positive corporate margin on a cash basis of $8.0 million. Hive achieved an Adjusted EBITDA of $14.9 million for the quarter and net income of $4.2 million before tax.

Holmes highlighted that Hive increased its Bitcoin mining ASIC hashrate by 4% during the quarter, growing from 4.7 Exahash in March 2024 to 4.9 Exahash in June 2024. As of June 30, 2024, Hive had 2,496 Bitcoin on its balance sheet, valued at $153.9 million, with all Bitcoin being unencumbered, unleveraged, and mined through the company's green energy-focused operations.

The company's production of 449 Bitcoin this quarter was lower than the 658 Bitcoin produced in the prior quarter ended March 31, 2024, primarily due to the Bitcoin Halving on April 20, 2024. The Halving reduced block rewards from 6.25 Bitcoin to 3.125 Bitcoin, but Hive had prepared for this event by upgrading its ASIC miners, contributing to the positive results for the quarter.

Additionally, Hive has identified 30 MW of capacity in its existing Bitcoin mining facilities, which it plans to convert to Tier 3 infrastructure for GPU operation. This conversion is expected to yield 20 MW of Tier 3 compute, with upgrades potentially being completed within 6-9 months from the start of construction. The necessary power distribution and internet redundancy are already in place.

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Mel Sanderson, Non-Executive Director of American Rare Earths, recently discussed with Steve Darling from Proactive the company’s strategic decision to restructure operations to better advance the Halleck Creek resource. Following an extensive strategic review, the Board of Directors has implemented operational and structural changes aimed at positioning the Halleck Creek Project as a key strategic resource for U.S. markets. These changes are designed to make Halleck Creek more appealing to major U.S. investors, facilitating its development while maximizing value for existing shareholders.

One of the most significant changes is the establishment of Wyoming Rare Inc. (WRI), a wholly owned subsidiary of American Rare Earths, which will take on the development of the Halleck Creek Project. This new entity will have its own dedicated capital structure and funding sources, making it an attractive prospect for U.S.-based investment and partnerships. WRI's focus will be on the development of the Cowboy State Mine, located within a portion of the Halleck Creek Wyoming State Tenements.

Sanderson highlighted the recent energy fund grant awarded by the State of Wyoming, which, combined with the pathway to permitting, positions WRI to accelerate the development of one of the largest rare earth deposits in North America. The project has considerable upside potential, with less than 75% of the mineralized zones yet to be drilled and the deposit remaining open at depth.

As detailed in the Scoping Study released on March 18, 2024, the Halleck Creek Project demonstrates strong commercial viability, with a Net Present Value (NPV) of USD 673.9 million, an Internal Rate of Return (IRR) of 22.5%, and a payback period of 2.9 years. The total initial capital expenditure for the project is estimated at USD 456.1 million.

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Stardust Power CEO Roshan Pujari joined Steve Darling from Proactive to announce a significant development for the company. Stardust Power has selected Primero, a leading multidisciplinary engineering firm, to carry out a front-end loaded level 3 (“FEL-3”) engineering design and cost study for its strategically located lithium refinery in Muskogee, Oklahoma. This study, also referred to as a definitive engineering study, is a critical step in the company’s journey to becoming a key player in the lithium market.

Primero is renowned for its expertise in the design, construction, and operation of lithium projects, with a global presence across North America, Western Australia, and beyond. The firm has successfully delivered projects in over ten countries across five continents and boasts a strong track record, including recent engineering achievements for lithium refineries in Texas and North Carolina.

Pujari highlighted that the FEL-3 engineering study will provide comprehensive technical specifications and detailed cost projections for the Muskogee refinery, which is expected to produce high-quality, battery-grade lithium products. This study represents the culmination of significant technical work that Stardust Power has already undertaken, and it will deliver a complete process design, including the development of a 3D engineering model. This model will enable engineers and contractors to estimate the total cost for the refinery's construction and the associated machinery.

The insights gained from the FEL-3 study will be instrumental for Stardust Power as it seeks to establish a clear cost basis for the project and explore applicable financing options. Once the study is completed and the necessary financing is secured, Stardust Power plans to immediately move forward with detailed engineering and long-lead procurement, setting the stage for the commencement of major construction on the refinery.

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Light Science Technologies Holdings PLC (AIM:LST) CEO Simon Deacon joined Proactive's Stephen Gunnion with details of a £123,000 order for its nurturGROW lighting from the Richel Group, a prominent European glasshouse producer specialising in agronomic solutions.

Deacon described the contract as mid-sized within its current pipeline of around £40 million, showcasing its ability to handle various order sizes. He highlighted the partnership with Richel, which is instrumental in broadening its reach in the controlled environment agriculture (CEA) market.

Deacon also discussed the company's preparedness to service larger contracts, thanks to its suite of products like nurturGROW and sensorGROW, developed to optimise crop yields and reduce costs. Additionally, the impact of the Tomtech acquisition is emphasised, which has strengthened the CEA division and contributed to a revenue increase.

Deacon said he believes that distribution agreements, such as those established with Richel and in South Africa, will be key revenue drivers moving forward, enhancing their global market penetration.

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Oriole Resources PLC (AIM:ORR) CEO Martin Rosser takes Proactive's Stephen Gunnion through the latest exploration results from the MB01 prospect at the Mbe project in Cameroon.

Rosser detailed how BCM International is earning up to a 50% interest in the Mbe property by investing up to $4 million in exploration. Oriole Resources remains the operator, continuing its work on the MB01 area, where recent soil sampling results have shown exceptionally high grades, including one as high as 8.17g per tonne.

Rosser noted that the second infill soil sampling program revealed anomalies in three new areas adjacent to MB01, named MB02, MB03, and MB04. These areas are seen as potentially exciting targets for follow-up work and could serve as satellite deposits to the main MB01 area.

Additionally, Rosser discussed the trenching activities at MB01 North and South, which involved nearly seven kilometres of trenching. The results of this trenching program are expected to be released in the current quarter and will contribute to the design of a maiden drilling program anticipated for the 2024-25 field season.

Beyond the Mbe project, Oriole Resources is also progressing with other projects, including Bibemi and the Senala project in Senegal, with further updates expected soon.

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CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF) executive chairman Dr Steve Kesler discusses the company's upcoming application to list its shares on the Australia Securities Exchange (ASX) and its plans to raise up to A$20 million with Proactive's Stephen Gunnion.

Kesler emphasised that the ASX listing aligns with the company's substantial Australian shareholder base, including support from its largest shareholder, Regal Funds. He also highlighted Australia's robust mining sector and the opportunity to attract new investors focused on sustainable natural resource projects.

Kesler discussed CleanTech Lithium's unique position in the lithium market. Unlike the majority of Australian lithium projects, which involve hard rock mining and concentrate shipments to China, CleanTech Lithium offers a brine project with a low carbon footprint. He pointed out that the company's operations will leverage renewable energy and low water consumption, delivering what he termed "green lithium" to markets keen on sustainability, especially in the context of geopolitical shifts away from China.

The funds raised will be directed towards advancing the Laguna Verde project, including more drilling, completing the pre-feasibility study, and preparing for construction and operations. Kesler is optimistic about the future, noting strong community support and potential strategic partnerships that will drive the project forward.

For more updates on CleanTech Lithium and its journey towards sustainable lithium production, visit Proactive's YouTube channel, and don't forget to give the video a like, subscribe to the channel, and enable notifications for future content.

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London's blue-chip index lifted again on Tuesday after fresh data highlighted a decline in unemployment in the UK.

Unemployment took an unexpected plunge over the three months to June, while economic inactivity climbed to a 13-year high, official figures showed on Tuesday.

Chancellor Rachel Reeves commented that there was “more to do” in supporting people into work, with many out due to long-term sickness, adding it will be tackled in the budget later this year.

Meanwhile, an uptick in wage growth has fuelled questions over whether the Bank of England should further cut rates this year.

Figures from the ONS showed wages climbed by 5.4% between April and June, compared to 5.7% in the previous three months.

Additionally, grocery prices climbed at a faster rate over the month to August 4 for the first time since March last year, according to Kantar data. This comes ahead of the UK’s key inflation reading this week, with analysts already predicting an acceleration in the consumer price index.

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Team Internet Group PLC (AIM:TIG, OTCQX:TIGXF) CEO Michael Riedl takes Proactive Stephen Gunnion through the company’s first-half results. Riedl highlighted the continuation of growth in gross revenue, alongside an even faster increase in net revenue, leading to adjusted EBITDA reaching $46.6 million. Additionally, he emphasised the 13% rise in operating profit compared to the first half of 2023 and a 14% increase in adjusted EPS, resulting from a share buyback initiative.

Riedl also discussed the factors contributing to this growth, particularly the strong performance of their German product comparison business and the retail domain business. He noted that the average price per domain name has risen to $11.90, driven by a favourable product mix and the strength of the retail segment. Furthermore, Riedl touched on the expected normalisation of cash conversion to around 100% for the full year, which was slightly impacted in the first half due to technicalities with payment timings.

Finally, Riedl shared insights on the successful integration of Shinez, TONIC, and VGL into a synergistic platform, highlighting the reciprocal synergies these businesses are creating across different stages of the conversion funnel.

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