Proactive - Interviews for investors

Acarix CEO Aamir Mahmood joined Steve Darling from Proactive to share news the company has begun trading on the OTCQB Market in the United States, under the ticker symbol ACIXF. This listing complements its existing presence on the Nasdaq First North Growth Market in Stockholm. Mahmood expressed that with the US being Acarix's most important commercial market, this development allows for a broader investor base to participate in the company’s growth journey.

Acarix specializes in medical devices aimed at rapid assessment of coronary artery disease (CAD) at the point of care. The company's flagship product, the CADScor System, is CE-approved and FDA DeNovo-cleared, offering a non-invasive solution to help healthcare providers rule out CAD in patients experiencing chest pain, potentially reducing the need for costly and invasive diagnostic procedures.

The company recently announced a significant reorder of single-use patches for the CADScor System by a primary care clinic in the New Orleans, Louisiana metropolitan area. These patches are integral to the system's operation in evaluating patients suspected of having coronary artery disease. Additionally, Acarix has received a multi-order for the CADScor System from Saving Grace Concierge, which will use it as a diagnostic aid for symptomatic patients in the Oklahoma City and Tulsa metro areas. Looking ahead, Mahmood outlined the company's focus on top-line growth, reimbursement efforts with CMS and private payers, and initiating clinical trials. He emphasized the device's potential to save significant healthcare costs and drive commercial success in the US market.

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London’s FTSE 100 opened lower on Tuesday as investors mulled a mixed bag of company results from the index’s constituents.

In the first 40 minutes of trading, the blue-chip index fell two-thirds of a percent to 8,236.

Oil giant BP saw its shares lift higher after it posted second-quarter results showing larger profits than forecast and a bumper combination of dividends and share buybacks. Based on current oil and gas prices, BP said it plans share buybacks of "at least $14 billion through 2025".

Headed the other way was drinks giant Diageo after it confirmed a drop in annual sales and profits.

Group sales declined due to a drop in volumes, mostly driven by a plunge in Latin America and the Caribbean, while North American sales were also down.

Another group attempting to lift the index higher was Standard Chartered, with the lender having posted a profit beat in the second quarter and a hike to its shareholder returns. The lender announced its biggest-ever share buyback of $1.5 billion, which was 50% larger than analysts expected, and also proposed a 50% hike to its interim dividend.

And Sage Group traded lower following a deceleration in organic revenue growth compared to 2023 and a warning about the wider industry backdrop.

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Iondrive Ltd (ASX: ION) CEO Ebbe Dommisse joins Jonathan Jackson in the Proactive studio to discuss the successful completion of large-scale bench trials at the University of Adelaide, marking a significant milestone for its deep-eutectic solvent (DES) battery recycling technology. These trials confirmed the robustness and economic potential of the technology, with positive results indicating high metal recoveries and minimal solvent losses.

The trials involved scaling up from 120mg to 120g of black mass, a powdered mixture containing critical minerals like lithium, cobalt, nickel and manganese. Iondrive's DES process uses benign, biodegradable organic solvents in a non-toxic, closed-loop system, avoiding the environmental issues of traditional methods like pyrometallurgical and hydrometallurgical processes.

Independent Metallurgical Operations (IMO) in Perth verified the high recovery rates and minimal solvent losses, crucial for the process's economic viability. Dommisse highlighted the significance of these results, emphasising the process's scalability and efficiency.

Trial results provide a foundation for ongoing optimisation, feeding into engineering and economic studies as part of a pre-feasibility study (PFS). The PFS aims to de-risk the technical and commercial aspects of the process, with completion expected by October 2024. Successful PFS completion will pave the way for industry collaboration and pilot plant progression in FY2025.

Ongoing optimisation trials at the University of Adelaide focus on refining the DES process, enhancing its efficiency and confirming minimal solvent losses. These trials will support upcoming engineering studies, including conceptual design and cost analysis, economic benchmarking, and value engineering to improve solvent recovery efficiency.

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Doubleview Gold Corp CEO Farshad Shirvani joined Steve Darling from Proactive to share news the company has esumed its drilling program at the Hat Project in Northern British Columbia. The company had previously paused operations due to a shortage of workers. The current drilling efforts are based on a robust database of technical and statistical models, which were integral to the preparation of the company's first Mineral Resource Estimate (MRE) announced last week.

Shirvani shared that the new program aims to improve grade and further explore mineralization trends identified through statistical and geological models and interpretations. This includes conducting in-fill drilling in areas where existing drill holes are sparse or overly widespread to better define the mineral deposit's envelope. Additionally, the company is targeting areas of shallower mineralization to enhance both grade and tonnage, preparing for a future "Version 2" MRE. These efforts are also intended to strengthen the company's comprehensive database, guiding future exploration and resource estimates.

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Learning Technologies Group PLC chief executive Jonathan Satchell takes Proactive's Stephen Gunnion through the company's trading update for the first half of the year. Despite facing revenue pressures and currency headwinds, Satchell highlighted the robust performance of the learning infrastructure business.

Satchell discussed the impact of currency fluctuations, particularly the pound-dollar exchange rate, on the company's financials. Despite these challenges, LTG achieved an increase in adjusted EBIT due to improved margins following their acquisition of GP Strategies. Satchell emphasised the ongoing, though slower, margin improvements and expressed optimism about the company's future performance.

He also provided guidance for full-year revenue and EBIT, excluding the recently completed sale of VectorVMS. Satchell stressed that the sale was a strategic move to strengthen the company's balance sheet, reducing net debt significantly.

Additionally, Satchell addressed concerns raised by US regulators, assuring investors that the company is working diligently to resolve the issues. He expressed confidence in their remediation efforts and ongoing cooperation with the regulator.

Satchell concluded by highlighting LTG's strong cash generation and a significant reduction in net debt, attributing this success to strategic disposals and consistent cash conversion from EBITDA.

For more insights and updates from Learning Technologies Group, visit Proactive's YouTube channel. Don't forget to give this video a like, subscribe to the channel, and enable notifications for future content.

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Ananda Developments CEO Melissa Sturgess discussed the company's recent advancements in CBD-based drug development with Proactive's Stephen Gunnion.

Sturgess highlighted the progress of its clinical trials and the increasing understanding of CBD's potential in the pharmaceutical industry. She also discussed the growing distinction between over-the-counter CBD products and those being developed by Ananda, emphasising the regulatory pathway necessary for CBD medicines.

Sturgess highlighted two phase two clinical trials, focusing on chemotherapy-induced pain and endometriosis, initiated by clinicians responding to patient needs. She explained the challenges and benefits of getting CBD drugs approved by the MHRA and available on the NHS, aiming to make these drugs accessible to all patients.

Discussing the company's portfolio, Sturgess shared insights on their pre-clinical study using MRX1 in mice and the importance of breadth and depth in the company's research. She also talked about strengthening the company's top structure with the appointment of a scientific advisory board, chaired by Professor Clive Page, and new members, Professors Trevor Jones and Cherry Wainwright.

Sturgess concluded by outlining the milestones shareholders should look for, including clinical trial progress and further study results.

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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London’s FTSE 100 has opened higher this morning, continuing strong momentum from the end of last week and preparing for the chancellor’s speech later today.

Leaks to newspapers and other major media suggested the new Chancellor of the Exchequer will say a Treasury audit has found the last government went £20 billion "over budget", requiring spending cuts and higher taxes.

Cuts to spending will include the cancellation of some road and rail projects, while higher taxes are expected on capital gains or inheritance taxes, with other tax reliefs cut.

In company news, Pearson shares tumbled after it reported an underwhelming sales performance in the first half, with top-line revenues falling 6.6% to £1.75 billion.

However, adjusted operating profit remained unchanged at £250 million and adjusted earnings per share were steady at 25.6p.

Gambling operator Entain also traded lower after it said its US sportsbook BetMGM would continue to be lossmaking the second half due to the “expectation of greater than planned marketing investment in iGaming”.

It comes despite the joint venture with MGM Resorts bringing in $1 billion worth of revenues in the first half of 2024, a 6% year-over-year increase.

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Aruma Resources Ltd (ASX: AAJ) managing director Glenn Grayson sits down with Proactive’s Jonathan Jackson to discuss high-grade copper assays from the Fiery Creek Copper Project in the Mt Isa copper belt, northwest Queensland. Surface rock chip sampling by previous explorers, including Sumitomo and Anglo American, revealed significant copper grades with highlights such as 36% copper (Sumitomo), 25.4%, 15.2% and 11.2% copper (Anglo American).

The Fiery Creek Project encompasses prospects like Fiery Creek, Twilight, Hellfire and Piper and is underexplored but in a geologically favourable area analogous to known copper deposit regions within the Mount Isa Inlier.

The project has seen limited historical drilling with anomalous copper results and extensive hematite alteration indicative of a fertile copper system. Anglo American, MIM Holdings (now Glencore), BHP, Rio Tinto and Sumitomo previously held adjacent tenures. Aruma plans to explore for stratiform copper deposits and assess the potential for IOCG (iron oxide copper-gold) mineralisation.

Grayson discussed the project's potential, citing the promising historical results and favourable geological context. Following shareholder approval for the acquisition of the Fiery Creek Project on August 1, 2024, Aruma intends to execute a systematic exploration strategy, beginning with mapping and surface sampling, followed by detailed gravity and magnetic surveys.

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Evion Group NL (ASX:EVG, OTC:EVIGF) managing director David Round sits down with Jonathan Jackson in the Proactive studio to discuss a joint venture (JV) and supply agreement for high-quality large flake graphite with India-based Panthera Graphite Technologies (PGT). This material will be used in the JV’s expandable graphite processing plant. The medium-term agreement ensures a stable supply of graphite feedstock as the partners prepare to scale up production to meet growing demand.

The JV partners are also exploring options to enhance the plant's production capabilities, potentially doubling sales volume and revenue amid a potential graphite supply shortage.

Round expressed satisfaction with securing commercial terms that ensure a reliable supply of high-quality graphite concentrate. He highlighted the importance of this agreement, especially in light of the current ban on China-produced graphite, which has led to increased global pricing and supply shortages.

The JV has provided graphite samples to multinational buyers in Japan and the US and is finalising sales pricing agreements for the short and medium term. With China's historical dominance in graphite production disrupted, demand and prices for graphite are rising. UBS forecasts a six-fold increase in natural graphite demand over the next decade, predicting a deficit by 2025. Nicoya Research founder Jason Hamlin also anticipates a significant price rebound and long-term demand increase for natural graphite and active anode material.

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Horizon Minerals Ltd (ASX: HRZ) managing director and CEO Grant Haywood joins Jonathan Jackson in the Proactive studio to discuss the final investment decision (FID) for the Boorara Gold Project in Western Australia, marking the start of the project’s development and Horizon’s transition to a permanent gold producer. Contracts have been awarded to Hampton Transport Services Pty Ltd for mining and ore haulage, with payments deferred until the first gold sale.

Horizon will oversee the managerial and technical aspects of the project, having already staffed most key technical and management positions, including the site senior executive and quarry manager. Pre-production activities will begin in the first half of August, with mining operations ramping up in the following weeks.

Haywood highlighted the significance of the Boorara project, stating that it positions Horizon as the newest gold producer in Australia. Horizon is focused on creating a safe, efficient mining operation to generate cash flow and establish sustainable gold production. The project is fully permitted, with all approvals in place.

The project is also financially viable. Horizon has secured a binding ore sale agreement with Paddington Gold Pty Ltd, a subsidiary of Norton Gold Fields Ltd. Boorara has an independent ore reserve estimate of 1.24 million tonnes at 1.24 g/t gold, yielding 45,800 ounces of gold at a 92.5% recovery rate. At a gold price of A$3,600 per ounce, Horizon anticipates A$30 million in cash flow. Mining is expected to last 14 months, with ore processing taking an additional 19 months, targeting the first gold pour in October.

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