Proactive - Interviews for investors

Elixir Energy Ltd (ASX:EXR, OTC:ELXPF) managing director Neil Young joins Proactive’s Jonathan Jackson to discuss the next phase of the Daydream-2 program slated to begin in around two weeks, utilising a new coil tubing unit (CTU) for flow testing at the 100%-owned Grandis Project in Queensland’s Taroom Trough. The prime contractor, Condor Energy, has imported this CTU from New Zealand to handle the high pressure and depths of the Taroom Trough.

The CTU will first be used at Daydream-2 to mill out the plug above the Lorelle Sandstone, which previously flowed gas at a stabilised rate of 1.3 million standard cubic feet per day (MMscfd).

Young, expressed satisfaction with the program's progress and highlighted the significant investments in the Taroom Trough's potential.

Elixir is collaborating with Condor and a neighbouring operator to ensure optimal use of the CTU and other key resources, anticipating some adjustments due to geological and operational factors. The next stage involves perforating and stimulating three sandstone and two coal zones in the Permian section, followed by a cleanup and flow testing period of a few weeks.

The initial test will independently flow test the uppermost coal section to prove up contingent resources. Subsequently, all six zones will be tested together with a target flow rate of 2.5 MMscfd. This represents just 19% of the total gas-bearing zones, suggesting potential for higher future flow rates.

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Legend Mining Ltd (ASX:LEG) executive chair Mark Wilson sits down with Proactive’s Jonathan Jackson to discuss a new field season at the Octagonal prospect within the Rockford Project, Fraser Range, Western Australia as well as the current nickel market.

This season includes extending the maiden High-Power Fixed Loop Electro-Magnetics (HPFLTEM) survey, initially completed in December 2023 but delayed due to weather-related access issues. The new survey targets a strong conductive zone on the eastern flank of Octagonal and is expected to take 20 days.

Wilson highlighted that unprecedented rainfall in March 2024, followed by additional rain events, had hindered vehicle access to the Rockford project, delaying fieldwork. The Trans Australian Railway access road reopened on July 16, 2024, allowing the survey to proceed.

Highpower EM Geophysical Services Pty Ltd has mobilised to the Octagonal site to begin the survey extension. Initial data identified a strong conductive source east of the previous survey area, interpreted as an extension of the Octagonal intrusion. This area is significant due to intersections of nickel-copper sulphide in previous drill holes OCT0189 and OCDD004, which are similar to the Nova-Bollinger mineralisation setting.

The extension survey is expected to be completed in 20 days, with data modelling results anticipated by the end of August 2024. Future work includes HPFLTEM survey data modelling, seismic reprocessing, diamond drill hole target generation, and heritage clearance for drilling at Octagonal.

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Botala Energy Ltd (ASX:BTE) has been awarded a tender by the Botswana Power Corporation (BPC) to develop a 4MW solar power plant in Serowe, Botswana. The project is part of Botala's proposed Serowe Energy Hub. Botala leads the Serowe Solar Consortium, which includes Ngwato Development Trust, Base Agencies and OCEF Engineering Botswana. The project operates under a 25-year, CPI-linked Power Purchase Agreement (PPA).

Botala will construct and operate the facility, holding a 49% stake. The project underscores Botala's commitment to community welfare, allocating 1% of its revenue to local social and community programs. The 4MW solar pilot project is a significant step in Botala’s diversified energy portfolio, complementing its proposed 20MW gas/solar hybrid in the same hub.

Botala's future focus includes developing hybrid power stations within the Serowe and Leupane Energy Hubs. Projects include the 5-well gas pilot cluster and the expansion of the 4MW solar plant to a 10MW solar and 10MW gas hybrid. The Leupane Energy Hub aims to develop a 500MW solar/200MW gas hybrid and industrial park, with a feasibility study for the initial 250MW solar plant funded by AAAS Energy BV.

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Magnetite Mines Ltd (ASX:MGT) CEO Tim Dobson joins Proactive’s Jonathan Jackson to discuss a non-binding Memorandum of Understanding (MoU) with ZEN Energy, an Australian renewable energy company.

The MoU aims to develop a Green Iron industry in South Australia using premium-grade magnetite concentrates and renewable energy. The agreement outlines potential collaborations, including energy offtake agreements, infrastructure sharing or leasing and partnering arrangements for MGT’s Razorback Project. The companies also aim to participate in future Green Iron projects.

Dobson emphasised the shared vision for a Green Iron industry, leveraging Razorback’s magnetite concentrates and ZEN’s renewable energy. This collaboration aims to position South Australia as a leader in exporting Green Iron, contributing to economic growth and a low-carbon future.

In the announcement, Anthony Garnaut, CEO of ZEN Energy, highlighted the significance of the collaboration, noting that it represents a major new load to connect to the grid. The partnership aims to establish new value chains for Green Iron production, particularly around Port Pirie, supporting Australia’s vision of becoming a renewable energy superpower.

The MoU outlines collaboration on project development, funding, farm-in and farm-out options, co-venturing opportunities, knowledge sharing and partnering with governments. It also includes potential green iron project developments, such as pellet plants, DRI/HBI plants, hydrogen plants and logistics infrastructure. The MoU expires in July 2025 if no binding transaction is reached.

South Australia’s abundant renewable energy resources and plans for green hydrogen and iron position it well for sustainable steelmaking, potentially establishing the first green iron production facility by 2030.

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QMines Ltd (ASX:QML) executive chairman Andrew Sparke joins Jonathan Jackson in the Proactive studio to discuss the identification of high-grade gold rock chip samples from historical data at the Mt Chalmers project.

The bonanza samples were found in the Cawarral and Mt Wheeler Goldfields, approximately 6 kilometres northeast of the historic Mt Chalmers copper and gold mine.

Notable rock chip sample grades include 256 g/t, 157 g/t, 89.4 g/t, 80.95 g/t, and 156 g/t gold. Historical production figures from small-scale mines in the area include 2,973 ounces at 62 g/t gold from Galawa Mine, 9,098 ounces at 37 g/t from Annie Mine and 3,900 ounces at 42 g/t from Last Chance Mine.

Recent analysis and digitisation of historical data by QMines have revealed these high-grade samples. Additionally, RC drill hole MWC07 intersected 3 metres at 154 g/t gold from the surface at Cawarral. The goldfields are part of a 15-kilometre north-northeast striking corridor and contain several small-scale historical mines developed on bedrock quartz reefs. These reefs, containing pyrite, sphalerite and galena in quartz-carbonate veins, are considered highly prospective.

QMines plans to start first-pass drilling following the completion of the Develin Creek and Artillery Road drilling programs.

#ProactiveInvestors #QMines #ASX #GoldExploration #MtChalmers #CawarralGoldfields #HighGradeGold #GoldMining #RockChipSamples #QueenslandGold #GoldProduction #HistoricGoldMines #GoldInvesting #ASXGold #DrillingPrograms #MineralExploration #MiningNews #GoldReefs #GeologicalSurvey #ResourceDevelopment #MiningProjects #ExplorationResults

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Endurance Gold CEO Robert Boyd joined Steve Darling from Proactive to announce the commencement of a significant drilling program at the Reliance Gold Property in southern British Columbia. Exploration crews have been active on the site since May, conducting target generation field work, environmental baseline studies, and community consultations. The road-accessible property is strategically located 4 kilometers east of the village of Gold Bridge and 10 kilometers north of the historic Bralorne-Pioneer Gold Mining Camp, which has produced over 4 million ounces of gold.

Boyd shared that the planned 2024 program involves up to 10,000 meters of diamond drilling, aiming to expand the gold zones discovered within the Royal Shear, both at depth and along strike. Over the past three years, the company has completed 82 diamond drill holes, revealing drill intersections exceeding 10 grams per meter of gold. The current drilling initiative has begun at the Imperial Zone, with a focus on extending high-grade mineralization along strike and to depth, utilizing four to six drill holes. This ambitious drilling program is expected to span approximately five months.

Boyd emphasized the strategic importance of this drilling campaign in expanding the known gold zones and unlocking the full potential of the Reliance Gold Property. With a comprehensive plan in place and a dedicated team on the ground, Endurance Gold is poised to advance its exploration efforts and achieve significant milestones in the coming months.

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After successfully completing Phase II clinical trials for their medication to treat Major Depressive Disorder, ABVC BioPharma Inc. and AiBtl BioPharma Inc. are now embarking on a groundbreaking clinical study focused on Depression in Cancer Patients. This new study will integrate AI-driven solutions to address the significant challenge of depression among cancer patients, a condition that often complicates treatment and adversely affects overall quality of life.

Dr. Uttam Patil shared with Steve Darling from Proactive that the study aims to gain a deeper understanding of the prevalence and impact of depression in cancer patients. It will explore innovative therapeutic approaches by integrating real-time patient monitoring and enhanced patient analysis through an AI model. This advanced methodology is expected to increase the lead time for clinical trials, utilizing novel and sophisticated treatment protocols.

The clinical study will be conducted at the renowned Cedars-Sinai Medical Center, involving cancer patients who experience depressive symptoms. By leveraging advanced AI technologies and employing cutting-edge diagnostic and therapeutic techniques, the study aims to monitor and treat depression in participants under meticulous medical supervision.

Dr. Patil emphasized that the integration of AI-driven solutions in this clinical study represents a significant leap forward in the treatment of depression in cancer patients. The use of real-time patient monitoring and AI-based analysis is anticipated to provide valuable insights and improve patient outcomes, setting a new standard for clinical trials in this area.

The collaboration between ABVC BioPharma and AiBtl BioPharma highlights their commitment to advancing healthcare through innovative solutions. This study is poised to make a substantial impact on the management of depression in cancer patients, offering hope for improved quality of life and better treatment outcomes.

Through this pioneering study, ABVC BioPharma and AiBtl BioPharma are at the forefront of integrating technology with healthcare, paving the way for future advancements in the field. The companies are dedicated to utilizing AI to enhance patient care and accelerate the development of effective treatments for depression in cancer patients.

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The FTSE 100 started on the back foot on a cautious reading of the latest inflation numbers. London’s blue-chip index was down 11 at 8,153 in early trades.

UK inflation remained in line with the Bank of England's 2% year-on-year target last month. The consumer price index rose 0.1% over the month of June, as expected, which meant the annual rise in CPI remained at 2.0% for the second month running.

Economists suggested that might postpone an interest rate cut until September.

HSBC has gone in-house for its new chief executive with finance chief Georges El-hed-ery appointed to the role of group chief executive. Shares in the Asia-focused bank barely moved on the announcement.

Shipbuilder Babcock has cut its profit guidance after taking a £90 million loss on the deterioration of the Type 31 warship contract.

The defence contractor said it now expects to report an underlying operating profit of roughly £238 million or up 34% on the prior year.

All eyes later will be on Keir Starmer’s plans as his first King’s speech is read out with housing, labour laws, railways and his predecessor’s smoking ban set to feature.

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Torque Metals Ltd (ASX:TOR) managing director Cristian Moreno joins Proactive’s Jonathan Jackson to discuss the restart of drilling at the company’s Paris Gold Project in Western Australia, driven by high gold prices and a positive outlook for the metal.

The drilling aims to infill and extend existing gold lodes and contribute to a maiden mineral resource estimate (MRE). The program includes 1,000 metres of diamond drilling and 8,000 metres of reverse circulation (RC) drilling, targeting the Paris West and Eva prospects.

Completion of the drilling is expected by late August, with assay results reported progressively from mid-August. This effort is part of Torque's strategy to increase shallow, high-grade gold ounces for its upcoming MRE.

Moreno highlighted the robust potential of the Paris Project, noting its location on the Boulder-Lefroy fault, which hosts significant deposits like St Ives Gold Mine and Northern Star’s Super Pit. The project spans 2.5 kilometres by 1 kilometre and remains open in all directions. Notable gold intercepts include 35 metres at 14.12 g/t gold, 41 metres at 5.93 g/t and 16 metres at 4.19 g/t, with recoveries exceeding 96%.

Drilling at Paris West has intersected 35 metres at 14.12 g/t gold and the Eva prospect has shown 16 metres at 4.19 g/t gold. Previous results include significant high-grade intersections, supporting the project’s potential.

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Polymetals Resources Ltd (ASX:POL) new Endeavor Mine general manager Matt Gill speaks with Proactive’s Jonathan Jackson about the restart and operations of the silver, zinc and lead mine near Cobar, New South Wales. Gill, a director of Polymetals since May 2023, has been involved in the mine’s restart studies and planning and will immediately start his role, focusing on pre-works, recruitment and redevelopment activities.

Gill, a mining engineer with more than 40 years of experience, will relocate to Cobar to manage operations and represent Polymetals locally. His extensive background includes roles as an underground miner, mine planning engineer, supervisor, general manager and CEO/MD in various countries, including Australia, Papua New Guinea, India, Ghana, and Bolivia.

In today’s announcement Polymetals executive chairman Dave Sproule expressed confidence in Gill’s appointment, highlighting his respect within the management team and his qualifications for the project. Gill holds four First Class Metalliferous Mine Manager’s Certificates and has been pivotal in developing mines such as Porgera, Beaconsfield, Ballarat and Morning Star. His previous roles include CEO and MD of White Rock Minerals, COO of LionGold Corp and positions at Castlemaine Goldfields, Rio Tinto, WMC, Placer Pacific and Renison Goldfields.

Gill, a three-time Australian Mine Manager of the Year Award winner and recipient of the AusIMM Leadership Award, will resign as a director of Polymetals to ensure site management independence.

#ProactiveInvestors #PolymetalsResources #ASX #MattGill #MineRestart #MiningIndustry #CobarNSW #EndeavorMine #SilverMining #ZincMining #LeadMining #MiningEngineering #MineDevelopment #MiningOperations #MineralResources #AustralianMining #MiningNews #ExecutiveAppointment #IndustryLeadership #MineManagement #MiningCommunity #ResourceSector

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