Incanthera PLC chairman Tim McCarthy discussed latest developments at the company with Proactive's Stephen Gunnion, including the appointment of John Howes as its second non-executive director.

McCarthy elaborated on a recent commercial update and fundraising effort driven by significant interest from institutional investors. The company decided to raise additional funds to increase its product launch scale, specifically doubling the initial order of its luxury skin-care brand, Skin + CELL to 100,000 units. This decision was influenced by high demand from small-cap fund managers and strategic partners Marionnaud and AS Watson.

The funds raised are allocated entirely to inventory production, aligning with the strategy to launch the product in September, aiming to capitalise on pre-Christmas trading. Additionally, Incanthera is accelerating its entry into the Hong Kong market, potentially ahead of the originally planned first quarter of 2025. This move is supported by the increased financial resources, which are expected to enhance production capabilities and revenue generation.

McCarthy highlighted the positive reception at the Leading Lights webinar, a showcase for the Aquis Company of the Year, showcasing its rapid growth. The company has also qualified for promotion to the 'Apex' segment of the Aquis Exchange, recognising its market capitalisation growth and adherence to corporate governance standards.

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Maximus Resources Ltd (ASX:MXR) managing director Tim Wither joins Proactive’s Jonathan Jackson to discuss the results from soil sampling across Lefroy Lithium Project in Western Australia’s Eastern Goldfields lithium-caesium-tantalum (LCT) province, discovering coarse spodumene-bearing pegmatites at the new Bird Rock Prospect.

Soil geochemistry assays from field inspections of an elevated lithium-in-soil anomaly have identified several pegmatites under shallow cover, with coarse spodumene crystals up to 20 centimetres long. Assays from Bird Rock include significant lithium oxide percentages of 3.54%, 2.19%, 1.54% and 1.40%.

Additionally, a lithium-in-soil anomaly of approximately 1.5 kilometres in length was identified at the project’s Twin Fin Prospect. High-resolution drone imagery and LIDAR surveys have been instrumental in identifying high-priority targets for further field reconnaissance and sampling.

Wither expressed enthusiasm about the discoveries, noting that the project-wide soil sampling has identified significant spodumene mineralisation at Bird Rock, an area not previously known to host LCT pegmatites. This discovery demonstrates the effectiveness of soil geochemistry in identifying spodumene-bearing pegmatites under shallow cover within the company's tenement holdings and the broader Eastern Goldfields region.

The results from the soil sampling program expand the number of priority lithium targets at Lefroy requiring further exploration. The presence of spodumene-bearing pegmatites at the advanced Kandui Prospect and Bird Rock suggests potential for multiple large-scale lithium discoveries within Maximus' tenements.

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Race Oncology Ltd (ASX: RAC) CEO Daniel Tillett sits down with Proactive's Jonathan Jackson after the US Food and Drug Administration (FDA) extended Orphan Drug Designation (ODD) to its proprietary formulation of bisantrene, RC220.

Initially, the ODD was granted to Update Pharma Inc. in 2014 for the RC110 formulation of bisantrene for the treatment of acute myeloid leukemia (AML). The designation was transferred to Race in 2017 and has been maintained through annual reporting of clinical and non-clinical activities to the FDA.

The ODD program, established under the Orphan Drug Act of 1983, aims to promote the development of treatments for rare diseases affecting fewer than 200,000 people in the USA. Benefits include seven-year US marketing exclusivity, a 25% federal tax credit for clinical research expenses, waiver of Prescription Drug User Fee Act (PDUFA) fees (valued at US$4 million in 2024) and eligibility for research grants and additional regulatory guidance from the FDA.

Tillett, expressed gratitude for the clinical team's efforts in securing the ODD extension for RC220 bisantrene. Chief medical officer Dr Michelle Rashford notes that the designation enables closer collaboration with the FDA on all RC220 bisantrene clinical programs as Race progresses towards opening an FDA Investigational New Drug (IND) application in 2025.

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Element 25 Ltd (ASX:E25 OTCMKTS: ELMTF) managing director Justin Brown joins Proactive’s Jonathan Jackson to provide an update on its Butcherbird Manganese Project in Western Australia where it aims to capitalise on the recent increase in manganese ore prices with a potential restart. This would includee selling existing stockpiles and processing run-of-mine (ROM) stockpiles.

Manganese ore prices have recently surged to a four-year high of US$8.30/dmtu for 44% CIF Tianjin, China. In response, E25 is assessing the feasibility of processing both ROM and low-grade stockpiles at Butcherbird. The current high manganese prices present a significant opportunity for immediate cash flow if production is determined to be viable.

The rise in prices follows supply disruptions at South 32’s Groote Eylandt operations, caused by damage from Tropical Cyclone Megan. This has led to a forecast manganese supply disruption of up to 12 months, with a production restart targeted for Q3 2025. Additionally, political instability in South Africa has intensified competition for the available supply, contributing to the rapid price increase.

E25's board is evaluating the cost structure for a potential restart, aiming to monetise existing stockpiles without affecting the expansion plans for Butcherbird. The expansion project aims to produce high-purity manganese sulphate monohydrate (HPMSM) in Louisiana, USA, in partnership with General Motors and Stellantis.

Brown highlighted the opportunity to generate short-term cash flow and the steps required for operational readiness. Discussions with OM Holdings Limited regarding recommencing ore sales are also underway.

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Lunnon Metals Ltd (ASX:LM8, OTC:LNMLF) managing director Edmund Ainscough joins Proactive’s Jonathan Jackson to discuss an 11% increase in tonnage and a 9% increase in nickel metal at the Baker Nickel Deposit, part of its Kambalda Nickel Project in the Eastern Goldfields of Western Australia.

The updated mineral resource estimate (MRE) is now 1 million tonnes at 3.3% nickel, containing 33,700 tonnes of nickel metal. Notably, all 33,700 tonnes are within 350 metres of the surface, facilitating easier and more cost-effective mining and extraction.

The upgrade is the result of three drilling campaigns, totalling 6,700 metres, since December 2022. According to Ainscough, the Baker deposit, characterised by high-grade, shallow-depth nickel sulphide, excellent metallurgical properties and ease of access, represents a valuable asset for Lunnon Metals. Despite prevailing negative sentiment, the company has de-risked and grown the Baker project, securing necessary permits for future mining operations.

Currently, 22,900 tonnes of nickel metal are in the indicated resource category at Baker, with an additional 3,700 tonnes classified as measured resources for the first time. The Baker-Foster project now holds a combined resource of 3.1 million tonnes at 3% nickel, translating to 95,100 tonnes of contained nickel metal.

Lunnon Metals plans to advance a pre-feasibility study for the Baker-Foster Project and develop a mining proposal for Foster, aiming for initial approval for dewatering and rehabilitation as it prepares to resume mining.

#ProactiveInvestors #LunnonMetals #ASX #NickelMining, #KambaldaNickelProject, #MiningUpgrade, #NickelSulphide, #MineralResourceEstimate, #HighGradeNickel, #WesternAustraliaMining, #DrillingCampaign, #MiningIndustry, #ResourceExpansion, #NickelProduction, #MiningDevelopment, #PreFeasibilityStudy, #MiningProposal, #MineralExploration, #NickelMetal, #MiningUpdate, #BakerNickelDeposit, #FosterProject #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews

Voyageur Pharmaceuticals CEO Brent Willis joined Steve Darling from Proactive to announce that the company and Rain Cage Carbon are advancing their collaboration following the first commercial creation of a V@C60 endohedral fullerene or Vanadium atom inside a C60 molecule. Rain Cage is now embarking on the next phase of radiology drug development using their cutting-edge technology.

Willis told Proactive that Rain Cage will begin working to create on a commercial scale, the encapsulation of gadolinium, bismuth, and iodine within endohedral fullerenes. This pioneering work, set to begin later this month, aims to develop a process to create Gd@C60, Bi@C60, and I@C60 endohedral fullerenes, targeting the development of highly advanced radiology contrast agents for Magnetic Resonance Imaging (MRI) and CT scans. These novel compounds, known for their rarity and complex synthesis, hold the promise of transforming medical imaging by significantly enhancing the precision and clarity of radiological scans.

Endohedral fullerenes are a class of fullerenes that enclose an additional atom, ion, or cluster within their inner sphere, exhibiting superior physical and electronic characteristics compared to regular fullerenes. In the context of radiology drugs, endohedral metallofullerenes offer distinct advantages through exceptional stability and bioavailability, an amplified signal that leads to better image clarity and resolution, targeted delivery, and reduced toxicity. These properties have garnered interest in applications such as MRI contrast agents

#proactiveinvestors #voyageurpharmaceuticalsltd #tsxv #vm #vyyrf #ctscan #xray

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Aclara Resources Chief Financial Officer Francois Motte joined Steve Darling from Proactive to share exciting news: the company has announced the filing of a new Environmental Impact Assessment for the Penco Module rare earths project with the Environmental Service Assessment (SEA) in Chile. The EIA incorporates an improved technical design of the project, which the company believes addresses all concerns related to environmental and social requirements from public services and local communities. Additionally, the EIA has been optimized following a review conducted by CAP S.A.

Motte told Proactive that the company has held meetings with over 1,000 residents, leaders, and opinion leaders of Penco, receiving 303 recommendations and comments. The company states that the changes in the EIA present a smaller but more robust project that maintains the positive aspects of the previous EIA, such as a fully recycled water source, revegetation with native species, and the generation of over 2,000 direct and indirect jobs. Environmental stewardship remains at the core of Aclara, and the company has taken an active approach to protecting native species through a program aimed at distributing a significant number of "naranjillos" and other vulnerable native species to social and regional organizations in the Biobio region and other areas in Chile for conservation.

The next steps include submitting the EIA, expecting a positive admissibility within five days, followed by a 40-day observation period by authorities. The evaluation process will involve both technical assessment and public consultation, where Aclara will present the project's improvements.

#proactiveinvestors #aclararesourcesinc #tsx #ara #mining #rareearth

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Pantheon Resources Executive Chairman David Hobbs joined Steve Darling from Proactive to announce the company has released the results of the recent Independent Expert Report by Cawley Gillespie & Associates. This report completes the independent estimates for the Company's aggregate resources from the Kodiak field, Ahpun western topsets, and Alkaid horizon, resulting in totals exceeding 1.5 billion barrels of ANS Crude and 6.5 trillion cubic feet of associated gas.

The company states that the Ahpun topsets on the west side of the Dalton Highway can be economically developed, even after excluding the potential market offtake for natural gas. The best estimate of 282 mmbbl of contingent recoverable resources of ANS crude and 803 billion cubic feet of natural gas underscores Pantheon's ability to support the in-State phase of the Alaska LNG project, initially with Ahpun volumes and with its Kodiak field resources.

Hobbs told Proactive that the report evaluated the economics of the best estimate or 2C case. Based on an ANS Crude price of $80 per barrel delivered to the US West Coast, CGA estimates the net present value of the total contingent resources in the western topsets in the Ahpun field at $1.74 billion.

This report extends the independent assessments of all the Company's contingent resources discovered, appraised, and for which development approvals are being prepared. As previously announced, the Company is targeting a Final Investment Decision at the earliest possible date subject to regulatory consents, but in any case, to allow first production no later than 2028.

#proactiveinvestors #pantheonresourcesplc #mining #lse #panr #pthrf

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Pyxis Tankers Inc (NASDAQ:PXS) chairman and CEO Valentios (Eddie) Valentis, talked with Proactive about the recent Posidonia shipping event and its impact on the shipping industry.

Valentis shared his insights on the optimistic outlook for shipping sectors despite global headwinds. He highlighted that industry players are leveraging substantial cash balances to pay down debt, renew fleets, and make significant shareholder distributions. Valentis noted the strong chartering environment for product tankers, influenced by tighter inventories and changing trade patterns due to geopolitical conflicts.

Discussing market conditions, Valentis provided an update on product tankers and dry bulk sectors. He mentioned the positive near-term outlook supported by refinery additions and OPEC+ supply cuts.

Additionally, Valentis shared Pyxis Tankers' recent performance, including Q1 2024 financial results, fleet expansion, and new acquisitions. He also outlined the company's shareholder value enhancement initiatives, such as share buyback programs and reducing convertible preferred shares.

Valentis said the favourable prospects for both sectors and its existing capital resources allow Pyxis to actively pursue value-enhancing investment opportunities.

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Tonix Pharmaceuticals CEO Dr. Seth Lederman joined Steve Darling from Proactive to announce the completion of the initial phase of an assessment conducted by EVERSANA® Life Science Services, LLC on the U.S. market opportunity for Tonmya. Tonmya represents a potential groundbreaking first-line therapy for fibromyalgia management, positioning itself as a non-opioid, centrally-acting alternative in a market dominated by opioids.

Lederman highlighted the concerning dominance of opioids in the fibromyalgia prescription market, despite well-documented risks of dependency. Tonmya aims to address this gap by offering a safer, non-addictive option for fibromyalgia patients. EVERSANA's primary market research indicates promising interest from physicians, with a median interest rating of 4.0 on a 5-point scale and an intended use of Tonmya in 40% of fibromyalgia patients upon approval. The analysis also noted that approximately 50% of fibromyalgia patients in the U.S. are on Medicare. The Inflation Reduction Act, effective in 2025, will cap out-of-pocket prescription drug costs for Medicare patients, which could improve access to Tonmya if approved.

With the submission of the New Drug Application (NDA) for Tonmya slated for the second half of the year, Tonix Pharmaceuticals anticipates an FDA decision on approval by 2025.

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