Proactive - Interviews for investors

Blue Sky Uranium CEO Niko Cacos joined Steve Darling from Proactive to announce the exciting acquisition of two new projects in Argentina, covering nearly 80,000 hectares. These new projects are prospective for the discovery of uranium deposits that are amenable to In Situ Recovery, a method known for its lower environmental impact and cost-effectiveness. This strategic acquisition aligns with Blue Sky Uranium's initiative to broaden the company's medium to long-term prospects for discovering additional uranium mineral resources.

Cacos elaborated that the company has an option to earn a 100% interest in the Corcovo project, which benefits from new mining promotion initiatives by the provincial government. The state-owned National Atomic Energy Commission has identified significant uranium exploration potential in this area. Uranium radiometric anomalies have been detected at depth in oil and gas wells, indicating geological conditions consistent with those found in ISR uranium deposits. This suggests a promising potential for significant uranium resources that could be economically extracted using ISR methods.

The second project, known as Chihuidos, has a rich exploration history. Initially recognized by the National Atomic Energy Commission (CNEA) in the 1960s and 1970s, it was more recently explored by Cameco Corporation in a joint venture with Calypso Uranium Corporation in the early 2000s. Chihuidos is situated on a topographic high, surrounded by airborne radiometric anomalies and surface uranium occurrences, providing strong potential for a preserved uranium mineralized system at depth. This historical exploration data enhances the project's prospects, making it a valuable addition to Blue Sky Uranium's portfolio.

To advance these projects, Blue Sky Uranium has initiated the permitting process for field programs. Concurrently, the company is focused on identifying and prioritizing prospective targets for future exploration and drill testing. This involves updating and verifying the existing database for both projects, which includes publicly available borehole surveys and seismic 2D/3D surveys from historical oil and gas exploration. These comprehensive data sets will help refine exploration strategies and target the most promising areas for drilling.

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Gold Basin Resources CEO Colin Smith joined Steve Darling from Proactive on-site at its Gold Basin Project to discuss the ongoing drilling program in the Arizona desert. Smith shared insights into the current drilling operations, which are actively being carried out at the Stealth deposit. This deposit has yielded promising results from previous drilling programs, including significant intercepts of surface oxide gold. Current drilling efforts are focused on the northern side of the area, a region that has not been extensively drilled before. Historical data indicate substantial potential in this part of the deposit, prompting the decision to drill new holes aimed at expanding both the breadth and depth of the known gold mineralization, particularly towards the north-northwest. This strategic focus is based on the encouraging historical data that suggest untapped potential in these zones.

Smith delved into the technical aspects of the ongoing drilling, highlighting that two holes are being drilled at different angles to test down-dip and down-plunge extensions. These methods are designed to provide a more comprehensive understanding of the deposit's structure and to identify additional zones of gold mineralization. Smith expressed his enthusiasm about returning to the field, a setting he finds immensely fulfilling given his extensive experience in the mining industry. The primary objective of this drilling program is to advance towards the maiden 43-101 resource estimate, which is expected to be completed in the third or fourth quarter of this year. Each meter drilled is crucial as it contributes to expanding the known oxide gold envelope, connecting different parts of the deposit, and enhancing the overall mineralization.

This systematic approach aims to delineate a robust and economically viable gold resource that can support future development and mining operations. Smith emphasized the significance of the current drilling program for both the Gold Basin Project and Gold Basin Resources as a whole. He highlighted that the successful execution of this program would not only enhance the company's asset base but also position it strategically for future growth and value creation. The initial results from the drilling are eagerly anticipated, as they will provide critical data to guide subsequent exploration and development activities.

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London's FTSE 100 made a positive start to the week, gaining 18 points or 0.23% to 8,165 in the first 15 minutes of trade.

In macro news, house prices in the UK remained roughly flat this month after hitting a record high in May, according to Rightmove data released overnight, though average prices are up 0.6% compared to a year ago.

According to the report, the snap election call by Rishi Sunak has only had a small effect, with most buyers and sellers not changing their plans in light of the potential change in government.

Rentokil was the top blue-chip riser in early trading, up 1.8%, which seems to be on the back of a note from RBC Capital Markets.

Ladbrokes owner Entain gained 1.4% and HSBC rose 1.35%.

The top risers on AIM this morning are Sound Energy and Longboat Energy.The latter has reached an agreement to sell its 50.1% holding in Longboat Japex Norge to its joint venture partner JAPEX for $2.5 million cash plus Longboat's share of drawn debt, currently $8.5 million net.

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Lunnon Metals Ltd (ASX:LM8) has reported high-grade gold discoveries at the Lady Herial and Plentiful prospects within the Foster-Baker (FBA) project area, part of the Kambalda Nickel Project in Western Australia. The company conducted diamond and reverse circulation (RC) drilling at these prospects, which are among its high-priority gold exploration targets.

Assays revealed near-surface, gently dipping quartz vein structures at Lady Herial, with notable results including 3 metres at 14.8 g/t gold from 15 metres. At Plentiful, a 50-metre strike zone of gold mineralisation was identified, with significant results such as 3 metres at 2.59 g/t gold from 49 metres and 11.8 metres at 1.43 g/t from 117.6 metres, including 0.9 metres at 5.72 g/t.

Managing director Edmund Ainscough highlighted the success of the company’s gold-focused drilling programs, emphasising the potential for a low-cost approach to near-surface gold exploration, especially given the current high gold prices in Australian dollar terms. The company plans to prioritise follow-up drilling at Lady Herial to quickly develop these prospects while considering larger, deeper opportunities.

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Sarytogan Graphite Ltd (ASX:SGA) managing director Sean Gregory sits down with Proactive’s Meagan Evans to discuss the high performance for lead acid batteries comprising Sarytogan ultra high purity graphite (UHPG) in the anode.

Sarytogan’s inverted flowsheet produces ultra-high purity fines (UHPF) as a by-product, suitable for advanced industrial use. UHPF has demonstrated superior performance in lead acid battery anodes.

Lead acid batteries, the most widely used battery type globally, provide half of the world's rechargeable power. Graphite for this application sells for US$12,000 to US$20,000 per tonne at high volumes. The global lead acid battery market produced 450GWh in 2021, utilising 60,000 to 75,000 tonnes of carbon or graphite annually.

Sarytogan’s American technology partner produced lead acid battery cells with 12 Ah capacity using Sarytogan UHPF. These batteries showed higher and more consistent discharge capacity than control batteries using leading expanded graphite.

Lead acid batteries are cost-effective, 95% recyclable and widely used in various applications, offering advantages over lithium-ion batteries. UHPF is also suitable for alkaline and lithium primary batteries. Sarytogan aims to produce three product types to maximise market placement from its high-grade mineral resource. The company expects to complete its pre-feasibility study by September 2024.

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Valeo Pharma CEO Steve Saviuk joined Steve Darling from Proactive to discuss the company's financial results for the second quarter, which saw record-breaking revenue for the period. The company reported revenues of $14.1 million for Q2, an increase from the $13.6 million recorded in the same quarter of 2023. This represents a growth of 4%. The revenue increase was primarily driven by a boost in sales due to promotional activities in the respiratory segment, Allerject, and sustained growth from other core products such as Redesca and Simbrinza.

However, Saviuk emphasized that these top-line numbers do not fully capture the extent of the company's progress. Despite the overall growth, the company faced revenue softness in several of its non-core brands and encountered short-term structural delays in Ontario that impacted Redesca. These challenges somewhat masked the robust performance of Valeo's asthma franchise, which saw a 52% increase in Q2 revenues compared to the same quarter the previous year. Specifically, total prescriptions for Enerzair and Atectura for the 12 months ending April 30, 2024, surpassed 88,000, marking a significant 96% increase over the 12-month period ending April 30, 2023.

In addition to discussing revenue figures, Saviuk announced that Valeo Pharma is undertaking a comprehensive restructuring of its commercial field operations. This initiative aims to improve profit margins, reduce operating expenses, align the company's commercial infrastructure with current market dynamics, and accelerate its journey towards profitability. These cost reduction measures are expected to decrease operating expenses by more than $5 million annually. Combined with previously implemented cost-saving strategies, Valeo anticipates that total cost savings will exceed $7 million.

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Nostra Terra Oil & Gas Company PLC CEO Paul Welch talked with Proactive about the company's latest developments and strategic direction. Welch, who stepped up as CEO recently, shared insights into Nostra Terra’s focus on long-life conventional production in East Texas. Highlighting the primary asset, the Pine Mills Field, Welch discussed the potential to double production by revitalizing existing wells.

Welch also explained the company’s divestment strategy, selling off assets in South and West Texas to concentrate resources and investments in East Texas. This move aims to enhance profitability and streamline operations. He emphasized the critical role of newly appointed board member James Newman, whose extensive experience in rejuvenating mature assets aligns perfectly with Nostra Terra’s goals.

Welch noted the company sees the potential double production by turning on wells that have been shut in for some time. This strategic shift, along with updated company presentations and plans for future expansions, sets a promising trajectory for Nostra Terra.

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Ariana Resources PLC managing director Kerim Sener takes Proactive's Stephen Gunnion through a revised mineral resource estimate (MRE) for the Dokwe project in Zimbabwe, which shows a 40% increase in gold ounces to 1.83 million.

Sener detailed the completion of the revised MRE, which integrates extensive drilling data and advanced geological models.

"We've built an entirely new geological model," Sener said, highlighting the 56 million tonnes at over a gram per tonne of gold, totaling 1.83 million ounces of gold overall between Dokwe North and Dokwe Central. The ongoing pit optimization study, considering various gold price scenarios, aims to enhance the feasibility study, potentially boosting reserves to 1 million ounces.

Sener also discussed the anticipated merger with Rockover Holdings, set to conclude by the end of June, and its impact on progressing the feasibility study for the Dokwe project. The merger ratio, set at 62.5% for Ariana shareholders, underscores the value recognized through independent valuations.

Stay tuned for updates on the feasibility study and further economic assessments. For more detailed insights, watch the full interview. Don’t forget to give the video a like, subscribe to our channel, and enable notifications for future content.

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London's blue-chip index has kicked Friday off flat, failing to experience much of the AI rally which has pushed US indexes to record highs over the last few days. 

Overnight in the US, Elon Musk had his US$56 billion pay package approved by Tesla shareholders at its AGM, marking the biggest bonus of its kind in history. 

Shares in Tesla closed the session close to 3% higher and have kept flat in pre-market trading, but still remain down over 26% for the year. 

Meanwhile, in the UK, FTSE 250 housebuilder Bellway revealed it had an offer for fellow industry rival Crest Nicholson rejected last month.  The deal valued Crest Nicholson at around £650 million, or 253p per share, but management believed it "significantly undervalued" the company and its future prospects. 

Finally, Tesco has hailed food sale growth, driven by rises in fresh produce volumes, as a key aspect in extending its leading market share position further.  The country's largest supermarket increased its market share by 59 basis points to 27.6%, helped by growth in all its channels including food sales which rose by 5.1% year-on-year.

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Lisata Therapeutics Inc. CEO David Mazzo talked with Proactive's Stephen Gunnion about the latest milestone in the company's Phase 1b/2a CENDIFOX trial.

Mazzo shared that Lisata has completed patient enrollment for the pancreatic cancer cohorts in the phase 1B/2A clinical trial.

This investigator-initiated trial, led by Dr Anup Kasi at The University of Kansas Cancer Center, is evaluating the safety and efficacy of certepetide (formerly LSTA1) in combination with FOLFIRINOX-based therapies for pancreatic, colon, and appendiceal cancers.

Mazzo highlighted that the trial will enbable the collection of pre- and post-treatment biopsies of tumors. He also mentioned ongoing efforts to complete enrollment in two additional cohorts focusing on colorectal cancer and other tumor types, expecting these to be completed by the end of the year.

Expressing his optimism, Mazzo noted the encouraging progress and enthusiasm surrounding the trial, which is drawing patients from the Kansas City area despite competition from other studies. He anticipates that preliminary results will be available by the end of the year, pending the timely processing of biopsies by external laboratories.

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