Proactive - Interviews for investors

Galileo Mining Ltd (ASX:GAL, OTC:GLMGF) managing director Brad Underwood sits down with Jonathan Jackson in the Proactive studio to discuss the finalisation of a farm-in and joint venture agreement with Mineral Resources as well as the results from recent drilling at the Norseman Project in Western Australia.

Galileo has received an initial payment of $5 million for 30% of the lithium rights on the Norseman Project tenements. This funding secures Galileo’s planned nickel, platinum group element (PGEs), and gold exploration programs at Norseman and the Fraser Range Project. Recent drilling at Norseman identified new zones of palladium and platinum mineralisation, with notable results including 64 metres at 0.22 g/t 3E from 104 metres, and 84 metres at 0.13 g/t 3E from 208 metres.

Underwood stated that the completion of the MinRes joint venture would initiate lithium exploration at Norseman. MinRes, with its extensive lithium experience, has secured the right to explore the untested lithium potential at Norseman. Galileo will continue focusing on nickel, PGEs, and gold exploration, leveraging the $5 million tranche to enhance their exploration capabilities. A second payment of $2.5 million is anticipated by May 30, 2025.

The joint venture currently stands at a 30%-70% ownership split between MinRes and Galileo for lithium exploration. MinRes can increase its stake to 55% by funding an additional $15 million, and to 70% by funding up to a decision to mine, with Galileo either contributing to development costs or converting its interest into a royalty.

In April and May, 2,700 metres of reverse circulation (RC) drilling identified sulphide minerals in various geological settings. Significant results have highlighted prospective palladium and platinum zones near geophysical anomalies. Follow-up drilling is scheduled for August to further explore these areas and new IP targets.

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Jane Edmondson, the Head of Thematic Strategy at VettaFi, joined Steve Darling from Proactive to iscussed the NATO defence ETF and its relevance for investors. Key factors contributing to its appeal include global instability, underinvestment in defence, particularly in Europe, and NATO's target of 2% GDP spending on defence, which may increase to 3%. The modernisation of defence technologies, such as drones and cyber defence, also plays a significant role.

In 2023, global defence spending reached a record $2.4 trillion, marking the highest increase since 2009. Most of the spending growth is in Europe, driven by the Russia-Ukraine conflict and the entry of Finland and Sweden into NATO. European Union countries spent €270 billion on defence in 2023, and this figure is expected to rise. A new defence industrial strategy encourages joint investments and procurement among EU nations.

Recent collaborations include France and Germany's joint tank project and a drone defence initiative by six NATO countries. Additionally, there's a surge in defence-related IPOs in Europe, indicating growing interest in the sector. ESG investors are reconsidering defence investments, with many European pension plans reevaluating their positions. VettaFi's index screens for companies compliant with UN and OECD guidelines and focuses on NATO-aligned companies, offering an ESG-friendly approach to defence investing.

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Great Southern Copper PLC managing director Sam Garrett talked with Proactive's Stephen Gunnion about the company's strategic move to acquire the Artemisia concessions following a 90-day due diligence period.

Garrett detailed the acquisition of 1,600 hectares, which are divided into five prospect areas. These areas fill critical gaps in the company's existing project base, particularly at Victoria and Lipa, and extend known mineralisation significantly.

Garrett emphasised the strategic importance of these new prospects, highlighting that they represent immediate drill targets with substantial potential. Permitting for phase one drilling has already commenced, including at least two of the new targets, with drilling expected to begin within the next three months.

The option agreement terms include a 4-5 year period with escalating payments culminating in a total value of $2.5 million for 100% ownership of the project, alongside a 1% vendor retention. Garrett pointed out that this structure allows the company ample time to conduct exploration and confirm target viability before making the final payment.

Investors should anticipate a busy period ahead with planned drilling of 5,500 meters over the next 6 to 24 months across a minimum of four prospects, promising an intensive news flow.

Stay tuned to Proactive's YouTube channel for more updates, and don't forget to give this video a like, subscribe to our channel, and enable notifications for future content.

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Genflow Biosciences PLC (LSE:GENF, OTCQB:GENFF) CEO Dr Eric Leire talked with Proactive's Stephen Gunnion about the company receiving €395,847, representing 50% of the Exofastrack research grant from the Government of Wallonia in Belgium's Advanced Therapy Medicinal Products (ATMPs).

Leire explained that the grant, a non-dilutive, non-reimbursable subsidy, supports Genflow and EXO Biologics' three-year scientific program.

Covering 80% of the expenses, the grant will be used for working capital. The program will deliver a therapeutic product composed of exosomes encapsulating an AAV or mRNA encoding SIRT6. The exosome therapy will be designed to target liver fibrosis (MASH) and Werner Syndrome, an accelerated ageing disease.

Discussing the program, Leire highlighted the potential of exosomes in addressing unmet medical needs and mentioned the innovative photo operation technique for loading exosomes. If successful, this technique could have significant commercial implications beyond the initial progeria research.

For more updates on Genflow Biosciences' groundbreaking research, visit Proactive's YouTube channel, give this video a like, subscribe to the channel, and enable notifications for future content.

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DeepTech Recycling managing director and chief technology Marvine Besong talked with Proactive about the company's recent fundraising efforts and future strategy as it continues to gain traction 1.5 years the company was set up to acquire the bulk of the assets of Recycling Technologies.

DeepTech Recycling, a NetScientific PLC portfolio company, has successfully raised an additional £800,000, bringing its total fundraising to £2.1 million. This significant achievement underscores the urgency of addressing plastic waste and the confidence investors have in DeepTech’s innovative solutions.

Besong highlighted the company’s strategic shift towards providing technology solutions rather than owning and operating recycling plants. This capital-light strategy focuses on licensing technology to other companies, such as packaging producers, to help them meet their extended producer responsibility (EPR) commitments. The recent funds will support ongoing customer projects and the establishment of critical facilities.

Besong discussed the memorandum of understanding (MOU) signed for a new recycling facility in the UK and plans for a larger commercial project. These projects are poised to generate revenue, marking a crucial step for the company.

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Artemis Resources Ltd (ASX:ARV, AIM:ARV, OTCQB:ARTTF) executive director George Ventouras sits down with Proactive’s Jonathan Jackson to discuss the successful completion of a ground reconnaissance program on its West Pilbara Project tenements, confirming gold and copper mineralisation.

The Nickol River Hill South target yielded a high-grade gold assay of 6.93 g/t and a peak copper assay of 10.85% in rock chip samples. Additionally, 21 gold nuggets were discovered at the Sing-Six prospect, suggesting a nearby hard rock source.

Ventouras, expressed satisfaction with the initial results and indicated plans for further exploration around the numerous identified gold targets. The company aims to extend known mineralised areas and develop new drill targets.

The company highlighted multi-commodity results at the Nickol River Hill South prospect, notable gold and silver results at the Lulu Creek prospect, and significant gold findings at the Sing-Six/Sing Well prospect.

Future plans include further field programs to evaluate new structural zones and emerging targets. The Lulu Creek prospect will be the first to undergo drill testing, supported by a government co-funding grant. Additionally, heritage surveys for the Lulu Creek gold prospect and the Mt Marie lithium prospect are being advanced.

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Fah Mai Holdings Group Inc UK head and manager of @whiskybullauctions, Jacob Carter talked with Proactive's Stephen Gunnion about the current state of the whisky market and auction trends in 2023.

Carter highlighted that the whisky market is currently a strong buyer's market, with sellers showing no urgency to sell their collections due to a soft decline in bottle prices at auctions. He mentioned a 5% drop in bottles sold by the end of 2023 and a 19% decrease in hammer prices. Moreover, between 2021 and the end of 2023, there was a 102% increase in bottles failing to reach reserve prices. Despite this, the whiskey industry has seen a significant growth of 322% over the past ten years according to the Knight Frank Luxury Investment Index.

Carter provided specific examples, such as Aberlour, which saw a 21% increase in trading volume and a 13% increase in value. On the other hand, brands like Ardbeg experienced a 20% decline in trading volume and a 23% decrease in value. Carter emphasised the importance of secondary market prices in determining future bottle values.

The interview also touched on the advantages of buying at auctions, noting that a large portion of the market consists of bottles priced at £100 or less, making it accessible to a wide range of collectors. Carter concluded by stressing the impact of supply and demand on auction prices and the importance of auction data for the secondary market.

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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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