Proactive - Interviews for investors

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.

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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

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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.

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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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Hertz Energy CEO Kal Malhi joined Steve Darling from Proactive to share news about the company's latest acquisition. Hertz Energy has entered into a sale agreement with Engineer Mike Magrum to acquire a 100% interest in mineral claim 102722, located in Nunavut, Canada. This mineral claim is situated within the Cominco Uranium Property and consists of nine blocks totaling 146.33 acres.

Malhi explained that the mineral claim encompasses the Pomie uranium showing, which has a rich history dating back to exploration work conducted by Cominco in the mid-1970s. Cominco's exploration efforts successfully outlined the major structural and petrological aspects of the Pomie showing. The most significant discovery was a large carbonate breccia body, trending parallel to a probable fault structure. Encouraging drill results from two holes, PM-3 and PM-7, revealed fracture-controlled and disseminated mineralization in basalt flows, with grades of 2.59 lbs U3O8/ton over 38 ft and 4.79 lbs U3O8/ton over 43 ft, respectively.

With the addition of this mineral claim, Hertz Energy now owns 100% of the contiguous and whole land package at the Cominco Uranium Property. The combined Yon and Pomie claim blocks cover approximately 5,192 hectares, enhancing the company's holdings in the region.

The company aims to conduct initial work on the uranium assets with plans to possibly spin them off into a separate entity, allowing Hertz Energy shareholders to retain their lithium investments and potentially gain shares in the new uranium-focused entity. However, Malhi clarified that this spin-off is in the concept stage and not yet finalized.

#proactiveinvestors #hertzlithiuminc #cse #hz #mining #lithium

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HeLIX Exploration PLC (AIM:HEX) chairman David Minchin tells Proactive's Stephen Gunnion the results of a scoping study economic analysis for the Ingomar Dome helium project in Montana are very encouraging, showing a robust economic rate of return across various scenarios.

The study, conducted by Aeon Petroleum Consultants Corporation, revealed a headline NPV8 of $303.1 million and a net revenue of $605.6 million after taxes, royalties, capital expenditure, and operating costs.

Minchin highlighted that the initial capital expenditure required to bring the project into production is only $19.7 million. The strong economics are attributed to the low operating costs in Montana and the identification of up to 15% natural gas as a byproduct, which can be used to power the plant, reducing operating costs by approximately 50%.

Minchin emphasised the company’s focus on minimising shareholder dilution, noting that Helix Exploration is exploring various financing options to avoid large-scale dilution while maintaining a high cash flow.

With an estimated free cash flow of over $40 million per year, the company plans to rapidly repay initial capital requirements.

The next steps include drilling to appraise the gas and moving into detailed engineering and construction, aiming for first gas flow before the end of 2025.

Minchin mentioned ongoing conversations with potential financial partners to expedite the project's development cost-effectively.

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Mosman Oil and Gas Ltd (AIM:MSMN) CEO Andy Carroll joined Proactive's Stephen Gunnion after the company announced a deal to sell its interest in Nadsoilco, which owns a collection of oil assets in Texas, in a deal worth up to $1.75 million.

Carroll discussed the company's evolving strategy towards helium exploration, highlighting the significance of helium due to its rising prices and increasing market demand. Mosman Oil has considerable experience in Australia, particularly with EP 145 licence in New South Wales, where its expertise in geology and drilling is applied.

Carroll said the pivot into helium necessitated the sale of the Nadsoilco assets to fund helium exploration.

According to Carroll, Mosman’s streamlined team, led by experienced professionals like Howard McLaughlin, is well-positioned to handle both production and exploration, ensuring effective management and operational focus on helium projects in the US.

With plans to drill five wells in Colorado later this year and ongoing activities at EP 145, he said Mosman aims to maintain a steady news flow and deliver significant progress in the coming year.

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