Proactive - Interviews for investors

Neometals Ltd, headquartered in Western Australia, has recently upgraded its listing on the OTC market in the United States. General Manager for Investor Relations, Jeremy McManus, detailed the company's focus on developing mineral processing technologies aimed at recovering critical materials from high-value waste, transitioning from its roots in exploration and mining to a focus on the circular economy.

The company operates three main business units: lithium battery recycling, lithium chemical production, and vanadium chemicals, all based on hydrometallurgical techniques. Their flagship project, a lithium battery recycling initiative, is a 50/50 joint venture with a German plant builder named Primobius. This joint venture includes operations in Germany and a pilot facility for Mercedes-Benz.

McManus highlighted a recent opportunity to acquire 80% of a business with its own technology, which has shown promising interim results from test programs. In the next three to six months, Neometals aims to advance the construction and commissioning of their German facility for Mercedes-Benz, pursue industrial partnerships for their vanadium and lithium business units, and make an investment decision on their precious metals project in Colorado by August.

The US market is significant for Neometals due to opportunities for selling recycling plants and raising awareness. The company's recent OTC listing upgrade is a strategic move to enhance visibility and engagement in the American market.

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The FTSE 100 slipped lower on Friday despite data indicating that the housing market is showing signs of improvement.

Halifax’s house price index saw the value of houses rise by 1.5% in May, outperforming analysts’ expectations for a 1.2% jump. It marks the sixth consecutive rise in the index. The average UK house price now stands at £288,688.

Meanwhile, housebuilder Bellway also said spring trading was strong, with improved affordability leading to higher reservation rates compared with the first half of its financial year. Matching prior guidance, the FTSE 250 firm is on track to deliver around 7,500 homes this year with an average selling price of around £305,000, up from the previous guidance of £295,000.

Over in the US, British tech entrepreneur Mike Lynch was cleared of fraud overnight, having been accused of his involvement in the US$11 billion sale of his software firm Autonomy to Hewlett Packard.

Lynch had denied inflating the value of Autonomy and a San Francisco jury agreed, finding him not guilty on all accounts, and sparing him a potential 20-year prison sentence.

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Sunstone Metals Ltd (ASX:STM) managing director Patrick Duffy is back in the Proactive studio to discuss an imminent drilling campaign over the priority Limon discovery at the Bramaderos project in southern Ecuador.

The precious and base metals explorer will begin diamond drilling next week at the gold and silver prospect, where it will target an area of known high-grade mineralisation.

Recent trenching in this area produced promising results, such as 14.95 metres at 4.8 g/t gold, including 6.2 metres at 10.7 g/t, 3.9 metres at 8.4 g/t gold, and a high-grade segment of 1.9 metres at 16.2 g/t.

Sunstone’s initial drilling campaign will focus on the Central Shoot and Western Target, about 1 kilometre apart, suggesting the potential for a substantial shallow high-grade resource at Limon.

Duffy noted that this campaign is a crucial stepping stone on the company’s journey to establish a substantial resource at the gold and silver discovery, which could lead to early production and cash flow opportunities.

This initiative is part of a broader strategy to develop larger gold-copper-silver porphyry systems at the Bramaderos Project.

The Limon area has an exploration target of 900,000 to 1.7 million ounces of gold equivalent, within 30-44 million tonnes at a grade of 0.9 to 1.2 g/t gold equivalent. Recent assay results have also expanded the drill testing areas at the western targets.

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Santacruz Silver Mining Executive Chairman and Interim CEO Arturo Prestamo joined Steve Darling from Proactive to provide a production update on the company's various mining operations. The company processed 470,749 tonnes of material and produced 4,478,122 silver equivalent ounces, including 1,581,949 ounces of silver, 22,847 tonnes of zinc, 2,953 tonnes of lead, and 256 tonnes of copper.

Prestamo told Proactive that Santacruz has successfully restructured its debt with Glencore, resulting in enhanced financial flexibility and a more robust balance sheet. This strategic move has bolstered the company’s financial position and should allow for better optimization of Santacruz’s core business activities and the pursuit of long-term growth.

During the first quarter, production at its Bolivian mines faced several disruptions due to various events, including national holidays and the national population census. Caballo Blanco experienced a challenging quarter due to additional production disruptions caused by safety training and mining in areas with lower silver grades. However, the preparation of new areas is progressing well, thanks to the integration ramp. Caballo Blanco is expected to mine areas with higher silver grades in the coming months, and together with fewer operational disruptions, the company expects a better performance.

Préstamo also highlighted the advantageous metal pricing, especially for silver and zinc, and expressed confidence in the company's ability to generate strong cash flows.

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BioHarvest Sciences CEO Ilan Sobel joined Steve Darling from Proactive to announce a significant achievement: VINIA®, the first commercialized product developed on the Botanical Synthesis platform, set a new record for monthly sales orders in May, reaching 1.98 million. This represents a remarkable 101% increase compared to May 2023.

During the interview, Sobel explained that the sales growth in BioHarvest's Products division was primarily driven by strong subscription rates for VINIA. The company's core nutraceutical capsule business saw significant growth, bolstered by additional "VINIA Inside" products, such as VINIA Superfood Coffee, part of the Hot Beverage lineup. This impressive sales performance underscores BioHarvest's successful Direct-to-Consumer sales strategy, which has consistently increased both the number of new customers and total subscribers.

Looking ahead, the company is planning several new marketing programs set to launch in early June. These initiatives, combined with additional VINIA products in the near-term pipeline and the ramp-up of its CDMO Services Business Unit, position BioHarvest for a robust second quarter in 2024. Revenue for this period is projected to be in the range of $5.7-6.0 million. Sobel expressed confidence in the company's growth trajectory, highlighting the expansion of their product offerings and the ongoing success of their strategic marketing efforts.

Furthermore, BioHarvest's investment in research and development continues to yield promising results, with new product innovations expected to further drive revenue and market penetration. The company's commitment to leveraging its unique Botanical Synthesis technology positions it as a leader in the nutraceutical space, offering high-quality, scientifically-backed products to a growing consumer base.

Sobel also touched on the importance of sustainability and environmental responsibility in BioHarvest's operations. The company's production methods are designed to be eco-friendly, minimizing waste and reducing the carbon footprint, aligning with the increasing consumer demand for sustainable and ethically produced products.

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Horizon Copper CEO Erfan Kazemi joined Steve Darling from Proactive to share insights into the company's robust portfolio and strategic future plans, emphasizing a focus on copper assets.

Horizon Copper is dedicated to building a strong portfolio of copper projects. The company currently holds interests in three major copper assets. One of their notable investments includes a 1.7% stake in the Antamina mine, which is the third-largest copper mine globally. This asset is not only generating cash flow but also recently had its mine life extended by over a decade. The approval of Antamina's Environmental Impact Assessment (EIA) could potentially further boost its cash flow.

Another significant asset in Horizon Copper's portfolio is its interest in the Oyu Tolgoi mine, which is anticipated to become the fourth-largest copper mine in the world. This project is expected to start generating cash flow by 2027, with long-term production forecasts spanning several decades.

Horizon Copper's third key asset is the Hod Maden project, which is notable for its discovery and is expected to enter commercial production within a few years.

Kazemi emphasized Horizon Copper's strategy of partnering with large, reputable companies like Rio Tinto to diversify and expand their portfolio continuously. The company is also actively seeking new acquisitions to ensure steady, long-term returns for its shareholders.

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BGX Black Gold Exploration Ord Shs (CSE:BGX) CEO Francisco Gulisano provides an overview of the company in an interview with Proactive's Stephen Gunnion.

Black Gold Exploration is involved in the exploration of natural resources, primarily in Argentina and other American countries. Currently, it is focused on the El Carmen hydrocarbon project along the northern margin of the San Jorge Cretaceous age sedimentary basin, where it aims to certify resources.

Gulisano highlighted the company's plans for seismic and drilling operations, mentioning its efforts to manage environmental impact.

Additionally, the company is pursuing new projects in Argentina, where the government is supportive of foreign investment and offers tax benefits for exploration activities. The new president's pro-investment stance is seen as a positive development for the company. Gulisano mentioned the environmental and engineering agreements in place with the government to facilitate their operations.

Regarding the El Carmen basin, Gulisano noted the presence of natural gas and the potential for oil resources, emphasizing ongoing exploration efforts. He mentioned the commencement of environmental jobs and surveys in the area and promised updates on their progress.

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AuAg Funds CEO and founder Eric Strand discussed the positive performance and outlook for gold and silver in an interview with Proactive's Stephen Gunnion.

Strand noted that gold prices are nearing the target range of $2475 to $2500, driven by substantial central bank purchases, especially by China, which is increasing its gold reserves while reducing US Treasury holdings. Other contributing factors include the US Federal Reserve's easing of monetary policies and significant deficit spending.

Silver has also performed well, with the gold-to-silver ratio improving from 87:1 to 70:1, aligning with AuAg's forecasts. Strand highlighted silver's dual role as both a monetary and industrial metal, emphasising its superior conductivity and the looming possibility of a physical shortage. This dual demand and potential shortage could drive prices higher.

Strand reported a strong performance for AuAg’s Silver Bullet fund, driven by the rising silver prices and the scarcity of primary silver miners. The fund has seen significant gains since early spring, despite a challenging start to the year. Although there may be short-term fluctuations due to market conditions, Strand remains optimistic about the fund's prospects.

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Ondo InsurTech PLC (LSE:ONDO) chief executive Craig Foster joined Proactive's Stephen Gunnion with details of the company's 17th insurance partner, Ageas UK, the UK-based personal lines insurer with around 4 million customers.

Foster said the partnership involves providing Ageas customers with free LeakBot leak detection devices to help reduce water damage claims costs.

He also highlighted a successful fundraise, which garnered £4.2 million through a placing and an open offer. This capital, aimed at supporting growth, particularly in the United States, saw a 96% take-up rate from retail investors. This influx of funds is intended to bolster infrastructure and support Ondo's expansion, especially given the promising opportunities with existing US partners such as Nationwide, Selective, and Pure.

Foster noted that the company's strategy involves supplying free leak detection technology to end consumers, with insurance companies paying for these services on a recurring basis. Ondo InsurTech is operational in Scandinavia, the UK, and the US, with more deals expected to be announced soon.

Foster emphasized the importance of the US market and the unique value proposition Ondo InsurTech offers to address rising claims costs.

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Eco (Atlantic) Oil & Gas Ltd chief executive Gil Holzman joined Proactive's Stephen Gunnion with details of a farm-in deal to acquire a 75% stake in Block 1 in the Orange basin offshore South Africa, becoming the operator.

The block, formerly owned by Cairn, remained under a local South African company post-Covid. Eco Atlantic's fast-track approach, technical expertise, and deep understanding of the Orange Basin were key factors in securing the deal. The block includes extensive seismic data, facilitating immediate active exploration.

Holzman highlighted the block's potential, with shallow water gas fields estimated at around 5 TCF and significant oil prospects in deeper waters. The block's location between major discoveries by Shell and Galp enhances its attractiveness. Although there are no immediate seismic or drilling commitments, Eco Atlantic aims to advance the block to a drill-ready stage swiftly.

Holzman noted ongoing activity in the Orange Basin, with several wells expected to be drilled within the next 18 months, possibly including their blocks. The company plans to attract another major partner for the drilling campaign and will commence data collection and analysis upon government approval of the deal.

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