Proactive - Interviews for investors

hVIVO Chief Executive Officer Mo Khan joined Steve Darling from Proactive to share significant news about the company's latest developments. hVIVO has signed a £2.5 million contract with a mid-sized pharmaceutical company to initiate an Omicron characterisation study. The manufacturing of hVIVO’s Omicron BA.5 challenge agent was successfully completed in 2023.

Khan explained that the study aims to identify a dose of hVIVO’s Omicron BA.5 challenge agent that can establish a safe, measurable, and reproducible disease in healthy volunteers aged 18-30. The goal is to achieve sufficiently high infection rates to use this model for testing the efficacy of antivirals and vaccines in the future.

The study is expected to commence in Q4 2024, with the majority of revenue recognized in 2025. It will be conducted at the company’s new CL3 quarantine facility at Canary Wharf. This state-of-the-art facility has been specifically designed to meet the highest hospital isolation suite standards suitable for CL3 pathogens. It is equipped with advanced safety features, including physical containment barriers, controlled ventilation systems with negative pressure and HEPA filtration, and comprehensive waste management protocols.

This will be the first COVID-related human challenge study that hVIVO will undertake since the contract announcement in June 2022. The study represents a significant step forward in understanding and combating the Omicron variant of the virus, contributing valuable data for the development of effective treatments and vaccines.

Khan highlighted the importance of this contract for hVIVO, emphasizing the company's leading role in the field of human challenge studies. The successful completion of this study will not only advance scientific knowledge but also reinforce hVIVO’s reputation as a pioneer in the development of innovative solutions for infectious diseases.

In conclusion, hVIVO’s £2.5 million contract for the Omicron characterisation study marks a pivotal moment for the company. With its advanced CL3 quarantine facility and proven expertise in human challenge studies, hVIVO is well-positioned to make significant contributions to the fight against COVID-19 and other infectious diseases. The study’s findings are expected to play a crucial role in the development of new antivirals and vaccines, ultimately helping to safeguard public health

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Lightning Minerals Ltd (ASX: L1M) managing director Alex Biggs sits down with Jonathan Jackson in the Proactive studio to talk about the completion of due diligence for its transaction to acquire Bengal Mining Pty Ltd.

Bengal, through its subsidiary Tigre Mineracao Ltda, holds option agreements over two lithium projects, Caraíbas and Sidrônio, in Brazil’s Lithium Valley district in Minas Gerais. Completion of due diligence is a crucial step towards finalising the proposed acquisition, pending shareholder approval at an Extraordinary General Meeting (EGM) on June 13, 2024.

The company is set to start ground reconnaissance by contract geologists at the projects this week. Additionally, Biggs and exploration manager Jarrad Woodland are scheduled for a site visit in early June.

The projects are 20 kilometres south of Latin Resources' Colina project in the prolific Lithium Valley. Multiple pegmatites have been identified at Caraíbas, with peak lithium rock chip assay results grading up to 0.53% Li2O. Significant tantalum, rubidium and caesium rock chip assay results have also been noted as positive exploration indicators. Strong aeromagnetic geophysical trends have been observed to correlate with regional mineralised trends.

The projects are within the Salinas Formation, which hosts other significant lithium resources in the region. The proposed acquisition is based on resource milestones of 5 million, 10 million and 30 million tonnes, indicating substantial potential at both project and company levels.

Biggs will also attend the Lithium Summit 2024 in Belo Horizonte.

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Hercules Site Service CEO Brusk Korkmaz and Chief Financial Officer Paul Wheatcroft joined Steve Darling from Proactive provided a trading update for the six months ended March 31, 2024, based on unaudited management accounts.

The company is on track with market expectations for the full year to September 30, 2024, with revenue expected to surpass £47 million for the first half, marking a notable 27% increase compared to the same period in 2023. This growth, across all income streams, is attributed to substantial demand in the infrastructure sector.

Korkmaz highlighted several key developments, including securing new contracts totaling over £5 million in civil projects and signing a significant framework agreement with Costain. The integration of Future Build Recruitment, acquired in December 2023, is progressing smoothly, yielding cross-selling and upselling opportunities with existing clients.

Moreover, Hercules Construction Academy, launched in January 2024 in the West Midlands, has swiftly gained recognition for delivering top-tier training and upskilling programs for industry workers. This strategic foothold in the heart of England positions the company to address the ongoing skills shortage in the UK effectively.

With continued revenue growth, strategic expansions, and initiatives like the Construction Academy, Hercules Site Service demonstrates its commitment to meeting market demands, driving innovation, and contributing to the development of skilled professionals in the industry.

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London's FTSE 100 ticked higher on Monday, with the prospect of a blockbuster IPO also adding to the good feeling in the City.

Chinese fast-fashion giant Shein is reportedly close to filing for its London listing in the coming weeks and is expected to receive a valuation of around £52 billion. However, before the listing is approved it is likely to come under scrutiny from both political parties due to allegations of Shein’s unethical operations.

GSK tumbled after a ruling from a court judge in Delaware allowed more than 70,000 Zantac lawsuits to go forward. Under the new ruling, expert witnesses will now be able to testify in court and argue that the heartburn drug may cause cancer.

GSK said it disagrees with the judge’s decision and plans to appeal it, arguing that the expert witnesses’ opinion lacks scientific support.

Finally, Hipgnosis, the embattled music royalty fund, has agreed with Blackstone over a takeover worth US$1.58 billion, or US$1.31 per share.

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CuFe Ltd executive director Mark Hancock joins Proactive’s Jonathan Jackson to discuss heritage and exploration efforts at the North Dam Lithium Project in Western Australia on licences E15/1495 and M15/1841.

The company, in collaboration with Terra Rosa Consulting, completed an archaeological and ethnographic survey under the Heritage Protection Agreement with the Marlinyu Ghoorlie Native Title Claimant Group. Preliminary findings from this three-day survey are expected within two weeks.

Additionally, the Department of Mines, Industry Regulation and Safety (DMIRS) has approved an extension to CuFe's program of works, enhancing the Stage 1 drilling program's scope. CuFe has conducted field mapping and soil geochemistry to refine drill targets, with more high-density soil sampling planned before reverse circulation (RC) drilling starts in July 2024.

CuFe is also investigating rare earth elements (REE) and niobium mineralisation, following up on rock chip sampling that reported high-grade niobium results of up to 43.93% in August 2023. Three pegmatite bodies have been identified as potential sources of columbite and tantalite chips. Recent rock chip samples are under analysis in Perth with results due within two weeks.

Preparation for the RC drilling program includes the completed flora survey, the approved program of works and the heritage survey. Drill contractors have been shortlisted and drilling is set for July 2024. Hancock highlighted the importance of the heritage survey and expressed optimism about upcoming rock chip results and the overall project progress.

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Galileo Mining Ltd (ASX:GAL) managing director Brad Underwood sits down with Jonathan Jackson in the Proactive studio to discuss a major milestone; a farm-in and joint venture agreement with a wholly owned subsidiary of Mineral Resources Ltd (MinRes).

The agreement involves Galileo’s subsidiaries, Norseman Resources Pty Ltd and Ganymede Resources Pty Ltd. Under this agreement, Galileo will sell 30% of its lithium rights on the Norseman tenement package for $7.5 million.

Underwood expressed enthusiasm for the lithium exploration joint venture, highlighting the strategic location of the Norseman project and the benefits of collaborating with MinRes. The project is in a region with high lithium potential and existing infrastructure. Galileo will receive $5 million within five days of the agreement’s execution and an additional $2.5 million within 12 months, bolstering its cash reserves for further exploration activities at Norseman and Fraser Range projects.

The joint venture will initially be 30% MinRes and 70% Galileo. MinRes can increase its stake to 55% by funding an additional $15 million in exploration over four years and to 70% by funding through to a Decision to Mine.

Upon reaching 70%, Galileo can choose to either contribute to development costs or convert its interest into a royalty. The project’s rights to nickel, PGEs and other minerals, excluding those in lithium-bearing pegmatites, remain with Galileo.

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Iondrive Ltd (ASX:ION) CEO Ebbe Dommisse sits down with Jonathan Jackson in the Proactive studio to discuss the completion of a $2 million placement, issuing 222,222,222 new shares at $0.009 each.

Major shareholders Strata Investment Holdings Plc and Ilwella Pty Ltd participated, highlighting support for Iondrive's recycling technology. Board and management also contributed $260,000.

The funds will complete the Battery Recycling Pre-Feasibility Study (PFS), essential for the Pilot Plant's progression, expected by September.

Iondrive's technology uniquely extracts critical minerals from end-of-life lithium-ion batteries sustainably.

Dommisse expressed gratitude for the strong shareholder support and highlighted the importance of battery recycling technologies recognised by governments in Australia, the UK, the EU and the USA. The raised funds will also support industry collaborations, early planning for the Pilot Plant and general working capital.

Iondrive is advancing towards the completion of its PFS with a focus on technological, commercial and executional de-risking strategies. This comprehensive approach aims to establish a robust foundation for the anticipated Pilot Plant construction, scheduled for the financial year 2025.

The development of a continuous, fully integrated closed-loop pilot plant process marks a significant next step following the large-scale bench trials. Scaling the technology to reflect a commercial process operating in continuous mode is critical to the project's success.

In addition to these activities, the completed Rho Motion market research study and a planned benchmarking study are set to compare the competitiveness of Iondrive's technology with incumbent processes. This techno-economic evaluation is integral to the PFS, aiming to mitigate technical, commercial, and execution risks associated with the project.

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Copper Lake Resources CEO Terry MacDonald joined Steve Darling from Proactive to share the results generated from the recently completed winter diamond drilling program on its Marshall Lake copper-zinc-silver VMS property in Northwestern Ontario. The company focused its drilling efforts on two new target areas, including a prominent magnetotelluric conductor situated proximal to and below high-grade copper-zinc-silver mineralization known as the Conductive Centre. The second new drill target comprised an EM conductor located 2 km to the east of the Billiton deposit.

MacDonald told Proactive that drilling to date has defined a conductive centre of potentially economic size, associated with multiple high-grade copper-zinc-silver intersections at reasonable depths. Establishing continuity within this target area requires further drilling to confirm the extent and grade of the mineralization. Although the company did not encounter massive sulphides in hole MAR-24-02, the strong to very strong alteration observed is indicative of proximity to massive sulphide deposits. These drilling results have provided the company with valuable information to zero in on what it believes to be an ore-grade VMS deposit.

MacDonald also highlighted that the drilling continues to indicate a robust hydrothermal system capable of producing a significant VMS deposit. Follow-up drilling to define the continuity of previously encountered high-grade mineralization in the conductive centre is clearly warranted. The company's exploration efforts are aimed at confirming the size and grade of the mineralization, which could potentially lead to the development of a significant mining operation.

Copper Lake Resources remains committed to advancing the Marshall Lake project and is encouraged by the positive results from the winter drilling program. The identification of new target areas and the confirmation of high-grade mineralization at reasonable depths are key steps in the company's exploration strategy. The next phase of drilling will focus on further delineating the conductive centre and testing additional targets identified through geophysical surveys.

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BioHarvest Sciences CEO Ilan Sobel joined Steve Darling from Proactive to share the company's financial and operational results for the first quarter of 2024. The company reported significant revenue growth in Q1 2024, with revenues increasing by 147% to $5.34 million, compared to $2.2 million in the same period of the previous financial year. This also represents an 18% increase from the preceding Q4 2023. Previous guidance for Q1 2024 was $5.2-5.3 million. This impressive performance was driven by continued strong sales of VINIA®, which fueled revenue growth in the Products division.

Sobel highlighted that gross margins in Q1 2024 improved to 56%, compared to 37% in the same period of the prior financial year. In the U.S., total subscribers increased by 122%, while marketing and sales expenditures rose by only 39% compared to the same period in the previous year. This indicates a highly efficient growth strategy that has maximized subscriber acquisition without a proportional increase in spending.

Management has set optimistic expectations for Q2 2024, projecting revenues in the range of $5.7 to $6.0 million. The company also anticipates reaching EBITDA break-even in the second half of 2024. This financial milestone is expected to be supported by the launch of a new Contract Development and Manufacturing Organization (CDMO) business unit. This unit has already signed two significant contracts: one to develop patentable, plant-based molecules for a Nasdaq-listed pharmaceutical company, and another for a leader in the nutrition and ingredients industry.

Furthermore, BioHarvest Sciences is on track to uplist to the Nasdaq exchange in the second half of 2024. This strategic move is expected to enhance the company's visibility and attract a broader base of investors, providing further growth opportunities.

Sobel expressed confidence in the company's direction and highlighted the importance of the new CDMO unit in diversifying BioHarvest Sciences' revenue streams. The development of plant-based molecules aligns with the company's commitment to innovation and sustainability, positioning it at the forefront of the biotech industry.

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Oceansix Future Paths CEO Elad Hameiri joined Steve Darling from Proactive to announce exciting news that the company’s recently acquired RePack has been selected to participate in the prestigious Amazon Sustainability Accelerator. This recognition underscores RePack's innovative approach to addressing the single-use packaging challenge and marks a significant milestone in its mission to revolutionize e-commerce deliveries. RePack is a pioneer in reusable packaging systems, boasting a decade of proven success in the industry.

Hameiri told Proactive that the company was chosen from hundreds of applicants worldwide to join 14 other pioneering European companies in the third edition of the Amazon Sustainability Accelerator. This selection is a testament to RePack's commitment to sustainability and its potential to make a substantial impact on the e-commerce sector.

The Amazon Sustainability Accelerator is designed to support and scale innovative solutions that address environmental challenges. The selected companies will participate in a comprehensive four-week program that provides an unparalleled platform to enhance business operations, pilot cutting-edge technologies with Amazon, and establish strategic partnerships. This program aims to equip the participants with the tools and resources necessary to accelerate their growth and amplify their impact.

RePack's inclusion in the Amazon Sustainability Accelerator highlights the growing recognition of its reusable packaging solutions, which offer a sustainable alternative to traditional single-use packaging. By reducing waste and promoting a circular economy, RePack is helping to create a more sustainable future for e-commerce.

Hameiri emphasized the importance of this opportunity, noting that the program will enable RePack to further refine its technology and expand its market reach. The collaboration with Amazon and other leading companies in the accelerator will provide valuable insights and open new avenues for growth.

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