Proactive - Interviews for investors

Northstar Gold Corp's CEO, Brian Fowler joined Steve Darling from Proactive to announce the signing of a Letter of Intent with vendors for the 64-hectare Philip Property. This property is adjacent and southeast of Northstar’s Miller Copper-Gold Property along the historic Boston Creek Copper Trend.

Fowler explained that the Philip Property LOI strengthens Northstar’s strategy to consolidate the Boston Creek Copper Trend and complements the previously signed Boston Creek Mines Property LOI. Both LOIs include a six-month exclusivity period for due diligence and negotiation of acquisition terms.

The Philip Property is crucial to Northstar’s exploration strategy for the Boston Creek Copper Trend. It will allow the company to ground truth and drill test the Zone 2 Extension Conductor up to, and beyond, the Philip Property boundary. Northstar plans to drill test the Zone 2 Extension Conductor later this summer.

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Mammoth Resources Corp CEO Thomas Atkins joined Steve Darling from Proactive to discuss the results of an internal study conducted by the company's geologists, which identified a target for further exploration at the Tenoriba gold-silver exploration property in Mexico. It's important to note that, in accordance with NI 43-101 standards, this target is conceptual in nature, and there is uncertainty whether further exploration will result in its delineation.

The study delineated exploration targets for each of the three gold-silver mineralized areas at Tenoriba, spanning a four-kilometer east-west trend: Carneritos, Masuparia, and Moreno.

Of particular interest is the potential for over 800,000 gold equivalent ounces in the shallow Oxide-Mixed horizon at Carneritos. This near-surface horizon presents an opportunity for delineation over two phases, with an initial program of approximately 59 drill holes at a depth of approximately 50 meters and a recommended drill spacing of 80 meters.

Mammoth Resources Corp's immediate plans include obtaining quotes from drill contractors to assess the cost of the first phase of shallow drilling, which aims to delineate the initial 500,000 gold equivalent ounce inferred resource target at Carneritos. These efforts represent a significant step forward in the exploration and potential development of the Tenoriba property, highlighting Mammoth Resources Corp's commitment to unlocking the property's mineral potential.

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Fathom Nickel CEO Ian Fraser joined Steve Darling from Proactive to share exciting results from the company's recent drilling program at the Gochager Lake Project. The Q1/Q2-24 drill campaign involved seven drill holes, covering a total of 2,656 meters, as part of a broader program where 16 holes were drilled, totaling 5,543 meters.

Fraser reported that the company has now defined a mineralized gabbro unit containing interstitial disseminated magmatic pyrrhotite, pentlandite, and chalcopyrite. This mineralization extends over a northeast-southwest strike of approximately 300 meters and a vertical extent exceeding 400 meters. Importantly, the Gochager Lake deposit remains open for expansion in multiple directions and at depth, offering significant potential for future exploration and development.

The company believes that the disseminated and massive sulphides identified in the drilling are related to a common magmatic source. This source may have injected sulphides as a separate pulse from a larger, yet undiscovered magma chamber. These sulphide-rich zones consistently align with downhole Borehole Electromagnetic (BHEM) conductors occurring within the mineralized gabbro unit. Fathom is particularly encouraged by the presence of semi-massive to massive high-grade sulphide veins, which contain up to 3.25% nickel (Ni). These high-grade intersections are positive indicators that the exploration efforts are nearing the identification of the late-phase magmatic source.

Fraser emphasized that these findings underscore the potential of the Gochager Lake Project. The presence of high-grade nickel sulphide veins within the broader mineralized zone suggests a robust system with significant exploration upside. The company plans to continue its systematic exploration approach, including additional drilling and geophysical surveys, to further delineate and expand the known mineralization.

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Xigem Technologies CEO Brian Kalish joined Steve Darling from Proactive to discuss the company’s impressive Q1 financial results. The company reported gross sales of $694,307 and net sales of $20,830 for the first fiscal quarter of 2024. This compares to gross sales of $439,684 and net sales of $13,191 in the first fiscal quarter of 2023, representing an approximate 58% increase in both cases. Additionally, the company reduced its net comprehensive loss for the first fiscal quarter of 2024 by 65.5% compared to the same period in 2023.

Kalish attributed the strong sales performance to EchoDigital, a SaaS-based platform currently employed by a used car dealer in the Greater Toronto Area. EchoDigital uses proprietary AI to seamlessly generate and convert leads from traditional sources. The AI assesses and qualifies leads, determining their psychological aptitude and matching them with the most suitable and qualified customer service/sales representatives (CSRs) to complete sales online. Xigem plans to expand EchoDigital to other used car dealers in the near future.

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TNR Gold Corp Executive Chairman Kirill Klip joined Steve Darling from Proactive to share significant updates on the Los Azules copper, gold, and silver project in San Juan, Argentina, provided by McEwen Mining. TNR holds a 0.4% net smelter returns royalty on the project, which is held by McEwen Copper, a subsidiary of McEwen Mining.

Klip informed Proactive about the assay results from the recently completed drill season at Los Azules. The primary objectives of this season's infill drilling campaign were to confirm the size and grade of the deposit as compared to the 2023 Preliminary Economic Assessment (PEA) estimate and to upgrade the resource categories for the upcoming feasibility study. Additionally, the campaign aimed to test for extensions of mineralization beyond the current pit shell and explore the large property package for other mineralized areas.

The company completed 70,000 meters of drilling, with notable highlights including intervals such as 349.0 meters of 0.77% copper (Cu), including 232.0 meters of 0.86% Cu, and 382.5 meters of 0.54% Cu, including 74.0 meters of 0.86% Cu.

Moreover, the results indicate the potential for expansion, as evidenced by the intersection of a long interval of low-grade mineralization in the Primary Zone, which transitioned into higher-grade mineralization towards the end of the hole. Importantly, this hole is located entirely outside of the 2023 PEA base case mineable pit shell.

These updates from the Los Azules project signify promising developments and highlight the potential for further growth and expansion, positioning TNR Gold Corp for future success in its mining ventures.

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Andrew Duxbury - Finance Director - Galliford Try Holdings PLC joined Steve Darling from Proactive to share insights into the construction company’s strategic vision and its focus on consistent, predictable, and profitable growth across key sectors in the UK, including education, healthcare, water, highways, and housing.

Duxbury discussed the company’s sustainable growth strategy, which was outlined in 2021 with targets extending to 2030. This strategy emphasizes expanding large core markets and exploring higher-margin adjacent markets, while maintaining a foundation of risk awareness and discipline. As he announced his departure from the company, Duxbury expressed confidence in its robust state.

He detailed ambitious financial goals for 2030, aiming for revenues exceeding £2.2 billion and an operating margin of 4%, effectively tripling profits and dividends compared to FY 2023. Key growth drivers identified include the UK's aging social and economic infrastructure, demographic changes, and the pressing need for decarbonisation.

A significant aspect of Galliford Try’s future growth involves leveraging its expertise in affordable housing. Previously limited by a 2020 restriction, the company now aims to deliver over 1,200 housing units annually by 2030, generating around £250 million in revenue. Margin improvements are expected to come from careful contract selectivity, operational enhancements through digital investments, and the adoption of modern construction methods.

Duxbury highlighted that the potential impact of the upcoming election on the company’s projects is anticipated to be minimal. Essential infrastructure investments are necessary regardless of the government in power, ensuring continuity in the company’s strategic projects.

In conclusion, Galliford Try Holdings PLC is well-positioned to achieve its ambitious growth targets by 2030. The company’s focus on sustainable growth, coupled with its strategic investments in key sectors and innovative construction methods, promises to deliver substantial value to shareholders while addressing critical infrastructure needs in the UK.

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Terra Balcanica Resources CEO Aleksander Miskovic joined Steve Darling from Proactive to provide an update on the Phase I and II exploration drilling conducted within the Viogor-Zanik project in Bosnia-Herzegovina. The company completed approximately 2,200 meters of drilling, focusing on a shallow, high-grade, silver-dominated, intermediate sulfidation polymetallic vein system at the Chumavichi locality.

The maiden drillhole at Chumavichi Ridge yielded promising results, with an interception of 824.2 grams per tonne (g/t) of silver equivalent (AgEq) over 4.0 meters from a depth of 29 meters, including 1,634.4 g/t AgEq over 2.0 meters. Another drillhole at Chumavichi Ridge intercepted 816.1 g/t AgEq over 2.0 meters.

Additionally, the exploration efforts targeted the Brezani area, which revealed a surficial auriferous skarn overlaying an Ag-Pb-Zn-Au mineralized, northeast-shallowing structural system, situated above porphyry andesites stock from a depth of 550 meters. Drill testing of the 650-meter-wide conductivity high at Brezani resulted in intersections of 0.61 grams per tonne (g/t) of gold equivalent (AuEq) over 88.0 meters and 0.58 g/t AuEq over 28.6 meters.

In uranium exploration, Terra Balcanica has acquired licences on the outskirts of the Athabasca Basin in Saskatchewan. Partnering with Fulcrum Metals PLC, they aim to explore a 600 square kilometre area targeting Beaver Lodge and basement-style uranium mineralisation. Initial steps include airborne geophysics and ground truthing, followed by drilling the ranked targets.

Mišković expressed excitement about the potential for shear-hosted gold, VMS, nickel, and copper in the portfolio. The company anticipates a robust stream of news releases in the coming months, reflecting ongoing activities in Serbia and Bosnia, amidst favourable market conditions for gold and silver.

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EQTEC CEO David Palumbo and COO Jeff Vander Linden joined Steve Darling from Proactive to discuss significant developments within the company, including the restructuring of its secured debt facility and a strategic pivot in its business model. The company's debt facility has transitioned to a refinance facility without fixed payments or conversion, a move aimed at enhancing EQTEC’s balance sheet and share price. This restructuring was supported by Riverford, a sophisticated venture debt provider, indicating strong confidence in EQTEC’s post-pivot business model.

The company also announced an equity placing to address its working capital needs, driven by increasing demand for their gasification solutions. This equity placement became necessary following a default by a previous funding subscriber, which adversely affected shareholder value. The placement, executed over a bank holiday weekend, aims to provide a financial buffer until the expected settlement with Logic by June 28th.

Vander Linden elaborated on EQTEC’s strategic pivot from being a technology-focused project developer to a technology innovator and licensor. This strategic shift has resulted in steady month-on-month revenue growth since Q4 2023, with margins projected to increase over 30% in 2024. EQTEC is now concentrating on collaborations with large, well-funded clients and has ceased development activities involving significant liabilities. This shift allows the company to focus on its core strength of advancing its research and development (R&D) capabilities, positioning EQTEC as a leader in the gasification technology market.

The strategic pivot has also enabled EQTEC to streamline its operations and focus on innovation, providing state-of-the-art gasification technology solutions to a broader market. This change is expected to yield higher returns and improve overall business sustainability. EQTEC's ability to adapt and innovate in response to market demands demonstrates its resilience and commitment to delivering value to shareholders and clients alike.

With the restructuring of its debt facility, EQTEC aims to secure a stronger financial foundation, which will support its growth and innovation goals. The company’s focus on R&D and collaboration with substantial clients ensures it remains at the forefront of the gasification technology sector. This strategic realignment is set to drive EQTEC’s success and enhance its competitive edge in the market.

#proactiveinvestors #eqtecplc #aim #eqt

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Chariot Limited Technical Director Duncan Wallace joined Steve Darling from Proactive to share the results from the drilling of the OBA-1 well on the Dartois prospect, the second well in a two-well drilling campaign, in the Loukos Onshore licence in Morocco. The OBA-1 well was drilled safely and efficiently, on time and within budget, to a final measured depth of 901 meters through the target reservoirs.

Wallace explained that the comprehensive evaluation of the well data, including wireline logs, cuttings, and gas data, has led to a preliminary interpretation confirming the presence of reservoirs over an interval of approximately 200 meters in gross thickness. This corresponds to the pre-drill targets. Within this interval, an approximate 70-meter gross interval of primary interest has been identified, containing elevated resistivities coinciding with elevated mud gas readings, indicating potential gas pays. No water-bearing reservoirs were identified.

Further post-drill analysis will be conducted in preparation for well flow testing, which will determine the well's productivity and the gas resource potential of the discovery. The well will now be suspended to allow for future rigless flow testing operations and potential use as a producer well. The rig will then be demobilized.

Wallace also shared that Chariot is looking forward to an offshore drilling campaign planned for Q3 2024 on the Anchois gas field, in partnership with Energean. This campaign is expected to further bolster Chariot's position in the energy sector and expand its portfolio of gas projects.

In conclusion, the successful drilling and preliminary positive results from the OBA-1 well represent a significant milestone for Chariot Limited. The company remains committed to advancing its exploration and development activities in Morocco and is well-positioned to capitalize on the growing demand for natural gas in the region. With the upcoming offshore drilling campaign, Chariot aims to further enhance its resource base and deliver value to its shareholders.

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Oncimmune CEO Martin Gouldstone joined Steve Darling from Proactive to announce the company's interim results for the six months ended February 29, 2024. During this period, Oncimmune achieved revenue of £1.19 million, marking a significant milestone in the company's financial performance. This revenue surpasses the £1.15 million generated from continuing operations in the entire fiscal year 2023, indicating a notable improvement and reflecting a strategic shift initiated in October 2023.

Gouldstone expressed satisfaction with the company's performance in the first half of fiscal year 2024, highlighting the substantial increase in revenues compared to the ImmunoINSIGHTSTM business in fiscal year 2023. This achievement underscores the effectiveness of Oncimmune's new strategic approach and commercial endeavors, which are gaining momentum.

Moreover, Gouldstone revealed that Oncimmune secured contracts for seven new projects during the reporting period. These contracts are expected to be completed by the end of fiscal year 2024, contributing to the company's revenue growth trajectory. Additionally, Oncimmune entered into a Master Services Agreement with Freenome, further enhancing its commercial portfolio.

Looking ahead, Oncimmune is well-positioned for continued growth, with 15 new commercial opportunities in the proposal stage as of April 2024. These opportunities represent a total weighted pipeline value exceeding £2.5 million. While some revenue is anticipated to be recognized in fiscal year 2024, the majority is expected in fiscal year 2025, reflecting the company's ongoing expansion efforts and future revenue prospects.

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