Proactive - Interviews for investors

Zanaga Iron Ore CEO Marty Knauth joined Steve Darling from Proactive to share significant updates regarding the company's flagship asset, the Zanaga Iron Ore Project located in the Republic of Congo. With all necessary permits and licenses secured, Zanaga Iron Ore is poised to capitalize on the positive outcomes of its 2024 Feasibility Study update.

Knauth highlighted the robust economics of the project, particularly its staged development plan. The first stage involves a capital investment of US$1.94 billion, with operating costs projected at US$31.5 per dry metric tonne (dmt) of finished ore. The net Present Value (NPV) is estimated at US$3.68 billion, with an Internal Rate of Return (IRR) of 26.2%.

Moving forward, the company plans to focus on magnetite expansion projects, including infrastructure enhancements such as a buried concentrate pipeline and port infrastructure. These developments are expected to further bolster the project's economic viability and attract potential strategic investors.

The positive feasibility study results provide increased confidence in the project's economic feasibility within the current market and cost environment. This serves as a catalyst for potential investors to consider funding the next phase of the project, which entails front end engineering and design programs to refine project elements and mitigate risks.

Furthermore, the next phase will prioritize the development of management plans for various aspects including environment, community, training, health, water management, mine waste, and closure. These efforts underscore Zanaga Iron Ore's commitment to responsible and sustainable resource development practices.

Knauth mentioned his recent travels to China and Japan, where he engaged with potential investors, receiving positive feedback. He noted that the detailed 2024 feasibility study has facilitated these discussions. The company is currently focused on finalising the front-end engineering program, integrating technical, social, and risk assessments, and preparing for a construction decision.

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Voyageur Pharmaceuticals CEO Brent Willis joined Steve Darling from Proactive to announce a significant milestone for the company with the signing of its first sales contract valued at USD $1.9 million. The contract spans a three-year term and involves a distribution partner specializing in radiology drugs in Latin America.

Under the agreement, the distribution partner will have exclusivity in two Latin American countries, facilitated by covering all regulatory and licensing costs. The contract pricing structure is based on achieving volume milestones, providing incentives for both parties to drive sales growth.

Willis highlighted that this major sales distribution agreement positions Voyageur to expand its market presence across Latin America. The company's flagship product, SmoothX®2% w/v, will serve as the lead entry product, with plans to introduce additional products, including Vision HD® 98%, Vision LD® 96%, Smooth HD® 105%, Smooth LD® 60%, and V-Gas®.

SmoothX®2% w/v, currently available for immediate sales and distribution, is a contrast media designed for use in Computed Tomography (CT) of the gastrointestinal tract. The product's formulation of barium supports high-quality imaging, offering reproducible results for accurate diagnosis and image comparison. Clinical tests have demonstrated patient preference for SmoothX over existing products used in CT imaging, indicating its potential for market success.

This sales contract signifies an important step forward for Voyageur Pharmaceuticals, positioning the company for growth and expansion in the Latin American market.

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Baron Oil CEO Dr Andy Butler joined Steve Darling from Proactive to announce the company's proposal to change its name to Sunda Energy plc. This new name reflects the company’s strategic focus on gas exploration and production in Southeast Asia, particularly in the Sunda region, a vast archipelago known for its rich natural resources. The Board believes the company holds significant competitive advantages in this region, including a robust operating platform, a team with considerable experience and a stellar reputation, strong relationships with government and industry peers, and extensive regional knowledge that will enable the execution of a clear, value-oriented growth strategy.

Butler also detailed the company’s year-end financial results, highlighting several major milestones achieved over the past year. Notably, Baron Oil has made substantial progress with the Chuditch asset in Timor-Leste, moving from the evaluation phase into drilling preparation. Chuditch, estimated to hold 1.2 trillion cubic feet of gas and 200 million barrels of oil equivalent. The drilling is planned for early next year, with preparations well underway.

Additionally, Baron Oil secured a farm-up agreement with TIMOR GAP, Timor-Leste's national oil company, completed after the reporting period. This agreement increased TIMOR GAP's working interest in the Chuditch project from 25% to 40%, with TIMOR GAP now responsible for 20% of the Production Sharing Contract (PSC) costs. This strategic partnership not only strengthens the project's financial foundation but also aligns with regional development goals.

The company remains focused on securing additional funding partners to participate in the drilling of the appraisal well. This effort is crucial for advancing the Chuditch project and realizing its full potential. The name change to Sunda Energy plc is seen as a pivotal step in aligning the company's identity with its strategic ambitions and regional focus.

In conclusion, Baron Oil's proposed name change to Sunda Energy, combined with its significant achievements over the past year, positions the company for continued growth and success in the Southeast Asian gas sector. The company’s strategic focus, robust partnerships, and strong regional presence are expected to drive future developments and enhance shareholder value.

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Greenwing Resources Ltd (ASX:GW1) chairman Rick Anthon joins Proactive’s Jonathan Jackson to discuss the company’s San Jorge Lithium Project in Argentina and in particular its maiden mineral resource estimate.

The company has calculated 670,000 tonnes of indicated resources and 400,000 tonnes of inferred resources, totalling 1.07 million tonnes of lithium carbonate equivalent (LCE). Laboratory and downhole geophysics (BMR) measurements indicate positive specific yield porosity values averaging 7.4% in the volcanics and sediments. Drilling on the western side of the salar revealed brine mineralisation at depths of 402 and 351 metres in holes SJDD04 and SJDD05, respectively. Further studies suggest the brine body extends to the north and west of the current resource.

Greenwing is planning a Phase 2 drilling and testing program to expand the resource footprint and advance process testing. The initial 6-hole drill program targeted the peripheries of the 2,800-hectare salar, with infill drilling planned for the highly prospective salar as part of the follow-up program.

Anthon highlighted the significance of the maiden resource estimate achieved through the initial 6-hole program, emphasising the rapid development of the project. The company will also initiate a Preliminary Economic Assessment (PEA) to evaluate the project's development options, including different processing technologies and energy alternatives.

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Applied Graphite Technology Corporation CEO Don Baxter joined Steve Darling from Proactive to announce a significant milestone for the company. Applied Graphite has closed a non-brokered private placement with a strategic investor for $300,000. The net proceeds will be used for the exploration of the Queens Mine Complex graphite project.

Baxter discussed ongoing efforts at the Queen's Mine complex in Sri Lanka, including permitting and rapid progress towards obtaining mining licenses. The company aims to start production by mid to late fall, focusing on extracting high-purity graphite (95% carbon) without the need for extensive processing facilities. This natural graphite is essential for lithium-ion batteries, particularly for the anode component, and has a smaller environmental footprint compared to synthetic graphite.

The high quality and low capital expenditure of Applied Graphite Technologies' product make it attractive for the battery industry, including applications in electric vehicles and stationary storage. Baxter highlighted the proven effectiveness of their graphite in battery anodes, reinforcing the company's strategic importance in the market.

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U.S. Gold Government Affairs and Community Relations Manager Jason Begger joined Steve Darling from Proactive to shed light on the company's mining project in Wyoming. Highlighting Wyoming's rich history with mining and the favorable reception to the project, Begger underscored the state's understanding and support for responsible resource development.

Begger expressed satisfaction with the smooth permitting process, characterized by open dialogue among the company, regulators, and stakeholders. He emphasized the economic benefits for Wyoming, projecting an estimated impact of $70-80 million through taxes and royalties. As traditional coal mining faces regulatory challenges, the state welcomes this new resource project, aligning with the U.S.'s strategy for self-sufficiency in critical materials.

Addressing environmental concerns, Begger assured that U.S. Gold Corp adheres to rigorous standards and best practices. The company remains committed to transparency and community engagement, facilitating a faster permitting process. Begger credited the company's proactive approach and experienced team for reassuring regulators about the project's viability and commitment to high standards.

With a positive outlook on resource development and a commitment to sustainability, U.S. Gold Corp aims to contribute to Wyoming's economic growth while meeting the demand for domestic minerals, thereby advancing the U.S.'s goals for self-reliance in critical materials.

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Giyani Metals CEO Danny Keating joined Steve Darling from Proactive to highlight a significant transformation within the company, reflecting its shift from mining to processing high-purity manganese for the electric vehicle (EV) battery market. Over the past year, Giyani Metals successfully raised $26 million, welcomed new shareholders, and secured a strategic investor in the IDC group from South Africa.

This evolution necessitates changes in the board composition to align with the company's new strategic direction. As part of this transition, several board members will step down, allowing for the infusion of fresh expertise, particularly in the EV battery market and project financing. Mark Burnett, an experienced professional in these areas, will join as interim chair until the Annual General Meeting (AGM).

Giyani Metals is focused on constructing a demonstration plant in Johannesburg, aimed at showcasing its processing capabilities and products to potential offtake partners. This initiative plays a pivotal role in the company's broader objective of reaching a Final Investment Decision (FID) by mid-next year. Supported by mining permits, licenses, and a definitive feasibility study, Giyani Metals is strategically positioning itself to capitalize on the growing demand for battery-grade manganese.

In the coming months, Giyani Metals will accelerate its program, complete the demonstration plant, and actively engage with customers to secure offtake agreements. These efforts are geared towards de-risking the project for future financing, underscoring the company's commitment to becoming a leading player in the EV battery materials market.

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Nextech3D.ai CEO Evan Gappelberg joined Steve Darling from Proactive to discuss the company's Q1 performance. Despite a slight drop in revenue, Gappelberg highlighted a significant improvement in the company's profit margin, which rose from 30% in Q1 2023 to an impressive 51% in Q1 2024. This notable enhancement is attributed to aggressive cost reduction measures, including the relocation of operations to India. Monthly expenses decreased from $2.2 million to $850,000, with further reductions anticipated in Q2.

Gappelberg underscored the importance of enterprise customers, particularly mentioning Nextech3D.ai's largest client, Amazon, and the addition of new enterprise clients. The company continues to excel in 3D modelling, delivering thousands of models monthly. Recent expansions include the introduction of a new AI-powered 3D model search engine, an expanded AR tech team in Hyderabad, and an entry into the jewellery industry.

Moreover, Nextech3D.ai launched an AI technology incubator and obtained pivotal patents for generating 3D models from 2D images. Gappelberg emphasized that while Q1 revenue was modest, the company's focus remains on long-term profitability. Nextech3D.ai aims to secure five large enterprise deals, which are anticipated to drive future growth. Gappelberg expressed confidence in their strategic approach and extended gratitude to shareholders for their ongoing support.

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Compumedics Ltd (ASX:CMP) CFO and company secretary David Lawson talks to Proactive’s Jonathan Jackson about the company’s record revenues of at least $46 million for FY24, with sales orders exceeding $50 million. The company anticipates a profit for FY24 due to strong sales performance.

Compumedics has projected record sales orders and revenues for FY24 driven by strong growth in its Australian sleep and neurodiagnostic businesses. The company has received new MEG orders and has seen increased European sales, particularly boosted by the Okti wireless EEG amplifier. In the USA, sales growth reached 60% in H2 FY24. Compumedics reported an H1 FY24 EBITDA of $2.2 million, though there is uncertainty in meeting the prior guidance of $5 million due to investments in the US sales and marketing team and delays in resuming DWL's China business.

In the Somfit commercialisation update, Compumedics expects SaaS revenue to exceed $4 million for FY24, up from $1.7 million in FY23. Sales have commenced in the USA following FDA approval, with initial revenues invoiced in Q4 FY24. Both Somfit and Nexus 360 show significant revenue growth.

For MEG, the installation at Tianjin Normal University in China is expected to be completed soon, with two additional MEG sales planned for 2025. These sales represent about $14 million in new orders.

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Antipa Minerals Ltd (ASX:AZY) managing director Roger Mason joins Proactive’s Elisha Newell after the explorer returned promising early results from a drilling program at the wholly owned Minyari Dome Gold-Copper Project in WA’s Paterson Province.

So far, the company has completed 39 reverse circulation holes out of the 71-hole program, with initial assays from the first six holes showcasing thick zones of high-grade, near-surface gold and copper mineralisation.

Some of the best initial results include 66 metres at 1.4 g/t gold and 0.04% copper from 118 metres in hole, with notable intersections of 17 metres at 4.4 g/t gold from 157 metres and 4 metres at 15.5 g/t gold from 168 metres.

Commenting on the results, Mason noted the potential for a substantial shallow, maiden resource at GEO-01, which remains open in multiple directions. Big-picture, the phase one program aims to establish a maiden mineral resource estimate at the GEO-01 prospect and explore new gold-copper targets, including three high-priority geophysical targets.

On top of the prospect roster, three Pacman targets, 30 kilometres east of the Minyari deposit, will be drilled with three diamond core holes for 3,150 metres, supported by Western Australia EIS co-funding grants totalling A$440,000.

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