Proactive - Interviews for investors

Torque Metals Ltd (ASX:TOR) managing director Cristian Moreno sits down with Jonathan Jackson in the Proactive studio to discuss the completion of extension drilling at its wholly owned flagship Paris Gold Project, southeast of Kalgoorlie on the gold-rich Boulder-Lefroy Fault Zone. Assay results are imminent and a new drilling phase is being planned.

Moreno also talks about an option agreement to acquire a 100% interest in a strategic package of tenements with gold and lithium potential in the Eastern Goldfields of Western Australia. This acquisition aligns with the company's strategy to consolidate prospective ground near its Penzance Exploration Camp, which includes the New Dawn lithium and Paris gold discoveries.

The tenements span approximately 250 square kilometres, increasing Torque’s project area to around 1,200 square kilometres. This expansion will provide Torque with a dominant position in the region. The tenements are near notable projects such as Lord Resources' Horse Rocks, Future Battery Minerals’ Kangaroo Hills and Mineral Resources’ Mt Marion Lithium Project. These areas share similar geological characteristics, primarily greenstone belts with adjacent intrusions, indicating strong potential for gold and lithium.

Torque has also applied for additional tenements to expand its New Dawn Lithium Project. Moreno highlighted that upon exercising the options, Torque would secure 100% ownership of the tenements, enhancing its portfolio to include 13 mining, four prospecting and 38 exploration licences. The company has initiated geological mapping and sampling at new target areas, preparing for initial drilling campaigns.

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Western Metallica Resources CEO Greg Duras joined Steve Darling from Proactive to announce the initial results from the company's ongoing sampling program at the Turmalina Project. This project spans 2,747 hectares and is renowned for its high-grade copper-molybdenum deposits, hosted in tourmaline breccia pipes. The Turmalina Project is strategically located in the Piura region of northern coastal Peru, approximately 170 kilometers by road from the Pan-American coastal highway to the west. Situated at an elevation of 2,600 meters in the western Cordillera of the Peruvian Andes, the project benefits from its proximity to the coast and a major road, positioning it within the same metallogenic belt as significant projects like Rio Blanco, Canariaco, and La Granja.

Duras highlighted the significance of the recent rock chip sampling, which has confirmed historic results and aligns with the historical grade sections of the main breccia pipe. These sections are located at both level 0 and level 5, the only levels currently partially accessible. The sampling efforts have provided promising insights into the mineral composition of the Turmalina Project.

One notable sample collected from a face at level 0 returned a copper (Cu) value of 0.1%, a molybdenum (Mo) value exceeding 1%, along with 1 gram per ton (g/t) of gold (Au) and 37 grams per ton (g/t) of silver (Ag). More consistently, six samples have been collected along level 5, revealing an average copper value of 2.9%, with a maximum of 5.9%, and average molybdenum values of 0.19%, including one sample exceeding 1% Mo.

These initial results are encouraging and demonstrate the potential of the Turmalina Project. Western Metallica Resources is committed to further exploration and development of this high-grade mineral resource. The company plans to continue its sampling program to gain a more comprehensive understanding of the project's mineralogy and to identify additional areas of interest for future drilling.

The Turmalina Project's location within a well-known metallogenic belt, alongside other major projects, underscores its strategic importance. The proximity to existing infrastructure, including major roads and the coast, enhances the project's accessibility and potential for future development.

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Westwater Resources SVP and CFO Steve Cates joined Steve Darling from Proactive to express strong support for the initiatives taken by the United States Trade Representative and the White House regarding tariffs on electric vehicles (EVs) and critical minerals. This endorsement came in response to the White House's announcement detailing the outcomes of a comprehensive four-year review of Section 301 tariffs on Chinese imports. Notably, this review has resulted in significant policy changes, including a substantial increase in tariffs on Chinese EV imports, which will rise from 25% to 100% by 2024. Additionally, a new 25% tariff on natural graphite imports from China is set to take effect in 2026.

Cates emphasized Westwater Resources' strategic focus on producing high-quality, battery-grade natural graphite anode material within the United States. This initiative is specifically aimed at supporting the burgeoning market for non-Chinese electric vehicles. Cates articulated the company's unwavering commitment to establishing a robust and reliable domestic supply chain for these critical materials.

Westwater Resources firmly believes that these recent tariff measures send a clear and powerful message about the United States' dedication to reshoring its supply chain for essential minerals like graphite. This move is seen as a pivotal step in bolstering domestic production capacities for both batteries and electric vehicles. The company is optimistic that these tariffs will serve as a crucial catalyst for the nascent and vital U.S.-based natural graphite industry, enabling it to compete effectively against the current market dominance held by China.

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RocketFuel Payment Solutions CEO Peter Jensen joined Steve Darling from Proactive to discuss the company's pioneering role in facilitating efficient money transfers. RocketFuel is dedicated to making transactions between individuals and businesses more streamlined and secure, focusing not only on the current market but also on the substantial unbanked population worldwide. Traditional electronic payment systems often suffer from inefficiencies, such as vulnerability to fraud and high costs associated with cross-border transactions. RocketFuel aims to address these issues by leveraging advanced modern technologies.

Jensen elaborated on how RocketFuel is optimizing these processes using blockchain technology. This innovative approach is particularly crucial given the global context: approximately 2 billion people worldwide are unbanked, struggling with digital payments due to a lack of access to conventional banking services. RocketFuel’s blockchain-based solutions enable these individuals to participate in the digital economy, thereby promoting financial inclusion on an unprecedented scale.

The adoption of blockchain technology represents a significant shift in the financial landscape. Jensen highlighted the banking industry's concerns about this emerging market. As blockchain-based payments become more accessible, unbanked individuals might bypass traditional banking systems entirely. This scenario is reminiscent of how many people in developing countries leapfrogged the need for landline telephones by adopting mobile phones directly. While traditional banks offer a range of essential services, some basic functions, like payments, could be managed more efficiently through blockchain technology.

The potential impact of adopting blockchain technology for digital payments is substantial. Jensen pointed out that such adoption could reduce transaction costs by up to 75%, significantly enhancing overall productivity and economic growth. This reduction in costs can free up considerable resources that could be redirected towards other societal benefits, such as improving education and healthcare systems.

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U.S. Gold CEO George Bee Corp joined Steve Darling from Proactive to reveal a significant achievement for the company's CK Gold project as the Wyoming Department of Environmental Quality issued its surface gold mine permit. This milestone allows U.S. Gold to resume work on a prefeasibility study, marking a pivotal step forward in project development.

With the mine operating permit secured, U.S. Gold is advancing its feasibility study, with substantial progress already made in process plant design and equipment procurement. The company aims to update the prefeasibility study by the third quarter of 2024 and subsequently finalize the feasibility study, incorporating project upside opportunities.

Bee emphasized that the project is nearing completion of remaining conditions, including the approval of the reclamation bond, which is already submitted. Additionally, the Wyoming Pollutant Discharge Elimination System permitting process is in its final stages, and technical work for WDEQ Air Quality Division permits is under review. U.S. Gold anticipates receiving the necessary permits by mid-year, aligning with prior guidance and further advancing the CK Gold project toward production.

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Silver North Resources CEO Jason Weber joined Steve Darling from Proactive to announce the completion of an option agreement with three prospectors holding the GDR Project in southern Yukon. Comprising three claim groups totaling 150 claims in the Silvertip-Midway District, the GDR Project is strategically located near Silver North’s Tim Silver Property, currently under option to Coeur Mining. The project claims encompass geology prospective for Carbonate Replacement Deposits (CRDs), akin to those explored at Tim and Coeur’s neighboring Silvertip Mine Project.

Weber highlighted the accessibility of the GDR Project properties via road and trail, emphasizing their potential for high-grade Ag-Zn-Pb CRD mineralization. Showings of Ag-Pb-Zn and multi-element soil geochemical anomalies underlain by Paleozoic limestone underscore the project's geological similarity to CRD mineralization at Silvertip.

Veronica, situated 11 km north of Silvertip and proximal to Silver North’s Tim project, exhibits a multi-element soil anomaly spanning 450 by 450 m, with unexplored potential to the east. Soil samples reveal promising values of 0.3 - 31.1 ppm Ag, 60 - 3100 ppm Pb, and 50 - 612 ppm Zn, presenting an enticing target for exploration follow-up. The area features limestone and quartzite outcrops, further enhancing its prospectivity.

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Steppe Gold Chief Financial Officer Jeremy South joined Steve Darling from Proactive to share news about the company's plan to hold a shareholder vote on June 24th in Mongolia regarding the proposed acquisition of Boroo Gold. If approved, the transaction will involve Steppe Gold acquiring Boroo Gold in exchange for issuing common shares, resulting in Boroo Singapore holding 55.9% of Steppe Gold's issued and outstanding common shares.

South highlighted the strategic benefits of the acquisition, including an increase in combined gold production to 90,000 ounces per annum by 2025 and 150,000 ounces of gold equivalent per annum by 2026. The transaction is expected to generate strong cash flow, enhance financial strength to support the ATO Gold Mine Phase 2 Expansion debt and project financing, fund exploration programs, and provide opportunities for further acquisitions in Mongolia. Additionally, the sale of the Tres Cruces Project will enhance liquidity and position Steppe Gold as a multi-asset producer with a focus on Mongolia.

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Ideal Power CEO Daniel Brdar joined Steve Darling from Proactive to provide an in-depth discussion on the company's advancements in manufacturing power semiconductors. These essential components play a critical role in a wide range of everyday devices, including home appliances and electric vehicles (EVs). Ideal Power has developed an innovative power semiconductor known as B-TRAN, which stands out due to its remarkably low energy losses. This technology significantly enhances efficiency across various applications, making it a game-changer in the industry.

One of the key benefits of B-TRAN is its ability to increase the range of electric vehicles, a crucial factor in the adoption of EV technology. Additionally, B-TRAN enhances the effectiveness of solar power systems in both residential and commercial settings, thereby promoting sustainable energy solutions. The semiconductor's bi-directional capabilities are particularly valuable for applications involving batteries, such as grid support systems and electric vehicles. This feature contributes to more cost-effective and efficient energy management, addressing one of the major challenges in the energy sector.

Ideal Power's primary customers are Original Equipment Manufacturers (OEMs) that integrate these advanced semiconductors into a variety of products. These range from power converters used in energy storage systems to drivetrains in hybrid and electric vehicles. The company's innovative technology has recently undergone a rigorous test and evaluation program, which has been met with considerable success. This has led to commercial orders from several large, well-recognized companies, demonstrating the market's confidence in Ideal Power's solutions.

Moreover, Ideal Power has initiated a collaboration with Stellantis, one of the leading global automakers, to develop next-generation electric vehicle platforms. This partnership is expected to drive further advancements and adoption of Ideal Power's semiconductor technology in the automotive industry.

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Delivra Health Brands CEO Gord Davey joined Steve Darling from Proactive to announce the financial and operating results for the three and nine months ended March 31, 2024. The company reported a total net revenue from continued operations of $8,792, reflecting a 36% increase compared to the same period last year, driven by higher sales of Dream Water in the US and Canada, along with increased sales of LivRelief.

Additionally, Davey told Proactive, Delivra saw a healthy rise in its gross profit margin, reaching 52%, up from 44% in the same period last year. This improvement contributed to positive Adjusted EBITDA, attributed to management's focus on customer mix, gross profit margin enhancement, and efficient administrative and selling support functions.

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Lunnon Metals Ltd (ASX:LM8, OTC:LNMLF) managing director and CEO Edmund Ainscough takes Proactive's Stephen Gunnion through a mineral resource update for the company's Foster South project, which he described as very encouraging. The project now boasts an updated mineral resource estimate of 375,000 tonnes with a 4.7% nickel content, which was based on recent metallurgical drilling.

Ainscough highlighted significant historical data and the high recovery rates of the testing done, which contributed to an overall 10% increase in both tonnes and metal content without changing the grade.

Foster South, a historical mine with a deep nine-kilometre decline, is positioned as a key target for development and mining upon any potential restart of the project. Despite the current negative sentiment towards nickel, Ainscough said the project's proximity to existing infrastructure and high-grade resources positions it well for future developments.

He further noted the ongoing integration and evaluation with the Baker deposit, and the importance of external factors such as decisions from BHP on their nickel business which could affect third-party processing alternatives.

Lastly, Ainscough touched upon the company's strategic pivot to gold exploration during the hiatus in its nickel program, leveraging the region's prolific gold belt. This dual-focused strategy aims to optimize resource development while awaiting further clarity on nickel market conditions.

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