Proactive - Interviews for investors

Lisata Therapeutics Inc (NASDAQ:LSTA) CEO David Mazzo tells Proactive's Stephen Gunnion that 2024 is a pivotal year for the oncology company, with Phase 2b ASCEND trial top-line data expected in the fourth quarter.

Discussing the company's first-quarter milestones, Mazzo said the results are anticipated to be foundational for the company's future, potentially leading to provisional approval applications in Australia and subsequent discussions with the FDA and EMA.

Mazzo highlighted Lisata's effective cash management, with over $43 million in funds ensuring operations into 2026. The company has achieved several regulatory milestones, including orphan designations for pancreatic cancer and glioma in the EU and US, and a rare pediatric disease designation for osteosarcoma in the US.

Additionally, Mazzo discussed the rapid progress of the BOLSTER trial in cholangiocarcinoma, expected to provide early data points in 2025. The company plans to expand its trials and anticipates potential partnership announcements by year-end, driven by these developments.

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HANetf co-founder and co-CEO Hector McNeil suggests a strategic shift in investment from dominant tech stocks to broader tech themes.

In an interview with Proactive's Stephen Gunnion, McNeil advocated diversifying away from the 'Magnificent Seven,' big tech firms, due to their high PE ratios and concentration risks. He highlights the potential of broader tech investments, particularly through ETFs that offer diversified exposure across various tech sub-sectors, including robotics, cybersecurity, and digital entertainment.

McNeil emphasised the benefits of equal-weighted ETFs, such as the HAN-GINS Tech Megatrend Equal Weighted UCITS ETF (ITEK) which ensures no single stock dominates the index, providing a balanced investment approach. Additionally, he explored opportunities outside the traditional tech sector, particularly in emerging markets.

McNeil underscored the growth potential in the e-commerce sector within these markets, driven by high growth rates and an absence of state-owned enterprises. He pointed out specific ETFs like the EMQQ Emerging Markets Internet & Ecommerce UCITS ETF (EMQQ), which focuses on major market e-commerce, and discussed the significant gains of companies like Pinduoduo and Tencent.

McNeil also mentioned the Future Defense UCITS ETF (NATO), which has gained traction by capitalising on the rising importance of cybersecurity in global defence strategies.

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Ilika PLC CEO Graeme Purdy joined Proactive's Stephen Gunnion with details of a share placing and open offer to retail investors aimed at raising up to £3.4 million.

Purdy explained the capital injection is targeted at furthering the development of its Goliath technology. The company recently entered into a 12-month collaboration with Tata Group subsidiary Agratas to evaluate Goliath technology, during which Ilika intends to achieve its remaining milestones.

Additionally, Ilika plans to use the funds to upgrade its dry room facilities to handle moisture-sensitive materials more effectively. This involves lowering the dew points to reduce environmental humidity, crucial for its leading-edge battery development. The capital will also help in enhancing its testing facilities to accommodate larger battery sizes, which are necessary to meet increased power requirements and customer expectations.

Purdy highlighted key achievements including reaching the D4 development point and approaching the D8 milestone, which is set for Q1 2025. The advancements aim at achieving lithium-ion energy density parity and improving battery performance.

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In this week's episode of Crypto Roundup, Billy Farrington discusses the current state of bitcoin and the broader cryptocurrency market. Bitcoin experienced a significant drop early in the week, shedding several percentage points each day from Monday to Wednesday, before rebounding slightly with a 3% gain on Thursday.

Factors contributing to this volatility include a reduction in exchange-traded fund (ETF) inflows, which fell below $12 billion, and lower general trading volumes as confirmed by SEC data. Farrington attributes the mild recovery to weaker US economic indicators, particularly poor employment figures, which have negatively impacted the dollar, inadvertently benefiting bitcoin.

Furthermore, Farrington provides updates on the FTX's restructuring process following its collapse in November 2022. He reports a successful recovery of funds, with creditors not only set to receive their initial investments back but also additional compensation including interest. The restructuring has managed to secure between $14 to $16 billion, nearly double the owed amount, leaving a surplus after creditor repayment.

This situation is unusual compared to typical Chapter 11 outcomes and raises questions about the future allocation of the excess funds.

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The FTSE 100 edged slightly higher on Monday, keeping the positive run going which has seen the index break record highs multiple times in the last few months.

Fast fashion giant Shein provided some additional optimism to UK investors after reports revealed it was finishing off the final touches of its application for a London IPO. Valued last year at around £53 billion, the Chinese group has hired investment banks and lawyers in the City to prepare for one of Britain's largest listings in recent years.

Cambridge-based computer science firm Raspberry Pi also said it was interested in listing in London in the coming weeks, increasing hopes that the recent exodus of UK stocks is beginning to end.

Mission Group, the digital marketer, also added to the trend, after it rejected a takeover bid from fellow small-cap Brave Bison. Brave Bison offered 29.04p per Mission Group share, representing close to a 28% premium compared to its closing price last week.

Finally, in macro news, new data revealed wages have grown more over the last twelve months than in the previous 16 years. In real terms, earnings jumped by 2% in the year to February, bringing an end to a decade and a half when wages struggled to grow ahead of prices.

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OD6 Metals Ltd (ASX:OD6) managing director Brett Hazelden joins Proactive’s Jonathan Jackson to talk through significant progress at its Splinter Rock Rare Earth Elements (REE) Project in Western Australia. Phase 3 testing at the Australian Nuclear Science Organisation (ANSTO) achieved metallurgical recoveries up to 90% of magnet REEs (MREE) in multiple prospect areas. Hazelden highlights the project's comparability to prominent Brazilian clay-hosted rare earth sites, asserting Splinter Rock's status as Australia’s leading clay-hosted rare earth deposit.

The project yielded average recoveries around 60% MREE using 25g/l hydrochloric acid, with recoveries varying from 42% to 90% at the Centre Prospect, 44% to 76% at Inside Centre Prospect and 41% to 77% at Prop Prospect. These outcomes underline the potential economic viability of the project, driven by factors like low stripping ratios and acid consumption.

71 samples were selected across diverse clays, locations and depths to enhance the geometallurgical understanding of recovery across different regolith types. The samples varied in REE grades, chemical compositions, and geological settings, aiding in a comprehensive analysis of the deposit.

Further, Hazelden emphasises the strategic advantages of the project's location, including no private royalties, proximity to renewable energy sources and the major port of Esperance. The next steps include phase 4 metallurgical leaching and processing optimisation, with a planned mineral resource estimate update later this quarter.

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Intelligent Monitoring Group Ltd (ASX:IMB) managing director Dennison Hambling sits down with Proactive’s Jonathan Jackson to discuss updated financial expectations following the acquisition of ADT in August 2023.

Initially, IMG projected an underlying EBITDA of $29.8 million for FY24, reflecting 11 months of ADT ownership and an increase from FY23's $24.8 million. The company has now raised these estimates to $32-32.5 million for the FY24 underlying EBITDA and $33.5-34 million for the annualised figure.

Hambling expressed satisfaction with the company's progress, highlighting the transformation from a collection of small businesses into Australasia's largest security monitoring business.

With the integration of the nationally recognised ADT brand and the recent addition of Signature Security, IMG has significantly expanded its reach, serving more than 200,000 customers across the region. Hambling noted the importance of ongoing transitions, such as the switch from 3G to 4G networks in Australia and the commencement of the Sybersense rollout.

Hambling also discusses the binding sale and purchase agreement to acquire 100% of Adeva Home Solutions Pty Ltd. The acquisition is expected to add $9 million in revenue and $800,000 EBITDA to the IMG group in FY25, representing a purchase value of 2.8x pro forma FY24 Adeva EBITDA.

Looking forward, he anticipates FY25 to be a pivotal year, marked by optimism for IMG's future growth and development.

Latrobe Magnesium Ltd (ASX:LMG) CEO David Paterson joins Jonathan Jackson in the Proactive studio to discuss the successful commissioning of its Stage 1 Demonstration Plant, achieving a world-first by producing magnesium oxide (MgO) from brown coal fly ash. This milestone marks LMG as the only new magnesium producer in the western world since 2015, utilising a patented hydrometallurgical extraction/thermal reduction technology. This unique process not only converts nearly 100% of fly ash into five valuable by-products — magnesium oxide, supplementary cementitious material, silica, char, iron oxide and agricultural lime — but also does so with zero downstream waste or tailings.

LMG's sustainable production methods emit 60% less CO2 than the industry average, aligning with global efforts towards reduced carbon emissions. The process’s efficiency and sustainability are anticipated to substantially lower the operating costs of traditional magnesium and cement production. Following this initial success, LMG is preparing for a bankable feasibility study and financing discussions for its 10,000 tonnes per annum Stage 2 Commercial Plant, which is already fully contracted.

The MgO produced at the Demonstration Plant will be sold to Rainstorm Dust Control Pty Ltd under an MoU. Additionally, the technology's validation paves the way for forthcoming production of saleable magnesium metal. Paterson, expressed pride in this technological achievement and its significance on a global scale, emphasizing the dedication of LMG’s staff and contractors.

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Diversified Energy Company CEO Rusty Hutson Jr. joined Steve Darling from Proactive to announce that the company is on track with its expectations and is witnessing tangible outcomes. In the first quarter of 2024, the company recorded an average production of 723 MMcfepd, with an exit rate of 742 MMcfepd. Additionally, Diversified Energy achieved 1Q24 Adjusted EBITDA of $102 million and Free Cash Flow of $74 million. Notably, the company realized a 48% Adjusted EBITDA Margin and a TTM Free Cash Flow Yield of 31%. The prudent hedging program also yielded $22 million in gains on settled derivatives, contributing to a 28% uplift to Adjusted EBITDA.

Hutson expressed satisfaction with the solid operational and financial results, attributing them to the company's strategic focus on cost reduction opportunities. This focus translated into a notable 7% sequential quarterly operating cost improvement. Moreover, he announced the commencement of operations at the Black Bear processing facility, marking a strategic milestone for the company. This achievement underscores Diversified Energy's ability to leverage its in-house expertise to unlock value and generate meaningful cash flow. The Black Bear facility, integrated with the company's natural gas production, is expected to contribute approximately $9 million in additional margin creation annually. Furthermore, it offers potential upside through the processing of third-party gas and accretive bolt-on acquisitions in the Cotton Valley and Haynesville region.

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Light Science Technologies Holdings PLC (AIM:LST) Simon Deacon joined Proactive's Stephen Gunnion with details of its first distribution agreement for its nurturGROW lights with AgriLogiq Technical Systems. The partnership aims to enhance the South African agricultural sector by leveraging controlled environment agriculture technology, addressing challenges like extreme weather and pests.

Deacon highlighted the increasing difficulty of traditional farming in South Africa and how technology can improve yield in indoor environments. nurturGROW is a line of lighting solutions designed for various crops, offering enhanced yields and returns.

The agreement with AgriLogiq is set for five years, with potential extensions and opportunities for collaboration in other markets. Deacon outlined the company’s strategy to expand its distribution network, focusing initially on significant growth areas in South Africa, where the market is valued at $3.7 billion.

Plans for further expansion include New Zealand, Australia, the Middle East, and the Americas, with the controlled environment agriculture market in these regions representing a significant opportunity, evidenced by a quoted pipeline of over $50 million.

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