Proactive - Interviews for investors

Finseta CEO James Hickman tells Proactive's Stephen Gunnion the company experienced a transformative year in 2023 as it doubled of revenue and reported a pretax profit of £1.3 million, a significant recovery from a previous loss.

Hickman attributed the improvement to a strategic refocus on enhancing the sales pipeline, expanding the payments network, and refining the product and geographical reach. Key strategic changes included shifting from indirect to direct client interactions, which increased the proportion of revenue from direct clients from 78% in 2022 to 95% in 2023. This shift also resulted in margin improvements and an increase in the average transaction value as the company began serving not only small businesses but also medium-sized businesses and high-net-worth individuals.

The company also underwent a rebranding from Cornerstone PLC to Finseta, aimed at differentiating itself in a crowded market and reflecting its evolved business strategy and ethos.

Furthermore, Finseta expanded its international presence, partnering with best-of-breed payment companies and banks to enhance its service offerings globally. Noteworthy developments included a new corporate card scheme with Mastercard and the approval to provide payment services in Canada, emphasizing Finseta's commitment to geographical and service expansion in its operations.

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Telomir Pharmaceuticals Co-Founder Frank O’Donnell joined Steve Darling from Proactive to share what the company believe is groundbreaking potential of their new drug designed to extend telomeres, which could reverse aging and age-related diseases. During a recent interview, O'Donnell elaborated on the drug’s potential, supported by extensive research in mice and successful trials in larger animals like a German shepherd.

Drawing from his background in ophthalmology at Johns Hopkins, O'Donnell explained that the drug is developed to fight conditions such as macular degeneration by manipulating telomeres—protective caps on chromosomes that degrade over time. This innovative approach has shifted the company's focus from merely prolonging life to actively reversing signs of aging.

O'Donnell also touched on the drug’s promising implications for veterinary medicine, particularly its potential benefits for older dogs suffering from osteoarthritis. Upcoming studies on dogs are planned to further prove the drug's effectiveness before moving to human clinical trials slated to begin in January 2025.

Emphasizing the drug's transformative capabilities, O'Donnell spoke of its potential global impact by rejuvenating biological clocks and enhancing overall health. Currently, Telomir Pharmaceuticals is not seeking additional funding, opting instead to focus on advancing their research and commencing significant clinical trials.

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North Bay Resources CEO Jared Lazerson joined Steve Darling from Proactive to announce the successful completion of the initial power-up and testing phase for the equipment at the Bishop Gold Mill. The tested equipment includes a jaw crusher, ball mill, shaker table, flotation tanks, as well as the associated conveyors and ancillary equipment. All components powered up successfully and are confirmed to be in excellent working order.

During the conversation, Lazerson noted that the ball mill bushings are set to be replaced soon to ensure continuous operation. Although the mill was permitted for operation starting in 2019, it has remained inactive until now, resulting in very low operational hours for the equipment which remains in nearly new condition. This includes all wiring, plumbing, and associated fixtures in the mill building and the tailings pond.

Furthermore, the company is currently in negotiations to secure feedstock for the mill. They have targeted an initial purchase of 10,000 tons of ore, grading one ounce of gold per ton, which would provide approximately three months of feedstock. This acquisition is projected to yield about 8,500 ounces of gold, assuming an 85% recovery rate, which could potentially generate $20 million in gold revenue at current market prices.

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Norsk Titanium Vice President, Commercial Nick Mayer joined Steve Darling from Proactive to announce a significant agreement with The Boeing Company, marking a milestone in the company's aerospace-grade structural titanium components manufacturing.

Mayer revealed that Norsk Titanium has signed a substantial agreement to directly supply parts to Boeing, solidifying a direct supplier relationship between the two entities. This agreement positions Norsk Titanium as a Tier-1 supplier within Boeing's procurement system, allowing for direct deliveries to Boeing later this year. The deal is expected to provide hundreds of structural components to Boeing through 2025.

In addition to the Boeing agreement, Norsk Titanium has recently secured a Master Supply Agreement with Airbus Aerostructures, underscoring its expansion strategy.

The company's operational and financial update reflects promising growth, with 21 parts in serial production across multiple customers, resulting in annual recurring revenue of approximately US$6 million. Anticipated expansions are forecasted to elevate revenue to US$50 million by the end of 2024, laying the foundation for a longer-term revenue target of US$150 million by 2026.

To support its growth initiatives, Norsk Titanium has successfully completed a private placement of $25 million in an oversubscribed process, providing additional capital for expansion and development.

With these significant milestones and robust growth projections, Norsk Titanium is poised for continued success and leadership in the aerospace industry.

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Gold Basin Resources CEO Colin Smith joined Steve Darling from Proactive to announce the signing of a property option agreement with Iconic Minerals, granting Gold Basin Resources a 50% interest in the New Pass gold property located in Nevada. This agreement encompasses 107 unpatented mineral claims.

Smith elaborated on the significance of the New Pass property, noting its hosting of the Carlin-type New Pass Gold-Silver deposit. The property boasts a historical Inferred Mineral Resource of 341,750 ounces of gold equivalent, with separate estimates for gold and silver. Notably, 75% of the deposit is oxidized, making it amenable to heap leaching, as demonstrated by previous metallurgical testwork. With mineralization open in all directions, there is substantial potential for resource expansion and conversion.

Situated within Nevada's prolific Sulfur-Lovestock-Austin structural gold trend, New Pass is strategically located just 75 kilometers south-southwest of the past-producing McCoy-Cove Mine, which is set to resume production under i-80 Gold Corp. Furthermore, the property benefits from an active Plan of Operations, permitting up to 25 acres of exploration-associated allowable disturbance.

Smith outlined the company's plans to swiftly advance the New Pass asset in tandem with its Gold Basin Project, with a focus on conducting on-the-ground exploration activities to unlock the property's full potential.

With the acquisition of the New Pass gold property, Gold Basin Resources is well-positioned to capitalize on the opportunities presented by Nevada's renowned gold-rich geological terrain and contribute to its growing portfolio of valuable mineral assets.

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EDM Resources CEO Mark Haywood joined Steve Darling from Proactive to provide an update on substantial progress the company has made regarding environmental compliance critical for the Scotia Mine's restart. The company has effectively completed three of the required four seasonal samplings of Atlantic Salmon DNA, following guidelines set by the Department of Fisheries and Oceans (DFO). Alongside these efforts, the team is conducting thorough reconnaissance to pinpoint additional potential sites for the necessary stream and river restoration. This initiative is a cornerstone of the comprehensive fish habitat offsetting strategy demanded by the DFO.

During the discussion, Haywood highlighted findings from the winter season DNA tests which confirmed the absence of Atlantic Salmon in the vicinity of the Scotia Mine, a result that aligns with the company’s environmental goals and augurs well for the mine’s prospective operations. Haywood expressed optimism for similar outcomes from the forthcoming final season of testing, anticipated to further bolster the case for the mine’s operational reboot.

Moreover, EDM is making strides in adhering to the DFO’s specific requirements through detailed environmental studies and the implementation of restoration projects designed to mitigate any adverse effects on fish habitats due to future mining activities at the site. These proactive environmental measures underline EDM’s commitment to sustainability and responsible mining practices. The conclusion of the last testing phase is expected in May 2024, which will mark a significant milestone towards achieving environmental and operational readiness for the Scotia Mine.

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Pineapple Financial CEO Shubha Dasgupts joined Steve Darling from Proactive to announce the launch of a groundbreaking deal management system expected to propel the company's growth further. The unveiling coincides with the release of Pineapple Financial's second-quarter fiscal results for 2024, highlighting significant revenue growth and strategic expansions.

The centerpiece of Pineapple Financial's growth strategy is PineappleONE, a first-of-its-kind platform designed to revolutionize broker operations in the mortgage market. PineappleONE streamlines the entire deal process, from origination to submission, providing brokers with a comprehensive view of mortgage deal details in a single interface. The system automates time-consuming tasks such as generating lender-specific notes and assembling document packages, empowering brokers to focus on client interactions and business expansion. Notably, PineappleONE is adaptive, evolving with broker behavior, recognizing preferences, and learning from actions to enhance efficiency continuously.

Developed by Pineapple's award-winning technology team, PineappleONE is poised to drive revenue growth through accelerated deal submissions and improved acceptance rates.

Dasgupts highlighted Pineapple Financial's strong second-quarter performance, with a remarkable 59.04% year-over-year increase in revenue to $784,869. Residential mortgage loans also grew by 17.6% during the same period, reaching $314.963 million. Despite a 33.3% increase in selling, general, and administrative expenses attributed to expansion and traveling costs, the company managed to reduce its net loss by 4% to $657,456 compared to the second quarter of 2023.

Pineapple Financial reported a robust cash position of $1,339,618 as of February 29, 2024, reflecting an increase of $159,642 compared to the previous year.

Furthermore, Pineapple Financial expanded its operations by opening offices in metro Vancouver, Ottawa, Winnipeg, and Alberta during the quarter. Additionally, the company enhanced its service offerings with an improved online mortgage application for brokers and custom advertising banner management software aimed at enhancing lead conversion.

With PineappleONE's launch and strong fiscal performance, Pineapple Financial is well-positioned for continued growth and innovation in the mortgage market, solidifying its position as a leader in the industry.

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PainReform CEO Ilan Hadar joined Steve Darling from Proactive to discuss the company at the forefront of addressing the opioid crisis in the United States, is developing PRF-110, an innovative post-operative pain treatment designed as an alternative to traditional opioids. PRF-110 is applied directly by surgeons during procedures, offering patients up to 72 hours of continuous pain relief, potentially eliminating the need for additional pain medications post-surgery.

The company is currently advancing a Phase III study in Texas to evaluate the effectiveness and safety of PRF-110. The study, which began in October 2023, has already seen significant progress with more than 50% of the target 400 patients enrolled. Completion of patient enrollment is expected by mid-year, and the study results are anticipated in the third quarter of the same year. A successful outcome from this study could pave the way for another Phase III trial focusing on soft tissue applications, slated to start in early 2025, with results expected by 2026.

Should the upcoming trials confirm PRF-110’s efficacy and safety, PainReform plans to submit a New Drug Application in 2026. The company recognizes the significant market potential for non-opioid post-operative pain treatments, an area currently underexplored, and is positioning PRF-110 as a key player in transforming pain management practices post-surgery.

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Aclara Resources Inc (TSX:ARA, OTC:ARAAF) chief operating officer Barry Murphy joined Proactive's Stephen Gunnion with news that the company has contracted global multidisciplinary consultancy firm Hatch to complete the prefeasibility study (PFS) for the Carina Module rare earths project in Brazil.

Murphy cited Hatch's extensive experience and good fit with Aclara's team as the primary reasons for the choice. The pre-feasibility study, a crucial step following the issuance of a preliminary economic assessment earlier this year, will focus on various trade-offs concerning the availability of resources like power and water.

The study is expected to conclude around mid-next year, after which Aclara plans to transition to a feasibility study. The pre-feasibility study results will not be made public as Aclara aims to expedite the process towards the feasibility phase.

Following the completion of the feasibility study, Aclara anticipates releasing a NI 43-101 compliant technical report by mid-2026.

In the short term, Murphy said Aclara is preparing to issue updates following a new drilling campaign that expanded the resource at depth. Further, the company plans to relocate its pilot plant from Chile to Brazil to facilitate tests relevant to the project's pre-feasibility phase.

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Silver Range Resources CEO Mike Power joined Steve Darling from Proactive to unveil the outcomes of the company's exploration activities at the Silver Mountain Property located in Nevada. The exploration efforts encompassed geological mapping, sampling, and an orientation geochemical survey program at the Hidden Gulch showing on the property.

Power elaborated on the findings, highlighting significant results from both underground and surface sampling efforts. Underground chip sampling within the Silver Bowl Mine revealed notable grades, with results including up to 0.6 meters at 1,415 grams per tonne (g/t) silver and 0.48% copper. Surface chip sampling also yielded promising results, with up to 0.4 meters at 1,245 g/t silver from a vein exposed in a pit near the southern end of the principal structure.

Furthermore, geological mapping identified a 250-meter-long steeply west-dipping normal fault within a 370-meter-long structural corridor hosting high-grade silver mineralization. Additionally, an east-dipping antithetic fault, parallel to the main fault in its hanging wall, was identified west of the principal fault. Sampling across one of these antithetic veins returned 0.65 meters at 546 g/t silver. Previously reported grab sampling along this structure returned grades of up to 3,270 g/t silver.

These exploration results underscore the potential of the Silver Mountain Property, demonstrating the presence of high-grade silver mineralization within the structural corridors identified through geological mapping and sampling efforts. Silver Range Resources remains committed to advancing exploration activities at the property to further delineate and evaluate its mineralization potential.

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