Proactive - Interviews for investors

Wishpond Technologies CEO Ali Tajskandar and CFO David Pais joined Steve Darling from Proactive to present the company’s financial achievements for the fiscal year ended December 31st, 2023. The company reported record annual revenue of $23.1 million for fiscal year 2023, marking a 13% increase compared to fiscal year 2022. In Q4-2023, Wishpond achieved revenue of $6.1 million, representing an annualized revenue run-rate of over $24 million. This growth was primarily driven by sales of the company's next-generation marketing platform, Propel IQ.

Additionally, Wishpond achieved Adjusted EBITDA of $0.8 million in fiscal year 2023, marking the sixth consecutive quarter of positive Adjusted EBITDA. The company expects to further accelerate its growth in 2024, driven by increased Propel IQ sales and the launch of SalesCloser AI, a virtual AI sales agent capable of conducting sales calls and demos in multiple languages with minimal human intervention.

Looking ahead, Wishpond anticipates an improvement in its cash position in 2024 as revenue continues to grow and the company has fulfilled all earn-outs related to prior acquisitions. The company expresses confidence in its ability to fund future growth through cash flow from operations and its $6 million credit facility, with additional financing only necessary for executing acquisition opportunities.

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Europa Oil & Gas (Holdings) PLC (AIM:EOG) chief executive William Holland discusses an updated emissions study for its envisaged Irish offshore gas project in an interview with Proactive's Stephen Gunnion.

Holland said the third-party report reassesses the emissions from the Inishkea West prospect. The report was necessary due to changes in the prospect's estimated size and its geographical adjustments, which suggest improved gas recovery efficiency and reduced well numbers needed for development.

The study compares the emissions from Inishkea West gas, found to be significantly lower than both domestically produced and imported gas currently used in Ireland. Specifically, Inishkea West gas would produce 2.8 kilograms of CO2 equivalent per barrel, much less than the 36 kilograms from imported UK gas and even lower than Ireland’s existing domestic production. This positions Inishkea West as a potentially major contributor to Ireland’s energy security, capable of satisfying nearly all of the country’s domestic gas demand for three years and significantly reducing reliance on higher-emission imports.

Furthermore, Holland outlined the next steps for the project, including securing a partnership for further development. He emphasised the economic benefits expected from the project, including substantial tax contributions to the Irish government and local job creation.

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Union Jack Oil PLC (AIM:UJO, OTCQB:UJOGF) newly-appointed independent non-executive director Craig Howie shares his extensive background in the natural resources sector, notably oil and gas, which began with his role at KPMG corporate finance in Aberdeen during the early to mid-2000s.

In an interview with Proactive's Stephen Gunnion, Howie said the decision to join Union Jack Oil’s board stems from a long-standing relationship with the company and its executive chairman, David Brown Hill, which predates the company's flotation by Shore Capital in 2013.

As an independent non-executive director, Howie views his role as contributing strong financial and sector-specific expertise, particularly useful as he will serve as chairman of the audit committee.

He highlighted the company’s established operations, such as the Wressle field in North Lincolnshire, and discussed Union Jack Oil’s recent strategic moves, like the drilling at Andrews 1 well in the United States and the company's trading commencement on the OTCQB market.

These steps, according to Howie, are part of broader plans for aggressive expansion in the US, aiming to leverage new drilling opportunities and enhance investor awareness and liquidity in the company’s shares.

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Helix Exploration PLC CEO Bo Sears tells Proactive's Stephen Gunnion the company successfully secured a drilling rig from Treasure State Drilling for its upcoming appraisal drilling campaign at the Ingomar Dome project in Montana.

Sears highlighted the importance of this acquisition, as rig availability often poses significant challenges for operators. The Cardwell KB-150 D1D drilling rig is suited for drilling to depths of more than 8,000 feet, aligning with the project's requirements.

In addition, Sears discussed the expertise of the Treasure State Drilling team, led by Well Stenger, who has two decades of experience with this particular rig. The recent partnership with contract drilling engineers Petroleum Consultants further strengthens Helix Exploration's readiness for the third quarter drilling campaign, he added. This collaboration aims to manage all aspects of the drilling process and logistics effectively, ensuring adherence to a strict timeline.

Preparations for the campaign also include typical oil and gas preparations such as legal documentation, site development, and securing water supply.

Sears also advised investors to watch for further developments as the project progresses towards commencement. This strategic preparation positions Helix Exploration to leverage its resources effectively as it approaches a critical phase of its operations.

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The FTSE 100 soared to a record intraday of 8,070 as the market opened after closing at an all-time high on a strong performance yesterday.

Fuelling gains early on was Primark owner ABF, which soared after unveiling bumper interim results where stronger margins took pre-tax profits 37% higher to £881 million.

JD Sports was also rising, having announced the proposed US$1.1 billion takeover of US retailer Hibbet amid plans to expand further across the Atlantic.

THG gained on news revenue growth had continued to accelerate over the first quarter, following several major turnaround initiatives taken in recent years.

And finally, Taylor Wimpey offered up some positive commentary for the UK housing market in the meantime, noting welcome ‘stability’ despite lower sales as the spring selling season got underway.

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Condor Resources CEO Chris Buncic joined Steve Darling from Proactive to announce his appointment as the Company’s new President and CEO. Buncic brings over 24 years of experience in the mining industry and capital markets to his new role. He most recently served as the co-founder and CEO of Alto Verde Copper Inc., where he focused on copper assets in Chile before the company was acquired by Interra Copper Corp. Previously, Buncic held the position of President and CEO at Ascendant Resources Inc., where he played a key role in restoring profitability to the El Mochito mine in Honduras and advancing exploration efforts at the Lagoa Salgada project in Portugal.

In addition to the leadership transition, Buncic also discussed the company's project generator model, their strong community relations, and the recent developments in their Peru project. Buncic shared encouraging assay results from Condor Resources' maiden diamond drill program at the Pucamayo East project in Peru. The program, which concluded in December, involved drilling 2,353 meters in nine diamond drill holes, targeting a 600m by 900 meters area within the four-square kilometer advanced argillic alteration zone on the property.

The drill program identified a substantial mineralized and altered area with locally elevated precious and base metals, with some of the best values encountered near the surface. Significant intercepts included both long intervals of low-grade precious and base metal mineralization, as well as local high-grade structures, such as 18.96 g/t AuEq over 2.0 meters. Despite testing only a small part of the Pucamayo property, the company is optimistic about the potential of the area, which appears to be part of a much larger mineralized system.

With Buncic at the helm, Condor Resources is poised to continue its exploration and development efforts, leveraging his extensive experience and leadership in the mining industry to drive the company's growth and success.

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Orcadian Energy CEO Steve Brown tells Proactive's Stephen Gunnion the company has realised its "dream deal" with farm-out of an 81.25% interest in licence P2244, which contains the Pilot oilfield, to Ping Petroleum UK plc. Ping is focused on shallow water offshore production and development opportunities and has a significant acreage holding to the East of Pilot.

Speaking to Proactive's Stephen Gunnion, Brown said Orcadian has introduced a polymer flood development plan aimed at improving oil recovery from the viscous oil in the Pilot field, discovered in 1989. This method involves using polymer to enhance the viscosity of water, creating a more stable flood front and significantly reducing fluid handling requirements.

Additionally, Orcadian Energy has implemented green technologies to minimise CO2 emissions, including plans to integrate renewable energy sources like wind turbines into their operations.

It will retain an 18.75% stake in the Pilot field with no immediate capital commitments until production begins.

Looking ahead, the immediate focus is selecting an FPSO (Floating Production Storage and Offloading) vessel, essential for detailed development and environmental plans.

Brown said the company also secured two new licences in the 33rd licensing round and awaits approval for a third. These developments could significantly enhance Orcadian's asset portfolio and contribute to energy security by expediting production from potential gas fields.

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Adriatic Metals PLC (LSE:ADT1, ASX:ADT, OTCQX:ADMLF) chief executive Paul Cronin tells Proactive's Stephen Gunnion the company has commenced the transition process to take over as the mining operator as it boosts productivity and sustainability at the Rupice Mine in Bosnia & and Herzegovina.

Following an Accelerated Development Action Plan (ADAP), Cronin said is taking operational control over the mine from Nova Mining and Construction, after acquiring equipment and inventory worth approximately $11 million. This strategic shift allows Adriatic Metals to directly manage and develop its local workforce and optimise cost by integrating local suppliers into its supply chain.

Additionally, the company has implemented new technologies and enhanced health and safety measures under the ADAP, aiming at reducing operational incidents and environmental impacts.

To support these changes, Adriatic Metals has secured a $25 million short-term loan facility from Orion Mining Fund for additional working capital. These steps are part of a broader effort to improve efficiency and position the mine as a catalyst for local economic development.

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ANGLE PLC chief executive Andrew Newland discussed significant advancements in the company's technology, including a European patent for the CellKeep slide, with US intellectual property protection from the US set to follow soon.

Newland told Proactive's Stephen Gunnion that CellKeep significantly improves the deposition of cancer cells on microscope slides, a common issue in medical laboratories. This method notably reduces cell loss during the transfer process by over 70%, addressing a longstanding problem in the industry. The innovation involves a special funnel attached to the slide, allowing gentle centrifugation and liquid removal while maintaining cell integrity, thereby increasing the effectiveness of subsequent analyses.

Additionally, Newland highlighted the development of optimized antibodies for cell phenotyping, which are integrated into ANGLE's Parsortix system. This integration is packaged as the Portrait Plus CTC Staining Kit, simplifying the process for less experienced labs and extending market reach. The kit includes a mix of dehydrated antibodies, designed for ease of use and long shelf life, enhancing the diagnostic process's reliability and efficiency.

Commercially, ANGLE has introduced these innovations in a comprehensive kit format, priced at £3,000 for ten samples, significantly enhancing the company’s value offering.

Newland also touched on ANGLE’s positive business trajectory, mentioning a breakthrough in DNA profiling and a substantial contract with a major pharmaceutical company, which could potentially yield significant revenues through the development of companion diagnostics.

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GoviEx Uranium Inc CEO Daniel Major spoke to Proactive's Stephen Gunnion about discussions the company is having with the Government of the Republic of Niger regarding its mining operations after receiving notice it must start mining at its Madaouela uranium project by July 3, 2024.

If the company fails to start mining by that date, there is a risk its mining permit will be revoked.

Major said GoviEx is committed to developing the project and working with the Nigerien government to do so in a way that upholds the relevant laws and protects its rights.

He outlined GoviEx’s strategies to safeguard its legal rights while aiming for the best outcomes for stakeholders, including investors and local communities.

Major also provided an update on the company's project in Zambia, from continued drilling to progress in feasibility studies, reflecting the project’s steady advancement.

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