HANetf founder and co-CEO Hector McNeil tells Proactive's Stephen Gunnion about shifting trends in the exchange-traded fund (ETF) market in the United States, indicating a big move towards active management within ETFs.

Despite the European market lagging behind the US by three to five years, with a significant gap in market size—$2 trillion in Europe versus $8 trillion in the US—there is a notable increase in the proportion of active ETFs.

In the US, approximately 75% of new ETFs are active, issued by major firms and new players like Ark's Cathy Wood, marking a significant growth area. This shift towards active ETFs is also reflected in the flow of investments, with active ETFs accounting for 25% of the flows over the last 18 months.

McNeil highlighted the evolution of ETFs from passive instruments to including smart beta and now fully active management, especially within the fixed income sector. The trend towards transparency, despite initial concerns, has become more accepted, leading to increased interest from asset managers in active ETFs. He said HANetf's white label ETF service has seen a rise in enquiries from active managers, indicating a broader acceptance and integration of active strategies within the ETF framework.

Examples of strategies for these new active ETFs range from global equity with specific screens, like Shariah compliance, to niche areas such as convertible bonds and thematic investments. The discussion also touched on defined outcome ETFs and options-based strategies, showcasing the diversity and innovation within the ETF space.

McNeil argues that ETFs offer advantages over mutual funds in terms of technology, liquidity, and access, suggesting a continued shift towards ETFs for a variety of investment strategies.

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Awale Resources Ltd (TSX-V:ARIC) CEO Andrew Chubb shares positive assay results from follow-up drilling at the new gold-copper discovery at the BBM Target within the Odienné Project in Côte d'Ivoire with Proactive's Stephen Gunnion.

Initially discovered in January with four initial drill holes spaced 500 metres apart, subsequent drilling improved results, tracking down a plunge with broader intercepts. The most notable result was 75 metres at 2.4 grams per tonne equivalent, among other similarly promising findings. The company now plans to pursue further drilling to explore the shear zone-hosted target's potential, aiming to scope out grade and geology continuity in preparation for resource drilling later in the year at BBM, as well as the Charger and Sceptre targets, promising an exciting year ahead.

In addition to BBM, 4,000 metres were drilled in the current programme, with results from Charger and Sceptre pending. Chubb announced a significant drilling plan of 25,000 metres for the year, which will focus on both advancing current discoveries and exploring new targets. This ambitious drilling programme is fully funded by Awalé's joint venture partner, Newmont, allowing the company to progress without needing to raise additional funds from the market.

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#invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews

Immunic Inc (NASDAQ:IMUX) Chief Medical Officer Dr Andreas Muehler discusses the complexities of multiple sclerosis (MS) during an interview with Proactive's Stephen Gunnion to mark MS Awareness Month, highlighting the disease's impact, development, and the unmet medical needs of patients.

MS, a lifelong autoimmune disease more prevalent in women than men, begins typically in early adulthood. It manifests in various forms, starting with relapsing-remitting MS, characterized by relapses and MRI lesions, affecting 80-85% of patients.

Another form, primary progressive MS, occurs in 10-15% of patients, starting with a progressive phase without typical relapses. As the disease advances, Muehler explained that it transitions into secondary progressive MS, marked by a decrease in relapses but an increase in disability, which is a significant concern for patients. Despite the availability of treatments focusing on inflammation, there remains a significant gap in addressing the disability progression, a key area of concern for patients.

Muehler introduced Immunic Inc's approach to tackling MS through their drug, vidofludimus calcium (IMU-838), which possesses dual mechanisms: anti-inflammatory and neuroprotective. The neuroprotective aspect, in particular, is believed to address the critical unmet need of slowing disability progression by protecting neurons. This differentiation, especially in progressive MS where current therapies fall short, positions vidofludimus calcium as a promising candidate in the MS treatment landscape.

Clinical trials for vidofludimus calcium are underway, with a notable Phase 2 study, CALLIPER, fully enrolled and expected to read out in April 2025. Additionally, Phase 3 studies in relapsing MS are actively recruiting, with outcomes anticipated in 2026. These developments are keenly awaited by the medical community and potential partners, given the drug's potential to significantly impact MS treatment, particularly for forms of the disease currently lacking effective therapies.

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Valeo Pharma CEO Steve Saviuk joined Steve Darling from Proactive to discuss the company's financial results for the first quarter ended January 31, 2024. Valeo Pharma reported revenues of $13.5 million in Q1-24, compared to $13.1 million in Q1-23 and $13.1 million in Q4-23, representing a 3% increase. The company recorded an adjusted gross profit of $3.9 million in Q1-24, similar to the figure in Q1-23, and a significant increase from $2.1 million in Q4-23, marking an 81% rise.

Saviuk told Proactive the number of prescribing physicians for Valeo Pharma's Enerzair and Atectura reached 3,472 by the end of Q1-24, reflecting a notable 17% growth for the quarter and a remarkable 119% increase year-over-year. Saviuk expressed confidence that Valeo Pharma's major promoted brands, including Enerzair, Simbrinza, and Redesca, will contribute increasingly to revenue growth in the upcoming quarters, accompanied by greater margin contribution.

Valeo Pharma has initiated several measures aimed at achieving positive cash flow, with operational cost savings expected to have a more significant impact from Q2-24 onwards.

These results indicate a positive trajectory for Valeo Pharma, driven by robust revenue performance, expanding physician adoption of key products, and strategic initiatives aimed at enhancing profitability and cash flow generation.

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Calinex Mines CEO Max Porterfield joined Steve Darling from Proactive to share preliminary results from the geophysical survey conducted at the Pine Bay Project in the Flin Flon Mining District of Manitoba. The survey aims to enhance Callinex's extensive geophysical data set, supporting exploration efforts focused on expanding high-grade copper, gold, silver, and zinc-rich Volcanogenic Massive Sulphide (VMS) deposits at the Project.

The project includes several high-grade copper deposits, with the Rainbow deposit and the adjacent Pine Bay deposit being the most notable. These two resources combined nearly amount to 6 million tonnes of high-grade copper. The Rainbow deposit, in particular, has an indicated category grading 3.65% copper equivalent, significantly higher than the global average mine grade of less than half a percent. This highlights the project's potential in a region with a rich mining history, existing infrastructure, and a need for new discoveries following the closure of the flagship mine a year and a half ago.

Porterfield disclosed that the preliminary results from the Magnetotelluric (MT) survey over Pine Bay are promising. The MT survey, a geophysical tool used in mineral exploration, is instrumental in identifying conductive minerals like copper, gold, and silver, as well as mapping geologic structures such as faults and folds. The survey, covering a 1km line, has provided valuable insights into the known Pine Bay deposit and its associated horizon/structure hosting mineralization. Additionally, it has revealed a substantial low resistivity target at depth, potentially representing the fold limb of the recently discovered Descendent deposit.

These preliminary findings underscore the potential for further exploration success at the Pine Bay Project, reaffirming Callinex Mines' commitment to maximizing the value of its mineral assets through systematic and innovative exploration

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Frontier IP Group PLC (AIM:FIPP) CEO Neil Crabb discusses the company's interim results in an interview with Proactive's Stephen Gunnion, highlighting a return to profitability and a good performance despite challenging market conditions.

The firm reported a profit of £1.4 million in the first half, attributed to the rising value of its portfolio, primarily driven by external fundings. Additionally, the company successfully exited its investment in CNT, realising a substantial return of approximately £14 million from an initial book cost of less than £2,000, demonstrating the potential of its model for long-term shareholder value.

The interview also covered the potential IPO of Alusid, a company focused on producing green tiles from recycled materials, indicating significant commercial traction and partnerships, including with Starbucks. This development is seen as pivotal for Alusid's growth and potential market readiness.

Furthermore, Crabb outlined the progress and prospects of other portfolio companies, including significant investments in companies like Camgraphic, focused on enhancing photonic performance using graphene, and Pulsiv, which is innovating in power conversion technology. These developments are aimed at addressing the increasing demand for more efficient and scalable technologies across various sectors.

Despite the expectation of continued market difficulties, Crabb believes Frontier IP's focus on innovation, cost reduction, and scalability, particularly in manufacturing, positions the company well for future growth. The portfolio's strategy involves leveraging existing infrastructure to expedite market scaling, which is seen as an advantage in the current economic climate.

#FrontierIP #Innovation #Profitability #TechInvestment #GreenTechnology #Photonics #PowerConversion #ScalableSolutions #MarketReadiness #IPO #ProactiveInvestors #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews

NextEnergy Capital Investment Director and UK Legal Counsel Stephen Rosser joins Proactive's Stephen Gunnion with details of NextEnergy Solar Fund's first two international solar co-investments in collaboration with NextPower III ESG (NPIII ESG).

Rosser oversees the daily operations of the NextEnergy Solar Fund Ltd (LSE:NESF), a part of the FTSE 250 index, working closely with the CEO, CIO, and the investment committee.

NextEnergy Capital recently announced the energisation of two solar farms in Europe, adding to the NextEnergy Solar Fund's installed capacity, now totalling 979 megawatts (MW). These farms are located in Santarém, Portugal (210MW) and Cadiz, Spain (50MW), marking a significant step in diversifying revenues and enhancing the fund's installed capacity.

The fund owns a 6.21% stake in Next Power III ESG, a private firm focusing on international solar infrastructure, offering diversification and exposure to growth in international solar markets without fees.

Rosser said NextEnergy Solar Fund is poised for further growth, with the impending operation of its largest grid-scale battery in Scotland, anticipated to push its installed capacity over one gigawatt.

This milestone will make it the first specialist solar and storage fund to achieve such a feat.

Despite trading at a discount to its net asset value, he pointed out that the fund offers one of the highest dividend yields in its peer group, supported by a large portfolio of operational assets.

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Faron Pharmaceuticals Limited (AIM:FARN) chief executive Dr Markku Jalkanen joins Proactive's Stephen Gunnion with additional positive data from the Phase 1 study of the ongoing bexmarilimab (BEXMAB) trial that has moved into Phase 2 for higher-risk (HR) myelodysplastic syndrome (MDS) patients failed on previous hypomethylating agent (HMA).

Dr Jalkanen said the study demonstrated promising results in reducing cancer cells and extending life expectancy in patients. He highlighted the durability and effectiveness of the treatment, particularly in patients with a severe form of myeloid leukemia called MDS, where current treatment options are limited.

Dr Jalkanen said the Phase 1 results showed a high overall response rate and an extended overall survival rate among patients, which could lead to a new treatment option for an underserved patient population. He emphasized the importance of continuing the study and engaging with regulators to bring the treatment to market as swiftly as possible. He also noted the potential for increased interest from other pharmaceutical companies based on the positive data released.

Faron Pharmaceuticals has moved to the Phase 2 part of the study, focusing on finalising dosing and drug levels as per FDA guidance. The goal is to establish a clear pathway to market approval.

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Celsius Resources Ltd (ASX:CLA, AIM:CLA) managing director Peter Hume tells Proactive's Stephen Gunnion the company has achieved a significant milestone by being granted a mining permit for the MCB project, marking a pivotal transition from exploration to mineral resource development.

This permit, valid for 25 years and renewable for a further 25, encompasses extensive exploration and development rights within the project area. The MCB project is located in the Philippines and is known for its high-grade copper porphyry, boasting an estimated resource of 300 million tonnes at an average grade of over 1% copper, alongside gold, for the first ten years of mining.

The project is set to implement sustainable mining practices, including a paste and hydraulic backfill and dry stacking methodology, due to its lack of acid mine drainage. The permit also delineates responsibilities for sustainable development and environmental, social, and governance (ESG) aspects.

Following the permit's issuance, Hume said Celsius Resources will focus on compliance activities, securing financing from interested parties previously awaiting permit approval, and proceeding with detailed project planning and further permitting for construction activities.

Hume also discussed the promising outlook for copper prices, influenced by global environmental initiatives, forecasting a price range between $13,000 to $15,000 per tonne, though with a cautious perspective on the upper limits of market predictions.

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The FTSE 100 edged higher as the markets opened, with investors bracing for a busy week of macro news.

On Wednesday, inflation data will be released, before the Bank of England meets on Thursday to decide whether to maintain interest rates at 5.25% or drop them for the first time since August 2023.

In company news, Aviva announced the sale of its Singapore Life stake for £937 million as it continues to streamline its focus towards Irish, British and Canadian markets.

Additionally, Pfizer has confirmed plans to sell part of its stake in Haleon, reducing its holding from 32% to 24% in a sale which is expected to generate around £2 billion.

Early risers include Reckitt Benckiser, which was up following a sharp fall on Friday after it was ordered to pay US$60 million in damages as part of a baby formula case.

#proactiveinvestors #marketreport #ftse #ftse100 #footsie #inflation #boe #aviva #SingaporeLife #Pfizer #ReckittBenckiser #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews