Proactive - Interviews for investors

The FTSE 100 climbed as the markets reopened following the long weekend.

Fuelling gains was news UK shop price inflation hit a more than three-year low of 1.3% in March, against 2.5% in February, as per figures from the British Retail Consortium.

Data from Nationwide showed house prices had continued to fall in some areas of England over the first quarter meanwhile, but were up 0.4% across the board.

Among companies, Revolution Bars’ woes continued as the chain said shares would be suspended from London’s junior market after it failed to publish an interim report on time.

And finally, Google announced hundreds of billions of records would be destroyed in a bid to settle claims it collected user data, despite assuring it wouldn’t, while they browsed on Chrome’s private mode.

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Euro Manganese Inc President and CEO Dr Matthew James tells Proactive's Stephen Gunnion that the battery materials company has achieved a key milestone at its Chvaletice Manganese Project after receiving approval for its Environmental and Social Impact Assessment from the Czech Ministry of Environment.

James told Proactive the Czech project involves remediating historical mine tailings from a previous pyrite mine, containing significant manganese deposits. The company also owns land directly opposite the tailings area for a processing plant.

The Chvaletice Manganese Project is unique for its high-purity manganese, essential for electric vehicle batteries, particularly in NMC (nickel-manganese-cobalt) batteries.

James explained that the project's manganese is crucial for the energy transition, boasting strong Environmental, Social, and Governance (ESG) credentials, including a carbon footprint one-third that of the industry standard in China. A completed Definitive Feasibility Study (DFS) in July 2022 estimated the project's net present value at approximately US$1.3 billion.

The European Bank for Reconstruction and Development (EBRD) is the company's second-largest shareholder, highlighting significant European support alongside the European Investment Bank (EIB), which has approved the project for appraisal. Financial strategies include a proposed 65% gearing, with funding expected from both the EIB and the EBRD. Additionally, a financing package from Orion Resource Partners provides non-dilutive funding to shareholders.

The company is also developing an early-stage project in Quebec, positioning itself within a growing battery materials hub. This project aims to produce IRA-compliant high-purity manganese sulphate.

Upcoming milestones for investors include further offtake contracts and securing the last land access agreement for their Czech Republic project, having already achieved significant environmental approval.

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Chesnara PLC chief executive Steve Murray discusses the company's full-year results for 2023 with Proactive's Stephen Gunnion, describing them as strong and particularly highlighting £53 million in commercial cash generation and a dividend coverage of around 150%.

The company has seen a return to economic growth, with an improvement in the solvency ratio to 205%, the highest in its nearly 20-year history. New business improved to £10 million. It also completed two acquisitions this year, contributing to its M&A momentum.

Chesnara announced a 3% increase in its full-year dividend to 23.97p per share, continuing a 19-year track record of increasing dividends.

Operational efficiency improvements were noted, particularly in cost management, contributing to profitability. Despite economic challenges in recent years, Chesnara anticipates a more stable operating environment and is well-positioned to handle market volatility.

Murray said Chesnara also plans to continue its acquisition strategy, supported by a solid balance sheet and financing options, including about £140 million in cash and a revolving credit facility.

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Lincoln Minerals Ltd (ASX:LML) CEO Jonathon Trewartha sits down with Proactive’s Jonathan Jackson to shed light on the company's strategic advancements in the magnetite and graphite sectors. With its substantial 1.2 billion tonnes magnetite resource at the Eyre Peninsula Green Iron Project, Lincoln is entering the partnering phase to enhance the project's development potential. This initiative aligns with South Australia's decarbonisation efforts, positioning the company as a key player in the sustainable resources domain.

Simultaneously, the Kookaburra Graphite Project has reported promising high-grade graphite intercepts, with results up to 30.5% Total Graphitic Carbon (TGC), extending the mineralisation and boosting the project’s economic outlook.

Lincoln Minerals is gearing up for a transformative phase, aiming to minimise shareholder dilution while advancing its key projects towards operational readiness.

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Grant Haywood, CEO of Horizon Minerals Ltd (ASX:HRZ), sits down with Proactive’s Jonathan Jackson to share his insights into the company's strategic blueprint for gold production near Kalgoorlie, Western Australia. The plan encompasses four key phases: developing the Cannon and Pennys Find underground mines, advancing the Kalpini open pit and conducting short-term development and feasibility studies at the Boorara project.

In the current climate of record gold prices, Horizon aims to capitalise on this opportunity by advancing its large resource endowment towards development, thereby generating cash flow. Haywood emphasizes the company's methodical approach to negotiations and approvals, ensuring a steady progression of development assets towards sustainable gold production.

The impending merger with Greenstone Resources is set to enhance Horizon's portfolio, introducing new, high-grade, near-term mining opportunities in the Coolgardie region.

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Hive Digital technologies Executive Chairman Frank Holmes joined Steve Darling from Proactive to share details about the company's engagement with NVIDIA, a pivotal player in the GPU market, particularly in Ethereum mining and the broader digital transformation landscape.

Holmes highlighted Hive's substantial investments in NVIDIA's powerful GPU chips, initially for mining Ethereum and other cryptocurrencies. However, the company has now pivoted towards building ultra-high-performance computing systems. This strategic shift has elevated Hive to a platinum buyer status of NVIDIA's H100 GPUs, indicating the strong relationship between the two firms.

Beyond the commercial relationship, Holmes emphasized the broader impact of NVIDIA's technology across various sectors, drawing parallels between attending NVIDIA's event and Warren Buffett's Annual Meetings. NVIDIA's trillion-dollar valuation and the unprecedented computational power of its GPUs are seen as transformative for industries worldwide. Holmes advocated for the rapid adoption of such technologies, including GPT chat, to streamline business operations.

Regarding Hive's performance, Holmes expressed optimism, particularly in Bitcoin mining, which has seen substantial gains amid Bitcoin's price surge. With over 2,100 Bitcoins on its balance sheet, Hive anticipates further growth, especially with its focus on green energy and preparation for Bitcoin's halving event. This strategic positioning is expected to strengthen Hive's standing in both the Bitcoin mining and AI sectors, with significant developments like Amazon's acquisition of a nuclear reactor for electricity highlighting the evolving dynamics in data center operations.

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Xalles Holdings subsidiary CashX CEO Stephen Combe joined Steve Darling from Proactive to announce an exciting partnership between the company's subsidiary, CashXAI, and Fluid Tech, a pioneer in virtual gift card technology and advertising platforms. This collaboration aims to revolutionize financial services by introducing virtual Gift Cards to CashX users.

Combe explained to Proactive that through this partnership, CashX users now have the opportunity to purchase and send Fluid Tech's V-Cards, offering a unique and personalized way to gift. These virtual gift cards can be redeemed for a diverse range of nationally recognized brands, providing recipients with unparalleled convenience and choice. Furthermore, the initiative supports cause marketing by enabling a percentage of V-Card proceeds to be donated to charity, enhancing the social impact of every transaction.

In addition to enhancing the gifting experience, the collaboration introduces a significant advertising platform to CashX's ecosystem. The platform features content from prominent companies such as P&G, Pepsi/Coke, and others, enriching the CashX service offering. This partnership not only benefits CashX users by providing access to a wider array of gift options but also opens new revenue streams for participating companies and merchants through increased visibility and engagement.

Overall, the partnership between CashXAI and Fluid Tech represents a strategic move to enhance the financial services offered by CashX while providing users with innovative gifting solutions. By leveraging virtual Gift Cards and integrating a robust advertising platform, CashX is well-positioned to deliver value to both users and participating businesses, fostering growth and driving engagement within its ecosystem.

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Coniagas Battery Metals CEO Frank Basa joined Steve Darling from Proactive to announce the company's strategic acquisition of key ground near SOQUEM’s Cardinal Property, located 80 km southeast of Chibougamau, Quebec. This acquisition underscores Coniagas’ commitment to capitalizing on high-grade copper-nickel-cobalt-platinum group element deposits in the region.

Basa explained to Proactive that Coniagas has staked a total of 28.3 square kilometers of ground in multiple packages, with the new package containing 531 claims covering 28,397 hectares. This newly acquired property package, named Dartagnan, is strategically located with highway access to the southern part and a network of logging roads providing access to other areas. Additionally, Dartagnan South benefits from a power corridor leading to Chibougamau.

By strategically staking ground adjacent to SOQUEM’s Cardinal Property, Coniagas has capitalized on local prospectors’ expertise and regional geological data, including magnetic features and lake sediment samples with anomalous base metals. This proactive approach underscores Coniagas’ dedication to identifying and securing promising exploration targets with the potential for significant mineralization.

The acquisition of the Dartagnan property represents a significant milestone for Coniagas Battery Metals as it expands its footprint in a highly prospective mining region. With access to key infrastructure and leveraging geological data, the company is well-positioned to advance exploration efforts and unlock the potential of the Dartagnan property.

In summary, Coniagas Battery Metals' strategic acquisition underscores its commitment to exploration and development in the Chibougamau region. The Dartagnan property presents exciting opportunities for the company to identify and develop high-grade copper-nickel-cobalt-platinum group element deposits, further enhancing its position in the battery metals sector.

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Rush Rare Metals CEO Peter Smith joined Steve Darling from Proactive to share news about the mineral exploration company's focus on its Boxi Property in Quebec and the Copper Mountain Project in Wyoming. The company recently announced the staking of the Knob claims in Wyoming, comprising 52 mineral claims totaling 780 acres.

According to Smith, these claims are now part of the Copper Mountain Project, subject to an option/earn-in agreement between Rush and Myriad Uranium. Under the agreement, Myriad can earn a 50% interest in the project by spending $1.5 million exploring Copper Mountain and increase its interest to 75% by spending a total of $5.5 million. As Myriad meets certain progress thresholds, Rush will receive Myriad shares and other incentives.

Conversely, the Boxy property in Quebec, initially acquired for its uranium potential, has shifted focus towards its exceptional niobium prospects. Niobium, a lesser-known element, is highly valued for its application in enhancing steel's strength and resistance, making it crucial for major infrastructural projects and as a component in superconductors and magnets. Recent exploration has revealed a mineralized dike with high-grade niobium samples, indicating a promising potential compared to other niobium mining operations.

For the upcoming year, Rush Rare Metals plans to extend exploration efforts at the Boxy property, incorporating more stripping, channel sampling, and drilling to gain a comprehensive understanding of the niobium deposit's extent and quality. The objective is to ascertain the deposit's economic viability and prepare for future development. This exploration phase is eagerly anticipated by the company, given the substantial market opportunity mirrored in the success of similar niobium discoveries, highlighting the potential for significant value creation.

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Oriole Resources PLC CEO Tim Livesey and chief financial officer Bob Smeeton join Proactive's Stephen Gunnion with details of the company's 2023 financial and operational performance.

Livesey highlighted successful exploration programs in Cameroon, at the Bibemi and Mbe projects, resulting in an enhanced main resource at Bibemi to 375,000 ounces. The latter part of the year focused on negotiations with external investors, culminating in deals with BCM for 50% ownership and $4 million investment in each of the Bibemi and Mbe licences.

Smeeton detailed a £2.4 million operating loss, attributing it to non-cash items and emphasising cash preservation as a primary goal. The company secured project-level funding and a financing deal with Lanstead, providing monthly payments based on share price, which outperformed initial expectations.

Looking ahead, Oriole Resources plans extensive drilling and exploration, expecting significant expansion and new resource development, with a focus on a multi-pit gold operation and centralised processing facility. Additional work includes lithium target exploration and ongoing projects in Senegal.

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