Proactive - Interviews for investors

AuKing Mining Ltd (ASX:AKN) CEO Paul Williams joins Proactive’s Jonathan Jackson to elaborate on the company’s recent MoU with Barg Alsaman Mining Company (BSMC) for mineral project exploration and development in Saudi Arabia. This partnership signifies AuKing Mining’s strategic move to extend its portfolio, which is focused on uranium and copper.

BSMC, a subsidiary of the Segia Gulf Group, plays a pivotal role in this collaboration, bringing substantial local expertise and resources to the table. During the initial phase, AuKing, alongside BSMC, will focus on tapping into the vast mineral potential within the Kingdom, leveraging BSMC's operational strengths and insights.

The Saudi Government's push to revamp the mining sector and make it a cornerstone of the economy is a key driver behind this venture, signalling a conducive environment for mining activities and international collaborations.

While expanding into Saudi Arabia, AuKing continues to prioritise its copper and uranium projects in Tanzania and Australia. The company is gearing up to secure funding to advance these primary projects, balancing its growth strategy between exploring new territories and nurturing its existing assets.

#ProactiveInvestors #AuKingMining #ASX #SegiaGulfGroup #Uranium #Copper

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Novo Resources Corp (ASX:NVO TSE:NVO) co-chair and acting CEO Mike Spreadborough joins Jonathan Jackson in the Proactive studio to discuss promising gold outcomes from recent reanalysis of drill intercepts in a 2023 program at Nunyerry North in Western Australia. Using advanced PhotonAssay™ technology, the company reassessed samples, revealing a significant grade increase, notably a 6-metre intercept at 6.12 g/t gold from 37 metres depth. This reanalysis, comparing 4-kilogram samples against the traditional 500 grams, highlighted the presence of coarse gold, prompting a strategic shift in assay methodology.

Spreadborough underscores the "substantial upside potential" of Nunyerry North, with some high-grade results near the surface. He outlines the forthcoming phase two drill program, aimed at probing the extensions of the known gold-bearing horizon, structural targets and a possible mineralised porphyry intrusion.

The acting CEO also speaks about plans to execute 4,000 metres of reverse circulation drilling along a 2-kilometre strike and the positive board changes Novo recently implemented.

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Joining Jonathan Jackson in the Proactive studio is Ariana Resources plc (LON:AAU) managing director Kerim Sener, who sits down to discuss the latest resource and reserve update for the Zenit Mining Operations in Western Türkiye. The update encompasses the Kiziltepe and Tavsan sectors, operated by Zenit Madencilik in partnership with Proccea Construction and Ozaltin Holding, with Ariana owning a 23.5% stake.

The update reveals a JORC reserve of 5.3 million tonnes at 1.46 grams per tonne (g/t) of gold and 9.81 g/t of silver, totaling 249,000 ounces of gold and 1.67 million ounces of silver. This indicates a potential for approximately 10 more years of production.

Since 2017, the Kiziltepe Sector has produced 151,000 ounces of gold and 1.68 million ounces of silver. The global JORC resource now stands at 10.9 million tonnes, containing 483,000 ounces of gold and 4.45 million ounces of silver, with identified avenues for further resource growth.

Dr Sener shares insights on the long-term strategy of combining the Kiziltepe and Tavsan sectors for optimised ore processing, reflecting significant progress since the strategy's conceptualization in 2009. With a substantial increase in gold prices, the company is reassessing pit designs and processing options to extend the life and efficiency of the operations.

Investors can look forward to continued exploration efforts aimed at expanding the resource base, with Ariana Resources poised for strategic growth in Western Türkiye's mining sector.

#ProactiveInvestors #ArianaResources #LON #Gold #Silver

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Silver North Resources CEO Jason Weber joined Steve Darling from Proactive to unveil the 2024 drilling program at the Tim Property, which is under option to Coeur Mining, Inc. Coeur intends to commence exploration on the property in June, targeting silver-lead-zinc Carbonate Replacement Deposit (CRD) mineralization similar to that found at Coeur’s Silvertip Mine Property, located 19 km to the south of Tim.

Coeur plans to initiate the 2024 program in June, focusing on drilling, geochemical sampling, and drill pad and access development, with crews operating out of the Silvertip Mine Camp. The program aims to complete approximately 2,000 meters of drilling from up to six drill pads, testing the potential for CRD-style mineralization along almost 2,000 meters of strike length of prospective stratigraphy.

Weber highlighted the strategic advantages of the Tim property, including road access, which is rare in Yukon exploration, thanks to its proximity to the access road to the Silvertip mine. This access, combined with the region's geological potential and previous findings, underscores the project's significance.

Moreover, Weber emphasized the exploration's potential to add value to Silver North Resources' portfolio and share price, independent of silver price fluctuations. The company aims to achieve discovery that enhances its overall value, demonstrating its commitment to advancing exploration efforts and unlocking the full potential of the Tim Property.

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Algernon Pharmaceuticals CEO Christopher Moreau joined Steve Darling from Proactive to announce a significant agreement regarding the company's drug, Ifenprodil. Originally discovered in Japan and not utilized in the US or Europe, Ifenprodil was initially developed to treat intermittent claudication but found application in Japan for vertigo post-stroke. Dr. Mark Williams, Algernon's co-founder, identified Ifenprodil's potential for repurposing in new markets, particularly for Idiopathic Pulmonary Fibrosis (IPF) and chronic cough, a symptom associated with IPF.

During the interview, Moreau disclosed that the company has entered into a transformative agreement with a private US firm, granting them rights to advance Ifenprodil through a Phase 2b study targeting chronic cough. This agreement provides Algernon with a 20% interest in the acquiring company and a $2 million U.S. cash infusion. This financial injection strengthens Algernon's financial position and enables it to focus on other projects, including a promising study on DMT for stroke treatment.

The agreement represents a pivotal moment for Algernon, positioning Ifenprodil for further development in a market with significant potential. Moreover, it allows Algernon to concentrate on advancing its broader drug development pipeline, ensuring the company remains at the forefront of innovation in the pharmaceutical industry.

In summary, the agreement concerning Ifenprodil marks a significant milestone for Algernon Pharmaceuticals, underscoring its commitment to advancing novel treatments and maximizing shareholder value. With a strengthened financial position and a focus on strategic initiatives, Algernon is well-positioned for future growth and success in the competitive pharmaceutical landscape.

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Montage Gold Inc CEO Martino De Ciccio joined Steve Darling from Proactive to share exciting developments as the company strives to establish a multi-asset gold mining enterprise focused on Africa. Drawing on his nine-year tenure at Endeavor, De Ciccio's transition to Montage Gold reflects a strategic move to capitalize on the burgeoning opportunities within the gold mining sector, backed by support from London investors.

Central to Montage Gold's strategy is its flagship project, the Kone project located in Cote d'Ivoire, which is currently at the DFS (Definitive Feasibility Study) stage. The project holds immense promise, with projections indicating annual production of over 300,000 ounces for the first eight years, at an industry-leading cost of $1,000 per ounce, and a robust 16-year mine life. These impressive metrics firmly position the Kone project as a standout venture in Africa, distinguished by its scale, quality, and the favorable operational environment in Cote d'Ivoire.

Over the past year, Montage Gold has made significant strides under new London backing, focusing on updating the feasibility study to reflect a higher-grade deposit. The company successfully completed a financing round, surpassing its initial target by raising $35 million. This funding infusion will propel Montage Gold through to the construction phase, facilitating additional drilling to enhance the mine plan, initiating digital engineering and land compensation efforts, and streamlining financing and permitting processes.

Montage Gold's extensive land package offers substantial exploration potential beyond the Kone deposit, which already hosts an impressive 4 million ounces of gold. The presence of multiple mineralized trends and identified targets near the Kone deposit augurs well for the discovery of additional smaller deposits, further bolstering the project's economic viability.

Operating in Cote d'Ivoire provides Montage Gold with distinct advantages, including established mining infrastructure, easy site access, and a favorable regulatory environment. These factors contribute to the company's confidence in its ability to execute its ambitious plans and establish a significant gold mining presence in Africa.

As Montage Gold progresses through 2024 under De Ciccio's leadership, the company is poised to realize its vision of becoming a leading player in the African gold mining landscape, with the Kone project serving as a cornerstone of its success.

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AVJennings CEO Philip Kearns emphasizes the company's distinction from contract builders by focusing on developing its own land or land within joint ventures, ensuring the homes built are of AVJennings' design.

Kearns told Proactive's Jonathan Jackson that the company outsources its trades but maintains quality through rigorous supervision. This approach, according to Kearns, is foundational to AVJennings' reputation for creating quality communities and homes trusted by generations, some of whom have lived in their AVJennings homes for over 50 years. The emphasis on quality construction and thoughtful design, aimed primarily at homeowners rather than investors, has contributed significantly to the brand's standing, evidenced by its ranking as the third most trusted brand in Australia in a 2021 Reader's Digest survey.

Kearns highlighted the recent challenges in the building industry, including labour shortages and rising costs, which have made it difficult for many developments to proceed. Despite these obstacles, AVJennings has managed to navigate the uncertainties by being prudent and frugal with capital management. The company has leveraged its flexibility in managing land development pace to adapt to market demands and interest rate fluctuations.

Looking ahead, AVJennings aims to stabilize the business amidst ongoing market challenges, including interest rate uncertainty and labor issues, with a long-term view towards 2025-2027. Kearns outlines a strategy focused on weathering the current storm and setting a solid foundation for future growth, underscoring the company's long-term planning and resilience in facing industry cycles.

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Crossword Cybersecurity PLC group managing director Stuart Jubb discusses the company's new CyberAI Practice in an interview with Proactive London.

Jubb said the new "centre of excellence" is aimed at addressing the rapid implementation of generative AI (Gen AI) and large language models (LLMs) by companies. Jubb highlighted concerns from chief information security officers (CISOs) regarding the lack of understanding of the risks associated with these technologies.

The practice, part of Crossword's consulting business, aims to consolidate AI expertise into a centre of excellence, leveraging the company's deep knowledge in AI across its consulting and product teams. Collaborations with major industry partners, academics from prestigious institutions like Oxford University, MIT, and researchers from the Alan Turing Institute have enriched the practice.

Services offered include workshops to educate clients on AI risks, particularly the increased threat landscape and data integrity issues posed by LLMs. Additionally, Crossword advises on leveraging AI for business enhancement, focusing on automation and security product improvement, while also addressing the potential for AI to be used in cyber attacks.

Tools like Trillion HarVista are mentioned as integral to the company's approach, enabling rapid analysis of dark web activities and early warnings on cyber threats. This comprehensive approach aims to equip companies with the knowledge and tools to manage risks associated with Gen AI and LLMs.

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Hipages Group Holdings Ltd (ASX:HPG) CEO and co-founder Roby Sharon-Zipser tells Proactive's Jonathan Jackson that Hipages is the premier marketplace for trade services in Australia and New Zealand, focusing on connecting homeowners with vetted tradespeople efficiently.

The platform facilitates quick connections between consumers seeking trade services and qualified tradespeople through a matching algorithm, enabled by the users answering specific service-related questions on the HiPages app or website. This technology ensures trades are verified, enhancing trust and safety for homeowners. Additionally, the company is transitioning towards a Software as a Service (SaaS) model, aiming to offer comprehensive business management solutions for tradespeople, further evidenced by the imminent launch of the HiPages Trade Core app. This app represents a milestone by consolidating various technologies into a single application to reduce friction and improve user adoption among tradespeople.

The trade services sector in Australia and New Zealand is substantial, with an estimated 270,000 businesses in Australia and 40,000 in New Zealand, accounting for over $130 billion in expenditure. Hipages currently holds a 13% market share in Australia and sees significant growth potential by providing more value through its services and technology.

The company's strategy to attract tradespeople revolves around assisting them in building, sustaining, and managing their businesses with sophisticated technological solutions.

For investors, Hipages presents an attractive proposition due to its scale, brand awareness, network effects, and positive cash flow, alongside continuous investment in technology and branding to solidify its market position.

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Ecora Resources PLC CEO Marc Bishop Lafleche discusses the company's transition away from its Kestrel royalty and its impact on the company's 2023 financials, highlighting periods of variable mining activity within the orchestral royalty area.

In an interview with Proactive's Stephen Gunnion, Bishop Lafleche said this transition is part of a broader shift towards future-facing commodities, resulting in volume growth across the company's portfolio excluding Kestrel.

Despite this, strong metal pricing has continued to make cash flow from royalties a significant revenue source. For 2024 and 2025, volume growth is expected across various assets, including Kestrel, Voisey's Bay, and others, contributing to the company's growth.

Bishop Lafleche said the current challenging market for mining companies presents opportunities for Ecora, especially in leveraging the royalty partnership model as a mainstream funding source. This dynamic allows Ecora to grow and diversify its business while maintaining a disciplined investment approach and a high-quality asset base.

Ecora also announced an updated capital allocation framework, including a change in dividend policy, emphasizing growth, balance sheet strength, cash dividends, and share buybacks. The share buyback program is seen as a strategic move to capitalize on the current discount to estimated net asset value, recycling capital effectively.

Development projects remain a significant part of Ecora's value proposition, with a shift from nearly all assets being income-producing in 2015 to a more diversified asset base today. The company expects de-risking events and operating updates to provide clarity on income generation from these assets in the near future.

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