Good morning from London where the FTSE 100 is pretty much where it was yesterday, scudding along at its lowest since late November at around 7,450 points.

Today is very much a tale of two stocks, with Watches of Switzerland taking a real pounding and Paddy Power owner Flutter Entertainment having a very strong start to the morning.

Watches of Switzerland shares are down nearly 30% after they were issued a profit warning. The company says it now expects financial year 2024 revenue of around £1.54 billion, down from previous guidance of £1.65-1.7 billion. Brian Duffy, chief executive said: "The festive period was particularly volatile this year for the luxury sector, with consumers allocating spend to other categories such as fashion, beauty, hospitality and travel."

And Paddy Power’s 10% share price boost this morning came despite US trading being hit by some “customer friendly” sporting results, particularly in the NFL. Peel Hunt expects Flutter’s additional listing in New York (expected 29 January) to be a significant driver of the share price as US domestic investors invest in a local market leader.

And finally some good news over at Royal Mail owner International Distribution Services, which said it achieved its best Christmas operational performance for four years. Group revenues are up by 9.8% on the previous year, with Royal Mail winning back customers following last year's industrial action.

That’s all for now but stay tuned for plenty of interviews and news updates throughout the day.

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Cooper Metals Ltd (ASX: CPM) managing director Ian Warland joins Jonathan Jackson in the Proactive studio to chat about the company’s rock chip samples from Brumby Ridge prospect within the Mt Isa East Copper-Gold Project in Queensland. Samples returned up to 4.8% copper. The company is planning 1,000 metres of diamond drilling and up to 2,000 metres of reverse circulation (RC) drilling at Brumby Ridge. It will also undertake an induced polarisation survey to optimise drill targets and this is expected to commence late next month. Warland explains why the company believes Brumby is an “important short-term exploration opportunity” and what investors can expect across the company’s projects in 2024.

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Intra Energy Corp Ltd (ASX: IEC) managing director Ben Dunn sits down with Jonathan Jackson to discuss the presence of pegmatites with key lithium pathfinder elements in rock chip samples collected from six outcropping pegmatites during a “brief field walk” at the newly acquired Maggie Hays Hill Lithium Project in WA. The company says initial sampling results have demonstrated that the pegmatites are in the key geochemical zone associated with lithium mineralisation and it is now finalising the exploration program and will lodge the necessary permits to conduct drilling. Further exploration will start immediately, with heritage approvals and drilling to follow when the tenement is formally transferred to Intra Energy.

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Elixir Energy Ltd (ASX: EXR) managing director Neil Young joins Proactive’s Jonathan Jackson to talk about positive log results returned for the recently discovered deep permeable zone in the Daydream-2 appraisal well at the Grandis Gas Project in Queensland. The company said the discovery of the presence of porous and permeable sandstone reservoirs at 4,200 metres in Daydream-2, which produced gas to surface, had great significance for the Grandis Project and for the greater Taroom Trough in Queensland’s Bowen Basin. Young discusses that significance, along with the upcoming stimulation and testing phase. Elixir will conduct a diagnostic fracture injection test (DFIT), which will begin around the end of this month, which has traditionally not been commonplace in Australia. Finally, Young updates shareholders on what to expect throughout 2024.

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Astral Resources NL (ASX: AAR) managing director Marc Ducler sits down with Proactive’s Jonathan Jackson to outline how the company’s recent drilling program has “delivered in spades”, after returning thick high-grade intercepts up to 139 g/t gold at the Theia prospect within its 100%-owned Mandilla Gold Project in Western Australia. The results come from the final three of a six-hole diamond drilling program for 1,822.3 metres completed at Theia last November and will support a potential increase in Mandilla’s resource confidence to the indicated category. Ducler discusses the aircore program that is underway and an RC program that is scheduled. The company has also brought Mark Connolly into the fold as non-executive chair. Finally, Ducler outlines the year ahead for shareholders.

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Future Metals NL (ASX:FME) executive chairman Patrick Walta sits down with Jonathan Jackson in the Proactive studio to discuss upcoming drilling at the company's Eileen Bore Copper-Nickel-PGM Project. Preparations are well underway and will start immediately after the current Kimberley wet season ends. The drilling will target potential mineralisation extensions near surface and at depth. Walta also details the results of the company’s recent scoping study and the de-risking and value optimisation work at the Panton Project. FME recently undertook a $3.3 million raise and Walta outlines how and where the funds will be used. Finally, he talks viewers through what shareholders can expect throughout 2024.

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Dr. Raza Bokhari, the Executive Chairman and CEO of Medicus Pharma, discussed the company's recent milestone of submitting the phase two clinical protocol to the FDA during an interview with Steve Darling from Proactive.

Medicus Pharma is a clinical-stage holding company listed on the Toronto Stock Exchange that specializes in identifying and investing in novel therapeutic assets, with a primary focus on advancing non-invasive treatments for skin cancers, particularly basal cell carcinoma.

Dr. Bokhari expressed his enthusiasm for the progress made since the fall of the previous year, highlighting the completion of a phase one trial and the initiation of a phase two trial in pursuit of FDA approval. He emphasized the company's strategy to accelerate through the FDA trial process, aiming for fast-track designation and eventual commercialization.

Medicus Pharma's recent participation in the Biotech Showcase at the JP Morgan conference garnered positive feedback and attention. Furthermore, the company's expansion to the Frankfurt exchange aligns with its ambitious plans for a busy and productive 2024, with hopes of crossing borders and uplifting to NASDAQ.

As Medicus Pharma navigates these significant milestones, Dr. Bokhari reiterated the company's commitment to creating sustainable shareholder value and the exciting opportunities on the horizon in the field of non-invasive skin cancer treatments.

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Willow Bioscience CEO Dr Chris Savile joined Steve Darling from Proactive to share news the company has announced they plan to collaborate with Enterin, which is a clinical stage biopharmaceutical company pioneering novel treatments that target neurodegenerative and metabolic disorders, to develop new sustainable manufacturing routes to its key intermediates and active pharmaceutical ingredients or API’s.

Savile told Proactive Enterin recognized the need to employ more sustainable methods to manufacture its key development targets at reduced cost and less waste and sought Willow's expertise in developing and scaling biobased processes. The initial program will focus on the feasibility of developing a biobased pathway and, if successful, advance development toward implementation at commercial scale. The development phase of this funded collaboration is expected to last approximately three months.

In 2024, the company aims to transition its research and development programs into commercial revenue, emphasizing the execution of commercial agreements, advancing technology, and expanding its innovator partnerships. Savile underscored the goal of achieving these milestones without increasing overhead. The interview reflects Willow Biosciences' commitment to strategic growth and transformative solutions in the biotechnology sector. Stay tuned for more exciting developments from this innovative company led by Dr. Chris Savile, shaping the future of bioscience.

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Cannara Biotech Inc CFO Nicholas Sosiak joined Steve Darling from Proactive to provided valuable insights into the company's success in the cannabis industry during an interview with Steve Darling from Proactive. Cannara, based in Montreal, Canada, is a licensed producer with two facilities totaling 1.6 million square feet, with a strong focus on quality and cost-efficiency, thanks in part to Quebec's low electricity costs.

Sosiak discussed the company's strategic acquisitions, including the purchase of a 1 million square foot cannabis facility for $27 million, significantly below its initial cost. Cannara Biotech Inc. has also developed three in-house brands: Tribal, Nugs, and Orchid CBD, each catering to specific market niches. The company places a strong emphasis on consistency and quality to drive brand loyalty among consumers.

As CFO, Sosiak combines his financial expertise with a passion for the cannabis industry. His leadership has contributed to the company's impressive 60% increase in net revenue. Looking ahead to 2024, Cannara Biotech plans to capitalize on its existing markets, introduce new products, and expand into untapped regions. Sosiak expressed optimism about the potential for international growth, particularly in the US market, once regulatory barriers are addressed.

Cannara Biotech Inc. is currently traded on the TSXV (LOVE) and OTCQB (LOVFF), with plans to enhance visibility among US investors in the future. The interview highlighted the company's robust growth strategies and the dual role of its CFO in financial management and product development, setting a positive trajectory for Cannara Biotech's continued success in the cannabis industry.

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ARway.ai Chief Executive Officer Even Gappelberg joined Steve Darling from Proactive to share exciting news that the company has signed a new developer deal with F3Geomatic Solutions, a distinguished geospatial modeling and mapping agency based in Cuervo, Texas.

Through this partnership, F3Geomatic Solutions and ARway.ai aim to provide seamless, accurate, and immersive tailored geospatial solutions for a wide range of applications, including museums, trade shows, and local governments. This collaboration will create unparalleled user experiences by leveraging ARway's innovative technology and F3Geomatic's expertise in geospatial modeling and mapping.

Gappelberg also highlighted the significant market opportunity arising from the introduction of "Apple Vision Pro." This development is expected to catalyze a substantial transformation within the augmented reality and spatial computing industry. ARway.ai is well-positioned to capitalize on this opportunity, as their ARway app is proudly available in the new spatial computing Vision Pro app store.

Furthermore, ARway.ai's strategic focus on indoor navigation and recent advancements in AR glasses integration align perfectly with the industry's overarching shift towards 3D/AR. This positions the company for continued growth and success in the augmented reality and spatial computing space.

The partnership with F3Geomatic Solutions and ARway.ai's presence in the Vision Pro app store reflect the company's commitment to innovation and its role in shaping the future of augmented reality and spatial computing.

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