Proactive - Interviews for investors

Galileo Mining Ltd (ASX: GAL) managing director Brad Underwood joins Jonathan Jackson in the Proactive Studio to discuss the launch of the company’s 2024 exploration program at its 100%-owned Norseman project in Western Australia. Underwood discusses the RC drilling completed in December at West Callisto and North Callisto prospects as well as drilling at Jimberlana target that has led to the current work program. The company has started preparations for a geophysical IP survey, with a survey crew scheduled to arrive on-site in early February. Galileo is determined to make fresh discoveries within a newly recognised mineral district following the breakthrough discovery of the Callisto deposit in 2022. Looking ahead, the company has planned field mapping, environmental surveys and heritage surveys in preparation for extensive 2024 drilling programs.

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Steppe Gold Executive Vice President Aneel Waraich joined Steve Darling from Proactive to unveil a major development that propels the company to the forefront as Mongolia's premier gold producer.

During the interview, Waraich disclosed that the company has successfully entered into a binding term sheet to acquire Boroo Gold LLC, a renowned gold producer boasting an impressive average gold production of over 60,000 ounces annually. Furthermore, Boroo Gold's anticipated mine life extends beyond 2030, cementing its status as a significant asset.

Waraich went on to explain that this strategic acquisition positions Steppe Gold as the leading gold producer in Mongolia. The company now has a near-term production target of an astounding 200,000 ounces per annum, which includes the committed ATO Gold Mine Phase 2 Expansion. As a result of this move, Steppe Gold's production is set to experience a substantial increase, soaring from 30,000 to 90,000 ounces per annum once the Proposed Transaction is finalized. Additionally, the deal is expected to contribute to Steppe Gold's already impressive existing resource base of over 4,000,000 ounces AuEq, solidifying its position as a dominant player in the industry.

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First Phosphate Corp CEO John Passalacqua joined Steve Darling from Proactive to r announce a significant milestone for the company - the successful closure of their oversubscribed financing round, which has brought in a substantial total of 8.2 million dollars.

During the interview, Passalacqua expressed his enthusiasm about this achievement, emphasizing that it represents a substantial vote of confidence from both existing and new shareholders, including several institutional investors. This influx of capital has positioned First Phosphate in a favorable stance to initiate drilling operations during the upcoming winter season, with the primary goal of uncovering the full scope and potential of the Bégin-Lamarche high-purity igneous rock phosphate horizon. Remarkably, this resource is located a mere 70 kilometers from the deep-sea Port of Saguenay, providing strategic logistical advantages.

The successful financing not only marks a significant financial achievement for First Phosphate Corp but also sets the stage for a year filled with exciting developments and opportunities that lie on the horizon. Investors and industry enthusiasts alike can look forward to a promising journey ahead for the company.

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Doubleview Gold Corp CEO Farshad Shirvani joined Steve Darling from Proactive to share news the company is on a mission to transform the scandium market in North America. Scandium, a critical metal, is currently dominated by Russia and China, making it challenging for Western industries to secure a steady supply. However, Doubleview aims to change this narrative by unlocking a secure, North American source of scandium and integrating it into domestic supply chains.

While Canada and the US do have scandium deposits, they are typically of limited scale and uneconomical to mine due to high upfront costs. Scandium is often just a by-product of other mining operations. Doubleview's vision is to address these challenges with its North American deposit, which holds the potential to become one of the world's largest scandium sources. Mining in this region is expected to be straightforward.

Furthermore, Doubleview possesses proprietary processing technology, validated through successful laboratory tests. This technology could prove invaluable if the mine enters production. The deposit is not just a source of scandium; it also contains copper, gold, cobalt, and other elements, including those used in solar panels.

Shirvani told Proactive currently, scandium phosphate sells for around $30 per gram, but Doubleview aims to drive this cost down to as little as $1 per gram. Such a reduction in price would position Doubleview as one of the world's most competitive scandium producers, making it an attractive choice for various industries.

In the short term, Doubleview plans to release a resource estimate for a portion of its deposit in the first quarter of 2024, showcasing its size and quality potential. Following this, continued exploration, along with environmental and pre-feasibility work, will determine whether ore is shipped from the deposit or if Doubleview decides to construct its mill, further enhancing sustainability in the process.

#proactiveinvestors #doubleviewgoldcorp #TSX #gold #otcqb #dblvf #mining #scandium

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ECD Automotive Design CEO Scott Wallace joined Steve Darling from Proactive to share news the company is gearing up for an exciting year ahead in 2024 as the first publicly-traded "restomod" company.

Firstly, ECD anticipates a strong financial performance for 2024 with revenue projected to be $33 million, an impressive increase of over 50% compared to anticipated 2023 revenue of $22 million, and gross margins expected to be 35%in 2022 to 38% in 2024.

One notable achievement is that ECD's core Defender North production line is already completely sold out for 2024. This, combined with the introduction of the Jaguar E-Type and an undisclosed new model on the South production line, means that ECD has already secured binding orders of over 80% of its total 2024 production capacity.

To accommodate this increasing demand, ECD plans to add another manufacturing line to its Rover Dome facility in Kissimmee, Florida. This expansion aligns with its commitment to sustainable growth and positions the company for long-term success. ECD's growth plans also include consolidating the ecosystem that surrounds the luxury auto client. This is a $15 billion industry that is highly fragmented.

In addition to these exciting developments, ECD has unveiled Project QE, a stunning Defender 110 that seamlessly blends modern amenities with classic British heritage. This vehicle boasts a powerful LT1 V8 engine with 450 horsepower, making it not only visually striking but also a high-performing daily driver. With its classic grille, bumper, and 6-point roll cage, Project QE pays homage to its English roots while offering a comfortable and powerful driving experience.

All in all, ECD Automotive Design is poised for a prosperous 2024, driven by strong demand for its customized vehicles and a commitment to quality and innovation.

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American Rare Earths Limited CEO Donald Swartz joined Steve Darling from Proactive to share significant metallurgical results achieved as part of a consortium led by Lawrence Livermore National Laboratory. The collaboration is part of a program funded by the Environmental Microbes initiative, involving cooperation between Lawrence Livermore National Laboratory and the University of Kentucky.

Swartz told Proactive the Halleck Creek ore was effectively preconcentrated to 3.5% Total Rare Earth Oxides at a 12:1 upgrade ratio. This represents an impressive ~200% increase compared to the existing flowsheet design that uses low-cost, conventional Dense Medium Separation. Preconcentration is a crucial step in the ore processing workflow, allowing for the removal of a significant portion of non-valuable material, ultimately improving overall efficiency.

The successful preconcentration process has significantly reduced the Wet High-Intensity Magnetic Separator (WHIMS) needs by 70% compared to the existing design. This reduction in magnetic separation requirements is a substantial cost-saving measure, reducing both capital and operating expenditures.

The feed mass entering the direct leaching process has been significantly reduced from 16% to 7%, representing a 56% reduction in material reporting to the leach circuits. This substantial reduction further enhances the efficiency of the leaching process and lowers operating costs.

With these promising results in hand, ARL is now planning to implement these improvements into its flowsheet and scoping study. These findings not only enhance the overall efficiency of the ore processing workflow but also position ARL for cost savings and improved resource utilization in its rare earths extraction efforts.

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Empire Metals Ltd managing director Shaun Bunn joined Proactive's Stephen Gunnion with restults from the company's latest drilling program at Pittsfield in Western Australia.

Bunn revealed that the second RC drilling campaign was a major success, with each of the 40 holes drilled striking titanium mineralization from surface to end. This outcome confirms the presence of a giant mineral system extending over a 25-kilometer strike length. Following the success of their maiden drilling program and the second assay phase, Empire Metals plans to initiate a combined diamond and RC drilling program starting February, aiming to further explore and develop this massive deposit.

Bunn also discussed a £3 million placement. The funds raised are crucial for accelerating potential development, including detailed metallurgical and mineralogical studies, and enhancing their technical team. Bunn emphasized the importance of establishing an economic value for the discovery and exploring potential metallurgical processes for mineral extraction.

This phase of development represents a significant step forward for the company, as they move from preliminary exploration to detailed development and extraction planning.

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Wishpond Technologies CEO Ali Tajskandar joined Steve Darling from Proactive to share his outlook for 2024, highlighting the transformative nature of the upcoming year for the company. The focal point of their strategy is Propel IQ, their flagship product, which is set to undergo further enhancements with the integration of several AI initiatives throughout 2024.

Despite challenges and a temporary pause in hiring, the strategy proved successful by the end of Q3 and beginning of Q4, with improved retention and margins exceeding 80%. Additionally, the introduction of three AI products and a fourth product, Sales Closer, laid the foundation for a pivotal 2024. Sales Closer, an AI-powered tool facilitating live demos on Zoom calls, is set to launch in beta, with high anticipation from a waiting list of over 300 companies.

Tajskandar emphasized the company's plan to invest in expanding its sales team to drive growth while maintaining careful control over cash flow. The goal for 2024 is to achieve positive cash flow and rely on funds generated from operations to support ongoing activities, including the introduction of AI-enabled marketing products.

Additionally, Wishpond Technologies has access to a $6 million line of credit from a Tier 1 Canadian bank, which provides financial flexibility for their initiatives and growth plans.

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Coro Energy PLC managing director Michael Carrington joined Proactive's Stephen Gunnion with details of a debt finance agreement to fund the initial rollout of its rooftop solar panels on Mobile World Investment Corporation sites in Vietnam.

Vietnamese lender HDBank has made an in-principle offer to provide funding for the pilot stage of the project.

This would stretch to ten prospective locations for rooftop solar to be fitted initially and would cover half of the capital needed for each.

Carrington highlighted the significant role of debt finance in this endeavor, notably from HDX Bank, a local Vietnamese institution experienced in rooftop solar financing.

This initiative is in partnership with Mobile World Investment Corp (MWG), presenting a substantial opportunity for Coro Energy. Carrington explained the pilot project's funding, which is just under $300,000 for 10 sites, with HDX Bank committing to 50% of the debt finance. This prudent approach ensures a thorough evaluation before broader implementation.

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Oriole Resources PLC chief executive Tim Livesey joined Proactive's Stephen Gunnion with details of a definitive earn-in agreement for its Mbe gold project in Cameroon, its second deal with BCM International this month.

On 5 January, Oriole also signed an earn-in with BCM for the Bibemi project again in Cameroon.

At Mbe, BCM can earn up to 50% for a US$1 million signature payment plus U$4 million in exploration expenditure and resource-linked success payments.

Livesey also discussed encouraging sampling results from the Mbe project, completed as part of a ‘due diligence’ programme of work by BCM.

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