Proactive - Interviews for investors

GRI Bio CEO Marc Hertz joined Steve Darling from Proactive to share news the company has begun patient enrollment in a Phase 2a biomarker study focused on evaluating GRI-0621 as a potential treatment for idiopathic pulmonary fibrosis (IPF). Patient dosing is expected to commence shortly, marking a significant milestone in the clinical development of the drug candidate.

The Phase 2a study is designed as a randomized, double-blind, multi-center, placebo-controlled trial involving approximately 36 subjects diagnosed with IPF. These subjects will be randomly assigned to receive either GRI-0621 at a dose of 4.5mg or a placebo in a 2:1 ratio.

The primary objective of this study is to assess the safety and tolerability of oral GRI-0621, which will be closely monitored throughout the trial. Secondary endpoints include evaluating changes in serum biomarkers collected at weeks 6 and 12.

An interim analysis of the trial is planned when 24 subjects have completed 6 weeks of treatment, with the expectation of providing preliminary insights into the drug's safety and efficacy profile. The topline results from the Phase 2a biomarker study are anticipated to be available in the second half of 2024, shedding light on the drug's potential as a treatment option for IPF.

In addition to these primary and secondary endpoints, the study will also explore the effect of GRI-0621 on pulmonary function at baseline, as well as after 6 weeks and 12 weeks of treatment. The trial aims to provide valuable data to advance our understanding of GRI-0621's therapeutic potential in addressing IPF, a challenging and debilitating respiratory condition.

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Rivalry Corp CEO Steven Salz joined Steve Darling from Proactive to share news the company has achieved remarkable results in the third quarter of 2023, setting new records in various key performance indicators. Rivalry reported a betting handle of $105.7 million, marking a significant 50% increase compared to the same period the previous year. The company reduced its marketing spend by 13% while achieving substantial growth in other areas, indicating improved marketing efficiency. Rivalry generated $8.7 million in revenue during the third quarter, representing a notable 22% increase year-over-year. The company reported a gross profit of $4 million, demonstrating a remarkable 90% growth compared to the previous year.

Salz also highlighted several key factors contributing to Rivalry's as the company successfully grown its casino segment, which now accounts for approximately half of the company's total betting handle. This expansion illustrates the company's ability to cross-sell its offerings and drive growth, even during periods of low viewership for certain esports events. Year-to-date customer key performance indicators (KPIs) have reached historic highs, including record levels of average handle per customer, average revenue per user, and the lowest-ever cost of customer acquisition.

Rivalry's year-to-date results have been exceptional, with a 127% increase in betting handle, a 70% growth in revenue, and a remarkable 175% surge in gross profit compared to the first nine months of the previous year.

Salz also shared the company's future outlook, with a focus on achieving profitability in the first half of 2024. These achievements highlight Rivalry Corp's strong market position and its ability to adapt and thrive in the competitive online betting and gaming industry.

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Helium One Global CEO Lorna Blaisse joined Steve Darling from Proactive to share news the company is gearing up to resume drilling operations in January after overcoming equipment and maintenance challenges. The company has been diligently working to ensure that its Epiroc Predator 220 drilling rig is fully operational for its upcoming drilling campaign.

One of the key developments is the acquisition of a replacement iron rough neck for the drilling rig, which has been sourced and is currently being mobilized from the USA. Installation of this critical component is expected to be completed within three weeks, bringing the rig closer to operational readiness.

Additionally, Helium One Global has been addressing hydraulic system issues on the drilling rig with the assistance of a specialist Hydraulics Engineer. The company is confident that these issues have been successfully resolved, further ensuring the reliability of the drilling equipment.

The drilling rig, along with all associated equipment, has been relocated to the Itumbula laydown area, situated about 1.2 kilometers from the Itumbula well pad. Here, the final maintenance and repair work will be carried out before the rig is moved to the new Itumbula well pad, where the drilling campaign is set to commence in early January.

The upcoming drilling program is expected to take approximately 30 days to complete, and Helium One Global is looking forward to advancing its exploration efforts in its pursuit of helium resources.

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Daniel Major, CEO of GoviEx Uranium Inc., presented at the Proactive One2One Investor Forum, highlighting the company's projects and the broader uranium market.

Emphasising the pressing global need for clean energy, Major noted the ongoing reliance on fossil fuels and the potential of uranium as a sustainable energy source.

He discussed the impact of political events, like Russia's invasion of Ukraine, on the uranium and gas markets, and the increasing governmental commitments to nuclear energy post COP26, with significant expansions planned in China and Japan.

Major detailed the growing demand for uranium, driven by new reactor builds and the advent of Small Modular Reactors (SMRs), and pointed out the industry's challenges, such as underinvestment and geopolitical risks. He mentioned the major role of Russia and Kazakhstan in the uranium market and the resulting supply uncertainties.

Highlighting nuclear energy's advantages, Major described it as safe, efficient, and the lowest carbon-emitting energy source. He compared nuclear energy's reliability and minimal land use to solar and wind energy, underscoring its efficiency and cost-effectiveness.

Focusing on GoviEx's projects, Major discussed their fully permitted mines in Africa, particularly in Niger and Zambia, emphasising their strategic location, infrastructure, and low operational costs. However, he also mentioned the challenges in Nigeria due to political instability.

Concluding, Major stressed GoviEx's solid ESG credentials, necessary for European off-takers, and the undervalued nature of the company despite its robust projects and experienced management team. He conveyed confidence in the uranium market's growth and GoviEx's strong potential in it.

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Greg Ferron, CEO of Platinex Inc., an Ontario-based mining company, discussed the firm's dynamic progress and strategic plans at the Proactive One2One Investor Forum.

Under Ferron's leadership, who ascended to CEO two years ago, Platinex has diversified its portfolio and raised significant capital, enhancing its technical team for active exploration. Ferron emphasised Ontario and Quebec's roles as key mining hubs in Canada, highlighting governmental support and improved permitting processes for mining operations. He underscored the Ontario government's investments in junior companies like Platinex.

Ferron, a major shareholder, outlined Platinex's financials, noting a 10 million market cap, 3 million in cash, and a diversified royalty and joint venture portfolio. The company's flagship project, a copper-nickel venture in Northern Ontario, promises significant value, especially with the planned drilling in January. This project, along with a gold portfolio in Southern Ontario, forms the cornerstone of Platinex's operations.

Additionally, Ferron announced plans to spin out non-core assets into a separate company, focusing on uranium and lithium projects in Canada. This strategic move, coupled with a robust technical team experienced in working with former major Canadian producers, positions Platinex to capitalise on these assets effectively.

Ferron also detailed the company's capital structure, with significant ownership by mining companies and European investors. He concluded by outlining future plans, including drilling activities, the spin-out company's development, and efforts to transition from the CSC to the TSX Venture Exchange for broader investor access. This presentation showcased Platinex's proactive approach in optimising its mining projects and strategic positioning in the market.

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C3 Metals Inc (TSX-V:CCCM, OTC:CARCF) CEO Dan Symons speaks to Thomas Warner from Proactive about the copper-gold explorer's company's progress at the Bellas Gate Project in Jamaica.

Symons explains that C3 Metals is currently operating two drill rigs, including a man-portable rig purchased from Indonesia, which has impressively exceeded its depth capability by nearly 50%. Additionally, they have a larger capacity contract rig for deeper drilling.

The company recently announced significant findings from the Bellas Gate project in Jamaica, particularly at the Porphyry deposit named Provost. They discovered a 281-meter section with 0.5% copper equivalent, with the grade improving at greater depths. The last 62 meters showed a 0.77% copper equivalent, marking a 25% increase. This exploration revealed different layers of the Porphyry system, including a transition from a pyrite shell to a chalcopyrite zone, and finally to a bornite zone, which is particularly notable for its high temperature and superior copper and gold grades.

C3 Metals plans to continue drilling with their larger rig to explore deeper into the system, aiming to uncover higher-grade cores. The company also successfully raised funds, securing $8mln Canadian despite a challenging market for junior explorers. This financial boost aims to support an ambitious drilling program of 20,000 meters in 2024, expanding from the 8,500 meters drilled this year.

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Sprott Asset Management CEO John Ciampaglia joined Steve Darling from Proactive to share some key insights on the 2023 market trends. Uranium emerged as a standout performer, experiencing a remarkable 70% increase in price year-to-date, driven by renewed interest and government support for nuclear energy.

Ciampaglia highlighted the unexpected surge in uranium's importance amid global efforts for cleaner energy solutions. Public sentiment toward nuclear energy has notably improved, acknowledging its role in producing emissions-free power and ensuring reliability. The CEO also discussed the performance of other commodities, such as gold reaching all-time highs and copper facing growing demand due to the shift towards electrification.

Ciampaglia emphasized the challenges in copper supply and predicted increased mergers and acquisitions in the sector. The interview provided valuable insights into the dynamics of the energy and commodities markets in 2023.

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Condor Gold PLC CEO Mark Child provides Thomas Warner from Proactive with an update on the company's efforts to sell its La India Gold Project in Nicaragua.

The update follows news that Condor Chairman Jim Mellon has invested £1 million to extend the company's financial runway in support of a sale process that he still describes as "impressive".

Despite active discussions with potential buyers, including eight companies under non-disclosure agreements (NDAs) and three site visits, a final sale agreement has not been reached, primarily due to pricing considerations.

Child emphasises the company's commitment to maximising shareholder value and outlined his current engagements in Nicaragua, including meetings with the Chinese Embassy. He acknowledges the geopolitical challenges associated with operating in Nicaragua, particularly due to U.S. sanctions, but stressed the government's supportive stance towards mining and the country's stability compared to other regions.

The CEO also discussed Condor Gold's alternative strategies, including smaller-scale operations and a pilot plant, but the board currently prefers to sell the assets. He pointed out the project's economic viability, citing the feasibility study's projection of 80,000 to 250,000 ounces of gold per year at a cost significantly lower than the gold price.

Child remains optimistic about the project's future, expecting increased interest in 2024 due to favourable gold market trends and potential mergers and acquisitions in the sector.

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Idaho Copper (OTC:COPR) Chief Operating Officer Andrew Brodkey speaks to Thomas Warner from Proactive progress on what he describes as one of the largest undeveloped copper projects in the Americas and the world's biggest undeveloped molybdenum property.

He explains that the company's Project is located near Boise, Idaho, a region known for its mining-friendly policies and substantial workforce. With over 4 billion pounds of copper, 1.6 billion pounds of molybdenum, and 180mln ounces of silver in measured and indicated resources, the project shows immense potential.

Furthermore, Brodkey discussed technological advancements, like ore sorting, which could significantly enhance the project's efficiency and reduce capital costs from $3 billion to under a billion.

Brodkey anticipates a substantial increase in the project's net present value, previously estimated at $356 million over a 30-year mine life. The updated preliminary economic analysis, expected in mid-2024, is likely to reveal the project's enhanced value.

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Ethernity Networks Ltd (AIM:ENET, OTCQB:ENETF) chief executive David Levi speaks to Proactive's Thomas Warner after the networking and security software solutions company released a trading update for calendar year 2023 - a year Lev himself describes as "extremely challenging."

Levi starts by talking about some of the positives from the year, noting what he calls the collection of $4.5mln, an increase in gross margin and the announcement of an improvement in the company's cash position during the second half. He describes the action taken during the second half as a "successful revival of the business operation."

He goes on to talk about his hopes for 2024, saying that he expects to generate positive cash flow, saying "all in all we completed product development, and now is the time to monetise the business based on what he have developed."

"The major thing for investors is that... we plan to operate a positive cash flow but we need in order to do that we need to improve our balance sheet to attain new customers."

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