Galileo Mining Ltd (ASX:GAL, OTC:GLMGF) MD Brad Underwood speaks with Proactive soon after welcoming exploration results from reverse circulation (RC) drilling at the emerging Jimberlana South and North Callisto prospects at the 100%-owned Norseman Project in Western Australia. He says the next round of drilling is due to start this week with first-pass drilling at the South Callisto prospect and new drilling at North Callisto. Meanwhile, a regional geophysical IP surveying designed to generate new drill targets is scheduled to kick off later this month.

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Leeuwin Metals Ltd (ASX:LM1) MD Chris Piggott tells Proactive the company has achieved a significant milestone on kicking off field activities at its Cross Lake Lithium Project in Manitoba, Canada. The critical minerals explorer is conducting a focused exploration program to define targets, using mapping and geochemical sampling to pave the way for future drilling. This fieldwork follows successful re-assaying of historical drill core for lithium which revealed high-grade lithium with multiple, shallow, significant intercepts of spodumene-bearing pegmatites, reaching up to 1.75% lithium oxide.

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Lightning Minerals Ltd (ASX:L1M) MD Alex Biggs tells Proactive the company has begun an inaugural exploration program at its Dalmas and Hiver lithium projects in the James Bay region of Quebec, Canada. Lightning intends to identify potential lithium-caesium-tantalum (LCT) hard rock lithium pegmatites to develop into drill targets, beginning with ground reconnaissance work including mapping and rock chip sampling. The groundwork will focus on areas of interest identified with data from multispectral analysis, forming seven clustered areas.

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St George Mining Ltd (ASX:SGQ) chairman John Prineas tells Proactive the company has returned to the Mt Alexander Project in the Mt Ida region of Western Australia to continue lithium exploration, targeting several extensive pegmatite targets along a regional lithium-caesium-tantalum (LCT) corridor. SGQ is employing soil sampling, pegmatite field mapping and outcrop sampling over two main targets. Mt Alexander enjoys a prime position along the contact between the Mt Alexander greenstone belt and the Copperfield Granite formation, part of a large LCT pegmatite corridor host to Delta Lithium’s 14.6 million tonnes at 1.2% lithium resource.

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Kootenay Silver CEO Jim McDonald provided significant updates on the company's ongoing drilling program at the Columba Silver Project in Chihuahua, Mexico, during an interview with Steve Darling from Proactive.

McDonald discussed the importance of the drill holes, which are part of a 12-to-15-hole campaign designed to extend known mineralization on the "D-Vein" target area at Columba. These holes are crucial as they increase the volume of mineralization in the D Vein shoot with impressive grades and widths.

One highlight from the drilling program is hole CDH-23-138, which revealed 13.56 meters core-length averaging 599 gpt silver, 0.5% lead, and 1.2% zinc from 182.94 meters downhole. These results support the working thesis along the D Vein and provide valuable evidence as the company progresses toward establishing a maiden resource for the project in late 2024.

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OTC Markets Group EVP of Corporate Services Jason Paltrowitz joined Steve Darling from Proactive to share some compelling findings from a study conducted by the OTC Markets. This study aimed to evaluate the performance of all Initial Public Offerings (IPOs) that took place on the NASDAQ CM and NYSE AMEX markets in 2022, totaling 91 deals.

One striking aspect of the study was the snapshot of the market cap of these companies the day after the offering, which averaged at an impressive $213 million. However, a mere 28 days post-IPO, this average had dipped significantly to $102 million, and the current average currently rests at a more modest $56 million. These figures underscore the dynamic nature of the market and the challenges these newly listed companies face in maintaining their initial valuations.

The study's findings revealed some alarming statistics, with a staggering 92% of IPOs experiencing negative rates of return from their offer price. The overall average total return across all these IPOs stood at a daunting -64.8%. Even more concerning was the fact that 34% of these companies found themselves on an exchange non-compliance list post-IPO, highlighting the difficulties they encountered in meeting regulatory requirements. Additionally, 51% of these newly listed firms resorted to reverse stock splits, either before or after their IPOs, raising questions about the alignment of interests within these companies.

Amidst these findings, the study underscores several crucial takeaways for companies contemplating an exchange raise. Companies need to carefully assess whether they are well-positioned for success post-capital raise, considering factors such as their size and stage of development. Equally important are considerations related to advisory fees, compliance expenses, and the potential dilution costs for existing shareholders.

Another critical consideration is the investor base, as companies should identify the type of investors participating in the offering – whether they are long-term holders or short-term intermediaries seeking to quickly flip discounted shares. Addressing these questions becomes essential for a successful exchange raise, as they directly impact a company's ability to navigate the complexities of the public market landscape effectively.

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ARway Corp Chief Product Officer Shadnam Khan joined Steve Darling from Proactive to share news the company has announce the availability of stock or custom augmented reality games as spatial experiences in the ARway studio.

ARway unveiling the availability of stock or custom augmented reality (AR) games as spatial experiences in the ARway studio. This strategic expansion aims to strengthen ARway's position as a leading innovator in AR technology and indoor spatial mapping.

Khan explained that AR gaming harnesses the potential of real-world environments by seamlessly blending them with interactive digital content, resulting in engaging and immersive experiences. AR games use sensors such as cameras, microphones, and GPS to detect the real world and overlay game visuals and audio, allowing for interactive and immersive gaming experiences.

Khan highlighted the various benefits of augmented reality in the gaming industry, including immersive gameplay, real-world interactions, social engagement, educational advantages, and significant opportunities for marketing and advertising. ARway's introduction of AR gaming experiences demonstrates its commitment to advancing the field of augmented reality and offering innovative solutions to its users.

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Nextech3D.ai CEO Evan Gappelberg joined Steve Darling from Proactive to share shared exciting news about the company's augmented reality offerings for trade shows and event organizers.

Nextech3D.ai has introduced a new Augmented Reality Mobile Event App designed for trade shows and event organizers. Gappelberg revealed that this app now features 10 out-of-the-box AR games, creating opportunities for sponsorship and engagement at events. This integration allows events to monetize the airspace through AR sponsorships and offer 3D/AR mobile games and immersive experiences, enhancing the event experience for attendees.

By incorporating AR technology into the event app, Nextech3D.ai is helping event organizers tap into a new revenue channel while also providing attendees with a unique and engaging experience. The company's white glove deployment and sponsorship sales services further support event organizers in maximizing the potential of AR at their events.

Overall, this technology is poised to revolutionize the way trade shows and events are experienced, providing new opportunities for engagement, sponsorship, and interaction.

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Aclara Resources CEO Ramon Barua joined Steve Darling from Proactive to shared significant news regarding the company's recent auger drilling campaign at the Carina Module in Brazil.

Aclara Resources has reported the results of its initial auger drilling campaign, which encompassed 1,693 meters of drilling across 236 drill holes. This work took place at the Carina Module, located in the northeastern part of central Brazil and accessible via paved roads.

Costa highlighted the discovery of a new Heavy Rare Earth Element (HREE) deposit hosted in ionic clays. The drilling program reached shallow depths, with an average depth of 7.2 meters, and revealed the potential for expansion, both laterally and at depth, with the prospect of enhancing HREE grades.

Furthermore, Costa noted that the mineralized area of the Carina Module spans approximately 1,400 hectares, with the potential for lateral expansion. In comparison, the mineralized area of the company's Penco Module in Chile covers approximately 140 hectares.

These findings mark a significant development for Aclara Resources, showcasing the potential for a substantial HREE deposit in Brazil. The company's continued exploration and assessment efforts in the region are aimed at unlocking the full value of this discovery and advancing its mining endeavors in the rare earth elements sector.

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Pegasus Resources' CEO, Chris Timmins, joined Steve Darling from Proactive to provide an update on the company's plans and activities.

Timmins shared that Pegasus Resources is actively preparing for its inaugural drill program at the Pine Channel Uranium Property, located in the Athabasca Basin. This drilling program marks a significant milestone for the company as it seeks to explore and potentially develop uranium resources in this prolific mining region. Notably, Pegasus Resources has received the necessary Permit for Diamond Drilling from the Saskatchewan Ministry of Environment, a key step in advancing its exploration efforts.

Timmins also discussed the successful conclusion of the company's 2023 ground exploration program at the Punch Bowl property within the Golden Project in southeastern British Columbia. During this program, Pegasus Resources collected a total of 25 rock samples, identifying several new quartz veins measuring up to 0.5 meters in width. Of particular note, 11 of these rock samples were obtained from the Punch Bowl area, where previously unidentified quartz veins were found, measuring up to 1 meter in width and up to 80 meters in length.

These developments highlight Pegasus Resources' commitment to advancing its projects and exploring the potential of its properties in both the uranium and precious metals sectors.

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