News Release
Blackbird CEO Ian McDonough discusses 2023 achievements and launch of elevate.io
Blackbird PLC
Blackbird PLC CEO Ian McDonough joins Proactive's Stephen Gunnion with insights into the company's 2023 performance and upcoming milestones. McDonough described 2023 as a year of progress, highlighting Blackbird's significant presence in major sporting events due to its unparalleled speed and stability as a video editor. The company's technology was employed across numerous high-profile sports events, including all Tennis Grand Slams, the Super Bowl, the Women's World Cup, the Ryder Cup, and the Rugby World Cup, with plans to extend its use to the Summer Games in 2024. The discussion also introduced elevate.io, a new product aimed at the creator economy, which is a level below the professional sphere where Blackbird operates. Designed with input from 300 potential users, elevate.io targets independent filmmakers, podcasters, corporate video creators, and others within a market valued at approximately $250 billion, according to Goldman Sachs, expected to grow to $500 billion by 2027. The specific segment for tools and services is anticipated to expand from $20 billion to $180 billion by 2030. To support elevate.io 's growth, Blackbird has welcomed a new director, Anne de Kerckhove, and raised over a million pounds. The product, due for general release at the end of March, will start as a freemium model and aims to build a user community through its multiplayer and collaborative features, leveraging AWS for scalability. For 2024, McDonough foresees a pivotal period of learning from the market and community feedback to refine and expand elevate.io's offerings, with a focus on agile development based on user needs. Contact Details Proactive UK Proactive UK +44 20 7989 0813 UKEditorial@proactiveinvestors.com
March 08, 2024 11:04 AM Eastern Standard Time
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News Release
BenevolentAI CEO Dr Joerg Moeller discusses AI's impact on drug discovery
BenevolentAI
BenevolentAI CEO Dr Joerg Moeller tells Proactive's Stephen Gunnion how the company is positioning itself as a pioneer in AI-augmented drug discovery, aiming to enhance the success rates of drug development by identifying optimal targets early in the process. The company operates on three strategic pillars: advancing its proprietary pipeline of molecules for high medical need indications with limited treatment options, offering comprehensive drug discovery services through collaborations with notable industry partners such as AstraZeneca and Merck KGaA, and providing a Software as a Service (SaaS) platform for knowledge exploration. This multi-faceted approach not only drives BenevolentAI's scientific endeavours but also underpins its business model, which generates revenue through pipeline progression, collaboration milestones, and the innovative SaaS offering. A key example of the platform's validation is the repurposing of baricitinib, an Eli Lilly drug, for COVID-19 treatment based on BenevolentAI's insights. Dr Moeller's belief in AI's transformative potential in R&D is reinforced by the company's capabilities and the dedication of its team. Near-term milestones include anticipated results from a Phase 1a study of their lead program in ulcerative colitis, with strategic goals focusing on pipeline advancement, forging more partnerships, and exploring the viability of their SaaS model for sustainable growth. Contact Details Proactive North America Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com
March 08, 2024 11:01 AM Eastern Standard Time
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News Release
Africa Oil reaches new exploration milestone with strategic farm-out partnership in Orange Basin
Africa Oil Corp
Africa Oil Corp (TSX:AOI) Investor Relations Manager Shahin Amini discusses the company's new partnership with TotalEnergies and Qatar Energy for the exploration of Block 3B/4B in the Orange Basin. Amini told Proactive's Stephen Gunnion the collaboration marks a significant endorsement of the block's exploration potential, leveraging the expertise and resources of these notable energy companies. The value derived from this deal for Africa Oil is estimated at $46.8 million, including $10 million in staged payments. Africa Oil's stake will reduce to 17% from 26.25%, and the deal includes a cash component subject to achieving specific operational and regulatory milestones, and a carry agreement that could cover up to two exploration wells' costs. Amini noted that the strategic partnership allows Africa Oil to explore with "other people's money," aligning with their business model of early basin entry, comprehensive geological assessment, and then attracting resourceful partners for exploration financing. Additionally, Africa Oil, through its investment in Impact Oil and Gas Limited, has exposure to another promising block in Namibia, highlighting the company's significant acreage position off Southern Africa's coast. The next steps for Block 3B/4B include working with the new partners and operator to plan for a potential exploration well in 2025, with further developments to be coordinated with the operator. Contact Details Proactive North America Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com
March 08, 2024 10:58 AM Eastern Standard Time
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News Release
Mayfair Gold achieves 'A' ESG assessment with Digbee's guidance, aims even higher
Digbee Limited
Mayfair Gold CEO Patrick Evans and Digbee Ltd founder and CEO Jamie Strauss joined Proactive's Stephen Gunnion to discuss the significant progress Mayfair has made in enhancing its environmental, social, and governance (ESG) systems and performance. Since its inception three years ago, Mayfair Gold has consistently worked with Digbee to develop and refine its internal ESG frameworks. This collaboration has yielded positive results, with Mayfair Gold's ESG assessment scores improving from a double B to an A rating in 2023. This improvement is a testament to the company's commitment to continuous improvement and its responsiveness to feedback from Digbee. Evans noted that the focus on ESG has not only been beneficial internally but has also enhanced Mayfair Gold's engagement with a wide range of stakeholders, including investors, regulators, community members, and business partners, demonstrating the company's dedication to ESG principles. In the next 12 months, Mayfair Gold aims to further enhance its ESG performance by integrating environmental monitoring and diversity initiatives into its operations. The company plans to commence a pre-feasibility study on the Fenn-Gib gold project, incorporating water and atmospheric monitoring to inform its engineering studies and improve its ESG reporting. Additionally, Mayfair Gold is actively working to increase diversity within its workforce and board of directors, recognizing the value of diverse perspectives in risk mitigation and decision-making. Strauss explained that the evolving landscape of sustainability in the mining industry underscores the importance of continuous improvement in ESG practices. Companies like Mayfair Gold differentiate themselves by committing to transparency, responsibility, and sustainability, aligning with the sector's broader commitment to net zero and responsible mining. This approach not only benefits the environment and communities but also positions companies favourably in the eyes of investors and stakeholders, as the industry moves towards more sustainable and responsible mining practices. Contact Details Proactive UK Proactive UK +44 20 7989 0813 UKEditorial@proactiveinvestors.com
March 08, 2024 10:55 AM Eastern Standard Time
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News Release
CleanTech Lithium targets Q3 for Laguna Verde PFS to include current drilling and pilot plant data
CleanTech Lithium PLC
CleanTech Lithium PLC's Executive Chairman Dr Steve Kesler joined Proactive's Stephen Gunnion following the decision to delay the publication of the Pre-Feasibility Study (PFS) for the Laguna Verde lithium project in Chile to the third quarter of 2024. Kesler said this will allow the PFS to incorporate data from the current drilling season, field programme, and the Direct Lithium Extraction (DLE) Pilot Plant. The drilling aims to enhance the hydrogeological model for the project, facilitating the planning of extraction and reinjection wells. He said this effort is supported by consultants from Montgomery and Associates, specializing in lithium brine projects in South America. The expected outcome includes a higher quality resource and the maiden reserve determination, essential for estimating production capacity and mine life. The DLE Pilot Plant, facing initial delays due to equipment supply issues, is now in commissioning, with expectations to produce the first lithium in March. This plant will provide substantial data to optimise the full-scale plant's process and design, demonstrating the DLE technology's efficacy to potential offtakers and strategic partners, alongside producing battery-grade lithium carbonate. The inclusion of the pilot plant's data in the PFS, despite initial delays, is deemed crucial for engaging with potential partners, as it enhances the PFS's robustness. Kesler anticipates that this comprehensive PFS will attract additional strategic partners and expedite the Definitive Feasibility Study process. Furthermore, the emphasis on producing "green lithium" using renewable energy and low water consumption aligns with global sustainability goals, potentially increasing interest from offtakers in sectors pushing for sustainable supply chains. CleanTech Lithium is also progressing with its ASX listing, expected to complete in the second quarter, and plans to engage substantively with strategic partners and offtakers towards the year's end, bolstered by the PFS and pilot plant outcomes. Contact Details Proactive UK Proactive UK +44 20 7989 0813 UKEditorial@proactiveinvestors.com
March 08, 2024 10:52 AM Eastern Standard Time
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News Release
AdAlta delivers positive Phase I Extension Study results for AD-214
AdAlta Ltd
AdAlta Ltd (ASX:1AD) managing director Tim Oldham sits down with Proactive’s Jonathan Jackson to discuss encouraging outcomes from a Phase I extension study of their lead asset, AD-214, aimed at combating Idiopathic Pulmonary Fibrosis (IPF). This pivotal study assessed the target Phase II dose of AD-214 in healthy volunteers, marking a significant milestone in the drug's development pathway.The study's positive results have addressed the inquiries of potential partners. AD-214 exhibited a commendable safety profile, with consistent pharmacokinetics (PK) and pharmacodynamics (PD) across all doses and participants. This consistency bolsters confidence in the selected dose for Phase II studies. There was no evidence of adverse effects that could undermine efficacy, even with prolonged use, highlighting AD-214's potential as a treatment for IPF.With these results in hand, AdAlta is now engaging with a pipeline of potential partners to discuss licensing or asset financing transactions. Such agreements would provide the necessary support for the start of Phase II trials. Contact Details Proactive Investors Jonathan Jackson +61 413 713 744 jonathan@proactiveinvestors.com
March 08, 2024 10:30 AM Eastern Standard Time
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News Release
AuAg Funds founder and CEO explains why now is gold miners' time to shine
HANetf Holdings Limited
AuAg Funds founder and CEO Eric Strand joins Proactive's Stephen Gunnion with the latest developments affecting the gold price and gold miners included in the AuAg ESG Gold Mining UCITS ETF. Strand said gold prices near all-time highs is very advantageous for gold miners, despite a historical lag in their response to gold price increases. The costs for miners have stabilized while gold prices are rising, promising improved profitability. Strand emphasizes the leverage effect in gold mining, where a 20% increase in gold price could result in a 40% gain for gold miners, attributing this to the net return difference between gold prices and operational costs. Furthermore, he highlighted gold miners as undervalued, both in relation to gold and historically against the S&P 500. The current market dynamics, with strong holdings and reduced retail investor presence, present a ripe opportunity for valuation adjustments. Strand also notes a trend towards shareholder-friendly practices among miners, including reduced debt and cautious project investments, potentially avoiding past mistakes. Consolidation activities within the sector are acknowledged, with a preference for acquiring known entities over costly exploration. The mid-sized companies are viewed as prime targets for larger firms, indicating a dynamic market. Lastly, Strand projects a 20% rise in gold prices for the year, targeting nearly $2,500 by year-end, driven by anticipated lower interest rates and the sustaining momentum above $2100, which fosters a positive outlook for continued investment in gold. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
March 08, 2024 10:13 AM Eastern Standard Time
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News Release
Helium One sets sights on leading global helium production with Tanzanian project
Helium One Global Ltd
Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) chief executive Lorna Blaisse joins Proactive's Stephen Gunnion to recap what the company has billed as a transformational period. The drill stem test (DST) of the company's Itumbula West-1 well in Tanzania has measured a minimum flow rate of 0.5 million cubic feet per day, with a helium concentration of 4.7%. Encouragingly, Blaisse said the absence of other hydrocarbons position it uniquely in the global helium market. Blaisse said the interim results from the drill stem tests at Itumbula are encouraging, with the company planning an extended well test at the Tai-1 site to better understand the gas flow over a longer period. Helium One Global's pure helium play differs significantly from other helium sources, which are typically byproducts of hydrocarbon gas production, with lower helium concentrations. The company's high helium concentration and the absence of other gases allow for a smaller, more cost-effective processing plant design. Moving into an extended well test and appraisal phase, Blaisse said Helium One aims to transition from exploration to appraisal, leveraging its proprietary drilling rig for further exploration and potentially deepening the Tai-3 well. The rig is currently hot stacked, ready for quick deployment, with operations planned as early as the third quarter of 2024. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
March 08, 2024 10:11 AM Eastern Standard Time
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News Release
ImmuPharma CEO Tim McCarthy discusses financial stability and promising drug developments
ImmuPharma PLC
ImmuPharma PLC (AIM:IMM) chief executive Tim McCarthy provides an extensive update during an interview with Proactive's Stephen Gunnion, focusing on the financial, business, and portfolio developments of the company. McCarthy clarified that the company is in a strong financial position, dismissing rumours of needing a highly dilutive fundraising. He emphasized that ImmuPharma has sufficient funding for its needs, supported by a business model reliant on developing drugs to a stage attractive to larger pharmaceutical companies for further development and market introduction. This strategy, according to McCarthy, is expected to generate non-dilutive upfront payments and royalties from licensing agreements, particularly for their P140 platform focused on autoimmune diseases like lupus and CIDP (Chronic Idiopathic Demyelinating Polyneuropathy). McCarthy detailed progress on the lupus program, including changes to their clinical study approach and discussions with the FDA, highlighting the uniqueness of their molecule's mechanism of action. This uniqueness, McCarthy pointed out, has garnered interest from big pharma, distinguishing their lupus treatment from others that failed due to efficacy or side effects issues. Moreover, he announced advancements in the CIDP program and the company's intention to achieve orphan drug designation for it, promising significant market potential despite its smaller patient population compared to lupus. The CEO also touched on an early-stage anti-infective program, underscoring the evolution of ImmuPharma's drug portfolio over the last two and a half years under his leadership. This transformation involved corporate restructuring, significant cost reductions, and strategic focus on developing a diversified drug portfolio. McCarthy concluded by affirming the company's position as substantially undervalued based on its developmental and financial assets, particularly highlighting a major interest in the oncology company Incanthera, which recently secured a substantial commercial deal with AS Watson. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
March 08, 2024 09:48 AM Eastern Standard Time
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