News Release
NetScientific CEO hails deal with Martlet Capital as an important milestone
NetScientific PLC
NetScientific PLC (AIM:NSCI) CEO Dr Ilian Iliev takes Proactive's Stephen Gunnion through a transaction that will see NetScientific company EMV Capital become the investment advisor to Martlet Capital's portfolio of 53 investments while acquiring its operational venture capital business. Iliev said the transaction is part of NetScientific's strategic goal to become a leading deep tech and life sciences venture capital investor in the UK and Europe, employing a differentiated investment strategy characterised by proactive value creation and capital-light approaches. The deal notably expands NetScientific's assets under management by nearly doubling them with the addition of a £23 million portfolio from Marlet Capital and includes the acquisition of Martlet Capital’s operational team, forming a new entity under NetScientific. Iliev emphasised the alignment in ethos between NetScientific and Martlet Capital, rooted in long-term relationships and mutual commitment to the sectors. He also highlighted upcoming initiatives, including the launch of new funds aimed at investing in early-stage companies and growth opportunities within the UK, specifically in the Cambridge cluster. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
May 13, 2024 10:55 AM Eastern Daylight Time
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News Release
Pan African Resources expects to meet upper production guidance; progress on Mintails project
Pan African Resources PLC
Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN, OTCQX:PAFRF) CEO Cobus Loots tells Proactive's Stephen Gunnion the company is expected to meet the upper end of its production guidance for the year ending in June. This outcome could have been surpassed if not for a reduction in marginal surface throughput at its Evander operation, a decision driven by economic factors related to third-party tolling material. Additionally, progress continues on the construction of the Mintails tailings project, set to be commissioned later this year, with steady-state production anticipated by December. Loots also touched on developments at the Soweto cluster, part of the company's longer-term strategy at MTR. This cluster, along with the Mogale cluster, is expected to significantly extend the life and production capabilities of the mine. Initial estimates project a life span of over 20 years for the mine, with production cost-effectively under $1,000 per ounce, enhancing profitability, especially in the current favourable gold price environment. Loots also noted that while the company is focusing on completing the Mintails project, the final investment decision for the Soweto cluster will not be rushed, with further studies and permitting still pending. Overall, operations across the company’s portfolio are progressing well and in line with guidance. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
May 13, 2024 10:52 AM Eastern Daylight Time
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Foresight Solar Fund eyes growth and Spanish expansion amid market challenges
Foresight Solar Fund Ltd
Foresight Solar Fund Ltd (LSE:FSFL) fund manager Ross Driver joins Proactive's Stephen Gunnion ahead of a capital markets days with an overview of the company's strategy and performance. Driver outlined the company's initiatives, such as reducing debt, executing a share buyback programme, and investing in developmental stage assets to stimulate future growth. Despite a challenging 2023, the company reported a record year for cash generation, benefiting from high price fixes. Additionally, it utilised significant cash reserves to further the buyback, utilising £30 million of the allocated £40 million. Driver highlighted the challenges and opportunities within the UK and Spanish energy markets. In the UK, the Battery Energy Storage System (BESS) market has faced issues like reduced wholesale revenues and project overlooks by system operators, necessitating adjustments. Conversely, Spain offers a nascent market, promising due to its high solar penetration and favourable conditions for battery storage. Driver said Foresight Solar Fund aims to leverage early mover advantages in Spain, developing projects that fit well into the existing grid and anticipating double-digit returns from these initiatives. Overall, Foresight Solar Fund is focusing on maintaining strong yield and net asset value (NAV) preservation while looking for growth opportunities through development, targeting a 1-2% NAV increase over time. Contact Details Proactive Investors +44 20 7989 0813 uk@proactiveinvestors.com
May 13, 2024 10:49 AM Eastern Daylight Time
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Lisata Therapeutics gets 2024 off to a strong start as it prepares for crucial ASCEND trial results
Lisata Therapeutics Inc
Lisata Therapeutics Inc (NASDAQ:LSTA) CEO David Mazzo tells Proactive's Stephen Gunnion that 2024 is a pivotal year for the oncology company, with Phase 2b ASCEND trial top-line data expected in the fourth quarter. Discussing the company's first-quarter milestones, Mazzo said the results are anticipated to be foundational for the company's future, potentially leading to provisional approval applications in Australia and subsequent discussions with the FDA and EMA. Mazzo highlighted Lisata's effective cash management, with over $43 million in funds ensuring operations into 2026. The company has achieved several regulatory milestones, including orphan designations for pancreatic cancer and glioma in the EU and US, and a rare pediatric disease designation for osteosarcoma in the US. Additionally, Mazzo discussed the rapid progress of the BOLSTER trial in cholangiocarcinoma, expected to provide early data points in 2025. The company plans to expand its trials and anticipates potential partnership announcements by year-end, driven by these developments. Contact Details Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com
May 13, 2024 10:45 AM Eastern Daylight Time
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HANetf's Hector McNeil discusses shifting investment focus beyond 'Magnificent Seven'
HANetf Holdings Limited
HANetf co-founder and co-CEO Hector McNeil suggests a strategic shift in investment from dominant tech stocks to broader tech themes. In an interview with Proactive's Stephen Gunnion, McNeil advocated diversifying away from the 'Magnificent Seven,' big tech firms, due to their high PE ratios and concentration risks. He highlights the potential of broader tech investments, particularly through ETFs that offer diversified exposure across various tech sub-sectors, including robotics, cybersecurity, and digital entertainment. McNeil emphasised the benefits of equal-weighted ETFs, such as the HAN-GINS Tech Megatrend Equal Weighted UCITS ETF (ITEK) which ensures no single stock dominates the index, providing a balanced investment approach. Additionally, he explored opportunities outside the traditional tech sector, particularly in emerging markets. McNeil underscored the growth potential in the e-commerce sector within these markets, driven by high growth rates and an absence of state-owned enterprises. He pointed out specific ETFs like the EMQQ Emerging Markets Internet & Ecommerce UCITS ETF (EMQQ), which focuses on major market e-commerce, and discussed the significant gains of companies like Pinduoduo and Tencent. McNeil also mentioned the Future Defense UCITS ETF (NATO), which has gained traction by capitalising on the rising importance of cybersecurity in global defence strategies. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
May 13, 2024 10:43 AM Eastern Daylight Time
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Ilika CEO discusses £3.4 million capital raise to fund development of Goliath solid-state batteries
Ilika PLC
Ilika PLC CEO Graeme Purdy joined Proactive's Stephen Gunnion with details of a share placing and open offer to retail investors aimed at raising up to £3.4 million. Purdy explained the capital injection is targeted at furthering the development of its Goliath technology. The company recently entered into a 12-month collaboration with Tata Group subsidiary Agratas to evaluate Goliath technology, during which Ilika intends to achieve its remaining milestones. Additionally, Ilika plans to use the funds to upgrade its dry room facilities to handle moisture-sensitive materials more effectively. This involves lowering the dew points to reduce environmental humidity, crucial for its leading-edge battery development. The capital will also help in enhancing its testing facilities to accommodate larger battery sizes, which are necessary to meet increased power requirements and customer expectations. Purdy highlighted key achievements including reaching the D4 development point and approaching the D8 milestone, which is set for Q1 2025. The advancements aim at achieving lithium-ion energy density parity and improving battery performance. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
May 13, 2024 10:40 AM Eastern Daylight Time
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Light Science Technologies secures first distribution agreement with South Africa's AgriLogiq
Light Science Technologies Holdings PLC
Light Science Technologies Holdings PLC (AIM:LST) Simon Deacon joined Proactive's Stephen Gunnion with details of its first distribution agreement for its nurturGROW lights with AgriLogiq Technical Systems. The partnership aims to enhance the South African agricultural sector by leveraging controlled environment agriculture technology, addressing challenges like extreme weather and pests. Deacon highlighted the increasing difficulty of traditional farming in South Africa and how technology can improve yield in indoor environments. nurturGROW is a line of lighting solutions designed for various crops, offering enhanced yields and returns. The agreement with AgriLogiq is set for five years, with potential extensions and opportunities for collaboration in other markets. Deacon outlined the company’s strategy to expand its distribution network, focusing initially on significant growth areas in South Africa, where the market is valued at $3.7 billion. Plans for further expansion include New Zealand, Australia, the Middle East, and the Americas, with the controlled environment agriculture market in these regions representing a significant opportunity, evidenced by a quoted pipeline of over $50 million. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
May 13, 2024 10:38 AM Eastern Daylight Time
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Atlantic Lithium discusses key project developments and Ghana Stock Exchange listing
Atlantic Lithium Limited
Atlantic Lithium Ltd (AIM:ALL, OTCQX:ALLIF, ASX:A11) Executive Chairman Neil Herbert and General Manager for Exploration Iwan Williams discuss several key updates in an interview with Proactive's Stephen Gunnion. Herbert shared his thoughts on Ganfeng Lithium's plan to take full control of the Goulamina Project in Mali, highlighting that it leaves Atlantic Lithium's Ewoyaa property in Ghana as one of the few remaining independent lithium projects in Africa slated for production. He noted the Ewoyaa project's low capital and operational expenses, deeming it significant for the lithium industry amid growing demand for electric vehicles and battery production, particularly in China. Williams, recently appointed to the post, elaborated on his extensive background in mineral exploration across Africa and beyond, bringing over 30 years of experience to his role at Atlantic Lithium. He detailed recent exploration activities, including drilling at the Dog-Leg target at Ewoyaa, aimed at expanding the mineral resource. Future plans include further drilling to explore depth extensions of pegmatite formations, indicating optimism for significant resource growth. Additionally, Herbert discussed the upcoming listing of Atlantic Lithium on the Ghana Stock Exchange, emphasising it as a milestone for local investment and a commitment made to the Ghanaian government. He also outlined ongoing offtake discussions and regulatory progress expected to significantly impact the company's funding and project development timeline. Contact Details Editorial +44 20 7989 0813 uk@proactiveinvestors.com Company Website https://www.proactiveinvestors.co.uk
May 13, 2024 10:35 AM Eastern Daylight Time
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Premier African Minerals reaches milestone at Zulu lithium plant with saleable spodumene concentrate
Premier African Minerals Ltd
Premier African Minerals Ltd (AIM:PREM, OTC:PRMMF) chief executive George Roach joined Proactive's Stephen Gunnion with an update on the company's Zulu lithium plant in Zimbabwe and the next steps to reach full capacity. Roach detailed the successful continuous operation of the plant's flotation circuit, which is now producing saleable spodumene concentrate. He discussed ongoing optimisations to enhance the plant's performance, including modifications to increase the energy used in the scrubbing process before flotation. He noted that spodumene recovery rates in lab tests were as high as 80-90%. Despite these advances, the plant is currently operating at only 50% of its designed throughput capacity, targeting 50 tonnes per day, with plans to rapidly scale up operations. Roach also highlighted the internal development of a new reagent that has contributed to higher-than-expected recovery rates. Additionally, Roach said he is in Harare to secure export permits, which are critical for scaling up production and distribution, emphasising the company's efforts to reach full capacity and regulatory compliance for exports in the near future. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
May 13, 2024 10:31 AM Eastern Daylight Time
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