News Release
OzAurum Resources kicks of diamond drilling at Boca Rica Lithium Project in Brazil
OZAURUM RESOURCES LIMITED
OzAurum Resources Ltd (ASX:OZM) has commenced drilling at the Boca Rica Lithium Project in Brazil, using its own drilling rig which has been updated to meet Australian standards. CEO and managing director Andrew Pumphrey tells Proactive's Stephen he has been in Brazil for the past few weeks preparing the site. The company has achieved significant milestones in enhancing site access and positioning the drilling rig on a steep hill. The drilling program is set to explore below a weathered zone, aiming to reach fresh rock at approximately 80 metres depth, targeting a spodumene crystal formation previously discovered in an underground adit. This zone is anticipated to yield more extensive geological data and potential significant lithium deposits. OzAurum is financially prepared for this phase, with cash of A$1.4 million and benefiting from lower operational costs due to owning its drilling equipment. Pumphrey said this cost-efficiency allows flexibility in its ongoing diamond drilling programme. The results from the first drill hole will guide future drilling efforts. Pumphrey also mentioned that sample analysis by Brazilian labs could take about a month, with results expected to influence the next steps in their exploration. Contact Details Jonathan Jackson +61 413 713 744 jonathan@proactiveinvestors.com
April 16, 2024 07:24 AM Eastern Daylight Time
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News Release
Bannerman Energy CEO discusses progress at Etango uranium project and market dynamics
Bannerman Energy Ltd
Bannerman Energy Ltd CEO Gavin Chamberlain takes Proactive's Stephen Gunnion through progress at the company's flagship Etango uranium project in Namibia. The Etango project, highlighted in a December 2022 definitive feasibility study (DFS), aims to exploit a significant uranium resource, initially targeting 60 million tonnes out of an identified 220 million in the 8 Mtpa Etango development (Etango-8). Chamberlain also outlined recent developments, including the completion of Etango-XP and Etango-XT scoping study to assess the potential expansion of the Etango project. The expansion could potentially double the project's capacity to 16 Mpta in response to favourable uranium market conditions. Furthermore, Bannerman Energy is in the funding phase, having secured essential permits and initiated key construction contracts. The CEO anticipates that strategic financing initiatives and utility contracts will support the project's progression. He remains optimistic about the uranium market, predicting continued price increases due to a tightening supply-demand balance. Contact Details Proactive Australia Pty Ltd Proactive Australia Pty Ltd +61 431 597 771 writers.australia@proactiveinvestors.com
April 16, 2024 07:22 AM Eastern Daylight Time
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Pan African Resources CEO provides upbeat outlook amid high gold prices
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 experiencing a positive impact from the current high gold price, which recently crossed $2,400 an ounce. Loots pointed out the robust gold price has been supported by significant purchases from central banks and changes in US interest rates. Pan African Resources, a South African company, benefits further due to its costs being in Rand, enhancing profits when converted from the strong dollar-based gold prices. Loots refrained from predicting future gold prices but acknowledged the beneficial effect of the current high prices, which could attract new investors and potentially lead to a revaluation of companies in the sector. Despite the high gold prices, he noted that Pan African's projects are profitable even at lower prices. He specifically mentioned the Mentails tailings retreatment project, which is under construction with capital costs largely fixed, expected to reach completion by the end of the year. The current gold prices could allow for the project's capital to be recouped in under three years. Other projects like Barberton and Evander are also performing well due to the favourable gold price environment. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
April 16, 2024 07:19 AM Eastern Daylight Time
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Helix Exploration partners with Petroleum Consultants as it advances towards drilling campaign
Helix Exploration PLC
Helix Exploration PLC chairman David Minchin discusses a strategic partnership with Petroleum Consultants in an interview with Proactive's Stephen Gunnion. This collaboration is part of Helix's phase-one work programme, aimed at progressing its drilling campaign at the Ingomar Dome, slated for the third quarter of this year. Minchin highlighted the partnership's critical role in leveraging the firm's local presence in Billings, Montana, and its extensive network of contacts, which will enable rapid and cost-effective service delivery. The expertise of Petroleum Consultants, coupled with the experience of Helix CEO Bo Sears, who possesses nearly 25 years of experience in helium exploration, is expected to ensure the safe and successful delivery of the upcoming drilling campaign. Additionally, Minchin outlined the next steps in the company’s appraisal well programme, which includes signing binding contracts with service providers and initiating advanced engineering and construction with the goal of producing gas by the end of 2025. Contact Details Proactive UK +44 20 7989 0813 UKEditorial@proactiveinvestors.com
April 16, 2024 07:17 AM Eastern Daylight Time
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News Release
European Green Transition reaches new milestones at Olserum rare earths project in Sweden
European Green Transition PLC
European Green Transition PLC (AIM:EGT) CEO Aiden Lavelle takes Proactive's Stephen Gunnion through latest developments at the company's rare earths project in Sweden. Lavelle highlighted a community meeting held last week that aimed to engage local stakeholders. The meeting involved a geology review and explanations of the planned drilling operations at the Olserum site. Lavelle emphasized the project's alignment with the EU's strategy on critical raw materials and its importance in securing domestic supplies. The community responded positively to the project’s potential benefits, Lavelle said. Additionally, Lavelle mentioned the successful conclusion of consultations for drill permitting, which fits well with the company’s timeline. Drilling is scheduled to start in August, following the July summer holidays in Sweden. This timeline allows the company to proceed with exploration drilling and resource infill drilling as planned. The Swedish Geological Survey's recent involvement was also discussed. They visited the site to assess the new exploration model developed by European Green Transition. This model has been updated based on recent fieldwork, including rock sampling and magnetic surveys, revealing new mineralization areas and enhancing the geological understanding of the region. This visit aligns with their broader efforts to map the geology of Kalmar County, which is expected to continue over the next few years. Contact Details Proactive UK +44 20 7989 0813 UKEditorial@proactiveinvestors.com
April 16, 2024 07:15 AM Eastern Daylight Time
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Itaconix announces record revenue and improving gross margin for 2023, eyes diverse growth
Itaconix PLC
Itaconix PLC (AIM:ITX, OTCQB:ITXXF) CEO John Shaw tells Proactive's Stephen Gunnion the company achieved a record year in 2023 with a revenue of $7.9 million, marking a compound annual growth rate of over 40% across the last five years. Shaw highlighted significant financial achievements, including an increase in gross profit margin to 31%. This improvement is strategic as it focuses on capturing value in polymer ingredients and formulations. The company's EBITDA losses are aligning with market expectations, supported by a successful fundraising event which enhances the company's financial flexibility for future growth. Operational growth was mainly driven by the cleaning sector in North America and Europe, with continued expansion expected, particularly through new applications in beauty and hygiene. However, ongoing negotiations with major merchandisers have led to a revision of revenue expectations for 2024, now projected between $6 million and $6.5 million. This adjustment is part of a broader strategy to diversify customer and application bases, ensuring long-term profitability and value capture. Looking ahead, Shaw said Itaconix plans to focus on higher-margin revenue streams, both from existing and new customers. The company is also investing in new products and processes, notably in leather and sustainable paint applications, leveraging recent technology upgrades. These initiatives are part of Itaconix's long-term goal to become a significant player in the specialty ingredients market, with aspirations to reach a $100 million revenue target. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
April 16, 2024 07:13 AM Eastern Daylight Time
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CleanTech Lithium chairman assures that it is business as usual following CEO's resignation
CleanTech Lithium PLC
CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF) executive chairman Dr Steve Kesler joined Proactive's Stephen Gunnion after stepping into the role of interim CEO role following the resignation of Aldo Boitano for failing to disclose a loan that used his holding in the Chile-focused group as collateral. Despite Boitano's resignation, Kesler assured shareholders that the company’s projects in Chile, including drilling, hydrogeology, pilot plant operations, and environmental work, will continue unaffected. Kesler, with over 30 years of experience in the Chilean mining industry, anticipates a seamless transition. Boitano will continue as a consultant during this transition period, maintaining key relationships. CleanTech Lithium is also preparing for an ASX listing and searching for a new CEO to support this effort. Kesler said the company has made significant advancements in lithium production, achieving a milestone by producing lithium chloride through their direct lithium extraction process. Current efforts are focused on refining this product at the pilot plant to achieve battery-grade lithium carbonate, which they plan to ship for conversion in Chicago soon. Kesler indicated that substantive discussions with potential off-takers would begin post the completion of the Pre-Feasibility Study (PFS) to demonstrate the resource size and economics. Regarding market dynamics, despite fluctuations in lithium prices, Kesler said he is confident that CleanTech Lithium's operational costs position them advantageously. They anticipate maintaining profitability under various price scenarios, supported by a cost structure significantly lower than current market prices. Contact Details Proactive UK +44 20 7989 0813 UKEditorial@proactiveinvestors.com
April 16, 2024 07:10 AM Eastern Daylight Time
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Crossword Cybersecurity reports strong performance of cybersecurity monitoring service in Caribbean
Crossword Cybersecurity PLC
Crossword Cybersecurity PLC (AIM:CCS) group managing director Stuart Jubb tells Proactive's Stephen Gunnion that the company's Nightingale cybersecurity monitoring service performed well in the first quarter after expanding into the Caribbean. Jubb told Proactive the company has established a partnership with a local cybersecurity firm founded by entrepreneurs, addressing a significant gap in cybersecurity support in the region. This partnership has led to significant contracts with major companies in the Caribbean, enhancing Crossword's presence and reputation locally. Nightingale is a monitoring software installed in data centres to oversee laptops and PCs, providing early warnings of any unusual access patterns, which can indicate potential security threats. This service is becoming increasingly crucial as Caribbean countries, with growing international business interests and natural resources, begin to recognise the importance of cybersecurity. The local partner, now a preferred security provider, is also offering consultancy services, aiding companies in developing comprehensive cybersecurity strategies. This approach mirrors Crossword's successful strategies in other markets, with plans to replicate this model in additional English-speaking and Commonwealth countries. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
April 16, 2024 07:08 AM Eastern Daylight Time
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KEFI Gold and Copper chairman says 'stars are aligning' with gold at $2,400
KEFI Gold and Copper PLC
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) executive chairman Harry Anagnostaras-Adams tells Proactive's Stephen Gunnion that "the stars are aligning" as gold continues to reach record highs as the company prepares to trigger production at its Tulu Kapi gold project in Ethiopia. Gold at around $2,400 per ounce aligns perfectly with KEFI's plans to commence construction. This historic high in gold prices is expected to greatly enhance the company's net cash flow, with projections reaching around $90 million after expenses, Harry Anagnostaras-Adams said. In Ethiopia, where production is expected to start within two years, the impact is most immediate and substantial, enhancing project economics significantly. Its Saudi Arabian projects, while further behind, are expected to see similar benefits in the longer term. Anagnostaras-Adams also highlighted industry trends, noting consolidation among African gold developers and predicting a positive knock-on effect on acquisitions and asset trading due to increased cash flows for producers. Discussing the future, he remained cautiously optimistic about maintaining high gold prices, bolstered by strong historical demand and current geopolitical tensions. Anagnostaras-Adams concluded with updates on project approvals and progress in Ethiopia and Saudi Arabia, underscoring compliance with timelines and the beneficial effects of current commodity prices on KEFI's operations. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
April 16, 2024 07:06 AM Eastern Daylight Time
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