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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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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ETC Group CEO on Bitcoin's wild ride to a new high and why Ethereum could be the next big thing
HANetf Holdings Limited
ETC Group's CEO Tim Bevan shares insights on the current Bitcoin market dynamics and the impact of ETFs in the United States with Proactive's Stephen Gunnion. Bevan noted the unexpected rapid inflow of approximately $18 billion into Bitcoin ETFs within six weeks, highlighting the iShares product's substantial single-day intake of over $750 million. This surge has led to unprecedented market conditions, with Bitcoin reaching an all-time high before experiencing significant volatility, demonstrating the challenging environment for predicting short-term price movements. Despite the uncertainty, Bevan maintains a bullish outlook for Bitcoin, anticipating it could surpass $100,000 by year-end, with some predictions suggesting a peak of over $250,000. Bevan also addressed Ethereum's performance, noting its year-to-date return of 63% and its potential for greater upside compared to Bitcoin. He described Ethereum as akin to a tech company, emphasizing its role as the underlying architecture of Web 3.0 and its rapid adoption curve. Bevan likened investing in Ethereum to discovering Microsoft pre-Windows, highlighting its attractive valuation compared to large tech stocks. ETC Group has launched a new Ethereum staking product, capturing the staking yield from validating transactions on the Ethereum network, which Bevan describes as integral to Ethereum's economic profile. He also mentioned the broader cryptocurrency market, suggesting that attention might eventually shift to altcoins as investors explore the sector's diversity. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
March 08, 2024 09:41 AM Eastern Standard Time
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Eco Atlantic Oil & Gas announces biggest deal to date with Orange Basin farmout
Eco (Atlantic) Oil & Gas Ltd
Eco (Atlantic) Oil & Gas Ltd has announced a significant agreement involving a 13.75% participating interest in their Orange Basin Block 3B/4B, with strategic partners TotalEnergies and QatalEnergy. This deal, described as the largest in the company's history, is noteworthy for several reasons. Firstly, Total Energies, now the operator, brings a deep understanding of the Orange Basin, enhanced by its recent discoveries in the same geology in Namibia. Secondly, the strategic location of Eco's block, adjacent to other areas operated by Total Energies, promises synergies, especially since Total Energies possesses drilling rigs in the vicinity, ensuring operational readiness. Financially, the transaction is expected to significantly bolster Eco's cash position by almost $20 million, positioning the company five times above its current standing upon commencement of drilling. Moreover, Eco is fully carried for the forthcoming exploration activities, potentially covering two wells on the block. The total transaction value could reach over $32 million, encompassing both cash and the value of the carry for Eco’s remaining work interest. The agreement includes milestone payments, contingent upon deal completion, regulatory approvals, and the commencement of drilling. The drilling schedule is under Total Energies’ discretion, anticipated within the next 12 to 18 months. Following this farmout, Eco aims to replicate its success in other ventures, focusing on its Guyana and Namibian assets, with ongoing discussions for potential partnerships expected to culminate in 2024. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
March 08, 2024 09:38 AM Eastern Standard Time
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Oncimmune's strategic pivot aims for robust growth in 2024
Oncimmune Holdings PLC
Oncimmune Holdings PLC (AIM:ONC) CEO Martin Gouldstone joins Proactive's Stephen Gunnion with highlights of the company's 2023 performance, which included its strategic decision to focus on its ImmunoINSIGHTS platform. A significant development was the sale of its early lung cancer detection business to US biotech company Freenome, generating substantial funds. This capital was utilised partly to reduce existing company debt and, importantly, established a five-year master service agreement (MSA) with Freenome, guaranteeing Oncimmune a minimum of £1.3 million in service revenues on a use-it-or-lose-it basis, with a two-year break clause. This deal not only provided immediate financial benefit but also assured a steady revenue stream for at least two years. Gouldstone emphasized the company's focus on its ImmunoINSIGHTS service platform, highlighting its commercial and scientific potential. Since his tenure began in August last year, Gouldstone said he has been dedicated to maximizing the platform's commercial impact and scientific capabilities. The strategic redirection towards new commercial areas and customer segments was marked by the announcement of a new strategy in October, followed by securing seven contracts in novel commercial domains, including repeat business with large pharmaceutical companies and new engagements in biotech. These contracts span discovery and adverse event prediction in immuno-oncology, reflecting the strategic diversification efforts. With the commercial team nearing completion, Oncimmune anticipates a tangible impact on revenues towards the end of 2024, with an aim to further expand the sales team in the US by FY25. Looking ahead to 2024, Oncimmune has projected a revenue target of £3 million, marking at least a 150% increase from the previous year and setting a record high for the company's operations in Germany. This ambitious forecast underscores the company's strategic refocus, relaunch, and consolidation efforts aimed at sustaining growth and delivering improved financial performance in the coming years. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
March 08, 2024 09:35 AM Eastern Standard Time
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Galliford Try reports strong half-year performance with positive future outlook
Galliford Try Holdings PLC
Galliford Try Holdings PLC (LSE:GFRD) Finance Director Andrew Duxbury shares insights into the company's half-year results in an interview with Proactive's Stephen Gunnion. Galliford Try, a leading UK construction company, is known for delivering profitable, predictable results, focusing on non-cyclical sectors across the UK like schools, hospitals, prisons, roads, and water treatment works. Duxbury noted that the company reported a strong performance for the half-year ending December 2023, with notable increases in revenue, divisional operating margin, profit before tax, and interim dividends. This growth was attributed to excellent operational execution, people, supply chains, and strong risk management practices. Revenue was up 21% from the previous year, with a 2.5% divisional operating margin, up from 2.3%, and a 33% increase in profit before tax, alongside a 50% rise in earnings per share, resulting in a 33% hike in the interim dividend to four pence per share. Duxbury expressed confidence in the company's future performance, citing eased macroeconomic challenges and a strong order book that provides visibility beyond the election cycle. Growth has been consistent across its building and infrastructure divisions, with significant contract wins including a £3.2 billion affordable housing framework and the acquisition of engineering specialist AVRS, enhancing its water business capabilities. Investors can expect an update on the company's strategy at a capital markets event in May, outlining plans for growth beyond 2026 through to 2030, based on a strong balance sheet and disciplined risk management. Duxbury highlighted the company's momentum, non-cyclical market sectors, robust order book, and committed team as key investment highlights, underscoring Galliford Try's sustainable growth strategy. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
March 08, 2024 09:32 AM Eastern Standard Time
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Empire Metals reveals "unprecedented" titanium discovery at Pitfield Project
Empire Metals Ltd
Empire Metals Ltd managing director Shaun Bunn discussed the preliminary results from mineralogical and metallurgical testing at the Pitfield project in an interview with Proactive's Stephen Gunnioin. Bunn said the findings highlight the project's potential, particularly its unique position in the titanium market. A significant discovery is the high concentration of titanite, a calcium titanium silicate, which constitutes about two-thirds of the titanium dioxide in the deposit. This is unusual as titanite typically makes up only a small fraction of a deposit's composition. Bunn said the presence of titanite simplifies the mining and processing phases due to its non-refractory nature, allowing for low-cost and efficient extraction and processing methods, including a simple leaching process to produce titanium dioxide. Moreover, current market dynamics could significantly enhance the economics, aiming to produce a product that could potentially fetch a much higher market price compared to conventional sources. Bunn outlined the next steps for development, including the recruitment of industry experts and plans for a demonstration plant in 2025. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
March 08, 2024 09:30 AM Eastern Standard Time
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