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ECR Minerals #ECR CEO Craig Brown talks to Steve Darling at Proactive Investors. Craig provides an update on its current aggressive drill programs in Victoria, Australia at its flagship Bailieston and Creswick projects.
Craig also discusses the objectives of the drill campaigns and the arrival of a third multi-purpose rig which is due on site shortly. Brown also discusses recent developments in the Philippines as well as funding and offers up his thoughts on the gold price and what it means for the company’s projects.
ECR Minerals PLC’s (LON:ECR) CEO Craig Brown and director and geologist Adam Jones update Proactive on drilling at its Creswick and Bailieston gold projects in Victoria, Australia.
ECR’s this week announced it has intersected gold with the first hole drilled into the Dimocks Main Shale (DMS) at Creswick. The first four drill holes at the project are now complete.
Adam Jones comments on the quality of both prospects, and says Creswick is coming up fast behind Bailieston for prospectivity… ‘a mine at both places’
Proactive’s Andrew Scott talks to ECR Minerals #ECR CEO Craig Brown about Bailieston, Creswick and Queensland
ECR Minerals PLC‘s (LON:ECR) Craig Brown speaks to Proactive following the news it’s applied for three new licences in the north of Queensland, Australia. The permits cover a total 900sq km of highly prospective ground located within the Lolworth Range, 200km WSW of Townsville and 30km north from Pentlands. Brown also updates on drill programs which are progressing at its Bailieston and Creswick gold exploration projects in the Victoria Goldfields, Australia. They are 100%-owned by ECR’s wholly owned Australian subsidiary Mercator Gold Australia.
ECR Minerals’ (LON:ECR) Craig Brown caught up with Proactive’s Andrew Scott following the news their newly acquired drill rig, Midas, is now in operation at its inaugural drill site at the Bailieston Project in Victoria, Australia. It’s the first of a number of drill locations which will be coordinated from ECR’s central exploration facility compound in the Victoria Goldfields. Brown says the work will be funded from ECR’s existing cash resources, which amount to around £2.95 million.
ECR Minerals’ Craig Brown updates Andrew Scott at Proactive on talks with potential partners for key gold assets in Australia
ECR Minerals PLC’s (LON:ECR) Craig Brown tells Proactive London’s Andrew Scott they’re in active discussions with potential partners on its Bailieston and Creswick projects in Victoria, Australia. ECR’s recently sold licences comprising the Avoca, Moormbool and Timor gold exploration projects in Victoria, Australia to Fosterville South Exploration Ltd for a total potential cash consideration of up to A$2.5mln.
Tiziana CEO Kunwar Shailubhai discusses the company’s anti il6 technology to deliver drugs to lungs with Andrew Scott at Proactive Investors
Tiziana Life Sciences (LON:TILS)(NASDAQ:TLSA) CEO and chief scientific officer Kunwar Shailubhai discusses the recent excitement around inhalation and the direct delivery of drugs to lungs. ”It makes a lot of sense”, he says.
Shailubhai says he’s pleased he’s covered this approach in his recent patent and in fact was one of the first to do it . ”COVID-19 grows in lungs, that’s where it proliferates and produces inflammation .. that leads to what’s known as a Cytokine Storm and that’s the main reason for respiratory failure”, he says.
”Right now drugs are being delivered by intravenous … it works, but think about it this way, only a fraction of the drug reaches the lung so to give an effective treatment you have to give a higher dose”. Shailubhai also discusses why a vaccine isn’t the complete answer to the coronavirus crisis and why antibodies have a crucial role to play.
Open Orphan #ORPH Exec Chairman Cathal Friel speaks to Proactive’s Andrew Scott about the new US biotech deal
Open Orphan PLC’s (LON:ORPH) Cathal Friel speaks to Proactive London’s Andrew Scott after signing a new deal with a US biotech for the provision of a respiratory syncytial virus human challenge study.
Macarthur Minerals buoyed by share spike for major shareholder Cadence Minerals on iron ore deal – Proactive Investors
Macarthur is also encouraged by a robust iron ore market enhanced by low shipping rates and low oil prices.
Macarthur Minerals Limited (ASX:MIO) (CVE:MMS) remains focused on bringing to production its Western Australia iron ore projects, with the price of the key commodity remaining robust and largely unaffected by the COVID-19 pandemic.
Cadence, an investment group that has a keen interest in opportunities in the iron ore sector, has this week doubled to GB 6.55p after the Amapá Iron Ore Project in Brazil received court approval to start iron ore shipments.
Shared iron ore vision
Macarthur and Cadence share the same vision of producing a high-grade, low-impurity iron ore concentrate and for this reason, Cadence has been a long-term corporate partner and investor in Macarthur.
Both companies are developing profitable and significant iron ore assets globally with Macarthur focused on the Lake Giles Iron Project in Western Australia.
The common ground extends beyond this vision with Cadence chairman Andrew Suckling also a non-executive director of Macarthur and chairman of the company’s Audit Committee.
Feasibility study progress
At Lake Giles, Macarthur is making strong progress on a feasibility study, focusing on the higher-value magnetite resource.
The location of Lake Giles with existing and planned logistics.
XRF assays and David Tube Recovery (DTR) analysis from infill drilling completed at the end of 2019 have confirmed significant intersections of magnetite mineralisation.
These results are being incorporated into an updated mineral resource model being prepared by CSA Global.
Detailed ‘route to market’ studies, including port and rail designs, are underway and remain a key priority as they will form the background of rail access, haulage and port contracts.
Tenders have also been called for metallurgical testing, process and infrastructure design, and mining studies to support a detailed feasibility study.
Large magnetite resource
Lake Giles mineral resources include the Moonshine magnetite resource and the Ularring hematite resource, which is approved for development.
Moonshine has an inferred magnetite resource of 710 million tonnes while Ularring has indicated resources of 54.5 million tonnes at 47.2% iron and inferred resources of 26 million tonnes at 45.4% iron.
Core samples from Lake Giles.
Macarthur’s executive chairman Cameron McCall said the company’s business case remained strong.
“Investor confidence across the board has taken a hit lately but we’re confident that the company is close to receiving a major shot in the arm on the back of an updated resource estimate and how we will get this to market.”
“Resolute” market fundamentals
He said: “On a macro-level, there are supportive market fundamentals that remain resolute; global steel production continues to rise and so does the demand for higher-grade, lower-impurity iron ore feedstock such as magnetite.
“While the prices of most major commodities are wilting in the face of the coronavirus, iron ore has been resilient with the benchmark 62% iron product hovering around a relatively robust $US90 per tonne, that’s up from $US72 in November last year.
“Lower oil prices, lower shipping rates as well as a declining Australian to US dollar should see a rapid rebalancing as all these variables impact positively on corporate returns.”
Ruling a key Amapá milestone
The Amapá ruling from the Commercial Court of São Paulo marks a key milestone for re-starting the Brazilian project.
This project is owned by DEV Mineração SA (DEV) in which Cadence can earn a 20 per cent stake.
Independent surveys of the iron ore stockpiles indicate that 1.39 million tonnes of iron ore in three stockpiles are available for immediate export with an average grade of 62.12% iron.
First shipment could be as early as the end of this quarter, but this depends upon the receipt of permits and any COVID-19 restrictions that may apply.
Cadence CEO Kiran Morzaria said: “For Cadence, this a significant step forward for the redevelopment of the fully integrated Amapá Iron Ore Project.
“We are truly entering the operational phase of the asset, and despite the current turbulent and volatile market conditions, the iron ore prices remain robust.
“Our chairman (Andrew Suckling) has previously referred to Amapá as a ‘company changing’ project for Cadence, and it is now on its way to deliver this goal.”
Low shipping rates
Macarthur and Cadence are also encouraged by low shipping rates due to the decreased supply of iron ore to market and this is enhanced by very low oil prices.
This will also have an impact on existing suppliers as the ongoing need for iron ore pushes up demand, particularly post-COVID-19.
Suckling said: “The ruling from Brazil’s São Paulo court marks a significant milestone for the re-opening of the Amapá iron ore project and its long-term benefits for stakeholders and the region.
“This ruling brings the Amapá project back to life.
“Despite the severe disruption created by COVID-19, management has remained focused on delivering the Amapá project as planned, supported by a robust iron ore market that continues to justify the opportunity.”
“On cusp of transformational change”
The importance of this deal has been recognised by prominent UK-based wealth management and corporate broking company WH Ireland Group PLC (LON:WHI) that states “Cadence is on the cusp of a transformational change”.
In a new research note on Cadence, WH Ireland states: “An easy to ship stockpile of 1.4Mt of 62% iron ore would sell for a current SPOT price of $84/t. Taking in re-handling and port costs (WHIe) of $10/t and ocean freight estimate of $30/t leaves an operating margin of nearly $45/t of iron ore shipped.”
This is “a healthy margin which could be used to pay senior bank creditors (once agreement has been reached) and complete a feasibility study into the reopening of the Amapá mine and pay for some of the new infrastructure required”.
Link here to view the original Proactive article
FLU-v has been developed by Imutex, 49%-owned by Open Orphan unit hVIVO
The results of a successful phase IIb trial of a potential flu vaccine being developed by an Open Orphan PLC (LON:ORPH) joint-venture have been written up in a peer-reviewed article carried by a scientific journal.
The data from FLU-v 004 challenge study underlined its ability to reduce mild-to-moderate symptoms of the illness.
FLU-v has been developed by Imutex, 49%-owned by Open Orphan unit hVIVO, as the first ‘universal’, broad-spectrum influenza vaccine.
The publication of the results in the periodical ‘npj Vaccines’ follows hard on the heels of results from a separate field assessment of the drug, which revealed “cellular and humoral immunogenicity” from a single dose of adjuvanted FLU-v.
In other words, the jab immediately provoked an immune response.
Imutex, meanwhile, is scheduling meetings with regulators on both sides of the Atlantic ahead of further trials.
“Progression to larger phase III studies with FLU-v can further describe the cellular immune response and evaluate how the vaccine interacts with influenza disease,” said Open Orphan chief executive Trevor Phillips.
Chairman Cathal Friel added: “The need for better, more broadly protective vaccines against influenza is a high priority worldwide, and few new vaccines have demonstrated efficacy in humans as seen in the results of the challenge study for FLU-v 004.
“This is the first universal influenza vaccine that has shown this protection from influenza and reduction of symptoms in late-stage studies and together with the highly statistical immune results reported in a peer review article earlier this week means that the risk of failure in a phase III setting is greatly reduced compared with entering into phase III studies with no efficacy data.”
Link here to view the original Proactive article