News Release
NextEnergy Solar hits milestone with Camilla, first standalone energy storage project
NextEnergy Solar Fund Ltd
NextEnergy Capital Investment Director and UK Legal Counsel, Stephen Rosser, discussed the significant achievement of Camilla, the company's first standalone energy storage asset, up and running. Located in Fife, Scotland, near a major substation and amidst a high concentration of wind farms, the 50-megawatt Camilla has already begun operations. This placement allows it to capitalize on the electricity generation volatility from the wind farms, beneficial for energy storage. Rosser highlighted the importance of Camilla's operational success, including being selected by National Grid for balancing services, a testament to the evolving recognition of battery systems in the energy balance mechanism. Additionally, Camilla secured a tier one capacity auction contract for the upcoming winter, enhancing its revenue prospects. Rosser also noted the progress made by National Grid in adapting its systems to better integrate battery storage solutions, a critical step towards displacing fossil fuels in energy balancing. He shared that NextEnergy is considering upgrading Camilla from a one-hour to a two-hour system, reflecting a disciplined approach to capital allocation. Achieving the one gigawatt milestone through Camilla underscores the pivotal role of energy storage in the UK's transition to a low-carbon energy system, emphasizing the symbiotic relationship between renewable generation and energy storage. NextEnergy Solar Fund's distinction as the first solar plus fund in the investment companies space to reach this milestone was also celebrated. Regarding the investment perspective, Rosser addressed the current share price discount to net asset value and outlined strategies to enhance shareholder value, including selling five solar assets to reduce short-term debt and potentially repurchasing shares. The company's focus on a defensive capital structure, emphasizing the reduction of short-term debt amidst a challenging macroeconomic environment, was reiterated. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
March 21, 2024 12:18 PM Eastern Daylight Time
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News Release
Touchstone Exploration discusses transformational 2023 and the road ahead
Touchstone Exploration Inc
Touchstone Exploration Inc (AIM:TXP, TSX:TXP, OTC:PBEGF) CEO Paul Baay describes 2023 as a transformational year for the company, emphasizing the significant growth and operational advancements achieved. In an interview with Proactive's Stephen Gunnion, Baay said key 2023 achievements included the completion of facilities and commissioning of production, and the initiation of the 2024 drilling program. The company also secured new bank financing with a Trinidad bank, enhancing its capitalisation for future projects. Operational focuses such as driving down costs and optimising production were highlighted as contributing factors to the company's different outlook at the end of 2023. The fourth quarter saw remarkable growth with a 150% increase in production, averaging 8,500 barrels of oil equivalent per day (BOE/D), thanks to full quarter production from the Coho and Cascadura fields. This resulted in a $10 million cash flow, suggesting a positive financial trajectory. Looking forward to 2024, Touchstone has commenced its drilling program, encountering promising sands at Cascadura and advancing other projects across their portfolio. The company aims for an average production of 9,400 BOE/D, targeting an end-of-year rate of 14,000 BOE/D. Baay expressed confidence in achieving these targets, underpinned by financial flexibility from expanded banking facilities and a strategic focus on high net-back wells and capacity expansion. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
March 21, 2024 12:16 PM Eastern Daylight Time
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News Release
Immunic CMO discusses complexities of multiple sclerosis to mark MS Awareness Month
Immunic Inc
Immunic Inc (NASDAQ:IMUX) Chief Medical Officer Dr Andreas Muehler discusses the complexities of multiple sclerosis (MS) during an interview with Proactive's Stephen Gunnion to mark MS Awareness Month, highlighting the disease's impact, development, and the unmet medical needs of patients. MS, a lifelong autoimmune disease more prevalent in women than men, begins typically in early adulthood. It manifests in various forms, starting with relapsing-remitting MS, characterized by relapses and MRI lesions, affecting 80-85% of patients. Another form, primary progressive MS, occurs in 10-15% of patients, starting with a progressive phase without typical relapses. As the disease advances, Muehler explained that it transitions into secondary progressive MS, marked by a decrease in relapses but an increase in disability, which is a significant concern for patients. Despite the availability of treatments focusing on inflammation, there remains a significant gap in addressing the disability progression, a key area of concern for patients. Muehler introduced Immunic Inc's approach to tackling MS through their drug, vidofludimus calcium (IMU-838), which possesses dual mechanisms: anti-inflammatory and neuroprotective. The neuroprotective aspect, in particular, is believed to address the critical unmet need of slowing disability progression by protecting neurons. This differentiation, especially in progressive MS where current therapies fall short, positions vidofludimus calcium as a promising candidate in the MS treatment landscape. Clinical trials for vidofludimus calcium are underway, with a notable Phase 2 study, CALLIPER, fully enrolled and expected to read out in April 2025. Additionally, Phase 3 studies in relapsing MS are actively recruiting, with outcomes anticipated in 2026. These developments are keenly awaited by the medical community and potential partners, given the drug's potential to significantly impact MS treatment, particularly for forms of the disease currently lacking effective therapies. Contact Details Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com
March 21, 2024 12:14 PM Eastern Daylight Time
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Strategic Minerals and Cornwall Resources secure groundbreaking deal with Duchy of Cornwall
Strategic Minerals PLC
Strategic Minerals PLC (AIM:SML, OTC:SMCDF) executive director Peter Wale and Dennis Rowland, project manager at subsidiary Cornwall Resources, join Proactive's Stephen Gunnion with news of a groundbreaking mineral rights deal with the Duchy of Cornwall, marking a first of its kind in modern times. The agreement enhances the prospects for mining in Cornwall, expanding Cornwall Resources'' mineral rights by four times and covering a wide range of minerals including tin, tungsten, copper, and silver. Rowland, with a background in geology and extensive experience in mining exploration and development, detailed ongoing projects and the strategic importance of the new mineral rights agreement. He highlighted Cornwall Resources' Redmoor project, known for its significant tungsten and copper resources, alongside the potential for further exploration and mining in the region. The agreement, facilitating access to over 60 kilometres of licence areas adjacent to Redmoor, opens up opportunities for exploration in highly prospective areas with a history of productive mining. The next steps involve detailed geological studies and potential drilling programs to assess the mineralization potential. Furthermore, the company is progressing with a Shared Prosperity Fund grant application to support its initiatives. Wale also noted that Strategic Minerals is preparing for additional drilling and exploration activities, leveraging the cash flow from its Cobre operations in New Mexico to fund these projects. The engagement with stakeholders and commitment to environmental and sustainability standards are emphasized, alongside the anticipation of increased news flow and developments in the coming months. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
March 21, 2024 12:12 PM Eastern Daylight Time
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Globe Metals & Mining advances unique Kanyika Niobium Project in Malawi
GLOBE METALS & MINING LIMITED
Globe Metals & Mining Ltd (ASX:GBE) chief operating officer Paul Smith discusses promising developments at the company's Kanyika project in Malawi, highlighting its position as the first significant niobium project in 50 year. The project, known for integrating mining, concentration, and refining processes within Malawi, has shown notable success in niobium recovery through chlorination refining. This method, preferred over traditional acid treatments for its environmental benefits and lower energy consumption, also supports the extraction of rare earth elements as valuable by-products, enhancing the project's economic appeal. The construction of a lab-scale pilot plant, expected to be operational by April, marks a significant milestone, enabling the production of marketing samples for potential off-takers in Europe, Japan, and North America. This development is crucial for securing offtake agreements and advancing towards the commercialization of niobium and tantalum concentrates. The project's phased development strategy aims to minimize initial costs and dilution for shareholders while seeking structured financing options to support its progression. Contact Details Proactive Australia Pty Ltd Proactive Australia Pty Ltd +61 431 597 771 writers.australia@proactiveinvestors.com
March 21, 2024 12:10 PM Eastern Daylight Time
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PainChek leads innovation in AI-based pain assessment
PainChek Ltd
PainChek Ltd (ASX:PCK), a medical device company, is pioneering the use of an app, leveraging artificial intelligence (AI) for pain assessment in vulnerable individuals unable to communicate their pain due to conditions such as dementia, cognitive impairments, or in pre-verbal children. In and interview with Proactive's Stephen Gunnion CEO and managing director Philip Daffas highlighted that PainChek's app is the world's first regulatory-cleared medical device for this purpose. It utilises AI for facial analysis to detect nine micro facial features indicative of pain, assisting carers in aged care and hospitals to document and score the severity of pain. PainChek has achieved a first mover advantage with patents in the US, Europe, Japan, and the UK, protecting its technology until 2038. The company has regulatory clearance in Australia, New Zealand, Canada, the UK, the EU, Singapore, and Malaysia, with ongoing clinical studies in the US aimed at FDA clearance. PainChek reported its fifth consecutive quarter of double-digit growth in the December quarter, with 85,000 licences across 1,400 aged care facilities on three continents. With an annual recurring revenue of around $4 million, the company sees a significant growth opportunity in aged care, home care, and the hospital sector. Key milestones for investors include expansion in regulatory-cleared markets, entry into the US market upon FDA clearance, and the launch of an infant app for pain assessment in the home. Contact Details Proactive Australia Pty Ltd Proactive Australia Pty Ltd +61 431 597 771 writers.australia@proactiveinvestors.com
March 21, 2024 12:07 PM Eastern Daylight Time
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Trust Stamp unveils white paper on Stable IT2 for enhanced biometric security without data storage
T Stamp Inc
Trust Stamp Inc, through its Chief Commercial Officer Kenny Chan discusses the company's innovative Stable IT 2 technology, designed for enhancing online digital experiences, particularly in fast identity online applications. The technology distinguishes itself by enabling biometric authentication without the need to store any biometric data, thereby enhancing user privacy and security. Unlike traditional systems that require storing a facial template or picture, Stable IT 2 performs authentication while preserving user anonymity. The white paper co-authored by Chan aims to inform the public about the limitations of current biometric systems, which typically rely on device-based authentication or the storage of biometric templates. It highlights the vulnerability of current systems to fraud, such as SIM swap attacks and the interception of one-time passcodes, proposing Stable IT 2 as a more secure alternative. This new technology supports authentication through a combination of a device and a biometric input, without the need to store biometric data. For users, the benefits of integrating Stable IT 2 include enhanced account security through multi-factor authentication, the elimination of the need to store biometric data, surpassing the security offered by passkeys, and portability of authentication across devices. The technology is also a step towards creating digital identity tokens, enabling secure digital wallets that contain personal and financial information protected by multiple layers of authentication. Moving forward, Trust Stamp is seeking partnerships with merchants, financial institutions, and identity wallet partners to implement the Stable IT 2 technology in securing digital assets. Chan's discussion underscores the company's commitment to advancing privacy and security in the digital domain. Contact Details Proactive USA +1 347-449-0879 na-editorial@proactiveinvestors.com
March 21, 2024 12:01 PM Eastern Daylight Time
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Aclara Resources secures up to $80M investment from Chile's CAP for sustainable mining
Aclara Resources Inc
Aclara Resources CEO Ramon Barua joins Proactive's Stephen Gunnion with details of a significant investment deal with Chile's CAP SA, valued at up to $80 million. Barua said the partnership underscores a shared vision for a sustainable future in the extraction of critical minerals. CAP's financial strength and extensive experience in Chilean operations, including environmental impact assessments and mine management, will assist Aclara's growth, he added. The deal not only injects $29 million into Aclara's Chilean operation, REE Uno, but also offers the potential for an additional $50 million investment upon permit approval. This strategic alliance aims to expedite the development of the Penco Rare Earths Project, focusing on the extraction of vital elements like dysprosium and terbium for electric vehicle motors. The collaboration is set to enhance Aclara's market valuation and accelerate the production timeline, with the goal of commencing operations by 2027. Additionally, the partnership includes the formation of a steering committee to oversee the project's progression, highlighting the commitment to advancing the Penco Module's development efficiently. Contact Details Proactive Canada +1 604-688-8158 na-editorial@proactiveinvestors.com
March 21, 2024 11:58 AM Eastern Daylight Time
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Mako Gold confirms manganese mineralisation at Korhogo Project with promising IP survey results
MAKO GOLD LIMITED
Mako Gold Ltd (ASX:MKG) managing director Peter Ledwidge joins Proactive's Stephen Gunnion with promising initial results from an IP geophysics survey conducted on the Ouangolodougou Permit at the Korhogo Project in Côte d'Ivoire. The survey, encompassing 1.4 square kilometres with an additional line extending from it, aimed to test the effectiveness of the IP survey method in identifying manganese mineralisation. The decision for the survey was based on extensive mapping, rock chip sampling, and some drilling already undertaken. The survey successfully identified manganese both at the surface and subsurface, confirming the IP survey as a valid tool for identifying subsurface manganese mineralisation in areas with limited outcrop visibility. This discovery is significant given the large size of the project, spanning an eight-kilometre by four-kilometre area, with plans to extend the IP survey coverage for optimal drilling target identification. Mako Gold's confidence in the project's potential is bolstered by comparisons to the nearby Lauzoua Mine, noting similar mineralisation patterns and the vertical nature of deposits. The company is exploring partnerships to further develop the manganese deposit while maintaining a focus on its flagship Napié Gold Project. Contact Details Jonathan Jackson +61 413 713 744 jonathan@proactiveinvestors.com
March 21, 2024 11:56 AM Eastern Daylight Time
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