News Release
PEL 83 - First Exploration Well Drilling Operations Initiated
at the Mopane Prospect
Custos Energy
Custos Energy (Pty) Ltd. (together with Custos Investments (Pty) Ltd., “Custos” or the “Company”) is pleased to announce that the Mopane 2X exploration well located on blocks governed by Petroleum Exploration License 83 (“PEL 83”) in the heart of Namibia’s Orange Basin has been spud. The Mopane prospect complex is located at the southern end of PEL 83 which is operated by a subsidiary of Galp Energia (“Galp”) of Portugal. Each of Custos and NAMCOR own 10% working interests in PEL 83 and are carried by Galp through the exploration phase. The Mopane exploration well, which has been spud, is the first of two wells which are scheduled to be drilled by the semi-submersible rig Hercules under a contract that provides for two wells and optional testing. PEL 83 is located immediately north of PEL 39, home to Shell’s basin opening discoveries at Graff-1, La Rona-1 and Jonker-1. Shell continues to progress exploration and appraisal activities on its blocks with an ongoing multi-well campaign through the remainder of 2023 and throughout 2024. “The significant prospectivity of PEL 83, together with its relatively shallower water depth, position it to be one of the most significant and profitable opportunities in the Orange Basin.” said Knowledge Katti, Chairman and Chief Executive Officer of Custos Energy. “The ongoing activity and progress on each of our licenses demonstrate the unmatched quality of our portfolio in the heart of the Orange Basin.” he added. “We look forward to a safe and successful campaign on PEL 83 for the JV Partners and for the people of Namibia.” said Tom Alweendo, Minister of Mines and Energy. “We are excited to test the extension of the proven Upper Cretaceous plays into PEL 83.” said Maggie Shino, Petroleum Commissioner at the Ministry of Mines and Energy. “We believe PEL 83 will continue to demonstrate the world-class scale and quality of plays in Namibia’s Orange Basin.” she added. ABOUT CUSTOS ENERGY: Custos is a Namibian independent oil and gas exploration company focused on attracting investment and expertise to the Namibian offshore industry. Founded over a decade ago by Mr. Knowledge Katti, Custos continues to develop its portfolio with international partners for the benefit of all Namibians. On behalf of Custos Energy (Pty) Ltd., “Knowledge R. Katti” Chairman & Chief Executive Officer ABOUT CUSTOS ENERGY: Custos is a Namibian independent oil and gas exploration company focused on attracting investment and expertise to the Namibian offshore industry. Founded over a decade ago by Mr. Knowledge Katti, Custos continues to develop its portfolio with international partners for the benefit of all Namibians. Contact Details Knowledge R Katti +1 475-477-9410
November 27, 2023 07:00 AM Eastern Standard Time
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News Release
Creo Medical Group reveals good growth prospects at Capital Markets Day - Proactive Research Analyst
Creo Medical Group PLC
Creo Medical Group PLC (AIM:CREO), an innovative UK-based medical technology company, recently showcased significant advancements during their Capital Markets Day, as highlighted by Proactive Research Analyst John Savin in his latest research note. The primary focus was on Creo's new version of their Speedboat product, Speedboat UltraSlim, now compatible with all endoscopy systems worldwide, which marks a major leap in bowel surgery technology for removing cancerous and precancerous polyps. This miniaturization, integrating multiple surgical functions into a 2.8 mm diameter device, signifies Creo's technological prowess and opens a broader market reach. Another critical development is Creo's growing collaboration with robotic surgery companies, notably with Intuitive, the world's largest robotic surgery company. Creo's technology, particularly in coagulation, is seen as pivotal for these partnerships. The company is expected to earn royalties from its technological contributions, enhancing its revenue streams. A notable product in this regard is the SpydrBlade, a miniaturized tool with dual cutting and coagulation capabilities, currently awaiting regulatory approvals. Creo's innovations also address the need for specialized training for surgeons and endoscopists, underscoring the importance of their products in delicate procedures like removing oesophageal cancer. The company's approach involves establishing centers of excellence to concentrate expertise and training, a strategy likely to boost sales and market presence in the UK, US, and Asia Pacific. Financially, Creo is well-positioned, having raised significant capital in March 2023 and expecting to be EBITDA positive by 2025. This financial stability supports their ambitious sales, marketing, and product development plans. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
November 27, 2023 06:55 AM Eastern Standard Time
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Cellular Goods highlights recent developments and milestones for its 'Look Better' skincare range
Cellular Goods PLC
Cellular Goods PLC (LSE:CBX) chairman and interim CEO Darcy Taylor takes Proactive's Stephen Gunnion through the latest developments in the company's wellness business. Taylor highlighted the recent launch of their wellness division in several European countries, including France, Germany, Austria, Italy, Portugal, and Spain. This expansion aligns with their strategy to enter cannabigerol (CBG) friendly markets with high consumer demand and promising return on investment. The company's aim is to increase accessibility to its 'Look Better' skin range and enhance geographic distribution. Taylor also mentioned Cellular Goods' successful launch on the Sephora UK marketplace back in May, emphasizing the significance of the company's participation in promotional campaigns to increase product awareness. As the first CBD skincare brand in Sephora's offerings, these campaigns have been pivotal in expanding their customer base and leveraging their brand. Additionally, Taylor discussed the inclusion of their rejuvenating face serum in Jamie Greenberg's highly-anticipated 'swag bag', a significant endorsement from the renowned makeup artist. This has helped boost their presence and customer traction in the US market. Another strategic partnership highlighted is with Chill.com, a wellness product platform in the UK and the US. This collaboration aims to enhance the company's profile and sales in these regions, positioning Cellular Goods as a leading skincare brand on the platform. Looking ahead, Taylor expressed plans to continue expanding the 'Look Better' skincare range into new markets, focusing on revenue growth and increasing visibility among new and existing customers. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
November 27, 2023 06:53 AM Eastern Standard Time
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Quadrise CEO outlines significant milestones as it progresses its biofuel technology
Quadrise PLC
Quadrise PLC (AIM:QED) CEO Jason Miles joins Proactive's Stephen Gunnion with an update on the significant advancements the company is making in biofuel technology. Quadrise's successful completion of a fuel trial in Morocco stands as a notable achievement, demonstrating the potential of MSAR as a cost-effective alternative for industrial fuel needs. This trial marked the first commercial-scale demonstration of bioMSAR in an industrial setting, highlighting Quadrise's pioneering role in the industry. Miles elaborated on the trial's success, noting the substantial fuel consumption of the tested unit, comparable to a large container ship. The trial impressively met stringent emission standards, showcasing biofuel's viability in reducing CO2 emissions by over 25%. The stability of MSAR and bioMSAR, maintained for over 12 months, further attests to the fuel's reliability. Looking forward, Quadrise is preparing a technical report for the client and initiating discussions for potential EMSA supply starting in 2024. This includes considering trials at other sites, reinforcing the company's commitment to energy decarbonization. Miles also touched on other projects, including a marine program with MSC, set for a commercial vessel trial in 2024, and a US low-carbon fuels project with Valco. These initiatives, alongside strategic partnerships for biofuel development, underscore Quadrise's proactive approach to sustainable fuel solutions. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
November 27, 2023 06:50 AM Eastern Standard Time
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Technology Minerals COO delivers update on work at Leinster Lithium Project
Technology Minerals PLC
Technology Minerals PLC (LSE:TM1) Chief Operating Officer Lester Kemp speaks to Thomas Warner from Proactive London about progress at the Leinster Lithium project in Ireland, where partner Global Battery Metals (TSX-V:GBML, OTCQB:REZZF) (GBML) has the green light to start a trenching programme. Focused on the extraction of spodumene, a key lithium source, the project is situated in southwest Ireland on the Leinster Massif. Kemp highlighted the company's significant progress, mentioning their 16 licenses in the area, including the pivotal PL 1597 license. The Leinster project, which has attracted attention since the discovery of lithium-bearing pegmatite in 1976, has undergone extensive exploration. Technology Minerals, in partnership with TSX-listed Global Battery Metals, has completed nine drill holes, with Global Battery Metals funding the work under an earn-in agreement. This partnership has reached the second stage of a three-stage option, reflecting confidence in the project's potential. Kemp also discusses the broader strategy of Technology Minerals, emphasising its role as an incubator of promising projects. The company's portfolio extends beyond lithium to include cobalt in Idaho, and nickel, copper, cobalt in Northern Spain, along with new ventures in Cameroon. The interview concluded with Kemp expressing optimism about the future, hinting at further updates soon. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
November 27, 2023 06:47 AM Eastern Standard Time
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Ilika in a solid state after a strong first half as it achieves significant milestones
Ilika PLC
Ilika PLC CEO Graham Purdy joined Proactive's Stephen Gunnion with details of the company's strong first-half operating performance. Purdy told Proactive the company began the financial year with the shipment of its first stacked M300 miniature Stereax batteries, made in its UK facility. This milestone was quickly followed by a licensing deal with Cirtec, transferring key equipment to its Massachusetts facility, paving the way for battery shipments in 2024. Additionally, the company's Goliath program, focusing on large-format solid-state batteries, achieved a critical development milestone, supported by a substantial grant from the Faraday Battery Challenge. The company's financial health also saw notable improvement, with it guiding for revenue of £1.3 million and a significantly narrower EBITDA loss, surpassing analysts' expectations. Ending the half-year with £13.2 million in cash and equivalents, Purdy emphasised the company's effective fiscal management and technological advancements. Investors can anticipate an announcement regarding lithium-ion energy density parity, a significant technological milestone, confirming the effectiveness of Ilika's technology development program. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
November 27, 2023 06:45 AM Eastern Standard Time
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SSV Capital announces soft launch of SmartPay fintech solution
SSV Capital Ltd
SSV Capital Ltd founder and CEO Ankur Ghosh visits the Proactive London studio to speak with Thomas Warner ahead of the soft launch of its fintech solution, SmartPay. Ghosh announces the imminent soft launch at the House of Commons of SSV SmartPay, a pioneering QR payment solution leveraging the open banking framework, highlighting the company's commitment to innovation in Fintech. Moreover, SSV Capital is preparing to launch its proptech platform globally in the upcoming quarter after successful alpha and beta testing. In fund management, the company is advancing with the creation of a £50 million fund based in Luxembourg, reflecting their strategic choice for its favourable investment environment. The company's efforts have not gone unrecognised, as evidenced by several awards, including a recent accolade from The Times Group in India. Looking ahead, Ghosh is optimistic about the future, focusing on the continued success of SSV SmartPay, expansion in the proptech sector, and strengthening fund management operations. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
November 27, 2023 06:43 AM Eastern Standard Time
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Bradda Head Lithium takes action to get through "difficult patches"
Bradda Head Lithium Limited
Bradda Head Lithium Limited (AIM:BHL, OTCQB:BHLIF, TSX-V:BHLI) executive chairman Ian Stalker speaks to Thomas Warner from Proactive London following the conclusion of the exploration company's annual general meeting. Stalker says that despite challenging financial conditions, the AGM was well attended and characterised by strong support for all resolutions, reflecting a high level of confidence in the management. Focusing on survival and efficient spending, the company has streamlined operations and reduced overheads, ensuring the longevity of its financial resources. Stalker goes on to discuss some impressive recent metallurgical test results from the company's San Domingo project in Arizona. He suggests that the project is particularly noteworthy, given the increasing demand for domestic lithium production in the U.S. for electric vehicle batteries. Bradda Head's Basin Project is also discussed, and Stalker says the company is currently holding 1 million tonnes of lithium carbonate equivalent. The goal is to increase this to 2.5 million tonnes, with a prospective additional funding of $3 million from a lithium royalty agreement. This expansion aligns with the company's strategy to enhance shareholder value without needing additional capital at depressed market prices. Stalker also suggests that he fully intends to step aside once Bradda Head has completed its search for a new CEO. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
November 27, 2023 06:38 AM Eastern Standard Time
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Drylab Media Tech Group trails "interesting announcements" to come
Drylab Media Tech Group PLC
Drylab Media Tech Group PLC Sales Director Glenn Broere visits the Proactive London studio to speak with Thomas Warner about the work he's doing to commercialise the company's next generation dailies distribution platform. Broere explains that Drylab's platform simplifies the review of dailies by production teams on set, marrying low-resolution proxies with descriptive metadata. He suggests that the technology not only enhances efficiency but also significantly reduces post-production costs and time. He goes on to outline Drylab's strategy for penetrating the market, building on relationships within the industry and working closely with digital imaging technicians and other content creators. He acknowledges the current media landscape disruptions, like recent strikes in Hollywood, as opportunities for Drylab's growth. Moreover, Broere discussed Drylab's flexible pricing models tailored to various production scales and the model's success in markets like Sweden and Norway, aiming to replicate it in other regions. Finally, he highlights the importance of feedback from cinematographers and producers in evolving Drylab's offerings, underscoring the company's commitment to adapting and improving their product in line with industry needs. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
November 27, 2023 06:36 AM Eastern Standard Time
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