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Having said that, the revenue is down from the December quarter.

Wealth Within senior analyst Fil Tortevski shows the charting methodology and macro factors that may suggest Lynas is lining up for a ‘huge opportunity’.

“In light of what is happening around the world with the rare earths, there is a huge opportunity,” he said.

“Lynas is – bar China – the biggest rare earth player out there. So, this could open up a whole bunch of new supply chains for the stock.”

Wealth Within’s chief analyst Dale Gillham says LYC trading volumes have increased immensely and more consistently since 2017-18.

Hear their full analysis in this week’s Hot Stock Tips show.

Lynas last traded at $8.60.

Join the discussion: See what HotCopper users are saying about Lynas Rare Earths and be part of the conversations that move the markets.

The next stock discussed in this week’s Wealth Within video, is Telix Pharmaceuticals (ASX:TLX), which plunged some 8% after the U.S FDA delayed approvals for Telix’s new drug for imaging rare brain cancer – despite prior approval.

So is it time to take profits – given the stock has tripled in vertical-type rises in just over a year?

Wealth Within’s Gillham and Tortevski discuss what’s likely to happen, based on chart analysis.

Despite the news from the FDA, Telix last traded at $26.95.

Join the discussion: See what HotCopper users are saying about TLX.

Flight Centre Travel Group (ASX:FLT) is the third stock discussed today.

It has downgraded its FY25 profit guidance due to weaker U.S. travel demand. It has also announced a $200 million share buyback and cost-cutting measures.

Mr Tortevski said while it might look like a ‘sell right now’, it could present opportunities if the company makes the right structural changes.

Mr Gillham added: “It looks all doom and gloom downgrading profits, but that whole buyback is good capital management by the company’.

“That’s a great thing that it’s buying back shares, so I love what it’s doing.

“Obviously the times are a little bit tougher for them at the moment, but as we see interest rates come down we’ll see the economy being stimulated, travel will pick up.

“This is a stock that you would watch.

“Maybe in six months time it will give you a great buy, that once in a life time opportunity to pick up a really good stock while the news is a little bit bad on it.”

FLT last traded at $12.73.

Join the discussion: See what HotCopper users are saying about FLT.

Dale Gillham is Chief Analyst at Wealth Within and international bestselling author of How to Beat the Managed Funds by 20%. He is also the author of Accelerate Your Wealth—It’s Your Money, Your Choice, which is available in bookstores and online at www.wealthwithin.com.au

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

However, in recent years, marine algae have become a sought-after commodity group across the world, and increasingly in Australia – yielding products for use in the pharmaceuticals, nutraceuticals, and bioplastics industries, amongst others.

A reflection of this is the rapid growth of seaweed farming – an industry which currently spans 44 countries, alongside the market for seaweed itself, which is expecting to nearly double between 2022 and 2030 as an additional A$16 billion is added to its value.

However, it should be noted that there is plenty of scope for expansion, even in terms of the seaweed species targeted for commercial use – with the current market focusing on only 27 of the 12,000 species identified worldwide.

Indeed, most seaweed comes from one of five species groups – Laminaria saccharina and Undaria (brown seaweeds), together with red seaweeds Eucheumatoid, Gracilaria, and Pyropia.

Commercial production is also increasing, nearly doubling between 2010 and 2021.

In terms of location, Southeast Asia still dominates the market, having first invested in the commercial production of seaweed 50 years ago.

As of 2020, approximately 98% of farmed seaweed production came collectively from China, Indonesia, the Philippines, North and South Korea, Japan, and Malaysia.

New South Wales has recently taken a dive into promotion of this industry, with Minister for Regional NSW Tara Moriarty launching a ‘Seaweed Prospectus’ in December 2024 which outlined a modelled scenario in which the state could make between A$900 million and A$2.3 billion by securing 6% to 14% of the projected global market for future seaweed derived products.

These would mostly coalesce around biostimulants or biofertilisers, animal feed additives, nutraceuticals and bioplastics. By 2030, the market value is estimated to be A$2.7 million, A$1.7 billion, A$5.9 billion, and A$1.1 billion, respectively.

According to the state government, NSW is in a strong position to leverage its natural environment in this way, being home to 230 of Australia’s 1,500 native species of seaweed, including the highly valued Ulva spp, Ecklonia radiata, and Asparagopsis.

And Australia as a whole could do well to jump into the industry, since it already produces 15% of the world’s seaweed species – although we are currently major importers of the products, to the tune of A$40 million.

One ASX-listed company – BHP Global Ltd (ASX:BP8) – believes there is even more treasure to be found within marine algae, as it conducts ongoing research and development testing in Singapore, yielding high-grade assays of gold, silver, copper, and cobalt.

The biotechnology company reported in February that initial assays from laboratory testing had picked up assays of up to 12.67 milligrams per kilogram (mg/kg) of silver and 13.68mg/kg of cobalt.

This was yielded from the seaweed species Sesuvium Portucalastrum, which had been cultivated in late 2024 by BP8’s R&D consultant Gaia Mariculture Pte Ltd – which is working on these tests together with Temasek Innovation Holdings, an operating company attached to Temasek Polytechnic in Singapore.

The hypothesis guiding BP8’s research is that seaweeds grown in polluted waters will contain higher concentrations of minerals than those grown in pristine waters.

To do this, BPH Global is now collaborating with TPIH, which is currently developing the technology to identify, separate, and extract minerals from the seaweed through the use of phycomining techniques.

To test this hypothesis, researchers cultivated seaweed using clean, filtered seawater from the Singaporean island of Sentosa, with testing at later stages to focus on another source: seaweed grown in polluted, brackish water in Johor, Malaysia.

Bolstered by these early results, BP8 continued its focus on the seaweed grown in pristine water, picking up new assays through inductively-coupled plasma-mass spectrometry (ICP-MS) on samples which had already been processed through concentrated nitric acid and hydrogen peroxide.

Among these were assays of gold grading as high as 14.85 mg/kg, in addition to copper grading up to 10.88mg/kg.

In early April, the company reported data from Phase Two of this program, with results supporting its governing hypothesis.

Thus, significantly higher mineral content was yielded from seaweed cultivated in the polluted water from Johur compared to that which had grown in cleaner, filtered water – with the latter being the focus of Phase One’s sampling.

The Phase Two seaweed samples yielded assays of up to 123.16mg/kg of gold – more than eight times what had been seen in Phase One – while silver assays reached 80.58mg/kg – over six times the amount assayed in Phase One.

BP8 has vowed to continue its exploration into the uptake of minerals from seaweed, which it believes can act like a sponge in capturing gold, silver, cobalt, copper and other commodities.

Their success continues to prove the potential for seaweed as a material to invest in.

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As an ow­ner-ma­na­ged com­pa­ny, GBC AG knows the fi­nan­cing needs of Ger­man SMEs and is an in­de­pen­dent and re­lia­ble part­ner for all ca­pi­tal mar­ket is­sues.

Wi­thin the GBC Group, GBC AG of­fers cor­po­ra­te ana­ly­sis and re­se­arch. Lyndsay Malchuk from Stockhouse (HotCopper’s sister site) recently sat down with GBC analyst Matthias Greiffenberger, who has initiated coverage of Almonty Industries with a bullish outlook, projecting a 10x revenue jump over the next few years, and spotlighting Almonty’s Sangdong mine as a geopolitical gamechanger.

The following is a transcription of the above video. The Market Online has edited it for clarity.

LYNDSAY: Well, let’s just kick this off and maybe here’s where we can start with your report. You highlighted the 15 year offtake agreement with Plansee as a core underpinning of Almonty’s valuation. From your perspective, how do you account for counterparty risk in your model, especially with hard floor price that could backfire in a downturn? I mean, really, if Plansee experiences demand softening or financial strain, what’s the downside scenario look like?

MATTHIAS: Well, first let’s have a look at this agreement. So it’s a 15 year offtake agreement with Plansee, which is fantastic for Almonty because, the offtake agreement has a hard floor of 235 MTU and there is no cap on upside.

So this is basically unheard of in the industry. And the reason for this is that Almonty has such a great track record, And also the hard floor is way below the current market price of tungsten, which is currently at, 363 MTU. So basically that alone is a big downside protection. And furthermore, Plansee is not just a customer.

They are also a 14%, shareholder. So their interest and their incentives are very much aligned and that lowers the counter party risk significantly. But, you’re absolutely right. The, the contract or no contract is without risk. So we have accounted for this by discounting the future cash flows of the project accordingly.

So,  the risk is already priced in. And, let’s say, if Plansee were to ever face weaker demand, then we are pretty certain that Almonty could redirect its volumes, especially, because of their low production costs. And that makes, Almonty quite competitive.

I think there are so many other potential alternative buyers in the market, especially in the defensive industry or the semiconductor industry. Especially also, because Almonty is a non-Chinese supplier, so overall be priced in the risk. I think the Plansee contract enhances stability, but Almonty is not overly reliant on them in our opinion.

LYNDSAY: Almonty’s net loss nearly doubled year over year of working capital, it’s materially negative. And the balance sheet, you are showing that there’s still a rise. I mean, you’re betting still to maintain a buy recommendation. So can you walk us through the assumptions behind your confidence in the liquidity runway? How are you weighing dilution or refinancing risk in the broader valuation?

MATTHIAS: Almonty is at an inflection point this year. The company will, in our opinion, transition to a really important tungsten producer, and by that I mean the, the Sangdong asset will come online. So, the Panasqueira mine in Portugal is already producing, but, Sangdong will transform Almonty completely and will make them a really important player in the market.

Our valuation with the buy recommendation, as you mentioned, and the target price of $4.20 Canadian is based on the future cash flows that we expect. And, just for compliance reasons, I have to point out that our catalog of possible conflicts of interest can be found on gbc-ag.de

The sand on the mine is fully funded and near its completion, so we expect production to begin in the middle of the year, and this should lead to significant positive cash flows. And, as you said, the possible refinancing are, the risks in our opinion are manageable. I mean, IMO has the support of the KFW Bank, which is rare in this industry.

Because it’s a German government owned bank and that alone shows the somewhat low risk profile of the project. So we expect Almonty to enter its cash flow phase. And with the current geopolitical development, they have, quite the tailwinds.

LYNDSAY: Now your model assumes a fairly aggressive ramp up at Sangdong as well with throughput doubling just 12 to 18 months after first production.

So it gives you the conviction that this timeline is achievable, especially given the complexities of underground mining and historical delays in similar projects.

MATTHIAS: Well, you’re right, the project is quite ambitious. But in our opinion also achievable. And there are several reasons for this.

So, firstly, this is not a Greenfield project. It’s a redevelopment of a historical producing mine with known geology and existing infrastructure. Secondly, it’s a horizontal ore body, so it makes it easy to use drift mining. So production can grow without needing much expansion on the surface. And thirdly, Almonty has taken a face approach.

So the project is built step by step, and we expect that the experience management can deliver on their plans. Especially if you look at the CEO, Lewis Black and the whole team. They’re really experienced and I think they can pull it off. So, as you said, even if it comes to ramp up delays, the asset should deliver sooner or later really strong returns.

So, worst case there will be delays, but I think the strong returns can be expected nonetheless. So the bottom line is the Sangdong mine is not your typical mine because of all the legacy knowledge. The modern design and the face builds. So we are quite optimistic.

LYNDSAY: Let’s unpack that just a little bit more. You position Sangdong, as a strategic alternative to Chinese supply, but given that South Korea imports over 90% of its tungsten from China, how do you reconcile geopolitical narrative with economic reality? If China exerts pricing pressure once Sangdong comes online, how sustainable is the competitive edge you’ve priced in?

MATTHIAS: Great question and a really important one because yes, the South Korean government currently is getting most of its tungsten from China,  but that’s basically the reason why Sangdong is so important.  That’s not really contradictory because, Sangdong is going to supply South Korea and the South Korean government  wants to secure domestic supply.

Furthermore, this aligns with the EU and US interests because they are all trying, to secure supply away from China. I mean, Almonty isn’t just replacing supply, it’s basically replacing vulnerability regarding China’s pricing power. So that’s a valid concern, but I think Almonty is in a very special situation here.

As we said in the first question. They have a floor price from Plansee, so they have a great contract where they have a floor price. I think the pricing power of China is very limited. And secondly, Tungsten is very, very low in cost. So they are cost competitive and they can deal with the lower prices.

So China already disrupted the markets, but, Western buyers are already actively trying to diversify. So we have applied a risk adjusted discount to the cash flows, and I think this reflects the reality.

LYNDSAY: Let’s look at the forward forecast. The forecast suggests a 10x revenue increase by 2027.

Can you break down how much of that growth is tied to de-risked fully funded production and infrastructure? And how much is based on assumptions still dependent on execution, permitting, or market timing?

MATTHIAS: Yeah, we expect that the management will deliver on the plans and the mine will come online soon. So the first phase is that the Sangdong mine will come online, which is already fully funded, and it’s almost done and it will start production, our opinion mid this year. And this will already lead to a big jump in revenue. Because there’s this off take agreement with Plansee. This should mean steady cash flows, even if there’s price disruptions in the market that we don’t expect.

Then in the second phase, they plan to double their production so that will be easily achievable in our opinion, because there won’t be much new infrastructure needed for that. On top of that, the Panasqueira mine in Portugal is consistently making money and they are already planning to expand the mine, and they don’t need additional permits for that.

So that’s another one. And also the optimal production will start in 2026 or 2027, which also adds to the revenue. So. That alone leads to significant revenue increases. And furthermore, there’s an oxide plan, which should not only increase the revenue, but also increase the margin.

It’s a very phased approach. And because it’s not all done at the same time, I think it’s very realistic to achieve this. And that’s why the, the big revenue jump is expected.

LYNDSAY: It was a great report that you did and there’s a lot of in depth, really insightful information there. We’re going to leave it here for now. Matthias, thank you so much for walking us through this and the thinking behind your coverage of all things Almonty Industries.

You can read the full report at GBC Research.

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The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

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“The national launch in Woolworths is a major milestone for sure… it further validates the growing consumer demand for premium Kava as a safer, cheaper alternative to alcohol,” Zane Yoshida, The Calmer Co’s CEO, told HotCopper.

The expansion means Instant Kava is on Woolies and Coles (ASX:COL) shelves.

“This reinforces our ambition to lead the rapidly growing category,” Mr Yoshida added.

CCO opens at 0.4cps on Wednesday after a 20% drop yesterday.

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WIN MD Steve Norregaard told HotCopper this latest estimate now places Butchers Creek at “around 360,000 ounces [of gold]” with around 320,000 in aggregate.

“What is really, really important is the drilling program we carried out last year was focused on converting inferred low confidence material into high confidence indicated material where we’ve seen this profound jump.”

WIN added another 120,000 ounces of indicated material through these early works.

“We can now put an economic value on the project,” Norregaard celebrated.

WIN heads into Wednesday morning trade selling at 1.4cps.

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In a world where securing critical raw materials is increasingly becoming a geopolitical priority, one company in particular is coming into focus: Almonty Industries Inc. (ASX:AII).

With strategically located mining projects and a clear vision of becoming a leading non-Chinese supplier of tungsten and molybdenum, Almonty offers investors an opportunity for substantial price gains.

A new research report from GBC AG recommends buying the stock – with a target price of C$4.20, representing a price potential of over 100 per cent from the current level.

(A link to the full report is available in this publication.)

Tungsten is essential for high-tech industries – from semiconductors to aerospace and defence. However, the lion’s share of global production comes from China.

This is precisely where Almonty comes in: With the Sangdong mine in South Korea, one of the world’s largest tungsten deposits outside of China, the Company aims to reduce Western dependency and establish a stable, conflict-free supply chain.

With a well-structured development plan and an expected mine life of over nine decades, Sangdong is the cornerstone of Almonty’s strategy. The ore deposit boasts excellent grades and low operating costs. The planned integration of a downstream oxide processing plant and future molybdenum production will further increase value creation.

In addition to its operations in South Korea, Almonty (ASX:AII) has a strong presence in Europe. The Panasqueira mine in Portugal has reliably delivered cash flows for over 100 years. With the Los Santos (reactivation of old material) and Valtreixal (development pipeline in Spain) projects, the Company offers additional growth options – all with moderate capital requirements.

Almonty Industries is more than just a small producer – the Company is on its way to becoming a key strategic supplier for Western industries. For those looking to participate in the de-globalization of critical supply chains and the boom of industrial future technologies, this stock – with 100 per cent upside potential – deserves a closer look right now.

To the research report by GBC AG (Initial Coverage – Recommendation: Buy): Download.

Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as “Relevant Persons”) currently hold or hold shares or other financial instruments of the aforementioned companies and speculate on their price developments. In this respect, they intend to sell or acquire shares or other financial instruments of the companies (hereinafter each referred to as a “Transaction”). Transactions may thereby influence the respective price of the shares or other financial instruments of the Company.In this respect, there is a concrete conflict of interest in the reporting on the companies.

In addition, Apaton Finance GmbH is active in the context of the preparation and publication of the reporting in paid contractual relationships.For this reason, there is also a concrete conflict of interest.The above information on existing conflicts of interest applies to all types and forms of publication used by Apaton Finance GmbH for publications on companies.

Apaton Finance GmbH offers editors, agencies and companies the opportunity to publish commentaries, interviews, summaries, news and the like on news. These contents are exclusively for the information of the readers and do not represent any call to action or recommendations, neither explicitly nor implicitly they are to be understood as an assurance of possible price developments. The contents do not replace individual expert investment advice and do not constitute an offer to sell the discussed share(s) or other financial instruments, nor an invitation to buy or sell such.

The content is expressly not a financial analysis, but a journalistic or advertising text. Readers or users who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. No contractual relationship is established between Apaton Finance GmbH and its readers or the users of its offers, as our information only refers to the company and not to the investment decision of the reader or user.

The acquisition of financial instruments involves high risks, which can lead to the total loss of the invested capital. The information published by Apaton Finance GmbH and its authors is based on careful research. Nevertheless, no liability is assumed for financial losses or a content-related guarantee for the topicality, correctness, appropriateness and completeness of the content provided here. Please also note our terms of use.

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“This is a very positive result,” Dr Michael Thurn told HotCopper, declaring on the company’s news: “We have been able to show NUZ-001 may have the potential to be a treatment for Alzheimer’s disease and Parkinson’s disease.”

“As you know, they are diseases that are becoming more and more important in aging populations so these results really set us up to look at these two indications going forward.”

NUZ has been trading 4.7% lower on Monday and is now selling at 10cps.

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The deal revolves around the monthly sale of BPH’s raw seaweed products, with 100 metric tons of high-quality Eucheuma cottonii seaweed to now be shipped to Quanzhou. That will then expand to as much as 500 tons by 2027.

“We’ve been so impressed with the factories in China,” BP8 CEO Matthew Leonard said, speaking to HotCopper on the major deal heading into Week 16.

“BPH Global is very happy about this two-year agreement – it’s a significant offtake agreement. That potential to scale up to 500 tons a month [is exciting] and we’re really looking forward to working with this great client now.”

Mr Leonard added the plan now is to “grow up” through the two-year deal.

BP8 has been trading relatively flat today and sits at 0.3cps.

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“Initial surface samples were really good – we even called it bonanza,” Magnum Mining director Neil Goodman told HotCopper in an interview this week.

Two are close together in Arizona while a third is located further north in Idaho.

Next – Magnum will capitalise on the strong surface samples and progress the mines.

“We need to follow on from our surface samples there now and figure out what is there,” Mr Goodman explained. “[We will] do more sampling and mapping to develop more focused drilling plans and get [these] gold mines up.”

MGU closed at 0.6cps on Thursday arvo after no change.

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Magnum will buy the Parker Gold Project in Western Arizona, which has been “recognised for large tonnage copper and gold potential.”

Surface rock samples revealed up to 83.87 grams per tonne of gold, 359g/t of silver, 8.37% copper, and 16.1% lead, with visible gold spotted in some samples.

The project is in a district already hosting gold and copper producers – but no modern exploration has been done on its prospects.

“While records are sparse and production poorly defined, ores delivered to the smelter during a second phase of mining in 1941-42 held approximately 6 to 7 grams per tonne of gold and 2.3% copper,” the company told investors today.

“The Parker Gold Project has promising exploration potential for gold-copper discovery.

“Crucially, recognition of the possible presence of an IOCG [iron oxide copper gold] mineralisation model opens up the tonnage potential in the area.”

MGU will also be acquiring the Mormon Canyon copper, gold and silver project in north-eastern Idaho, which has more than 4km of strike length with minimal past drilling.

The project has drill-ready targets and historical grades of up to 3.32g/t gold and 4.72% copper. The company says there are 4.4 square kilometres of untested vein systems and Mormon Canyon is close to critical infrastructure.

The Parker and Mormon Canyon projects will cost Magnum $200,000, divided into four equal instalments to Monomatapa. MGU has already started due diligence with a field program to confirm and expand historic exploration.

Magnum will also acquire 100% of EV Resources Inc., which holds the La Cienega Gold Project in La Paz County, Arizona. This project is in the Buckskin Mountains; old copper mine workings and several outcrops have been documented on a mineralised trend covering a 2.5km strike.

The cost is a 2% net smelter return royalty to EVR for minerals produced from the La Cienega Gold Project in the U.S.

In other company updates, Magnum claims U.S. tariff risks spur renewed interest in Magnum’s Buena Vista Magnetite Iron Project in Nevada.

“The speculated imposition of import tariffs being applied to U.S. mineral imports has triggered a renewed interest in domestic mineral resources,” the company told investors.

“Magnum is investigating strategies that may capitalise on this appetite for home-sourced commodities. These include, but are not limited to project proposal realignments, possible consolidation plays, and joint venture opportunities.”

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Elsewhere, Magnum is continuing due diligence around its green iron Hismelt project in Saudi Arabia and is completing due diligence for a proposed acquisition of the Azimuth and Palmares REE projects in Brazil.

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The company is also a major shareholder in Almonty Industries (ASX:AII), a leading global player in the tungsten space with key projects in Portugal, Spain, and the highly anticipated Sangdong Project in South Korea.

Lyndsay Malchuk from Stockhouse recently caught up with Dr. Thomas Gutschlag, the Founder and Chairman of the Supervisory Board of Deutsche Rohstoff AG. Additionally, Thomas is also a Director on Almonty’s Board giving him unique, firsthand insights into Almonty’s operations, their vision and the critical role tungsten plays in securing the West’s technological and industrial independence.

The following is a transcription of the above video. The Market Online has edited it for clarity.

Lyndsay: I think the best place to start is a bit about Deutsche Rohstoff. This is a company known for its strategic investments in both energy and critical minerals. Having said that, from your perspective, what is the overarching strategic goal of your company? And specifically, how does your stake in Almonty Industries fit the broader vision?

Dr. Gutschlag: Well, I mean basically we are looking for good opportunities in the resources sector. We have been doing that for the last 20 years, and we are trying to be a bit ahead of the crowd in some respect. We were very early in the US shale oil development, for example, and that proved to be a very good move. We’ve grown nicely over the last 15 years in that market. And so, we are trying to find good stories before others find them. And Almonty or the tungsten industry is such a story. I mean, tungsten was overlooked for many years by investors. We invested in that industry early as well, and I think we found the best company possible with Almonty finally and are very happy to be in the sector and also especially in Almonty.

Lyndsay: We’ve learned a lot about Almonty and have seen they hold an impressive footprint within the tungsten projects in Europe and Asia. So in your opinion, what is the geopolitical and industrial significance of these projects, particularly for western nations looking to reduce that reliance on China for critical raw materials?

Dr. Gutschlag: Tungsten is used in a variety of very important and growing industrial applications. It’s not only defense, but also a lot of other important products that are made of tungsten, which has a very high melting point, and you can make very hard steel of it. So, I think the importance of Almonty’s project can hardly be overestimated. I mean, there’s basically very, very few projects that may come into production over the next say five to 10 years. So Almonty ‘s projects in project in Europe, as well as especially Sangdong, are, in my opinion, the major opportunity for the western world to a secure supply of tungsten. And I mean the importance of tungsten is ever growing. We’ve recently seen all the rush to the defense industry. And all these players will need tungsten in their rockets, in their tanks or whatever they want to produce. It always needs tungsten. And so I think we are in a very unique position here with Almonty and happy to have had the chance to co-develop that.

Lyndsay: Let’s dip over to the Sangdong project in South Korea. It has been making headlines as potentially one of the most significant tungsten mines outside of China. Have you been able to visit the site?

Dr. Gutschlag: Yes, twice actually. So, the last time was in November 2024, so a couple of months ago. And it’s quite impressive. I mean, it’s always stunning to visit an underground mine because it’s such an impressive place. The mine is great. It’s ready to produce. I mean basically everything is there and in place so we can immediately start mining. There’s also a lot of ore at the surface, so that’s also a good thing because we can start with that, or we don’t need to really mine right from the beginning. And the processing plant is under construction and is going to plan. It’ll be a very impressive processing plant for a lot of tons to be processed during the year.

I was very impressed. Also, the very good relations to the community. It’s extremely important that the locals support the project the mine. And that’s the case. The team in South Korea and Lewis have done a great job to build these relations and to ever strengthen them. So, I think we are really ready to get started. And it will become a great success. I have no doubt about that.

Lyndsay: Now, Almonty recently announced that it intends to relocate its corporate base to the US and begin collaborating with American Defense International. They also have added to their Board US General Perna. So, what strategic potential do you see in this move, especially with regard to defense supply chains and valuation of the company?

Dr. Gutschlag: Well, obviously the world is quickly changing at the moment. And so, supply chains really are rebuilt in a way especially for critical metals. All the world is looking for critical metals. Tungsten is one of them, but it’s an important one. And I think the United States will be the center of that rebuild. And I think it’s good to be close to that center, close to the decision makers and close to the largest capital market in the world. I think we’ll be able to attract more investment from US investors, and we’ll be close to the decision makers who are deciding about where to supply their tungsten.

Lyndsay: If we look ahead with global demand for tungsten set to rise and governments increasingly recognizing its importance. What role do you envision Almonty and Deutsche Rohstoff playing in the critical mineral space for the next three years?

Dr. Gutschlag: Well, as I said already, I think we’ll be the major non-Chinese supplier and, and there’s not many to be seen over the next years that that could be added to that portfolio. So I think we are in a unique position in that way. I think it’s kind of a once in a lifetime opportunity to be invested in such a company because everything has developed in our favor over the last couple of years.

And the team did a great job to build Sangdong. And it’ll be a fantastic tungsten mine with very good grades and good support by the government and everyone in Korea. And I think there’s still a lot of potential for further development for Sangdong itself for downstream activities, downstream production for molybdenum for example. We know that there’s a large molybdenum reserve below the tungsten reserve, so tremendous potential. And I think we’ll be happy to help to develop that potential as we did in the last 10 years.

You can find Deutsche Rohstoff AG on the Frankfurt Stock Exchange under the symbol DR0.DE.

For more information about the company visit rohstoff.de.

Company shares last traded at €36.50.

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This deal was never really in doubt for the AI-driven sales enablement platform provider, as it was backed by 30% stake-holding institutions – Regal Funds Management and SQN Investors.

Those institutions wanted the Vector cash-out deal, despite there being a higher-priced option on the table from Investcorp AI Acquisition Corp (IAAC SID), that could have seen the company on a path to the Nasdaq. That offer valued shares at more than double Vector’s price – at about 48c.

What disappointed smaller shareholders may not realise (and there are many) is there’s a clear link between SQN and Vector – and I’ll get to that in a moment.

You’d think the 48-cent offer would be a no-brainer over a 22c deal right?

But despite already carrying a huge loss – having bought into BTH at around 80c a share – Regal Funds Management and SQN wanted cash for their holdings, rather than Investcorp’s higher value share-based takeover option.

That option – and the chance of Nasdaq success – is what many smaller shareholders preferred, even though BTH’s management understood that the Investcorp offer provided ‘less certainty.’

The bottom line is institutional investors did not want to accept Investcorp’s offer.

SQN Investors bought at 80c and now they’ll be selling to Vector Capital at 22c. 

Overall, the deal values the company at A$183 million and will see BTH leave the ASX.

BTH is believed to have been one of the biggest AI players on the ASX, achieving as much as 25% of its revenue directly from AI products.

David Keane says the Vector purchase is proof that big U.S. investors will invest into a successful Australian company.

And maybe not all BTH’s knockers might really think poorly of the company and its potential.

Those knockers include the founder of SQN Investors, Amish Mehta. SQN is one of the institutions with the voting power that confirmed the Vector Capital deal.

Case in point: SQN’s Mehta was quoted slagging off BTH in the AFR on December 6, when he said: “Of the 110 investments SQN has made, this is the single worst.”

Well, that was two months after he signed up to work for Vector Capital in the role of MD, and as a member of its Investment Committee.

A committee that already liked BTH enough to want to buy it and had been discussing a takeover since last June.

A committee that must have believed it could make a good buck here and pretty quickly (watch closely because some insiders are thinking this company might realise a far higher value in the number of years you can count on one hand!).

A committee that could get the vote from big institutions with skin in the game – SQN alone was already holding more than 9%.

Mehta is – in a way – both the seller of BTH and buyer. Through Vector he’s now seizing the opportunity that was SQN’s failed investment!

Vector Capital – which Mehta now leads – has invested in and sold out of significant businesses, including Rocket Lab USA, which is an aerospace manufacturer and now trades on the Nasdaq making Vector one of the leading tech-focussed private equity (PE) investors.  

As for Regal, which had been a strong supporter of Bigtincan since before its IPO, Keane says: “The common view is that due to the change in market conditions away from growth-oriented tech, together with the need for Bigtincan to continue to invest in AI, meant that ASX institutional investors felt that a strong global investor was needed to drive the company to the next level.”

David Keane and his management team have been promised their roles will continue and they’ll get to guide the strategic direction of the company and serve their customers. 

Keane understands Vector Capital plans to expand the Hobart-based AI team, and he hopes this investment in Australia will continue.

“This deal is important because it shows that Aussie technology can be world-leading,” he said.

“We can build great companies by focusing on the core product offering and can find a way to move internationally from a public company base.

“The deal allows Bigtincan to accelerate innovation and product development without the constraints of public market pressures, ensuring continued investment in AI, automation, and platform enhancements.

“The market is at a pivotal moment, with AI reshaping the future of sales enablement. This deal ensures Bigtincan has the resources and strategic flexibility to lead this transformation while competitors face financial constraints.

“While in some ways it’s bitter-sweet to leave the ASX – I have to acknowledge that Vector Capital’s investment validates Bigtincan’s long-term potential, ensuring it remains well-funded for future growth. It provides certainty.”

Bigtincan has celebrated its share of success in the marketplace. 

Its customers include global enterprises, including 100 of the Fortune 500, from Nike, Seek (ASX:SEK), and GUESS to AT&T, Prudential, Merck, Red Bull, and Starwood Hotels.

Bigtincan has been named in the Top 25 Companies in Sales Enablement for 2024 by The Software Report. And, CEO David Keane was listed as one of the Top 25 Executives in Artificial Intelligence.

Bigtincan is the first enablement provider in the Microsoft 365 “Works With Copilot” app store. 

It has a suite of AI capabilities under the GenieAI umbrella, which spans the entire platform and includes Genie Assistant, SearchAI, AuthoringAI with translation, MeetingsAI, CoachingAI, and RolePlayAI.

Building and growing Bigtincan has seen David Keane and his Board face many challenges.

“Many things would have produced different outcomes,” he said.

“Certainly, the challenge of needing to invest ahead of the market in new technologies, and the results of the required capital raising in 2024, will only be judged in future years.

“It could prove to have been a mistake, however, it could also prove to be the beginning of what creates a significantly more valuable business under the Vector umbrella.”

While investors love to see the value of their shares skyrocket and gain the windfall that can come from selling into a spike or on an upward trend, it may become overvalued in that process and that’s likely outside the direct control of company management.

In the case of BTH, if you got caught in the hype, and you bought at a peak that never returned, it could be a very painful experience. In August 2021, BTH traded at $1.36, with many who purchased during the run making significant returns.

There are also some not-so-happy traders who bought BTH at the wrong time.

For full disclosure. I was one of those shareholders.

So, I guess I’ve been well qualified to write this.

BTH last traded at 22cps.

Join the discussion: See what HotCopper users are saying about Bigtincan Holdings and be part of the conversations that move the markets.

Disclaimer: Bigtincan Holdings was a client of HotCopper at the time this piece was written.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

The company’s Felix™ System has successfully completed its Phase III clinical trial, proving it works faster than traditional methods, without adverse effects, and with scientists preferring it over the most widely used traditional IVF technologies.

Memphasys reached its primary endpoint comparing its Embryo Utilisation Rate against existing Density Gradient Centrifugation (DGC) and Swim-Up IVF techniques.

The trial has proven Felix is as good as the Swim-Up technique and “superior” to the world’s most used DGC method. And, Felix has other benefits in relation to both existing methods, which I’ll run through shortly.

To say Memphasys is working to address an unmet need is an understatement – the demand for solutions to fertility issues is enormous.

Most of us know of someone who’s been through the IVF process. It’s stressful, expensive, and utterly devastating if it doesn’t work. Memphasys’ technology could be the answer for would-be parents who’ve seen other IVF options and multiple rounds of IVF fail.

“Yes” and “Absolutely,” Memphasys MD and CEO Dr David Ali told HotCopper.

“The trial was extremely rigorous, and we chose an endpoint of embryo utilisation because that’s the benchmark of Assisted Reproductive Technology (ART) cycle success. We now have data that meets this benchmark.  

“We’ve really met the acid test in proving that our device works effectively.”

Memphasys partnered with Monash IVF Group (ASX: MVF), another Australian reproductive and fertility services company, for the trials.

IVF has long focussed on female fertility, but andrology – the science of male reproduction – suggests 50% of the onus of creating a baby actually lies with men. That’s right, male infertility is just as likely to be the problem in failed conception!

Memphasys’ work was based on the male side of fertility being the ‘forgotten half’.

Male infertility can be caused by issues including low sperm count, poor sperm quality, hormonal imbalances, genetic disorders, and more.

Global authority on reproductive biology, Emiritus Professor Dr John Aitken, leads a team studying fertility at The University of Newcastle’s Centre for Reproductive Science. He wrote the book The Infertility Trap and is the Scientific Director of Memphasys.

“Our understanding of the male reproductive system is approximately 20 years behind our understanding of the female system,” he said.

“One in 20 men is infertile, yet we do not have a medical specialty in male reproduction.”

(You can read more about Professor Aitken’s work in the area here.)

It’s in this male reproduction side where Memphasys is positioned – and is set to make a real difference for patients and its shareholders.

Memphasys’ Felix™ system “works with sperm in a way other devices can’t,” Dr David Ali said.

Dr Ali is also an expert in the field; he holds a PhD in Pharmacokinetics and is a published researcher. He’s presented at international conferences and worked in drug discovery, clinical project management, clinical pathology, business development, and operations at senior levels – so there are no novices here.

“Our trial results reinforce the ability of Felix to effectively separate high-quality sperm and improve embryo utilisation rates.

“While other methods are focussed on sorting sperm according to the motility, size and quality, the process takes 45 minutes to an hour.

“The whole Memphasys Felix process can take six minutes!”

It’s not hard to see this will eventually reduce staffing costs – labs will need fewer people and fewer qualified people as you can have a technician run the Felix device rather than an andrologist or embryologist.

Perhaps even more importantly, the risk of damage and contamination is reduced due to the single cartridge design. The risk of sperm getting mixed up and confused is much lower, need we say more!

“The clinical trial reported no adverse events related to the FelixTM System,” Dr Ali said.

“And 100% of scientists preferred the FelixTM System over DGC; while more than half of the scientists preferred the FelixTM Systemover Swim-Up.”

“As of now, we have a product that’s clinically validated,” he said.

“Memphasys is preparing data to enter the CE Mark regulatory process”.

“Once registration is achieved this will provide the company with the opportunity to market the Felix™ System in Europe, Australia and India, as well as in markets where mutual recognition of conformity assessment is already recognised.

“This includes countries like Japan, Canada, U.S., and Switzerland, where Felix is already being sold.”

But that’s only the start.

“We already have distribution agreements in Japan, Canada, and New Zealand through Vitrolife, a Letter of Intent (LOI) with Heranova in China, and R&D sales through Panacea Medizintech LLC in the United Arab Emirates (UAE),” Dr Ali said.

“We are having conversations with external parties who wish to engage us in distribution arrangements or licensing deals. If a particular entity is interested in buying the device, I’m interested in looking at a deal around that.

“The message to our shareholders will be commercialisation, commercialisation, commercialisation in 2025, getting this product registered, trying to expedite that time, and to get it sold in market, and do commercial deals – that will be the focus.”

The commercial opportunity is substantial. On that, Dr Ali has told HotCopper: “China is 33% of the global market, one of their clinics could do up to the same number of cycles as Australia would do in one year.”

“It’s a huge market; there’s huge opportunity there.”

Next on the hit list would be Japan as well as India, the latter of which has seen 11 couples deemed sterile birth healthy children in the wake of a 2023 trial of Felix.

“When you think that both China and India have mandates given by the Government to increase the population, there’s no reason why Felix won’t fit into the reproductive paradigm in those countries,” he said.

“Really importantly, our revenue model is extremely exciting as well,” Dr Ali explained.

“It’s based off the printer and ink revenue model. Nowadays you purchase a printer unit which is relatively cheap – as is our console.

“The revenue and return sales are generated by the consumable… which is the cartridge. Each cartridge is a single-use cartridge, so if you’re doing 20,000 cycles a year, you will be using 20,000 cartridges, for example, and you must use new cartridges each time. It’s a really good way to generate revenue.”

MEM’s Felix™ System is an automated sperm separation device, utilising electrophoresis and a proprietary membrane technology to gently separate sperm for Assisted Reproductive Technology (ART) procedures.

The Felix™ device consists of two main components: a console, which supplies electrical power, and a sterile disposable cartridge for sperm isolation and selection.

Memphasys has identified a need in the equine industry.

“We’ve found the device can actually be used off the shelf to separate sperm for horses or horse breeding,” he said.

“No more R&D has to go into changing Felix or altering Felix from its current state, which is a huge advantage.

“We are currently talking to people in the equine market that are interested in the device and applying it to horses.

“There are applications across many other animals – we’ll be happy to explore those.”

There’s a new RoXsta (rapid in-vitro antioxidant assessment) in the wings too.

Memphasys’s RoXsta device will quickly measure oxidative stress which can affect fertility in both humans and animals because oxidation can affect sperm quality.

“It’s a very high-value area to look at,” Dr Ali said.

“We expect to be the first in market as a point of care rapid clinical diagnostic and we see clinicians in the IVF space could use this device within their clinic rooms.

“They’ll be able to get readings on oxidative stress levels for their patients and then be able to prescribe the right medication or antioxidants to them almost immediately.

“This will transform oxidative stress diagnostics.

“It will help to resolve and manage many key factors in: Male fertility; cardiovascular disease; livestock health; food technology; and the cosmetics industry – it can be used in multiple industries globally and for multiple applications within those industries.

“We are hopeful for another huge success.”

Given all of this, you’d have to think that big pharma and device companies could be watching, or even circling.

Time will tell.

Memphasys last traded at 0.7c.

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The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

Actinogen has entered the new year with a major milestone: The World Health Organisation (WHO) granted Xanamem a medical, non-proprietary name – “emestedastat” – cementing its status as a novel treatment candidate.

This key recognition not only validates the drug’s potential but also marks it as the first in a new class of medications designed to regulate brain cortisol levels; a critical factor in Alzheimer’s progression.

The WHO’s designation is a pivotal step toward the commercialisation of Xanamem/emestedastat. International Non-proprietary Names (INNs) are essential for the global identification and safe prescription of pharmaceuticals, allowing widespread adoption in scientific literature, labelling, and regulatory approvals. 

With the suffix ‘stedastat,’ the WHO acknowledges emestedastat as part of a new class of drugs – enzyme inhibitors of 11β-HSD1 – that target elevated cortisol levels in the brain. It’s this distinction that sets Xanamem apart as a first-in-class ‘tissue cortisol synthesis inhibitor,’ a groundbreaking approach to Alzheimer’s treatment.

“This recognition highlights Actinogen’s leadership in 11β-HSD1 enzyme inhibition, a mechanism designed to control brain cortisol and deliver clinically meaningful benefits for patients with Alzheimer’s disease and major depressive disorder,” Actinogen’s CEO and managing director Dr. Steven Gourlay, said.

“Based on positive outcomes in Phase 2 trials with the 10mg daily dose of Xanamem in both Alzheimer’s and major depression, we have strong confidence in the drug’s potential to drive meaningful progress in future trials.”

Extensive research has linked elevated cortisol levels in the brain to an increased risk of Alzheimer’s and early memory loss. The enzyme 11β-HSD1, responsible for producing cortisol in brain tissue, is found at high levels in key regions associated with cognitive impairment, including the hippocampus, frontal cortex, and cerebellum. 

By inhibiting this enzyme, Xanamem directly targets these brain regions, potentially slowing disease progression. The drug has been evaluated for safety and efficacy in eight clinical trials, involving approximately 400 volunteers and patients, showing promising effects in biomarker-positive Alzheimer’s patients and those with moderate depression. 

Actinogen’s XanaMIA Phase 2b/3 trial is now underway, enrolling 220 participants in Australia and the US. These patients, diagnosed with mild to moderate Alzheimer’s and elevated levels of the pTau181 biomarker (a predictor of disease progression), will receive either a 10mg daily dose of Xanamem or a placebo. 

The trial’s primary endpoint is the Clinical Dementia Rating Scale – Sum of Boxes (CDR-SB), an internationally recognized standard for assessing Alzheimer’s progression. Initial results from an interim analysis of the first 100 participants after 24 weeks of treatment are expected in Q4 2025, with final results anticipated in the second half of 2026. 

So far, 25 trial sites have begun pre-screening potential participants, with approximately 400 individuals tested for the pTau biomarker.

More than 40 patients have already entered the 36-week treatment phase, and an additional 20 are in the final stages of screening.

Adding to this momentum, a recently published peer-reviewed paper in Clinical Pharmacology in Drug Development confirmed a 10mg daily dose of Xanamem is optimal for current and future trials. The study validated the use of advanced pharmacodynamic measures – including PET imaging and cognitive testing – to determine the ideal dosage for maximum clinical efficacy.

Beyond clinical trials, Actinogen is preparing for the commercialisation of Xanamem. In a strategic move, the company appointed U.S.-based Andrew Udell as chief commercial officer, reinforcing its market expansion efforts.

Key regulatory discussions are also on the horizon. Actinogen is engaging with the Food and Drug Administration (FDA) to define marketing approval criteria for Alzheimer’s and major depressive disorder. And, the company is in talks with potential co-development partners to accelerate the drug’s path to market.

To safeguard its innovation, Actinogen is strengthening its intellectual property portfolio. Data exclusivity laws in all major markets provide robust protection against generic competition, while newly granted patents ensure long-term market positioning for Xanamem. 

Meanwhile, the company is ramping up drug substance manufacturing and preparing additional peer-reviewed publications to further validate its scientific findings. In parallel with the XanaMIA trial, Actinogen is conducting ancillary studies to support late-stage clinical development. 

With its first-in-class status, strong clinical trial momentum, and strategic commercialisation efforts, Actinogen is positioned for a pivotal year in 2025. If successful, Xanamem/emestedastat could reshape the treatment landscape for Alzheimer’s and major depressive disorder, offering hope to millions worldwide.

Actinogen shares opened at 3.2 cents each through Wednesday morning.

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A gold explorer, developer, and soon-to-be producer set up to win under this rubric is Quebec-based LaFleur Minerals (CSE:LFLR).

It has a market capitalization of C$15.22 million and its stock has given back 17% since acquiring its flagship Swanson Gold project in July 2024 – even though the company has positioned itself for near-term production as gold hovers near all-time-highs.

Key phases along that timeline include:

Let’s explore LaFleur’s two primary assets to better understand why they hold the potential to deliver significant long-term value.

The 15,290-hectare Swanson project resides in mining-friendly Quebec, specifically in the world-renowned Abitibi Greenstone Belt, which has been a leading contributor to Canadian gold exploration and production for over a century.

Swanson boasts 22 gold showings, as well as critical mineral showings housing silver, copper, zinc, lead, and molybdenum, all near robust infrastructure and situated along a volcanic corridor up to seven kilometres wide and 27km along strike.

Mineralization is hosted by ultramafics (fuchsite), altered mafic volcanics and syenite intrusions, which can indicate the presence of high-grade gold and visible gold.

Swanson’s substantiates its proximity to numerous gold producers (slide eight) including Agnico Eagle and Eldorado, as well as developers such as Probe Gold and O3 Mining, with a value-added 2024 mineral resource estimate that achieved an 8% increase in indicated gold ounces and a 626% increase in the number of inferred ounces compared to a 2021 historical estimate. This doesn’t account for the project’s untapped exploration upside, as highlighted by:

To continue fostering Swanson’s ounce-count and shareholder value, LaFleur recently completed a high-resolution airborne magnetics and very low frequency electromagnetic (VLF-EM) geophysics program over the Swanson gold deposit, with management interpreting the results.

Additionally, assays from soil geochemistry and prospecting programs remain pending, offering a multitude of vectors to define drill targets and clarify the full extent of the deposit’s value proposition.

To this multitude, LaFleur is adding further mapping and prospecting covering the Bartec and Jolin deposits, as well as other prospective areas of the Swanson project’s over 15,000-hectare land package, in addition to an induced polarization-resistivity ground geophysics survey over 166 line-km scheduled between January and February 2025.

Management expects to begin up to 10,000 metres of drilling by mid-2025, contingent on permitting, with the goals of increasing project resources to over one million ounces of gold and continuing ongoing work to update Agnico Eagle’s 2009 preliminary economic assessment (PEA) under an open-pit scenario.

According to Louis Martin, LaFleur’s technical advisor and exploration manager, ongoing exploration efforts position the company to exploit low-hanging fruit – beginning with the Swanson deposit’s surface-level open-pit portion – thanks to its recently acquired Beacon mill, paving the way for self-funding the development of the project’s underground prospectivity.

LaFleur’s go-to-market strategy focuses on the fully permitted Beacon mill and past-producing gold mine, located within 50 kilometres of the Swanson gold deposit and along the southeast contact of the Bourlamaque Batholith near numerous gold mines, including Wrightbar, Beaufor, and Lamaque, many of which lack in-house processing infrastructure.

The mill is equipped to process 750 tons per day (tpd) after undergoing C$20 million in refurbishments by previous owner Monarch Mining in 2021-2022, but has been under care and maintenance since early 2023.

The Beacon land package also includes a tailings management pond, underground installations, a 500-metre shaft and headframe, a ramp and a mechanical shop from the Beacon mine, saving LaFleur tens of millions of dollars compared to building a facility from scratch and enabling the company to more easily scale its way towards lower costs and higher profitability.

The Quebec Government has also authorized the company to process up to 1.8 million tons of tailings, representing about nine years of mineral processing at full capacity, expanding the facility’s revenue generation capabilities.

LaFleur recently initiated high-level pre-feasibility work to restart the Beacon mill with feed from the Swanson project, including Bartec and Jolin, and is partnering with local mining services contractor ABF Mines to refine its approach regarding staffing, ongoing maintenance and repairs, and potential production upgrades.

Initial results from this work, expected in Q1 2025, will inform the path to production, backed by C$2.8M raised in December 2024 for further drilling, advancing economic studies and upgrading resources to reserves.

According to Paul Ténière, LaFleur’s chief executive officer, LaFleur is focused on generating near-term cash flow from Beacon through third-party feed to self-fund it growth plans, including ushering the Swanson deposit towards an open-pit operation over the next 12 to 18 months, working to establish resources at Bartec and Jolin, and continuing to explore the project’s district-scale land package.

Numerous parties at the PEA and PFS level with nearby up to multi-million-ounce deposits are in discussions with the company about processing their ore and potentially funding the mill’s restart.

With its stock last trading at C$0.29, having lost almost one fifth of its value since July 2024, LaFleur’s production and resource expansion upside and gold’s recent run-up to all-time-highs have yet to be priced in.

This dynamic lays the groundwork for a potentially significant share price re-rating contingent on the gold price remaining strong in line with expectations from Goldman Sachs, UBS and Deutsche Bank, among other leading financial institutions, facilitating LaFleur’s path to validating and initiating production, unlocking cash flow and building scale to better capitalize on opportunities regardless of gold market conditions.

From Ténière’s perspective, this re-rating may come in the form of mergers or partnerships, with LaFleur engaged in numerous ongoing discussions with groups as far as Australia to optimize shareholder value creation.

This interest in LaFleur’s assets, according to Martin, is thanks to the company’s diligent development, growing Monarch Mining’s initial two mineral showings to over 25. Further strategic expansion deals are currently being ironed out to enhance exposure to the Swanson project’s mineralized envelope, in which he sees multi-million-ounce potential.

With upcoming prospecting, surveying, drilling and deal flow serving as potential catalysts towards greater market awareness, LaFleur likely won’t be trading under the radar for long.

Join the discussion: Find out what everybody’s saying about this Canadian gold mining stock on the LaFleur Minerals Inc. Bullboard today.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

The product developed from PVP-iodine (the same active ingredient in the antiseptic brand Betadine) and is available to Australians online.

Firebrick is already establishing other markets in the US, Singapore, Fiji, South Pacific and the Philippines.

Dr Molloy – who launched Betadine in Australia – speaks about how the human mindset has changed in relation to viruses since COVID. He says there’s also widespread fear of future pandemics.

“We’re on a quest,” he says.

“We have a moral, ethical obligation to make Nasodine available worldwide.”

Firebrick Pharma is a pharmaceutical developer focused on developing and commercialising novel formulations and uses of povidone-iodine.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

The policy should not itself be surprising, given Trump’s comments during the election cycle that tariff was “the most beautiful word in the dictionary.”

Indeed, since his inauguration, this issue has become a focal point, with imports from China hit with a tariff of 10%, while both Mexico and Canada were threatened with 25% on their imports into the U.S. – although the latter policy has been postponed for now.

In response to the announcement on metal imports, Prime Minister Anthony Albanese got on the phone to Trump, hoping to exempt Australia from the regime – as Malcolm Turnbull had done during the previous Trump administration.

Exemption was now “under consideration,” according to Albanese: An optimistic development, considering Australia’s growing role as an exporter of aluminium – with 83,000 sent in 2024, in addition to 223,000 tonnes of steel.

China issued its own retaliatory response to the 10% tariff policy, announcing products such as liquefied natural gas, coal, crude oil, and farm equipment coming from the U.S. would be slugged with a 15% levy.

Trump’s tariffs on various countries – including the U.S.’s main trading partners – is not only a repeat of what he did the last time he was in the White House, but it also signals a rejection of free trade policies on the whole, despite their dominance for a good portion of the 20th century, and the whole of the 21st.

Going all the way back to between 1798 and 1913, tariffs constituted 50% to 90% of U.S. federal revenue, but trade liberalisation in the following decades (which became embedded from the 1930s) caused this to shrink. In the past 70 years, tariffs have rarely accounted for more than 2% of federal revenue.

But how useful are they as an economic policy?

On one hand, tariffs are a useful negotiating tool with trade partners who rely on American consumers to buy their goods. On the other hand, they often introduce higher costs for consumers and companies within the U.S.

It’s certain, however, that with the world’s largest economy shifting into this gear, other countries – and the businesses in them – will be reshaping how they trade.

With countries like Mexico and especially China facing levies on imported goods, several firms previously operating from there have closed up shop and moved manufacturing and other business activities elsewhere.

Often, it has been countries in Southeast Asia that have benefited from this shift, with Vietnam becoming a hot spot for clothing manufacturers, while Thailand has become home to factories that build electric vehicles – including those for Chinese EV companies, and Malaysia has become increasingly preferred for logistics.

To understand what it will mean for the steel and aluminium industries – both globally and within the U.S. domestically, it’s important to recognise that imported steel accounts for a quarter of the metal used in the State; for aluminium, the figure is around 50%.  

For steel, the top three suppliers are Canada, Brazil, and Mexico. Canada is also in top spot when it comes to aluminium – supplying nearly 40% of U.S. imports, while the United Arab Emirates and China are the second and third top suppliers.

During his first term as President, Donald Trump placed a 25% tariff on steel imports and a 10% one on aluminium coming into the U.S.

This pushed up local steel prices – boosting the short-term fortunes of American firms – but also passing on costs to industries such as construction and producing a glut of U.S.-produced steel on the market.

But industry figures responded positively to the recent policy, with Steel Manufacturers Association President Philip K Bell remarking, “The steel industry in America faces serious threats from foreign actors that seek to destroy domestic production.”

He also suggested that the 25% tariffs would go some way to levelling the playing field for local manufacturers and workers.

Among the companies aiming to capitalise on the tariff regime is Magnum Mining and Exploration Ltd (ASX:MGU), which owns the fully permitted Buena Vista mine in Nevada. 

In the same week of Trump’s announcement on steel tariffs, Magnum’s board kicked off a comprehensive review of its supply strategy, putting the spotlight on opportunities to supply ore locally within the U.S. market.

The review took non-executive director Neil Goodman to China, where he met with members of The Luli Group, which owns major steel manufacturer Shandong Luli Iron and Steel Co. Luli recently purchased a technology IP and plant associated with the HIsmelt process used by Magnum on its Buena Vista ore, and the company’s discussions with Mr Goodman form an important part of Magnum’s ongoing work to strengthen its supply chain resilience and explore avenues for supplying high-quality raw materials to the North American market.

Buena Vista has been moved successfully along the development pathway with the completion of a scoping study and technical feasibility refresh, both in August 2023. The former showed the 232 million-tonne resource could be processed into a Direct Reduction Iron grade concentrate, while the latter indicated this concentrate would be suitable for transformation into pig iron using the HIsmelt technology.

Chairman Luke Martino said the company would focus on adapting its plans to the current tariff policies.

“With the U.S. reinforcing its commitment to domestic production, Magnum is proactively assessing how best to align our supply chain strategy to meet market demands,” he said. 

“Our goal is to continue delivering high-quality iron ore solutions while maintaining a competitive edge in a shifting trade environment.”

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EVR has just recently received the first assays from sampling stockpiled material mined at the project’s “three pit.”

Three results ranged between 18.08% and 29.17% antimony and have been submitted to a laboratory for initial metallurgical test work at the Universidad Autonoma de Coahuila Metallurgical Faculty in northern Mexico.

Another sample taken from the high wall of the open pit on Los Lirios 3 licence assayed15.27% antimony. More assay results are to come.

The samples were collected by EV Resources during a field trip last month.

EV Resources has begun discussions with the owners of a plant that may be suitable as apilot plant for trial processing of material from Los Lirios.

It intends to investigate options for trial mining and processing with a view to betterunderstanding the geology and metallurgy of the project.

EV Resources has also agreed to acquire 70% of a joint venture in return for providing funding until a 300-tonne-per-day mine and processing plant is established.

It’s now planning for an exploration campaign and, by the end of next month, it will be sampling and trenching, to define drill targets at Los Lirios.

In the meantime, EVR Managing Director Hugh Callaghan says he’s pleased with progress.

“These initial assay results are pleasing, and support the view we have taken that Los Lirios is potentially a near-term producer of high-grade antimony mineralisation,” he said.

“We are looking at options for trial processing of ore.

“We are increasingly confident that our entry to the antimony market can give us near-termmomentum while our longer-term focus remains our large high-grade Parag copper-molybdenum-silver porphyry project in Peru.”

For a quick look at that, Molybdenum is produced at 76 mines around the world, but more than half are in China – which is imposing export controls.

EV Resources holds 70% of the Parag Copper-Molybdenum Porphyry Project in Peru which is being developed to supply to the U.S.

The more than 80 holes already drilled at Parag show consistent high-grade molybdenum, which is a by-product of copper.

There were 627 million pounds of molybdenum produced around the world in 2023. Behind China, Peru and Chile were the next biggest producers – each supplying 15% of global supply.

The commodity traded on the London Metals Exchange, and at nearly US$21 a pound at the end of last week, it’s worth five times as much as copper.

EVR has today been trading up more than 7% to 0.8 cents a share.

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It’s gaining so much traction, that Wellnex is preparing to dual list on the London Stock Exchange.

But while the company may have slipped under the investor radar, the doubling of both its revenues and gross margins year-on-year has seen the spotlight swing right back over the small-cap brands company.

When I say small cap, I mean it. In fact, I mean nanocap.

WNX has a market cap below $25 million and its shares last traded at 75c.

The company has been carefully collecting a portfolio of high-margin brands and licensing deals with some of the market’s largest consumer healthcare companies.

The strengths of Wellnex Life lie in management’s ability to identify consumer trends, turn these into marketable products and then reach the shelves fast through the likes of Coles (ASX:COL), Woolworths (ASX:WOW), and Chemist Warehouse.

The portfolio includes the energy supplement Wakey Wakey, sleep aid Nighty Night, and the Iron Company, which offers a TGA-listed slow-release iron supplement combined with Vitamin C – together in one gummy.

Wellnex has forged some smart partnerships, including the collaboration with Chemist Warehouse on Wagner Liquigesic (paracetamol, paracetamol and ibuprofen and mini ibuprofen-based soft-gel capsules), where Wellnex takes care of product supply, registration and commercialisation. Chemist Warehouse manages marketing and distribution. 

Another major milestone in 2023 was the acquisition of Pain Away, the country’s second-largest pain relief brand.

Above all else, company leaders see the potential for that licensing deal with Haleon, which is gaining major traction.

Born from a spin-off from GlaxoSmithKline, Haleon is now one of the largest consumer healthcare businesses in the world, with products including Sensodyne toothpaste and Voltaren pain relief. 

Wellnex Life Managing Director Zack Bozinvoski said Haleon was interested in the Australian smallcap because of its product capabilities in soft gel paracetamol and other value-added soft gel analgesics.

“The deal struck related to Wellnex’s products being sold under Haleon’s well-known Panadol brand, where Wellnex is responsible for the TGA marketing authorisation and finished goods supply, with Haleon responsible for market launches,” he said.

“I am extremely pleased that our work is now bearing fruit in our financials, but the attention we are getting on the back of the Haleon agreement, both from industry and investors, is a testament to our capabilities as a company. 

“We are hoping that our dual U.K.-Australian listing will get the company to the valuation it deserves, benefiting our valued ASX investors.”

Last September, Wellnex Life received its first purchase order for the U.K. market, which was delivered to Haleon in November.

While the current agreement only focuses on these two geographies, there’s potential for this to widen to other markets or even different brands for Haleon, whose pain relief segment sold over $5 billion in products in 2023 alone.

Importantly, these orders from Haleon, together with growth across Wellnex’s wider portfolio, drove the strong improvement in financial performance recently announced for H1 FY25.

WNX revealed its highest gross profit ever.

The uptick was driven by both sales and gross margins – reflecting the company’s pivot from predominantly ‘brokering’ brands, to developing own brands which are showing faster growth and higher margins.

FY25 H1 saw a 112% uptick in sales over the previous corresponding period, to $12 million, as well as a doubling in gross margins over previous years’ averages, to 40% – a very healthy margin considering Wellnex uses contract manufacturers under its scalable and capital-light business model.

“When we relisted in 2021, we made $4 million a year and now we have produced two consecutive months of $3 million per month,” Bozinovski said.

Zack Bozinovski was appointed managing director in 2023 after developing brands including Voöst Vitamins, which he sold to Procter & Gamble two years earlier. 

He’s supported by CEO George Karafotias, as well as non-executive director Andrew Vidler – who spent two decades in leadership positions with the EBOS Group (Terry White & Chemmart, Endeavour brands) and four years for API Ltd (now Wesfarmers Health) where he was responsible for the Priceline retail and pharmacy businesses. He has also served with Pacific Smiles Group (ASX:PSQ).

Another director is Jeffrey Yeh, founder of Homart Pharmaceuticals; and, most recently, Wellnex appointed new chairman George Tambassis, a former director of the Pharmacy Guild of Australia and Chair of the Australian Biologics Academy (part of Arrotex) Advisory Board.

So where to now? 

Management sees several growth avenues. These include: 

“Obviously, we want to see Wellnex fully valued by the stock market, and from the discussions we have had with U.K. investors, we are hopeful that European investors can understand and appreciate what our licensing deals and brands mean for our business,” Zack Bozinovski said. 

“Our planned listing in London would open the company up to new investors and in turn that would hopefully be reflected in the Wellnex Life stock price.”

Wellnex shares last sold for 75 cents through early Tuesday morning trade.

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