News Release
Sui’s Astounding DeFi Growth Continues into 2024 as TVL Breaks the $500M Barrier
Sui
After Sui’s TVL surged more than 1500% over the last five months of 2023, its TVL has more than doubled since the start of 2024 Sui, one of the fastest-growing Layer 1 blockchains, continued its impressive DeFi growth, surpassing $500M in Total Value Locked (TVL) and solidifying itself in the top 10 of DeFi ecosystems. Alongside this torrid ascent of TVL, on-chain activity has exploded as well. Weekly DeFi volume is up 63 percent over the previous period, standing at $745M and placing it in the top 5 most active ecosystems in the past week. Sui’s continued climb demonstrates how its underlying technology is vital in empowering developers to create products that solve real-world challenges and the drive behind top projects expanding into its ecosystem. Over the past couple of weeks, Sui has announced several partnerships and expansions with industry-leading builders. Most recently, Sui announced that Ondo Finance—the third-largest organization in the real-world asset DeFi sector—is bringing its treasury-backed tokens, tokenized securities, and real-world assets into its ecosystem, as the Sui ecosystem is set to get its first native stablecoin. Sui also recently announced that Banxa, a leading payments infrastructure provider for the crypto-compatible economy, will add the SUI token to its platform. Also recently announced, a partnership with Oracle Stork provides builders with faster pricing data, offering real-time pricing data across Sui’s ecosystem of developers, DEXs, and lending protocols building on Sui's blockchain. “The fact that Sui now stands amongst the top ecosystems in crypto is a testament to Sui’s technology being able to attract top-tier developers and leading projects,” said Greg Siourounis, Managing Director of the Sui Foundation. “The recent partnership and expansion announcements, along with the surging metrics, point to Sui having true staying power. Sui is paving the way for widespread adoption and offers endless possibilities for innovation.” Sui’s object-centric model, horizontal scalability, and Move Language position it to host the most scalable solutions that have emerged from the blockchain industry to date. Its rapidly rising TVL results from multiple Sui-based protocols and applications leveraging Sui's strengths. Sui also saw two ecosystem protocols break $100M TVL for the first time in the network’s history. Navi Protocol now stands at over $114M TVL (up 184% over the last 30 days), while Scallop Lend has surged to over $116M TVL (up 258% over the last 30 days). Cetus ($72M), Aftermath Finance ($58M), and FlowX Finance ($49M) round out the top five projects as measured by TVL. Contact Details Sui Foundation Sui Team media@sui.io
February 05, 2024 01:26 PM Eastern Standard Time
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News Release
Chaarat Gold makes strong progress with Tulkubash open-pit project in the Kyrgyz Republic
Chaarat Gold Holdings Ltd
Chaarat Gold Holdings Ltd (AIM:CGH) chief financial officer David Mackenzie joined Proactive's Stephen Gunnion with an overview of the company's operations in the Kyrgyz Republic, where it is advancing two significant projects on the same license: Tulkubash and Kyzyltash. Tulkubash, an open-pit project expected to produce approximately 95,000 ounces of gold annually, is nearing operational readiness. The project requires 18 months to build, with a recently completed EPC contract and is awaiting final financing. Additionally, Mackenzie highlighted the potential of the nearby Kyzyltash project, an underground venture poised to yield 350,000 ounces annually. This project, slated for a feasibility study refresh in 2025, promises to substantially enhance the company's gold production capacity. Mackenzie also discussed the strategic importance of the Kyrgyz Republic as a mining jurisdiction. The region has seen renewed interest in foreign investment, attributed to the proactive efforts of the new government, including outreach initiatives and participation in international forums. He said the company is focused on completing project financing in Q1 2024 and initiating the EPC with Power China in Q2 2024. The company anticipates first gold production by Q4 2025. Contact Details Proactive UK Ltd Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
February 05, 2024 01:17 PM Eastern Standard Time
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News Release
Millennial Potash releases Maiden Mineral Resource Estimate on Banio Potash Project
Millennial Potash Corp
Millenail Potash Corp Chairman Farhad Abasov joined Steve Darling from Proactive to share significant news regarding the company's Banio Potash Project in Gabon. Millennial Potash has released the results of its maiden Mineral Resource Estimate (MRE) for the northern part of the Banio Potash Project. The MRE incorporates new assay data from historic holes BA-002 and BA-003, along with assay results from additional potash cycles encountered during the drilling extension of BA-002, which was completed in September 2023. The MRE encompasses both Indicated and Inferred Mineral Resources. The Indicated Mineral Resources are estimated to be approximately 657 million tonnes, with a grade of 15.9% KCl, equating to 104.6 million tonnes of contained KCl. In contrast, the Inferred Mineral Resources are estimated to be approximately 1.159 billion tonnes, with a grade of 16.0% KCl, equating to 185.3 million tonnes of contained KCl. Abasov explained that this MRE forms a solid foundation for the upcoming Preliminary Economic Assessment (PEA). The PEA will explore various production scenarios utilizing solution mining and will likely include a proven processing route for the production of Muriate of Potash (MOP) directly on the Atlantic coast. These developments are significant milestones for Millennial Potash as the company advances its Banio Potash Project and further solidifies its position in the potash market. Contact Details Proactive Canada Proactive Canada +1 604-688-8158 action@proactiveinvestors.com
February 05, 2024 01:13 PM Eastern Standard Time
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News Release
Reunit Wallet Launches Reward Program: Trade To Earn
Reunit
Reunit Wallet, an omnichain wallet built on technology developed by LayerZero & Stargate Finance, is launching a volume-based reward program. In an effort to stimulate trading activity on its integrated platform and attract new users, Reunit Wallet is implementing a reward system for traders. Starting now, for every $100 in generated volume, users will receive 1 REUNI. Additionally, if a referral code is used, a 25% bonus will be applied. Users who share their referral code will also enjoy a 25% bonus on the rewards generated by the traders they've referred. Furthermore, Reunit Wallet has plans to soon introduce a staking feature for REUNI tokens. Participants in the staking program will receive 50% of the fees generated from transactions made through Reunit Wallet. Useful links Website: Twitter / X: About Reunit Wallet: Created by a former core-team member of Sushiswap (2020-2022), Reunit Wallet is the first natively omnichain wallet that enables seamless batch transfers across multiple blockchains with a single click. It also offers an integrated trading terminal supporting limit and market orders, providing a comprehensive and seamless trading experience. Security is a paramount priority for Reunit Wallet, which is why the wallet conducts a comprehensive simulation of each transaction and signature, allowing the user to anticipate the outcomes of their transaction, including token transfer confirmations or the granting of necessary permissions. Contact Details Reunit Wallet B.Naïm contact@everywhere.finance
February 05, 2024 01:07 PM Eastern Standard Time
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News Release
Flora Growth Corp's CEO Reveals Record-Breaking Financials and Exciting 2024 Plans
Flora Growth Corp
Flora Growth CEO Clifford Starke joined Steve Darling from Proactive to share exciting news about the company's remarkable financial performance and its strategic plans for the future. Flora Growth is a diversified company with three main pillars, and it recently reported its best-ever financial results. Starke highlighted Flora's three core pillars, Vessel which is a rapidly growing brand with widespread distribution, the CBD Gummy Division, and Fatima a pharmaceutical company based in South Germany. The company recently went under strategic restructuring, which included the sale of an unprofitable Colombian entity and streamlining its team, which led to a net income of $1.1 million in the last quarter. The success of the last quarter is attributed to these strategic decisions, setting the stage for a promising 2024. Looking ahead, Flora Growth plans to enter the rapidly growing US beverage market by launching a product called Mellow in Q1. Leveraging its strong distribution network, the company aims to capitalize on the untapped potential in the beverage segment. Starke emphasized the importance of continuous product innovation, hinting at upcoming releases in 2024 that will compete with established brands in the dry herb space. As Flora Growth anticipates a record-breaking year, Starke highlighted their commitment to product innovation and strategic expansion, positioning the company as one to watch in the cannabis industry. Contact Details Proactive United States Proactive United States +1 347-449-0879 action@proactiveinvestors.com
February 05, 2024 01:03 PM Eastern Standard Time
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News Release
LNG Energy CEO Pablo Navarro Reveals Exciting Discoveries and Ambitious Plans for 2024
LNG Energy Group Corp
LNG Energy Chairman and CEO Pablo Navarro joined Steve Darling from Proactive to discuss the company's latest developments and future prospects. The company marked a significant milestone in the fall of 2023 when it went public, following the acquisition of the Colombian exploration and production assets of Lewis Energy Group, the third-largest natural gas producer in Texas. This acquisition was successfully completed on August 15, 2023. In the interview, Navarro elaborated on the company's journey and its transformation following the go-public transaction. Drawing on the legacy of Lewis Energy Colombia, which had been operating in Colombia for 17 years, LNG Energy Group is poised to grow and develop its portfolio swiftly and responsibly. The company operates in five blocks in Colombia, with its primary producing field, Bullerengue, strategically located near easily accessible high-demand markets. One of the key highlights discussed was a recent discovery in the Bullerengue West 5 well, which yielded both natural gas and black oil. This discovery not only expands the existing field but also demonstrates the presence of oil independently, adding to the company's asset value. Looking ahead to 2024, LNG Energy has ambitious plans, including drilling three to four wells and conducting workovers to enhance productivity and increase cash flow. The company's goal is to achieve self-sustainability by using existing cash flows to fund operations and meet financial obligations. The interview underscores the promising outlook and busy year that lies ahead for LNG Energy Group, building on its strong foundation and growth potential. Contact Details Proactive United States Proactive United States +1 347-449-0879 action@proactiveinvestors.com
February 05, 2024 12:47 PM Eastern Standard Time
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News Release
Hercules Site Services says new construction academy aims to address skills shortage in the UK
Hercules Site Services PLC
Hercules Site Services PLC CEO Brusk Korkmaz tells Proactive's Stephen Gunnion that the newly-launched Hercules Construction Academy is a pivotal move to address the significant skill shortage in the UK construction industry, particularly exacerbated after the UK's departure from the European Union. Korkmaz highlighted the academy's aim to not only provide a solution for Hercules but also to contribute nationally. With the construction sector facing a dire need for skilled labour, the academy promises to offer a wide range of courses including all accredited by the Construction Industry Training Board (CITB) and the National Open College Network. The academy is set to embrace modern construction methods, aiming to make the sector smarter, greener, and more efficient. In its first year, the academy plans to train over 400 individuals, emphasising construction as a career choice and not just a temporary job. With the capacity to expand staff and student intake, the academy is well-positioned to support the UK's growing infrastructure projects, including HS2 and various billion-pound developments, underscoring Hercules' commitment to training the next generation of construction workers and engineers. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
February 05, 2024 12:40 PM Eastern Standard Time
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News Release
Helium One Global achieves milestone as Itumbula West-1 well yields up to 4.7% helium concentrations
Helium One Global Ltd
Helium One Global Ltd chief executive Lorna Blaisse joined Proactive's Stephen Gunnion with news of a groundbreaking discovery at the Itumbula West-1 well in the Rukwa Rift Basin in Tanzania, where testing confirmed significant helium concentrations up to 4.7%, marking a major milestone for the company. This discovery led to a near doubling of the company's share price, underlining the market's strong response to what is potentially one of the largest sources of primary helium globally. Unlike many projects that produce helium as a byproduct of hydrocarbon extraction, Helium One's project is unique for its pure helium, nitrogen, and now hydrogen mix, without any methane or carbon dioxide, making it exceptionally promising for industrial and technological applications. The CEO highlighted the strategic adjustments made in drilling locations to target fault zones rich in helium, a move that has paid off by tapping into high-quality reserves. Additionally, the project revealed a surprising 2.2% concentration of hydrogen, further enhancing its value. This hydrogen discovery, significantly above background levels, fits the geological model and adds another layer of commercial potential, especially considering the global demand for hydrogen as a clean energy source. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
February 05, 2024 12:37 PM Eastern Standard Time
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News Release
Europa Oil & Gas says Inishkea West gas prospect presents lucrative development opportunity
Europa Oil & Gas (Holdings) PLC
Europa Oil & Gas PLC chief executive William Holland joined Proactive's Stephen Gunnion after the company received a crucial license extension for its gas project offshore Ireland, showcasing confidence in the company's technical and financial preparedness. Holland said the positive development follows extensive seismic reprocessing efforts that enhanced imaging and reduced risks associated with the project, particularly around the Inishkea West prospect. The reprocessing, progressing from 10 to 30 Hertz, aims to fine-tune the prospect's imaging without materially altering its significant potential, highlighted by its proximity to existing infrastructure and its potential to provide 1.5 trillion cubic feet of recoverable gas. The strategic importance of the Inishkea West prospect lies not only in its substantial gas reserves but also in its ability to significantly reduce Ireland's reliance on imported gas, thereby enhancing national energy security. Holland emphasized that domestic gas from this project would have far lower emissions compared to imported LNG, aligning with environmental goals. The company is poised to re-engage with potential partners to further develop this opportunity, emphasizing the project's alignment with European gas market demands, its quick path to cash flow due to nearby infrastructure, and its strong risk-reward profile. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
February 05, 2024 12:34 PM Eastern Standard Time
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