North Sea oil and gas and impact of the Energy Profits Levy: Cavendish insights

OKYO Pharma CEO Gary Jacob joined Steve Darling from Proactive to announce a strategic decision to accelerate the clinical development of urcosimod, its lead candidate for Neuropathic Corneal Pain. CEO Gary Jacob shared the update in an interview with Proactive, highlighting the company's decision to terminate its ongoing Phase 2 trial early in order to access and analyze masked trial data that could inform the next stage of clinical advancement. The Phase 2 trial, being conducted at Tufts Medical Center in Boston, MA, was initially designed as a single-site study to evaluate the safety and efficacy of urcosimod in patients suffering from NCP—a debilitating and poorly understood ocular condition. To date, 17 patients have successfully completed the trial. All of them were diagnosed with chronic, long-term NCP and had failed multiple prior therapies, positioning this cohort as a challenging yet highly relevant population for evaluating urcosimod's potential. According to Jacob, the trial has attracted significant attention from NCP sufferers, reinforcing the high unmet need in this patient population. NCP is characterized by severe ocular pain, light sensitivity, and discomfort that can radiate to the face or head. Its exact etiology remains uncertain but is believed to involve nerve damage and persistent inflammation of the cornea. Currently, no approved therapies exist specifically for NCP, and most patients rely on off-label or palliative treatments with limited success. OKYO’s decision to close the trial early reflects a proactive strategic shift, allowing the company to refine its clinical development path and expedite next steps. The company is preparing to launch a multicenter trial, which will include multiple clinical sites and a broader patient population, enhancing the statistical robustness and generalizability of the data. As OKYO prepares for this next clinical phase, the company remains focused on its core mission of delivering innovative therapies for underserved ophthalmic conditions. The accelerated pathway for urcosimod underscores its potential to reshape the treatment landscape for neuropathic eye disorders. #proactiveinvestors #okyopharmalimited #nasdaq #okyo #Urcosimod #NeuropathicCornealPain #BiotechNews #ClinicalTrials #FDAapproval #Ophthalmology #DrugDevelopment #CompassionateUse #EyeHealth

Foresight Solar Fund Ltd's Toby Virno talked with Proactive's Stephen Gunnion about the company’s income performance, interest rate impacts, and strategic direction. Virno highlighted that since its IPO, the company has consistently paid a growing dividend and currently offers a yield of around 10% at prevailing share prices. "We've never missed a payment," he noted, reinforcing the company's income reliability. He addressed the macroeconomic outlook, including the Bank of England’s potential interest rate cuts, saying this environment could support growth by driving electricity demand. Importantly, he explained that Foresight Solar’s share price historically correlates with UK government bond yields, meaning falling rates may positively impact valuation. Foresight Solar has taken measures to narrow the discount to net asset value, including enhancing its dividend and deploying a proprietary development pipeline. Virno stated the pipeline includes nearly one gigawatt under development globally, which offers opportunities for capital growth through development, construction, and operations. The investment strategy stands on four pillars: income and growth, geographic diversification, operational excellence, and specialist management through Foresight Group. “Operational portfolio will continue to generate revenue … distributed to shareholders in the form of quarterly dividends,” Virno said. For more updates from energy and infrastructure leaders, visit Proactive's YouTube channel. Don't forget to like this video, subscribe, and enable notifications so you never miss a new release. #ForesightSolar #RenewableEnergy #DividendInvesting #InterestRates #GreenInfrastructure #TobyVirno #SolarEnergy #SustainableInvesting #EnergyStocks #IncomeGrowth

Cavendish research director James McCormack talked with Proactive about the UK North Sea oil and gas sector and the far-reaching consequences of the Energy Profits Levy (EPL). McCormack detailed how the EPL, originally introduced in 2022 as a temporary 25% measure, has since evolved into a 38% tax lasting through 2030, creating significant investment uncertainty. He explained, “The tax rate in the UK has gone from 40% in 2021 to 78% in its current state,” highlighting the shift as a major deterrent for continued exploration and production. The interview covers how this fiscal environment has accelerated production decline and increased the UK’s reliance on imports, leaving households and businesses exposed to international energy price volatility. Cavendish attributes declining output to reduced capital expenditure, citing record-low exploration in 2024 with just four wells drilled. McCormack also discussed ongoing government consultations, including those on Scope 3 emissions, fiscal regimes, and licensing policies. He noted the environmental trade-offs of increased imports, which can be up to four times more emissions-intensive than domestic production. He warned that further inaction or policy instability could see the North Sea become a "stranded opportunity," with early field closures, rising decommissioning liabilities, and a significant risk of skilled workforce loss. For more insights from industry voices, visit Proactive’s YouTube channel. Don’t forget to like the video, subscribe to the channel, and enable notifications for future content. #NorthSeaOil #UKEnergyPolicy #CavendishResearch #EnergyProfitsLevy #OilAndGasInvestment #EnergySecurity #UKGasCrisis #JamesMcCormack #Scope3Emissions #UKOilIndustry

HeLIX Exploration PLC CEO Bo Sears talked with Proactive's Stephen Gunnion about the completion of drilling at the Linda #1 well and its implications for the broader Rudyard field development. Sears described the recent helium gas shows as “incredible,” aligning closely with prior success at the Darwin #1 well. He emphasised that the structure is intact and the company is now in a position to focus on development drilling, stating, “We have removed a great deal of risk with regards to production of this field.” Sears also addressed the presence of oil shows in the reservoir, calling it “a good problem to have.” He noted multiple positive indicators, including fluorescence and strong mud cuttings, suggesting further exploration will follow. With casing and surface cementing completed, Helix is now awaiting a workover unit to begin testing the formations of interest. Sears explained this step is imminent, and the company expects to gather more data shortly. The consistent success across multiple wells at Rudyard suggests the field may offer expanding opportunities for development, with Sears noting, “We can punch a lot more holes in this entire field.” Visit Proactive’s YouTube channel for more videos, and don’t forget to give the video a like, subscribe to the channel and enable notifications for future content. #HeLIXExploration #HeliumDrilling #Linda#1Well #RudyardField #BoSears #HeliumGas #OilShows #ExplorationUpdate #ResourceDevelopment #ProactiveInvestors #EnergySector

EnWave Corporation CEO Brent Charleton joined Steve Darling from Proactive to announce the company has received a second progress payment from Procescir, a vertically integrated Mexican agriculture firm, for the purchase of a 120kW Radiant Energy Vacuum (REV™) machine. The machine will be used for commercial production of fruit and vegetable products in Mexico. Charleton revealed that Procescir plans to produce both private-label and branded snacks, as well as provide toll drying services to established and emerging brands. A significant boost to EnWave’s royalty stream is expected, as Procescir has signed a two-year toll drying agreement with a leading American healthy snack company, which will likely utilize the majority of the 120kW unit’s capacity. To stay ahead of demand, EnWave began manufacturing the 120kW REV™ machine in late 2024, ensuring timely delivery to Procescir by July 2025. In addition, EnWave will immediately begin building another large-scale REV™ system to meet anticipated future orders from its growing sales pipeline. #proactiveinvestors #enwavecorporation #tsxv #enw #DehydrationTech #VacuumMicrowave #RoyaltyBusinessModel #BluechipClients #FoodTech #BusinessNews #Investing #RadiantEnergyVacuum #Agritech #Procescir #DehydrationTechnology #FoodInnovation #SupplyAgreement #InvestmentNews #ProactiveInvestors

Tonix Pharmaceuticals Holdings has announced a groundbreaking collaborative research agreement with Makana Therapeutics, aiming to explore the potential of TNX-1500, Tonix’s anti-CD40L monoclonal antibody candidate, in advancing the field of xenotransplantation—the transplantation of animal-derived organs into human patients. In an interview with Steve Darling from Proactive, Tonix CEO Dr. Seth Lederman shared details of the preclinical partnership, which will evaluate TNX-1500 in combination with Makana’s proprietary human-compatible organs and cells, derived from genetically engineered pigs. The collaboration will initially focus on kidney, heart, and islet cell transplant models, with the broader objective of developing new treatment options for patients suffering from organ failure. The preclinical studies are designed to generate data to support a future Investigational New Drug (IND) application to the U.S. Food and Drug Administration, with the goal of enabling compassionate use of xenotransplantation therapies in patients who have no alternative treatment options. Makana’s approach centers around genetically engineered pigs that have been modified to lack swine leukocyte antigen (SLA), a key driver of immune rejection. These animals demonstrate enhanced compatibility with human biology and offer several potential advantages over competing technologies, including high fertility rates, increased litter sizes, and robust health profiles—key factors that support scalability and commercial viability in global markets. TNX-1500 is a next-generation anti-CD40L monoclonal antibody designed to modulate immune response while minimizing the risk of thrombosis—a common side effect associated with earlier anti-CD40L agents. The drug candidate holds promise in preventing organ transplant rejection, making it an ideal component of xenotransplantation protocols. #proactiveinvestors #tonixpharmaceuticalsholdingcorp #nasdaq #tnxp #Biotech #MPOXVaccine #Smallpox #TNX801 #VaccineDevelopment #ClinicalTrials #PharmaceuticalNews #MedicalResearch #WHO #GlobalHealth #InfectiousDiseases #Biopharma #ProactiveInvestors

KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) executive chairman Harry Anagnostaras-Adams talked with Proactive's Stephen Gunnion about significant developments regarding the company's Tulu Kapi gold project in Ethiopia. Anagnostaras-Adams confirmed the addition of BCM Group as both a syndicate member and the preferred mining contractor for the project. He explained, "BCM was part of the spearhead to make West African mining happen," highlighting the company’s strong background in mining across Africa. He noted that BCM’s commitment includes a contribution of US$23 million in pre-production costs, meaning KEFI's project development budget is now fully covered. He emphasised, "In essence, we're done," although some final procedural steps remain, such as certifying resettlement costs and finalising formal documentation. Anagnostaras-Adams also addressed KEFI’s strategic stance on its Saudi Arabian interests. With financial pressures alleviated by progress at Tulu Kapi, KEFI is no longer compelled to sell its Saudi assets and will focus on optimising its position in that market. Overall, the conversation highlighted that KEFI is transitioning from solving challenges to executing plans at Tulu Kapi, marking a critical inflection point for the company. Visit Proactive’s YouTube channel for more interviews and updates. Don’t forget to like the video, subscribe to the channel, and enable notifications to stay updated on future content. #KEFIGoldAndCopper #TuluKapi #GoldMining #MiningInvestment #EthiopiaMining #BCMGroup #MiningProjects #ResourceDevelopment #GoldExploration #ProactiveInvestors

Harena Resources (LSE:HREE) managing director Joe Belladonna talked with Proactive's Stephen Gunnion about the company's Ampasindava Project in Madagascar, a significant ionic clay rare earths resource positioned to meet growing global demand. Harena is advancing a large-scale JORC-compliant project with a focus on magnet metals, including neodymium, praseodymium, dysprosium, and terbium. Belladonna highlighted the project's strategic location, stating, "Madagascar is right on the doorstep of Europe. We can go across to Australia or Asia, or through the canals to the US." The company aims to produce a high-quality carbonate product from Ampasindava, serving markets worldwide. Belladonna noted that Ampasindava stands out due to its independence from China and the US, ensuring flexibility in supplying critical rare earth elements. In discussing market dynamics, Belladonna emphasised the impact of Chinese export restrictions, spotlighting a heightened need for secure supplies of magnet metals essential for applications such as AI-enabled robotics and defence technologies. Harena Resources recently reported that the Ampasindava deposit offers a mine life exceeding 100 years, with simple processing methods leading to high recoveries of rare earths. The company is progressing a pre-feasibility study to transition its current exploration license to a mining licence. Visit Proactive's YouTube channel for more videos. Don't forget to like the video, subscribe to the channel, and enable notifications for future updates! #RareEarths #Mining #AmpasindavaProject #HarenaResources #MagnetMetals #RareEarthSupply #CriticalMinerals #MadagascarMining #ElectricVehicles #CleanEnergy

Rome Resources Plc (AIM:RMR) CEO Paul Barrett talked with Proactive's Stephen Gunnion about the company's latest operational update from its Bisie North project. Barrett highlighted that preparations are underway to mobilise and restart drilling operations, with helicopters now en route to DRC from Entebbe, Uganda. The drilling campaign will focus on deeper and offset drill holes at Mont Agoma, with no further drilling needed at Kalayi following previous results. Barrett confirmed that core samples from holes 24 and 26 have been sent to Johannesburg for assay results, which are expected next week. "We have our program set out for what we're going to do going forward," he stated. Barrett also discussed the improving security situation in the region, noting that M23 forces have withdrawn from Walikale, enhancing operational safety. Furthermore, peace talks between Rwanda and the DRC are progressing, with a ceasefire and peace plan anticipated soon. The short drilling program is expected to conclude by the end of June, with resource work continuing in parallel. Rome Resources plans to provide further updates including drill results and project diagrams to stakeholders. For more videos like this, visit Proactive's YouTube channel. Don't forget to like this video, subscribe to the channel, and enable notifications for future content. #RomeResources #BisieNorth #TinExploration #MiningUpdate #DRCMining #ResourceDevelopment #DrillingOperations #MiningNews #InvestingInMining #ProactiveInvestors

Empire Metals Ltd (AIM:EEE, OTCQB:EPMLF) managing director Shaun Bunn talked with Proactive's Stephen Gunnion about the latest Air Core drilling results at the company’s Pitfield project in Western Australia. Bunn described the results as "very encouraging", highlighting the advantages of using air core drilling for speed and cost efficiency compared to previous methods. Empire Metals Ltd successfully drilled on a 100 x 100 metre grid across targeted high-grade zones at Pitfield, an ore body that extends over 40km. Bunn noted that the drilling confirmed widespread, continuous mineralisation, with some grades reaching up to 18% titanium dioxide. Bunn also revealed that over 70 tonnes of metallurgical samples were collected, allowing the company to upscale its test work. "Every one of those holes is in mineralisation. The continuity of the ore body is absolutely amazing," Bunn stated. The company plans to continue drilling to expand the high-grade zones and is moving towards a maiden mineral resource estimate (MRE) in the coming months. For more exclusive interviews and updates, visit Proactive’s YouTube channel. Don’t forget to give this video a like, subscribe to our channel, and enable notifications so you never miss future content. #EmpireMetals #Titanium #PitfieldProject #MiningUpdate #ShaunBunn #ResourceDrilling #AirCoreDrilling #Metallurgy #InvestingInMining #ProactiveInvestors