The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Pensana PLC - London-based rare earth metal miner - Signs a memorandum of understanding for the offtake of 25% of annual production to supply raw materials for the production of magnet materials. These are needed to support the rising demand for electric vehicles and offshore wind. Does not disclose financial details of the agreement.
‘This agreement represents a significant step forward in our goal of providing an independent and sustainable supply of rare earth magnets for the electric vehicle and offshore wind industries. By having a significant partner across the globe, we now have further validation from the industry that Pensana’s project is an essential element in the growing value chain for these critical minerals,’ Chair Paul Atherley comments.
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Spectra Systems Corp - Rhode Island, US-based authentication technology provider - Executes an amendment to a materials procurement contract to increase the price of specified materials supplied by approximately 21% relative to the current price. The contract is with an unnamed, long-standing central bank customer. The price increase will begin with the next order. The amendment is part of its efforts to mitigate supply chain issues. Says that it generated revenue of roughly $5.9 million from sales of the specified materials under the earlier procurement contract.
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Goodbody Health Ltd - Vancouver-based diagnostics firm - Signs a distribution agreement with Tasso Inc. Expects to be rolling the devices out through its growing network of pharmacies in the UK later this year. ‘To supplement our in-clinic services, we have also expanded our range of ’at home’ test kits offered on stands supplied though a range of outlets. We are pleased to have achieved the placement of our first 100 stands offering options for those who prefer to test in the comfort of their own home,’ the company states.
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Vulcan Industries PLC - London-based engineering services firm - Says there have been delays in finalising the audit of its annual report for the year which ended March 31. The delays have occurred as a result of the recent disposals of IVI Metallics Limited and Orca Doors Ltd. Expects to announce its audited financial statements early in October. AQSE has suspended trading in its shares at 0700 GMT on Thursday.
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PYX Resources Ltd - Sydney-based zircon producer - Secures a £20 million investment from GGY Global Yield LLC SCS. The proceeds from this capital investment will further the its effort to upgrade its mining operations and increase its production volumes.
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CML Microsystems PLC - Essex, England-based semiconductor developer - Launches a share buyback programme for up to £1.0 million. Decides to launch the programme to return funds to its shareholders. Has shareholder authority to repurchase 2.4 million shares of 5 pence each.
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Tekcapital PLC - London-based intellectual property investor - Says Innovative Eyewear Inc has licensed its brand Nautica for ‘smart eyewear.’ Expects the Nautica smart eyewear collection to launch for holiday 2022 ‘or soon thereafter.’
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NetScientific PLC - London-based life sciences and sustainability technology investment firm - Completes the end-of-phase 2 meeting with the US Food & Drug Administration for PDS0101 in combination with Merck’s anti-PD-1 therapy, Keytruda. It is for the treatment of unresectable, recurrent and metastatic human papillomavirus 16-positive head and neck squamous cell carcinoma.
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Rainbow Rare Earths Ltd - a Guernsey-based mining company focused on South Africa and Burundi - Says the preliminary economic assessment for its Phalaborwa rare earth project in South Africa confirms robust economics. Identifies total production of 26,208 tonnes of separated magnet rare earth oxides with a weighted average sales value of $137.92 per kilogrammes, generating $3.6 billion of revenue over 14.2 years. The PEA was conducted by METC Engineering.
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Ince Group PLC - London-based law and professional services firm - Agrees conditional heads of terms for the sale of Ince Gibraltar Ltd and Ince Consultancy Gibraltar Ltd, its two subsidiaries in Gibraltar. Agrees to sell Ince Gibraltar to Peter Howitt, a director of Ince Gibraltar, and Heather Adamson, an employee, for £700,000 in cashless approximately £210,000 in respect of certain costs.
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