The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Polarean Imaging PLC - London-based medical‑imaging technology - Receives first order for gas blend cylinder for the production of Xenoview from Cincinnati Children’s Hospital Medical Center. Says Xenoview is the ‘only hyperpolarised contrast agent approved by the US Food & Drug Administration for use with magnetic resonance imaging for the evaluation of lung ventilation in adults and paediatric patients aged 12 years and older’. Notes Xenoview has not been evaluated for use with lung perfusion imaging. Says the cylinder should provide adequate doses for over 100 patient scans, while it expects Cincinnati Children’s to begin scanning of hospital clinic patients in May. Chief Executive Officer Richard Hullihen says: ‘Since receiving FDA approval at the end of 2022, we have been working diligently to clear the path for commercial distribution of our proprietary gas blend to sites that already have Xenon MRI infrastructure. We are delighted to secure our first sale of a cylinder and cartons of dose delivery bags for clinical use as we continue to execute our commercial plan.’
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Supply@Me Capital PLC - London-based financial technology platform provider used by manufacturing and trading companies to monetise their inventory - Secures a binding commitment from an unnamed institutional investor to invest in the first of its inventory monetisation solutions products. Say this is part of its action plan to work with a consortium European investors to fund IM transactions with monetisable value of up to €5 million. Says commitment will be used to monetise up to €1.2 million of warehoused goods of an Italian client company, which it described as ‘one of the market leaders in the tyre re-treading sector with operations around the world’.
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Nichols PLC - Newton Le Willows, England-based soft drinks maker - Says expectations for 2023 adjusted pretax profit are unchanged, forecasting £25.3 million. First quarter revenue is up 4.2% to £41.2 million from a year earlier. Says this was led by Packaged unit revenue rising 7.7% to £32.0 million. Notes slower start to 2023 for Out of Home business, with first quarter revenue falling 7.8% to £9.2 million. Chief Financial Officer David Rattigan resigns from the board and will leave the company at the end of April. Says Financial Controller Gary Eden to run finance function while it conducts its search for a new CFO.
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Capital Metals PLC - Sri Lanka-focused mineral sands company - Says Sri Lanka industrial mining licenses remain suspended despite divesting 60% stake in subsidiary Damsila Exports (Pvt) Ltd to Sri Lankan national. Says it has written to Sri Lankan regulator and high-level officials raising issue and that it is ready to take legal action. This is because it has $11 million invested in the project between 2017 and 2022. Chair Greg Martyr says: ‘We continue to seek to work with the [Geological Survey & Mines Bureau] to resolve this matter as proactively as possible. We are encouraged by the support of many individuals within the GSMB for our activities but remain concerned about certain governance practices within that agency that are allowing the unwarranted and prolonged suspension of the IMLs. We are also receiving strong support from our approaches to high-level officials from the Sri Lankan and UK governments. We are hopeful that logic will prevail within the GSMB to enable us to build the project which, with a capital cost of over $80 million, will provide significant benefits to Sri Lanka through much needed foreign investment, increased employment opportunities and export revenues.’
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Sunrise Resources PLC - minerals company focused on Nevada, US - In an update on its Tolsa’s activities in the Pioche project, says testwork on several one-tonne bulk samples collected from the previously reported trenching programme is progressing satisfactorily in Tolsa’s laboratories in Spain. To commence detailed site topographic survey next month, while a resource definition drilling programme is scheduled to start in June. Notes that Tolsa has option to purchase Pioche for $1.3 million by December 28. Executive Chair Patrick Cheetham says: ‘We are pleased to see that Tolsa’s exploration programme is gathering pace ahead of its option decision towards the end of the year. We understand that the results of all work programmes to date are positive, and we look forward to seeing the results of Tolsa’s drilling programme in due course.’
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Amte Power PLC - Developer and manufacturer of lithium-ion and sodium-ion battery cells for specialist applications - Signs memorandum of understanding with CalPac Resources Ltd to use recycled copper technology to produce the anode material in CalPec’s Ultra High Power, Ultra Safe and Ultra Prime products, ‘thereby contributing to delivering the UK’s net zero goals’. Both Amt and CalPac are planning to build facilities at the Michelin Scotland Innovation Parc in Dundee, Scotland. CalPec Resources Managing Director Tom Anderson says: ‘This move represents a solid shift towards a truly circular industrial economy. Amte Power will be the first battery manufacturer to use 100% local and zero-process-emission copper in its batteries, a ground-breaking development in UK battery manufacturing’. Amte Supply Chain Director John Valentine adds: ‘We are making strong progress in securing the critical materials needed for our cells as we scale up production ahead of delivering our first gigafactory. [...] Our partnership demonstrates the potential to create an end-to-end battery industry here in the UK, powering the net zero economy of the future and unlocking green collar jobs.’
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