The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Poolbeg Pharma PLC - London-based infectious disease focused biopharmaceutical company - Says that the opposition to Immunomodulator I, one of its European patents, which was previously filed by a third party is to be withdrawn. Explains that, further to engaging with the opposing party, it has reached an amicable conclusion in relation to the patent dispute without any financial compensation between the parties. This has resulted in the opposing party agreeing to withdraw its opposition to the Immunomodulator I European patent and agreeing not to challenge any of Poolbeg’s Immunomodulator I or Immunomodulator II patents in the future. Subsequently, Poolbeg will be communicating with the European Patent Office regarding the necessity of continuing with the scheduled hearing in November.
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Chill Brands Group PLC - Colorado, US-based CBD products company - Says that talks with retailers are ongoing and ‘constructive’, despite recent UK regulations targeting vaping. Notes that it ‘welcomes’ measures to improve industry social responsibility, and reduce the prevalence of underage vaping, adding that it is ‘clearly important that steps are taken to safeguard children’. Says that shareholders can take comfort that the business is agile and well-equipped to accommodate any regulatory changes that come to pass. Chill Brands also says that it has already worked with its manufacturing partners to design discreet reusable vapour devices, which mirror the look and feel of a disposable vape but accommodate pre-filled e-liquid cartridges that can be replaced at will without the need to dispose of the battery unit.
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Cobra Resources PLC - Gold, rare earth and iron oxide copper gold ore deposits exploration company focused on the Wudinna project in South Australia - Signs a memorandum of understanding with Watercycle Technologies Ltd, a UK-based deep tech company focused on developing sustainable, high-yield, low-cost, mineral extraction and water treatment systems. Under the agreement, both companies will collaborate on sustainable rare earth elements extraction via membrane desorption and filtration. Says that the memorandum is the first step in forming a partnership to progress the process for REE extraction from the company’s Boland ionic REE discovery, where innovation and flowsheet development will form the basis of commercialisation.
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Begbies Traynor Group PLC - Manchester, England-based business recovery, financial advisory and property services consultancy - Says that the last financial year was ‘another successful year of further growth’. Says its performance came from broadening its range of services to ‘an increasingly diverse’ range of clients. Adds that at this early stage of the financial year, the firm’s expectations remain unchanged and it is confident of delivering market expectations for the full year. Analyst forecasts are currently predicting adjusted profit before tax of £21.9 million to £22.5 million. Begbies says that with 80% of income generated from counter-cyclical and defensive activities, it remains well-positioned in the current challenging economic environment. Executive Chair Rick Traynor adds: ‘Overall, the group remains in a strong financial position and well placed to continue to invest in the business, both organically and through acquisitions, to further build our scale and range of complementary services.’
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Unicorn Mineral Resources PLC - Irish mineral exploration company, focused on exploration for carbonate-hosted copper, lead, zinc, and silver mineral deposits in the Irish Midlands ore field - Says that visual interpretation of the initial core samples from the drilling at its flagship Kilmallock project indicated a major fault zone running approximately North to South and dipping steeply to the East. After receiving this data, Unicorn revised the drill programme to confirm the geological model. It expects results back from this testing by the end of September, and says that until these have been received, the company is not in a position to give any definitive information on what the drilling indicates or the grade of any mineralisation discovered. However, notes that a visual inspection of the cores does indicate mineralisation, which looks to be analogous to that seen at the Pallas Green system. The board are sufficiently encouraged by the initial analysis to be planning an orientation survey, to take place in October and November, to the South and South-East of the current drilling.
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