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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NetScientific PLC - life sciences focused investor - Invests in Wanda Connected Health Systems Ltd, platform for remote patient monitoring and virtual care operating in the UK and US. It snaps up a 30% stake. In 2019, NetScientific sold its 90% interest in Wanda’s US operation to Disruptive Growth Investments Ltd, or Deeptech, as it was ‘no longer in a position to provide financial support to Wanda US’. Deeptech was managed by EMV Capital, now part of NetScientific. The firm adds: ‘The NetScientific Directors believe that the Wanda business has now been materially de-risked, having made significant commercial and operational progress, underpinning significant growth prospects, placing it in a stronger position than in 2019. The board is accordingly delighted for the Group to be in a position to re-acquire a strategic stake in Wanda, providing it with exposure to the fast-growing remote patient monitoring market. The investment is in line with the company’s strategy of deepening stakes in selected portfolio companies with high return potential.’
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Inspirit Energy Holdings PLC - London-based waste heat recovery technology and decarbonisation engineering solutions company - Wins order to develop and sell a waste heat recovery engine to Eqtec PLC. The contract is to supply one initial unit for £150,000, but also includes the option for a further 10 units at £150,000 each from 3 years from the date of the agreement. Chair John Gunn says: ‘We are delighted with this endorsement of our technology, and it goes to demonstrate that the Inspirit WHR appliance is suitable for marine, automotive, and light industrial engines, where it can be retrofitted.’
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Graft Polymer (UK) PLC - London-based developer and producer of polymer modification and drug delivery systems - Files US patent application for use of self-nanoemulsifying drug delivery systems platform, for delivery of drugs to treat substance use disorders. ‘The filing of this patent marks further progress in the Company’s strategic focus on the healthcare industry, following the disposal of its industrial plastic manufacturing unit, Graft Polymer DOO,’ it adds.
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Shield Therapeutics PLC - Commercial-stage pharmaceutical company focused on iron deficiency product Accrufer - Says partner Korea Pharma Co Ltd submits new drug application to South Korea’s Ministry of Food & Drug Safety, with the aim of Accrufer being approved to treat patients with iron deficiency anaemia. ‘Pending a successful review, approval of Accrufer in Korea is anticipated in 2025,’ Shield Therapeutics says.
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SIMEC Atlantis Energy Ltd - Energy company focused on tidal energy - Receives next milestone payment of £2 million from the battery energy storage systems project, under its agreement with EL Uskmouth Ltd, a subsidiary of FPC Electric Land. The payment was received following the completion of earthworks at the site. The remaining milestones are the completion of civil works, after which SAE will receive £1.5 million, and a final payment of £1.4 million on the delivery of 10% of the batteries.
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Marula Mining PLC - Africa-focused miner - Receives assay results from Larisoro manganese mine in Samburu County, Kenya. Says samples showed an average grade of 35.73% manganese. ‘The assay results are consistent with the historical results from the Larisoro mine and support the company’s plans to produce a 37.00% manganese saleable product from its on site crushing and screening processing facilities,’ Marula says.
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Bluebird Merchant Ventures Ltd - gold development company primarily focused on South Korea - Says environmental impact study work begins at Batangas project area, or Lobo, in the Philippines. Says a team contracted by E-Green Management & Environmental Consultancy Corp is ‘sampling and monitoring stations across the Lobo area’. In March, it appointed E-Green to prepare the environmental impact study. CEO Colin Patterson says: ‘The work programmes on the ground at Lobo for the EIS completion are underway. E-Green are moving quickly as all parties focus on rapidly advancing the project up the development curve. This work will go toward the submission for an environmental compliance certificate, which together with the declaration of mining project feasibility are the two key outstanding compliance permissions for the project to move into the production phase.’
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Oracle Power PLC - Western Australia and Pakistan-focused energy projects developer - Says reverse circulation drilling work at Northern Zone gold project in Australia begins. RC drilling is on six holes, with four completed. CEO Naheed Memon says: ‘Drilling is now well underway with the RC and air core drilling programmes progressing well focused on delivering a maiden JORC Resource estimation in the coming months.
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Galantas Gold Corp - miner in Northern Ireland and Scotland - Plans to drill a key target area north of the Omagh mine site in Northern Ireland. The programme comprises three drill holes, which will test the Kearney Vein extension at depths over 200 metres. Chief Executive Officer Mario Stifano says: ’We’re keen to return to surface drilling this year to test for a northern extension of the main Kearney Vein, and to explore for further dilation zones...In this programme, we are aiming to uncover the exciting potential to extend the resource northwards and build on our existing high-grade gold resources.‘
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