RNS Hotlist: Advanced Medical, East Star, Gulf Keystone, ImmuPharma, Pensana, TekCapital, Tiger
Pensana (PRE) said it has completed a Front End Engineering Design and Value Engineering Study into establishing a UK-based supply of the magnet metal rare earths vital for the electric vehicle, offshore wind turbine and other strategic industries. The company said completion of this study is another "important" step for Pensana in its plans to establish an independent and sustainable rare earth processing hub in the UK. The strong fundamentals and robust economics provide a solid platform for the financing and development of the project.
Tiger Royalties (TIR) announced its audited results for the year ended 31 December 2021. The company said it remains focussed to use its expertise in the sector to add “interesting and innovative” deals to Tiger's portfolio to rebuild shareholder value.
For those who think there is not any cash to be had in the stock market, Gulf Keystone (GKP), an independent operator and producer in the Kurdistan Region of Iraq, declared a special dividend of $50 million. The company said that following payment of $115 million of dividends year to date, it is “delighted” to declare a special dividend of $50 million, consistent with its “strategic” commitment to balance investment in growth with shareholder distributions.
East Star Resources (EST), the Kazakhstan-focused gold, rare earths and copper explorer, announced the commencement of a helicopter electromagnetic survey on the company's Rudny Altai volcanogenic massive sulphide licences in Eastern Kazakhstan. The survey said it is expected to take 40-50 days, with data processing and technical review and targeting to follow. The results from the survey are expected to provide East Star with some immediately drill-ready targets and/or provide targets requiring further field and geophysical work prior to drilling.
Tekcapital (TEK), the UK intellectual property investment group, has raised a total of £2 million (c.US$2.5m) at 25p. The net proceeds of the placing will “primarily” be used to accelerate the growth of the company's portfolio companies.
ImmuPharma (IMM), the specialist drug discovery and development company, announced its final results for the twelve months ended 31 December 2021. The company said 2021 brought “significant” changes in the leadership of ImmuPharma. It has created “positive and constructive” developments within the business, with a focus on delivery of pipeline progression, meeting key future milestones and having a much more commercially driven corporate strategy.
Advanced Medical Solutions Group (AMS), the specialist in tissue-healing technologies, said that it has received FDA 510(k) approval for LiquiBand® XL, a new device that can close longer wounds than existing LiquiBand® products. The device consists of a surgical mesh which is used to close the wound and LiquiBand® glue which is used to strengthen the closure and prevent infection. The product launch into the US is expected in the third quarter of 2022.
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