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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Neometals Ltd - emerging sustainable battery materials producer - Completes class 4 pre-feasibility study update for production of direct shipped ore and mixed gravity concentrate from Barrambie. Notes following recent successful smelting trial results, the PFS update has delivered compelling financial metrics allowing the project to move into a definitive feasibility study phase. Neometals Managing Director Chris Reed says: ‘We look forward to taking the project through the final feasibility and approvals stages and developing this hugely strategic asset.’
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GreenRoc Mining PLC - London-based mining company, which has operations in Greenland - Announces it has awarded the contract to undertake a preliminary economic assessment for its Amitsoq graphite project to SLR Consulting Ltd, a long-established UK consultancy with considerable expertise in the field of mining and mineral processing, including in Greenland. SLR will commence work on the PEA in May 2023 and it is expected to be completed by September. Says the completion of a PEA is an important step in the development of the Amitsoq project towards commercial production. Further, establishes a wholly owned Greenlandic registered subsidiary, Greenland Graphite a/s, to which the two graphite mineral exploration licences, 2013-06 and 2022-03, currently owned by GreenRoc’s subsidiary Obsidian Mining Ltd will be transferred, pending approval by the Greenland Government.
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Arecor Therapeutics PLC - West Sussex, England-based commercial biotechnology company - Says subsidiary company, Tetris Pharma Ltd, has launched Ogluo in Denmark and Norway as a treatment for severe hypoglycaemia in adults, adolescents, and children aged two years and over living with diabetes mellitus. Ogluo is a ready-to-use, ambiently stored, preparation of glucagon in an auto-injector for patients living with diabetes suffering from severe hypoglycaemia.
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Litigation Capital Management Ltd - asset manager specialising in dispute financing solutions - Announces that a settlement has been reached in an Australian class action brought in the Federal Court of Australia against the Commonwealth of Australia on behalf of persons who are alleged to have suffered loss and damage as the result of contamination of their land at seven sites in proximity to Department of Defence military bases. Company funded the legal action. Notes Australia has agreed to pay A$132.7 million, around £71.0 million, in order to resolve the class action, prior to the start of a hearing in the case scheduled on May 15. Explains the claim forms part of LCM’s managed Global Alternative Returns Fund and was funded directly from LCM’s balance sheet and Fund I Investors. Says presently unable to accurately estimate the likely revenue and profit that will be generated from this investment.
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