Thursday 16 April 2020
Here is our summary of the day's hottest RNS alerts from across London's Alternative Investments Market (AIM).
TP Group (TPG.L)
Development of flexible on-site medical gas production
TP Group, the providers of mission-critical solutions for a more secure world, announces that it has commissioned a development programme to build modular gas production equipment in response to emerging requirements.
Recent events, particularly the COVID-19 outbreak, have drawn attention to the availability of oxygen for critical care, particularly under peak load, which has highlighted challenges in logistics, contingency planning and flexibility in the supply of medical gases.
The Programme is intended to produce modular systems that can be deployed on demand at hospitals and other facilities suitable for on-site gas production. TP Group has significant experience in the field having worked for more than forty years on innovative approaches to gas production using electrolysis.
The Programme was initiated in late 2019 and has been accelerated to meet emerging needs. It is currently funded from TP Group's existing resources and will last a further three months. In that time, proven technologies developed under a range of submarine life support programmes will be combined to generate low-carbon supplies of hydrogen or oxygen according to end-user requirements. The first phase of the project aims to produce a demonstration system at the Group's Portsmouth facility that can be tested for suitability and performance. From there, it is anticipated that future modular units to suit a range of needs can be specified in consultation with customers and partners for development activities to commence in the second half of 2020.
As well as the near-term benefits in flexible gas production, this Programme will also contribute to longer-term sustainability goals, through a reduction in carbon dioxide and nitrous oxide emissions in the existing supply chain, as well as decreased transportation costs. This is particularly key in the UK healthcare sector, where the National Health Service produces roughly five per cent of the UK's greenhouse gasses, and the NHS Sustainable Development Plan aims to eliminate 80 per cent of the 1990 baseline carbon emissions by 2050.
Collagen Solutions PLC (COS.L)
Strategic Review and Formal Sale Process
The Company announces that following the receipt of interest in the Company it has decided to conduct a formal review of the various strategic options available to the Company to maximise value for shareholders. These options include, but are not limited to, the potential sale of the Company or the sale of one or more of the Company's assets. To facilitate discussions with interested parties the Company announces the commencement of a "formal sale process" as set out by The Takeover Code.
The Board has appointed England & Company, LLC ("England & Company") and Goodbody Stockbrokers UC ("Goodbody") as Joint Financial Advisers. Parties with a possible interest in submitting an indication of interest should contact England & Company or Goodbody at the contact details set out below.
The Company confirms that, at the time of this announcement, it is in discussions with a number of parties regarding a potential sale of the Company.
hareholders are advised this is not a firm intention to make an offer under Rule 2.7 of the Code and there can be no certainty that any offers will be made as a result of the formal sale process, that any sale or other transaction will be concluded, nor as to the terms on which any offer or other transaction may be made.
A further announcement will be made as and when appropriate and in light of the above, the Company is now expected to provide a trading update with preliminary year-end revenue and cash balances next week.
Great Western Mining (GWMO.L)
Permit Approval and Operational Update
Great Western Mining Corporation PLC announced that the U.S. federal Bureau of Land Management ("BLM") has now formally approved applications for surface disturbance works at the Mineral Jackpot ("MJ") and Rock House group ("RH Group") gold and silver prospects on the Company's acreage in Mineral County, Nevada, for an initial period of two years which may subsequently be extended in two-yearly increments. Each permit will allow for five acres of disturbance and for subsequent exploration drilling.
The planned initial works include construction of thirteen trenches across the two project areas, seven of which will be at RH Group and six at Mineral Jackpot.
The seven trenches at RH Group will traverse both the Eastern Shear Zone and the Southern Alteration Zone prospects, located in the most desirable areas relative to the geochemical soil anomalies and previous geological mapping and sampling. The surface trenches are designed to delineate areas of significant precious metal mineralisation which will be followed by a targeted drilling campaign.
The six trenches at Mineral Jackpot will be located across the largest two of the currently identified vein sets, recognised by previous geological mapping and highlighted during the soil sampling programme conducted at the end of 2019, results of which have already been reported to shareholders. The trenching programme has been designed to verify the strike extents of the vein system at Mineral Jackpot and should provide valuable information on the vein widths and precious metal tenor. A successful programme will be followed by drilling on the best targets, along with further trenching across the remaining soil anomalies.