REG - Gunsynd PLC - Investee Company Update – Aberdeen Minerals Ltd

GunsyndAnnouncement

11/10/2023 07:00

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RNS Number : 6757P  Gunsynd PLC  11 October 2023

Gunsynd plc

 

("Gunsynd" or the "Company")

 

Investee Company Update - Aberdeen Minerals Ltd

 

Gunsynd Plc (AIM: GUN, AQSE: GUN) is pleased to announce that it has received
an update from its investee company Aberdeen Minerals Ltd ("Aberdeen").
Aberdeen has been awarded £294,000 in grant funding by the UK Government
through the Automotive Transformation Fund ("ATF").

 

Aberdeen expects the ATF grant will meet 70% of the cost of a feasibility
study into innovative methods to process the minerals at the company's
Arthrath Nickel-Copper-Cobalt Project in Aberdeenshire. This study will
investigate the potential to accelerate the production of cathode raw
materials in North East Scotland for UK battery manufacturing, using more
environmentally sustainable and socially acceptable approaches than the
carbon-intensive, overseas supply chains on which UK industry currently
relies.

 

Innovations to be tested include Glycine Leaching Technology, a technique
patented by Draslovka, which uses glycine, a non-toxic amino acid often used
as a food additive or nutritional supplement in humans and animals, as an
environmentally sustainable and cost-effective way to produce critical
minerals.

 

The ATF is delivered by the Advanced Propulsion Centre ("APC") in
collaboration with the Department for Business and Trade and Innovate UK to
support large-scale industrialisation and the transition to net zero. The ATF
grant awarded to Aberdeen is part of a broader package of funding announced by
APC.

 

Gunsynd subscribed for 2,000,000 shares at 7.5 pence per ordinary share for a
total consideration of £150,000 as part of the fundraising announced on 16
January 2023.

 

More information can be found on Aberdeen's website: www.aberdeenminerals.com
(http://www.aberdeenminerals.com)

 

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or
anticipated future events and anticipated results that are forward-looking in
nature and, as a result, are subject to certain risks and uncertainties, such
as general economic, market and business conditions, competition for qualified
staff, the regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political jurisdiction,
uncertainties regarding the results of exploration, uncertainties regarding
the timing and granting of prospecting rights, uncertainties regarding the
Company's ability to execute and implement future plans, and the occurrence of
unexpected events.  Actual results achieved may vary from the information
provided herein as a result of numerous known and unknown risks and
uncertainties and other factors.

 

For further information please contact:

 

 Gunsynd plc

 Hamish Harris/ Peter Ruse     +44 (0) 78 7958 4153

 Cairn Financial Advisers LLP

 James Caithie / Liam Murray   +44 (0) 20 7213 0880

 Peterhouse Capital Limited

 Lucy Williams                 +44 (0) 20 7469 0936

 

 

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