ReElement Technologies, a portfolio company of American Resources Corp (NASDAQ:AREC, OTC:ARECW), has launched a toll processing service to refine recycled permanent magnets into high-purity rare earth oxides, including neodymium, praseodymium, dysprosium, and terbium.
The new offering achieves purities of 99.5% or greater at a processing cost of $25 to $35 per kilogram, the company said. The tolling service enables ReElement to receive used magnets from partners and return them as separated and purified oxides.
Shares of AMC Entertainment Holdings (NYSE:AMC) rose more than 10% on Friday after Wedbush upgraded the movie theater chain to “Outperform” from “Neutral,” citing improving industry fundamentals, strengthened financials, and potential market share gains over the next two years.
The brokerage raised its 12-month price target on AMC to $4 from $3, implying a 33% upside from current levels.
Excellon Resources Inc (TSX:EXN, OTCQB:EXNRF) shares moved higher as silver prices hit a 13-year high and as Red Cloud Securities initiated coverage on the silver miner with a ‘Buy (speculative)’ and a C$0.52 price target.
Shares of Excellon added 15.4% at C$0.38 in the early afternoon on Friday.
Silver prices surged to a nearly 14-year high on Friday as mounting geopolitical tensions and renewed safe-haven demand lifted the precious metal, offsetting pressure from a stronger dollar and mixed trading volumes.
Spot silver (XAG/USD) climbed 1.31% to $37.52 per troy ounce, its highest level since 2011, according to FXStreet data. That marks a gain of nearly 30% year-to-date, with the white metal sharply outperforming gold in recent sessions.
Capricor Therapeutics (NASDAQ:CAPR) shares plummeted more than 26% after it reported the US Food and Drug Administration (FDA) has not approved its Biologics License Application for deramiocel, the company’s lead cell therapy candidate for the treatment of cardiomyopathy associated with Duchenne muscular dystrophy (DMD).
In a Complete Response Letter to Capricor, the FDA stated that the application did not meet the statutory requirement for substantial evidence of effectiveness and requested additional clinical data before reconsidering approval.
Levi Strauss & Co (NYSE:LEVI) shares surged more than 11% in early trade on Friday as the apparel company’s second quarter earnings topped Wall Street expectations.
Revenue for the quarter was up 6% year-over-year to $1.4 billion, ahead of the consensus estimate of $1.37 billion.
Shares in Rockfire Resources PLC (LSE:ROCK) rose as much as 18% in early trading after confirmation that a backer of its most recent investment round is now a major shareholder.
Official documentation published earlier Friday acknowledges that ACAM now holds a 16.3% stake, which was flagged when the mining exploration group raised just under £2.5 million earlier this month.
Petro Matad Limited (AIM:MATD, OTC:PRTDF), the AIM-quoted oil company operating in Mongolia, has raised $4 million through a placing and subscription of new shares, and has announced plans for a retail offer that could bring in a further $700,000.
Funds will be used to cut operating costs at the Heron-1 producing well by switching from diesel to grid electricity.