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Investing.com -- Skyline Builders Group Holding Ltd (NASDAQ:SKBL) stock fell 3.9% in Thursday’s premarket trading after announcing a major strategic shift from construction to becoming a supplier of critical minerals and nuclear fuels.
The Cayman Islands-based company revealed plans to appoint Paul E. Mann as Executive Chairman effective January 1, 2026. Mann, who currently serves as Executive Chairman of ASP Isotopes Inc. (NASDAQ:ASPI), brings 25 years of experience as an investor and entrepreneur.
Skyline disclosed it has raised over $40 million from institutional investors in the past three months, including $2.5 million from Quantum Leap Energy LLC (controlled by Mann) and $3.5 million from Mann individually.
As part of its new direction, the company has acquired a 20% stake in a privately held Delaware LLC with significant critical minerals assets in Asia for $20 million. The transaction closed on October 31, 2025, with further details pending government approvals expected in the fourth quarter of 2024.
The company plans to relocate its headquarters from Hong Kong to Washington D.C. and form a new subsidiary focused on critical minerals. Skyline indicated it is currently negotiating multiple other opportunities in the critical minerals sector.
Critical minerals, as defined by the Energy Act of 2020, include elements such as cerium, praseodymium, neodymium, gadolinium, tin, tungsten, and lithium - materials considered essential for energy technologies and national security.
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