24th Feb 2025 10:49
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Monday.
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AIM - WINNERS
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EnergyPathways PLC, up 42% at 7.95 pence, 12-month range 1.55p-11.5p. The West Sussex, England-based energy infrastructure project company announces progress on its MESH energy storage project. Has signed a non-binding memorandum of understanding with a clean energy fund for a cornerstone equity financing. Funding "is priced at multiples to current share price, effectively minimising shareholder dilution" and complements existing Global Green Asset Financing loan facility. Company says that along with other debt financing, the MoU provides capital for MESH's growth plans in gas storage, hydrogen and decarbonised gas power generation. "This provides further demonstration to the Government of MESH's ability to attract private capital to the UK energy transition," EnergyPathways says. Also, it has started discussions with an unnamed tier 1 FTSE 100-listed company on a potential deal for MESH long term gas storage capacity and gas sales off-take, and debt financing for the MESH natural gas storage development. Moreover, it expects soon to receive "the critical decision on [its] gas storage licence application to the [North Sea Transition Authority]".
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Celsius Resources Ltd, up 20% at 0.6p, 12-month range 0.475p-0.775p. The resource development company with projects in Africa and the Philippines says its Philippine affiliate, Makilala Mining Co Inc, has signed a binding term sheet with sovereign wealth fund Maharlika Investment Corp. Deal is for a bridge loan facility of USD76.4 million to initiate early works for its flagship Maalinao-Caigutan-Biyog copper-gold project. Says the loan is intended to fully finance the updating of its feasibility study and front-end engineering design, and to partially fund early development activities, including main access road construction in coordination with the Kalinga Provincial Government. Also, the agreement is intended to enable MMCI to comply with financial capability requirements under its mineral production sharing agreement with the Philippine government.
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AIM - LOSERS
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Synergia Energy Ltd, down 16% at 0.0305p, 12-month range 0.0305p-0.1475p. The West Perth, Australia-based oil and gas company announces the raising of GBP750,000 before expenses through a placing and subscription of 2.50 billion shares with existing and new institutional investors. This comprised the issue of 1.92 billion placing shares and 583.3 million subscription shares at 0.03 pence each. Synergia says it will use net proceeds to bridge its ongoing general, administrative and technical costs prior to an expected increase in revenues from its 50% working interest in the producing Cambay gas and condensate field in India. Chief Executive Officer Roland Wessel subscribes for 83.3 million shares at 0.03p each.
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By Emma Curzon, Alliance News reporter
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