17th Jun 2025 10:15
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Tuesday.
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AIM - WINNERS
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Seascape Energy Asia PLC, up 30% at 47.5 pence, 12-month range 13.75p-47.5p. The Southeast Asia-focused exploration and production company announces that its wholly owned subsidiary Seascape Energy Asia (One) Sdn Bhd has won a 100% participating interest as operator in a small field asset production sharing contract over the Temaris Cluster in offshore Malaysia. This is Seascape's first development operatorship, representing "a material step forward for the company in expanding the scale and scope of its business, further building on its success in Malaysia and delivering on its ambition to materially expand the company's portfolio in 2025". Company says the key terms are to deliver a field development & abandonment plan, along with certain specialised subsurface studies and 3D seismic reprocessing, within 18 months.
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Metals One PLC, up 15% at 15.216p, 12-month range 2.25p-48.5p. The London-based mineral developer says geophysical surveys are now underway at the Squaw Creek uranium project in Wyoming. Also, a detailed review of historic water well and uranium exploration well data is in progress, and a broader regional survey is being planned to assess potential claim expansion opportunities. Metals One notes that the completion of the acquisition of the Squaw Creek project and the Uravan vanadium project in Colorado "remains subject to certain conditions". Says the Bureau of Land Management claim documents have been processed for Colorado and are being processed in Wyoming. It expects the latter "to conclude shortly, after which the exploration leases can be granted". "As we work towards completing this strategic acquisition, we remain encouraged by progress made during Phase 1 exploration at Squaw Creek," says Chair Craig Moulton. "We have now commenced phase 1 exploration work across our two uranium projects in Colorado and Wyoming, representing key milestones as we develop our presence in the US."
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AIM - LOSERS
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RC Fornax PLC, down 52% at 24.5p, 12-month range 24.5p-56p. The defence sector-focused engineering consultancy welcomes the UK government's Strategic Defence Review 2025, which "provides a strong backdrop for potential future demand for RC Fornax's services" and resulted in "a marked increase in customer engagement", including the company "now progressing a potentially significant partnership". However, RC Fornax adds that "a number of existing and prospective customers have delayed or reduced their short-term spending and development activity", negatively impacting demand. It "now expects that this situation will not unwind immediately and that the impact may be sustained for the next few months" while customers "assess their needs and budgets" in light of the SDR. Also, the company's newly-expanded sales team "has not been able to convert a strong pipeline of leads into revenue-generating contracts at the rate expected by the board". Consequently, RC Fornax says it now expects full-year results to be significantly below market expectations, with revenue of at least GBP4.0 million. Company is "very disappointed" but "expects the uncertainty created by the SDR to be temporary".
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By Emma Curzon, Alliance News reporter
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Related Shares:
Seascape EnergyMetals OneRc Fornax