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SmallCap Round Up: Jadestone Energy, Seeen, Orcadian Energy


London’s AIM Index managed to eek out a second successive day of gains, although progress was limited to just a couple of points reaching 734.46 by the bell.

  • Jadestone Energy +27%
  • Seeen +25%
  • Orcadian Energy +23%
  • Bluejay Mining -15%
  • Synergia -13%

Jadestone Energy [LON:JSE] topped the board, adding 27%. The company provided an update on its Montara venture off the coast of Australia this morning, with the positive undertone over the pace of repairs helping recoup some of those losses from a few weeks back. A further update has been promised next week.

Seeen [LON:SEEN] was in second place, reversing at least some of yesterday’s losses. Again however trade was thin and the 25% uptick was inside the spread quoted at the close.

Orcadian Energy [LON:ORCA] gets the notable mention up 23%. The company advised this morning that a subsidiary had renegotiated terms with a counterparty regarding a loan, although the deal which has been struck only offers some very modest wiggle room. Trading was thin and with the spread eclipsing the gains, it feels like there’s still work to be done here.

Bluejay Mining [LON:JAY] was the biggest faller, off 15% at the close. That’s reflective of a fund-raise that was completed this morning, with the proceeds being used to cover exploration costs at a project in Greenland next year.

Synergia [LON:SYN] dipped 13%, leaving it in second to last place on the day. This morning the company advised on progress for a well workover, with availability constraints pushing the next steps out to early September. Volumes were unremarkable, but this does leave the stock at close on five month lows.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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