Forgent plc (LSE:FORG) has asked shareholders to approve a strategic transformation that would reposition the AIM-listed company from its traditional clean technology and waste-to-energy gasification business towards a mining-focused model centred on critical and precious metals in Western Australia.
The group has already assembled a portfolio of Australian exploration assets, including the Green Rock copper-gold project, a controlling interest in the Peak Hills gold-copper project and an option over the Mount Sholl nickel-copper-platinum group elements (PGE) project. These investments are supported by a dedicated mining team based in Perth.
Shareholders to Vote on New Strategy
The company has published a circular ahead of its annual general meeting on 6 August 2026, where investors will be asked to approve the adoption of the new primary business strategy. Shareholders will also vote on proposals to move to electronic communications, a change intended to reduce costs and improve operational efficiency.
Management said the strategic pivot reflects the longer-than-expected path to meaningful revenues from its gasification activities, together with ongoing fixed costs and changes in the funding environment for net zero projects. The company believes focusing on metals exploration and project development offers stronger growth prospects and the potential to generate value for shareholders more quickly, while its gasification business remains under strategic review.
Financial Performance Continues to Weigh on Outlook
Forgent’s investment outlook remains constrained by ongoing financial challenges, including continued losses, leverage and negative cash flow generation.
Technical indicators also point to continued weakness, with the shares remaining in a sustained downtrend. Valuation offers limited support given the company’s negative earnings and the absence of a dividend.
More about Forgent plc
Forgent plc is an AIM-listed energy transition company that historically specialised in clean technology through syngas gasification systems capable of converting waste into renewable energy and biofuels.
Since early 2026, the company has expanded into Australian exploration, building a mining-focused team in Perth and acquiring interests in copper, gold and nickel projects across Western Australia. As market conditions for gasification projects have become more challenging, Forgent is repositioning its business towards metals required for electrification and the energy transition while continuing to evaluate the future role of its legacy operations.
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