Atlantis Share Discussion Threads

[sammy_smith] 17/7/2014 09:03

Watch: Atlantis Resources - MeyGem project update

Click the link below to watch

[cwa1] 16/7/2014 07:48

Couple of announcements this morning:-

MeyGen Project Update

London - Atlantis, a vertically integrated owner of the world's largest planned tidal current energy project, MeyGen, and tidal energy equipment supplier announces that after a lengthy negotiation process, agreement has now been reached on final pricing and terms with each of the following contractors to the project in readiness for execution of all contracts for the construction of Phase 1A of the MeyGen project.
-- ABB Limited, for civil works and onshore electrical equipment supply
-- Andritz Hydro Hammerfest and Atlantis, for turbine supply
-- Robert Bird Group, Global Energy Group and JGC Engineering & Technical Services

Limited, for the design and supply of the turbine foundation
-- James Fisher Marine Services Limited, for the offshore construction works, including

installation of the subsea cables, foundations and turbines
-- JDR Cable Systems Limited, for the subsea cable supply

-- O'Connor Utilities Limited, for the directional drilling of cable bores from the onshore site

to the seabed

The MeyGen project, which was originated by Atlantis, is located in the Inner Sound of the Pentland Firth in Scotland and is the largest planned free stream tidal energy project in the world. The first 86MW of the project, Phase 1, was awarded consent by the Scottish government in 2013, and the site as a whole has a full potential of almost 400MW of tidal generating plant - equivalent to 265 1.5MW tidal turbines. Grid capacity has been secured which ensures that the clean energy produced can be exported to domestic and commercial users, powering the equivalent of 42,000 Scottish homes and offsetting an estimated 122,455 tonnes of CO(2) annually during Phase 1 alone.

Atlantis continues to work closely with all relevant financing and contracting parties to reach financial close for Phase 1A of MeyGen, which is expected shortly.

Further updates will be made as appropriate.

And....

Change of Adviser and Open Letter to Shareholders

London - Atlantis Resources Limited, a vertically integrated owner of the world's largest planned tidal current energy project, MeyGen, and energy equipment supplier, announces that Peel Hunt has been appointed as Nominated Adviser and sole Broker to the Group with immediate effect.

Atlantis also announces that an open letter to shareholders from the Group's CEO, Timothy Cornelius, will be available on the Atlantis website ( at 9:00am BST on 16 July 2014. The letter details progress on the MeyGen project.

[sanks] 15/7/2014 16:35

Me and Sheila are gonna do the same when it hits 3p
She told me to wait, so i'm gonna wait

Sensible comments appreciated

[par555] 15/7/2014 15:05

CWA1,

Can't help you there sorry. Like you I just hold a miniscule few in the hope that long term I may wake up one day and find out that wave power has triumphed !

[cwa1] 15/7/2014 11:49

Morning All

Just dipped one eight of the small toe in the water here to take a minuscule stake after this morning's drop. No doubt it presages disaster/fund raising/whatever but have had an eye on it for a while now and find that a small stake makes me keep a sharper focus on it.

Bon chance all.

PS: Anyone got a take on the fall(and, yes, I know I should have asked BEFORE buying!)?

[davidosh] 11/5/2014 02:25

Another posting and Carmensfella Quickie entry over on TMF...

[hedgehog 100] 08/5/2014 16:37

Please note the following related thread, which may be of interest:

"Carnegie Wave Energy; Oceans of Potential"

[hallucigenia] 08/5/2014 13:18

To avoid confusion with Arlington and Archial Group, there's a separate thread for the latest inheritor of the ARL ticker, Atlantis Resources :

[hallucigenia] 08/5/2014 13:16

Some talk and writeup of mello at

[davidosh] 13/4/2014 18:40

Tim Cornelius of Atlantis will be presenting at the Monday Mello event in Beckenham tomorrow if any of you want to come along...

mellomeeting.co.uk

[rabbitman2] 07/3/2014 10:31

Excellent presentation last night. A very interesting story to watch carefully.

[aim_trader] 06/3/2014 09:24

Tim Cornelius, CEO will be updating investors at the Chesterfield Mayfair Hotel tonight. REGISTRATION:

[aim_trader] 06/3/2014 09:15

"Atlantis Resources (LON:ARL) made a premium start to life on AIM following strong early demand for the tidal power group's stock.
The company, which raised around £12 million in the float, set the placing price at 94p, giving it a market capitalisation of £72mln.
The shares are already changing hands for 97.5p.
The funds raised have been earmarked for the MeyGen project off the north coast of Scotland, which will be the world's largest tidal energy project.
Atlantis bought 100% of the project's operator MeyGen Ltd at the end of October from GDF Suez and Morgan Stanley.
Atlantis chairman John Neill said: "This fundraising and admission to AIM marks an important milestone for Atlantis and provides funding for development of the group's cornerstone MeyGen Project in Scotland, the world's largest tidal energy power project.
"We were delighted to secure more than £8 million in non-dilutive funding during the course of the road show, which in combination with the placing exceeds our planned target raise of £20 million," he added."

[aim_trader] 06/3/2014 09:10

Atlantis is striving to become the world's leading developer of commercial scale tidal power projects and the technologies required to economically deliver tidal current power to the grid for sale and dispatch. For more than a decade, Atlantis has pioneered the development of tidal current power as a predictable source of reliable, economic and secure renewable energy.

[sammy_smith] 21/2/2014 11:28

LISTEN: Atlantis Resources (ARL) - Successful placing raises £12 million

Click the link below to listen

[davidosh] 01/10/2010 16:55

Comment in the FT



Two Aim companies have gone into administration in the past few days following problems with the taxman.

HM Revenue & Customs says it does not intend to wind up companies, but rather to collect "the debts that are due from those who have chosen not to pay the tax that is needed to fund the UK's vital public services". It claims not to take such action lightly and to be sympathetic to businesses that have genuine short-term difficulties in paying the tax they owe.

The stories of 1st Dental Laboratories and Archial should serve as a wake-up call to any other companies that are experiencing cash flow problems. HMRC says there has been no change in its policy or criteria when offering companies time to pay. But it takes "a dim view of debtors who reach agreement with us to pay their tax debts over an extended period and then fail to comply. In such cases +they should expect HMRC to take firm action to recover the debt."

As recently as May, Archial, an architectural and design business, said that trading for the first four months of the year was in line with management expectations. But on August 26 a further update said the economic slowdown and significant reduction in government spending, together with uncertainty in the construction industry, had led to several projects being cancelled and others being postponed or delayed.

Profits and revenues would be well below market expectation, the company warned. It added that it was in talks with HMRC "with regards to amounts due in respect of prior tax years".

In the light of continued uncertainty about HMRC's position ahead of a meeting scheduled for September 21, the shares were suspended on September 17. The same day the company learnt that HMRC had filed winding up petitions against the company and certain of its subsidiaries, and its bank accounts were frozen.

The meeting went ahead but HMRC declined the company's payment proposals and administrators from PwC were appointed. On Tuesday they announced the sale of Archial Architects and other UK businesses to Ingenium, a private group, and said there "will not be any value realised for the holders of the suspended shares".

Archial came to Aim in 2005 as SMC Group, led by Stewart McColl, and expanded through acquisition, tripling its market value to £54m in little over a year. But no one has ever managed to assemble architectural practices into a successful conglomerate in the UK and Mr McColl resigned in 2007 after two profit warnings and the rejection of his business strategy.

1st Dental, which joined Aim in 2002, has also been trying act as a consolidator in the cottage industry that provides crowns, bridges and implants to the nation's dentists. It has become the biggest provider, with a market share of 5 per cent.

But economic recession has led to many people postponing plans for expensive dental work. The company said in July that, while NHS revenues were stable, there had been "a decline in private work, which in part includes dental work of a more discretionary nature". It might well have added "a more profitable nature".

On September 23 the directors asked for the shares to be suspended, warning that revenues for September would be well short of internal budgets. The company had also "come under severe pressure from HMRC and other creditors in recent weeks to meet financial obligations". On Tuesday Leonard Curtis Recovery was appointed as administrator.

Having two companies in a week cite HMRC in such similar circumstances looks a rare occurrence on Aim. But bear in mind that many companies with cash flow problems sought an accommodation with the taxman 18 months ago as the recession bit. Those time-to-pay plans are now coming to an end.

[davidosh] 22/9/2010 18:36

There is a thread running if any of you want to add to it here....

[davemac3] 21/9/2010 17:42

any news from the HMRC meeting today? is this bust?

[sailing john] 03/9/2010 12:56

Thought they already had looking at the numbers. I jumped ship on the 1st Feb (at a significant loss) when they announced that ridiculous LTIP award. Hope you see a turnaround if you still hold but not looking good. GL SJ

[davemac3] 03/9/2010 12:09

you can buy below mid at the moment - just been quoted 1.18, is this going bust or has something leaked re discussions with HMRC?

[tom5boy] 27/8/2010 09:33

Nice 45% return in 24 hours.

[double6] 27/8/2010 09:07

Happy to take the quick profit.

[davidosh] 26/8/2010 09:37

'The Group is also in discussion with HMRC with regards to amounts due in respect
of prior tax years.'


Have they been using HMRC like a bank ? How much and for how many years is actually outstanding ?