Accsys Technologies Share Discussion Threads

[this_is_me] 22/11/2022 14:01

Mr MacGregor22 Nov '22 - 13:00 - 1730 of 1730 (Filtered)

[this_is_me] 22/11/2022 07:30

So the increasing cash flow from Arnhem as R4 ramps up along with the completion of the major cap exp of the new reactor will be used for the Hull plant along with profits from the Welsh plant.

[this_is_me] 10/11/2022 08:29

Yes, that looks to be correct. (RNS was 2/11/22)

[brad_k] 09/11/2022 18:28

T_i_m, is this not just the Accsys payment for the INEOS share of the Tricoya consortium?
If so we should see a corresponding RNS from Medite for the remaining 4.1 million shares allocated for the restructure.
{see RNS 01/11/2022 "Tricoya consortium restructure"}

[this_is_me] 09/11/2022 14:30

There is no excuse for that post.

Mr MacGregor9 Nov '22 - 10:31 - 1724 of 1724 (Filtered)

[this_is_me] 09/11/2022 07:50

INEOS have got 7,500,000 shares from somewhere taking advantage of the ridiculous fall in the share price.

Having sold 3/4 of my shares at the end of March last year it will soon be the time to buy them back again.

[mr macgregor] 03/11/2022 10:11

Just been having a look at the impending writedown of the Tricoya plant.

As far as I can tell (the company doesn’t make it obvious), AXS had a 76.5% interest in TTL which had a 62% interest in the Hull Tricoya plant. So AXS had a 47.4% interest.

They’ve taken on the remaining 52.6% by issuing shares worth €9.8m

This transaction values the plant at €18.6m

The plant is currently on AXS books at €93.6m

The expected writedown is €75m

The company will claim this is non-cash, but it is cash related as investors have been tapped four times since 2017 at €0.69, €1.05, €1.65 and €1.45 and a large amount of the cash raised from them has been poured down the Tricoya drain.

Look what they said during the latest raise in May 2022:

“Plant physical construction is now largely complete and being actively commissioned with commercial operations targeted to commence in July/August 2022”

Ever feel like you’ve been ripped off?

[this_is_me] 02/11/2022 07:24

It looks like the company is cash flow positive and will continue to have good cash flow despite current energy and ethanoic anhydride prices.

This underpins future investment in the Hull plant as the cash pile increases where "the validation work undertaken has demonstrated that the opportunity to produce Tricoya(R) at attractive margins in the future remains strong."

[mr macgregor] 02/11/2022 07:14

As I've been saying for a while this company hasn't got a clue. The Tricoya plant is a write off but they're not admitting it.

[mr macgregor] 12/9/2022 07:28

You've lost the plot if you think the Hull plant will be a long term winner. They can't get the build finished for starters. The talk about gas prices is there to prepare you for it being written off.

[this_is_me] 12/9/2022 06:32

It looks like Arnhem is back on track towards full production and the ability to sell all that they produce at an excellent profit margin.

It looks like they are in no hurry to get the Hull plant going flat out at current gas prices (and potential gas supply problems?) Gas prices will not stay this high for ever and the Hull plant still looks like a long tern winner.

The USA plant could be a big long term winner with no gas supply problems there.

[mr macgregor] 06/9/2022 17:13

This company is way too capital intensive for me in the current economic climate. The speed they move means you'd need to live to 200 to see it all come together. I thought management would improve when they got rid of Clegg but I'm not seeing the fruits of their labours.

[bloomberg2] 30/8/2022 12:07

Stock trading higher!! So plan E looks like a Plan

[bloomberg2] 30/8/2022 12:05

Contractors and site will be cleared by Friday!! Tricoya will have a few of there personal on site .. Plan E still being discussed with partner inoes

[jojaken] 13/8/2022 13:55

If work at Hull has now been suspended the company must surely be obliged to put out a RNS explaining what has happened given that it was only a few months ago the fund raising was made on the premise "Plant physical construction is now largely complete and being actively commissioned with commercial operations targeted to commence in July/August 2022" and "The proceeds of the Issue are intended to be used to . . . address the funding shortfall for the previously announced Hull additional costs."

That was followed on June 30 with the statement, "The physical constructions of both the world's first Tricoya plant in Hull and our Accoya plant expansion in Arnhem are largely complete, and whilst some near-term issues have been identified which are being addressed, commissioning of both facilities is in progress with both expected to be operational in the coming months."

If work has been suspended at Hull, production will not meet targets and the market needs to be clarified otherwise a false market will be created.

[bloomberg2] 05/8/2022 15:17

Down Skeleton workforce at Hull now... project run out of money !!looks like ineos will buy Hull site if accsys can't get funding to Finnish the project?

[mjneish] 04/8/2022 10:57

I discovered this company only yesterday. They look promising, but are the shares good value? Their market cap. is £203.5 million, so the price-to-book ratio is fair at 1.4.

But operating cash inflow was just £21.3 million last year (converted to £) which seems very low compared to the market cap.

There seems to be a lot of expectation built into the price, which means a disproportionate reaction if there's a glitch.

Well this is only from a quick look, so I'd be pleased if someone could disagree.

[reval] 02/8/2022 19:16

—- and since then, beginning of July and placing price announced at £1.23, the share price has done what Accoya timber has to go through, “ tanked “ !! for its treatment.

Incidentally, did the Directors and others take up the placing price of the shares at £1.23 when announced in June time and when the price was about £1.45 ??

Watch this space ??

[bloomberg2] 15/7/2022 13:27

Hearing investors looked happy at walk round at Hull this morning