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Alkemy Capital Investments Plc LSE:ALK London Ordinary Share GB00BMD6C023 ORD GBP0.02
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  0.00 0.0% 120.00 0.00 08:00:00
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18/10/202109:40Alkane Thread With Charts7,389
18/9/201406:28Alkane Energy Bid Target?7
14/8/201416:06BUY in Alkane Energy (ALK).-
19/3/200913:07Alkane Energy - SHARES = 10p, CASH = 14.5P, NTAV = 33P80
22/5/200812:07cheap gas from manureb and waste products.1

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04/12/2021
08:20
Alkemy Capital Investments Daily Update: Alkemy Capital Investments Plc is listed in the General Financial sector of the London Stock Exchange with ticker ALK. The last closing price for Alkemy Capital Investments was 120p.
Alkemy Capital Investments Plc has a 4 week average price of 115p and a 12 week average price of 60p.
The 1 year high share price is 177p while the 1 year low share price is currently 60p.
There are currently 5,999,999 shares in issue and the average daily traded volume is 21,008 shares. The market capitalisation of Alkemy Capital Investments Plc is £7,199,998.80.
09/9/2015
08:14
rivaldo: From VSA Capital today - they have a 43p target price, on a forward EV/EBITDA of only 5.7x.... "Alkane Energy (ALK LN)# Alkane Energy (ALK), the UK gas to power producer, has released interim results for the period ended 30 June 2015. • Revenue: £8.7m, +22.5% YoY (H1 2014: £7.1m); VSA FY estimate is £21.4m, +34.1% YoY • Adjusted PBT: £1.4m, +180.0% YoY (H1 2014: £0.5m); VSA FY estimate is £5.2m, +59.0% YoY • Net debt at 30 June: £19.3m, 41% net gearing (H1 2014: £12.4m, 31%) • Electricity output (CMM and Power Response) was 106GWh, +24.7% YoY (H1 2014: 85GWh); VSA FY estimate is 216GWh • Total installed generating capacity of 145MW • 94% of 2015 output contracted at an average price of £52/MWh; 56% of 2016 output contracted at an average price of £50/MWh (H1 2015: 89% of 2014 output contracted at an average price of £51/MWh; 64% of 2015 output contracted at an average price of £52/MWh) VSA Comment As highlighted by the recent trading update, ALK is trading in-line with our forecasts for the full-year. Almost all revenue was classified as core, at £8.6m, +45.7% YoY (H1 2014: £5.9m). Growth in core generation is largely as a result of full contribution from the Carron Energy power response assets acquired last year and the Maltby CMM operation, which was shut for three months in H1 2014 as the mine was sealed. STOR calls were also at an elevated level from April onwards and this has continued into Q3. Although UK electricity pricing has been on a downwards trajectory this year, ALK has now secured almost all of its 2015 baseload power output at an average price of £52/MWh. Baseload power prices have seen a slight increase in the last couple of weeks, as we move towards winter 2015/16, which has the potential be produce one of the lowest supply/demand margins on record. Our model assumes all remaining 2016 baseload output will be sold at current futures prices. This currently delivers an average selling price of £46.7/MWh for next year. However, baseload pricing is only part of the story. For its power response activities, ALK has reported that average pricing under its winter running programme has increased to £227/MWh for the coming winter, up from £195/MWh in winter 2014/15, +16% YoY with significant increases in availability and capacity payments as well. We believe this demonstrates the increasing importance of power response assets to the UK National Grid. The confirmed closure of the 2.4GW Longannet power station (c4.5% of UK peak demand) and the proposed closure of the 2.0GW Eggborough power station (c4% of UK peak demand), which will both close by 31 March 2016 alongside Ferrybridge C (1GW) are the latest announcements to highlight the growing fragility of the UK’s future power supply. With a forward EV/EBITDA of 5.7x and a P/Book of 0.8x, we maintain our BUY recommendation and target price of 43p."
19/6/2015
09:14
marine boy: Fox You, I'm not sure what point you are trying to make. I'm in danger of posting on the wrong board here but EDR's shale assets are in addition to their conventional resources and were said, in a note by Edison, to add a value of 40p / share to EDRs valuation. Notwithstanding any potential shale assets, EDR's conventional Wressle field, should it prove bountiful, will add value to ALK's 18% holding of EDR. While this is all happening elswhere, AKL continue to be cash generative to the point where they have declared another dividend payable end of the month (now ex-divi). ALK have a number of projects in the pipeline for 2015 and the only thing holding this share price back is the OFGEM investigation into whether ALK & others have complied with Rule 5.13.1 (b) of the Capacity Market Rules. The Rule(s) in question: 5.13 Prohibition on other unreasonable business methods 5.13.1 The following activities are prohibited in relation to the Capacity Auction: (a) doing anything which would constitute a breach of any law intended to prohibit or restrict anti-competitive practices relevant to participation in the Capacity Auction; (b) submitting to the Delivery Body or the Authority any information in connection with the Capacity Auction which is false or misleading; ALK has responded in saying "Alkane does not believe it is in breach of the Capacity Market Rules and will fully cooperate with Ofgem’s investigation." If, like me, you have faith in the integrity, professionalism & capability of the management team, then ALK will come out smelling like roses. So let's not get too confused with fracking & ALK. ALK is not in the fracking business per se, but have an 18% holding in one that could but that is possibly going to hit upon a commercial conventional oil discovery in addition to their currently pumped sources.
30/4/2015
21:57
rivaldo: Good to see EDR's share price climbing nicely. And this article highlights ALK as one of 3 stocks "set to fly".... Http ://www.fool.co.uk/investing/2015/04/30/3-solid-small-caps-set-to-fly-tasty-plc-bioventix-plc-and-alkane-energy-plc/ "Drivers from here could be: • Further growth from acquisitions; • Organic efficiency gains; • Firming electricity-selling prices; • A recovering oil price lifting Alkane’s Egdon Resources investment; • Egdon Resources adds value to the shale licences on Alkane’s operating areas; • Better forward uptake of Alkane’s power-response offering."
30/4/2015
10:12
glasshalfull: Nice strong statement from ALK this morning. Brokers VSA positive, "ALK’s significantly improved performance in H2 2014 (adj. PBT £2.8m vs. £0.5m in H1) has continued into 2015 with core generation revenues significantly ahead YoY for the first quarter, on strong output growth. ALK has also nudged up its total sold output for 2015 to 86% but more importantly ALK has sold a further 10% of its forecasted 2016 base-load output with only a slight reduction in the overall average price. However, ALK’s currently secured average price for 2016 is still more than 10% above the current average market price for the year. Our model assumes an average selling price of slightly more than £50/MWh in 2015 and slightly more than £47/MWh for 2016 (assuming al l unsold power is sold at current average market prices of c£43/MWh for 2015 and c£45/MWh for 2016). UK forward power prices have remained fairly flat this year, following the sharp falls at the end of 2014. We think prices could increase as we approach winter 2015/16 when Ofgem forecasts the de-rated capacity margin could fall to around 3% under its base-case scenario (but could fall to around 2% under higher than expected demand and/or plant closures). We also note the recent full conversion of the £2.0m convertible bond, issued as part of the 2012 Greenpark Energy acquisition. For FY 2015 we are currently forecasting total output of 215GWh, with revenues of £21.4m, +34% YoY, and an adjusted PBT rising to £5.2M, +57% YoY (FY 2014: £3.3m). We retain our BUY recommendation with a target price of 43p." Regards, GHF
08/4/2015
08:22
rivaldo: Encouraging article here not posted before - interesting about the solar eclipse and the upcoming election as a boost for ALK: Http://www.yorkshirepost.co.uk/business/business-news/maltby-provides-alkane-with-a-rich-seam-1-7151401 "Maltby provides Alkane with a rich seam ALKANE Energy​, which mines methane gas from redundant Yorkshire coal mines, said it has made a good start to 2015 boosted by a strong performance at the former Maltby Colliery. Maltby, near Rotherham, was finally closed last spring and Alkane moved into full production over the summer. Alkane’s CEO​ ​Neil O’Brien​​ said:​ ​“Maltby, which is clearly our biggest site now, is performing ahead of our business plan. It’s going well. The reason the mine was closed was there was an excess of methane leaking off.” Elsewhere in Yorkshire, operations at the former Wheldale Colliery in Castleford were delayed by two months as new engines were brought on site, but Mr O’Brien said the mine is now running at full capacity. “It’s a 10MW site. We installed new engines and yes we were a few weeks late, but it’s running really well now,” he said. The two-month delay to the upgrade of capacity at Wheldale and Shirebrook, plus fewer than anticipated calls from National Grid, hit 2014 pre-tax profits, which fell slightly from £3.4m to £3.3m. Wheldale is both a coal mine methane producer and a power response site, the name given to former mines that have no methane left but the mine workings are used to buy in gas to produce power to feed the grid. Alkane said it is seeing the benefit of increased production in the current year. National Grid calls on Alkane’s power response sites when there is a supply wobble, known in the trade as a “kettle blip” (when everyone puts on the kettle during the TV ad breaks), but Mr O’Brien said calls were down as a result of the firm being “slightly overpriced”. “Our competitors underbid us, but we will leapfrog them in April. We are likely to see an increase in calls this year. The next “kettle blip” is expected to happen on March 20 when a solar eclipse takes place at around 9.30am, which will cover up to 90 per cent of the sun in Yorkshire. Alkane is expecting to be called on as solar power stations won’t be able to run during the duration of the eclipse. The next blip could well take place during the night of May 7 when a close General Election is expected to keep many people out of their beds and glued to the TV until the early hours to find out the result. “A General Election is a real problem for National Grid. If it’s a close result people could be sat there at 4am watching the TV,” said Mr O’Brien. National Grid turns to suppliers like Alkane during these blips as it only takes 15 minutes for a power response site to generate power. A big power station takes four hours to run up, which makes it uneconomical if power is only needed for a few hours. Alkane will open a new site in Yorkshire this autumn at the former Markham Main Colliery on the edge of Doncaster, where methane gas production is expected to be “very strong”. Analysts at Liberum said: “Power output continues to expand as the group grows its power response business and 2015 has started well. Weak power prices are a headwind, but significant forward contracting mitigates this impact in the short term.”"
13/3/2015
14:08
rivaldo: VSA Capital reiterate their Buy and 49p target: Http://www.lulegacy.com/2015/03/11/alkane-energy-plc-stock-rating-reaffirmed-by-vsa-capital-alk/ More from them here... Http ://www.directorstalk.com/alkane-energy-2015-expect-15-jump-output/ "Alkane Energy For 2015, we would expect a 15% jump in output UK gas-to-power producer Alkane Energy (ALK LN)# has released its annual results for the period ended 31 December 2014 (FY 2014). •Revenue: £16.0m, -22.3% YoY (2013: £20.6m); VSA forecast was £18.0m •Adjusted PBT: £3.3m, -2.9% YoY (2013: £3.4m); VSA forecast was £3.4m •Proposed dividend of 0.3p per share (2013: 0.2p) •Electricity output (CMM and Power Response) was 195GWh, +1.5% YoY (2013: 192GWh); VSA forecast was 200GWh. •Average electricity sales price was £53/MWh, flat YoY (2013: £53/MWh); VSA forecast was £53/MWh. •Total installed generating capacity now at 145MW (2013: 82.5MW). •82% of 2015 output contracted at an average price of £52/MWh; 36% of 2016 output contracted at an average price of £51/MWh VSA Comment In its trading update on 21 January, ALK guided to an adjusted PBT of between £3.25m – £3.50m, c20% below our original forecast of £4.2m, so this result should not come as a shock to the market (ALK has fallen 34% YTD and 13% since its January update). As previously outlined, profits were impacted by a combination of delayed new capacity at Wheldale and Shirebrook and fewer than anticipated STOR calls from the National Grid. For 2015, we would expect a 15% jump in output to 230GWh as Maltby and other acquired assets make a full-year impact for the first time, forecasting an adjusted PBT for 2015 of £5.4m. Based on its adjusted H2 PBT run-rate of £2.8m and with record levels of production on both base-load and peak winter running currently reported (and with pricing pretty much locked-in for the year), this seems quite achievable. Q1 trading update due early May. With the average 2015 electricity price currently c£43/MWh and 2016 pricing currently c£45/MWh, we have assumed in our modelling that ALK sells the remainder of its forecasted at current prices. This produces an average for c£51/MWh for 2015 and c£47/MWh for 2016. This year, we also expect ALK to bid for capacity under the second Demand Side Balancing Reserve auction, which opened last week, and also capacity in the next capacity mechanism auction in late 2015, adding to the 55MW of existing (one-year contracts) and 46MW of new build capacity (ten-year contracts) it won in the December 2014 round. We would expect more STOR calls this year and increased triad pricing as Ofgem expects the de-rated capacity margin to fall to around 3% this winter under its base-case scenario, but could fall to around 2% under higher than expected demand and/or plant closures. With net debt at £18m (exc. convertible loan, which we assume will be converted by the April conversion date) (gearing 41%) we believe organic growth and an emphasis on existing sites will be the focus for 2016. ALK is planning to commission new CMM sites at Mossfield, Markham Main as well as its stranded gas project at Nooks Farm this year."
21/1/2015
09:14
rivaldo: VSA Capital this morning still expect a PBT of £5.5m for 2015 based on the output already sold - this equates to around 3.75p EPS.... They have a 49p target price: "Alkane Energy (ALK LN)# Alkane Energy (ALK), the UK gas-to-power producer, has released a pre-close trading update for the period ended 31 December 2014. • Electricity output (CMM and Power Response) was c200GWh, +4.2% YoY (2013: 192GWh), VSA FY estimate was 230GWh. • Average electricity sales price was £52/MWh, -1.9% YoY (2013: £53/MWh), VSA FY estimate was £53/MWh. • As of 31 December 2014, 82% of 2015 output contracted at an average price of £52/MWh (As of 31 December 2013, 59% of 2014 output at £53/MWh) • FY 2014 results will be published 11 March 2015. Board expects revenue to be c£18m (-14% on our forecast of £20.9m) and an adjusted PBT of £3.25-£3.5m (-16.7%-22.6% on our forecast of £4.2m) VSA Comment Headline financial figures are certain to deliver share price weakness today. From an H1 adjusted PBT of £0.5m, there was little room for error in H2 if FY forecasts were to be hit. A late start for the upgraded capacity at Wheldale and Shirebrook combined with a mild winter, which reduced the number of STOR calls (-56% YoY), impacted results significantly. However, ALK made significant progress in 2014 in its power response business through acquisitions (10MW Wheldale, 49MW Carron Energy) and developing its organic pipeline, supported by the award of Capacity Mechanism agreements concerning the development of 46MW of new generation capacity to be completed by winter 2018. In CMM, ALK will drill two CMM licence sites in 2015 (Stoke, Markham Main) and the company has also applied for a number of new CMM licences as part of the 14th Onshore Licensing Round. The current weak electricity prices is predominately an issue for ALK’s coal mine methane base load output, although it does also impact STOR/winter peak-load pricing. However, ALK has locked in a much higher proportion of this year’s output than it did last year and even has 30% of its 2016 output sold at £51/MWh. In power response, the related fall in gas prices has helped to preserve margins. Average 2015 electricity price is currently c£43/MWh (having been in the 50s for most of 2014) with 2016 pricing currently c£45/MWh, demonstrating the advantages of ALK’s forward pricing strategy and also highlights that fact that 2016 provides the most near-term risk, not 2015. For 2015, we would expect a significant jump in output as Maltby (down for maintenance for three months in FY 2014) and other acquired assets make a FY impact (VSA est: 230GWh). Given the level of output already forward sold, we expect an adjusted PBT of £5.5m for FY 2015. We retain our BUY recommendation but, having made certain adjustments to our model (including reducing average selling prices in future years and marking to market ALK’s EDR stake), we have adjusted our target price to 49p."
24/9/2014
06:16
rivaldo: Excellent news today... Http://www.investegate.co.uk/alkane-energy-plc--alk-/rns/alkane-wins-national-grid-contracts/201409240700104296S/ "Alkane wins National Grid demand side balancing contracts for 2014/2015 Alkane Energy plc ("Alkane") is delighted to announce that it has been successful in winning some of the first demand side balancing contracts for the 2014/15 winter season. These contracts are part of National Grid's Demand Side Balancing Reserve ("DSBR") programme which is designed to provide additional balancing services to the UK electricity market during periods of high demand and will provide a new income stream for Alkane. The contracts are to supply 56MW capacity to National Grid during periods of high system demand over the winter season running from 1 November 2014 to 28 February 2015. They are among the very first contract awards under interim measures introduced by National Grid to ensure that as System Operator, it has the tools to deal with tightening margins in the coming winters. This award is a reflection of Alkane's cost effective, flexible and highly reliable operating assets. The current generating fleet provides an ideal partner to National Grid in meeting its security of supply targets and gives Alkane confidence in bidding into the capacity market and other balancing services in the coming years. The winter of 2014/15 will be the first year of operation of this new initiative with the overall programme being designed to cover the winter peak period from 4pm to 8pm each weekday between November and February. Alkane will receive a two hour warning from National Grid if it is required to generate. Alkane is not expecting any significant additional capital expenditure or operating costs to service this new market, which will be accommodated by Alkane's existing power response fleet. Neil O'Brien, Alkane's CEO, commented: "Our power response strategy is built on being a reliable, cost effective and flexible partner for National Grid. I am delighted to see that this strategy is continuing to develop as planned. Starting from a base in the STOR market in 2011 we have expanded operations into winter running and now DSBR. All of this will be serviced from our existing engine capacity which can be swiftly deployed to respond to a range of market demands.""
20/8/2014
06:41
rivaldo: The entire IC tip from 2 weeks ago was posted on i.i.i (save the last line!), so here it is: "If you followed our advice this time last year to buy shares in independent power producer Alkane Energy (ALK) and sold six months later - when we said take profits - after shale gas speculation disproportionately boosted the share price, you would have banked a quick 29 per cent profit before dealing charges. We've been waiting for another buying opportunity and it has arrived. Alkane's shares have drifted below the level where we last tipped them and again offer excellent value, rated at just nine times next year's forecast earnings compared with 19 times at their peak. Technical analysis suggests they are oversold, too - the 14-day relative strength indicator has plunged to a three-year low. This technical set-up often produces a sharp bounce from a support level. More importantly, the fundamentals of Alkane's power-generating business remain strong. The company continues to enjoy steady annual growth at its base load operations, where power is generated 24/7 by extracting methane gas from abandoned coal mines and converting it into electricity using onsite generators. It sells the electricity to National Grid (NG.) at a healthy mark-up. Alkane had 18 coal-mine methane (CMM) sites operating in the UK at the start of 2014, with an installed capacity totalling 45 megawatts (MW). It plans to bring two more sites on-line this year. However, Alkane's relatively new power-response operation is the fastest growing part of the group. Here, Alkane buys gas wholesale and turns it into electricity during times of peak demand when prices are highest. Installed capacity was 36MW in December 2013, but this has risen to 92MW following two attractively-priced acquisitions this year, including the £12m purchase in July of three power-response companies with a combined generating capacity of 49MW. The shift into power response makes sense because the UK's energy mix is becoming more varied and complex, with increasing dependence on energy from intermittent renewable sources such as wind farms. The ability of power response to fire up quickly during peak evening and winter demand means that it is becoming increasingly important to the UK grid. Moreover, the UK's power regulator, Ofgem, predicts spare generating capacity could fall as low as 2 per cent by 2016 as old power plants are shut down. Ofgem has repeatedly warned of a looming energy crunch and a heightened risk of power shortages or cuts over the coming years. Granted, power prices have actually been weak this year following the warm winter and the plummeting price of coal. But Alkane has already contracted to sell 74 per cent of its 2014 base load output and 50 per cent of the 2015 load at the same price as last year or slightly higher. The new acquisitions will also take several months to bed in, denting profitability. Combine that with the dilutive effects of an £8m share placing, and EPS are forecast to fall slightly this year before soaring nearly 40 per cent in 2015 (see table). Share-tip summary Sure, the dividend is only nominal, but Alkane is growing fast and its shares offer a cheap, low-risk way to play the likely rise in UK wholesale power prices over the coming years. There's also free long-term upside"
26/3/2014
16:57
leoboy: bit of a resume via OilBarrel whilst we wait : Poweralternatives: Independent Gas-To-Power Producer Alkane Energy Enjoys A Stellar Year In 2013 With The Share Price 77.3 Per Cent 26 Mar 2014 by Stewart Dalby Just because it was the company's broker VSA Capital that said it, it does not mean that it is not true. Fast growing, independent coal mine methane (CMM)- to- gas and power as well as power response company Alkane Energy did have a stellar year last year. By VSA's reckoning in the 12 months ending December 31 2013 revenue and PBT came in ahead of its own estimates (£20.6 million and £3.4m vs £19m and £3.3m respectively). Output was 15 per cent to the good at 192 GWh, installed generating capacity increased to 83 MW from 70 MW in 2012, revenue was 40 per cent better and adjusted PBT 17 per cent up. As a result, the share price at one point was 77 per cent up at 51 pence against a low of 28p, although some of the increase could have been due to expectations about ALK's shale gas acreage. The shares are back to 42p per cent now, but that is still a 62 per cent rise in the 52 week period. Yes, all- in-all a stellar year. There was a sort of exceptional item in that a diversification into design build and operate (DBO), which includes anaerobic digestion plants, had a particularly good period. ALK's other broker Liberum estimates that of the £20.6 million revenue, over £6 million came from DBO. Alkane expects that contribution to be more like £4m going forward. But leaving aside DBO, Alkane's performance was powered by three factors. First, organic growth and expansion by acquisition in CMM. Second, firm power prices in the UK, where Alkane exclusively operates and third good prices in auctions for short term operating reserve (STOR). This means power response. Gas companies can earn money by participating in the UK fuel reserve programme in that they provide short term operating reserve to the National Grid when, say, wind plants do not work and can get paid by being on standby for the rest of the year. Alkane now devotes 36 MW of its capacity to power response activities. In 2013 Alk derived £3.1 of its revenue from power response, more than double what it made in 2012. Post the period end the company acquired the 7.5 MW Whedale site for £1.5m. This will raise Alkane's overall capacity to 90 MW and will help the company realise its target of 50 MW of power for STOR by 2015. In terms of UK prices, these held up at £53/MWh for most of the year, which historically speaking is quite firm. In its core methane gas-to-power business Alkane added two new sites of its own, but output was boosted by the acquisition of the 11MW Maltby and a contribution here exceeded expectations as integration went faster than expected. Going forward there should be a further contribution from Maltby. There has been some concern about prices which have fallen by £4 /MWh recently because it has been a windy winter and wind power has been available. However Alkane has hedged around 59 per cent of its expected output at £53/ MWh. And, of course, there is the shale potential. The group has 800km 2 over 13 Petroleum and Development licences. Alkane has 100 per cent in these licences which cover a lot of hydrocarbon options including natural gas, CMM, coal bed Methane (CBM) as well as shale. But 50 per cent of the acreage is in what is known as the Bowland Shale in the north of England. It is thought to be one of the most highly prospective shale areas in the UK. Alkane is currently assessing a report which says there is potential for prospective shale gas volumes on its acreage. The company is considering a number of options with regards to this potential including undertaking further work on the licences, farm outs and partial or full divestment of its interests.Liberum has set a target price of 44p without anything in for the shale. VSA's TP is 48p and again without anything in for the shale.
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