Coro Energy Share Discussion Threads

[odillon] 14/12/2023 14:24

True that Rafboy, there's a been a bit of spark here for a couple of days.

[rafboy] 14/12/2023 13:18

Volume increasing.

[nametrade] 13/12/2023 14:44

Laz as long as its ballsuckistan and not ballstuckinstan...we're all good.
JP not on my Christmas card list or ever will be so no..not contacted him recently..
I guess he will know what's happening at Mako once he reads it on one of Conrads RNSs..
Hope you guys all good..

[currypasty] 11/12/2023 15:59

just a case of get ready for the 31st December deadline to be missed

[lazarus2010] 11/12/2023 15:50

Anybody spoken with JP recently? Anything actually happening with Mako or Ballsuckistan?

[jason90] 05/12/2023 11:25

Research Note out today by Hybridian

[pavey ark] 04/12/2023 20:16

Jason90, Yes it is ....now see post 191.

Time for you to take all the information given and decide if you think the deal is going ahead....or if the 3rd of December is highly significant.

To help.....24th Nov
Michael Carrington, Managing Director Renewables commented:
"Following our recent Philippines partner restructuring, we are delighted to announce a similar restructuring in Vietnam. This transaction, timed as we move towards finalising our previously announced Vietnam funding arrangements with a view to initiating our rollout of the 50MW rooftop solar project, increases Coro's equity in the Vietnamese business and aligns our partners with Coro's shareholders."

Rather unlikely that Coro are now going to say "sorry your four months are up"

I have never mentioned these dates or given any importance to the 3rd of December but the deal looks significant and very much looks like going ahead.

[jason90] 04/12/2023 18:37

Pavey, isn't the 4 months exclusivity for the Capton deal now concluded?

[pavey ark] 03/12/2023 20:52

I expect the Caption deal to be done and to be very good for CORO.I don't expect it to impress current holders nor do I expect the share price to rise significantly.

[lazarus2010] 01/12/2023 16:37

SP reacting to the WH Ireland research note?

[10owen] 01/12/2023 09:56

It will be interesting to see if we get an update on monday re the possible tie up with Capton as the 4 month period of exclusivity will be up then.Hopefully a positive outcome for Coro to advance its projects in Vietnam and beyond.

[barony] 30/11/2023 17:41

Bottom line - forecast value?

[currypasty] 29/11/2023 11:33

can you read all 25 pages, and give us a paragraph summary... ha ha

[steelwatch] 29/11/2023 10:10

25 page research note from WH Ireland 20 Nov 23:



Click the full screen square bottom right and should see a download arrow top right for easier viewing. Also saveable.

[pavey ark] 27/11/2023 14:12

Could I make the rather obvious point that if A CAR is sold somewhere for say £5k this does NOT set the price for ALL CARS EVERYWHERE at or close to £5k.

Yes I know that this is rather silly but then again there are silly posts out there so I thought I'd join in.

For the curious .....absolutely no value has been ascribed to any Coro renewable assets .....this has been my theme for some time.

[helpfull] 27/11/2023 12:33

Oh! How rude?

Crazy Pavey might be overvaluing the Philippine assets compared to what Sembcorp are willing to pay. Sembcorp are also in the running for Duyung gas.

hxxps://timesofindia.indiatimes.com/business/india-business/sembcorp-to-acquire-428-mw-wind-assets-in-india-china/articleshow/105534986.cms

[pavey ark] 25/11/2023 11:34

The Capton (potential) deal was announced in August......50MW mentioned

The Mobile world MOU was announced in October ....50MW

The deal with their Vietnamese partner/installer was reworked...November ...Coro now have 92.5% of the business.....I think there is a "free carry" on the 7.5% so Coro is probably liable for 100% of cap ex .....some of this will be sold to Capton.

There would appear to be little doubt that the deal is going ahead and soon.

The Coro management run/develop the renewables side in a very impressive way and the only holdup has been caused by the lack of cash due to the delays at Duyung.

The Italian assets have been sold and ion Ventures was bought for £500k and sold for £1.25 million.

As far as the deal being "good" for Coro there has been every indication that management are more than capable of getting a good deal as they are in the position that every seller wants to be in......selling something that people want/need !!

The details of the deal will be interesting but they COULD sell 42% of the business to Capton then use this money to pay their share of installation costs up to a certain point ...then the income may be enough to complete the 50MW deal.

Nothing to say that things stop at 50MW but the money will be coming in.

[10owen] 25/11/2023 08:16

I said on thursday I intended to add to my Coro holding and have now done that.I agree Pavey I think this is way undervalued and that it is just a matter of time before the frustration of the Duyung delays are behind us and then we should see plenty of blue sky.

In the meantime I hope we get the Capton tie up announced next week and that it is a decent one for Coro and one that ensures the roll out can be accelerated.Gla.

[pavey ark] 24/11/2023 21:18

"This transaction, timed as we move towards finalising our previously announced Vietnam funding arrangements with a view to initiating our rollout of the 50MW rooftop solar project"

Currently Coro has two solar installations rated at c. 5.4 MW

This deal is TEN TIMES BIGGER and worth over $30m .

At close tonight Coro had a market cap of UNDER $9m !!!???.....this has been silly for some time but it is now moving into the bizarre zone.

It would be even more strange if they had two well advanced projects in the Philippines worth $275m with two more in early stage development......no....wait a minute !!??

[jason90] 24/11/2023 17:37

I've calculated around Euros 35m back to bondholders. (includes interest and shares after a full Duyung disposal)

Let's hope they have the option to sell their full share of Duyung ($101m), before this financial year end. This would negate having to renegotiate an extension with bondholders. (Coro have said this is a possibility).

Then there's the cost for Coro's capital to first gas ($38m)?

So net to Coro after a Duyung sale could be around $28m which is not to be sniffed at.

Plenty of cash to move ahead with their renewables and possibly partner again with Conrad on some further upcoming gas fields which Conrad are currently developing once Mako deal is finalised. Remember that Coro had a big hand to play in developing Mako Gas Field to this commercialisation point.

This is all best case scenario in my opinion.

[bengal1] 24/11/2023 15:12

Anyone know how much is owed to Bond holders at this point of time.. Is it around $35m??

[lazarus2010] 24/11/2023 11:10

Keep an eye on that Curry and let us know...first sign of any uptick could be a leak 🤞

[currypasty] 24/11/2023 10:01

doesnt look like anything soon from conrad


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