Coro Energy Share Discussion Threads

[blueblood] 04/12/2020 10:22

What the hell are the BoD doing to move this company forward. Duyung may be out of their hands but other projects should be being progressed in some shape or form....

[nithbank] 26/11/2020 08:16

I know the Duyung outcome is critical to the survival of the company but I've been re-reading the news earlier this month of the investment in ion ventures. Have a look at it if you haven't already but it seems to me an exceptional opportunity to get into the renewables market.

[currypasty] 25/11/2020 11:53

5 bagger (maybe 10) or lose the lot, how exciting!

[digger2779] 25/11/2020 11:47

Makes me wonder why we had that rise a few days ago. Seems like this is being forced down which can only mean that fantastic news is to be released tomorrow that will blow the share price out of the water. I'm off my meds btw 🙃

[blueblood] 19/11/2020 14:20

EME results due in next few weeks and should get some update on Duyung if not before....

[blueblood] 18/11/2020 15:49

If Duyung was sold for $500m we might just see that 3p!

[digger2779] 18/11/2020 14:29

blueblood - 3p would be even better but can't see that happening unless duyung sold for a monster price.

[blueblood] 18/11/2020 13:43

Can't believe I am saying this but would be great to get back into 0.3s in next few days...

[blueblood] 18/11/2020 11:30

Very slowly but at least it's heading back up!

[digger2779] 18/11/2020 11:26

Creeping up slowly.

[blueblood] 16/11/2020 13:10

Good news on Far East trade deal earlier and increased demand & prices can only increase asset value

[blueblood] 16/11/2020 10:27

I think that's a bit on low side but if we use it as conservative view we can be more pleasantly surprised when Duyung is sold. Still hoping for at least GSA update soon.

[currypasty] 13/11/2020 16:43

I think on EME people were speculating betweem $20m - $30m for our 8.5%

that would equate to $35 to $53, or £27m to £40m



so it all equates to flat to £13m


so Zero benefit to 6 bagger on mcap

imho

[blueblood] 13/11/2020 15:07

Curry you still looking for calculator? Reckon they need $225m for Duyung then for us to clear debt and running costs. Seen $400-$500m quoted for asset sale so $450m would be double and leave us with £27m in bank for company compared to current mcap of c£2m! Upgraded by 5 bagger to 10 bagger lol...

[currypasty] 13/11/2020 11:38

a few calcs on sale of Duyung... what do you think ??

roughly assuming 1.1 euro = £1, and $1.3 = £1
obviously exchange differences leading up to due date will have effect


Apr 2022 Eurobond repayment due, of e22.5 +5% / year
sp if compounded for the full term will be e26m = £23.7m


Apr 2021 and Apr 2022 5% per year on that tranch, e1.125 + e1.125 = £2.05m

Overheads stated at $1.3m / year, so say 1.5 years = £1.5m


so to get to Apr 2022, they will need £27.25m



back in a bit to work out what they may get on sale...

[digger2779] 13/11/2020 11:03

For some reason they have tweeted that they have an experienced BOD lol. All of the replies have been uncomplimentary. Parsons has been likened to a used car salesman at best.

[blueblood] 13/11/2020 09:27

I know we dumped Bula but no mention of Malaysia either in that presentation. Not sure the point of it really as adds little and no Duyung update.

[digger2779] 12/11/2020 12:06

Today's tweet is inviting shareholders and potential new investors to review the renewables presentation at the website hxxps://www.coroenergyplc.com/media/2228/coroenergy-retail-2020-q4-final.pdf
Seem to be pushing this side of the business.
All quiet on the Dingdong side despite EME latest rise.

[blueblood] 12/11/2020 09:40

Not sure why these are being marked back up as something stirring around Duyung imo

[blueblood] 11/11/2020 16:57

They can pay themselves a good wedge as soon as the sell Duyung and pay off the debt!

[digger2779] 11/11/2020 16:45

Trouble is they like paying themselves a good wedge and if they want to keep it going they just do a fund raise. Parsons is known for shareholder destruction elsewhere so I've read.

[blueblood] 11/11/2020 16:42

Everything pinned on Duyung sale agreement by April. That's why I can't get frivolous spending on renewable punt at this stage. Surely they aren't completely stupid???

[currypasty] 11/11/2020 16:20

from last results
" I am pleased to report that as a consequence the Company now runs on an annualised corporate overhead cost budget of $1.3m, a fraction of its 2019 level of $4.0m."


"The Group ended the period with cash of $3.3m (excluding cash recorded within assets of the Italian disposal group held for sale). As explained further in the notes below, whilst the Board considers that its existing cash resources will provide sufficient working capital to meet the Group's requirements until April 2021, when the second annual coupon payment becomes due on Tranche A of the Company's EUR22.5m Eurobond, the Group will likely need to raise additional funds thereafter, during the going concern forecast period, in order to remain a going concern. "


Final results not till next April, so I guess they are off the hook 'going concern' wise till then.

[currypasty] 11/11/2020 16:12

yes, that's right blueblood, Ive just had a read, redemption is due April 2022, of EUR 22.5 m, plus interest of 5% per year on half of the bonds (tranch b) so that's about eur 24m due. On the tranch A its 5% per year, so EUR 1.125 m due in April next.

Like you say, how can they spend 500k, when 1.1m due in 5 months.