Coro Energy Share Discussion Threads

[jemjem] 20/6/2023 14:47

No quarterly interest payments are now paid. Everything gets rolled up to April 2024, by which time Italy and Duyung will be monetised.
This is good news and I think the BoD are quite content with that outcome.

From the original debt restructuring RNS:

"If approved by the requisite majority of Noteholders at the Noteholder Meetings any and all interest on the Notes accruing from 12 April 2021, at the revised coupon of 10% per annum, shall be paid in cash on the Maturity Date save that Noteholders will be provided with the ability, from 12 July 2022, to elect to receive Note interest payments in respect of the immediately preceding quarter in new ordinary Shares in the Company ("Elections"), subject inter alia to the Company having the required share authorities in place from time to time to satisfy Elections and to Noteholders holding at least 50 per cent. of the Notes having made Elections in respect of the relevant quarter."

Imo

[helpfull] 20/6/2023 14:39

Oh! How rude?

Many a decent Executive Chairman who is highly paid and rewarded with options and the like would resign after reflection of the AGM vote.

I wonder if Parsons will?

He has lost the critical shareholder votes and thereby the confidence of shareholders.

I wonder if he will do the decent thing?

Or do you think the nest is so well feathered that he will brazen it out?

Be careful.

[digger2779] 20/6/2023 14:38

Maybe they can take a pay cut to fund the next interest payment.

[johnjames876] 20/6/2023 14:38

This is not good

[johnjames876] 20/6/2023 14:38

How will they be paid then

[blueblood] 20/6/2023 14:35

No more shares to issue to Lombard very interesting!

[begorrah88] 20/6/2023 14:26

A fair few voted against some of the resolutions so much so that a couple failed.Don't often see that - shows some discontent amongst significant holders.

[blueblood] 20/6/2023 13:37

No patience here. Let's see the share price by end July. Looking for 0.5p+ depending on news.....

[10owen] 20/6/2023 09:31

Wonder if any shareholders are going to todays AGM.Lets hope for some feedback if they are.

[grannyboy] 18/6/2023 11:09

'Twenty-four reasons why Net Zero must be abandoned.'

[pavey ark] 16/6/2023 09:50

Had another look at the new solar project.......now looks like the deal of the decade!!!

At first glance I thought this was $1.3m + the $600k loan but it includes the loan.
It looks very much like this was a distressed sale and a great deal for CORO.
With very little cash to spare they have secured a deal that involves very little in the way of upfront payment and $543/MW is the lowest I've ever seen..... even if they had paid $1.3m up front !!

I know some consider this to be insignificantly small but it isn't it is rather big.

The Vietnam solar is very close to takeoff.
By my calculation if they go for a new build they could put in $1m and borrow $1m and then they would be close to funding the next project entirely from Vietnam earning (not quite but close)

I have said before, the world is lining up to spend in SE asian renewables because of the pollution (and it makes the lenders look good !!!).

When Coro gets the Vietnam solar self financing they are off to the races and there are any number of financial institutions (pension providers) that would want a piece of secure, long term, reliable income.

When Coro sells all or part of a 30+MW portfolio this recent project will not be listed at $1.3m !!!!

[pavey ark] 15/6/2023 17:06

Coro received $115K from their original solar installation (end of April) which started producing power in September (RNS 30th Sept).
I doubt if Coro have received more than 6 payments and Vietnam is north of the equator winter would be less than summer (admittedly not much).

This project cost Coro c. $2m and was the first of hopefully many but even as it stands the return is very good and will be attractive to future investors.

To call this a " piddly renewable deal" shows once again that there are a considerable number of investors ....in the wrong company.

It is unfortunate that people want one kind of company and find themselves in another but this hardly gives them the right to rubbish the bit they don't like.....sell and move on if this isn't for you.

[digger2779] 15/6/2023 16:00

Looks like that piddly renewable deal has worked wonders. We pay more than that in directors salaries.

[pavey ark] 15/6/2023 14:16

Not really Coro specific but I wonder if the Daily Mail/Express readers will ever be concerned not so much about the effect of the heat on solar power efficiency but perhaps (just perhaps) be concerned by the rising heat levels.

As I Type Solar is contributing 27.7% of our electricity needs (wind 7.6%, Nuclear 14.7%.....fossil fuels 34.1%)

These figure have been fairly steady over the last week and will hopefully be even better in the future.

[grannyboy] 15/6/2023 13:55

Well so long as it adds value to the shares(so far today news hasn't.).. But it's to be hoped the sun doesn't get to hot in Vietnam...

'Britain fired up coal plant as solar panels suffer in hot weather.'. The Telegraph.

[pavey ark] 15/6/2023 13:31

The Vietnam solar deal completion is very good news......very hard work when you have very little cash !!!!

Michael Carrington certainly puts in a shift but that goes way over the head of most.

With the Italian cash due I expect to see the Vietnam solar going ahead and with some cash backing there is a much greater chance of finance (we all know the rule: before banks will lend you first need to have money !!!???)
Cash is also required to be put into the Philippines: the wind farm grid connections are being rolled into the solar connections....again saving a fair bit of cash but delaying the solar........very few are interested in this and even fewer realise the value to Coro.

When I first got involved here the management gave the impression that they were still interested in Duyung ....now I suspect they would sell on the first reasonable offer.

I note that the gas price is up and noises being made of energy shortage ....Coro is still in here for an extra 1.5m euro if things go okay with the Italian gas sale.
Also worth noting that there is cash in the Italian business that is due to Coro after all the details of the deal are completed.

[lazarus2010] 15/6/2023 11:17

Natural gas futures in Europe surged 14% to €43.8 per megawatt-hour, the highest in five weeks on the possibility of rising demand and extended maintenance works in Norwegian production facilities. Several outages at Norwegian gas fields have been extended and works are set to continue into July. Meanwhile, forecasts for hotter weather should increase demand for gas to produce power for air conditioning. Currently, Europe's gas storage is 72.6% full, and the European Union aims to achieve a storage inventory target of 90% by November 1.

Currently approaching $45

[mrzippo] 15/6/2023 09:38

Who calls the place Saigon these days? Its been Ho Chi Minh City since the US evacuated. Where they going next - Ceylon?

[blueblood] 14/6/2023 12:43

Doesn't take much to turn it around again!

[digger2779] 14/6/2023 09:46

Wonder if this will follow yesterday's pattern of dropping in the morning and ending up blue by close? Hope so.

[toolsmoker] 14/6/2023 08:24

Very well bid for this morning .news due any day