Coro Energy Share Discussion Threads

[digger2779] 10/8/2023 15:59

PA - without a result from Duyung you can kiss your renewables dream here goodbye.
Management hold multiple posts in other companies so are part timers here. Just tot up what they are getting elsewhere.
I did indeed invest here for Duyung before management got sidetracked and renewables are just a distraction. Jumping on the green bandwagon while it's still fashionable. You can live your pipedream but the world cannot do without fossil fuels anytime soon and certainly not what's left of my lifetime.
I am not bitter or upset just being realistic and fully realise they have no control over Duyung. Thanks for pointing that out Mr.Sanctimonious and what I do with my money is no concern of yours.

[barony] 10/8/2023 15:52

I agree with you Pavey. No time needed on Duyung and plenty of time on renewables where the company will be profitable and in divi territory reasonably quickly.

[pavey ark] 10/8/2023 15:11

Putting off some dIY so will engage here:

Digger, I have had a quick look at your posts and you seem a rather bitter and upset investor.....are you sure this is the game for you?

From your posts I can see that you are certainly a fossil man ....you do realise that Coro management have no control over Duyung ?

Like many frustrated ( here for the gas payday) investors the renewables are ignored and the vast amount of hard graft put in by management is not recognised.

I had a look at the board salaries and they are certainly not out of line and indeed may be considered low.....but if you think management are just sitting round taking the money and doing nothing they are obviously very high.

I would suggest that DUYUNG takes less than 5% of management time(they have no control) but look at the Italian gas sale, the second Vietnam solar, the new Vietnam finance deal, the other renewable project and the time involved in these deals.

I'm sorry things aren't going your way and £600k for board salaries may seem high ....I'm not saying the figure is low but one of my children holds a fairly senior post in Pharma (emphasis on "fairly") and the figures involved there would make a serious dent in your £600k.

No one is stealing your money.....the choice is yours.

Edit: Whilst the Company retains full ownership and cash flows from the Italian Portfolio prior to Completion, the Company has agreed not to withdraw further cash from Coro Europe and its subsidiary. 27/3/2023

[pavey ark] 10/8/2023 13:55

This from 1st March 2018

"To buy and install a 100-metre met mast in the US, for example, falls roughly in the range of $80,000 to $130,000 (excluding permitting fees).

A shorter tilt-up 60-metre met mast can be deployed for $25,000-40,000. The equivalent for a 200-metre vertical-profiling Lidar would be around $175,000, and for an approximately 120-metre vertical-profiling Sodar $60,000-70,000.

Maintenance costs vary widely, especially if a RS unit has to be returned to the factory for service, although some can be field-maintained."


September 2022 Coro were saying $1.2m to get Philippine solar to RTB and the wind farm $2m

[digger2779] 10/8/2023 13:37

No update of cash flows received since quarter 3 2022 apart from the final results which showed a total for the full year of 6.27 million dollars. They disclosed 4.443 euros up to Q3 (4.895 mill dollars) so am assuming (after exchange rate) 1.375 mil dollars received in Q4.


So they could have received a total of say 2.75 million for Q1&2 2023. Seems like a drop off in production and/or drop in gas prices, who knows.
Maybe they don't want us to know especially when they are paying themselves in excess of 3 quarters of a million dollars a year for part time work here as the same gang are employed or involved in AST, ECHO and a few others.

[pavey ark] 10/8/2023 13:18

"Why share... Obviously no cash to proceed."....your post on the recent Vietnam deal.

" The Additional Advance will enable the company to proceed to procure a met mast in the Philippines to support 12 months of wind data to build the technical and banking case for the 100MW utility scale onshore wind project alongside funding Duyung FEED spend and general working capital."

They are currently financing their recent second Vietnam solar project, developing the Philippine wind farm and the solar form and have commitments at Duyung.

I would suggest ,from your post at the top, that your grasp of these things is rather tenuous .....yes wages have to be paid.

[pavey ark] 10/8/2023 13:14

Posted on wrong board.

[bengal1] 10/8/2023 11:40

salaries spring to mind....

[currypasty] 10/8/2023 11:33

I can't see a pole with air speed meter stuck on top costing 700kRest must be for wages

[pavey ark] 10/8/2023 11:32

Very disappointing!!??

"Although not expected to be required, the longstop date under the SPA has been extended to the 31 December 2023, to allow additional time for regulatory approval by the Italian authorities"

A 2% reduction in final payment in order to progress a $100m project and to contribute the the very real disappointment that is DUYUNG.

[bengal1] 10/8/2023 10:34

The push back to Italian completion and full payment very disappointing.

[pavey ark] 10/8/2023 10:24

man1, yes the LIDAR data is obviously good....certainly good enough to move to the fairly expensive mast to get the gold standard data.

With all the admin done, permissions and LIDAR data they have a saleable product now but each month the mast is gathering data increases the value further.

This is a $100m project but time is money and CORO have certainly put the time and effort in here.(largely ignored by most )

Ready to Build (RTB) would be worth in the region of $15m

Solar RTB $10m plus

[helpfull] 10/8/2023 09:16

Oh! How rude?

Bit of fun.

Keep an eye on the Bollie bands in the next week or so:


free stock charts from uk.advfn.com


They are the tightest they have been for a long while. Suggesting a big move one way or the other.

But also remember Parsons and Spreadex and Lombard are involved here.

Be careful.

[man1] 10/8/2023 09:14

Thanks for clearing that up . So we have done some wind data to see if the area is suitable. Now the mast for detailed data .

[pavey ark] 10/8/2023 08:57

"As a result, and following receipt of the Euro 0.7m Additional Advance, the final completion payment will be some Euro 1.36m (reduced from the previously announced Euro 2.2m) plus the standard working capital adjustment which is expected to be positive and significant to Coro"

I don't know what they mean by "significant" but final payment will be welcome as will the profit share over the next three years of up to 500k/year

Good to see things moving along with the sale.

I always suspected that the met mast delay was down to lack of cash and the Duyung delay has been a real pain when they are trying to plan ahead.

It looks like the LIDAR data is good but the met mast data is required for finance.

There is no doubt that the permissions, planning approval and the existing LIDAR data makes this wind farm project worth way more than the total market cap of CORO....now.
12 months wind data (met mast) increases the value even more.

People should see today's announcement in the context of the above.

The solar project was tied to the wind farm as the grid connection was to be combined (reducing costs).

The solar farm doesn't require the same data collection and is now likely to move ahead.

The positive here is that the met mast data is the gold standard required for investment finance ...as the amount could be $100m people need to see the data.
Coro are now spending on the mast AFTER they have collected data for themselves with LIDAR
Given the shortage of ready cash and the effort that has gone into securing money for the mast then Coro are obviously confident.

[man1] 10/8/2023 08:52

I thought we were already collecting data ? In fact I thought it was nearly done , habexto agree with helpful nothing but a cash raise to help pay the boards wages .

[grannyboy] 10/8/2023 08:42

Yes these greenies will rob Peter to pay Paul in efforts to project their climate change credentials..

"Procurement of a 'met mast' in the Philippines."

[lazarus2010] 10/8/2023 08:22

I make that a 20% interest rate on the £700k! Another great decision!!

[helpfull] 10/8/2023 08:18

Oh! How rude?

It's a discounted cash raise. Nothing more, nothing less.

Be careful.

[currypasty] 10/8/2023 08:06

bit of a non event

[begorrah88] 10/8/2023 08:01

Coro give Zodiac £140k discount on purchase price if they divi up £700k now so that Coro can buy a mast for the wind measurements.